In here we share with you article about 8 Best Cryptocurrency Exchanges In The World
From financial institutions to everyday investors, more and more people are interested in cryptocurrency these days. To get in on the action, you need a crypto exchange account where you can buy and sell digital currencies, like Bitcoin, Ethereum and Dogecoin.
To help you pick the right account for your needs, We combed through the leading platforms to determine the best crypto exchanges available today.
Table of Contents
- Cash App
- How To Invest In Crypto
- Final Thoughts
Binance is one of the largest cryptocurrency exchanges currently operating, based on trading volume. The exchange was originally based in Hong Kong, and Binance’s terms are still governed by Hong Kong law.
It is not listed on any stock exchange, and its corporate structure is not transparent; for example, it is difficult to find clear information on the location of Binance’s headquarters.
The company itself has 2,800 employees and a 15 million client base. Its quarterly trade volume is equivalent to $180 billion, putting it in the same league as Coinbase; in fact, on some trading days Binance has shown larger turnover than Coinbase.
Click here for complete review of Binance
- Low non-instant and instant buy fees
- Extremely large coin selection
- Numerous extra services
- Non-transparent corporate structure
- Hiccups in account verification
Coinbase was the first major crypto business to go public in the U.S. when it began trading at $381 in April on the Nasdaq, giving the cryptocurrency exchange an initial market cap of $99.6 billion on a fully diluted basis.
Coinbase is an app that lets you buy and sell all sorts of cryptocurrencies, like bitcoin, ethereum, litecoin and about 50 others.
You can also use Coinbase to convert one cryptocurrency to another, or to send and receive cryptocurrency to and from other people.
Like stock trading apps you may already be familiar with, Coinbase shows you the current price and trends for cryptocurrencies, a look at your portfolio of holdings, and news stories about the industry.
- Large number of cryptocurrencies and trading pairs
- Offers both beginner-friendly and advanced trading platforms
- Highly liquid exchange
- Lack of high-quality customer service
- Coinbase.com is a custodial account meaning you don’t control the private keys
Crypto.com has been around since 2016, but most people are probably more familiar with it thanks to its marketing efforts over the past year.
Matt Damon starred in a Crypto.com commercial during the Super Bowl in February, and in December the exchange took over the naming rights for the former Staples Center, home of the Los Angeles Lakers and Clippers.
These high-profile moves represent a push by Crypto.com to raise awareness among a growing number of cryptocurrency investors.
The exchange offers wallet service options, access to nonfungible tokens, and a Visa rewards debit card.
Crypto.com boasts more than 10 million users in 90 countries, and is headquartered in Singapore. The exchange has its own token, Cronos (CRO), which for some investors can provide a way to lower fees on crypto trades.
Crypto.com can provide a relatively easy way to manage crypto assets for beginning to intermediate crypto investors.
- Supports over 250 cryptocurrencies
- Provides a range of cryptocurrency products
- Relatively high fees
- Poor customer support
Gemini launched in 2015 as a cryptocurrency trading platform appealing to both beginner investors and active traders, with several options for buying and selling cryptocurrencies.
It doesn’t have as much trading volume as competitors like Coinbase or Kraken — you may have only heard of Gemini because of its founders, Tyler and Cameron Winklevoss, who are famous for their legal battles with Mark Zuckerberg over the creation of Facebook.
But the exchange offers over 70 cryptocurrencies, a learning hub to teach beginners all about crypto investing, and a suite of unique products which can add more value for seasoned investors.
Offerings like Gemini Earn, Gemini Pay, Gemini Wallet, and more can help investors tap into a more cohesive ecosystem than other exchanges may offer.
Still, it’s important to remember that for retirement-minded investors, buying and holding (or HODLing) is the name of the game, and you don’t need any of these special features to do that.
- Highly liquid exchange
- Strong security framework
- Insures funds held in hot wallet
- High fees on many trades
- Supports fewer cryptocurrencies than many competitor exchanges
Founded by Sheldon Xia, BitMart exchange is a top-tier trading platform for exchanging, buy and sell crypto (digital assets), with over 5.5 million users around the globe.
According to CoinMarketCap, this Cayman Islands-based cryptocurrency exchange has been categorized under the top ten exchanges.
Today the platform operates in 180 countries and across 123 platforms. Currently, BitMart is domiciled in the Cayman Islands, with its offices in China, South Korea, and the United States.
This is presently thriving and has left its competitors behind. The reason behind the same is thrilling features that eliminate the extra hassles.
A few years back, trading wasn’t as easy as it is now. The revolution struck after the embarkment of cryptocurrencies.
We live in a world where trading is part of life, and cryptocurrencies have unknowingly entered in one way or another.
BitMart is something that will transform tedious trading into hassle-free dealing. Read on to this article on BitMart review to get all the information about the platform.
- Supports a very large number of cryptocurrencies
- Provides crypto earning opportunities
- Offers a simple buy/sell cryptocurrency feature
- Experienced a large-scale hack in 2021
- Has received poor feedback from customers
Kraken was founded by Jessee Powell in 2011 after a visit to the Japanese exchange Mt. Gox soon after their security breach that same year.
After exploring the company, Powell realized the potential for a competitor, especially if Mt. Gox were to cease operation, leaving a massive market behind.
At the time, Mt. Gox was handling over 70% of all bitcoin transactions globally.
Soon after the trip, Powell began working on the basics of what this new bitcoin exchange would be, officially founding the company that year.
Only three years later, in 2014, Mt. Gox would permanently close after filing for bankruptcy when it reported the loss of hundreds of thousands of bitcoins.
With the largest bitcoin exchange down, Powell’s prediction of a vacuum came true, and Kraken was ready to step in.
Today, as one of the big players in the game, Kraken has a few distinct offerings and a lot of options for users.
- Large number of supported cryptocurrencies
- Low fees on Kraken Pro
- Highly liquid exchange
- Limited account funding options
Launched in 2013 by Block, Inc. (formerly Square, Inc.), Cash App allows individuals in the United States and the United Kingdom to send, spend, bank, and invest.
It’s essentially a mobile banking app geared towards peer-to-peer payments, but it also has an investment component.
Users can invest in stocks, ETFs, and Bitcoin through Cash App. Unlike its peers, such as Robinhood and Venmo, Cash App also lets users withdraw their Bitcoin to third-party wallets, which makes it stand out from its competition.
In early 2022, Cash App’s CEO Jack Dorsey announced that the company has started to roll out support for the Bitcoin Lightning Network to enable near-instant Bitcoin transfers at almost no cost.
- Easy-to-use interface
- Withdraw to wallets
- Supports the Bitcoin Lightning Network
- Only supports Bitcoin
- Custodial wallet
- Various limits on deposits, sales etc.
Launched in 2014, Bisq is an open-source cryptocurrency trading software that enables individuals from across the globe to trade a range of digital currencies and tokens in a peer-to-peer manner. It currently supports over 100 digital assets.
This decentralized exchange does not require users to complete a Know Your Customer (KYC) identity verification process, nor is the trading software limited to users in specific jurisdictions.
On Bisq, users can buy and sell Bitcoin and other cryptocurrencies using various payment methods, including bank wire transfers, ACH transfers, and cash deposits.
While Bisq is popular among early cryptocurrency adopters as it stays true to many of the values that Bitcoin was built on, such as decentralization, privacy, and sovereignty, the exchange is not very beginner-friendly.
The escrow mechanism used in the peer-to-peer trading process may be challenging for new users while the comparatively slow trade execution could deter first-time users and active traders.
Additionally, the exchange is more targeted at making smaller trades as trading volumes are lower than on centralized global exchanges.
- Available globally
- Offers a high degree of privacy, no ID verification required
- 50+ different payment options
- Transaction speed can be slow
- Trading volumes can be low
- Not designed for active trading
How To Invest In Crypto
Investing in Crypto is similar to investing in stocks, except far more volatile because of the daily swings in BTC. Here are the steps to invest in stocks from the beginning:
- Open a brokerage account at a firm that allows crypto investments
- Deposit funds from your bank into the brokerage account.
- Buy a stock using deposited funds (cash balance).
- Later sell the stock for a gain or loss. Funds are returned to your cash balance.
The main difference with Crypto is for step three; you buy Crypto instead of stock. With Crypto, the above flow is similar in most cases but it depends on the exchange or trading platform. In some cases, you can buy Crypto using your credit card or by transferring funds from your bank account.
For other platforms, you must transfer Crypto directly. This is known as a direct deposit of Crypto.
Investing in Crypto isn’t much different from investing in stocks. With Crypto,you need to open an account with an exchange. With stocks, you open an account with a brokerage. Then you deposit funds.
The only difference with investing in Crypto is that you have to purchase Crypto, first using deposited funds, before you can trade Crypto, Although, your initial purchase of Crypto is your first opening trade.
If you’re looking to get started with cryptocurrency trading or investing, choosing the best exchange for your specific needs is essential. Whether you want a large number of digital assets to trade, the lowest possible fees, or the most beginner-friendly user experience, there is a good option for you.