In the Cryptocurrency space, you will come across many different things. Those range from Trading platforms to Dapps and even ICOs. Cryptocurrency Exchanges are at the top of that list. There are around 100+ Cryptocurrency Exchanges that operate worldwide.
Whether you’re looking to buy Bitcoin, Ether, or any other popular Cryptocurrency, you need a Cryptocurrency Exchange. Cryptocurrency Exchanges are online platforms where you can buy, sell and trade digital currencies. As Cryptocurrencies become more popular, Cryptocurrency Exchanges have grown in importance as well. Here are the 5 Cryptocurrency Exchanges you need to look out for in 2022.
Binance.US
Binance.US, a local Exchange owned by global Crypto giant Binance is a simple platform optimized for transactions under $10,000 that allows you to buy, trade, and convert its tradable Cryptocurrencies. Binance.US was launched in September 2019 and is powered by Binance’s matching engine and Wallet technology. Binance.US is a fast, secure, and dependable platform for buying and selling Cryptocurrencies and is operated by BAM Trading Services of San Francisco, California.
Pros
- It offers minimal costs for spot and general trading and a wide choice of Cryptocurrencies to trade.
- Users who already have good knowledge of the Crypto world can employ a variety of trading order types, such as limit, market, and stop-limit.
- Security provided is good.
- Binance.US offers two complete market dashboards with real-time market data, dubbed Simple and Advanced.
Cons
- Cryptocurrency investors will be satisfied by Binance.50+ US’s available coins, but some advanced users may miss the 300 coins that this local version lacks.
- Residents of Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont are not permitted to open Binance.US accounts.
Coinbase
People without any technical knowledge of storing, selling, or purchasing Cryptocurrency can use Coinbase because it is a beginner-friendly platform. The Exchange offers more than 80 Crypto-to-Crypto trading pairs, including many options for trading BTC and ETH in addition to more than ten forex pairs for trading stablecoins, such as USDC.
In the Crypto spot Exchange world, Coinbase is among the most liquid and regulated Exchanges. For high-volume trading, take advantage of a dynamic fee structure to get a cheap cost of execution.
Pros
- It gives you access to 100 different Cryptocurrencies.
- Account funding has a low minimum requirement.
- In the event that a website is hacked, Cryptocurrency is covered.
Cons
Compared with other Bitcoin Exchanges, the fees are higher.
Kraken
Kraken is one of the oldest Crypto Exchanges in the United States, having been created in 2011. Kraken is the leading bitcoin investing option for businesses of all kinds, offering everything from over-the-counter trading to white-glove account management.
All of Kraken’s markets have excellent liquidity and reasonable pricing, allowing users to meet their investing objectives swiftly and confidently. It offers a wide choice of coins with cheap fees.
Pros
- Advanced traders may be interested in sophisticated trading features such as margin.
- High levels of safety.
- Fees for advanced traders are low.
Cons
- It may seem complicated to use for beginners.
- Account funding possibilities are limited.
Crypto.com
Customers in the United States can choose from 180 coins on Crypto.com. You must use fiat cash, such as US dollars, to purchase bitcoin on Crypto.com. Users can connect several digital Wallets to Crypto.com’s service, and it also has its own coin holding choices. The DeFi Wallet is one of them, a distinct software that allows users to earn rewards on tokens used in Blockchain-based decentralized finance applications.
Pros
- Those who have a large amount in Crypto.com’s own stable coin (CRO) can get lower trading costs and additional incentives, such as 8% back on debit card purchases.
- There is now just a limited amount of margin trading allowed.
- High-level security is provided.
- Funding account with cash transfers results in cheaper fees.
Cons
- Low-volume Crypto investors will face higher trading fees.
- Purchase fees for credit and debit cards are quite expensive.
- Some services are not available in the United States.
- There is no provision for Crypto-to-Crypto trading.
You might also be interested in reading:
Gemini
Gemini is an ideal option for newcomers entering the Cryptocurrency world. Gemini is the first Exchange to get SOC 1 Type 2 and SOC 2 Type 2 certifications. The Gemini Clearing site allows buyers and sellers to trade directly; fees are based on the spread and there is no minimum order size.
The Gemini Basic interface is simple and straightforward and allows desktop users to purchase Cryptocurrencies based on the amount they wish to spend in Crypto or US dollars.
Pros
- Gemini has a simple interface that is easy to use.
- Available in all 50 states.
- With Gemini’s ActiveTrader platform, users have access to advanced charts, block trade, and can track multiple order types.
- There are more than 50 different Cryptocurrencies.
- Digital asset site insurance against Exchange hacks.
Cons
When not trading on the spot market, the fee structure is complicated and expensive.
Cryptocurrency is a quickly developing technology with the potential to change many parts of the world’s financial systems. In order to take full advantage of the opportunities presented by Cryptocurrencies, users must be prepared for potential roadblocks along the way.
A Digital Estate Plan can help ensure that your Digital Assets are handled in a manner that you see fit when they may no longer be available to you. It’s in your best interest to let your family members know exactly what Cryptocurrencies you have and where you keep them.
It’s important to furnish Beneficiaries with important login credentials and inform them of the different ways and places you carry out transactions. And once your family is in the loop, it would be ideal to take the steps necessary to ensure that your investment is protected.
