Investors of all shapes and sizes now have access to a wide range of crypto exchanges. This means that from the comfort of home – you can buy and sell digital assets like Ethereum or Dogecoin at the click of a button.
In this guide, we list and review the best crypto exchanges investors are accepted at right now – in terms of safety, fees, supported coins, and more.
If you’re on the hunt for the best crypto exchange today – this guide compares the top eight providers to consider.
We examine core metrics of each crypto exchange – such as regulation, supported coins, fees and commissions, customer service, trading tools, and more.
Read on to get started with the best crypto exchange in under five minutes.
Crypto Exchange- Introduction
Several hundred cryptocurrency exchanges are listed online today, but we reviewed the leading, established crypto platforms with a good reputation in the crypto space. When you open an account with eToro or one of the other top-rated crypto exchanges, you will have to submit proof of identity, like a driving license or passport, before you can deposit funds and gain full access to services.
All transactions on the exchange incur fees. You may be required to pay a commission when placing orders for individual coins or on a trading exchange. Most crypto exchanges charge fees when depositing with a credit or debit card. The exception is that eToro does not charge fees for using debit or credit cards.
Virtual currencies are highly volatile. Your capital is at risk.
The Best Cryptocurrency Exchanges In 2022
The ten best crypto exchanges in the market right now are those listed below.
- eToro – Overall Best Crypto Exchange
- Binance – The Largest Crypto Exchange by Trading Volume and Low Fees
- Coinbase – A Popular Crypto Exchange for Beginners, with a User-Friendly Interface
- Crypto.com – Best Exchange Where you Can Earn Interest from your Coins
- Huobi – Top Crypto Exchange Suitable for Diversification of your Crypto holdings
- KuCoin – Known as “The Peoples’ Exchange”, KuCoin Offers Custodial and Non-Custodial Services
- Gate.io – Popular Crypto Exchange with a Vast Range of Markets and Coins and a Cold Storage Wallet Option
- Luno – Best Crypto Exchange App Suitable for Beginners, with a User-Friendly Interface
- Kraken – Well-Respected Platform for Trading Cryptos
- Gemini – US-based, Regulated Exchange with a Good Range of Fiat Currencies
Virtual currencies are highly volatile. Your capital is at risk.
The Top Crypto Exchanges Reviewed
When reviewing the best digital currency exchanges, we used a tried and trusted process to identify the top 5 exchanges:
- Levels of regulation
- Trustworthiness – good reputation
- How many coins are supported?
- Commissions and fees
- Payment methods
- Margin and leverage options available
- Trading tools and features
- Beginner-friendly
- Security
- Customer funds protection
- Wallet options
- Minimum deposit requirements
- And much more
Factoring in the above criteria, we fine-tuned our list to the best crypto exchanges for 2022.
1. eToro – Overall Best Crypto Platform in the World
eToro is an excellent all-around digital currency exchange and secured top place as the overall best crypto platform for 2022.
With eToro, you have a choice of over 60 markets and coins, which you can buy and invest in the best cryptos for just $10. eToro fees are low, and you aren’t crippled by high costs when funding your eToro account. Some cryptocurrency exchanges charge more than 3% to deposit funds using your debit or credit card. eToro customers can deposit for free with the following options:
- Debit or credit card
- Skrill
- ACH
- PayPal
- Bank wire transfer
In addition, it’s only $10 to open an account with eToro.
What Cryptos Can I Buy at eToro?
eToro lists some of the top crypto coins in the crypto space:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- BNB
- DASH
- Monero (XMR)
- Dogecoin (DOGE)
- And many more
Another exciting option with eToro is the option to invest in DeFi coins like: –
- Decentraland (MANA)
- AAVE
- Cosmos (ATOM)
- SushiSwap (SUSHI)
Copy Trading with eToro
eToro is a world-leading platform in the cryptocurrency space for copy trading. It’s an excellent opportunity if you are a beginner because you can copy the trades of an eToro verified professional crypto trader. Although copy trading is a passive way to buy and sell COINS, you can learn to model the successful copy trader and start trading yourself.
The eToro platform also gives you access to ETFs, Forex, stocks, indices and commodities.
Does eToro Have a Crypto Wallet?
eToro offers users a user-friendly mobile wallet available as an app on iOS and Android, so you can trade, invest and store digital currencies on the go. The app connects directly to your eToro account. The platform also has a proprietary online wallet. With these options, you know that your cryptos are stored securely.
Is eToro Regulated?
Is eToro safe? eToro won the top position on the list of best crypto exchanges today because the platform is heavily regulated. It’s the primary reason over 20 million eToro clients trade and invest on the platform.
eToro Regulatory bodies include:
- US Securities and Exchanges Commission (SEC)
- Financial Industry Regulatory Authority (FINRA)
- The Financial Conduct Authority (FCA)
- The Australian Securities and Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
The Key Features and Benefits of eToro
- Number of listed coins – 60+
- Number of trading pairs – 60+
- Debit Card Fees – FREE
- Fees to purchase crypto coins – the cost of the spread + 1%
- Minimum eToro Deposit -$10 for US and UK users
- Top-tier financial regulation
- Accepts PayPal and debit/credit card deposits – many cryptocurrency exchanges only accept supported cryptocurrency
- Beginner-friendly trading app
- Low fees
- Copy trading option
- Availability of other financial markets, such as stocks and Forex
Virtual currencies are highly volatile. Your capital is at risk.
2. Crypto.com – An Excellent Crypto Exchange to Earn Interest from Crypto Coins
Crypto.com lists over 200 coins, so it’s an excellent platform for diversifying your cryptocurrency investments. It’s quick and easy to open an account with Crypto.com, and verified account holders can buy cryptos with a debit card for a small 2.99% fee. If you’re new to Crypto.com, it’s worth asking if this fee can be waived as the platform often does for new customers.
Other deposit options are via a domestic bank wire or ACH, and there are no fees for these transfers other than 0.40% per slide on the arrival of the funds to your account. Crypto.com supports CRO, an altcoin that can help reduce trading commissions.
Crypto.com has a yield earning savings account that supports multiple coins with variable APY, depending on the length of the lock-up period you opt for, notably between one to three months.
Crypto.com also enables instant crypto loans where you can use your altcoins as collateral for a loan, meaning you retain ownership of your crypto but make interest from the loan. The platform has insurance that covers the loan in the event of a default.
As a top-rated cryptocurrency exchange, Crypto.com has one of the best crypto credit cards in the cryptocurrency space.
The Key Features and Benefits of Crypto.com
- Number of listed coins – 200+
- Number of trading markets – 400+
- Secure mobile crypto wallet
- NFT marketplace
- Deposit options – Debit and credit card or bank transfer
- Debit Card Fee – 2.99% though Crypto.com sometimes waiver the fee for new customers
- Fees to purchase Ethereum (ETH) – Up to 0.40% commission
- Minimum Deposit – $20 if using ACH
- Crypto lending and saving services
- Competitive fees
- Crypto credit card
Virtual currencies are highly volatile. Your capital is at risk.
3. Binance – Top Global Exchange by Trading Volume
Established in 2017, Binance has become the leading global cryptocurrency exchange by trading volume. The platform has a vast range of crypto assets and trading markets, and trading fees are highly competitive, with commissions starting at only 0.1% per slide. In addition, Binance has a native token, BNB, and if you hold this coin, you can access reduced trading fees.
The Binance trading platform, whilst user-friendly, enables advanced traders access to a range of trading tools for in-depth technical analysis. You can use the beginner-friendly interface to buy coins if you’re a crypto newbie. Fees are variable depending on your chosen deposit option. It’s free to deposit via bank wire or ACH. If you use a debit or credit card, anticipate a 4.5% fee and a further 0.5% instant buy fee. You can also deposit with a supported cryptocurrency.
Binance provides a secure downloadable wallet. The decentralized Trust Wallet links to your Binance account, and it is easy to use for trading or investing multiple crypto assets or DApps on the go. If you prefer, Binance also offers an online wallet, protected with 2FA identification and IP address white-listing. If you log in from a new device or location, Binance will require additional security checks.
Binance has a United States specific website. You can access Binance US if your state permits crypto trading and investing.
The Key Features and Benefits of Binance
- Number of coins – 390+ (100+ for US clients)
- Number of trading markets – 1660+ (229+ for U.S clients)
- Debit Card Fee – 4.5% plus 0.5% buy fee
- Fees to purchase Ethereum (ETH) – variable up to 0.10% commission
- Minimum Deposit – variable, depending on the payment method
- Trading fees – 0.10% per slide
- Supports debit cards
- Secure crypto wallet – Trust Wallet app or online wallet
- Advanced technical trading tools
Virtual currencies are highly volatile. Your capital is at risk.
4. Coinbase – An Excellent Cryptos Exchange for Beginners
Coinbase is undoubtedly one of the best crypto exchanges for beginners. Even the most inexperienced newbie can navigate the simple interface and buy coins with a debit or credit card. Coinbase fees of 3.99% for card payments can be more expensive than other top crypto exchanges. You can also deposit with Paypal, and ACH transfers are free.
Coinbase tends to list the top listed coins by market cap. The platform aims to protect its clients from potentially risky new cryptos with a low market cap. Coinbase lists crypto assets like:
- Ethereum (ETH)
- Dogecoin (DOGE)
- Cardano (ADA)
- Shiba Inu (SHIB)
- Stablecoins like USDC and USDT
Coinbase security is excellent, with 98% of clients’ tokens stored in cold storage offline. 2FA is mandatory, adding extra layers of security to protect your coin holdings. You can keep your cryptos in the Coinbase online wallet or choose the non-custodial wallet, a downloadable app for iOS and Android devices.
The Key Features and Benefits of Coinbase
- Number of coins -170+
- Number of trading markets – 500+
- Debit Card Fees – 3.99%
- Fees to purchase Ethereum (ETH) -1.49% commission
- Minimum Deposit – variable, depending on the payment method
- Beginner-friendly interface
- Payment options – debit/credit cards, Paypal and bank transfer
- Excellent security
Virtual currencies are highly volatile. Your capital is at risk.
5. Huobi – A Top Crypto Exchange for Diversification
With over 500 coins and more than 1,000 trading markets, Huobi Global is an excellent exchange for diversification across the top DeFi coins. Many coins pair to USDT, a stablecoin, but other digital currency pairs are available.
For the more advanced crypto trader, Huobi offers crypto derivatives, covering a broad range of futures markets available to trade on margin.
Huobi’s native token is HT which can help reduce trading commissions. For instance, if you hold 10+ HT tokens, you receive a 10% discount, and 100+ HT tokens receive a 20% discount. Huobi commissions are reasonable at 0.20% per slide.
You can earn interest from yield generating altcoins on Huobi Global with generous, industry-leading APY rates, and typical lock-up periods are 7-14 days on average.
The Key Features and Benefits of Huobi Global
- Number of coins – 500+
- Number of trading markets – 1080+
- Debit Card Fee – variable up to 3.9%
- Fees to purchase Ethereum (ETH) – variable up to 0.20% commission
- Minimum Deposit – variable depending on the payment method
- Competitive trading fees
- Multiple derivatives (check availability for your country)
- Crypto savings accounts
Virtual currencies are highly volatile. Your capital is at risk.
How To Choose The Best Crypto Trading Platform For You?
There are more than three hundred crypto exchanges listed on CoinMarketCap. For a beginner in the crypto space, it can seem like a minefield to figure out the best crypto exchange. This section lists the essentials for choosing the best crypto exchange for your needs.
Is the Exchange Regulated?
The leading cryptocurrency exchanges are licensed by one or multiple financial authorities. That means the platform must follow the strict rules and guidelines of the regulatory body or face the consequences. Considering that obtaining a license can cost a coin exchange millions of dollars, they have a vested interest in taking care of clients.
If you deposit funds with an unregulated exchange, you have zero redresses if anything goes wrong. For instance, eToro is registered with FINRA and licensed by the SEC, and Coinbase is too.
How Many Tradable Coins are Available?
You may know what altcoins you want to trade, so your first step is to find a regulated exchange from our list of best crypto exchanges that supports your favorite coin.
Crypto-USD Pairs
Crypto USD pairs are popular with cryptocurrency traders. They are typically available for most countries but check availability if you are in the United States. If the altcoin exchange has approval for providing cryptocurrency services to US clients, you can trade coin USD pairs
eToro is the Best Crypto exchange Today
We rated eToro as the best overall crypto exchange because you can trade most of the top listed cryptos against the US dollar. For instance, Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) and Shiba Inu (SHIB) are all paired to the dollar.
Crypto-USDT Pairs
Tether (USDT) is a stablecoin supposedly pegged to the US dollar. However, $USDT is not decentralized and is often a coin seen on unregulated exchanges. USDT is backed by a centralized entity, which means Tether can randomly issue new $USDT tokens. The consensus is to ensure the crypto exchange is fully regulated if you plan to trade $USDT pairs.
Crypto-Cross Pairs Pairs
Trading coin cross pairs can be risky because you are trading a pair containing two altcoins, significantly increasing volatility. For instance, if you trade DOGE/BNB, you are trading DOGE against $BNB. Trading crypto cross pairs is more suitable for advanced cryptocurrency traders.
Competitive Service Fees
Overall, the top crypto exchanges have reasonable or competitive fees. Depending on what service you use, always check you are happy with the costs before submitting an order.
Deposit Fees
Deposit fees are typically the most expensive if you use a debit or credit card. For instance, Coinbase charges 3.99%, and Binance is 4.5% and a 0.5% purchase fee. That’s a significant amount to add to your funds deposited. eToro rated the highest because credit and debit card deposits are 100% free, with deposits made with US dollars.
Most exchanges support domestic bank wire or ACH, and, typically, this service is free. Still, it won’t be acceptable if you are in a rush to buy coins, as you may have to wait a few days for funds to land in your account. Crypto.com is the exception because it enables instant ACH deposits for free.
Commission Fees
If you’re trading cryptos, you will have to pay a commission on your trades. For instance, if you purchased $1000 of any coin on Crypto.com, you’d pay 0.40% per slide, which equals a $4 commission fee. If you later sell your token holdings for $2000, the commission is $8.
Compare the above to a Coinbase transaction, with a commission of 1.49%. On the purchase, you’d pay $14.90 and on the sale, a whopping $29.80. Therefore, it makes sense to trade cryptos with an exchange with more cost-effective fees.
Transfer Fees
You may not wish to use the proprietary crypto wallet of your chosen crypto exchange. If you have a separate wallet, it’s best to check the fees of the exchange for transferring to your wallet. Fees are variable depending on the coin you wish to transfer. For instance, if you want to withdraw Ethereum (ETH) to your private wallet, Binance charges 0.002 ETH. The exact sum you’ll pay depends on the market price of Ethereum (ETH). Today’s price ($2018.96: 16.5.22) means your transfer fees total $4.03.
If you’re withdrawing small quantities of ETH, it can become expensive. eToro charges 0.5% for withdrawals, making it more cost-effective even for smaller withdrawals.
Cryptocurrency Wallet
Every cryptocurrency wallet is different in terms of how many tokens it supports, levels of security, fees and device types. The top exchanges all provide a proprietary crypto wallet.
eToro offers two wallets. You can conveniently leave your coins in the eToro online wallet or download the eToro app and transfer your cryptos.
Coinbase offers a self-custody wallet, and Binance has an online wallet or the Trust Wallet app. Huobi has a multicurrency wallet, and Crypto.com has a DeFi wallet.
Liquidity
If you wish to trade cryptos, you need an exchange with good liquidity and trading volume. Platforms without sufficient liquidity lead to unfulfilled orders and unfavorable prices. With poor liquidity, it can be tricky to sell your coins without losing significant value.
Thankfully, the best crypto exchanges in this review are all trading with good liquidity and trading volume.
Tools & Features
What tools and features are available on your chosen crypto exchange? The benefits are to make it easier to trade, invest or take part in any other services provided by the platform:
- Technical analysis tools – you need access to chart tools to identify high probability trades. Look for a good range of technical indicators and real-time data. It can be helpful if the exchange integrates with the TradingView platform.
- Copy Trading – when you’re a newbie to crypto trading and investing, the eToro copy trading service wins hands down for teaching you what the professional cryptocurrency traders do. You can select from a list of eToro verified traders and simply mirror their trades in your eToro account. There is a minimum investment requirement of $200, but you can stop the service at any time or switch to another copy trader if you wish.
- Crypto News and Market Insights – it’s essential to stay on top of market news for your chosen coins or the crypto market. For instance, a random tweet from Elon Musk can send prices sky-high or plummeting to the ground. When he announced support for Dogecoin, the price of $DOGE tokens quickly rose by 40%.
- Alerts – real-time alerts can be helpful in a volatile market like altcoins, and you can set it to send text notifications
- Payment Methods – it’s helpful if a crypto exchange has a range of payment methods, like debit and credit card, PayPal, Skrill, bank transfers and cryptocurrency transfers. Before depositing, check the anticipated speed for crediting deposits for your chosen payment method.
- Customer Service – Most of the top crypto exchanges provide 24/7 customer support. Most crypto customers find live chat to be the most useful support option.
- Mobile App – Most leading crypto exchanges provide a downloadable app for iOS and Android devices. Having the app on your smartphone means you never miss a trading or investment opportunity if you’re on the move.
Virtual currencies are highly volatile. Your capital is at risk.
How To Buy Cryptos From eToro Exchange
If you’re new to the cryptocurrency space, you may feel concerned about how to use a crypto exchange. For this guide, we’ll outline how to open an account with eToro, get your account verified, deposit funds and start trading.
Opening an account with eToro takes less than five minutes: –
Step 1: Open an eToro Crypto Account
Go to the official eToro website, register for an account and submit your personal details. Choose a username and secure password and write it down safely, or use an online password account like Roboform. eToro may request your social security number and ask a few questions about your trading experience.
Virtual currencies are highly volatile. Your capital is at risk.
Step 2: Upload KYC Identification Documents
To get full access to eToro services, upload a copy of a government-issued ID, like a passport or driving license. Also, submit a utility bill or bank statement. On approval, eToro instantly verifies your account.
Step 3: Deposit Funds
Decide on your preferred payment option. If you’re depositing with US dollars, debit and credit card payments are free, and the minimum deposit is only $10. Alternatively, deposit by bank transfer or supported cryptocurrency.
Step 4: Search for your Chosen Crypto
Log in to your eToro account and click on the “Discover” tab and the “Crypto” tab. You’ll then see the complete list of coins listed on eToro. Alternatively, if you know the name of the token you wish to buy, you can type the name into the search box.
Step 5: Buy Cryptos
Once you have chosen your coins, place a buy order and enter the amount you wish to buy. eToro’s minimum is $10. When you are ready to complete the transaction, click on the “Open Trade“ tab.
You will need to place a buy order on your chosen crypto token and enter your stake in the’ Amount’ box.
Step 6: Send your Coins to a Secure Wallet
Finally, transfer your coins to your chosen wallet. It is a high risk to leave your cryptos on an open exchange.
Virtual currencies are highly volatile. Your capital is at risk.
Conclusion
We’ve selected the best crypto exchanges. You now have all the information needed to choose the right exchange for your needs, considering security, trading tools, customer support, fees and commission, and supported crypto assets.
eToro came out on top for many reasons. As a crypto newbie, you can get started with eToro for only $10 and deposit with a debit or credit card for free. If you’re looking to trade the best altcoins right now – consider the user-friendly Toro platform
Trading or investing in financial instruments such as cryptos may not be suitable for all investors. It does involve risk and the possibility of a loss of capital. There are no guarantees for profiting from cryptocurrencies, and it’s advisable only to risk what you can comfortably afford to lose.
Virtual currencies are highly volatile. Your capital is at risk.
FAQs
What’s the best Crypto exchange for day trading?
Day trading cryptocurrency requires good liquidity and trading volume. Any of the top exchanges are suitable for crypto day traders.
What is the best crypto exchange for US traders?
Not every exchange has approval for US trading, so it’s always best to check before opening an account. eToro is available in the United States. eToro USA LLC provides the US platform, registered with the Financial Crimes Enforcement Network (“FinCEN”) as a Money Services Business (“MSB”).
Virtual currencies are highly volatile. Your capital is at risk.
