Best Crypto Exchanges of September 2022
If you’re looking to buy or sell cryptocurrencies, you’ll need to use a cryptocurrency exchange. These online services often work similarly to a stockbroker, giving you the tools to buy and sell digital currencies like bitcoin, ethereum, and dogecoin.
The best crypto exchanges make it easy to buy and sell the currencies you want with low fees and strong security features.
- Available Cryptos
- Bitcoin
- Ethereum
- Cardano
- 300+ more
Payment Methods- Visa
- Mastercard
- Bank Transfer
- Third-party gateways
Fees- 0.1% maker fee
- 0.1% taker fee
Based in: Global
If you’re looking for a high-performance cryptocurrency exchange that has cheap fees, then Binance is a good option. It is the world’s largest crypto exchange by daily spot trading volume and is available to users in most jurisdictions, including the UK. After years of secure operations, Binance can be considered the safest platform.
Features
- An instant “Buy and Sell” crypto option.
- A Visa card for converting and spending crypto.
- P2P trading platform.
- An OTC desk for large and institutional traders.
- Access to crypto-collateralized loans.
- Binance provides educational content for new investors via Binance Academy.
- A variety of trading interfaces that matches the user’s experience.
- Interest-paying crypto products and staking facilities.
Pros
- Binance lists a large number of cryptocurrencies and adds new assets that are widely in demand.
- Binance offers high liquidity across all trading pairs.
- The exchange has a responsive customer service desk.
- Users enjoy a discount on trading fees when they use Binance Coin (BNB).
- Binance allows experienced traders to enjoy a high leverage position, up to 125x.
Cons
- Binance is loosely regulated and may come under the regulatory spotlight in the future.
- Binance has occasionally listed crypto tokens that turned out to be apparent scams.
- Available Cryptos
- Bitcoin
- Ethereum
- Cryptex Finance
- 50+ more
Payment Methods- Visa
- Bank Transfer
- Wire Transfer
Fees- 0.25% maker fee
- 0.35% taker fee
- 0.25% auction fee
Based in: USA
Gemini is a cryptocurrency exchange and custodian that offers investors access to 26 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.
Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader.
In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft.
Pros:
- Easy and quick signups — can get started in as little as a few minutes
- Multitude of platforms to accommodate traders of all skill levels
- Hot wallets include insurance to protect your from theft and hacking attempts
Cons:
- Higher fees than some other crypto exchanges
- Available Cryptos
- Bitcoin
- Ethereum
- Litecoin
- 90+ more
Payment Methods- Visa
- Mastercard
- Paypal
- Bank Transfer
Fees- 1.99% maker fee
- 1.99% taker fee
Based in: United States
San Francisco-based Coinbase is one of the most popular cryptocurrency exchanges in the world (over 30 million users) offers its services to the European audience.
Features
- Native support for GBP and EUR deposits.
- Debit and Credit card purchases.
- Insurance coverage for deposited crypto assets.
- Exchange trading facility for professional traders (Coinbase Pro).
- Staking options for popular proof-of-stake coins.
- High-security standards for both platform and client asset storage.
Pros
- The Coinbase interface is sleek and easy to navigate for even first time users.
- Coinbase boasts high liquidity across all listed trading pairs and assets.
- Multiple security options for securing user assets.
- Coinbase supports the purchase of crypto using 3D-secured credit cards.
- Coinbase provides options for users to earn free crypto by learning about new projects.
Cons
- Coinbase usually suffers a downtime when there’s significant Bitcoin price action.
- The platform supports a limited number of cryptocurrencies.
- Coinbase also shares user data with tax authorities.
- Available Cryptos
- Bitcoin
- Ethereum
- Litecoin
- 830+ more
Payment Methods- Visa
- Mastercard
- Paypal
- Bank Transfer
Fees- 0.06% maker fee
- 0.06% taker fee
Based in: United States
Gate.io is one of the oldest crypto-to-crypto exchange from China operating since 2013.
After being rebranded to Gate.io in 2017, it is one of the fastest-growing crypto platforms with a leading Initial Exchange Offering (IEO) platform, numerous cryptocurrencies, margin trading with leverage, and other advanced financial services like margin lending or borrowing.
Despite having a powerful trading engine, the platform interface feels somewhat cluttered as is generally not the best starting place for inexperienced investors.
Pros
- Over 180 currencies and nearly 400 markets
- Many features including margin trading with 10x leverage.
- Excellent IEO platform
- Able platform with mobile apps
- Good customer support
Cons
- No fiat deposits
- Unregulated exchange
- The team is not transparent
- The exchange interface is somewhat untidy
- Not recommended for beginners
- Available Cryptos
- Bitcoin
- Ethereum
- Cardano
- 400+ more
Payment Methods- Visa
- Mastercard
- Bank Transfer
Fees- 0.1% maker fee
- 0.1% taker fee
Based in: China
Since launching in 2017, KuCoin has experienced tremendous success and is now a market-leading cryptocurrency exchange that offers access to over 200 different cryptocurrencies. This makes the exchange ideal for those looking to invest in altcoins.
While not offering the same amount of features as other exchanges, KuCoin is continually advancing and now offers derivatives trading, instant purchases and staking options. Users can lower fees on the platform by holding the native cryptocurrency, KCS.
Pros
- Hundreds of tradable cryptos with low fees.
- Can decrease trading fees by 20% by paying with KuCoin’s proprietary KCS stablecoin.
- Automated and margin-based trading available.
Cons
- Buying select crypto requires payment methods that may be too complex for beginner investors.
- Available Cryptos
- Bitcoin
- Ethereum
- Ripple
- 80+ more
Payment Methods- Visa
- Mastercard
- Bank Transfer
Fees- 0.16% maker fee
- 0.26% taker fee
Based in: United States
Founded in 2011, is the largest cryptocurrency exchange in euro volume and liquidity and is a partner in the first cryptocurrency bank.
Kraken lets you buy and sell bitcoins and trade between bitcoins and euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen. It’s also possible to trade digital currencies other than Bitcoin like Ethereum, Monero, ethereum Classic, Augur REP tokens, ICONOMI, Zcash, Litecoin, Dogecoin, Ripple and Stellar/Lumens. For more experienced users, Kraken offers margin trading and a host of other trading features. Kraken is a great choice for more experienced traders.
Check out the FAQ.
While the crypto exchange is based out of San Francisco, USA, they still have one of the largest Euro-to-crypto markets in the world. Kraken is available to residents of the US, Canada, Japan, and various European nations.
Kraken does not currently accept deposits via credit cards, debit cards, PayPal, or similar services. In 2014, Kraken became the number one exchange in the world when it comes to Euro trade volume. They also pioneered the first verifiable cryptographic proof of reserves audit system and was also listed on the Bloomberg Terminal within the same year. It has a solid, yet non-beginner-friendly crypto trading platform.
Pros
- High-security measures, very safe to use, two-factor authentication on the account login
- Reasonable fees on deposit/withdrawal
- Sleek design, a good overview of the trading market with lots of customizations
- A lot of cryptocurrencies and pairs to trade
- Proof of reserves audit
- Popular with experienced traders for excellent services
- Staking services, OTC, Margin, Indices, Futures, Dark Pool, Account management, Cryptowatch
Cons
- Not exactly beginner-friendly
- A slow verification process for intermediate and pro-level accounts
- Website slow on occasion
- No credit/debit card deposits
Understanding the Types of Crypto Exchanges
To choose the best exchange for your needs, it is important to fully understand the types of exchanges.
Centralized Exchange
The first and most common type of exchange is the centralized exchange. Popular exchanges that fall into this category are Coinbase, Binance, Kraken, and Gemini. These exchanges are private companies that offer platforms to trade cryptocurrency. These exchanges require registration and identification, known as the Know Your Customer (or Know Your Client) rule.
The exchanges listed above all have active trading, high volumes, and liquidity. That said, centralized exchanges are not in line with the philosophy of Bitcoin. They run on their own private servers, which creates a vector of attack. If the company's servers were to be compromised, the whole system could be shut down for some time. Worse, sensitive data about its users could be released.
The larger, more popular centralized exchanges are by far the easiest on-ramp for new users, and they even provide some level of insurance should their systems fail. While this is true, when cryptocurrency is purchased on these exchanges, it is stored within their custodial wallets and not in your own wallet that you own the keys to.
The insurance that is provided is only applicable if the exchange is at fault. Should your computer and Coinbase account, for example, become compromised, you would lose your funds, and you would not likely have the ability to claim insurance. This is why it is important to withdraw any large sums and practice safe storage.
Decentralized Exchange
Decentralized exchanges work in the same manner that Bitcoin does. A decentralized exchange has no central point of control. Instead, think of it as a server, except that each computer within the server is spread out across the world, and an individual controls each computer that makes up one part of that server. If one of these computers turns off, it does not affect the network because plenty of other computers will continue running the network.
This is drastically different from one company controlling a server in a single location. Attacking something that is spread out and decentralized in this manner is significantly more difficult, making any such attacks unrealistic and likely unsuccessful.
Due to this decentralization, these types of exchanges cannot be subject to the rules of any regulatory body, as no specific person or group is running the system. The individuals who participate come and go, so there is no one individual or group that a government or regulatory body can realistically pursue. This means that those trading on the platform do not have to declare their identification and are free to use the platform in any manner they choose, whether legal or not.
Methodology
CryptoCoiney is dedicated to helping those interested in cryptocurrency investment make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top Bitcoin exchanges for investors of all levels. The landscape of cryptocurrency can be quite intimidating. We have chosen exchanges that we believe are trustworthy, secure, easy to use, and have had a long-standing and proven level of quality.
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Frequently asked questions
A crypto exchange is a marketplace where you can buy and sell cryptocurrencies, like Bitcoin, Ether or Dogecoin.
Crypto exchanges work a lot like brokerage platforms you may be more familiar with. Each offers a portal where you can create different order types to buy, sell and speculate on cryptocurrencies with other users.
Crypto exchanges can be centralised, meaning they are managed by one corporate authority, like a brokerage company that facilitates the security of trades, or decentralised. Decentralised exchanges generally distribute verification powers to anyone willing to join a network and certify transactions, much like cryptocurrency blockchains themselves. This may help increase accountability and transparency as well as ensure an exchange can keep running if something happens to a company running an exchange.
To buy cryptocurrency, you’ll need to create an account with a crypto exchange. You may need to obtain a crypto wallet to hold your cryptocurrency, or your exchange may provide one. Be careful when picking a crypto exchange as some provide wallets that do not let you transfer your coins off of the platform. This may create security risks, for instance if they are hacked. You’d have to sell and rebuy your coins, which might have tax implications.
Once you’ve picked an exchange and a wallet, you’ll be able to buy crypto by transferring money into your account You may even be able to buy crypto with a credit or debit card, though this may carry additional fees, some of which can get quite high, possibly up to 5% of your transaction. Some crypto exchanges will let you use other cryptocurrencies or their own branded stablecoins to fund transactions.
Exchanges have different requirements, often depending on the type of cryptocurrency you want to buy. You may be able to buy fractional shares of coins for pennies or just a few pounds. Be sure to check your chosen crypto exchange’s requirements for the coin you want to buy.
To open a crypto exchange account, visit the exchange’s website or download its app. Each crypto exchange has its own unique registration process, and with some, you may be able to make an account and buy and sell small amounts of crypto without verifying your identity or submitting much sensitive information. But as the industry has evolved, measures to prevent money laundering and fraud have been introduced. In general, you’ll need to provide:
- Name
- Date of birth
- Postal address
You may also have to verify your identity by submitting photo identification.