Cryptocurrency exchanges are the place where you can buy and sell digital currencies to each other. Exchanges make it easy for people who want to trade cryptocurrency to do so with a minimal amount of fuss, as they allow users to deposit funds from an outside account and withdraw them back out at any time. In this post, we’ll be going over some of the most popular options on the market right now!
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10 Best Cryptocurrency Exchanges [Dec 2021 Comparison]
Here, we bring you the top 10 best cryptocurrency trading platforms list with the pros and cons to review.
1. Coinbase
Coinbase is arguably the best and most well-known among the crypto exchanges.
The platform allows you to purchase and invest your coins or tokens like Litecoin, Bitcoin, Etherum, and much more directly with the USD. Beginners also get an extra $5 for opening an account.
In addition, the platform gives you the chance to accrue interest on your USDT, gives you a reward for any task you complete.
Finally, Coinbase is one of the safest and largest cryptocurrency trading platforms out there in terms of user interface that allows for quick cryptocurrency investments. Although you get this convenience at a price.
Pros
- Interface is user-friendly and the easiest
- A good number of coins and tokens to make investments on.
- Trading on Coinbase is secure.
Cons
- The charges are very high unless you trade on Coinbase pro
- Adoption of new cryptocurrencies takes time
- Users do not control private accesses in wallet
2. Binance
The only setback anyone could have against Binance is the little difficulty that comes with the mobile app compared to many on this list. Aside from this, this platform is one of the best out there. It gives you access to promising cryptocurrencies like Neo and Cardano and many other coins and tokens. The stz token has a fixed supply of 99 million coins.
It should be noted that the US-based Binance has limited tokens and coins compared to the international version.
Pros
- Supports a variety of tradable tokens and coins
- Quick transaction times
- Low transaction fees
Cons
- Available in only a few states in the United States
- Low customer support
3. Voyager
Voyager is one of the first known crypto exchange platforms. Well known for its commission-free trading system.
Voyager has many top cryptocurrencies and good user engagement. It also offers interesting rates on investment holdings. For instance, new users can earn up to $25 in bitcoin after $100 crypto trades.
Pros
- The app-based interface is user-friendly
- Offers a commission-free trading system
- Offers good interest rates
Cons
- Withdrawal is slow and can take up to a day
4. BlockFi
If you’re looking for a cryptocurrency platform that goes beyond just exchanges, then BlockFi is the one to choose. BlockFi gives you a chance to do real cryptocurrency investments by allowing you to loan and gain interest in your assets. Another intriguing thing about BlockFi is that you have the chance of borrowing against your assets if you do not want to sell your coins.
Pros
- Commission and fee-free
- It is regulated and based in the US
Cons
- Supports just a few number of coins and tokens
- Free withdrawals are limited
5. Uphold
People who trade cryptocurrency know that many coins are only tradable in certain combinations, that is, one always goes back to either ETH or BTC.
Uphold comes to solve this by introducing the chance to trade multiple assets. Here, you can open your account and trade collective holdings directly without going back to cash.
It also allows you to trade coins like DOGE, XRP and many more that other platforms do not offer.
Pros
- Has a simple fee structure
- Has several coins and tokens including XRP
- Works for both mobile and desktop apps
Cons
- It is not so user-friendly.
6. Kraken
This is a real exchange-one of the foremost cryptocurrency trading platforms that offer a good number of tokens and coins, like DOGE, to deal and invest in. The platform also offers margin trading.
Pros
- High level of trust and security
- One of the foremost and respected cryptocurrency exchange platforms
- Good collection of tokens and coins to trade in
Cons
- The platform is difficult to use
- More number of coins and tokens for international traders than for US traders
7. eToro
eToro started its services quite a while ago, but not in the US, only the United Kingdom and Europe in general. The platform offers a wide range of digital holdings to trade on. As a bonus, they allow you to have a trial account to price trading before using your real funds.
eToro now offers a $10 extra if you find your account and trade up to about $100 in assets.
Pros
- Wide range of coins and tokens to choose from
- Allows you to check other users’ portfolios and copy them
- Allows you to start with little
Cons
- There are limited options available for traders in the US
- It is available in just 41 states in the US
- Has fewer tokens and coins compared to many on this list
8. KuCoin
Another heavy hitter when it comes to the sheer amount of coins available, KuCoin provides access to a wide library of altcoins at low fees.
Pros
- Has variety of tradable cryptocurrencies that come with low fees
- Can reduce trading fee by about 20% when you pay with KCS
- Offers margin trading
Cons
- On Kucoin, trading relies only on USD
- You may need to buy your crypto choice using P-to-P which may make the whole process complicated for beginners.
9. Crypto.com
With its base in Hong Kong, Crypto.com is one of the topmost and fastest growing exchange platforms for cryptocurrency. It, however, supports customers in the US.
Crypto.com offers access to well over 90 coins and tokens on an international scale and specifically offers up to 50 coins and tokens for US-based customers with good rates on their cryptocurrency saving accounts. However, there’s no platform for desktop users yet, it is only app-based.
Pros
- Variety of coins and tokens available
- Offers weekly interest to users account
- Allows a debit card to be linked to your crypto account
Cons
- Has a complex fee structure
- Only app-based, no desktop support
- Has little customer support
10. Hodlnaut
Hodlnaut is a platform alternative to crypto trading. It offers a savings and loaning system that lays focus on stable coins like Bitcoin. Through this system, it offers you earnings of 7.46% on Bitcoin!
Pros
- High interest on assets
- Doesn’t require a minimum balances
- Offers free $20 on your $1000 deposit
Cons
- Supports limited tokens and coins: USDT, USDC, ETH, BTC, and DAI.
- It’s based in Singapore. Transactions may be slow.
Conclusion
The cryptocurrency market is expanding at a rapid pace. This list of 10 best Cryptocurrency exchanges will help you find the right exchange for your needs and provide some insight into what to look out for when choosing an Exchange. If you are looking to trade in cryptocurrencies, or if you want to know more about this booming industry, take a moment now to read through our top ten list carefully before deciding on one that suits your needs. We hope it helps!