The surge in the popularity of crypto currencies has resulted in a dramatic increase in the number of cryptocurrency exchanges. Crypto exchanges function as platforms for buying, selling, and trading cryptocurrencies.
But as mentioned before, there are hundreds of different crypto exchanges available in the market, and it makes things too complicated, especially for beginners. That’s why our team has done the hard work for you and compiled a list of the top 10 crypto exchanges that we think may offer you good security and convenience in the future. Our recommendation, however, is to research thoroughly before engaging in any crypto exchange.
-
What are the qualities the top crypto exchanges should have?
Choosing the right crypto trading platform is essential. However, there are so many crypto platforms available that finding the right one might be difficult. Here are some factors that will help you decide which one is best for you.
-
Security:
Security should be your number one priority while choosing a crypto platform. The best exchanges are most likely to host regular bug bounty programs, where white-hat hackers are rewarded for identifying network flaws.
Good crypto exchanges also offer two-factor authentication options and security fund facilities to offset their customer’s losses caused by a hacking attack.
-
Liquidity:
A crypto exchange with good liquidity makes it easy to turn crypto into fiat and vice versa. Therefore, you should look for the crypto exchanges with most liquidity.
-
Number of available crypto trading options:
The best crypto platforms provide investors and traders with a wide range of investment and trading choices. Some exchanges, for example, offer over 300 different cryptocurrencies for purchase and sale.
A large customer base is also a very good indicator. It is a sign that other investors have put their faith in the cryptocurrency exchange platform.
-
What is crypto stacking?
Stacking is the process of locking/lending your crypto coins for a set period of time to help the operation of a blockchain network and earn rewards for it.
In a way, crypto stacking works much like putting money in a high-yield savings account, where you earn interest on your deposits. But not all crypto currencies have the stacking feature, only those cryptos that use proof of stake protocol (like ethereum, Cardano, Polkadot, solana, etc.) support stacking.
- What are the best crypto exchanges?
Given below are the top 10 of our favorite crypto currency exchanges.
Founded in 2017 in Hong Kong, Binance is currently one of the largest cryptocurrency exchanges in the market. It focuses heavily on altcoin trading. It is one of the few crypto exchanges that offer crypto-to-crypto trading for over 600+ different cryptos. It also has its native token named binance coin or BNB.
| Trust | Avg liquidity 899 (as of 23/08/2022) |
| In 2019 binance exchange faced a major hack of $40 million. The affected customers were refunded. | |
| Availability of coins | 600+ (as of 23/08/2022) |
| Fees | 0.1% per trade (complete fees structure can be found here) |
| Who is Binance owned by? | Changpend Zhao, Yi He (co-founder and CMO) |
| Staking | Yes |
You might ask, Can I trust Binance? and the short answer is yes. binance trading platform is the first crypto platform to have a security fund (known as SAFU) of $1 Billion to safeguard its users’ deposits. The majority of their clients’ deposits are stored in cold storage (secure wallets that are never connected to the internet), which makes hacking your binance account very difficult.
FAQs on Binance:
- Can US use Binance?
Currently, Binance is banned in the US. But if you live in the US then you can use binance us, although binance usa is not available in all US states.
- How much money do you need for Binance?
With Binance you can start online coin trading with just 10 US Dollars or 10 Euros.
-
Coinbase:
In 2012 when coinbase crypto exchange was first established, it was designed to be used for bitcoin trading. Since then it has grown a lot and now it is one of the best crypto exchanges in the market with 100+ different cryptocurrencies, 8.9 Cr.+ customers, and a robust ecosystem that supports over 13,000 financial companies.
| Trust | Avg liquidity 744 (as of 23/08/2022) |
| In 2021, the company experienced a hacking attack but the customers were compromised. | |
| How many coins does coinbase have? | 150+ cryptocurrencies for US customers (as of 23/08/2022) |
| Coinbase fees | Flat 1% on all transactions. |
| Reputation of the founder and co-founder | Brian Armstrong, Fred Ehrsam |
| Staking | Yes |
It has a simple yet robust interface that makes buying and selling crypto easier for newbies. The coinbase pro exchange also has some additional features which are more attractive to the top crypto traders.
FAQs on Coinbase:
- Can Coinbase be trusted?
Since Coinbase holds 98% of its assets in cold storage and is out of reach of cyber criminals, it is one of the safest digital currency wallets you can use.
- Can Coinbase take your money?
Coinbase may block or “freeze” customer funds in extremely rare circumstances, and only when required by law.
- Binance or Coinbase which one is better?
Binance is a better fit for people familiar with cryptocurrency lingo and investing options, whereas Coinbase is built for convenient, easy online coin trading. They are both designed to serve different types of people, and each is best at achieving what it is meant to accomplish.
- How do you make money on Coinbase?
You can simply buy some good cryptos and hold them in your Coinbase account. You can also stack your crypto holdings and earn extra rewards from them.
-
Gemini:
For both beginners and experienced traders, Gemini is an excellent coin trading platform. The comprehensive support center, industry-leading security features, and own hot coin wallet make Gemini a worthwhile option for crypto investors and traders.
| Trust | Avg liquidity 662 (as of 23/08/2022) |
| Faced a major hacking attack in 2022 that stole $36 million of IRA customers’ money. The IRA has filed a lawsuit against Gemini. | |
| Availability of coins | 120+ (as of 23/08/2022) |
| What is gemini exchange fees | The applicable fees may vary depending on the product and usage, the details can be found here. |
| Reputation of the founder and co-founder | The twins Cameron and Tyler Winklevoss, best known for their battle with Facebook founder Mark Zuckerberg over whether his idea for the social network was stolen. |
| Staking | Yes (currently only on Polygon) |
Gemini is one of the few coin trading platforms that have never been subject to a major hacking attack. Alongside its robust security features, it offers insurance to offset its customers’ losses from potential cyber-attacks.
FAQs on Gemini:
- What can you trade on Gemini?
For trading, Gemini offers 120+ crypto currencies and a limited collection of crypto-to-crypto trading pairs.
- Is Gemini safe?
An insurance policy protects gemini wallet against theft resulting from a security breach, a fraudulent transfer, or employee theft, which makes it a safe place for keeping your money.
- Is Gemini legal in the US?
Gemini is accepted in all 50 US states.
-
Karken:
Kraken is a US-based crypto exchange and bank that came into existence in 2011. It is also the first bitcoin exchange that was listed on the Bloomberg terminal. Aside from buying and selling, kraken crypto exchange also allows you to stake your crypto assets and earn up to 23% interest from it. (depending on the currency you have).
| Trust | Avg liquidity 744 (as of 23/08/2022) |
| The kraken exchange has never been hacked before. | |
| Availability of coins | 120+ (as of 23/08/2022) |
| Fees | The details of the kraken crypto exchange fees are listed here. |
| Reputation of the founder and co-founder | Jesse Powell |
| Staking | Yes |
One might ask, What is special about Kraken? Kraken is too serious about security measures. They have stored 95% of their clients’ deposits in karken offline storage units spread across the world. The karken exchange is also one of the few crypto trading platforms to promise platform security.
FAQs on Kraken:
- Is Kraken any good?
Kraken is one of the top crypto exchanges available in the market. With its top-notch security, low crypto trading fees, and wide range of cryptos, Kraken makes a good choice for beginners as well as seasoned investors
- Is the Kraken Japanese?
Kraken is a US-based crypto coins exchange, but the Japanese can also use its platform to trade crypto currencies.
- Is Kraken an American company?
Kraken is a US-based crypto platform and bank that came into existence in 2011.
-
Bitfinex:
Founded in 2012 in Hong Kong, Bitfinex is a crypto trading platform designed to cater peer to peer financial services across the world. The bitfinex trading platform is designed for professional and institutional traders, and its 100x leverage has helped it achieve some of the highest BTC/USDT volume in the industry.
| Trust | Avg liquidity 616 (as of 23/08/2022) |
| Faced with a major hacking attack in 2016, The affected customers were given BFX tokens in proportion to their losses. | |
| How many cryptos can you trade on bitfinex? | 170+ (as of 23/08/2022) |
| Bitfinex fees | The schedule of fees can be found here |
| Reputation of the founder and co-founder | Giancarlo Devasini, Raphael Nicolle |
| Staking | Yes |
The bitfinex exchange is well known for its competitive fees and advanced online coin trading options OTC (over-the-counter) trading which makes it an ideal coin trading platform for expert traders. But if you are new to the crypto market, then you should consider other options.
FAQs on Bitfinex:
- Can US residents use Bitfinex?
Currently, Bitfenix is not available for US citizens or residents.
- Is Bitfinex safe?
To keep their client’s deposits safe Bitfenix implements several industry-leading security standards including two-factor authentication, withdrawal protection, offline cold storage facility, etc. So in terms of security, Bitfenix would be a very good coin trading platform to keep your money.
- Is Bitfinex hacked?
In 2016, Bitfenix was the victim of a massive security breach that cost them 12,000 bitcoins. This massive bitfinex hack is often described as the heist of the century.
Established in 2018, coin dcx is one of the most trusted coin exchanges in India. With over 200 different cryptocurrencies, 13 million+ customers, and a competitive fee structure, it can be the best crypto trading platform for beginners.
| Trust | Avg liquidity 315 (as of 23/08/2022) |
| Never been hacked before, although a user lost his 3 bitcoins which was claimed to be an error from Coin dcx. | |
| Availability of coins | 200+ (as of 23/08/2022) |
| Coindcx fees | 0.1% per transaction, more about the coindcx trading fees can be found here |
| Reputation of the founder and co-founder | Sumit Gupta, Neeraj Khandelwal |
| Staking | Yes |
There are few crypto coin exchanges that have never been hacked before, and the coindcx exchange is one of them. They maintain 95% of their customers’ deposits in offline cold storage, and the remaining 5% is insured by BitGo.
FAQs on CoinDCX:
- How much money do you need for Coin DCX?
With Coin DCX you can start crypto trading with as low as Rs.10
- Is coindcx legal in india?
Coin DCX is a completely legal way to trade cryptocurrencies in India.
The coinswitch Kuber is a non-custodial app-only Indian digital coin exchange that came into existence in 2017. Since it is a non-custodial exchange it does not have its own liquidity, instead, it allows you to connect to different crypto exchanges to find the best exchange rate.
| Trust | Has never been hacked before. |
| How many coins are listed on coinswitch kuber | 90+ (as of 23/08/2022) |
| What is CoinSwitch Kuber fees? | The coinswitch kuber fees ranges between 0% to 0.5% (none for deposit and withdrawal) |
| Reputation of the founder and co-founder | Ashish Singhal |
| Staking | No |
Now the question is, Is CoinSwitch Kuber trustworthy? The coin switch kuber is one of the few Indian crypto exchanges to hold the ISO 270001 and SOC2 type-2 certificate. In addition to that, it also lets you have your key. So in terms of security, I think coin switch kuber would be a good trading platform for beginners.
FAQs on CoinSwitch Kuber:
- Which country made CoinSwitch Kuber?
CoinSwitch Kuber is an India-based cryptocurrency platform that came into existence in 2017.
- Is CoinSwitch Kuber banned in India?
CoinSwitch Kuber had to shift out of India in 2018 when the Supreme court enforced a ban on online coin trading. However they pivoted quickly in 2021 when the ban was lifted, and today they are one of the best crypto exchanges in India.
-
Zebpay:
Zebpay is one of the most popular centralized crytpo currency exchanges in India, with five million+ users. It was initially established in 2014 and then re-launched in 2020 with some significant improvements. The firm has grown a lot since then, and now it’s one of the most prominent Indian crypto exchanges.
| Trust | Avg liquidity 364 (as of 23/08/2022) |
| There was an indirect hacking attack before but the perpetrators were arrested and charged fairly quickly. | |
| How many coins are there in the zebpay coin list? | 150+ (as of 23/08/2022) |
| Zebpay exchange fees | Flat 15% fees on fiat withdrawals, you can find the details of zebpay fees here. |
| Reputation of the zebpay founder and co-founder | Sandeep Goenka, Saurabh Agrawal, and Mahin Gupta |
| Staking | Yes |
Zebpay is one of the most secured crypto trading platforms in India. It holds 98% of its assets in cold storage facilities. Transactions made through zebpay app are secured with top-notch security protocols like Omnitrixx and Bug bounty. It also has the ISO 27001 certification and holds the membership of IAMAI and BAAC.
FAQs on ZebPay:
- Is zebpay Indian company?
ZebPay was first established in 2017 in India. However, they have their registered offices in Singapore and Malta.
- Can US residents use Zeb Pay?
As of now, ZebPay is not available in the US.
- Can I withdraw money from zebpay?
ZebPay allows you to withdraw part or all of your fiat currency at any time.
-
Kucoin:
KuCoin is a crypto currency exchange that provides peer-to-peer trading in over 200 countries around the world. It includes several benefits like low fees, a big selection of crypto currencies, and a competitive pricing structure, which makes it a suitable coin platform for seasoned traders.
| Trust | Avg liquidity 575 (as of 23/08/2022) |
| The kucoin crypto exchange encountered a hacking attack in 2020 and the losses were compensated by the insurance coverage. | |
| How many coins does kucoin support? | 600+ (as of 23/08/2022) |
| Kucoin fees | The details of the kucoin trading fees can be found here. |
| Reputation of the founder and co-founder | Johnny Lyu |
| Staking | Yes |
KuCoin has recently teamed up with Onchain Custodian, a firm that provides comprehensive custodian services for industrial clients, to safeguard the assets of the kucoin account holders. The kucoin exchange also provides insurance to offset the losses of their clients if there is a hacking attack.
FAQs on Kucoin:
- Is KuCoin com legit?
KuCoin is one of the most trusted crypto exchanges, and the overall customer review indicates that it is a reliable and safe platform for trading cryptocurrency.
- Is KuCoin available in USA?
KuCoin is not licensed to be used in the US.
- Does KuCoin report to IRS?
Despite not having a US license, KuCoin’s privacy policy states that the company can share its information with the government.
- How much is KuCoin price?
As of 29/08/2022, the value of 1 kucoin token is around $9.5.
When choosing the best crypto currency exchange, functionality and security should be your primary concerns. Your favorite coin trading platform should have all of the functionalities you want to utilize, whether it be fiat-to-crypto pairings, liquidity aggregation, or specific altcoins and stablecoins. Furthermore, you should look for additional lines of defense, like two-factor authentication and bitcoin locks, which prevent hackers.
Disclaimer: I am not a certified financial adviser and this is not financial advice. The purpose of this article is to inform you about financial products and strategies. Consult your financial advisor before making any financial decisions.