Crypto trading platforms and exchanges are essential for traders in the cryptocurrency market.
While selecting a trading platform or exchange that fits their needs, traders must research the services and currencies on offer, which is a daunting task. To help traders, we have investigated some of the top crypto trading platforms and exchanges.
Here is a list of exchanges that we believe are worth looking into. We include a last-minute addition: Soon-to-be-launched crypto exchange XBO.com. The platform is set to offer features and services that are worth investigating, especially if you are in the process of opening an account. Find out more at the end of the article.
Best Crypto Trading Platforms and Exchanges
The following crypto exchanges and trading platforms were selected after analysing their services, facilities, tools, fees structures, and other criteria.
1. Gemini:
A new-generation crypto exchange, Gemini aims to provide advanced trading tools and the latest tokens.
According to the company, the users do not have to pay a commission on deposits and withdrawals.
There are no hidden charges, as the firm follows the official guidelines of a regulatory body.
Pros:
- Fast execution
- Latest coins and tokens
- No commission
- No hidden charges
- Supports fiat currency
2. Coinbase
The crypto trading platform currently offers 150+ coins, including:
- Bitcoin
- Ethereum
- Litecoin
- Dogecoin
- Cardano
Pros:
- Easy to use interface
- Range of tokens and coins to trade
- Highly secure and trustworthy
- Liquid exchange
- Advanced trading platforms
Cons:
- High fees unless using Coinbase Pro
- Clients do not control private key
3. Kraken
Kraken Pro is one of the first crypto trading platforms. Traders can turn to this crypto exchange for the lowest fees.
This exchange is a good choice for experienced traders because of professional features such as advanced order types, margin, and futures trading services.
Kraken was founded in 2011 and provides its services in most parts of the world. Kraken presently offers 69 cryptocurrencies, including some of the riskiest tokens. The exchange has a favourable fee structure.
Pros:
- Multiple coins and tokens to trade
- Low fees with Kraken Pro
- Liquid exchange
- High security level
- Strong market presence
Cons:
- Does not provide service in all US states
- Limited account funding options for traders
4. Crypto.com
Crypto.com was established in 2016 and is based in Singapore. It is among the fastest growing and largest crypto exchanges online. With a reach of 90 countries worldwide and 250+ cryptocurrencies, traders should check this platform.
Crypto.com has its own blockchain (Crypto.org Chain) and token (CRO) plus many other advanced services.
A unique feature of this crypto exchange is its support for US-based clients. It offers solid rates on crypto savings accounts.
Pros:
- 250+ cryptocurrencies
- Pays weekly interest on crypto savings
- Debit card linked with trading account
Cons:
- High fees
- Poor customer support
5. Voyager
The Voyager crypto trading platform was introduced in 2017 and is based in New Jersey. It is regulated in the US regulated and was the first crypto exchange to be publicly traded. It is an intuitive app-driven exchange and offers commission-free trading. The platform offers high interest rates on selected cryptocurrencies.
As of 2022, the company has raised $100.1 million since it went public. It routes orders, connects with exchanges to trade in the market, and offers over 80 digital assets.
Pros:
- App based interface
- Commission free trading
- Solid interest rates
Cons:
- Slow withdrawals
6. eToro
eToro cryptocurrency exchange has been part of the financial market since 2006. It is one of the leading social trading networks.
Traders can make diverse investments on the platform including crypto, stocks, commodities, and currencies.
Pros:
- Multi-asset platform
- Zero commission
- Free insurance
- Social trading
- Protects funds
Cons:
- Does not support many tokens and coins
- Limited options for US clients
7. XBO.com
The newcomer exchange is currently accepting sign-ups for early access.
XBO offers serious benefits to users that register and get verified during this period, in the form advanced loyalty status. This translates into exchange cashback, free withdrawals, favourable trading fees and randomized rewards in cryptocurrencies.
Pros:
- Emphasis on security
- Generous loyalty program
- Currency swaps
- Earn program
- Metal and virtual credit card
Cons:
- As of the time of writing the platform has yet to launch
Conclusion
If you are about to start trading crypto make sure you investigate as many platforms as you can. Depending on your needs and trading style, some might appeal to you more than others.
Interesting Related Article: “Cryptocurrency trading: what is it?“
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