Top Crypto Exchanges and their USPs of 2022

News | August 9, 2022 By:

Opening an account with a crypto exchange is a great way to start your cryptocurrency journey if you want to buy, invest or sell crypto. Crypto exchanges work just like online brokerage platforms where you are provided tools that make trading digital currencies like Ethereum, bitcoin, Solana, etc., seamless.

Choosing the right exchange platform for your cryptocurrencies can be daunting because each platform has specific features that depict them from other platforms and their unique selling points, which they capitalize on to give you a seamless and efficient trading experience. It will even roll out to every platform you use, for instance, to invest in esports bets.

To ensure that you make the right decision on the best crypto exchange for your crypto journey, we’ve compiled a list of top crypto exchange and their USPs in this article to make your decision-making process easier.

Crypto.com – Best Mobile App

If you are looking for an ideal mobile crypto trading experience, Crypto.com is your best bet, thanks to its range of amazing features, products, and many supported assets.

Crypto.com is an exceptional crypto exchange with the best mobile app platform, easily navigated by newbies and experienced traders. The app offers a variety of features and products which users can use on the go. Users can buy, sell, invest, and earn interest on the mobile app on their crypto wallets. For instance, some traders use it to invest in esports betting, which is easy and safe.

Gemini – Best for Security

Gemini prioritizes the safety of your coins and investments on its platform. They have hot wallet insurance to preempt a security breach. Before trading on the platform, you must complete a two-step authentication process to curb potential scams. This ensures the security of your account on the platform and allows you to approve and review any device logged onto your account. 

Gemini takes the security issue of their platform further by being SOC 2-certified; that is, they have third-party auditors who ensure the company is fully secured and follows the standard financial security frameworks. 

Gemini exchange platform is built with professional traders in mind; the platform provides a professional trading dashboard and supports over 70 tokens and digital currencies. It also makes it easy for users to pay for goods and services with their cryptocurrency wallets. 

Although Gemini provides users with a highly secured platform, its charges are quite high. However, paying a high fee for the safety of your trades and investments is essential for the standard security on the platform. 

BitMart – Best for Altcoins

BitMart is your go-to exchange app for non-popular tokens and coins. The platform is available in over 160 countries and supports over 1000 tokens and digital currencies. BitMart has demonstrated its platform as a leading trading platform for altcoins, offering more assets than its competitors, which includes options such as esports odds.

BitMart also provides users with an exchange earn feature that allows users to receive interest on their assets maintained with the exchange. When holding the exchange native token BMX, users can get access to trading fee discounts. 

While BitMart has much to offer skilled cryptocurrency traders, the exchange has received poor customer feedback. For instance, several complaints from Trustpilot users reported poor customer service, lack of transparency, and withdrawal issues. Regardless, there are other positive reviews.

Bisq – Best Decentralized Exchange

Bisq is an open-source crypto trading platform that allows users from different parts of the world to trade tokens and digital currencies in a peer-to-peer method. It supports over 80 digital assets. The decentralized exchange does not mandate users to conduct identity verification and is not limited to users in specific parts of the globe. 

On Bisq decentralized exchange, users can trade Bitcoin and other cryptocurrencies using diverse payment methods, including ACH transfers, cash deposits, and bank wire transfers. 

Bisq is popular among early cryptocurrency enthusiasts because of its similarities with the first cryptocurrency–Bitcoin. It stays true to many of Bitcoin’s values, such as decentralization, privacy, and sovereignty, which makes the exchange not beginner-friendly. The exchange is more targeted at experienced crypto traders. 

Kraken – Best for Experienced Traders and Low Fees

Kraken is one of the most actively used exchange platforms in most countries. 

With its low-fee trading benefits on the pro version—Kraken pro, you can buy, store, and trade over 100 cryptocurrencies.  

Kraken has established itself over the years as the go-to platform for experienced and beginner crypto enthusiasts and has retained its prestige as a credible and competent trading platform. 

Kraken offers two platforms, its primary trading platform, and Kraken Pro, which is ideal for experienced traders. The Kraken Pro provides highly intelligible market survey tools that provide insightful clarification of trade. 

The funding options on Kraken are limited, with wire transfers being the major payment method for its users. However, ACH transfers are not supported on the platform.

Bottom Line

If you’re looking to start investing or trading cryptocurrency, deciding on the best exchange for your specific needs is crucial. You must decide if you want many digital assets, the fees required to trade, and the best mobile platform for a seamless trading experience with adequate security.