A marketplace where you can buy and sell digital currencies or cryptocurrencies like Ether, Bitcoin, and Dogecoin is called a crypto exchange. Cryptocurrency exchanges are similar to any other exchange where you trade any other financial asset.
Some crypto exchanges sometimes support advanced trading features like futures trading and margin accounts; however, these facilities are unavailable to US-based traders. Crypto staking and crypto loans are other features offered at these exchanges. With crypto loans, you can earn interest on the crypto holdings that you have.
The best cryptocurrency exchanges are the ones that offer tutorials so that you can stay abreast with the ways of these exchanges and with the help of which you can stay informed about the latest developments. Below are the names of the largest cryptocurrency exchanges.
Names of top cryptocurrency exchanges
Top 10 cryptocurrency exchanges
Below are the names of the best cryptocurrency exchanges list.
- Binance
- Coinbase
- Kraken
- Crypto.com
- Gemini
- Gate.io
- KuCoin
- Bitstamp
- Bittrex
- bitFlyer
Out of the above list, let us find out more about the top 4 in the list of cryptocurrency exchanges and their pros and cons. It will help you to decide which cryptocurrency exchanges to trade on.
1. Binance.US – Offers more than 50+ cryptocurrencies for trade
Pros- Cost is low for general and spot trading
-Wide range of digital currencies for trading
-Excellent user reviews and high cybersecurity
Cons -Fewer options related to coins than its parent company Binance.
-Currently not available in all the states of US, that also includes New York and Texas
-For beginners, more tutorials are required.
2. Coinbase – More than 100 plus cryptocurrencies are available for trading.
Pros– The purchase process is easy
-For beginners, the interface is straightforward and user-friendly
-The educational learning platform will reward users that go through the crypto tutorials.
Cons- The convenience fees are higher.
–You must use a complex and separate platform if you want to access a lower price structure.
3. Kraken – More than 90 plus cryptocurrencies available for trading
Pros- Trading features are sophisticated and available for advanced users as well.
- Ratings for cybersecurity are high.
Cons- The trading features might prove to be complex for beginners.
4. Crypto.com – There are more than 170 cryptocurrencies present for trading on this crypto exchange
Pros- Ratings for cybersecurity are higher.
-Limited margin trading is available presently
-Users that have high balances in Crypto.com’s proprietary, stable coin Cronos or CRO will be able to avail discounts on trading fees and enjoy enhanced benefits such as 8% back on spending from a debit card.
Cons- If the trading volume is low, crypto investors must pay higher trading fees.
How do you choose the best cryptocurrency exchanges?
Few factors that will help you to decide how you can select the suitable crypto exchange include-
- Trading volume
- Types of available coins
- Security
- Ease of accessing (accessibility)
- Educational resources are available for users, amateur or advanced crypto investors.
Conclusion
It is really essential and significant for you to explore all these aspects of cryptocurrency exchanges. This is how you can become quite an expert in cryptocurrency gradually.
