Do you want to know what is the best exchange to buy cryptocurrency? Opening an account with a cryptocurrency exchange is a wonderful place to start if you want to purchase or sell cryptocurrencies.
Crypto exchanges work in the same way as online trading platforms do, by giving you the tools you need to buy and sell digital currencies and tokens such as Bitcoin, Ethereum, and Dogecoin.
When selecting a cryptocurrency exchange, consider variables such as supported assets, fees, payment methods, and security. We examined these elements when compiling this list of the best cryptocurrency exchanges to assist you in finding the correct exchange.
What Is The Best Exchange To Buy Cryptocurrency? Our 5 Best Pick
Coinbase was formed in 2012 to make it easier for users to purchase, sell, and store Bitcoin. Today, Coinbase is a publicly listed cryptocurrency exchange with a total market value of more than $36 billion.
The cryptocurrency exchange, which was founded in San Francisco, is today a geographically dispersed organization with no headquarters and operations in over 100 countries.
It distinguishes itself by offering a user-friendly trading experience, strong security, and a variety of additional tools for expert traders.
Coinbase has been the go-to exchange for many first-time crypto purchasers due to its huge number of supported assets (150+) and simple site. The platform has the appearance and feel of an online banking tool, which most consumers are already familiar with, making the transfer to cryptocurrency investment straightforward.
Coinbase also protects the digital assets it maintains on behalf of customers and keeps US currency balances in FDIC-insured bank accounts to safeguard user cash from being lost in the event of a security compromise.
A variety of payment methods, including wire transfer and ACH transfer, can be used to fund trading accounts.
Furthermore, Coinbase provides choices for storing cryptocurrency. The initial option for new investors is to store their coins on the Coinbase.com exchange.
The second option is a non-custodial wallet (Coinbase Wallet) for advanced cryptocurrency users. When you store your cryptocurrency on Coinbase.com, Coinbase maintains the private keys and essentially keeps money on your behalf. The user has total control over their funds with Coinbase Wallet since they have the wallet’s private keys.
While Coinbase may be a decent exchange for both beginner and experienced crypto investors, trading fees can be hefty, ranging from 0% to 0.60 percent depending on deal volume.
Despite these disadvantages, Coinbase is still worth considering because of its numerous advantages.
Crypto.com, which was founded in 2016, has positioned itself as one of the world’s biggest cryptocurrency exchanges. It is presently available in 90 countries and accepts over 250 coins.
In addition to a huge variety of supported assets, Crypto.com offers a massive digital asset ecosystem that includes its blockchain, Crypto.org Chain; a native token called CRO; a crypto visa card; yield-generating crypto goods, and more.
The Crypto.com mobile app, on the other hand, stands out. While many crypto exchange mobile applications provide a watered-down version of the exchange’s web-based platform, Crypto.com placed a great emphasis on developing an app that offers a diverse variety of goods and features, allowing customers to benefit from the exchange’s ecosystem while on the move. Users of the mobile app may purchase, sell, trade, and earn interest on their cryptocurrency, as well as pay with it.
While Crypto.com has a large number of items and features, customer service is weak, according to TrustPilot comments from past and current consumers who give negative ratings. Furthermore, unless you trade in large volumes, you will be subject to quite hefty trading costs of up to 0.40 percent.
Because of its wide selection of goods and services, as well as its vast number of supported assets, Crypto.com is perhaps the finest option for an exceptional mobile crypto trading experience.
Gemini, founded in 2014 by Tyler and Cameron Winklevoss, distinguishes out for emphasizing security and compliance.
The New York-based exchange offers hot wallet insurance to ensure that customer assets are protected in the event of a security compromise. It also requires users to go through an identity verification process to decrease the possibility of fraud.
Gemini also encourages customers to use two-factor authentication to safeguard their accounts and allows them to check and authorize the devices they use to access their trading accounts.
Gemini also has SOC 2-certified security, which implies that third-party auditors have verified the company’s security and compliance processes.
Gemini, designed for expert traders, offers a professional-grade trading dashboard and supports over 75 digital currencies and tokens. Gemini also provides a bitcoin reward card and the ability to pay for products and services using cryptocurrency.
Fee structures change between Gemini’s main platform and the active trader platform. The major platform charges fixed fees for modest transactions and a relatively high 1.49 percent fee for deals over $200.
Maker-taker costs of up to 0.4 percent are charged by the active trading platform, with fees decreasing as your volume increases. These are also on the expensive side. However, the rather hefty cost may be a minor amount to pay given Gemini’s extremely strong security.
Gemini is ideal for traders and investors who like to trade on a highly secure platform.
BitMart, which was founded in 2017, is a worldwide cryptocurrency exchange that operates in over 180 countries. It enables users to purchase, sell, and store more than 1,000 digital currencies and tokens.
BitMart, which was founded in the Cayman Islands, has established itself as a major trading platform for small and mid-cap cryptocurrencies.
BitMart has more assets and trading pairings than its market-leading counterparts, thus investors wishing to add freshly released or obscure crypto assets to their portfolios will most likely find it on this exchange.
Additionally, BitMart users may utilize the Earn function of the exchange to earn income on crypto assets kept with the exchange. When owning the exchange’s native cryptocurrency, BMX, users can also get trading fee savings.
While BitMart has a lot to offer experienced crypto traders, the exchange has gotten some negative comments from customers over the years.
For example, some Trustpilot customers complained about withdrawal troubles, bad customer service, and a lack of transparency. However, there are some favorable comments as well.
Furthermore, in December 2021, BitMart had a security breach that resulted in the loss of $196 million in customer cash.
While BitMart has offered to refund consumers, the attack has severely harmed the exchange’s image.
Despite these disadvantages, crypto aficionados seeking to trade a diverse choice of lesser-known coins may find what they need on BitMart.
Bisq, which was launched in 2014, is an open-source cryptocurrency trading platform that allows people all over the world to trade a variety of digital currencies and tokens on a peer-to-peer basis. Over 100 digital assets are now supported.
Customers are not required to undergo a Know Your Customer (KYC) identity verification procedure, and the trading program is not restricted to users in certain jurisdictions.
Users may purchase and sell Bitcoin and other cryptocurrencies on Bisq using a variety of payment methods, such as bank wire transfers, ACH transfers, and cash deposits.
While Bisq is popular among early cryptocurrency users because it upholds many of the ideas on which Bitcoin was founded, such as decentralization, privacy, and sovereignty, the exchange is not for beginners.
The escrow system employed in peer-to-peer trading may be difficult for new users, and the relatively delayed deal processing may hinder first-time users and active traders.
Furthermore, because trading volumes are lower than on centralized worldwide exchanges, the exchange is more geared toward making smaller deals.
Bisq, on the other hand, provides everything you need to purchase and sell bitcoin for experienced crypto investors who want to trade on a decentralized, KYC-free platform.