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For quite some time now, the rapid growth of cryptocurrency has been the talk of the town, with investors eager to cash in on the promising profits of digital currency.
However, there has been some skepticism about the legitimacy of some crypto trading platforms, particularly given how easy some systems are to hack.
Nobody wants hackers to steal their Bitcoin. Whether you are an experienced crypto investor or are new to the market and want to learn more about crypto trading, this article will review the top ten crypto exchanges on the market right now.
10 Best Crypto Exchanges in 2021: First Look
- Best exchange overall -Binance
- Buy Bitcoin for beginners -Coinbase
- Top Bitcoin exchange -Kraken
- Crypto meets forex -eToro
- Great sign-up bonus -Crypto.com
1. Binance
(Best Cryptocurrency Exchange Overall)
Pros
- 50 or more cryptocurrencies
- Reputable
- Fees are low.
- Website interface that is simple to use
- Excellent security
Cons
- In seven US states, it is not available.
- Beginners should avoid it.
- Customer service is subpar.
Binance, which was founded in China in 2017, is one of the world's most popular cryptocurrency trading platforms. BINANCE US was launched in San Francisco in 2019 for US residents.
Binance allows you to buy, sell, and trade cryptocurrency for a fee of 0.1 percent. You can earn interest on your coins by staking them for a period of time and earning an interest rate ranging from 0.5 to 10%.
There are numerous payment methods available for purchasing cryptocurrency, including bank deposits, bank transfers, and credit/debit cards. However, debit card purchases are subject to a 4.5 percent fee.
Binance has an asset fund as insurance in the event that user funds are stolen, as well as a 2-Factor Authentication system (2FA), though reviews have reported glitches with the authentication system.
Nonetheless, there are more than 50 coins available on Binance, so you have a plethora of options if you want to trade Bitcoin, Ethereum, and a variety of other coins.
2. Coinbase
(Best Place To Buy Bitcoin for Beginners)
Pros
- View all of your coins in one location.
- Beginners will appreciate the simple user interface.
- Insured
- Buy Bitcoin quickly and easily.
- A wide range of altcoins are available.
Cons
- Expensive in comparison to other cryptocurrency exchanges
- There are few payment options.
- Wallet for custodial purposes
Coinbase, which was founded in 2012 in San Francisco, California, has over 30 million users worldwide, with users from 103 countries.
This crypto exchange primarily caters to inexperienced investors looking to trade in cryptocurrency, so if you're a beginner looking to learn the ropes without being overwhelmed by graphs and data all over the screen, this is the place to be.
Bank deposits, bank transfers, PayPal, and credit/debit card transfers are all accepted by Coinbase. However, the exchange has rather high fees, ranging from $0.99 to $2.99 for purchases under $200, with an additional 0.5 percent fee based on the amount traded.
In terms of security, COINBASE has FDIC insurance, which allows users to be fairly compensated if the company ceases to exist, and cold storage is used to set aside 98 percent of user funds, meaning that theoretically only 2% of your money could ever be stolen at any time.
They're decent odds!
In our opinion, there is no better place to start as a cryptocurrency beginner than Coinbase.
3. Kraken
(Best Customer Support of Any Crypto Exchange)
Pros
- Excellent security features
- Elegant user interface
- reputable web page
- There are seven fiat currencies.
- 50 or more cryptocurrencies
Cons
- Not for the faint of heart.
- Account verification is taking too long.
- Customer service is inadequate.
Kraken, based in the United States, debuted in 2011 and relaunched in 2013. The exchange currently supports 50+ cryptocurrencies, so you'll have plenty of options for trading.
Kraken offers three account packages: starter, intermediate, and pro. The starter account allows for cryptocurrency deposits, exchanges, and withdrawals.
It's ideal if you're just getting started with cryptocurrency!
Fees on trades range from 0.9 percent to 1.5 percent, depending on the amount of the trade. This makes it one of the more affordable crypto exchanges with a good reputation.
On the downside, despite customer support's assurances of 24-hour availability, the service has received some negative feedback.
You must provide ID for any deposit for account verification, which is great for security, and at the time of writing, 7 fiat currencies are accepted (USD, EUR, CAD, GBP, CHF, JPY, and AUD).
4. eToro
(Best Trading Platform For Crypto & FOREX)
Pros
- There is no commission on cryptocurrency.
- User interface that is simple to use
- It is simple for US crypto investors to sign up.
- Several coins were exchanged (BTC, ETH, etc.)
Cons
- Expensive trading fees
- Customer service is subpar.
- One currency based on an account
eToro, a social trading exchange, was founded in 2007 in Tel Aviv, Israel. It now has a headquarters in London and 17 million users spread across 100 countries. It debuted in the United States in 2018 with a cryptocurrency-only platform.
For investors, the exchange provides 6 crypto coins (Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and XLM). While it isn't much, these are the most popular crypto coins that most people want to trade, so it makes sense.
eToro offers a $50 bonus on crypto charges of $1,000 or more. However, depending on the trade amount, eToro charges a high 0.75 percent -2.90 percent trade fee.
There is no such thing as an ideal platform!
With only one standard currency, USD, deposits take about 7 days to clear for use. Because all foreign currency deposits and withdrawals are subject to fees, it is clearly preferable if you are a US trader.
Nonetheless, eToro may be the cryptocurrency exchange for you if you want a simple and reputable system that allows you to trade the largest coins on the market.
5. Crypto.com
(Best Sign-up Bonus)
Pros
- Excellent security
- Fees are low.
- A massive collection of cryptocurrency coins
- Sign-up bonus of up to $50
- Promotions on a regular basis
Cons
- App system that is complex
- Customer service is subpar.
- Inadequate privacy
- Uncertain funding source
Crypto.com, based in Hong Kong, was founded in 2016 and is a popular cryptocurrency platform that allows users to trade, buy, sell, and spend cryptocurrency. The exchange service is well-known for its incredibly low fees ranging from 0.04 percent to 0.20 percent.
Crypto.com allows you to have a non-custodial DeFi wallet with its own app. You can use it to link that account to your main one, making it easier to transfer funds.
The exchange service also provides a program called Crypto Earn, in which users can stake their coins for a renewable period of one or three months and earn up to 12% interest.
Generally, the longer you stake, the higher the interest rate you can earn.
In the event of a query, CRYPTO.COM offers 24-hour customer service via in-app live chat, email, and phone. Slow customer service, on the other hand, has been the source of their most serious criticisms, with some users reporting unanswered calls or delayed services.
Crypto.com is only available through mobile apps, so you'd better be a mobile trader!
Extra
If you are in Vietnam, you can trade cryptocurrencies on MuaBanUsdt.Vn with VND or a bank card. MuaBanUsdt.Vn exchange was established in 2021 in Ho Chi Minh City.
Pros
- Easy to use, user-friendly interface
- Low transaction fees
- 24/7 support
- Internal trading support for binary exchanges such as Wefinex, Raidenbo, Bitono, Aresbo, Deniex, Pocinex, Remitex, Binanex, Exbase, Alita (ALI)...
- Attractive agent commission policy
Cons
- Trading is mainly Tether (USDT)
Summary
The best crypto exchanges must have a little bit of everything that is positive about various crypto exchanges.
Each of the reviewed cryptocurrency exchanges has its own set of characteristics. Binance, on the other hand, just edges out the competition with its all-around features.
Binance is the best crypto exchange overall, with 50+ coins and low fees.
Still, if you're a newbie looking to learn the ropes, you can't go wrong with Coinbase's simple interface. It is ideal for cryptocurrency newcomers.
Whichever website you choose, we hope you find the best cryptocurrency platform for your specific needs!
