When you’re looking for the best crypto exchanges, there are several different options. There are Binance, OKX, Uphold, Gemini, and iTrustCapital. You’ll need to decide which one is right for you before committing. Each option has different advantages and disadvantages, so you should be aware of these factors before choosing your next crypto exchange.
The Best Factors of Crypto Exchanges
1. Binance – Best to Conduct Business Activities
Binance is a top-ranked crypto exchange with a reputation for being eccentric. It often conducts business activities without permission, which has led to regulatory issues in some jurisdictions. However, it is important to note that acting without restriction allows for faster innovation, and the exchange has repeatedly demonstrated this.
For example, Binance Coin is now one of the top five coins by market capitalization, a notable accomplishment for a new exchange.
Besides offering hundreds of cryptocurrencies, Binance provides access to indicators and other advanced trading features. Binance allows users to access their portfolios and view historical trade history and offers several types of orders, including limit, stop, and trailing stop orders.
The platform allows traders to utilize various trading tools, including real-time charts and exponential moving averages. Users can place trades through the web, mobile, or desktop.
2. BitMart Crypto Exchanges – Best for Altcoins
BitMart is a global digital asset trading platform that provides users with safe, professional, and convenient services. It is one of the top-ranking exchanges, especially regarding trading altcoins. Its innovative product design, expansive market depth, and user-friendly interface make BitMart a favorite among traders worldwide.
The introduction of its new token, BMX, has also attracted much attention and activity on the platform. It offers users access to over 100 altcoins from major blockchain networks such as Ethereum, EOS, NEO, Tron, and many more.
BitMart is committed to providing the best user experience for its clients by offering low transaction fees, 24/7 customer service, and fast withdrawal processing times. It has also put in place robust security measures to ensure the safety of user funds. All these features make BitMart a great choice for trading altcoins.
3. Uphold – Best for Connecting Multiple Countries
Uphold is an exchange where customers can exchange cryptocurrencies and fiat currencies. It supports over 30 currencies and supports bank connectivity in 35 countries.
Unlike other exchanges, Uphold does not charge a commission for sending and receiving money. Customers can provide a QR code associated with their linked bank account to send and receive money.
During registration, users must provide their residential address, government-issued ID, and a clear picture of themselves holding the ID. Once this is verified, users will receive an auto-generated email with an activation link. Clicking the link will allow users to confirm their identity and start trading. To ensure security, Uphold also requires users to stake their tokens for a certain period of time. This process is designed to prevent fraudulent transactions.
4. iTrustCapital – Best for Security Guidance
The website of iTrustCapital is very user-friendly. Users do not have to understand the technical jargon, and the website provides guidance when opening an account. The instruction system is easy to follow, and you can hover over the elements to learn more.
The site has several layers of security to protect customers. It uses institutional-grade storage and multi-factor authentication to prevent hackers from accessing your account. It also offers services like staking, which allows users to lock their crypto assets for a certain period to build their wealth.
5. Gemini – Best Security Layerfor Crypto Exchanges
Gemini is a well-established crypto exchange focusing on responsibly taking care of cryptocurrency assets. It offers a user-friendly platform for both beginners and more advanced traders. It is one of the leading exchanges around. To get started with a Gemini account, follow the steps below.
The security layer of Gemini is a limited liability company based in New York State, which makes it highly regulated. Its platform is available in over 60 countries. The company was founded by the Winklevoss twins, Cameron and Tyler. They are famous for fighting with founder Mark Zuckerberg over the Facebook concept.
The twins launched Gemini in 2014, and the exchange’s first activity day was in October 2015. In October 2015, the New York Department of Financial Services approved the company as the first licensed exchange for Ether, the native cryptocurrency of the Ethereum platform.
6. eToro – Best for Saving Digital Assets
To purchase cryptocurrency on eToro, you must deposit funds into your account. You can use a debit or credit card to do so. However, bank transfers can take up to 4 or 7days to settle. Once you have made your deposit to get the best crypto exchanges, you will be able to search for the cryptocurrency you’re interested in.
eToro offers an extensive range of digital assets. However, it’s important to remember that eToro is not available to all residents of the United States.
For example, Minnesota, Nevada, Tennessee, or Massachusetts residents cannot access eToro’s crypto exchange services. Coinbase, on the other hand, is licensed in every state but a few, including California, Illinois, Minnesota, and Nevada.
7. Bitstamp – Best for Buy & Sell Crypto
With over 5 million users, Bitstamp is one of the best places to buy and sell crypto. It’s easy to use, offers a no-bs, no-glitter environment, and is popular with newcomers.
The site also offers various features for institutional and retail traders. That’s why many people prefer Bitstamp to other best crypto exchanges.
The first step in creating an account with Bitstamp is to fill out personal information. After doing this, you’ll get a verification email containing a link to change your password. During this process, you’ll also be given the option to set up two-factor authentication, which will require you to enter a different type of password each time you log in. The verification process usually takes a few days but could take longer.