- Beginner's Guides
Best Crypto Exchanges for 2022
Trading or investing in cryptocurrencies can be a bit confusing for beginners. Given the popularity of Bitcoin, Ethereum, and other digital currencies, it’s understandable why all sorts of investors want to get in on the action. But before you can get started, you’ll need a crypto exchange where you can carry out crypto trading.
If you’re new to the industry, it can difficult to know which wallets and exchanges to invest in. To help you pick the right one, we’ve put together a curated list of the best crypto exchanges of 2021.
Best Overall: Coinbase
Coinbase is one of the most popular cryptocurrency platforms that offers 50+ cryptocurrencies for exchange. The company recently announced its listing on the Nasdaq index, which gives investors a regulated vehicle for crypto access. Coinbase has an easy-to-use interface that makes it easy for beginners to carry out both one-time and recurring transactions with ease. The barrier for entry is greatly lowered with the convenience and user-friendliness that it offers. Coinbase also comes with insured custodial wallets for traders and investors to further prevent against loss in case of a data breach.
For advanced users, there’s Coinbase Pro which is one of the safest and most robust platforms out there. It also has a cheaper fees structure compare to Coinbase and has more features. The only major drawback is that Coinbase has a confusing fees structure and the fee is relatively higher compared to other leading platforms.
I use coinbase every single day. I pay everything using my coinbase card. Best part about it is the Crypto Cashback I get. For example I get 4% cashback XLM and 1% Ethereum there is a lot more coins to select your cashback from such as Bitcoin, but I personally focus on those two coins when it comes to cash backs. If you are a neewbie and want to get started with cryptocurrency coinbase is your best option. I have made more than $50 worth of crypto, some doubled in value, just by answering fun and educational quizes.
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Best for Crypto Enthusiasts: Binance
Binance is a US-based exchange that offers a broad range of cryptocurrencies for trade and lower transaction fees compared to other competitors. For casual crypto enthusiasts, the platform offers a straightforward, form-based interface that can be used to intuitively buy and sell currencies under $10,000.
For more advanced users, Binance offers enhanced capabilities with a variety of trading order types such as market and stop-limit. Users also get access to a powerful dashboard that highlights important data such as trading volumes and trading highs and lows.
Binance users can also enjoy a wide range of cryptocurrencies. High-volume crypto traders can enjoy lower transaction fees with time, although you’ll need to trade at least $50,000 worth of crypto in a month. But even without lower fees, Binance offers some of the lowest base rates and covers all crypto trader’s needs, including OTC trading.
I use Binance US everyday. I am currently staking ALGO and ATOM on Binance. What I like about Binance is how easy it can be to buy and sell cryptocurrency as a beginner and it will ease you into becoming more aware of your game. Sign up to Binance Here. 👈
Best for Smaller Transactions: Cash App
Cash App is a peer-to-peer money transfer system that can easily transfer cryptocurrency between users. It’s similar transfer solutions like Venmo that essentially acts as a bank account. Whether you’re using it to split the cost of a meal with a friend, shop online, or pay rent to a roommate, this service is quick and easy to use for beginners. Cash App also allows users to have their own Cash App debit cards that can be used for even more transactions.
Cash App currently offers transactions only in Bitcoin. It’s designed for smaller daily transactions and allows users to withdraw up to $2,000 of BTC every 24 hours. The platform also has a user-friendly mobile app that allows users to invest in ETFs, stocks, and Bitcoin as a first-time investor. However, similar to Coinbase, users don’t have access to private keys to wallets.
You can increase your monthly sending and receiving limits by fully verifying your Cash App account.
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Best Decentralized Exchange: Bisq
Bisq is an up-and-coming platform that also offers free and open access to currency. While banking products require provable legal identification, exchange of Bitcoins can be done without any identification; the platform does not take into regard the location or nationality of the person. The Bisq exchange is available on both Android and iOS stores and comes with more than 25 payment options for users.
Since the platform isn’t designed for active trading, transaction speed is often slower, and trading volumes are comparatively lower too. That being said, it has made quite some progress in emerging economies because it’s instantly accessible to anyone with a smartphone or computer.
Want to read more analysis articles on the cryptocurrency market? Stay up to date on Urban Crypto. Our beginners site for crypto news and industry info brings you all the latest updates and comprehensive guides to cryptocurrency basics that cover various topics, including a beginners guide to Binance, a beginners guide to Coinbase, how to stake in cryptocurrency, and which wallets and exchanges to invest in.
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