Understanding cryptocurrencies may be difficult on its own, and if you’re new to crypto trading, choosing the appropriate platform to buy and sell popular commodities such as bitcoin, ethereum, and litecoin can be much more difficult.
Most cryptocurrency exchanges also include staking incentives (for holding a crypto asset for a certain length of time), margin trading, crypto trading tools, and other services.
We’ve prepared a list of the top cryptocurrency exchanges for buying and selling bitcoin assets. Continue reading to discover the best choice for you.
What are the features important to look at when deciding on an exchange?
Authenticity and safety
It is critical to research to ensure you are selecting a reputable and safe site. The early example of Mt. Gox and the most recent breach of Coincheck serve as significant cautions to potential cryptocurrency investors to investigate the security protocol of the exchange.
The responsibility for preventing scams in the bitcoin market rests on the exchanges. And that is where tokens come in handy. It is the duty of exchanges, with the assistance of tokens, to prevent this fraud.
Method of purchase
The process of buying bitcoin differs depending on the platform. Some exchanges need bank transfers for deposits, while others allow PayPal, credit and debit cards, and Bitcoin for purchases.
If you do not have any cryptocurrencies before joining an exchange, you must choose a platform that takes fiat money to access the market. It is also essential to consider how long it takes to execute a transaction, and some systems execute transactions immediately, while others may take days or weeks.
Supported tokens
Most exchanges support Bitcoin and Ethereum, but cryptocurrency investors understand that this is just the tip of the iceberg. There is a considerable difference in the cryptocurrencies backed by various exchanges; certain platforms, such as Binance, trade a large list of altcoins, while Coinbase only trades four main cryptocurrencies.
Choose an exchange or exchanges that support any cryptocurrency tokens you want to purchase, regardless of your risk tolerance. These exchange rates are affected by indicators like as 24-hour volume and market capitalization, which should be kept an eye on.
Knowing your platform
Having an awareness of the platform you are going to trade on is always a safer option. Mainly there are three types of exchanges for crypto.
The two very common names are Binance and Coinbase for purchasing and trading cryptocurrency. Every transaction performed by the user on any platform comes with a cost.
Some P2P exchanges work in a close-knit manner. One good example is Cointal. Here, both buyers and sellers are in direct communication and are in full agreeability for every transaction.
Such exchanges not only maintain a safe and trustless mechanism for trading crypto but also assist in reducing network congestion.
“Dealing on a P2P basis helps eliminate any difficulties and problems that may emerge from conventional exchanges,” says Cointal CEO Mohammed Imad.
Brokers like AVA Trade establish prices, and purchasers may acquire cryptocurrencies via the platform.
Structure of fees
Transaction fees and fee structures differ across exchanges, which should be considered while choosing a bitcoin exchange.
Functionality and user interface
One of the essential elements for the typical bitcoin investor is the user interface and functionality. Whether you are a seasoned cryptocurrency trader or purchasing bitcoin for the first time, a straightforward interface and a positive user experience make user activities on the exchange more informed and efficient. The user experience is subjective, and various interfaces will appeal to different individuals.
However, the exchanges with the “best” user experiences will witness the most increase in transaction volume over several years. Because its user base primarily determines the value of an exchange, exchanges may increase their user base and transactions by improving their user experience.
Differentiating between a Crypto Exchange and a Crypto Wallet
A wallet is intended for the secure storing of your cryptocurrency. An exchange is intended to make it simple and fast to purchase and sell bitcoin. A wallet secures your private keys, while you give the exchange with your private keys when you utilize an exchange. The exchange will then serve as your custodian.
How do you buy cryptocurrency?
You create an account with one of these exchanges, deposit money, and then “swap” your USD or fiat cash for the cryptocurrency of your choice. Some cryptocurrencies only trade in particular pairings, so you may have to buy something like Bitcoin and then swap it for another token, depending on what you want to purchase.
Top Best Safest Cryptocurrency Exchanges in 2021
1) Coinbase
Coinbase makes it simple to purchase and trade cryptocurrencies, with robust security and clear pricing. Furthermore, Coinbase Pro has a reduced cost structure and considerably more functionality in charts and indicators.
Coinbase also provides investors and traders with guaranteed custodial wallets in which to keep their money. They offer data breach and hacker insurance. Your money is held in FDIC-insured bank accounts, which is essential since customers have reported hacked accounts and monies being taken. Coinbase custodial accounts are extremely handy for novice customers who are just starting, but Coinbase controls the private keys to the coins, not the investor.
Pros:
Coinbase offers a wide range of cryptocurrency options. It also features a very simple user interface and a high liquidity level.
Cons:
Fees may be significant if you do not use Coinbase Pro. Furthermore, the user has no control over the wallet keys.
2) Gemini
Gemini provides a broad range of cryptocurrency trading services to both consumers and organizations. Traders may use various platforms, such as the Gemini online exchange, the Gemini iOS and Android mobile applications, the Gemini Active Trader platform, Gemini Fund Solutions, and institutional trading tools.
Pros:
Though Gemini isn’t technically a personal wallet service, its two storage and custody solutions — Gemini Wallet and Gemini Custody — offer you the option of institutional offline storage or online storage for your crypto assets. Gemini custody also provides cold storage insurance coverage of up to $200 million.
With Gemini Earn, one can earn a good interest of 7.4% on their crypto balance. At the same time, Gemini Pay will enable you to utilize your assets to make purchases at over 30,000 retail locations throughout the United States.
Cons:
Gemini offers a variety of charge schedules for various accounts and account activities. While there is no cost for sending money through ACH or wire, credit or debit card transfers carry a 3.49 percent fee. There are also a limited number of cryptocurrencies available on the exchange.
3) Crypto.com
Crypto.com is one of the biggest and most rapidly expanding cryptocurrency exchanges. It is headquartered in Hong Kong, although it provides extensive assistance to clients in the United States.
You may now access over 90 tokens and coins globally, and 50 tokens and coins if you live in the United States. Furthermore, they provide competitive interest rates on their crypto savings accounts.
The one significant disadvantage is that it is now exclusively app-based; there is no desktop platform.
Pros:
A large number of currencies and tokens are supported. Weekly interest is paid on crypto savings. You may get a debit card that is connected to your account.
Cons:
Fee structure is complicated. There is no desktop support, just app-based assistance.
4) Binance
A fantastic platform for investing in cryptocurrencies such as Cardano or Neo. Although not as user-friendly as other top platforms on our list, they offer one of the most comprehensive trading platforms available. They do have a good mobile app, but it’s not as user-friendly as one would like.
Binance.us is the platform’s US version, with fewer coins and tokens to invest in than the international version.
Pros:Â
A large number of currencies and tokens are supported. Transactions are completed quickly. Fees are low.
Cons:
 In comparison to the rest of the globe, the United States has few choices, and it is not accessible in all 50 states.
5) CEX.IO
According to its website, CEX.IO is a global crypto exchange based in London that supports dealers in more than 99 percent of the world’s nations, including 48 US states. You may also trade Bitcoin and over 80 other cryptocurrencies on the exchange.
Pros:
 CEX.IO’s quick buy function (available exclusively for credit and debit card transactions), mobile app, staking incentives, and crypto-backed loans are open to all customers. However, more experienced traders may choose CEX.IO’s spot trading function (which allows you to place several kinds of crypto market orders) and margin trading accounts. Its aggregator and payment management services are available to institutions and companies.
Its maker fees vary from 0% to.016 percent, while its taker fees range from 0.1% to 0.25 percent. CEX.IO is also available on iOS and Android smartphones.
Cons:Â
Transactions made with debit or credit cards at CEX.IO may be costly. You will be charged a 2.99 percent fee for deposits. Withdrawals made by US citizens using a Visa card incur a service fee of up to 3% plus an extra $1.20, as well as a commission of up to $3.80. Users of Mastercard may anticipate a service fee of up to 1.8 percent plus an extra $1.20. A fee of up to 1.2 percent + $3.80 is also charged.
It’s also worth noting CEX.IO’s pricing structure. The maker/taker schedule on the exchange is based on your 30-day trading volume. Maker orders cannot be executed quickly since no other charges are available to match them; nevertheless, taker orders reach instantaneously, according to CEX.IO.
6) Bisq
Bisq exchange was established in 2014. It was one of the earliest Decentralized Autonomous Organizations at the time (or simply DAO). One of the exchange’s founders said that one of the network’s objectives is to “keep the original spirit of Bitcoin alive.”
Bisq may now be featured on many lists of the top decentralized exchanges. This exchange is not without problems characteristic of decentralized exchanges, but it has emerged as a major participant in this industry.
Pros:
Bisq trading is secure and decentralized. As an arbitrator, there is certainly the potential of earning a living. There is a diverse range of crypto and FIAT currencies accessible. This platform is secure against theft and hacking. It has two-out-of-three multi-signature security. It does not need you to be validated by a central authority, it does not keep your money centrally, and it does not even own any of your information. Your money, transaction details, and private data are all stored locally on your system.
Cons:
Some users may find this platform challenging to utilize. It also has rather hefty fees.
Conclusion
It’s difficult to determine the “safest crypto exchange” since it depends on your location, the currencies you want to purchase, the trading features you want, and a variety of other factors.
I hope you found our advice on the best cryptocurrency exchange online useful. Whichever cryptocurrency exchange you choose, we hope you discover a platform that meets your requirements. Good luck!
