Best US Crypto Exchange 2022 - Comparewise

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Best Cryptocurrency Apps

Crypto.com

$20
Welcome Bonus
250
Coins Available
  • Earn up to 8.5% on crypto
  • Earn up to 14% on stable coins
  • Earn extra with staking

KuCoin

up to 500 USDT
Welcome Bonus
$5
Min Investment
  • Trade 600+ coins
  • 10 million users
  • In 200+ countries

Gemini

$0
Min Investment
63
Coins Available
  • Super-safe protocols
  • Earn Up to 8.05% APY
  • Earn 3% rewards in BTC

Coinbase

$5
Welcome Bonus
$25
Min Investment
  • Trade 100+ coins
  • Largest US platform
  • Safe, insured by FDIC

Binance

$10
Min Investment
80
Coins Available
  • Super low fees (0.1%)
  • 25% discounts paying with BNB
  • Trade & withdraw affordably

Kraken

$10
Min Investment
100+
Coins Available
  • 190+ countries supported
  • Serving 9 million+ clients
  • Earn up to 23% with staking

Best US Crypto Exchange 2022

Launched in 2014 in New York, Gemini is a crypto exchange with 20 cryptocurrencies and over 25 fiat currencies.

This cryptocurrency exchange offers a bonus of $10 on sold or bought Bitcoins worth $100, and it also runs a Gemini Earn promotion for users to earn up to 3.5% interest with Bitcoins when they save crypto.

However, Gemini accounts have a $5,000 daily deposit limit and a $30,000 monthly deposit limit, so it’s not ideal for high rollers. You can also withdraw a maximum of $100,000 daily.

For security, assets are stored in cold storage, and user funds are insured by FDIC.

However, a fee of 0.50% is charged on trades, and a fee of between 0.99%-1.49% is charged on transfers. That’s pretty good compared to some of the best crypto exchanges, but there are better rates out there.

8 Factors to Consider When Looking at Cryptocurrency Exchanges

1. How secure is your money?

Your money’s security should be the most important consideration when selecting a cryptocurrency exchange. 

It is critical to be sure that a crypto exchange has no history of cyberattacks or theft. 

Priority should be given to exchanges that openly expose their management, regulatory licenses, company location, and team.

2. Is this platform well designed and easy to use?

One of the most important aspects for the average cryptocurrency trader is the user interface and functionality. 

Whether you are an experienced cryptocurrency trader or purchasing crypto for the first time, a clean interface and a pleasant user experience make user actions on the exchange more informed and efficient. 

User experience is subjective, and different people will appreciate different things ― make sure you find a UI that you like the feel of before committing fully.

3. What’s liquidity like?

BTC is traded on a market where investors and traders look for opportunities to buy and sell the currency. As a result, it is important to consider the liquidity of the exchange. 

In this case, liquidity refers to the ability to sell or buy an asset without significantly affecting prices. This, in turn, leads to a likely drop in prices.

When there are more buyers and sellers, there is more liquidity.

4. Is there an insurance fund?

Insurance funds are safe havens that protect traders from unforeseen losses, which can result in traders losing more money than they have made. 

Insurance funds are used to prevent shared losses, potentially giving you added peace of mind that there won’t be any unforeseen disasters.

Traders typically do not need to be concerned about shared losses when using a well-capitalized insurance fund.

5. Are there fees to pay? How high or low are they?

Transaction costs are a significant component of crypto trading, particularly if you are an active trader. Understanding the various fee structures used by crypto exchanges can help you save a significant amount of money.

Trading fees on cryptocurrency exchanges are typically charged based on the order types sent to the market. These are referred to as taker and maker fees.

6. How many coins are on this crypto trading platform?

You want to choose an exchange that offers a diverse range of coins, whether it’s in terms of cryptocurrencies offered or crypto contracts.

Common crypto coins include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • ChainLink (LINK)
  • Tezos (XTZ)

And many more.

Having a large range allows you to diversify your trading options, which is particularly important now that cryptocurrencies are receiving more mainstream attention than ever. 

7. What countries are accepted?

While it might seem evident, not all cryptocurrency exchanges are available globally and supported in all countries/states. 

This is because the cryptocurrency industry is heavily regulated by local financial regulations.

For example, even though a cryptocurrency exchange based in Australia accepts AUD, NZD, and USD deposits, an investor from New Zealand is often unable to deposit funds.

8. What are the possible payment methods?

Buying Bitcoin differs depending on the platform. 

Some exchanges need bank transfers, while others take PayPal, credit cards, and debit cards, and others only accept Bitcoin for purchases.

If you do not have any cryptocurrencies before joining an exchange, you must find a platform that accepts fiat currency (USD, EUR, GBP, etc.) to participate in the market.

Crypto & Bitcoin Exchanges FAQs

What Is a Cryptocurrency Exchange?

Cryptocurrency exchanges are online marketplaces where you can trade one type of digital asset for another based on their market value.

Binance is one of the most popular crypto exchanges at the moment.

What Are Fiat to Crypto Exchanges?

Buying cryptocurrencies with fiat money (USD, GBP, EUR, etc.) is referred to as fiat to crypto

Many online trading platforms were only permitted to trade crypto for crypto a few years ago, which is why this is even a thing. 

What Are Crypto to Crypto Exchanges?

Trading cryptocurrency for cryptocurrency is termed crypto to crypto. Cryptos have different value, i.e., 199.55 Litecoins = 1 Bitcoin

Most exchanges that only offer crypto to crypto tend to be for more advanced and experienced traders.

What Is the Difference Between a Centralized Exchange and a Decentralized Exchange?

Centralized Exchanges

A centralized cryptocurrency exchange is a platform where digital assets may be bought and sold. In this case, you must rely on a third party to oversee the transaction and protect the assets on behalf of the buyer and seller. 

These exchanges are also headquartered in one central location, leaving their servers vulnerable to hackers and rogue agents in the building.

Decentralized Exchanges

A decentralized exchange connects cryptocurrency buyers and sellers through a peer-to-peer marketplace. 

In contrast to centralized exchanges, decentralized platforms are non-custodial, which means that when transacting on such a platform, a user retains possession of their private keys. 

A decentralized exchange uses smart contracts that self-execute under certain conditions in the absence of a central authority.

These exchanges are spread across servers all over the world, making them nearly impossible to hack.

What Are the Best Crypto Exchanges for Beginners?

Coinbase is one of the most popular bitcoin exchanges and is perfect for beginners, with millions of users regularly. 

The site is designed in such a way that newcomers can easily browse through the platform. The Coinbase UI is incredibly user friendly and intuitive. With superb website performance, trade is always just a click or two away.

What Is the Safest Cryptocurrency Exchange?

Various crypto exchanges come with different measures, but Coinbase seems to offer the most security with all assets held in its hot storage and insured and a 98% user fund in cold storage.

Which Bitcoin Exchange Has the Lowest Fees?

Binance has the lowest fees, with 0.02% to 0.10% purchase and trading fees and 3% to 4.5% for debit card purchases.

How Do Crypto Exchanges Make Their Money?

Exchanges source revenue from different sources such as:

  • Commissions
  • Market making
  • Fund collection
  • Initial Coin Offerings
  • Initial Exchange Offerings
  • Tokens, etc.

Related Reading: Best Bitcoin Casinos in 2022

Conclusion – What Are the Best Crypto Exchanges in 2022?

The best crypto exchanges need to have a little bit of every positive thing around various crypto exchanges. 

All the reviewed crypto exchanges have their unique attributes. However, Binance just edges the rest with its all-around features.

With 50+ coins and low fees, Binance is the best crypto exchange all around.

Still, if you’re a newbie looking to learn the ropes, you can’t go wrong with the simple interface of Coinbase. It’s perfect for crypto beginners.

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Advertiser disclosure

Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

Get $20 CAD of BTC with promo code: COMPAREWISE
Min Investment
$100
Target Return
4-7%
Get up to $5,000 cashback on Canada's #1 trading platform.
Min Investment
$100
Target Return
Varied
Trace crypto on Nexo and earn up to 20% APR
Min Investment
$1
Target Return
Up to 12%
Crypto exchange starting with just $10
Min Investment
$1
Target Return
Varied
Trade 150+ cryptos plus use your crypto for purchases
Min Investment
$1
Target Return
Varied
Buy and sell shares in best-selling paintings
Min Investment
$15,000
Target Return
10-25%
Connect with you fave music & own shares of songs
Min Investment
$1
Target Return
Varied
Earn Up to 17% on your crypto and borrow USD
Min Investment
$1
Target Return
2-18%
Earn rewards when you buy and sell crypto on BlockFi
Min Investment
$1
Target Return
Up to 8.6%
Make, buy, and sell digital art NFT's using Ethereum
Min Investment
$1
Target Return
Varied
A marketplace for small and local business investment
Min Investment
$100
Target Return
10-15%
Online real estate investment in one platform
Min Investment
$25,000
Target Return
9-24%

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May 6, 2022
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