The crypto market is becoming more and more popular daily, and the number of people trading on crypto exchanges is rapidly growing. People are investing in cryptocurrencies as a way of diversifying their portfolios and making a profit.
There are now more than 1500 different cryptocurrencies, with a new one being created almost daily. And there are over 200 different trading platforms to choose from, some with a specific focus on certain coins or regions or others that offer a wide variety of coins for trade.
But, it’s not always easy to find the best crypto exchange or trading platform that suits your needs.
In this article, we will be discussing 6 of the BEST crypto exchanges and trading platforms for June 2022. We will also provide you with information about what each one offers and why they are so great. So without further ado, let’s get started!
#1. Margex – The best in crypto derivatives & futures
Margex crypto trading platform is one of my favorite platform for trading crypto derivatives and futures. The great thing about this platform is their good leverages ratio, flexible deposit and withdrawal process.
The platform offers so many trading pairs and it’s easier to trade on it with just a click of button.
#2. Binance – Largest crypto exchange
Binance is arguably the best crypto exchange, with over 300 trading pairs, and Bloomberg has also ranked it the fastest exchange in the world.
Binance is a cryptocurrency exchange that offers a variety of trading pairs and has been ranked as the fastest exchange in the world by Bloomberg. The company was founded by Changpeng Zhao and Yi He, two former employees at OKCoin, in July 2017. Binance’s headquarters are located in Shanghai, China, and it operates with a crypto-to-crypto system meaning that there are no fiat currencies on offer.
The platform offers over 300 trading pairs to its users and provides access to ICOs from across the globe. It also features an advanced API for programmatic traders and mobile apps for iOS and Android devices.
Furthermore, the Binance crypto exchange offers its users access to features such as limit orders, stop-loss orders, margin trading and more!
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#3. eToro – Best for social trading
eToro is a trading platform that has been around since 2007. It has created an environment where people can trade and invest in stocks, forex, commodities and cryptocurrencies.
eToro is a regulated company based in Israel. The company offers its customers the opportunity to trade 24/7 on its website or mobile app. You can trade on the go from anywhere in the world with your mobile device or desktop and enjoy a wide range of features, including copy trading, one-click trading, portfolio tracking and more.
With the help of the platform, you can trade more than 11 instruments, including stocks, indices, commodities and cryptocurrencies. This crypto exchange platform offers traditional investments like stocks, ETFs and forex and digital assets like Bitcoin, Ethereum and Ripple.
#4. KuCoin – Most secure crypto exchange
KuCoin was founded in Hong Kong by a group of blockchain enthusiasts who had proved themselves in industry giants like Ant Financial (formerly known as AliPay), GF Securities and Youling. The founding team comprises top-tier experts from well-known technology and financial companies such as Google, Alibaba, Tencent & Baidu.
KuCoin is a digital asset exchange that provides users with secure, convenient and professional trading services. It has all the basic features traders need to trade digital assets, including a high-performance trading engine, multi-language support, a clear fee structure and a user-friendly interface. It also provides advanced features such as stop-loss orders or margin trading for more experienced traders.
KuCoin offers trading pairs with all popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, DASH, NEO and many more. The trading platform offers its token called KuCoin Shares (KCS).
#5. CEX.IO – Beginners’ favorite
The CEX.IO crypto exchange was founded in 2013 by a group of Bitcoin enthusiasts who wanted to provide people with an easy way to buy and sell bitcoins. It has grown rapidly since then, now serving more than 2 million customers worldwide.
CEX.IO is one of the best crypto exchanges because it has a user-friendly interface, low fees, and security features.
CEX.IO is a crypto exchange that allows users to buy and sell various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ethereum Classic, Dash, Monero, Zcash etc., using fiat money like USD or EUR or popular cryptocurrencies like BTC or ETH as well as other digital assets like XRP (Ripple). It also provides users with a mobile app.
#6. Coinmama – Top crypto exchange for advanced traders
Coinmama is mostly known as a Bitcoin broker that specializes in letting users buy Bitcoin and Ethereum with a credit card.
Coinmama is one of the best crypto exchanges for people who want to buy cryptocurrencies with a credit card quickly. It offers an easy way for beginners to get into the cryptocurrency market without going through any lengthy verification process. Coinmama has been operating since 2013 and has provided services to more than 2 million customers from over 200 countries.
The company also offers other services like buying Bitcoins with cash, buying Ethereum with cash, selling Bitcoin, selling Ethereum, exchanging Bitcoin and exchanging Ethereum.
Coinmama does not have a trading platform, but this is not necessarily a disadvantage. Coinmama has the lowest fees in the industry because they don’t charge any commission for purchases. Instead, they charge fees on the cryptocurrency network’s transaction fees which are much lower than credit card or bank wire transfer fees.
#7. Coinbase – Best crypto exchange overall for crypto enthusiasts
Coinbase is one of the world’s most popular exchanges; it has been operating since 2012 and has over 20 million customers. With its high liquidity and low fees, it is an ideal exchange for beginners who want to trade cryptocurrencies for profit or simply for their use.
The company is based in San Francisco and was founded in 2012 by Brian Armstrong and Fred Ehrsam. It has been featured on CNBC’s “The New York Times” as “the most popular bitcoin broker in America.”
Coinbase is one of the best cryptocurrency exchanges to buy Bitcoin, Ethereum, and Litecoin. It also provides a digital wallet to store these cryptocurrencies.
This crypto exchange has a simple interface that makes it easy to use. It has an app for iOS and Android, so you can also trade on your phone or tablet. Coinbase also offers a Bitcoin Wallet API that developers can easily use to build new bitcoin applications.
How to choose a cryptocurrency exchange
Before you start trading, you need to find the best cryptocurrency exchange. There are many factors that go into choosing the best cryptocurrency exchange for your needs, such as location, fees, and payment methods. We will focus on four major criteria that you need to consider when choosing your trading platform:
- Fees
- Coin Portfolio
- Trading Volume
- Currency Liquidity
#1. Crypto exchange fees
All exchanges charge a fee for using their service, and some charge more than others.
The first thing to look at is the fee structure of the cryptocurrency exchange. A good platform will charge a small fee per trade but won’t charge additional fees for things like withdrawing or depositing funds.
The best cryptocurrency exchanges will also offer a variety of payment methods – including credit card, wire transfer and PayPal – and have low transaction fees.
#2. Trading platform portfolios
The second factor is whether or not the exchange offers your desired coins or tokens in its trading pairs.
Your first step is determining what type of coins you want to trade-in. Do you want to trade in Bitcoin, Ethereum, or other coins? You’ll need an exchange that offers trading in those currencies or, ideally, the platform with the most diverse crypto portfolios.
A diverse portfolio is a collection of different assets that minimize the risk of large losses. The cryptocurrency market is volatile, and there are many risks for investors. So it is important to have a diverse portfolio to minimize risks.
#3. Trading Volume
Thirdly, you need to ensure that the exchange has a high volume of trading so that it will be easy to buy and sell when you need to.
Trading volume is one of the most important factors when choosing an exchange, and it shows how much trading happens on a given platform in a certain period. To ensure that you are trading on a platform with high liquidity, it’s important to check the trading volume before signing up for an account.
Cryptocurrency exchanges with high trading volumes are usually more liquid and have more currency pairs available to trade.
#4. Currency Liquidity
Lastly, you should ensure that your desired currency has high liquidity on the exchange so that it will be easy and cheap to buy or sell your desired currency.
Currency liquidity is important to traders because it affects the prices of assets on the exchange. Liquidity measures how easily an asset can be bought or sold without affecting its price. The more liquid an asset, the more freely it can be bought and sold, with less impact on its price.
The liquidity of a cryptocurrency exchange platform is determined by the number of buyers and sellers in the market and by the amount of volume traded over a time period. When many buyers and sellers are in an active market, prices are less likely to be impacted by one person’s trade or order.
Conclusion
There are are so many crypto trading platforms online and most platforms help their users to achieve their goals by offering the maximum support while others do not. Before we came to conclusion with the above mentioned platforms, we’ve used them in one way or the other.
As a crypto trader, we’d recommend Binance for your P2P trading and Margex for trading futures and derivatives if you want to make the most out of your trade knowing that all platforms have their strength and weakness.
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- I'm a professional digital marketer with over 7 years of experience in the field. I create well researched content related to finance, cryptocurrency, stocks, forex and metaverse related articles.
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