5 Best Crypto Exchange Platforms – 2022

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Crypto exchanges are where all the action happens with cryptocurrencies. They are where traders come together to convert BTC to ETH,  swap SOL for ADA, and all kinds of other crypto trades. They are also home to all sorts of trading tools you’ll need to be successful in trading. These include analytics dashboards, leverage trading, and even educational materials. 

Picking the best exchange for your needs will set you up for success in crypto trading. Here are the best 5 crypto exchange platforms you may want to use for your crypto transactions. 

Binance

Binance is one of the most popular exchanges with over 600 cryptocurrencies you can trade. Believe it or not, ~$75 billion is traded on Binance every day, among over 90 million registered users. 

The main selling point for Binance is its low transaction fees, which stand at under 0.1% for all transactions. This makes it a great platform for highly active traders. It has a great mobile app, so you can trade on the road, available for iOS, Android, macOS, Windows, and Linux. The Binance platform also has an API, so many other crypto apps can link seamlessly with Binance. 

The downsides to Binance include that it’s not available in all US states and its withdrawal fees. 

Coinbase

Coinbase stands out as the easiest place to buy and sell crypto. It’s supported in over 100 countries (including the US) with 98 million verified users. It has over $300 billion quarterly volume on the exchange and over $250 billion in assets held on the platform. 

With 150+ crypto assets available, it has a good selection but much less than Binance. Fees are also much higher than Binance, starting at 0.6% for taker fees and 0.4% for maker fees. 

Where Coinbase shines is in institutional trust and security. It is probably the most trusted crypto company in the world. Most of its assets are stored offline, and US Dollar deposits are insured for up to $250,000.

Huobi

Huobi is another high-volume crypto swap platform designed for professionals. It has almost $5 billion in daily trading volume and 10 million total users. It rivals Binance with its coin selection, with over 500+ digital assets available to trade. 

Huobi also has a focus on security. It holds a 20,000 Bitcoin reserve fund and has had no security incidents in almost a decade. This is due to its diligent use of offline coin storage, multi-factor authentication, and constant security monitoring. 

Fees for Huobi are 0.2%. Cons of the platform include its relatively low leverage options and lengthy account verification process. 

Uniswap

Uniswap is different from the centralized exchanges above. It is a protocol on the Ethereum network that automatically facilitates trades between buyers and sellers of crypto assets. When using Uniswap, you don’t match with another trader, but instead, buy and sell from the “liquidity pools” that automatically update prices and reserves based on what traders do. This means you can always make a trade using the Uniswap protocol. This makes it a decentralized exchange. 

Uniswap is becoming a popular protocol in the DeFi world. It is the largest project on the Ethereum network and has $1 trillion in total trade volume. The main drawback to Uniswap is that it only supports assets hosted on the Ethereum blockchain. 

Godex

Godex is unique on this list as it is the only anonymous crypto exchange. That means you can buy, sell, and trade crypto assets on Godex without giving any personal data, registering your identity, or setting up an account. There’s also no limit on the amount you can exchange.

Godex is a decentralized exchange that runs on a fully automatic protocol but also has 24/7 support. It has over 300 coins you can trade. Unlike the exchanges mentioned above, Godex does not have maker and taker fees when trading. Instead, there are fixed exchange rates for each cryptocurrency pair. 

The main drawback to Godex is by not collecting any personal information, it’s unable to provide some of the services of centralized exchanges, like credit card purchases. 

How to Choose the Right One?

If you’re a beginner happy to pay more for easy trading, Coinbase is a good place to start. For very high volume trading and low fees, Binance is a great option. If you want to keep yourself anonymous while trading, then Godex is indispensable. All of these are great exchanges. Pick the one that best suits your needs and happy trading!

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