4 Best Crypto Exchanges of 2022

4 Best Crypto Exchanges of 2022

Cryptocurrency bitcoin business.

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Over the past several years, cryptocurrency has grown in popularity. Thanks to relatively low fees, investors find buying and selling cryptocurrency particularly attractive. Crypto isn’t connected to any world government, and it offers significant profit potential.

If you’re just getting started with investing in cryptocurrency, you may need some help navigating the exchange waters. Whether you intend to trade frequently or to purchase coins and hold them long term, this article recommends four of the best crypto exchanges based on exchange score, average liquidity and trading volume. 

4 of the Best Crypto Exchanges

The cryptocurrency space is rapidly growing, and crypto traders need a reliable source to track their assets. CoinMarketCap is the most referenced crypto asset price-tracking website worldwide. It provides investors with well-researched, unbiased and accurate information to make the most informed cryptocurrency buying and selling decisions.

The following chart lists four of the 25 most widely used cryptocurrency exchanges according to their exchange score, average liquidity and approximate trading volume, as reported by CoinMarketCap as of March 14.

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To understand how cryptocurrency exchanges are rated, you’ll want to know more about what each rating category means. 

Here’s a look at each type: 

  • Exchange score:

    Cryptocurrency exchanges are ranked and scored based on their amount of web traffic, average liquidity, volume and legitimacy confidence level. These factors are weighted, and an exchange is assigned a score between 0.0 and 10.0. 

  • Average liquidity:

    Simply put, liquidity is the ability of a crypto asset to be converted to cash essentially on demand. The average liquidity of cryptocurrency can also be determined by its bid-ask spread, which is the difference between the best available price to buy or sell an asset. 

  • Trading volume:

    A cryptocurrency’s trading volume is the number of assets or coins that have been traded, usually within a 24-hour period. 

Exchange
Exchange Score
Average Liquidity
Trading Volume
1.

Coinbase Exchange

8.4

706

$2.09 billion

2.

Kraken

8.0

73

5

$7.21 million

3.

Binance.US

7.0

590

$199

million
4.

Bittrex

6.0

421

$52.4 million

Data is accurate as of March 14, 2022.

Here’s more detailed information about these crypto exchanges and why they made this list.

1. Coinbase/Coinbase Pro

Overview: Founded in the U.S. in 2012, Coinbase is one of the largest cryptocurrency exchanges around. The service is available in more than 100 countries and has more than 89 million users worldwide.

Users can buy and sell Bitcoin using their bank accounts, credit cards and debit cards. You can also use the platform to trade USD coin, a Coinbase-built stablecoin.

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Customers report that rates are on par with other exchanges, but according to the Better Business Bureau, Coinbase Pro’s customer service leaves a lot to be desired.

Services and features: Coinbase’s main offering is a platform for buying and selling cryptocurrency. The exchange has a relatively good reputation and marketing strategy and a user-friendly interface.

Here are some of the available features:

  • Coinbase and Coinbase Pro wallet: Coinbase offers independent Android and iOS mobile wallets. Coinbase Pro offers more advanced features such as multiple wallets, open-order tracking and real-time market reports. The wallets store an investor’s private keys on their mobile device, and only the user has access to the crypto funds.
  • Funds transfer: You can instantaneously transfer funds between your linked Coinbase account and Coinbase Pro account for free using your same login credentials. Each account has a separate wallet.

Accepted currencies and payment methods: Coinbase Pro accepts the following currencies: U.S. dollars (USD), euros (EUR), Canadian dollars (CAD) and British pounds (GBP).

Number of coins available for trade: Hundreds including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), EOS (EOS) and Stellar Lumens (XLM)

Fees:

  • 0.05% to 0.60% fee for placing an order at the market price
  • Flat fee for transactions under $200 or a percentage of the transaction (whichever is greater)
  • Most standard buy transaction fees are 1.49%, and credit card buys are 3.99%.
  • Deposits are free via ACH transfer, but otherwise, users pay $10 per transaction.

Supported countries: Coinbase and Coinbase Pro offers services in more than 100 countries. See the website for a complete listing.

Average customer rating on G2.com: 3.9 out of 5

Best for: Traders of all levels looking for a simple yet secure way to exchange a wide variety of crypto

Pros:

  • Funds kept in FDIC-insured custodial wallets
  • Supports almost 150 cryptocurrencies
  • Earn crypto rewards if you qualify for the Coinbase Visa
  • Tutorials available for beginners

Cons:

  • High level of BBB customer complaints
  • Potentially high order fees of up to 0.60%

2. Kraken

Overview: Established in 2011, Kraken is headquartered in San Francisco. It claims to be one of the largest Bitcoin exchanges in terms of liquidity and euro volume. Kraken offers an advanced crypto trading platform with over-the-counter and margin trading options. 

Previously, Kraken’s unstable platform gave it a bad name. However, the exchange has redeemed itself and updated its services, focusing more on security and customer support. Additionally, its trading fees are very competitive.

Services and features: Kraken offers crypto traders an array of services on its platform, including:

  • Spot and margin trading:

    For more experienced users

  • OTC services:

    For high-volume trades (over $100,000). Frequent high-volume traders have access to a dedicated account manager to make trades for them.

  • Staking services:

    Crypto investors can earn a return on crypto assets that would normally be held and unused by other investors.

  • Personalized support

    : Kraken offers an upgrade to the platform’s Account Management program that provides one-on-one support with a dedicated Kraken representative.

Accepted currencies and payment methods: Kraken currently accepts the following fiat currencies: U.S. dollars (USD), euros (EUR), Canadian dollars (CAD), Australian dollars (AUD), British pounds (GBP), Swiss francs (CHF) and Japanese yen (JPY). 

Number of coins available for trade: Currently over 120, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Chainlink (LINK) and Curve (CRV). 

Fees: Among all the major Bitcoin exchanges, Kraken has some of the lowest fees. Your fees depend on your last 30 days’ trading volume and are generally based on a maker-taker basis. If you’re a maker and add limit orders to the exchange, you pay a lower fee than takers who fulfill existing orders. 

Here are the details on some of the fees you might encounter: 

  •  Spot trading fees range from 0% to 0.26%. 

  •  Stablecoin trading fees range from 0% to 0.2%. 

Supported countries: Currently, Kraken is available worldwide with some exceptions, including Cuba, Iraq, North Korea and Syria, but restrictions might apply. U.S. traders, except for residents of New York and Washington state, can participate on Kraken’s exchange.

Average customer rating on G2.com: 3.9 out of 5 

Best for: Advanced crypto traders interested in margin trading, futures and options

Pros:

  • Relatively low fees

  • Over 120 cryptocurrencies available

  • Supports a wide range of popular currencies

Cons:

  • May be too complex for new traders

  • Lack of tutorials on crypto

Good To Know

Many people worldwide see cryptocurrencies as the future of money. Early adopters of crypto are also adopting major financial technological innovations such as blockchain. If you’re a new cryptocurrency investor, you too could be positioning yourself to get ahead of the crypto curve.

3. Binance.US

Overview: The word Binance is a mashup of the words binary and finance. Launched by Binance, the spinoff Binance.US is one of the world’s largest cryptocurrency exchanges. Under full U.S. regulatory compliance, Binance.US offers customers in all but five states — Hawaii, Idaho, New York, Texas and Vermont — the same crypto trading services loved by traders worldwide.  

Services and features: Binance.US has quickly become an excellent trading platform for U.S residents because of the following features:

  • High liquidity

  • Attention to innovation and user security

  • Better customer service than its predecessor, Binance

In addition, staking is available for ALGO, ATOM, EOS, ONE VET and XTZ with no lock-up periods. 

Accepted currencies and payment methods: Binance.US accepts USD only.

Number of coins available for trade: Binance.US has more than 60 different cryptocurrencies on its platform, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Binance Coin (BNB) and Tether (USDT). 

Fees: 

  • Spot trading fee of 0.1%

  • Instant Buy/Sell fee of 0.5%

  • Trading fees

    depend on your trading volume over the past 30 days and your daily Binance Coin balance.

Supported countries: Binance.US is open to users in the United States only, except for residents of the five aforementioned states.

Average customer rating on G2.com: 3.8 out of 5

Best for: U.S.-focused crypto investors and traders

Pros:

  • Dollar-cost averaging /recurring buys available
  • Lower fees for active crypto investors

  • Platform supports investors of all levels offering advanced tools and beginner tutorials

Cons:

  • Not available in

    five states

  • Only USD is supported

4. Bittrex

Overview: Bittrex is a U.S.-based exchange founded in 2014 and headquartered in Seattle. It was developed by three cybersecurity engineers who placed a great emphasis on security, helping it grow among investors in search of a secure place for their crypto. Speed and stability keep users satisfied. 

Bittrex offers a suite of updated features, including an improved user experience, lower fees and a new referral program. Other benefits of trading crypto on Bittrex include: 

  •  Effective and reliable technologies

  •  Elastic, multistage wallet strategy (80% to 90% fund safety)

  •  Quick-loading trading interface with no hanging or lagging

  •  Automated trading features (stop loss, instant buy or sell)

Although Bittrex recently updated its exchange, it offers minimal customer support and has no option for margin trading. Additionally, user accounts can be suspended without prior notice. 

Services and features: Bittrex offers several convenient services to its cryptocurrency traders, including: 

  • Bittrex Credits promotions:

    Bittrex Credits are airdropped to recipients within 72 hours of a qualifying event.

  • Mobile app:

    Available on iOS and Android

  • Robust order types:

    Market orders, stop limit, ladder limit and limit 

  • Personalized trading:

    Several layout options and themes help make your trading experience unique.

Accepted currencies and payment methods: Identity-verified users within and outside of the U.S. are eligible for USD trading, withdrawals and deposits on Bittrex. Residents of Connecticut, Hawaii, New York and Vermont are not permitted to be customers.

Number of coins available for trade: Bittrex offers hundreds of coins for trade, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Tether (USDT).

Fees:

  • Bittrex claims it offers customers some of the lowest fees in the industry.

  • Maker fees vary between 0%-0.35%, and taker fees range from 0.05%-0.35%.

  • Fees decrease as you trade more.

Supported countries: Currently, Bittrex is available worldwide. However, over 40 countries, including North Korea, Iran, Syria, Crimea and Cuba, are excluded

Average customer rating on G2.com: 3.7 out of 5 

Best for: Crypto traders in search of a secure, robust platform offering a large number of currencies

Pros:

  • Fast, lightweight platform loads quickly 

  • 250 currencies available

  • $3 minimum trade 

Cons:

  • Growing list of excluded countries

  • Margin trading unavailable

    , although Bittrex says it’s working on a trading engine that will allow it

Daria Uhlig contributed to the reporting for this article.

Information is accurate as of March 14, 2022.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

  • PwC.
    “Making sense of bitcoin, cryptocurrency and blockchain.”
  • Euromoney Learning.
    “What is blockchain?”

About the Author

Kathy Evans

Kathy Evans

Kathy Evans is a personal finance freelance writer and entrepreneur with a technical writing and instructional systems design background. She holds an MS in technical writing and informational design and is currently a doctoral student in instructional technology at Towson University. Through work experience in the federal government as well as commercial and nonprofit industries, she has focused her freelance writing on finance, investing and economic content with a specialization in budget coaching.  

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