Dec 25
,
By
Modh
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The proliferation of cryptocurrencies in the financial world keeps getting the attention of crypto investors, who are always on the lookout for the best crypto assets to invest in. Interestingly, even those who have never traded crypto before are now interested in trading now. As a result, many have had to ponder how to start a cryptocurrency exchange and profit from it.

However, Cryptocurrency investment is not just about making high returns on capital. You need to be sure that you are using the best cryptocurrency exchange app that provides adequate security, transparency, and privacy for your investments on the platform.

Have you been having difficulty over the platforms to buy cryptocurrency from? Are you looking for the best cryptocurrency exchange app to trade? Well, you do not need to bother searching for that anymore. In this article, you will get to know the 7 best cryptocurrency exchange platforms based on user-friendliness, transaction costs, number of cryptocurrencies available on the platform, and uniqueness, amongst other features.

Ready to learn? Dive in.

What is Cryptocurrency Exchange?

Cryptocurrency exchange trading, as defined by IG, refers to the "act of speculating on cryptocurrency price movements via a CFD trading account, or buying and selling the underlying coins via an exchange." Cryptocurrency exchange platforms allow users to buy and sell cryptocurrencies in exchange for other virtual currencies or fiat money.

Top Cryptocurrency Exchange Platforms in the World

1. Coinbase
This is regarded as one of the best cryptocurrency exchange apps in the world. Coinbase allows users to use the United States dollars to invest directly in cryptocurrencies. Coins such as Bitcoin, Ethereum, Litecoin, and many other altcoins are available on the platform. Also, Bitcoin traders commonly use it.

The company was established in 2012 by Brian Armstrong and Fred Ehrsam. Aside from having access to several cryptocurrencies, Coinbase is a cryptocurrency exchange platform that is highly safe for use and trustworthy. Hence, you can be rest assured that your investments there are safe even if you #hodl the coins for a long time. The Coinbase app has a rating of 4.7 out of 5 on Appstore and a rating of 4.3 out of 5 on Playstore.

Pros

  • The user interface of the app is superb and easy to navigate.
  • The app is quite easy to use for new users, and new users can easily trade without the help of anyone.
  • It has trading tools for institutional investors.
  • Coin base pro account
  • There are rewards for earning on the cryptocurrency exchange app.
  • Available both on apple store and play store.
  • Users are paid in crypto assets for watching videos on cryptocurrency on the platform.

Cons

  • Users do not have control over their wallet keys.
  • Transaction fees are high.
  • Customer service is not good enough.

2. Gemini
Gemini cryptocurrency exchange platform was founded by Tyler and Cameron Winklevoss in 2014. According to Crunchbase, Gemini was founded with the aim of building "a bridge to the future of money." The cryptocurrency exchange platform has raised about $400 million since its establishment. The Gemini app has a 4.8 out of 5 rating on Appstore and a rating of 4.5 out of 5 on Playstore.

Gemini is highly rated for being a highly secure crypto exchange platform, and this is why it is commonly used amongst investors who are conscious of the safety of their investments. The cryptocurrency exchange fees for the Gemini cryptocurrency exchange platform ranges from 0.5% - 3.99% based on the mode of payment and platform used to pay.

Pros

  • Good crypto exchange app for newbies.
  • It is convenient to use.
  • The app's user interface makes it easy to use.
  • Users have access to over 50 cryptocurrencies.
  • It is available on both iOS and Android.

Cons

  • Not all tokens are available on the app.
  • It is costly to use for small traders.
  • The trading fees are quite costly compared to other cryptocurrency exchange fees of other platforms.

3. Bisq
Amongst the list of cryptocurrency exchange platforms, Bisq comes top as the go-to platform for those who want to invest in a decentralised crypto exchange platform. This crypto exchange company was established by Manfred Karrer, an Austrian, in 2014. The Gemini app has a 4.8 out of 5 rating on Appstore and a rating of 4.5 out of 5 on Playstore.

The goal of Bisq is to take out the role of a central authority, that is, a third party, anytime a peer-to-peer transaction takes place on the Bisq cryptocurrency exchange app. Hence, if you are looking for the best peer-to-peer (P2P) crypto exchange app that allows for anonymity of the transaction, transparency, and no third party, Bisq should be your go-to- platform.

Pros

  • The platform is easy to use.
  • It is a decent ralised crypto platform; hence, users' funds are not managed by Bisq.
  • Bisq operates on a peer-to-peer network; hence, it has no central authority.
  • The app is secure as it possesses several servers located across the world.
  • Possesses numerous payment options for users. 

Cons

  • The platform is too basic for persons who are experienced in crypto trading.
  • High trading fees.

 4. Kraken
Kraken
is a cryptocurrency exchange platform founded by Jesse Powell in 2011. According to Coindesk, Kraken is a cryptocurrency exchange platform that allows both "crypto-to-crypto and fiat-to-crypto trades." Kraken app has a rating of 4.7 out of 5 on Appstore and a rating of 4.4 out of 5 on Playstore.

Business Insider ranks Kraken as the best cryptocurrency exchange platform for trading futures and margins in January 2022.

Pros

  • It has advanced crypto trading tools suitable for experienced investors.
  • Users have access to a lot of digital assets
  • Low Trading fees
  • Users are allowed to trade futures and margins.

Cons

  • Traders do not have a lot of options to fund their wallets.
  • Kraken is not available for use in all states in the United States.

5. Binance
Are you looking for the best cryptocurrency exchange platform for Bitcoin and altcoins? Then it would be best if you considered using Binance. Binance is regarded as one of the largest cryptocurrency exchange platforms in the world that allows traders to have access to the exchange of Bitcoin and altcoins. However, the Binance app has a 4.7

The company was founded in 2017 by Changpeng Zhao, and it was incorporated in the Cayman Islands. This cryptocurrency platform is used in about 180 countries.

Pros

  • Users have the option to trade a lotof cryptocurrencies.
  • It is suitable for instant online payment.
  • Low trading fees.

Cons

  • The minimum amount needed to trade is $10.
  • The website is not user-friendly.

6. Abra

If you are looking for the best platform to trade at low fees, you should consider using Abra. Abra is the brainchild of Bill Barhydt, who formerly worked as a software engineer at the global investment bank, Goldman Sachs. The Abra app has a 4.6 out of 5 rating on Appstore and a rating of 4.3 out of 5 on the Playstore.

The cryptocurrency exchange platform was founded by Barhydt in 2014, and it has gone on to raise about $106.6 million, according to Crunchbase.

Pros

  • It can be downloaded on both iOS and Android.
  • Fees are not charged for trading.
  • Wallet storage is allowed on the platform.
  • Investors are completely in controlof their crypto assets.
  • Users are offered the opportunity to borrow at low-interest rates, which might be as low as 0%.

Cons

  • Charges of over 3.5% are placed on Visa and MasterCard transactions.

7. Crypto.com

Crypto.com is a Hongkong based cryptocurrency exchange platform founded in 2016 by Bobby Bao, Gary Or, Kris Marszalek, Rafael Melo. Crunchbase describes it as a "payment and cryptocurrency platform that empowers users to buy, sell, and pay with crypto." The app has recorded over 10 million downloads on Playstore since its launch. Users of this platform have access to a large number of cryptocurrencies.

Pros

  • It offers multiple cryptocurrencies to users
  • Users are offered interest every week on crypto savings
  • Users are allowed to link their debit cards to their accounts

Cons

  • The customer support feature is not good enough
  • The platform is only available on apps; hence, it has no desktop version.

Conclusion

In closing, the cryptocurrency market is a highly volatile one. Therefore, you need to always consider the high risks attached to investing in crypto assets. Likewise, you need to also take into consideration the app you will use to execute your crypto investment plans. Using a top cryptocurrency trading platform will help reduce the transaction cost you need to pay to facilitate a one, get good offers for trading crypto-assets and get security for your investment.

We hope you have learned more about the best cryptocurrency exchange apps you should use or switch to for cryptocurrency exchange purposes.

Did you find this article helpful? Well, you should consider sharing it with a friend or relative of yours. You never can tell which one of them will find this helpful too.

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