Cryptocurrency advertisements have unexpectedly inundated television programming. It seems that your friends, family, and loved ones are becoming wealthy due to cryptocurrencies. When you open the newspaper, you notice that the price of Bitcoin has surpassed yet another milestone. This article is about the best five cryptocurrency exchanges for 2022.
What Exactly Are Cryptocurrency Exchanges?
Cryptocurrency exchanges bring buyers and sellers of digital assets together to form a market. Most businesses employ order books, which allow investors to place crypto buy and sell orders at any time. Cryptocurrency exchanges control your digital assets because you can’t manage your private keys from these centralized platforms.
You might also utilize a crypto brokerage similar to a cryptocurrency exchange but varies somewhat. In technical terms, Robinhood is a cryptocurrency broker, while Coinbase Pro is a cryptocurrency exchange. The price of crypto assets is established by crypto brokerages based on the asset’s market price. In contrast, the cost of crypto on exchanges is directly controlled by investors’ buy and sell orders.
CoinDCX
This Mumbai-based start-up has become one of India’s most popular cryptocurrency exchanges, with over 3.5 million (35 lakh) investors. The Exchange’s main benefits include a low trading charge and free deposits and withdrawals, particularly advantageous for people who wish to trade directly between the Indian rupee and a particular cryptocurrency. Investors may choose from more than 200 coins on the Exchange.
Binance
Binance, founded in 2017 and now has over 13.5 million active users globally, enables you to buy, sell, and trade bitcoin for a minimal cost. You may also earn interest on your cryptocurrencies by staking them for a certain length of time at a rate ranging from 0.5-10%.
Binance now supports over 400 different cryptocurrencies, with new ones being added practically weekly. Indeed, Binance has grown in popularity as a cryptocurrency exchange to the point where the mere announcement of new currencies being listed may cause the values of those tokens to surge.
Coinbase/Coinbase Pro
Coinbase was founded in the United States in 2012 and is one of the world’s foremost cryptocurrency exchanges. The service is accessible in over 100 countries and has a global user base of over 73 million people. Bitcoin may be purchased and sold using bank accounts, credit cards, and debit cards. You may also trade USD Coin, a stablecoin created by Coinbase, on the site.
According to the Better Business Bureau, customers say the prices are comparable to other exchanges, but the customer support at Coinbase Pro is lacking.
KuCoin
KuCoin has received ardent followers because of its emphasis on security and straightforward design. Known for its user-friendly design and high level of security, KuCoin is a relatively young cryptocurrency exchange. The Exchange is well-known for having many different cryptocurrency pairings, allowing customers to buy a broad range of cryptocurrencies.
The Exchange is also rapidly expanding into other areas. Their adoption rate for various nations has risen in only one year. For example, there was a 171% rise in Latin America, a 130% increase in Africa, and a 67.5% increase in Asia.
SwissBorg
SwissBorg was founded in December 2017 and is situated in Switzerland, where they are entirely compliant with Swiss law, making them a tremendously popular cryptocurrency trading platform in Europe. Over 100 nations have access to the Exchange (although currently not supported in the US). Please remember that the full range of SwissBorg functions may not be accessible in all countries.
SwissBorg supports over 30 cryptocurrencies and 16 fiat currencies. Users may vote for the next crypto asset to be added to their app, and new cryptocurrencies are constantly being added. Users may fund their SwissBorg accounts immediately through bank transfers, and there are no costs associated with bank transfers.
The Takeaway
Cryptocurrency exchanges work similarly to stock exchanges. Market and limit orders may be used to buy and sell securities. On a sale, investors may put a limit order or a sell order to provide liquidity for other participants on the site. A user can definitely find some inspiration through this article and find one crypto exchange through these best five crypto exchanges and crypto investors.
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