Coinbase is a secure and user-friendly platform for buying and selling crypto.
Opening a cryptocurrency exchange account is the best way to get started buying or selling cryptocurrencies if you have the ambition.
Crypto exchanges function similarly to online brokerage platforms, providing you with all of the necessary tools so that you can buy and sell digital currencies like Bitcoin, Ethereum, and Dogecoin.
When choosing a cryptocurrency exchange, it’s important to look at how much each one supports, what fees they charge per transaction, and which payment methods are accepted. In order to find the right crypto exchanges for you, we looked at these factors when selecting this list of the best cryptocurrency exchanges.
Best Crypto Exchanges of 2022
- Best Overall and Best for Beginners: Coinbase
- Best Mobile App: Crypto.com
- Best for Security: Gemini
- Best for Altcoins: BitMart
- Best for Low Fees and Best for Experienced Traders: Kraken
- Best for Bitcoin: Cash App
- Best Decentralized Exchange: Bisq
1 – Coinbase
Coinbase is our pick for the best crypto exchange overall- and for beginners. It offers low trading fees, a variety of cryptocurrencies to trade, and high security. In addition to being beginner-friendly, Coinbase also has an advanced platform–Coinbase Pro–that appeals to professional traders as well.
- There are a large number of cryptocurrencies and trading pairs.
- This platform is designed for both beginner-friendly and advanced traders.
- Highly liquid currency exchange service
- Poor customer service
- Coinbase.com wallet is custodial
Coinbase was founded in 2012 to make buying and selling Bitcoin easily. Today, Coinbase is a publicly-traded cryptocurrency exchange with a total market value of over $40 billion.
Coinbase is a crypto trading platform that supports 100+ countries and has an easy-to-use system for both novice users and advanced traders. With its large number of supported assets (150+) and user-friendly interface, it’s often the first go-to place for new investors. The platform looks like your average online banking app, which most people are already familiar with, making it simple to transition into investing in cryptos.
As a regulated financial company, Coinbase both insures the digital funds it holds on behalf of its users and stores U.S dollar balances in FDIC-insured bank accounts to prevent loss of user funds if there is a security breach.
Trading accounts can be funded with a wide range of payment methods, from wire transfers to ACH transactions.
Coinbase also offers two wallets: a custodial wallet for new cryptocurrency investors and a non-custodial wallet (Coinbase Wallet) for experienced users. With its custodial wallet, Coinbase holds the private keys and effectively stores funds on behalf of the user.
While Coinbase can be a good exchange for both new and experienced cryptocurrency traders, the trading fees are relatively high – ranging from 0% to 0.60% based on trade volume.
In addition, Coinbase’s user feedback is relatively poor. For instance, several Trustpilot users mention problems with customer support.5 Additionally, there are numerous stories of unexpected account closures that have tainted the exchange’s image
Despite these drawbacks, Coinbase is still worth considering because of its many positive features.