Digital Asset Exchanges are essential platforms for trading or investing in cryptocurrencies. These exchanges facilitate the purchase of crypto tokens, offering a platform for transactions between buyers and sellers.
Numerous crypto exchanges exist, with varying popularity and features. For instance, Coinbase is a well-known exchange that, in recent years, has seen significant revenue growth due to an increase in retail traders. It’s important to note that not all exchanges offer the same cryptocurrencies for trade. Many focus primarily on Bitcoin and fiat currency transactions, avoiding altcoins due to their lower values and price volatility.
There are two primary types of exchanges: fiat-to-crypto and crypto-to-crypto. Fiat-to-crypto exchanges, like Coinbase, allow users to buy cryptocurrencies with fiat currencies. On the other hand, crypto-to-crypto exchanges, such as Binance, only permit trading between different cryptocurrencies. To acquire a specific altcoin like Litecoin, one might first purchase Bitcoin on a fiat-to-crypto exchange and then trade Bitcoin for Litecoin on a crypto-to-crypto exchange.
Unlike traditional “currency” exchange services, the “crypto” exchanges do not handle the currencies directly. Whilst it’s true that they will store the tokens in their infrastructure, it’s almost always the case that they will actually just act as a “wallet” for you – meaning that when they find a buyer, they trigger the sending process without you having to do anything.
List of the best Crypto Exchanges in 2022
CoinBase
One of the most reputable bitcoin exchanges available, Coinbase is popular among fans of the ‘dollar cost averaging’ method, where users can automate bitcoin purchase every week or month. It is a no-fuss platform for just bitcoin buying and selling.
Binance
Binance is a popular Chinese cryptocurrency exchange, which is popular for its crypto to crypto exchange services. While the company is still fairly new on the market, it has managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, but also due to its low trading fees.
Blockfi
The old way of doing things doesn’t cut it anymore. With BlockFi, you can use cryptocurrency to earn interest at up to 8.6% APY, borrow cash, and buy or sell crypto. There are no hidden fees, no minimum balances, and no reason to wait.
Paxful
Paxful is changing the world of finance. In just five years, we’ve become one of the leading peer-to-peer bitcoin marketplaces used by millions around the world. And we’re just getting started.
BitBuy
Bitbuy makes it simple to buy, sell, and manage your cryptocurrency portfolio. Get started today with our easy-to-follow guide to opening an account.
BTCC
BTCC is one of the leading digital asset trading platforms in the world. Founded in June 2011 in Shanghai. BTCC raised USD 5 million in a Series A funding from the Lightspeed Venture Capital in 2013.Later in January 2018, BTCC set up a headquarter in Hong Kong, and open new offices in the United Kingdom and other countries. The move marked the internationalization of BTCC as we are committed to provide stable, transparent, and fair investment services to users across the globe by integrating Blockchain technology with Fintech.
Cex.io
CEX.io is one of the oldest Bitcoin exchanges around. It started out in 2013 in London as a Bitcoin exchange and cloud mining provider. At some point its mining pool, known as Ghash.io, was so big it held 42percent of the total network mining power.
