Which Are The Best Cryptocurrency Exchanges in October 2022?

With the rising penetration of the internet across the world and the launch of the latest internet technology such as 4G and 5G, people are increasingly attracted to virtual currency as a medium of exchange and an instrument of investment. Cryptocurrency is the most popular digital currency that has swept the world in recent years after the launch of Bitcoin in 2009. 

To provide users with easy access to these digital assets and offer easy investment options, many crypto exchanges have emerged in recent years, making it even more complicated for users to choose the best one. As such to assist crypto users to choose the best cryptocurrency exchange we have compiled a list of the best cryptocurrency exchanges 2022. Read on to know which is the best cryptocurrency exchange for you.

What is a Cryptocurrency Exchange?

A cryptocurrency exchange is a platform that allows users to sell, buy and trade crypto assets such as BTC, BNB, and ETH safely and conveniently. Users are provided with a crypto wallet by the exchange where they can deposit their fiat currency and store their cryptocurrencies in the form of tokens and coins. The exchange also allows the exchange of one cryptocurrency for another. Users can also convert their crypto assets into fiat currencies such as the U.S. Dollar, which can be withdrawn to a regular bank account.

Best Cryptocurrency Exchanges 2022

Here is the list of the best crypto exchanges:

Crypto.com 

Launched in 2016, Crypto.com is one of the leading mobile crypto exchanges in the world. Available in over 90 countries worldwide, Crypto.com is available for Android, and iOS-based mobile phones. You can trade and invest in more than 250 cryptocurrencies using Crypto.com on the go with your smartphone. Based on its own blockchain, Crypto.org Chain it has a native token CRO. The transaction fee is relatively high on Crypto.com, compared to close competitors. 

Gemini 

Known for its unbreakable security, Gemini is a New York-based crypto exchange that provides hot wallet insurance to its users against any security breach. The SOC 2-certified exchange was launched in 2014 by Tyler and Cameron Winklevoss. Its robust identity verification process also works as an additional level of security to protect users from fraud. Available in all 50 states of the U.S. Gemini supports 75+ currencies, which is fewer as compared to its rivals.

Coinbase

With over 5,000 employees worldwide, Coinbase is a popular cryptocurrency exchange that facilitates its users the ability to buy, sell and exchange over 100 tradable cryptocurrencies. Launched in 2012 by Brian Armstrong, a former Airbnb engineer, Coinbase has operations in 100+ countries with a trading volume of $309 billion per quarter. With over 98 million users, the exchange facilitates access to the crypto ecosystem to more than 13,000 financial institutions globally. 

BitMart Exchange 

Available in over 180 countries, BitMark is one of the best cryptocurrency exchanges 2022 for altcoin users that support over 1,000 cryptocurrencies. Founded in 2017 in the Cayman Islands, BitMart is a well-known name in small and mid-cap cryptocurrencies. The exchange was subject to a large-scale hack in December 2021, in which digital assets worth $196 million of users were stolen, which may be seen as its downside. 

Kraken 

Best known for low transaction charges, Kraken is the top pick for experienced traders with its advanced order types such as margin and futures trading. Established in 2011, the San Francisco-based exchange supports over 120 cryptocurrencies. The reputed professional trading exchange offers two platforms Kraken and Kraken Pro. Kraken is for general traders and investors, while Kraken Pro is meant for professional investors thanks to its advanced trading features, customizable chart analysis tools, and detailed insights. 

Coinswitchkuber

Launched in 2017 by Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni, Coinswitchkuber is one of the popular India-based crypto exchanges. With over 18 million users, it supports 100+ cryptocurrencies including BTC, ETH, BNB, USDT, etc. According to the Coinswitchkuber review 2022, it is one of the top-rated crypto exchanges in India due to its exclusive and advanced features and is specially designed for the local audience that supports INR. Low Coinswitchkuber withdrawal fees and its easy registration and KYC verification process make it a preferred investment venue for new users.

Cash App 

Cash App is a mobile-based peer-to-peer payment platform that allows users to send, receive and store cryptocurrencies in the United States and the United Kingdom. Along with crypto, the Cash App also allows investment in stocks and ETFs. As a custodial wallet, it is best for Bitcoin users as it allows the users to withdraw their Bitcoin to third-party wallets. The company has also announced plans to roll out support for the Bitcoin Lightning Network that will facilitate fast Bitcoin transfer at the lowest cost. Its downside is that it supports only Bitcoin. 

Summary 

Pick one of the best cryptocurrency exchanges from the above list of the best cryptocurrency exchanges 2022, that suit your investment objective and goal. While Gemini is known for powerful security features, Cypto.com is best for those who prefer mobile phones over desktops for crypto investment and trading. Binance and Kraken are the best in terms of transaction fees and a wide variety of cryptocurrencies. To learn more about the Coinswitch Kuber ranking and its pros and cons you may explore Cryptoknowmics.