Best Crypto Trading Platforms in 2022: Top Options Reviewed
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If you want to get started in the world of crypto but don’t quite know where to begin, you’ll often find that one of the first choices you’ll have to make is the platform you’ll be trading on. Fortunately, from a little look at the market, you’ll see that there are several options available. But how do you choose the ideal one for your unique needs?
With a list of 2022’s best crypto trading platforms and a whole host of advice relating to each for your convenience, you’ll be able to make a better-educated decision before diving in. So, if you’re trying to find the best crypto exchange for buying and selling digital coins, read on!
Table of Contents
7 Best Crypto Trading Platforms
There are so many options out there, but to give you a helping hand, we’re going to look into just a few of the best ones, such as:
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
As one of the most popular exchanges around, it shouldn’t come as much of a surprise that eToro is one of our top picks for 2022.
Plenty of features have been packed into eToro to help it become one of the best trading platforms around; from its low fees on transactions, to the 45 different cryptocurrencies that the site supports. This exchange is also popular for hosting other forms of investments, with access to more than a hundred ETFs, 800+ stocks and much more. Alongside all this, eToro is also regulated by the FCA and features excellent security, ensuring that users will have little to nothing to worry about when putting their assets/finances into cryptocurrency trading.
Essentially, you’ll find that eToro is going to be a great choice if you want to use a good exchange that you know you can rely on. With more than 13 million active users on the platform, it’s not hard to see why eToro is a trusted and incredibly popular place for all your trading needs.
On eToro you can use your credit or debit card to trade cryptocurrency.
Capital is another extremely familiar name among crypto traders, thanks to its simplicity, range of tools and variety of supported cryptocurrencies, including Bitcoin and Ethereum. It’s also known for having more than 4,000 different digital assets in its repertoire (from stocks to CFDs), which many find appealing.
You’ll also find a plethora of great reviews and testimonials supporting this site – and not only is it highly rated among more experienced traders, but it has several industry awards given for high-end services. This is certainly an aspect that you won’t want to overlook when choosing a platform, as not all of the options out there can boast such accolades.
While it was originally launched as a crypto wallet back in 2012, Coinbase is one of the most popular exchanges right now – and if you decide to sign up, you’re going to see why. Today, this platform is famous for being one of the best places for beginners to get started with cryptocurrency trading.
As the acceptance of cryptocurrency has increased, so has the market for exchanges – and this is why the developers at Coinbase decided to extend their services. While not without its flaws (for example, higher fees and fewer options for those who don’t upgrade to Coinbase Pro), it’s still a good choice for a wide range of reasons and is well worth considering because of this.
Recognised in the crypto community for its advanced interface and trading features, Binance is typically a better option for those with more experience in crypto investments. While it wasn’t designed to be too complicated (or even unusable for beginners), it is worth considering that it was made to cater to those with a decent grasp of the niche and investing. This means that it may not offer the best start for complete newbies, and you may still need to familiarise yourself with the features and functions no matter your skill level, to safeguard your money and maximise your potential for success.
In general, there are quite a few things that draw traders’ attention to this particular exchange, like its customisable interface for example, or the fact that it’s known for its well-appointed security. It also offers a very versatile way to trade and low trading fees, which for many people, are two of the exchange’s biggest strong points.
Overall, many individuals will find that Webull is an excellent broker for anyone hoping to minimise their costs without having to sacrifice too much quality. While one of the newer exchanges on the market, Webull is aiming to attract traders that are hoping to get into the market without having to worry about common fees like commissions on trading, or deposit requirements.
You’ll find that this exchange allows its users to trade with multiple cryptocurrencies, as well as stocks and ETFs, so you’ll have quite a few options to choose from if you decide to sign up. While not the most comprehensive of platforms, you’ll find that the lack of fees is fantastic for the services provided, so it’s a great choice for many people who are hoping to get started in crypto trading.
Many people will find that Gemini is an all-around great platform, both for beginners and those with more experience in trading crypto. The interface is simple and there are plenty of educational resources for users to enjoy. Of course, this isn’t all that has helped Gemini to become one of the best crypto trading platforms in 2022.
From a closer look into Gemini, you’ll find that there are more than 20 crypto to crypto trading pairs, as well as 52 different cryptocurrencies, allowing for a variety of investment opportunities.
Another great option for both experienced and beginner crypto traders is Kraken – a trading platform that’s been around for quite some time now. Looking into some of the different features of this particular exchange, you’ll find that it has over 110 different supported cryptocurrencies, high liquidity and enough simplicity in its interface to allow anyone new to the broker to get around without any hiccups.
On Kraken, you can also enjoy margin accounts, futures trading and much more, which is certainly worth keeping in mind. You could choose to upgrade to Kraken Pro if you want to get more out of your experience, like lower fees, for example, but it’s not necessary if you would rather stick with the basic Kraken exchange.
Which one of these crypto trading platforms is best?
Many people consider eToro to be the best exchange on the market, but this can be a choice that comes down to personal preference for many traders. In any areas that eToro is lacking, other crypto exchanges may excel – and some of these could make or break your success moving forward.
Because of the many ways that crypto exchanges can differ from one another, it’s generally quite a tough task to pick one as the definitive best. For this reason, we think that our list of the top trading platforms of 2022 so far will help you to have a range of options that may potentially suit you, whether you’re looking for something cost-effective, a variety of different trading options, or a more advanced range of tools.
How do you pick the right one for you?
For the most part, the best thing you can do when looking for the right digital currencies trading platform is to consider what it is that will work for your unique needs. As mentioned above, there are so many factors that can vary from one cryptocurrency exchange to another, so understanding what you want to achieve is often an essential aspect of choosing the ideal platform.
While there are usually several different aspects that can rely more on personal preference, there are certainly some factors that can be worth looking out for regardless of what you want. Here are a few of the questions we think you should ask during your search:
What are the tools of the platform like and what features does it offer? How could they benefit your trading experience?
Trading volume data
Is the interface user-friendly and customisable? Is it easy enough to set your own trading parameters?
Which payment methods are supported? Can you make your deposits for free, or is there an extra fee attached?
How good is their customer service? Can you rely on their team to be on hand whenever you need them?
How secure is the platform and are they regulated by a reputable authority?
All of these factors are going to be worth considering regardless of what you want from your trading endeavours, so be sure to keep them in mind both when making your initial searches and when narrowing down your options.
How do you get started in cryptocurrency trading?
While every exchange will generally be different in its own way, most will be fairly similar in terms of getting started. Better yet, most will try to make the process as simple as possible to encourage more people to sign up, so you usually won’t have to worry about complex procedures. Here’s a quick look into how the process will go on most crypto brokerages:
Step 1: Create an account
On most exchanges, signing up will be free to do. Just visit the official website and fill out the registration form (which generally consists of fields like first and last name, phone number and email address). Of course, you’ll often have to choose a password, too. You’ll typically need to verify your account via email or text via a link.
Be aware that there may be other steps involved; for example, eToro generally asks for information to confirm your identity (like a picture of your passport), which is something that you may want to be prepared for on most reputable platforms.
Step 2: Deposit funds
Once you’ve got your account set up and ready to go, the next step is often depositing on the site. Most exchanges have a minimum deposit amount, so it’s worth looking into how much you’ll need to put into your account beforehand (some may require less than others, which could suit those with lower budgets). It can also be worth considering what payment methods they accept, although you’ll find that many exchanges will support the most popular options, from PayPal to bank transfer.
Step 3: Start trading
Usually, you can get started with trading from here. While there are quite a few exchanges that provide demo trading features, this isn’t a necessity. If it is available though, it can be worth looking into, as it could be a great way to familiarise yourself with the platform and test out trading before putting your money on the line. Either way, you can generally get started in any way you wish once you’ve got an account and some money to invest.
While the process may not be the same on every platform, you can generally expect to find something similar on most popular exchanges
From Binance, to eToro; there are simply so many good options to choose from in the crypto market. With a quick look into some of the top cryptocurrency exchanges that 2022 has to offer so far, as well as the other pieces of advice and the FAQs provided, we hope that you have a better understanding of which platform to choose. Remember that trading cryptocurrencies can be risky especially for beginner traders as they are highly volatile assets
If you plan on buying and holding your digital coins, it’s generally worth getting yourself a crypto wallet. While there are many cryptocurrency exchanges out there with built-in wallets, these aren’t usually as secure as cold wallets (which are often similar in appearance to USB sticks) and therefore aren’t typically the best idea for anyone planning on buying larger amounts of crypto and holding for a longer period of time. On the other hand, smaller amounts that you’ll be trading often are generally just fine in exchange wallets, as long as you withdraw your earnings regularly and frequently check up on your account.
How much should I invest in crypto?
The amount that you should be investing will depend on your unique needs. Those who have a larger amount of cash to spare may find that they’re in a position to invest more. Ideally, it’s always best to start with a smaller amount and work your way up as you gain more confidence, and you should be wary to never invest more than you can afford to lose. If you keep these points in mind, you’ll probably be investing the right amount for your financial situation.
Is cryptocurrency a worthwhile investment?
Anyone can start investing in crypto, but while it is well known for being a unique and rather risky trading crypto assets, there’s no doubt that it has the potential to be a rewarding investment opportunity. It’s unlike many of the conventional types of investments – and this comes with its own set of advantages and downsides.
It’s all about weighing up the pros and cons and considering if you believe that the potential benefits that come with trading these digital coins are worthwhile. For many people, it has been a profitable investment so far, but not everyone manages to become rich from cryptocurrency, so it’s important to be aware of the risks.
How do you trade crypto as a beginner?
For the most part, anyone who’s new to the world of cryptocurrency will find that there are usually quite a few things that are worth doing to get off to a good start. In general, the more you know, the more chances you’ll have of making the right moves, which is worth keeping in mind if you want to maximise your chances of earning a profit on your investments.
We would suggest that you take the time to ensure that you’ve got everything ready before risking your finances. From having a wallet, to an understanding of how the market works and which cryptocurrency exchanges will be the most beneficial to you; there are usually going to be significant plans that you can make to give you a good start in your investments.
Can you make a living off day trading crypto?
There’s no doubt that you can make money with cryptocurrency, but not everyone is able to make a living off of crypto alone. Many individuals have seen large or consistent successes investing in these digital coins, but the same can’t be said for everybody. It won’t be worth quitting your job or stumping up your entire life savings, and you should keep this in mind before jumping head first into investing. The best thing you can do is take the time to learn more about what cryptocurrency has to offer.
Consider different trading strategies, how certain currencies may rise or fall in value and other factors that may help you to make the right investment moves. If you do, you’ll generally have a much better chance of being able to make a living from day trading at some point.