Our review shows you the top 10 crypto exchanges in 2022. Use our filters and find the best provider for your individual goals.
The best top ten exchange crypto is, without a doubt, the platform that best suits your needs.
Since every investor has different preferences, there is no all-encompassing exchange that provides the right offer for every crypto investor. So that you can form your picture and make your decision as easy as possible, we have based our crypto exchange comparison on objective and comprehensible criteria.
Therefore, you also can filter the above providers according to your taste.
You can view exchanges that accept a deposit via PayPal or, for example, all exchanges that have their app on offer. However, based on our initial rating, you can recognize our favorites.
Top 10 crypto exchanges 2022
However, keep in mind that every provider has advantages and disadvantages here. In the next few sections, we will show you what we particularly like about the respective providers and where we still see the potential for optimization.
Our many years of experience and personal assessment are in the foreground.
Coinbase was founded as a US company in 2012 and is one of the oldest, largest and most renowned world top 10 crypto exchanges in our comparison.
The platform impresses with a straightforward user interface, many deposit options, and a large number of tradable cryptocurrencies.
Kraken was founded in 2011 and is one of the oldest bitcoin and crypto exchanges. The US-based trading platform scores above all with its low-cost structure and a large number of tradable cryptocurrencies.
Due to their age and long history, Kraken can also refer to a high reputation. As an exchange, Kraken also offers a variety of tradable cryptocurrencies.
On the other hand, the deposit methods are only limited to bank transfers, so we can not recommend the platform for beginners.
From our perspective, eToro is one of the best providers in our top ten crypto exchanges in 2022. The platform convinces us of the overall concept, whereby it does well in all points, although it does not occupy the absolute top in any criteria.
First of all, we positively rate the large number of deposit options that the platform offers. If you want to buy crypto, you can use PayPal, credit card, instant transfer, or classic transfer to transfer capital to your account at eToro.
Furthermore, we welcome the possibility that eToro offers stocks, ETFs and precious metals in addition to cryptocurrencies. From our perspective, it is especially important that the crypto broker now also offers the possibility to buy real cryptocurrencies.
The overall package is rounded off by a clear and structured user interface, which makes use especially accessible for beginners.
From our perspective, there is criticism for the sometimes high spreads, which at Cardano (ADA) are, for example, 2.90%. From our perspective, the support could also react more quickly. However, investors who opt for Bitcoin (BTC) only pay 0.75% fees with eToro.
The company Trade Republic lands in fourth place in our comparison of the best crypto top 10 exchanges due to a multitude of positive aspects.
The FinTech founded in 2015 and headquartered in Berlin, has its banking license and now looks after more than 1 million customers.
In addition to the modern and user-friendly mobile app, we particularly see the low fees as a pro-argument.
With Trade Republic, you only pay $1 for each trade.
In addition, you can buy stocks or ETFs in addition to the four cryptocurrencies Bitcoin, Ethereum, Litecoin, and Bitcoin Cash within 3 clicks and less than 1 minute.
Bitpanda is an Austrian provider that scores above all with its modern and beginner-friendly user interface.
We also welcome the possibility that customers can set up a savings plan and diversify their own portfolio with precious metals.
We need to improve the cost structure and pricing policy above all. Customers on the platform still pay a high spread of 1.49%. We also consider deposit fees for credit cards to be negative.
justTrade is a young FinTech headquartered in Frankfurt am Main.
If you look at the crypto exchanges and brokers based in Germany, justTrade has the largest offer with 12 tradable cryptocurrencies.
The low fees of 0.30 percent per trade are particularly positive.
The private bank von der Heydt in Munich, takes over the custody of the physical crypto values.
However, as a customer, you should note that the purchased cryptocurrencies cannot be transferred to other wallets.
The company Scalable Capital comes in 7th in our top 10 cryptocurrency exchanges globally.
Above all, the modern user interface, the well-structured app and the option to purchase cryptocurrencies, stocks, ETFs and other financial products are positive.
The FinTech from Munich still ends up in last place, as you, as a customer, can currently only buy Bitcoin ETPs. This allows you to invest indirectly in the performance of Bitcoin, Ethereum and Co., but you do not acquire any direct cryptocurrencies.
Criteria in our world top 10 crypto exchange comparison
We have selected 6 criteria for evaluating the best crypto exchanges in 2021. The evaluation was carried out according to a traffic light system, with each provider receiving either a positive (green), neutral (yellow) or negative (red) evaluation for each criterion.
The individual criteria of our crypto exchange comparison are:
Trust and security
The first and most important criterion for our evaluation is the security and the reputation of the provider.
The assessment includes:
- The company’s history.
- Regulation in your country.
- Customer ratings.
- Our assessment based on our experience.
Even if the potential for returns in the crypto market has been significantly higher in the past than in the traditional financial market, investors should take a look at the fees. This includes both deposit and withdrawal costs and trading fees. We, therefore, rate the “fees” factor as an independent criterion.
Offer and Features
How many cryptocurrencies can be bought and saved? In the “Offer and selection” point, we evaluate precisely this factor. Even if a large offer is generally to be welcomed, we are of the opinion that a solid entry into the crypto market can be achieved with just a few cryptocurrencies, especially for beginners. In addition to the offer, we look at additional functions, such as credit cards or savings plans.
Which crypto exchange does Legithustlin recommend?
The choice of the best crypto exchange is always up to your personal decision and preference. Therefore, we at Legithustlin can only give you clues and speak from our experience.
We have divided our recommendations into three categories to make the decision easier for you.
Best Crypto exchange for beginners
Suppose you describe yourself as a newcomer to the crypto world. In that case, you should definitely choose a provider with an intuitive user interface, low in cost, and, above all, reputable.
Our recommendation falls on Coinbase.
Crypto exchange and share platform
If you want to choose from a wide range of cryptocurrencies and still leave the option open to buy stocks and ETFs, we recommend eToro.
eToro is a licensed provider that offers more than 20 cryptocurrencies and supports a wide range of different assets. Another advantage of the platform is the ability to buy crypto with a credit card or PayPal.
Biggest Crypto Exchanges
Our third and final recommendation is the world’s largest exchange: Binance. We especially recommend the platform to all those who do not shy away from a complex user interface and are interested in more than 200 cryptocurrencies.
Basic knowledge: Crypto exchange, broker, fees and setup
In addition to choosing the best cryptocurrency exchange, you should be familiar with the basics. Therefore, in this section, we will answer the following questions:
- What is the difference between a crypto broker and a Crypto exchange?
- What fees do you have to pay at an exchange and a broker?
- What are the respective advantages and disadvantages?
- How do you actually open an account with a crypto exchange?
- Can you change the crypto exchange?
Crypto exchange or Crypto broker?
You have to differentiate between the terms “Cryptocurrency exchange” and “broker”.
Crypto exchange as a trading venue
An exchange is a trading venue where buyers and sellers come together. As a user of the exchange, you never deal directly with the exchange’s operator, but much more with one of the thousands of users.
The job of the exchange is to bring the buy and sell sides together. You can find an overview of the current positions in the so-called order book.
The order book contains the desired buy or sell price and the size of the position for every user who trades on the exchange.
One advantage of the exchange over a broker is the lower fees. New cryptocurrencies usually appear faster on an exchange than with a broker. However, it is often more complex to use and users should be familiar with terms such as “market order” or “limit order”.
Broker as a trading partner
A broker is a provider who sells or buys cryptocurrencies for you at a price set by him. However, the price at a crypto broker is not arbitrary. The market price plus a mark-up serves as a reference. This surcharge is known as the spread.
One advantage of the broker is its easy handling and use as well as the fixed price.
Fee differences between broker and exchange
The fees with a crypto exchange are usually lower than with a crypto broker. Large exchanges have a high level of liquidity. As a user of an exchange, you also can define your “desired price”, for example, by setting a limit order.
A broker usually incurs higher fees than an exchange. However, the differences are in the low percentage range. Since cryptocurrencies are more volatile per se than stocks, you should not ignore the fees and not overestimate them.
While fees of 1-2% play an important role for an ETF, which increases on average 8-12% pa, this effect is rather small with cryptocurrencies.
Open an account with a crypto exchange
You can open an account with a crypto exchange in 4 steps.
Even if the exact registration process varies from provider to provider, there are basic guidelines that you have to observe.
In the first step, you choose a suitable crypto exchange or a suitable crypto broker that corresponds to your specifications and goals.
The registration process begins in the second step. You have to enter your personal data and go through an identification process to confirm your identity.
Know Your Customer (KYC)
According to the Money Laundering Act, all regulated providers are obliged to know the identity of their customers. Verification is standard with reputable providers.
After confirming your identity, you can deposit funds into your respective account. If you’ve never traded cryptocurrencies before, deposits are made in a fiat currency such as euros (EUR) or US dollars (USD).
Alternatively, you can transfer existing cryptocurrencies to your account in order to then trade with them. Finally, you can purchase cryptocurrencies with your paid-in capital.
Switching crypto exchange: are multiple providers possible?
If you come from the classic stock and financial market, you probably know the complexity of a securities account transfer. If you want to transfer your shares and ETFs to another provider, you need time and nerves.
In the crypto market, you as an investor have the option to open an account with a crypto exchange at any time as long as your new platform offers your cryptocurrencies, whether broker or exchange, you can transfer them without any problems.
Common questions about crypto exchanges
This section provides answers to the most important questions to identify a reputable and safe trading platform.
Which crypto exchange is the best?
The Kraken and Binance crypto exchanges offer the largest range of tradable cryptocurrencies. With stocks, ETFs, and precious metals, eToro has the largest total range of tradable assets. The simplest and most user-friendly apps have Bitpanda and eToro.
Which crypto exchange is suitable for beginners and beginners?
A crypto exchange such as eToro, Binance, or Kraken is recommended for beginners. As a beginner, you benefit from the simple storage and clear user interfaces.
How do I recognize a reputable and secure crypto exchange?
In order to find the best crypto exchange for your goals, you should pay attention to aspects such as the company headquarters, the company history, and possible regulation. Also, look out for independent review platforms like TrustPilot.