5 Best Bitcoin & Crypto Exchanges for Safe, Fast, Successful Investing [2022 Update]

Top 5 Best Bitcoin Crypto Exchanges of 2022 (Full Reviews)

Crypto.com – Overall Best Crypto Exchange Platform
eToro – Best for Social Features and Community
BlockFi – Most Popular & Best Option for Borrowing
Coinmama – Most Secured Services
Coinbase – Best for Beginners

#1. Crypto.com – Overall Best Crypto Exchange Platform

Overview

Crypto.com has maintained its position as the best Bitcoin exchange since 2016, and it has been at the forefront of making Bitcoin trading accessible to everyone. Today, it has over 10 million active users, which shows how much the public trusts the company. With Crypto.com, users can buy, sell, and exchange more than 50 cryptocurrencies. Also, they can trade 200 cryptocurrency pairs, and users can collect automatic interests and cashback for their investments.

Crypto.com is a partner with Visa, Booking.com, and Aston Martin. As a result, the company can offer users a wide range of products. More than industry recognition, Crypto.com has state-of-the-art security measures in place, and it enables users to buy, sell, or store NFTs.

Furthermore, it was one of the first companies to win the ISO security certification. In an open digital world, security is the first line of defense, and unlike its competitors, hackers could not break into Crypto.com despite their attempts. The company also has 360-million-dollar insurance deals to defend its users in case of a breach.

All of these factors and more make users trust Crypto.com with their hard-earned money. Crypto.com is our first choice, and we wholly recommend it.

Highlights

Cashback Visa Card: Users can get a rewards debit card from Visa through Crypto.com. Furthermore, the card lets users spend their crypto earnings and get up to 8% cashback. The card is available on five levels depending on how much CRO a user holds. Other rewards include discounts on services like Netflix, Spotify, and Airbnb.

Tax Service: Crypto.com has a free tax service, which helps users stay on top of their crypto taxes, and it can integrate with other Bitcoin exchanges and wallets. Additionally, North American users can rest easy knowing their investments align with their jurisdiction regulations. So, they do not have to worry about changing new laws.

Security: When it comes to cryptocurrency storage, Crypto.com uses cold storage. The company stores them offline, making it impossible for hackers to access them. It also deposits fiat currencies in high-security banks under strict protection and insurance, and the app offers multi-factor authorization and biometrics.

Mobile App: Crypto.com is a mobile app at its core. Furthermore, it is the best crypto app available today, as it offers convenient features and functionalities for users to trade from their mobile devices. The app also lets users manage their wallets, put trade orders, and monitor the Visa card from one place.

Crypto.com Pay: Business owners use Crypto.com for crypto payments from customers. It is safe, secure, and faster than most options. Furthermore, it is free to set up, and the system can process crypto and fiat currencies. It is easy to add the payment gateway to WooCommerce, OpenCart, Ecwid, and other platforms.

Pros

Reasonable transaction fees
Powerful security features
Well-rounded financial and cryptocurrency services
Interests, rewards, and discounts
Staking CRO benefits
Free educational resources
Prizes for active traders
Up to $2,000 for referring friends

Cons

⇒ Click Here to Visit the Official Website of Crypto.com

#2. eToro – Best for Social Features and Community

Overview

In 2018, the company added crypto trading features. eToro is a long-standing platform that started as a brokerage for stock and forex trading. As a result, it grew in popularity and attracted more Bitcoin traders and investors.

It is available anywhere around the world where Bitcoin is legal, and international users have found it a safe platform to trade Bitcoin. The company follows international and local laws, which means more security to traders. It has more than 140 offices around Canada, Australia, and Europe, but it is U.K.-based.

Although it is a forex platform in its origins, it is still a powerful Bitcoin brokerage. This is because the company adapted its interface to include cryptocurrency trading. Furthermore, eToro has close to 23 million trusting users.

New users can start a crypto wallet with as low as $50, and the transaction fees are also quite reasonable. It takes little time and investment to trade cryptocurrency on eToro, and users can also exchange other cryptocurrencies, like the Shiba Inu coin.

What makes eToro different from most is the social network aspect, which makes trading friendlier and more accessible to the average user. For example, users can connect with others and copy their strategies. As a result, they can cut the learning curve and succeed faster. Furthermore, users can learn from past mistakes and avoid them in the future. In other words, new Bitcoin traders can piggyback off of successful investors.

Another factor that makes eToro outstanding is the direct connectivity to the blockchain. Users can complete their trade orders and transactions on the blockchain straightway. As a result, fees are minimal, and trading is more secure.

Highlights

Copy Trading: Beginner Bitcoin traders love eToro for the CopyTrader feature. This option makes eToro a social network for Bitcoin traders and investors. Users can post valuable insights, connect with others, and copy successful portfolios. Furthermore, they can multiply their investment without prior experience.

Copy Portfolios: This is another helpful feature that makes eToro a favorite Bitcoin exchange, and users interested in investing in cryptocurrencies can try it. Artificial intelligence and machine learning algorithms create customized portfolios, so users can start investing and earning at full tilt without experience or stress.

Demo Account: eToro users can get $100K in virtual money, so they can build their portfolio and test strategies before fully committing. The demo account lets users experiment in real-time market conditions risk-free.

Low Prices: This exchange makes it easy for the average user to invest in Bitcoin. It does that by bringing together several cryptocurrency exchanges under one roof. Thus, users can get the best rates for buying, selling, and exchanging Bitcoin, and it also means lower fees and more trading options.

Global Marketplace: eToro has users in more than 140 countries worldwide, and the company is expanding and introducing new products to its users. It is also available in 19 languages, making it a good choice for international users.

Pros

A pioneer in social investing
Low transaction fees
On-platform wallet
Learn from experienced traders
Powerful security technologies

Cons

⇒ Click Here to Visit the Official Website of eToro

#3. BlockFi – Most Popular & Best Option for Borrowing

Overview

BlockFi received the support of Wall Street giants like Tiger Global Management, and from the beginning, the company was heading towards success. Through innovative products, BlockFi carved its place in the industry, and it is a company with a mission that users can get behind.

According to Bloomberg, the BlockFi company is valued at around $4 billion, and overall, the company is the nexus between users and an extensive network of crypto brokers. With a $100 million liquidity, users can get the best Bitcoin trades in the industry. Furthermore, 50,000 users trust BlockFi to manage $10.3 billion in assets.

The BlockFi team is 300 strong of the best Bitcoin experts, and since 2017, the company has been growing fast. A champion of financial inclusion, BlockFi supports small and big Bitcoin investors. The company opened its doors to trading, lending, and asset management services.

Gemini, another trusted Bitcoin exchange, is the custodian of BlockFi. Think of it as a smaller bank working with a larger bank to secure client assets. It adds more credibility to BlockFi to be part of an NYDFS-regulated Bitcoin exchange.

Furthermore, BlockFi prioritizes crypto education for users, as the website and YouTube channel contain a wealth of information. New users can take their time to learn about Bitcoin investing with BlockFi, and as a result, they can become savvier and learn to better invest and profit in the Bitcoin game.

According to co-founder Flori Marquez, BlockFi’s ultimate mission is more financial access, as they offer tons of free information to help users learn about the market. Furthermore, the company is also transparent about the rewards and risks of Bitcoin. BlockFi is spearheading the crypto industry towards transparency, accessibility, and female empowerment.

Highlights

BlockFi Visa Credit Card: It can give users up to 3.5% cashback in Bitcoin after three months, and it also provides 1.5% cashback for all purchases. Also, this credit card will not affect your credit score, and new users can get pre-approved with low requirements. Moreover, aggressive Bitcoin investors can adapt to the Bitcoin lifestyle much faster, and they can use Bitcoin to meet their everyday needs.

Autopilot Bitcoin Profits: The BlockFi Interest Account is the best highlight, and with it, users accumulate interest in their investments without any effort. The compound interest rate can climb up to 9.5%. Plus, BlockFi now takes care of filing for crypto taxes. So, users can relax and enjoy the yield on autopilot. It is a worthy saving strategy if you ask us.

U.S.-based: Being a 100% American Bitcoin exchange, BlockFi is available nationwide. It complies with U.S. crypto regulations, so users can feel more protected and secure in their investments. It is also the most user-friendly Bitcoin exchange in the U.S. and Canada.

Lucrative Referral Program: As users refer their friends, they both get a $10 to $50 reward.

Pros

User-friendly mobile app
One free withdrawal per month
Compounding daily interest
Built-in wallet
IRS reporting
Crypto-backed fiat currency lending without a credit check

Cons

⇒ Click Here to Visit the Official Website of BlockFi

#4. Coinmama – Most Secured Services

Overview

Coinmama is a bare essentials Bitcoin exchange, as it stripped down the bells and whistles in favor of a more enjoyable experience. Users can walk through the ranking system by increasing their investment. The larger a user’s trading volume, the lower the transaction fees, which is why Coinmama provides a frictionless Bitcoin trading experience.

Furthermore, Coinmama is a first-rate cryptocurrency brokerage company, and users can deal without a mediator. In other words, Coinmama does not connect users to brokers. Instead, it becomes the buyer and seller, which is why the fees are high at the beginning. Users have to transfer Bitcoin to their personal wallets, as Coinmama does not have a wallet system.

Users can buy Bitcoin from Coinmama with their credit card, which makes the process straightforward for beginners. Coinmama also made a deal with Apple to add Apple Pay as a payment method. For users looking for a fast Bitcoin exchange, this is the quickest method to buy Bitcoin.

Coinmama’s safety lies in not storing Bitcoin on the platform. As a result, hackers will not find any assets to steal in the first place. Users can use their own methods to secure their wallets, giving them the freedom of choice. Furthermore, Coinmama verifies every new user and secures the information, which helps reduce the risk of identity theft.

Coinmama is a Dublin-based company that belongs to Cmama Ltd, and it also belongs to New Bit Ventures Ltd. Cmama is a FinCEN-verified company, so users can be sure they are safe from money laundering, terrorist financing, and other criminal activities.

Highlights

Loyalty Levels: Coinmama is the best training ground for new Bitcoin investors. Through the loyalty programs, users can go through an authentic trading experience. As they accumulate more Bitcoin, they get to learn the ins and outs of building a winning portfolio. As they progress, the fees decrease by up to 25%.

Happiness Heroes: Coinmama pays special attention to its customer service department, and it is one of the best in the crypto space. New users can always get detailed, timely answers to their most pressing questions. They can also get prompt help with starting an account, orders, and verification.

Coinmama VIP: This is a business program by Coinmama for enthusiast investors, and the white-glove service is a godsend for high-volume traders. Users can exchange up to 100 million dollars via bank wires, and a team of professionals takes care of the process. They help users buy in bulk by following strict security procedures to remove risks.

Several Payment Options: Coinmama offers many payment methods, making it easy for a beginner Bitcoin trader to exchange Bitcoin via credit card, bank, or Apple Pay.

Crypto Calculators: Free calculators are available on Coinmama’s website to calculate prices. The crypto calculator feature provides live exchange rates for Bitcoin and other cryptocurrencies, so users can find fiat-to-crypto and crypto-to-fiat exchange rates with the click of a button. Furthermore, they can choose between bundles and buy at once.

Pros

Cons

⇒ Click Here to Visit the Official Website of Coinmama

#5. Coinbase – Best for Beginners

Overview

Coinbase is one of the oldest and most established Bitcoin exchanges in the crypto game, and it has been expanding non-stop since 2012. It has more than 73 million happy traders in over 100 countries. These users exchange approximately $100 billion every year on the decentralized platform.

Currently, Coinbase has more than 2,700 employees, and the platform manages around $255 billion in assets. Coinbase is not your average Bitcoin exchange. Why? Because it has deep roots in the industry with international backing.

Coinbase offers users two trading platforms and a distinguished cryptocurrency wallet product. In short, users can customize this Bitcoin exchange regardless of their experience level. Both beginner heavy investors and old-time traders will find what they need.

Users can buy, sell, and exchange Bitcoin, and they can also trade more than 100 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin.

Coinbase is one of the rare Bitcoin exchanges that offers insurance. Think of it as a highly guarded Bitcoin exchange, similar to a maximum-security bank. If a hacker steals a user’s assets, Coinbase can reverse the loss to some extent. It is no wonder users and investors choose Coinbase in scores.

It is not difficult to imagine why Coinbase has become a top-ranked Bitcoin exchange, as it was the first Bitcoin exchange to join the U.S. stock market at a higher stock price than Facebook. Furthermore, it is investing in other cryptocurrency companies by offering a cryptocurrency fund.

Highlights

Learn and Earn: Coinbase has many free cryptocurrency courses available to the public. Users can join these free programs and earn cryptocurrencies by completing them. Not only can users learn all about cryptocurrencies, but they can also make money while doing it.

Borrow: Coinbase offers its lending program as well, where users can borrow fiat currency with their Bitcoin as collateral. Furthermore, they can borrow up to 40% of their Bitcoin assets, up to $1 million in total. The interest rate on such a loan is 8%, and there is no credit check needed.

Build Crypto Infrastructure: Developers can use Coinbase API to build Bitcoin applications, which enables them to examine the market, spot opportunities, and create trading strategies. Using Coinbase Pro features, developers get access to a wealth of data.

Secure Wallet: Coinbase offers a sophisticated wallet for storing Bitcoin and NFTs. Whether on mobile devices or web browsers, it is compatible with more than 500 tokens. Users can also trade their NFTs in one place, which is much better and faster than having crypto assets scattered over several platforms.

Convenience: Coinbase is still easy to use, despite all of the bells and whistles. The website and mobile app are intuitive to learn, so you do not need additional training to use the features on offer. Furthermore, users can start trading from day one without outside help.

Multiple Cryptocurrencies: Users can exchange more than 100 cryptocurrencies on Coinbase, making it one of the largest Bitcoin exchanges in the world. Overall, it offers more cryptocurrency pairs to trade than its competitors.

Pros

A large number of cryptocurrencies
Beginner-friendly
Advanced trading platform for professionals
Earn cryptocurrencies by completing educational material
Crypto-to-crypto trading
Insured
Developer-friendly
NFT-enabled
Android and iOS apps

Cons

Costly for small traders
Poor customer service

⇒ Click Here to Visit the Official Website of Coinbase

How We Made the List of the Best Crypto Exchanges

We made a long list of the most used Bitcoin exchanges by searching online. Then, we examined each of them objectively. We looked at several factors such as trading volume, security, and insurance. After that, we refined the list by excluding Bitcoin exchanges that do not offer the best service according to our criteria. We ended up with ten exchanges and further filtered them down to five choices.

What We Looked For

Here are our factors for determining the best Bitcoin exchange:

Security: Everything rests on good security, as strong security measures allow users to trade without worry. We looked for Bitcoin exchanges with a stellar security track record. We looked at security breach prevention measures and safe account management methods. These also include compliance with the law, appropriate licenses, and expert security analysts.
User Experience: The average Bitcoin trader might not have coding experience. Thus, we chose Bitcoin exchanges that are intuitive for inexperienced users. User experience is not limited to a flashy user interface, but it also helps reduce mistakes and unintentional actions.
Cash Flow: In other words, this is the number of active buyers and sellers conducting transactions. We selected exchanges that offer users a high trading volume, as we wanted to make sure the capital was large enough to allow both new and experienced traders to test strategies and trade freely.
Insurance: It will not negate every aspect of risk, but still, insurance means users will not lose their investment in a cyber attack. Reputable Bitcoin exchanges offer a safety net by sharing the loss in those rare cases, and it also shows they feel responsible toward their users.
Transaction Fees: This was a major consideration for us, as fees can be a headache for users since they can reduce gains. With so many trades, charges can pile up and take a big bite off of the net profit. We examined the fees structure to ensure they are fair for the average user.
Cryptocurrency Availability: Options are vital when trading cryptocurrencies, and advanced Bitcoin exchanges add more cryptocurrencies as they gain popularity. This allows users to diversify their portfolios, which is why we included active platforms to help users trade as many cryptocurrencies as possible.
Payment Options: We considered payment methods for international users, as multiple payment options make trading more convenient for users.

Buying Guide

Choosing a Bitcoin exchange is all about your trading style. Before everything else, think about your ultimate goals from investing. Do you want to invest long-term and reap the benefits after ten years? Are you looking to trade every day to make quick wins? Know what you want before you start, and take note of the following factors:

Bitcoin has been in circulation for over a decade. Many exchanges have established a stellar reputation, while others still strive to prove their worth. A discerning trader should separate between the two types of companies on the market. So, look into each Bitcoin exchange from a neutral point of view. For example, does your chosen company have positive reviews online? Dig into customer reviews and look for questionable practices.

Pay attention to government financial institutions in the news. If the Bitcoin exchange is under the crackdown, you may want to pass. Additionally, does the trading platform show up on scam alerts? If so, that is a red flag, and you should steer clear.

Read the terms and conditions, as some companies may hide unfair rules in their privacy policy as well. Do thorough research before choosing one Bitcoin exchange over another.

Trading Bitcoin online is illegal in some countries. So, you want to make sure it is legal in your country or state. A Bitcoin exchange cannot do much if you get caught doing something illegal. So, do not depend on your anonymity, as authorities can track you down.

Before choosing a Bitcoin exchange, make sure it follows the laws of your country. You also want to make sure you are not breaking any rules by trading Bitcoin in your country. Working through a regulated Bitcoin exchange saves yourself the headache of potential legal trouble.

It is wise to choose a Bitcoin exchange that operates in your country. That way, you can be sure they follow local laws. Furthermore, it means they will adapt to new rules much faster.

Helpful customer service is your best friend, as it is the most critical factor to consider when choosing a Bitcoin exchange. Before investing, you can do a litmus test. How? Contact the customer service department and ask some questions. These representatives should be Bitcoin experts, and their knowledge and experience will be valuable in avoiding risks.

While they cannot give you investing advice, they will show you how to use the platform, which will help you reach your goals much faster. It is much like using a tool to build something. Once you master the system, you can create whatever you want. In the cryptocurrency industry, understanding your Bitcoin exchange will increase your potential. This is why customer service plays a vital role in your success as a Bitcoin trader.

To succeed in Bitcoin trading, you need the best available technology. So, focus on upgrading your equipment, and choose a Bitcoin exchange with a robust infrastructure. All of these elements will come together to help you succeed. Advanced technology also translates to more security, fast transactions, and better yields. So, choose the best technologies you can find to invest in Bitcoin.

FAQs: Bitcoin Exchanges

Q. Why Is Bitcoin Volatile?

Bitcoin and other cryptocurrencies fall under the speculative investing category. For the most part, Bitcoin trading remains unrestrained. If you are going to invest in it, prepare for a wild ride, as you can either make a big bank or lose it all.

Veteran Bitcoin investors recommend never investing more than you can afford to lose. Then again, it depends on your mindset and the amount of money you can invest without breaking your bank. Overall, it is a risky business.

Experts agree that below $50,000, it is a bear market, and above that, it is a bull market. So, know your goals and plan in advance.

Q. How Do You Buy and Sell Bitcoin?

First, you want to start an account at a trusted Bitcoin exchange. Make sure to study the company and understand its requirements. We gave you some of the best Bitcoin exchanges, so feel free to choose one of them.

Next, prepare your identity verification documents. Some centralized Bitcoin exchanges ask for these documents to verify your identity, which could include your email, phone number, and passport.

After that, get a wallet. You can get an off-platform wallet to store your Bitcoin. However, Bitcoin exchanges also offer built-in wallets. You can store your Bitcoin on the platform or offline. If you want to eliminate the risk of an online wallet, it is best to use cold storage.

With your wallet set up, you can start buying and selling Bitcoin the same day. Of course, you will need the technology to keep your trading running. So, you may want to start looking into upgrading your internet connection.

Q. Should I Buy Bitcoin?

In essence, buying Bitcoin is a bet on future technology. It will work if blockchain technology works. Nobody can tell whether blockchain will deliver on its promises in the future. So, you have that. Moreover, you do not want to put all of your eggs in one basket.

Take a look at your portfolio as a whole, and think about investing in stocks, real estate, and forex. These are much more stable markets with consistent yields. If you want to invest in Bitcoin, it should not take more than 5-10% of your whole portfolio, making it somewhat safer.

Also, you will want to do your homework. So, study blockchain technology, Bitcoin, and cryptocurrencies, and take your time before making the final decision. All in all, you do not want to rush the decision. Bitcoin is not a 100% safe investment despite the assurances. So, measure the rewards and risks, and do what is best for you.

Q. Where Can I Buy Bitcoin?

If you are a total Bitcoin beginner, Coinbase is the best option. Why? Because the company offers the most for trading crypto. The platform is safe, and the fees are somewhat reasonable.

Another good option is eToro, as the platform makes it easy to build a virtual portfolio. Beginners can test and play without losing real money. Furthermore, Coinmama lets users buy Bitcoin faster than most, and it also has several payment methods.

BlockFi is the best for crypto borrowers, as the platform lets users trade Bitcoin without standard fees. You can use your stored Bitcoin as collateral to get cash loans. Most of all, your Bitcoin can collect interest even if you let it sit there without trading.

Q. Do I Keep My Bitcoin in the Exchange or in a Wallet?

A separate cold wallet is better if you plan to hold your Bitcoin for a while. These cold wallets are physical devices you can stash away in a safe place. Storing your Bitcoin away from hackers is the best way to reduce risk. Furthermore, you can keep your hands off of your Bitcoin if you are prone to constantly checking your wallet.

Keeping your Bitcoin in the exchange is more accessible. If your goal is futures trading Bitcoin as an income source, a hot wallet is an obvious option. These wallets are online, but hackers can get to them. So, activate your security features and be careful around them.

You can also use a hybrid wallet, where you can store some of your Bitcoin offline and trade the remaining part. That way, you can keep part of your investment untouched and away from hackers. At the same time, work with the other party for fun and profit. It is up to you and your ultimate goals from investing in the first place.

Q. Can I Exchange Bitcoin for USD?

When you sell Bitcoin for USD, the Bitcoin exchange will put the Bitcoin cash in your USD balance, and your Bitcoin remains separate. Then, you can withdraw your USD to your bank account. But, the transfer process from your crypto exchange account to your bank may come with fees.

Q. How Do You Trade Bitcoin Without an Exchange?

With or without Bitcoin exchanges, you will need a crypto wallet to store your Bitcoin. A viable alternative is to use an ATM. Find one in your area, and you are half done. Bitcoin ATMs can help you buy and sell Bitcoin. They work like a regular machine, and you can use them as such.

To buy Bitcoin from an ATM, you can insert the amount you need to buy. You will get the current rate and can use dollars to purchase and transfer Bitcoin to your wallet. If you want to sell Bitcoin, enter your wallet address and the amount. Within moments, you will get an equal amount in dollars. However, ATMs will charge a fee for both transactions, which can be as high as 5%.

Q. How Does a Bitcoin Exchange Work?

A Bitcoin exchange is an online platform for traders to buy and sell Bitcoin. Traders can deposit USD and other fiat currencies and trade Bitcoin. A Bitcoin exchange is like an open network that connects Bitcoin buyers and sellers. It makes it easy to trade cryptocurrencies as well.

In essence, it is a brokerage that gets a cut for connecting people who want to buy and sell Bitcoin. Furthermore, users can purchase Bitcoin and withdraw their earnings via bank transfer.

Some Bitcoin exchanges let users trade other cryptocurrencies besides Bitcoin. For example, users can exchange between Dogecoin and Ethereum and earn the difference. In this case, the Bitcoin exchange also gets a conversion fee. Furthermore, a Bitcoin exchange might extend its services. For example, it may offer crypto lending, credit or debit card, and wallet management products.

Concluding Thoughts

Bitcoin has been making the headlines for the past decade. Some people view it as a bubble, while others think it will change the world. No matter what, it seems like Bitcoin is gaining momentum year after year, and nobody can tell what comes next.

Anyone with an itch to jump the wagon must trade through a Bitcoin exchange. But, is it the only way to trade Bitcoin? No, but it is the safest way to date. We did tons of research in creating our list and left no stone unturned. The result is a list of the best Bitcoin exchanges you can trust.

In conclusion, nothing about Bitcoin is 100% risk-free, and there should be a big neon sign that says, “buy at your own risk.” Trading Bitcoin is not for everyone, and investing experience is a must. At least do some homework before pulling the trigger. Bitcoin made millionaires, but it also broke people. To build wealth, think about Bitcoin as a supplemental investing strategy. It is better to be safe than sorry.

Most of all, choosing the best Bitcoin exchange can make or break your strategy. So, choose it as if your life depends on it. To make it a little easier for you, we suggest both Crypto.com and eToro as being at the top Bitcoin exchanges in the market.

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