Cryptocurrencies have become a legitimate phenomenon in the world of finance. According to an article on business news website CNBC, global crypto adoption has increased by 881% in the past year, with countries such as India, Pakistan, and Vietnam leading the fintech craze.
As so many more people around the world embrace cryptocurrency, it’s becoming clear that people are using the assets for a number of different purposes. Investment leads the way, but there are also some who adopt crypto for use in peer-to-peer transactions or even ordinary consumer purchasing. Whatever purpose any given crypto user may have in mind though, the use of a cryptocurrency exchange is almost always necessary. While there are technically other ways of obtaining cryptos (like direct mining or crypto ATMs), the vast majority of users secure their digital assets though exchanges.
Here, in our estimation, are some of the best ones.
1. Cash App
Cash App is known by many as an alternative to the popular peer-to-peer money transfer system Venmo. Aside from its peer-to-peer transfer function though, Cash App also has crypto trading features that are designed to be simple and intuitive for beginners. Alongside stock and ETF investment options, the app allows users to buy up Bitcoin — the top cryptocurrency in terms of popularity, user base, and market utilization. Cash App’s interface is very user-friendly, to the point that some find it a pleasure to use (as opposed to just not a pain). It is important to note, however, that users cannot actually withdraw cryptocurrencies from Cash App. Activity is limited to trading and investment.
If you want to trade crypto, but don’t want to have limited options, the Hong Kong-based exchange Binance is well worth a look. Trusted finance resource AskMoney reports in one of their posts that Binance is the world’s largest crypto exchange. Despite only being around for four years, Binance has an estimated user base of 28.6 million people and supports more than 500 cryptocurrencies. Experienced crypto users and day traders are best suited for Binance as it allows for fast and simple cryptocurrency trading. In addition, Binance has low trading fees, a responsive mobile app, and great charting tools — all of which makes it appealing to those who trade crypto for a living.
Since its release in 2012, Coinbase has been a reliable platform for new and experienced crypto traders alike. At the same time though, Coinbase has come a long way from its humble beginnings. Today, users can find tons of useful features on the platform, such as a secure crypto wallet, a crypto checkout solution, and a massive variety of altcoin listings. For those who want to take a deep dive into crypto trading, Coinbase Pro is also a valuable feature, essentially offering powerful tools for more experienced traders. We should note that Coinbase Pro is only available in 42 countries due to strict global rules and regulations around crypto exchanges and apps. But even the basic Coinbase app is a great value to those looking to get involved in crypto.
Tyler and Cameron Winklevoss, commonly referred to as the Winklevoss twins, are well known from their association with Facebook’s founding and their appearance as rowers at the 2008 Beijing Olympics (not to mention their portrayal in the film The Social Network). Not as many people realize, however, that they’ve also founded Gemini, which has become one of the most trusted exchanges in the crypto world. Gemini prioritizes regulation compliance and legitimacy, which makes it one of the best crypto exchanges for folks who are concerned with security in particular. But make no mistake, this is not a niche exchange only for those who prioritize security measures. Financial news website Business Insider reports that Gemini now oversees crypto assets worth more than $25 billion, making it one of the biggest players in the space.