Top 5 Crypto Brokers in 2022

Top 5 Crypto Brokers in 2022

Traders can purchase, sell, and convert various cryptocurrencies and NFTs on platforms that are referred to as crypto trading platform. They are essential in order to facilitate the trading of digital assets on the scale that is now possible. While some exchanges boast the most affordable costs or the fastest transaction times, others cater to customers with specific financial goods.

Continue reading if you want to find out which cryptocurrency exchange is best, how it operates, and which one you should use.

In November 2022, we researched and sorted these top brokers for crypto trading: 

1. Best in terms of fees: Binance.US

2. The Best for Security: Crypto.com

3. The best for beginners: CapitalXtend

4. The Best for Earning Interest: BlockFi

5.  Best Decentralized Exchange: Bisq

The Best Crypto trading platforms

1.     Best in terms of fees: Binance.US

We chose Binance.US as the best crypto exchange for low costs because it has one of the most generous fee structures we analysed. Its U.S. partner offers several of Binance's advantages. Its maker/taker fee structure is capped at 0.1%. This fee starts low and falls as your trading volume rises. The exchange offers more than 140 cryptocurrencies that can all be bought in USD, saving buyers on conversion fees. Binance isn't available in Hawaii, New York, Texas, or Vermont.

 Pros  

1. Exceptional security infrastructure
2. Low fees when you fund your account with cash transfers
3. Advanced financial and data charts

 Cons  

1. Currently, credit card purchases are not possible
2. Certain services are unavailable in certain U.S. states.

2.     The Best for Security: Crypto.com

We chose Crypto.com as the best crypto exchange for security because of its various layers of protection against crypto fraud and cyberattacks. Most respectable crypto exchanges have strong security, but Crypto.com stands out. The exchange ranks #1 among the top 100 exchanges by cybersecurity grade. Crypto.com employs multiple measures to keep customers' cryptos secure on its trading platform, including offline cold storage for all crypto, a regulated custodian bank account for traditional cash, and regular software peer review. It uses password, biometrics, email, phone, and authenticator authentication.

Pros  

1. Exceptional security infrastructure
2. Low fees when you fund your account with cash transfers
3. A large number of crypto assets

 Cons  

1. Costly credit card and debit card purchases
2. A few services are unavailable in the United States.
3. No cryptocurrency-to-cryptocurrency trading possibilities 

     3. The Best for beginners: CapitalXtend

CapitalXtend was chosen as the best crypto exchange for beginners due to its simple interface, abundant educational material on topics ranging from blockchain to volatility, and powerful security measures. With a simple onboarding procedure that eases customers into trading, this platform does an excellent job of decreasing the barrier to entry for investing in crypto. At the same time, its user interface makes surfing the platform and managing crypto a breeze.

 Pros  

1. Simple purchase process and intuitive, user-friendly UI
2. A wide range of educational materials
3. A diverse range of cryptocurrencies

Cons

Some coins are unavailable 

[ Suggested read: 5 Best forex brokers for beginners ]

     4.     The Best for Earning Interest: BlockFi

We chose BlockFi as the best crypto exchange for generating interest since it allows users to earn interest on their crypto and borrow money using Bitcoin as collateral. The exchange's BlockFi Income Account offers crypto investors up to 9.5% APY as monthly compounding interest. Users can use bitcoin as loan collateral.

Pros  

1. Earn interest payments every month on your bitcoins.
2. American-based, regulated and institutionally supported
3. No monthly account fees or commissions 

Cons  

1. The range of products is incredibly different between states.
2. Interest-bearing accounts have a cap on withdrawals.

     5. The Best decentralized exchange: Bisq

Bisq is the finest decentralised exchange because it maintains an open-source, decentralised platform without currency limits. It provides centralised exchanges' easy-to-use interface and coin support to a decentralised ecosystem. The platform uses open-source software, so its design is public, and it's funded by user savings and donations.

  Pros  

1. Supports transactions using a variety of coins and conventional currencies
2. Several different payment options
3. Quick verification procedure

 Cons  

1. Only notifications on mobile devices are functional.
2. Must only transact using Bitcoin or BSQ

Are You Prepared to Face the Future?

It appears that digital currency and the blockchain are the future of finance. Despite their normal volatility and lack of general acceptability as a payment method, trade cryptocurrencies are likely to become increasingly utilised for online transactions. Therefore, they could be an intriguing long-term investment, especially if you have a high-risk tolerance.

Nobody knows where we will be in 20 years, but cryptocurrencies and blockchain technology are becoming increasingly formidable financial forces. Start immediately with one of our suggested crypto dealers.