BEST CRYPTO EXCHANGES 2022

There are many crypto exchanges for day trading in the world today. Each of them has its own advantages and disadvantages.

Before you start using the services of a particular exchange, pay attention to the criteria listed below:
  • Reputation: it’s worth sticking with exchanges that have positive reviews for their entire period of operation;
  • Daily trading volume: transaction speed will depend on it;
  • Functionality: Besides the basic trading tools, check the availability of additional features: exchange rate monitoring, staking, landing, payment gateways, etc.
  • List of cryptocurrency pairs;
  • Software;
  • Deposit and withdrawal terms, transaction fees, supported payment systems.
By far, the best cryptocurrency exchange for day trading today is Binance. It has a number of significant advantages over its competitors: a user-friendly, accessible interface and low transaction fees, as well as numerous financial products for traders and investors of any level. However, despite its convenience, Binance is not available in some countries - for example, residents of some US states cannot register on the exchange. Traders who can’t use Binance might consider using another popular exchange – Crypto.com. But besides these two platforms, there are exchanges with good functionality that are available to a wide range of traders.

Attention! This article is for informational purposes only and does not contain recommendations or calls to action.

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KEY TAKEAWAYS:
  • When choosing an exchange, you should be guided by your goals and needs. Try out different platform before choosin one that suits you best.
  • Among other things, it might pay to study the history of a particular exchange – whether it has reliable trading history, or whether it’s been exposed to hack attacks, etc. If it has, you should find out how quickly and to what extent it managed to compensate for its users’ losses.
Note: Remember that cryptocurrency exchanges should be used for trading and buying, but not for storing coins. When you have made a major trade and made a large profit, consider using a wallet.

What Is The Best Exchange For Scalping Crypto?

To choose the right crypto exchange for scalping, you need to pay attention to several criteria. First, the exchange you choose should have low trading fees, because scalping involves making a large number of trades each day. If the trading fees are high (0,2-0,3% and more), you might end up trading at a loss on that exchange.

Second, a crypto exchange should have a small trading spread in the spot market order book. Since this is a form of passive commission paid on every trade, a scalper needs a minimum market spread.

Of course, the best trading platforms for scalping cryptocurrencies would be the largest cryptocurrency exchanges, such as FTX or Binance. The reason for this is that scalpers need high liquidity on an exchange to easily enter and exit a trade.

However, scalping on smaller exchanges such as Bitforex or LATOKEN can become more convenient for traders who seek convenience and anonymity, as these platforms do not require KYC.

When choosing a platform to trade on, note that your gains will depend heavily on your choice of exchange.

Top 7 Crypto Exchanges For Day Trading and Scalping

Binance - Scale

Binance Review

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Binance's interface
Binance is arguably the most well-known crypto exchange in the world. It launched in 2017 and, by the end of that year, became one top-rated trading platforms. Legally registered in Hong Kong, the company moved to Malta in 2018. It tried not to disclose its location, but in 2021 Changpeng Zhao (CEO) said it would still open a headquarters to facilitate dealing with regulators.

Click on the "BINANCE 20% Discount" button, click on the link and open the account. Register a new e-mail account which is not used for Binance earlier.

Binance Main Features

Exchange type: Сentralized.
Markets: Spot, Derivatives, P2P, DeFi.
KYC Required: Yes.
Languages: English, Ukrainian, and several dozen other languages.

Binance allows you to trade 1400+ cryptocurrency pairs. It also supports fiat deposits and trading, and you can pay with a bank card – but for that, you’ll have to do KYC. Margin trading is also available here. The listing includes 336 coins and tokens: Bitcoin, Ethereum, Litecoin, Stellar, Nem, IOTA, Cardano, and other cryptocurrencies.

It also offers discounts for using its own cryptocurrency BNB. It supports a wide range of order types: limit orders, market orders, limit and trailing stop orders, and so on.

In addition, Binance offers a variety of trading tools, including real-time charting tools with moving averages and exponential moving averages, drawing tools, and more. Trading is available through the web version, the mobile Binance app, or the Binance desktop app (supported on Windows and macOS).
To set up Binance Futures, go to the trading interface and click on the "Settings" icon. Here you will be able to configure the appearance of the trading interface, including "Theme", "Colour" and "View".
Configuring the Binance Futures Trading Interface

Binance Fees and Spreads

Binance arguably has some of the lowest fees in the market – the platform charges 0.1% per trade in most cases. Another big advantage is that Binance's own crypto token, BNB, offers an additional fee discount of up to 25%.

Low trading fees also apply to Binance Futures. At the most basic KYC level (VIP 0), you will pay a maker fee of 0.02% and 0.04% taker.

Fiat gateway transaction fees range from 1% to 7%, depending on the payment method selected. More information about fees here.

Binance Deposit and Withdrawal

Cryptocurrency deposits are free for all coins supported by Binance. As for withdrawals, fees may apply depending on the network you’ve chosen.

Binance allows users to withdraw either the regular or BEP20 version of their assets. BEP20 withdrawals are based on Binance Chain and are usually cheaper and faster for Binance users than those on other networks.

Sign-up Bonus for Binance

The sign-up bonus is available to the trader after opening an account on Binance. The platform will give you a list of tasks to complete within seven days of opening your account. When you complete all the tasks, you will be awarded a bonus.
The following bonuses are available:
  • $5 coupon for the first deposit of $50 or more;
  • $50 fee discount voucher – for a first deposit of $50 or more within five days of signing up;
  • $45 cashback voucher for the first spot order of $100 or more.

Binance Pros

  • Very low fees
  • Fairly accessible and easy to use
  • Fiat to crypto trading
  • Wide choice of cryptocurrencies
  • High liquidity
  • Wide range of financial products

Binance Cons

  • No fiat-to-fiat trading
  • No over-the-phone customer support – live chat only
  • There have been security breaches in the past
  • Weak privacy measures

Bybit - Stability

Bybit Review

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Bybit's interface
Bybit was launched in March 2018. Today the service has more than 1.6 million registered users. The exchange will be of interest to experienced traders, as it supports margin trading with leverage up to 100x. On Bybit, users have the ability to deposit and withdraw funds fairly quickly.

One of the features is that you can use the platform without verifying your account. There are plenty of training materials for beginners and a demo account.

There is also an insurance fund to protect the users' savings in case of hacker attacks. Great attention is paid to comprehensive security - from risk hedging to preventing manipulation through the double price mechanism.
To get up to $4,000 first deposit bonus and a 10% discount on trading fees on Bybit, click on the “Sign up on Bybit” button below proceed with the sign-up. Once done, you will get a 10% discount on ByBit trading fees.

Bybit Main Features

Exchange type: centralized.
Markets: derivatives, spot.
Verification: not required.
Localized interface: English, Japanese, Korean, Brazilian, etc.

The exchange will appeal to experienced crypto traders looking for a platform with advanced tools. For them, in addition to futures, the site offers spot trading and an advanced charting interface. Bybit also offers various types of orders, including take profit and stop loss to lock in profits and cut losses, respectively.
Key features and benefits of Bybit:
  • Spot and derivative trading support;
  • Perpetual trading and futures;
  • Margin trading with up to 100x leverage;
  • An insurance fund to protect investors;
  • Trading Simulator for strategy testing;
  • Support for traditional currencies;
  • Mobile app for iOS and Android;
  • High performance and stability.
The ByBit calculator allows you to use your current account information and calculate your profit, loss, liquidation and target price. The calculator is available in the top right-hand corner of the website.
Bybit calculator

Bybit Fees and Spreads

At Bybit, the taker fee is 0.075% and the maker fee is 0.025%.

When you withdraw BTC from the Bybit trading platform, you will have to pay 0.0005 BTC.

Bybit Deposit and Withdrawal

ByBit is a cryptocurrency-only exchange. This means that you cannot fund your account in fiat currency. However, Bybit has partnerships with third parties that allow you to buy cryptocurrency for certain fiat currencies.

To access the withdrawal, you have to complete Google-authentication. Funds can only be withdrawn from a spot account. If the money is in a derivative or ByFi account, you will need to transfer it.

A withdrawal request may be declined if the trader has an open position in which a bonus provides margin.

Signup Bonus for Bybit

The ByBit exchange gives $10 to a new user, as well as $50 for a first deposit. There are certain conditions for receiving these bonuses. For example, to get the $5, you have to go to social media after registration and subscribe to Bybit's channel. If you open trades and set stop loss and take profit, you will get another $5.

Bybit Pros

  • High level of liquidity in available pairs
  • Available markets: spot, derivatives, margin trading, leveraged tokens, NFT
  • Cryptocurrency purchase for fiat currency by credit/debit card
  • Advanced trading terminal
  • Advanced order system

Bybit Cons

  • Difficult navigation for newcomers
  • Limited NFT market
  • Sometimes you have to wait a long time for technical support to respond to emails

KuCoin - Wide range of products

KuCoin Review

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Kukoin's interface
Kucoin is a popular cryptocurrency exchange based in Hong Kong. It has several million registered users and is ranked in the top 100 in terms of trading volume. It offers over 980 markets and registration on the exchange is unlimited – verification is not required to trade. KuCoin also has some of the lowest fees in the market, with no account maintenance or cryptocurrency deposit fees (except for fiat currency deposits). The distinctive feature is access to less popular and newer coins, as well as a wide selection of staking products and other ways to earn passive income.

KuCoin accepts deposits via bank cards and has its own token, KCS. Trading on KuCoin is available both via the platform’s web interface and in the mobile app.

KuCoin Main Features

Exchange type: Centralized.
Markets: Spot, Derivatives, P2P, Leveraged tokens.
KYC: not required.
Language: English, Portuguese, Spanish, Italian, etc.

In addition to trading, the exchange offers users other trading options: buying/selling cryptocurrencies and futures, and P2P fiat trading.
KuCoin also provides trading bots to help novice traders, as well as an advanced charting system.
The list of contracts on KuCoin is simple and intuitive: whether users go to the app or the website, they can easily check the price and market movements.
Title: List of contracts

KuCoin Fees and Spreads

Commissions on the KuCoin exchange are lower than those on similar platforms, and include:
  • Spot Trading fees: 0.005-0.8%;
  • Futures trading fees: 0-0.032%;
  • Crypto withdrawal fee: 0.0006 BTC (or equivalent).
The exact fee may vary depending on the cryptocurrency pair, trading volume, and the amount of KCS held. You can find a detailed breakdown of KuCoin trading fees here.

KuCoin Deposit and Withdrawal

Users can fund their KuCoin account with more than 50 fiat currencies, such as US dollars, Australian dollars, Canadian dollars, and Thai baht, or cryptocurrencies from an external wallet. The easiest way to fund your KuCoin account and start trading altcoins is to transfer Bitcoin, Ethereum, or US dollars. Other popular ways to deposit fiat are using a credit card, debit card, or bank transfer via SEPA.

You can also transfer digital assets to crypto wallets or withdraw crypto for fiat money to a credit card, e-wallets, or bank account.

KuCoin does not charge additional withdrawal fees when sending cryptocurrency to an external wallet.

Signup Bonus for KuCoin

KuCoin has an affiliate program, through which you can earn $10 by registering on the exchange.

KuCoin also pays its customers a certain amount each month if they meet certain conditions.

KuCoin Pros

  • Large selection of coins and trading functions
  • Easy registration and account management
  • Benefits for KCS token holders
  • Cryptocurrency lending and other types of earning
  • Frequent tournaments and contests

KuCoin Cons

  • Cryptocurrencies can only be purchased with fiat currencies through third parties
  • No possibility to withdraw fiat currencies to a bank account
  • Not available for US users

Gemini - Reliability

Gemini Review

Basic Gemini has a modern design and is suitable for beginners and traders who prefer HODL because of its simple and user-friendly interface.
Gemini's basic trading interface
Gemini is a US-based cryptocurrency platform that is part of Gemini Trust Company, headquartered in New York. The exchange offers trading digital assets in a secure and safe environment.
Gemini aims to stand out among its competitors in that the exchange is licensed and fully regulated by the New York State Department of Financial Services.
There are 130 coin pairs available to trade on Gemini. The exchange has its own digital currency, Gemini Dollar (GUSD), a stablecoin that is issued on the Ethereum blockchain and is backed by the US dollar at a 1:1 ratio.

Gemini Main Features

Exchange type: Сentralized;
Markets: Spot;
Verification: required;
Languages: English, German, etc.

Gemini offers both retail and institutional services, namely cryptocurrency spot trading, staking, debit cards, a payment app and a commercial API to use on other cryptocurrency exchanges.
Additional exchange features:
  • Gemini Earn is a lending programme that allows you to earn interest on unused cryptocurrency balances.
  • Gemini Pay: The feature is only available in the exchange's mobile app. Gemini Pay allows users to pay for goods and services with their cryptocurrency at more than 30,000 merchants in the US using QR code technology.
  • An educational resource is Gemini Cryptopedia. It contains hundreds of articles on everything from the history of bitcoin to how NFTs work.

Gemini Fees and Spreads

Gemini's functionality offers many user-friendly solutions for traders of all skill levels
There are four main types of commissions charged by the exchange:
  • Transfer fees: wire transfer deposits are free, but any debit card deposit is charged 3.49%.
  • Withdrawal fees may vary, but are only charged if you make more than 10 withdrawals per month.
  • Trading fees: Gemini charges a flat trading fee of 0.5% (or 50 basis points) above Gemini's prevailing market price for all buy and sell transactions, using web or mobile trading apps.
  • Storage fees: these cover the cost of storing cryptocurrency in an account. Gemini offers a highly secure cryptocurrency storage solution designed primarily for institutional investors.
  • Agent fees: these are charged for cryptocurrency that earns interest on Gemini Earn. These fees are already deducted from the stated APY you can earn on this type of account.

Gemini Deposit and Withdrawal

Fiat deposits on Gemini can only be made in US dollars via a bank transfer. Cryptocurrency deposits are done via a blockchain transaction and are unlimited. Also, there’s support for Visa, MasterCard and AMEX cards.

Withdrawals can be made in fiat currency up to a maximum of $100,000 per day. There are no restrictions on cryptocurrency withdrawals.

Signup Bonus for Gemini

When you sign up on Gemini with a referral link, you can receive a bonus of $10 in bitcoins. You can claim the gift after you make a $100 trade within the first 30 days of creating your account.

Gemini Pros

  • Uses the most advanced security methods
  • Wide range of services
  • Advanced trading platform for experienced traders
  • Insurance protection

Gemini Cons

  • High and complex fees
  • Few payment methods
  • Limited international availability and possible complications during sign-up

Crypto.com - Safety

Crypto.com Review

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Interface of Crypto.com
Exchange type: Centralized.
Markets: Spot, Derivatives, DeFi.
Verification: required.
Languages: English, German, etc.

The platform offers a variety of services, including cryptocurrency investments, wallet storage, user promotions, trading incentives, interactive data charts, and support for various fiat currencies.

In addition, Crypto.com has its own cryptocurrency called Crypto.com Coin (CRO), which users can use for potential cashback, discounts, and interest rewards. Unlike other crypto exchange platforms, Crypto.com allows users to buy cryptocurrencies at real-time exchange prices without any additional fees.

This approach to trading allows users to purchase popular cryptocurrencies, such as bitcoin, faster and cheaper than any of its competitors.

Crypto.com users can trade options and futures contracts with up to x10 leverage, and earn interest by betting on coins’ price movements.

In addition to core assets such as BTC, ETH and ADA, Crypto.com offers many altcoins to choose from such as Algorand, Polkadot and Uniswap.

Among other things, Crypto.com offers a range of useful products:
  • MCO Visa card
  • Crypto Staking & Earn
  • MCO Wallet and App
The MCO Visa card (Crypto.com card) currently supports the following cryptocurrencies: BTC, ETH, LTC, XRP, MCO, BAT, BNB, TUSD and ENJ, but it is likely to support more cryptocurrencies in the future.
Crypto.com card tiers - another option available to CRO holders

Crypto.com Fees and Spreads

Crypto.com offers some of the lowest fees on the market. The base rate is 0.1% for makers and 0.16% for takers. Fees vary depending on trading volume.

Crypto.com currently has no fees or restrictions on depositing or exchanging cryptocurrency. However, there are withdrawal and purchase fees depending on the coins and cards used for the purchase.

Using a credit or debit card for a purchase will incur a 2.99% fee.

Crypto.com Deposit and Withdrawal

Crypto.com does not charge a fee for US dollar deposits via SWIFT and FEDWIRE. However, traders should be aware of the fact that their banks may charge a fee for deposits to Crypto.com.

The exchange charges a fee for withdrawals, regardless of whether the trader withdraws cryptocurrency or fiat currency. Withdrawal fees from Crypto.com vary depending on the asset. The platform also has a minimum amount to withdraw.

Signup Bonus for Crypto.com

Crypto.com has a wide range of bonuses for new users, including coin discounts and rebate options. It also has a crypto bonus offer for new account holders. New users can receive a $10 sign-up bonus if they stake 1,000 CRO.

Crypto.com Pros

  • Low fees
  • Crypto.com Visa Payment card
  • TradingView-based terminal
  • Wide set of tools for technical analysisa

Crypto.com Cons

  • Limited selection of cryptocurrencies
  • Need to hold assets in CRO to receive benefits, including lower trading fees
  • Need for full verification to access the full range of features

Coinbase - Time saving

Coinbase Review

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Coinbase's Interface
Coinbase is an American cryptocurrency exchange that was founded in 2012. It is based in San Francisco and is one of the oldest cryptocurrency exchanges in the world. It is also the second largest cryptocurrency exchange in the world, the first being Binance.

It was created as one of the easiest places to buy, sell and trade cryptocurrency and serves retail investors as well as businesses and institutions. Initially it only supported Bitcoin, but now supports a wider range of digital assets.

Coinbase Main Features

Exchange type: centralized.
Markets: spot.
Verification: mandatory.
Localized interface: English, German, etc.

Coinbase users can trade on several platforms. The original Coinbase platform is a relatively simple interface that allows users to use US dollars to buy cryptocurrencies. Coinbase Pro has advanced charting features and allows users to trade between cryptocurrencies and place market, limit and stop orders. Coinbase has recently added some Coinbase Pro features to its classic interface with a feature known as Advanced Trade.

In addition to trading on the spot market, verified site users have access to the following facilities:
  • Visa debit card for the US (all states except Hawaii).
  • Bitcoin-backed loans with an annual interest rate of up to 8%.
  • Coinbase Earn. Ceriz video tutorials and tests. By learning, users can earn cryptocurrency.
  • NFT platform.
Advanced Trade provides users with robust tools for making trading decisions. Clients have access to real-time market information through interactive charts, order books and real-time trading history.
Advanced Trade dashboard

Coinbase Fees and Spreads

Cryptocurrency exchange Coinbase has introduced a system of fees and commissions:
  • Fees ranging from $0.99 for transactions under $10 to $2.99 for transactions not exceeding $200 or the equivalent amount in any other currency
  • Transactions over $200 are subject to a fee of 1.49% for standard payment methods and 3.99% for payment cards.
  • Coinbase charges up to 2% of the spread margin for crypto conversions.
In addition, there is a Coinbase USD Wallet fee of 1.49% and a 2% fee for credit transactions. The bid-ask spread is 0.5%, but can vary.

Coinbase Deposit and Withdrawal

It is possible to fund a Coinbase wallet in both cryptocurrency and fiat. And depending on the region of registration, the client will be offered different payment terms for withdrawal. European clients can withdraw up to EUR30,000 weekly, American users can withdraw no more than $5,000 via bank transfer and no more than $50,000 to cryptocurrency wallets.

If you deposit with a credit card on this exchange, you will most likely have to pay a 4% commission. If you fund your account via bank transfer, the fee is 1.5%.

As for the withdrawal fee, there is no bank transfer fee, but when you withdraw to a bank card, the fee is 2% (minimum $0.80).

Signup Bonus for Coinbase

New users who successfully create an account and purchase cryptocurrency can receive $5 in bitcoins. The promotion is only available to US residents.

Coinbase also has a referral programme. Under this referral programme, you receive $10 for referring a friend, who in turn will trade for $100 or more.

Coinbase Pros

  • User-friendly interface for beginners
  • High liquidity of supported digital assets
  • High level of security
  • FDIC insured

Coinbase Cons

  • Regular hiccups and lags, especially when there are strong Bitcoin movements
  • Debit cards are only available in a limited number of countries
  • Only six coins available for staking with high fees

Conclusion

When choosing a crypto-exchange, it is important to consider the key parameters on which the ease and security of trading depends. For experienced users, the types of trading supported and the currency pairs for which trading is available are important.

Choose a platform according to your preferences: what you will trade, whether you are ready to be verified, what payment methods are more convenient for you, whether you plan to work with fiat currencies, etc.

Also, you should consider trading, deposit and withdrawal fees and daily transaction limits. Choose that exchange which suits you in the majority of parameters and allows you the most flexible management of your funds.

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