Our
Top Picks For The Best Crypto Exchanges And Trading Platform Of 2022.
In our previous tutorial, we discussed the Step
By Step Guide on How To Choose the Best Crypto Exchange In 2022. In today’s tutorial, we have gone ahead to
hand-pick some of the exchanges we believe anyone from most parts of the world
can use without many restrictions.
Coinbase which is on our selection is best for US residents and some
others like Binance and FTX also have their US version dedicated to US citizens
alone. Nevertheless, the exchanges
listed below are the best crypto exchanges globally in two parts of reviews.
Post Contents
Things
To Be Aware Of
Before we proceed, kindly note that we are
making these recommendations for these platforms and exchanges based on our personal experience
using them. We may receive
compensation if you visit partners we recommend but our picks are not
influenced by the referral bonus or commission that we may get if you sign up with
them. As a matter of fact, we have in
most cases gone ahead to secure mind-blowing deals that you won't get if you go directly to their websites to sign up and all these are to make your use of these platforms cheaper and more profitable.
However, the decision is yours to make, Read our disclaimer for more
info.
To be sure you are on the real official
website of the recommended exchanges; we recommend you follow the links we have
provided. Beware of fishing and
malicious websites; always ensure that any site you visit is SSL certified
before imputing any personal details
If you want to buy or sell cryptocurrencies,
opening an account with a cryptocurrency exchange is certainly a great way to
start. If you are in developed and
crypto-friendly countries like the United States and the UK, how to buy and sell
and choosing an exchanger or wallet won’t be such an issue for you. But for countries like Nigeria where buying
and selling of crypto are restricted, it is a big issue. Extra care has to be taken in choosing an exchange
that can help you to be able to have access to the multibillion-dollar crypto
market. You must choose Crypto exchanges
with the functionality to enable you to buy with your local currency, the Naira
without looking for where to source the unavailable USD as well as be able to
sell and get your money back in your local bank account.
Another thing we have carefully considered in
choosing these cryptocurrency exchanges are factors such as supported assets,
fees, payment methods, and most importantly, security and customer support.
To help you find the right exchange, we considered these factors when selecting
this list of the best cryptocurrency exchanges you can think of using
especially if you are in Nigeria. We
have categorized the exchanges as follows:
Most Established and Most Regulated Exchange:
Coinbase
Coinbase is one of the foremost cryptocurrency
exchanges, established in 2012. It is one of Bitcoin’s early adopters but it
did not gain mainstream and global recognition until 2021 when it became the
first and only cryptocurrency exchange to be quoted publicly on NASDAQ, the
US Stock Exchange. Coinbase can boast of over 150 tradable cryptocurrencies for
its over 98 million users worldwide to buy and sell on the most beautiful
interface in the industry with deep liquidity of over $256 billion in assets on
the platform and a quarterly turnover of approximately $309 billion trading over
13,000 financial institutions.
Coinbase Pros And Cons
Coinbase has a lot going for it but cannot
shy away from its own limitations as there are no perfect systems anywhere
Pros
- A beginner-friendly interface that makes it easy for beginners.
- Coinbase also has the Coinbase Pro platform for professional and experienced traders
- Support for a large number of cryptocurrencies
- Opportunities to earn cryptocurrency by
learning about them
- The same Coinbase account can be used across Coinbase Wallet and Coinbase Pro
- Simple and advanced trading
- Rich educational content
- Top-rated mobile app and Coinbase debit card
- Low minimum entry requirement.
Cons
- Complex and high transaction fees structure
- Limited staking and interest opportunities
- Poor
customer service experience
- Customer service is not available at all in some
countries
- No control over your private keys
- No privacy for users as significant identity
verification is required for account
opening
Coinbase Overview
One of Coinbase's greatest strengths is the beginner-friendly
interface that makes it easy for beginners to buy, sell, trade, and store
crypto assets. Another thing Coinbase
has going for it is its strong base and liquidity coupled with its regulatory
compliant posture and the assurance of the protection of users' funds through a
watertight multi-layer security and insurance cover for deposited funds.
Coinbase
Features
Coinbase
Security
Coinbase uses industry-leading multi-layer security practices to secure customer deposits and assets. Coinbase says that 98% of customer assets and
deposits are stored offline using cold storage in a network of safe deposit
boxes around the world and they are supported by digital and paper backups.
Cash balances stored in Coinbase accounts are insured by FDIC insurance up to a
maximum of $250,000 per customer, just like assets held in a savings or
checking account in a bank. It uses bank-standard encryption and security for the Coinbase website. Furthermore, all
accounts on Coinbase are made to compulsorily make use of two-factor
authentication by default.
Coinbase
Customer Service
For us, this is the only place Coinbase is
flopping the lines and it’s one of the most noteworthy issues users have with
Coinbase. It’s nearly impossible to reach a human for any type of help, so you
could as well consider them to be a self-service exchange. Notably is that you won’t lack educational
and instructional materials to guide you in the usage of their user-friendly
platform as they maintain an impressive library of educational resources,
ranging from crypto basics, tips and tutorials, market updates, and more.
Coinbase
Trading Platform
Coinbase provides both a basic beginner’s
interface and advanced trading tools for pro traders though with high
fees. The basic beginner’s trading
option has a straightforward design that's easy to deposit, buy or sell. Whereas advanced trading offers more
features, including charts, a live order book, and limit orders with a lower
transaction fee compared to the simple option.
Coinbase
Learn To Earn
This is where Coinbase edges out other
competitors. With Coinbase beginners are
incentivized to learn and complete educational modules about different crypto
projects and earn free crypto doing so.
The free crypto is small and can be completed in fewer than 5 minutes
but it is a very fun way to learn about cryptocurrencies.
Coinbase
Debit Card
Coinbase customers can request and get a
prepaid Visa debit card linked to their Coinbase account balance which can be used to spend cryptocurrencies from any part of the world while earning 4% cash back in
the process.
Coinbase Fees
Coinbase has the most complex fee structure that depends on several different
factors, starting with the Coinbase tools you choose to trade on; simple trade tool or advanced trade option. Advanced trade is recommended because it has
much cheaper fees but is not available in all jurisdictions where Coinbase simple
trade and Coinbase Wallet can be used.
In other not to make this review excessively
long we recommend you learn more about Coinbase fees and more here
Conclusion
On Coinbase
Coinbase is not a perfect exchange and there
is no perfect exchange anywhere. But if
you want a top-class trading platform with a beautiful user-friendly interface
on both the website and the mobile app to buy and sell, then Coinbase is your best bet. Also,
if you are just trying to venture into the cryptocurrency ecosystem and looking for a platform
with plenty of educational resources. Or you want to have a feel of
cryptocurrencies for free. Coinbase
offers beginners the opportunities to earn free crypto, including staking and
interest-yielding programs.
Are you among the 98 million Coinbase users?
If not, Sign Up Now and enjoy unmatched discounts on fees and free $10 for every
$100 you deposit in Coinbase. It can’t get any better than that.
Over All Best Cryptocurrency Exchange: Binance Global
Binance is a relatively new exchange compared to
the likes of Coinbase. Launched in June
2017, but became the world’s largest crypto exchange by trading volume ever since within one
hundred and eighty days making it the first and only cryptocurrency exchange to
achieve such fit.
Binance
Pros And Cons
Like other exchanges, Binance has its own
strong points and shortcomings in the trading platform.
Binance Pros
- Binance has the widest range of
cryptocurrencies and trading pairs available in the market among all the top
exchanges.
- Binance has a good and easy-to-use trading
platform that caters to different levels of trading experiences on both web and
mobile Apps.
- It has dozens of tutorials that to help users
with different features of the platform.
- Binance supports various methods for deposits
and withdrawals of funds
- Over 50 fiat currency
- One can earn an interest in their crypto
holdings automatically, as well as good rewards for staking digital assets.
- Binance
by trading volume delivers greater liquidity to smoothly execute high-volume trades.
- Unique
Launchpad gives traders exclusive access to any newly launched coins and
tokens.
Binance Cons
- Binance platform does not offer its services
without complete and comprehensive KYC compliance.
- Traders cannot trade on Binance until
completing the verification process.
- Advanced trading platforms are quite
complicated for new traders.
- Binance futures trading is designed for
professionals and well-experienced traders.
- A
Binance test account is only available in the Binance Futures Trading sections.
- KYC now required
- You don't have access to your private keys
Binance
Overview
Binance is one crypto-currency exchange that
needs no introduction as evidenced by its achievements over the years. The trade of financial instruments and
digital assets has evolved tremendously in Binance since its inception and they
continue to get better through innovation and introduction of new assets and
promotional offers such as fee discounts.
Binance Features
Binance Fees
Binance is one of the cheapest exchanges in
transaction fees both the maker and taker fees.
Binance standard taker fee starts at 0.075% and the standard maker fee
at 0.025 for spot trading you can
save an additional 25% off if you pay the fee with the Binance native token, BNB, and an additional 10% if you sign up now with our promo link Here Now Even better is the
announcement of 0 fees for BTC spot trading pairs in July 2022 and followed by
ETH/BUSD pair in August 2022
Binance OTC
Trading
In other to keep up with the competition, Binance
announced in April 2020 the introduction of the OTC trading portal giving its millions
of traders globally access to the OTC trading marketplace without additional
trading fees and the risks of slippage.
Traders with a minimum trade size of $10,000 in BTC can now get a quick
settlement when they execute on Binance OTC Trading Portal and can also execute trades in other 25 different crypto coins and tokens.
Binance
Security
Binance is a safe trading platform that
implements end-to-end security features. binance secures its data in its own
ecosystem, the Binance chain. For customer protection, Binance uses two face authentications
to secure accounts among other protective measures.
Binance
Conclusion
Binance
is no doubt the world leader in the crypto space. Binance provides a range of products and
services that are not even scratched on this review and we encourage you to
take a good study of the platform and explore the rich instructional material
on the website to learn more about the platform and the crypto industry in
general. With Binance's low fees and
liquidity, a wide range of asset classes, multi-layered security, and coverage, you
can’t go wrong with Binance. Even
restrictions in some countries have not impacted Binance much so we safely say that
Binance will continue to dominate and evolve as a perfect platform for trading
cryptocurrencies on a global scale.
You
Don’t Have an Account On Binance Yet? Sign Up Now and enjoy unmatched discounts on
fees
Continue to part 2 of Here!
Book
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