Best Crypto Exchanges of August 2022

Top 8 cryptocurrency trading platforms. Their main indicators are presented below.

NAME	RATING	DAILY TRADING VOLUME	NUMBER OF COINS AND TOKENS AVAILABLE	TRADING PAIRS
Binance	3,7/5	$8,8 billions	485	1905
Coinbase	2,9/5	$2,4 billions	158	442
FTX	3,1/5	$1 billion	376	503
Kraken	3,2/5	$0,5 billions	112	446
KuCoin	4/5	$1,1 billions	714	1394
Huobi	2,9/5	$1,2 billions	432	1040
Gate.io	3,7/5	$0,8 billions	1017	1836
Bitfinex	4,1/5	$0,4 billions	258	647

Binance

The cryptocurrency exchange was launched in 2017 by Chinese developer Changpeng Zhao. Five years later, Binance is the largest cryptocurrency infrastructure provider.

The platform has tools such as:

• Spot trading
• Derivatives
• DeFi (decentralized finance)
• OTC trading (OTC)
• Earn (passive income from investments)
• NFT

The ecosystem also features a proprietary decentralized exchange (DEX). DeFi tokens of the BEP-2 standard can be traded on it.

Binance has a division to operate in the United States. As of 2022, it is licensed to operate in 35 states.

The crypto platform in question has issued a native exchange token BNB. Initially, it was created using the ERC-20 protocol (from the Ethereum ecosystem). BNB later became a native coin in the Binance Chain (BC) and Binance Smart Chain (BSC) blockchains. As of 2022, BNB cryptocurrency can be traded on 3 digital networks:

• Ethereum
• BC
• BSC

BNB holders can:

Pay fees from exchange trading.
Participate in tokenseals through Launchpad.
Make charitable payments.
Provide liquidity for decentralized exchanges in Liquid Swap.
Pay for purchases by card.

Technical support is available around the clock. The official website is translated into 31 languages, including Russian. Cryptoplatform supports deposit and withdrawal of more than 60 fiat currencies. Deposit and cash out the account can be done through Visa/Mastercard. Additionally, Binance has a P2P platform for direct transactions with exchange users. Also, the developers of the cryptocurrency exchange provide free applications for the following operating systems:

• Windows
• Android
• iOS

Coinbase

The crypto-exchange was created in 2012 by former Airbnb project collaborator Brian Armstrong together with investor Fred Ersam. After 9 years of operation, Coinbase Global Inc. went public. In the spring of 2021, the company held an IPO, and its shares under the ticker symbol COIN were listed on the American stock exchange NASDAQ.

Coinbase is officially registered in the United States. As of early 2022, the platform has 42 licenses to operate in different states and 2 certifications from:

• JFSA. Financial Services Agency of Japan.
• BaFin. German Federal Financial Supervisory Authority.

In 2020, the Coinbase team participated in the creation of the stabelcoin (digital token with fiat collateral) USD Coin (USDC). Circle, a financial company, and Bitmain, a Chinese manufacturer of ASIC mining equipment, led the development.

Also in 2020, Coinbase launched a service through which customers can order Visa debit cards. They make everyday use of cryptocurrencies easier.

In February 2022, Coinbase is available:

• Spot transactions.
• DeFi sector.
• Earn (investment section).
• Branded Wallet.
• Exchange terminal.

Coinbase technical support is available 24 hours a day. The site is translated into 11 languages. Registration on Coinbase is prohibited to residents of 71 countries. The exchange supports 4 fiat currencies. Deposits and withdrawals can be made using bank cards. Also on Coinbase available application for operating systems:

• iOS.
• Android.
• Windows.

FTX

This exchange is among the best cryptocurrency trading platforms. It was created by physics scientist Sam Bankman-Fried and former Google employee Gary Wang in 2019. FTX quickly became popular because of its partnership with Binance. Also since 2020, management has the rights to the cryptocurrency tracker Blockfolio.

FTX is registered in Antigua and Barbuda. This island nation is offshore. But the FTX administration complies with the laws of the jurisdictions in which it operates. As a result, users of the crypto site are required to confirm their identity with a passport. Also for the .us domain zone (US jurisdiction), the management has created FTX US division.

FTX has an exchange token with the ticker FTT. It operates on top of the Ethereum cryptocurrency network under the ERC-20 standard. FTX customers are paid for holding FTT:

• Commission discounts.
• Voting Rights.
• Part of the operating profit from FTX fees.

Users of the crypto exchange have access to the prediction market. The list of services and tools also includes:

• Spot trading.
• Derivatives.
• OTC.
• Decentralized finance.
• FTX Pay terminal.

The creators of the digital site have also developed a free mobile app called FTX Pro. It can be downloaded to iOS and Android smartphones and tablets.

The FTX interface is translated into 12 languages. FTX tech support is available 24 hours a day. Deposit and withdrawal via Visa/Mastercard is also available to clients of the crypto exchange.

Kraken

The crypto exchange was founded by the management company Payward Inc. in the fall of 2013. The corporation has several divisions in different jurisdictions. Payward Inc. is regulated by the following regulators:

• FinTRAC. Financial Transactions and Reports Analysis Centre of Canada.
• FinCEN. U.S. Financial Crimes Enforcement Agency.
• FCA. UK Financial Services Authority.
• AusTRAC. Australian Transaction Reporting and Analysis Centre.
• JFSA. Japan’s regulator.

Kraken gives users the ability to operate the trading terminal in 3 different mobile device apps:

• Kraken. It’s a basic app that duplicates the functions of the browser version.
• KrakenPro. This version is designed for automated trading via API.
• Kraken Futures. This is a separate application for working with derivative instruments.

It is best to trade cryptocurrency through the basic software. All 3 programs are free to download on Android and iOS smartphones. Separate versions of applications have been developed for tablets.

Kraken is available:

• Derivatives.
• Spot transactions.
• Margin trading.

Cryptocurrency stacking and peer-to-peer exchanges are also available to Kraken users on a separate P2P platform. The support team is available 24/7. Usually, employees respond within 5 minutes of the request. Also, the interface of the site has 12 localizations.

Kraken supports 8 ways to deposit and withdraw investments. But among the available methods there are no bank cards.

KuCoin

The digital platform was created by cryptocurrency enthusiasts led by expert Michael Gan in 2017. The exchange operates in the jurisdiction of the Seychelles. KuCoin is not controlled by regulators. But the cryptocurrency exchange follows international AML/CTF (anti-money laundering policy) standards, so visitors are required to pass passport verification.

In 2017, the creators of KuCoin introduced the exchange altcoin KCS. Its storage in a wallet allows traders to save on commissions during trading and automatically participate in the daily distribution of 50% of the fees that the cryptoplatform charges for its services.

KuCoin has a proprietary mobile app that is compatible with Apple devices and Android smartphones/tablets. The software can be downloaded through AppStore/Google Play and the website of the crypto exchange.

The following categories of financial instruments are available:

• Spot.
• P2P.
• Derivatives.
• Earn.
• Margin Trading.
• DeFi.

KuCoin supports 42 fiat currencies. Deposit to the balance of the trading account and withdraw money from it is possible on the debit card. Technical support KuCoin is working 24/7. Its employees answer only in English. In total, the platform has 18 localizations.

Huobi

One of the oldest cryptocurrency trading platforms. Huobi was created by blockchain pioneer Leon Li in 2013. At first, the platform worked only within the Chinese market. In 2017, with the introduction of bans on digital assets in China, Huobi became an international platform. After 5 years, the company is headquartered at its place of incorporation – in Singapore. The corporation has offices in several countries in Asia and Europe.

As of 2022, Huobi operates without licenses from regulators. But the management complies with the requirements of AML/CTF. Huobi customers can use the exchange only after confirming their identity.

In 2018, HT, the Huobi Token, was introduced. This exchange cryptocurrency runs on the Etherium blockchain using the ERC-20 standard. HT holders receive a 50 percent discount on fees.

Two APIs (software tools) for automated trading are available to Huobi clients: WebSocket and REST. In the cryptocurrency community they are generally considered advanced software. This is due to the ability to personalize the actions of robots or advisors and create up to 20 keys per 1 person.

Users have access to:

• Exchanges on the spot.
• Derivatives.
• Earn.
• Margin Trading.
• OTC.
• Crypto-purse.
• Mining and stacking.
• DEX.

Huobi supports transactions in 19 fiat currencies. Huobi technical support is available 24/7.

Employees of the service answer users only in Chinese and English. Deposits and withdrawals via debit cards are also supported.

Huobi developers have also created an application for customers that is compatible with the following operating systems:

• Windows.
• iOS.
• Android.

Gate.io

Gate.io exchange was created in 2017 by the developers of the now closed crypto platform Bter. The latter ended its activity due to the introduction of restrictions on coins and tokens in China, where it was originally registered.

According to some information, as of 2022, cryptocurrency trading platform Gate.io officially operates under the jurisdiction of the Cayman Islands. However, the site’s activities remain unlicensed. Despite this, Gate.io users trust the intermediary because of its high liquidity.

In 2019, Gate.io developers conducted an IEO (initial exchange offering) for their own cryptocurrency, GT. The coin became a native altcoin in the GateChain network. Later, the creators of Gate.io gave customers access to GT stacking using the Proof-of-Stake (PoS) consensus algorithm.

On Gate.io, identity verification is optional. Confirming personal information only allows for a one-time increase in the base withdrawal limit. Without verification, customers of the crypto site can withdraw assets up to $1000 per day.

Gate.io offers users a number of digital tools:

• Exchanges on the spot.
• Margin trading.
• Cloud mining.
• Derivatives.
• Instruments from the DeFi sector.
• Tokensales (IEO).

Gate.io has 24/7 technical support only in English and Chinese. You can ask the managers questions via tickets or email. Also the crypto platform supports 47 national currencies. Deposits to Gate.io can be made by bank cards. Withdrawals are available only through cryptocurrencies. However, Gate.io provides customers with a P2P exchanger, which increases the possibilities for cashing out.

Bitfinex

The crypto exchange was created by Rafael Nicol of the management company iFinex Inc. in 2012. The corporation is headquartered in Hong Kong. Officially iFinex is registered in the Virgin Islands (UK territory). However, Bitfinex activities are not controlled by the local financial regulator BVI FSC.

In 2019, Bitfinex launched the LEO service token. It was created by developers to raise additional funding. LEO allows holders to reduce crypto-to-crypto and crypto-to-stablecoin fees by 15%. LEO’s hold also reduces crypto-fiat transaction fees to 0.06%.

At the beginning of 2022, Bitfinex has its own payment system. The crypto-exchange also provides clients with:

• Spot trading.
• OTC.
• Lending.
• Stacking.
• Lending.
• Derivatives.

In order to trade cryptocurrency on Bitfinex, it is not necessary to undergo identity verification. You only need to confirm your email to use the exchange’s basic services.

However, there are 4 levels of accounts on Bitfinex:

• “Basic”. You have to confirm the e-mail.
• “Basic Plus”. Requires passport and biometrics (face only).
• “Intermediate”. Needs to provide a second ID and a document that confirms address of residence.
• “Full.” Must send a scan of a bank statement.

Only accounts of the fourth level have access to all Bitfinex functions. After receiving the status “Full” clients can operate bank transfers.

A mobile app is available to Bitfinex users. It is supported by Android/iOS smartphones/tablets. The Bitfinex app can be downloaded through Google Play and AppStore.

The interface is translated into 6 languages. The 24/7 tech support service only communicates with users in English. It is possible to cash out and replenish the balance on Bitfinex by debit card and other methods.