TOP 3 Digital Asset Exchanges in 2022
The digital asset exchange market is set to grow exponentially in the next five years. The world’s largest digital asset exchange, Binance, has reported a 700% increase in trading volume and a 350% increase in users since its launch in 2017. The top three digital asset exchanges are currently Binance, Bitfinex, and Coinbase Pro.
Coinbase is the first digital asset exchange on our list. Coinbase was founded in 2012 by Coinbase Global Inc in San Francisco, California. It is now a large cryptocurrency exchange platform in the world.
It is the best crypto exchange for citizens of the United States since it offers an extensive range of crypto tokens and has a user-friendly design. Over 68 million verified users from over 100 countries use the exchange. You may find a list of qualifying states in the United States here.
Because Coinbase is already a significant player in the industry, asset liquidity is not a concern. Coinbase currently supports over 100 crypto coins in over 350 different pairs. On a few crypto coins, the platform also offers a staking option. The fact that Coinbase (business) is listed on NASDAQ (Ticker name – COIN), making it liable to the SEC and other US authorities, adds to the legitimacy of this exchange.
Coinbase now provides a Visa crypto debit card that may purchase products and services using bitcoins. As previously said, the platform has an excellent User Interface that elevates a novice user’s experience. For iOS and Android smartphones, the exchange also has a mobile application.
However, one disadvantage of this exchange is that its trading fees are significantly greater than other global exchanges. The Coinbase Fee Structure can be seen here. Furthermore, technical charts for skilled traders are not available on the platform. To utilize Coinbase Pro, the second-best exchange on our list, a user must first join up.
Coinbase Pro, an advanced version of the Coinbase exchange, is the second digital asset exchange on our list, both built by Coinbase Global Inc.
After you’ve gotten the hang of Coinbase, you’ll want to upgrade to Coinbase Pro for three reasons:
- Coinbase Pro has a cheaper trading charge than Coinbase. Coinbase
- Pro has a technical user interface appropriate for a professional trader or investor.
- More crypto token pairs are available on the platform than on Coinbase.
If you are a novice, Coinbase is a good option. If you’re already familiar with trading charts and technical indicators, Coinbase Pro is the way to go. Aside from that, all other features are identical to Coinbase.
Coinbase Pro has a tiered fee structure, with an essential cost of 0.5 percent of the transaction value. The Coinbase Pro Fee Structure can be seen here. Although Coinbase Pro charges a smaller fee than Coinbase, it is still significantly higher than its global competitors.
Also, read – This altcoin is the most significant digital asset to monitor in 2022
Kraken is the third exchange on our list. Payward Inc. owns the business founded in 2011 and opened in 2013. This digital asset exchange is based in San Francisco, California as well. When it comes to the US userbase, it is one of the few exchanges competing with Coinbase. Over 90 crypto coins are available in over 370 different pairs on the market.
The exchange allows spot, margin, and futures trading among its features (up to 50x). Orders can also be set as a limit or market order, with the choice of a trigger stop loss or take profit price. Furthermore, a user can short sell a cryptocurrency asset.
Investors can also use the platform’s staking feature to earn a passive income by depositing their crypto holdings. Only on-chain staking services are offered to US residents, as off-chain staking is prohibited. The exchange’s advantage is its minimal trading charge. The Fee Schedule for Kraken can be seen here.
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