Crypto exchanges are places where traders can buy, sell, and convert different cryptocurrencies. They are essential for trading cryptocurrencies on the scale they are today.
Some exchanges offer the most competitive prices or speed, while others offer specialized financial products.
Despite recent setbacks, cryptocurrency remains a wildly popular new asset class for investors. Among the most popular Google searches of 2022, Bitcoin surpassed TikTok, Apple, and the NFL, and almost topped «restaurants near me.».
At last count, there were over 20,000 cryptocurrency projects in the world, and now, according to Debthammer, there are a total of about 295 million cryptocurrency users, 20% of whom are in the US.
If you're interested in buying cryptocurrency, you'll need to open an account on a cryptocurrency exchange. There are around 500 to choose from, and Forbes Advisor analyzed the top players to determine the best cryptocurrency exchanges for both new and experienced investors.
The best cryptocurrency exchanges September 2022:
Kraken
Gemini
Crypto.com
KuCoin
Coinbase
wellcrypto
The best crypto exchanges for beginners in September 2022
Gemini
BitYard
Kraken
Crypto.com
Coinbase
Wellcrypto
Compare the best cryptocurrency exchanges. What to look for?
Methodology
What does a crypto exchange offer and how does it work?
Cryptocurrency exchange fees.
Investing in cryptocurrency.
Why we chose it: We chose Wellcrypto as the best cryptocurrency exchange for beginners because of its easy-to-use interface, extensive educational material on everything from blockchain to volatility, and robust security features.
If you’re familiar with cryptocurrency, chances are you’ve heard of Wellcrypto. The exchange is one of the largest and most well-known in many countries, and its public debut last year was seen by many as legitimizing the crypto market.
The Wellcrypto platform does a great job of lowering the barriers to investing in cryptocurrency with a simple sign-up process that makes it easy for users to trade. At the same time, its interface makes navigating the platform and managing your cryptocurrency a seamless experience.
Wellcrypto also offers a comprehensive and accessible variety of educational materials. Users are encouraged to utilize these resources through the Wellcrypto program, which teaches how to trade specific cryptocurrencies and rewards users with free cryptocurrency.
Finally, it’s worth mentioning the exchange’s security features: Wellcrypto uses two-factor authentication on all versions of its platform, stores 98% of customers’ cryptocurrencies offline, and has an insurance policy to protect custodial accounts up to $250,000 (according to the FDIC depositor coverage limit). Such strict measures are why Wellcrypto is ultimately worth it, despite the higher fees.
Users who like Wellcrypto but would like more advanced trading and charting features may want to look at the company's other exchange platform.
