Best Cryptocurrency Apps and Exchanges for August 2022

According to Forbes, it was reported that there are nearly 600 cryptocurrency exchanges worldwide both the recent fall and bankruptcies of certain exchanges like Celsius and Voyager which made an executive order to disable withdrawals.

The question now is, what exchanges can we trust and who is the best now within this industry? So in this article, I'll be going over my top six crypto trading apps and go over the pros as well as the cons of each of them.

To give you a better idea of which crypto exchange you can trust to use over the long-term run, so you don't have to worry about your money getting locked up. Because trading cryptocurrency or crypto assets with a safe platform is really an important thing.

Now to make this article is a little bit long. I'll also be giving each exchange my very own junk score to rate them based on security user interface fees and available coins that you have access to investigate.

#1. Number

Alright, so FTX I believe was the fastest growing cryptocurrency exchange that popped up during this bear market and for the year 2022. Now this exchange offers a lot more tools They even offer margin and futures trading, which I don't often recommend for many new beginners to get started with.

I will say for FTX is my current primary exchange. From my research and using all of the ones that I've mentioned in this article I have accounts with all of them. I've been using them all for a while I just decided to use FTX because of what they're doing their security is great, and they're still becoming one of the top exchanges to this day. 

Taking a look at the numbers According to data provided by Keiko's research app FTX's market share of Bitcoin volume went from 4% in 2021 to now over 24% in just 2022. Since then FTX has officially surpassed Coinbase in Bitcoin volume traded as of May this year.

And it was founded by Sam Bateman freed who has been known to be a really good philanthropist, someone who's been contributing a lot to the crypto space, and just an overall good person from what I've heard within this space.

In terms of security, credibility, the credentials, FTX offers industry-standard security features. It is a top centralized crypto exchange, and it was valued at over $18 billion with huge partnerships. They had a Superbowl ad, they also had the Steph Curry partnership, and FTX was really just in a lot of different places all over the United States. 

So over the last few years, FTX has been known to have some great acquisitions within the space, one of them was acquiring block folio They then transitioned that into their native app, and they also acquired ledger X liquid global bid to exchange. And there are also some rumors that they're looking into picking up even Robin Hood or public.com or weeble, which are some of the more larger stock trading platforms to exist.

Best cryptocurrency exchanges of 2022

What this shows is that FTX is known for a lot of market liquidity. And they also have a ton of different offerings, including NFT exchange marketplaces. And they also just have a lot of community involvement. If you use FTX. They even had a time where you had access to go watch the Formula One racing happening in Miami as well.

On top of that, the latest rumor was a deal where they might possibly acquire block fi to add it to their portfolio. And I do think FTX is just going to be one of those superpower exchanges where you don't have to worry about security, they've shown this faster, you don't need to be in a bull market to dominate the exchange space.

And they've just been consistent and good with their customers and just leading the way. Now in terms of the cons. I personally had some issues with depositing my money, I had trouble trying to link my Ach so I had to wire my money. When I did the wire Though I will say that was the smoothest way for me to deposit liquidity into their app. 

So there was a way around there. I will also say that they have been known to have a lack of customer service with no live chat option either. But it is worth noting that many of the crypto exchanges right now aren't really optimized for the best customer service. I think this is something that will come as time goes on. 

These are all my own experiences. So make sure that you guys have a chance of using these different exchanges and know what is best for yourself as well. Depending on where you live, what type of Kryptos you'd like to trade or even the user interface or even maybe some of the app colors that you may prefer or you don't like.

It may sway your decision to move from one exchange to another in terms of the junk score with security, I would give FTX a 4.5 out of five in terms of their user interface, I would give them a four out of five in terms of their fees, I will give them a five out of five and in terms of the coins that they have available for the offer I will give them a four out of five as well.

#2. Number

So Coinbase is a well-known crypto exchange, I'm sure most of you guys heard about it, they crushed it in the first bull market run that we had. And even right now they've been very, very consistent too. So Coinbase was founded back in 2012, just as a place to send and receive Bitcoin. 

And they have since then grown to support over 100 all coins on their platform and have more than 2000 employees worldwide. Now we're talking about the best beginner exchange or something that someone is trying to get into, I would say Coinbase is the top dog on this just because they allow it to be so easy. 

They have good relationships with a lot of the banks. If you have someone like a loved one or a family member or you're trying to get like your significant other into crypto, chances are Coinbase is probably what you would recommend to them. Just because it is so simple to use. 

Now Coinbase has grown to be one of the largest crypto exchanges in the world with over 73 million users, which is insane, and they have $255 billion in assets on the platform. Coinbase is fully regulated and licensed in most US States, Canada, the UK, and even Europe. 

They have good relationships with the Financial Crimes Enforcement Network, also known as FinCEN, which prevents and punishes money laundering and related financial crimes back in 2021 of April, they were also listed on the NASDAQ public stock exchange, and we're currently it was trading just below the $200 price.

To give you guys the pros I'm pretty much just set it but they do have some of the best user interface and experience for new beginners to get started now before they also had Coinbase pro where you could use this without having to pay a lot of those transaction fees, which is one of the downsides. 

But recently, they're trying to put everything into one umbrella category. They're trying to make it less confusing for others and they're still trying to offer people the advanced level trading and charting features with lower fees. I think it's good to see Coinbase navigating these markets.

I will say though, that I think they went a little crazy with their marketing. They did get a lot of users coming in, they did a good job. But right now we're getting more reports that they're laying off a lot more of their staff some of the downsides, I would say which maybe doesn't necessarily affect us directly, but it's worth knowing a lot of their employees when they got fired. 

They got fired from the company in pretty aggressive ways. It was reported that a lot of them would just log in with no word that they were fired and they just got locked out of their email account and realize, okay, they're out and they're not going to get paid anymore.

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I do understand within a recession and a bear market a company has got to do what a company's got to do to survive, but it's never a good story to hear from companies just laying off their employees the way that Coinbase was reported to do now if you can ignore that Coinbase does still have a lot of advantages.

They have high-level liquidity they have high security since they are a publicly traded company. One of my favorite features as well as being able to use a two-factor authentication key. Most exchanges allow you to do this, but Coinbase was one of the first where you can get something called like a UB key.

Where if you want to use your exchange, you want to log in, instead of possibly getting a sim swapped using your phone and two-factor authentication, use a physical key in order to sign in. Now in terms of my junk score security, I would give them a 4.5 out of five in terms of the user interface.

I'll give them a five out of five right there for fees and not the best not the worst, but you know I have been wrecked personally by the coin base fees back when I was a newbie and a beginner within the space so I'm gonna knock them and extra junk score for that and give them a two out of five on those fees.

On top of that the available coins it's not the best you know, they have a little bit more wide variety than some of the other ones we talked about, but not crazy good for that I would give them about a 3.5 out of five on the Junk score.

#3. Number 

So the global Binance platform was launched back in 2017 by the financial software developer that a lot of people know within the space known as Changpeng Zhao, let's just say "CZ", so in 2019, the company went ahead and shut down access to us users assisting regulatory concerns that were coming out with more regulations. 

Shortly after that Binance announced their US partnership with BAM trading services which launched the Binance at us chain if you're ever confused by the two Binance.com is technically a separate company compared to Binance.us and they are two different services now Binance.us doesn't offer the most amount of coins, they offer only 60 compared to even what coo coin had offered. 

But the reason why I placed them a bit higher on this list is just because of security. So who is this platform at best serve for? Well, I believe that Binance.us can appeal to both beginner and advanced level traders within the Binance platform, they do have some advanced level features that may be better suited for those experienced traders.

But there are still plenty of available educational resources that allow newer newbies to get into the market on top of that if you aren't really into trading futures or you don't have the risk profile for using margin Binance.us could be a great option if you value low trading fees over user-friendliness.

Now going into the pros of Binance.us. So one of the most appealing features of Binance.us is its low trading fees while competitors have trading fees starting at 0.5%. Maker taker fees on by Nance at US range from anywhere to literally 0% to 0.01% and incent by fees are anywhere from around 0.5%. 

They also give a benefit where if users are holding that BNC or the Binance token, they also get a .25% Discount trading fee we talked about this earlier, but Binance.us offers a pretty solid educational resource system. And they call this the Binance Academy with videos and articles available for traders at all levels to get better acclimated to the market that will say Binance.us does have a bit more cons too.

Now while Binance is a global platform that offers hundreds of available cryptocurrencies and is still one of the top crypto exchanges in terms of liquidity volume of security, and just you know, being reputable within the space Binance.us offers only just 60 cryptocurrencies and it's still not available to users in Hawaii, Idaho, New York, Texas, and Vermont. 

Now in terms of my junk score, in terms of security, I think Binance is actually one of the top just because they are still associated with their parent company, I would give them a 4.5 out of five in terms of the user interface, I would give them a 3.5 out of five. And in terms of fees, I would give them a four out of five. 

And in terms of the available coins, it's just they don't have a good listing. So I will give that even a 2.5 out of five on the junk score, I think Binance.us is great for anyone who has available access to it. I do also know that Binance.us recently raised a strong round, so they're getting the funding.

They're going to start up their marketing, they are going to get more users in there, and hopefully, bring out some even better features to their app. And this is just going to be overall one of those consistent exchanges that still have a good reputation within the space.

#4. Number 

The KUCOIN was first launched in 2017 and they are headquartered in ESSA Chile's since its founding, it's grown to be one of the largest global exchanges by trade volume as both a web and a mobile app version. So who is KUCOIN best meant for it? Well, if you are an international user of KUCOIN may be better for you. 

Or if you are more of an experienced trader where you want to invest in a variety of different altcoins KUCOIN usually has the all coin that you're unable to find on different exchanges. This means if you're trying to play around with some of the micro caps or small caps going for a lot of high-risk, high-reward opportunities, this would be the exchange for you in terms of their credentials and their credibility. 

They have over 10 million users in more than 200 different countries. Now over the past few weeks, we even did get some more that KUCOIN might be insolvent and that they had a lot more all coins that they could have prepared for the bear market.

But it looks like even a lot of those rumors were false back in May KUCOIN did complete a $150 million fundraising round with a $10 billion valuation during the summer. 

After the collapse of Terra Luna, many investors were scared and they knew that KUCOIN which has a lot of the smaller all coins might be at risk it seems like a lot of that FUD was shut down and they've been operating well ever since. 

Now, if you are still a little bit more hesitant just on this platform know that KUCOIN did receive a 10 out of 10 rating on coin Gecko for their trust score in terms of their cybersecurity, their team, their incident, their scale their liquidity and just being a more stable platform. 

Now a quick rundown of the pros with KUCOIN you can find your ability to earn interest on crypto is staking pretty widespread, they have a ton of different promotions and products and they oftentimes come with a little notification or deal where you can earn like crazy API on certain coins to now that was favorable during the bull market. 

In a bear market, it's a bit riskier because you don't want your money locked up. But I will say if you are looking to expand your offering and you know a certain project is gonna go to the moon and it's not readily available and you want to earn interest. Oftentimes KUCOIN has that available for you.

KUCOIN also has access to over 600 Different coins and on top of that, they have pretty considerably lower fees compared to most major exchanges where it's between point 0.0125% And point 0.10% per trade.

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I do like the security benefits they offer on the front end where you can create a separate password for trading apart from the login password that adds that additional layer to you.

Now miss those pros I do need to mention there are still some cons like there are with anything where a KUCOIN is not officially licensed in the US. So if you are trying to access them and you live in the States, you would need to use something like a VPN or you would need to live outside the US in order to have access to this exchange. 

This does pose a risk where if US regulators decided to crack down on coo coin, you might not be able to withdraw your assets on top of that KUCOIN is not known to have the best customer service in the world. Now, although their security is solid, they still were hacked in 2020 for over $280 million in assets.

If there's an altcoin that you really want to buy, but you can't find it anywhere else, then this is what you would use. If I were to give this my junk score in terms of security, I would give them a four out of five for the user interface, I would give them about a 2.5 Maybe like a 2.7 out of five on the junk score just because their fonts, their colors is not the most attractive. 

It's not the most user-friendly app, but it gets the job done in terms of its fees. It's not terrible, but it's not great. We're gonna give them a four out of five now where they do get a five out of five though is the available coins. You can buy pretty much any coin with KUCOIN. 

And it's much better than either trading on a decentralized exchange or using a completely unknown exchange that you never heard about, like one of the sketchy ones. I've had to do that before. And then I would always look at KUCOIN first to see if they offered it if I was trying to buy a project that no one heard about.

#5. Number 

The fifth crypto exchange on this list, this is going to be Gemini. So Gemini was founded in New York back in 2014 by the Winklevoss brothers. Gemini offers about 80 different coins that you can choose to buy trade and sell on their platform. I believe Gemini is perfect for anyone who values security at its highest level.

And it also provided a good experience for both novice and experienced traders as well if you're looking to earn some yield they also have an interest-earning API on their stablecoin which is the Gemini US dollar now I know through this past year we've had certain stablecoins completely losing their peg losing their value cough cough Terra Luna.

But I will say Gemini dollar is something that I've always been very confident in stated on their website G USD is audited on a monthly basis by BPM, a private and independent accounting firm that ensures there's a parity between the amount of USD in reserve and the amount of G USD in circulation. 

Now while Gemini stablecoin sounds good, how is the security and the credentials of this entire exchange in general? Well, I will say it looks pretty good. Gemini is one of the few crypto exchanges that has been completely regulated by the US and they're licensed and available in all 50 US states Gemini recently became the first sock to be certified crypto exchange in the industry. 

The sock two examinations are given by third-party auditors, and it assesses a product or company's level of security and compliance. This exchange here also offers FDIC insurance for US dollar deposits up to $250,000, and digital asset insurance for funds held in its hot wallet. 

Now, just a quick rundown of the pros and cons. Let's start with the pros. Arguably, this is still the most secure crypto exchange, in my opinion, they have a track record of never getting hacked, and they've just been well known within the space to be pretty consistent with their customers. 

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On top of that Gemini also has a unique product, they have a Gemini credit card where you can also earn rewards in crypto and pay for everyday purchases with crypto as well. Now they did offer an API yield of 8.05%. In interest during the bull market, this is always subject to change, but they still have been offering a pretty competitive amount. And just knowing that G USD is still pretty secure.

I think within a bear market if you're trying to earn a little bit of yield or fight that inflation, they give you a good option to do that as well. Gemini also has something interesting, they have something called Hot wallet insurance where if a user's fund is stored in the Gemini hot wallet or ever gone or you know, hacked in the event of any type of security breach, they would go ahead and cover that as well.

Now all that is pretty good. I think they make up a lot of good characteristics. But I will say some of the cons that I brought up a little bit lower on this list is just the fact that they are a smaller exchange, they have smaller lists of coins to offer and they don't offer all the ones that you may want to buy. 

On top of that Gemini has also been known to have a bit higher trading fees, especially if you're into trading small amounts of crypto Gemini is still mainly used within the US they're not a global exchange. And compared to some of the other much larger cryptocurrency platforms do you think they have the disadvantage of being small?

But that can also be advantageous too. Now in terms of the junk score with security, I would give them about a 4.5 out of five with their user interface, and I would give them about a four out of five to it's pretty solid. I've never had any issues using them on top of their fees, I will give them a three out of five still up there and in terms of available coins, I would give them about a two out of five on the scale.

#6. Number 

So crypto.com was founded in 2016 in Hong Kong and is currently headquartered in Singapore. This exchange here has a ton of features making the app suitable for both beginners and some advanced-level traders as well. crypto.com has a pretty good selection, they have 180 coins to choose from.

And they're also in sponsorships and partnerships with a lot of the greatest companies out there, including the World Cup, the UFC, Formula One PSG soccer team, the Philly NBA team, and even the LA Kings. For those who are looking for one single platform that offers it all including staking trading, farming loans, and interest accounts, have it all set in terms of the pros and the advantages. 

They work with local banks in the US to provide a $250,000 and FDIC insurance on that USD balance. They also have a defi wallet where you have full control over your private keys. And on top of that crypto.com has its own Native coin called Cronos. Or CRO which is also a steak roll for about 6%. They did recently reduce it for the year 2022.

But you're still able to earn a bit of yield if you choose to go for their coin. Now the reason why people do decide to stake their crypto with them and buy into the CRO token is not just because that token was having a pretty strong movement during the previous Bull Run. But it's also because you get access to a metal crypto-linked Visa debit card. 

And in their most recent update, which happened a few months back, a lot of users were pissed, they were not happy. And that is because they went ahead and reduced a lot of the yield earning benefits and some of the cashback that you can earn. Now I will say regardless, even though they have reduced it, many people still find value in using their Visa debit card just because it offers a lot of unique benefits such as having a free Amazon Prime membership, reading Netflix, or Spotify. 

And you also get a variety of different partnerships or even some air lounge accesses as well. Now, although all of this does sound good, the reason why they're number six on my list is that of some of the cons that I'm going to mention, even with crypto.com having its own token.

Some people actually see that as a negative just because it ties in with a crypto coin where if it goes down in value, could this exchange also collapse too, there's a question on whether or not they would ever come out with an exchange that is available to use on desktop or websites. Because crypto.com is still only a mobile version. And you cannot use this on your computer even to this moment. 

On top of that a lot of people these days are looking for a crypto exchange that offers to trade for the least amount of fees. crypto.com still has some pretty high fees compared to the other ones that we're going to talk about in this article. And users with a significant holding of CRO do get discounts on their trading. 

But keep in mind if you do buy CRO and the market value of that goes down, it may not ever equate to a solid amount of ROI back on your investment. On top of that crypto.com has also had some questionable customer support. In order to have access to someone, you're not going to be talking to someone on the phone.

Instead, you chat with someone and you oftentimes need to wait for them to respond back to you getting in contact with someone on their team might be a little bit harder on top of that crypto.com has gone crazy with their marketing and some people are questioning the longevity of this exchange just because it seems like they liquidated a lot of their funds over the past year.

Regardless, for me. I've been using crypto.com for as long as I've been invested in crypto. They were actually the first crypto exchange that I started with just because back when I was looking on the app store when I was in community college are the ones that popped up. 

Yeah, my app has been slow sometimes Yeah, I wish I could use it on my computer, they had access to a lot of different altcoins I was able to make a lot of money still using their app and I was still able to find a ton of benefits with this exchange. Now in terms of my Jong score in terms of security, I would give crypto.com about a 3.5 out of five.

One of the features that I really like about them is their anti-phishing code and they also some people might not like this but I actually do like this. If you are trying to withdraw your funds, you do need to whitelist your account you got to do a KYC you got to make sure that it is you in terms of the user interface, I would give this about a four out of five. 

The reason for this is it is easy to use, they have a lot of buttons, but in terms of navigating it on your phone, it's pretty straightforward. Now the fees, I will give them a three out of five, just because crypto.com isn't known to have the lowest fees within the market. But this is just to be expected.

And I still think a lot of the benefits of this app outweigh even that con now in terms of the available coins, I would give them a four out of five on the junk score. And that's just because they still have a solid variety, you're not completely limited and you do have an option of touching into some of the other coins that you may not be able to on different platforms and exchanges.

These are my top 6 Best Crypto Exchanges and feel free to do your own research before open an account on those platforms.