In The Cryptocurrency space, trading is a major activity. Traders apply vast technical and fundamental analysis coupled with research to ascertain the market direction and which asset to trade.

Trading and other cryptocurrency-related activities cannot be possible without a safe and easy-to-use cryptocurrency trading platform and exchanges.

What are the best cryptocurrency trading platforms and which are ranked as top exchanges?

In this article, we will find answers to the above questions.

What Is A Cryptocurrency Trading Platform?

A cryptocurrency trading platform is a well-developed platform that enables users to buy and sell cryptocurrency coins and tokens. A cryptocurrency trading platform facilitates activities like transfer, withdrawal, exchange, conversion, buying and selling of cryptocurrency, etc.

A cryptocurrency trading platform is designed as an application that is installed on a mobile device that users can access by opening an account and then own their login details and keys.

A good cryptocurrency trading platform should be safe, usable, fast, and trusted by clients.

Some Cryptocurrency platforms are well known for their unique features and as such can be rated as the top in the cryptocurrency space. Some of the well-known cryptocurrency trading platforms include Binance, Kucoin, Kraken, FTX, etc.

Let us consider these top-rated Cryptocurrency Trading Platforms in 2022 as rated by Coinmarketcap.com.

Best Cryptocurrency Trading Platforms in the world.

According to a coinmarketcap.com review, the following are best Rated exchanges in the world in 2022:

1. Binance Trading Platform

The Binance Trading platform is undoubtedly the world’s largest trading platform globally. It is not a surprise that it is in first place in the coinmarketcap.com ranking.

Binance trading platform facilitates the exchange of over 500 coins and tokens including Bitcoin Ethereum, and the Binance Token known as BNB.

Binance is a user-friendly centralized exchange and supports trading at a very low fee. A user can trade futures, spots, peer to peer.

According to coinmarketcap.com, these are notable figures of finance:

The exchange score is 9.9, the volume is 24,674,420,435, the liquidity is 793, the market size is 1652, coins are 395.

Below are some notable features of the Binance trading platform:

•  QR Scan Code: In cases where a user lost login details and keys, he can easily access his Binance account by scanning the QR code scanner.
• Security Features: Binance introduced mandatory Verification (KYC) for all users to end secure transactions on Binance. Customers who are not verified cannot transact fully on the Binance platform. Users who violate security guidelines are banned from using the Binance app.
• Customization Features: A trader can customize his home page based on choice. This feature makes it easier for traders to navigate through.
• Lite And Pro Version: The lite version is much more beginner-friendly and less advanced and as such is easier to use. While the pro version is for professional use and contains more advanced tools. A user can easily change from pro to lite and vice versa.
• Transaction Details: This feature makes the Binance platform transparent. All transaction details are sent to users, to help them keep records of their transactions within a period.  It also gives awareness to a user if there is any suspicious transaction on the user’s wallet.
• Support team: Binance provides a support that do resolves issues faced by a  client. This support team is available 24/7. If a user has a complaint about any issues on the app, he should complain to the support team.
• Binance Pay: A user can easily make a Direct and instant payment. This can reduce the fee of transactions.
• Price widget: The price widget serves as a price tracker. When you want to quickly access. The price of your Trading pair add them to the widget page and you can track the price without opening the app.
• Referral packages:  The Binance platform allows users to refer others and earn if they register and trade on the Binance platform.
• Binance Tax Reporting Tool: The Binance Tax Reporting Tool helps in reporting crypto tax accurately. An API tool that helps users Binance to keep track of their crypto assets. This is only available to the Binance platform.
• Binance Earn: This is a way of earning passive income when using the Binance platform. When holding a coin a user can stake them for interest.
• Whitelist Address: This is a security measure that prevents phishing and hacking. With the Binance  Whitelist Address, a user only allows a specific withdrawal address.

2. Coinbase Exchange

These a the top two ranked on coinmarketcap.com. the coinbase Exchange is an efficient, accessible, transparent, and safe exchange that enables users to buy and sell cryptocurrency, It is fast, easy, and user friendly.

The coinbase Exchange has approximately 89m verified users around the world, over a hundred countries, and over a hundred coins and tokens listed.

According to coin market cap, the following are figures in rank:  The exchange score is 8.3, the volume is $3,395,537,708, the liquidity is 700, the market size is 503, coins are 169.

Some of the notable features of the coin-based trading platform:’

• Security: The coinbase trading platform practice high security to keep users’ assets safe. It stores a large number of assets in a cold wallet, it uses bank standard encryption and all users must use two-factor authentication to safeguard their assets.
• A large Number Of Cryptocurrencies: A large number of cryptocurrencies are available to users of the trading platform. They have listed hundreds of coins for easy access to users.
• Earn Passive income: With the coinbase earn features users can earn interest and a small amount of newly listed currencies
• Coinbase pro: Users can switch to coinbase pro which has more features and is cheap to transact on. It gives traders access to more advanced features.
• Account Management: Users can monitor and manage their accounts in their location. Funds and assets from their location.

3. FTX Trading Platform.

FTX is a Trading platform that is built for an easy trading Experience. FTX was founded in 2019 by cryptocurrency enthusiast Sam Bankman-Fred.

According to coinmarketcap.com the following are figures of FTX:

The exchange score is 8.2, the volume is $1,978,570,808, the liquidity is 725, the market size is 322, and the coins are 322.

The FTX trading platform is in the top 3 in the coinmarketcsp.com rank and it possesses  the following unique features:

• Futures Features: The FTX futures supports up to 101 leverage, it has also listed upcoming cryptocurrency tokens with a low market cap that futures traders can leverage on. It targets low cap gems that other cryptocurrency Platforms do not support and allow unique traders to trade on these coins. It also supports perpetual futures.
• Options:It is a feature that makes it not compulsory for contract holders to purchase an asset on expiry.  Only Bitcoin options are supported by FTX. Once an offer is available, a trader either accepts or rejects it.
• Leverage Token It is a unique feature on the FTX trading platform, they are:
  • BULL is +3×
  • BEAR is – 13×
  • HEDGE is – 1×
  • HALF is +0.50×
• Move ContractL It represents the amount that an asset is moved in a set period. Traders can either open a long position or a short position. They are offered either daily, weekly or quarterly.
• Spot market: Nearly 70 cryptocurrencies are traded on FTX sports.
• Prediction Market: The FTX trading platform provides betting features. Traders can place a bet on live assets, they can either lose or win.
• FTX OTC Desk: It is an over-the-counter exchange for digital products provided by the FTX. Trading platform. This is for investors who want to invest in digital assets.

4. Kraken Trading platform.

The Kraken Trading platform is a trading platform that is highly beginner-friendly for cryptocurrency exchange. It is easy to use and transparent. Kraken support both digital assets trade and fiat currency.  It is in the top 4 on the coinmarketcap.com rank.

According to coinmarketcap.com, these are the figure ranks:

The exchange is 7.9, the volume is $949,486,269, the liquidity is 726, the market size is 490, coins are 142.

Below are the notable features of the Kraken Trading platform:

• Security: The Kraken Trading platform is secure and safe for users. It has world-class security experts that are working hard to secure the Kraken Trading platform from hackers.
• Buying And Selling Of Assets: The Kraken Trading platform is safe and easy to buy and sell assets. It has flexible exchange features for its users. Users can buy and sell a wide range of assets crypto assets listed on the Kraken trading platform.
• Low Fees: It overs 0% trading fees on transactions, users are rewarded on every transaction.
• The Counter services: Users can perform high trade over-the-counter services provided by the Kraken Trading platform without disrupting the market.

5. Kucoin Trading platform.

Kucoin is a large cryptocurrency trading platform that allows users to buy, sell, stake, and exchange cryptocurrency.

Kuching offers users the opportunity to trade margin, futures, spot, and peer-to-peer. It offers users the opportunity to earn rewards while trading, and low transaction fees.

According to the coinmarketcap.com figures, the following are Kucoin features:

The exchange score is 7.6, the volume is $2,808,038,637, the liquidity is 571, the market size is 1201, coins are 619.

The Kucoin Trading platform is in the top 5 on the coinmarketcap.com 2022 rank.

The following are features of the Kucoin Trading platform:

• Buy And sell cryptocurrency: Users can buy and sell cryptocurrency faster and easier on the Kucoin Trading platform. It provides a user-friendly interface that even beginners can buy and sell cryptocurrency fast.
• Wide Range Of Cryptocurrency.: Over 600 cryptocurrencies including Bitcoin are listed on the Kucoin Trading platform. It allows users to pick and trade coins and tokens easily.
• Low Fees: Users can pay between 0.0125% & 0.10% per trade. This is relatively cheap as compared to other exchanges.
• Security: The Kucoin Trading platform is highly secured. KYC was Introduced since it suffered a major hack in 2020. Users must complete their verification process before they can transact on the Kucoin Trading platform.

Read; How To Exchange Crypto For Cash

Conclusion

The aforementioned trading platforms above are top 5 of the coinmarketcap.com rank of 2022. 

Cryptocurrency traders should remember to always trade with caution as a trading platform does not guarantee a risk-free transaction.

To know other ranked trading platforms visit www.coinmarketcap.com for more information.