Cryptocurrencies were introduced as digital currencies immune to double-spending. However, you would think twice before paying for your groceries or rent in cryptocurrencies because of their high volatility. The value of cryptocurrencies is often measured against fiat currencies. For example, BTC is worth 21,792.00 USD and ETH, on the other hand, is 1,168.22 USD.
For this reason, it is important to find a platform that offers good exchange rates for buying or selling cryptocurrencies. In this article, you’ll go through the top five platforms with the best exchange rates.
Top 5 platforms with the best crypto exchange rates
- AQRU
- Binance
- eToro
- Crypto.com
- Kraken
A closer look: 5 platforms with the best crypto exchange rates
AQRU
Spotlight WireIn the midst of multiple crypto exchanges, AQRU comes across as a strong and reliable crypto exchange which offers one of the best rates in the market. Notably, AQRU features institutional exchange rates. This essentially means that the platform gives you fine rates without any padding. You can buy cryptocurrencies from AQRU at the same rate AQRU gets them from providers. The feature can make a considerable difference in your profit if you are a regular crypto trader or investor. Furthermore, AQRU has a low fee structure, which makes crypto trading more affordable and accessible. Let’s take a detailed look at AQRU and its core features.
Transparent fee structure
On AQRU, you can trade cryptocurrencies for (almost) free. The platform charges no fees on buying cryptocurrencies like BTC, ETH, and USDC when investing into one of their interest accounts. Instead, a single 0.35% commission is added to each exchange transaction between currencies. This is significantly lower when compared to other players in the market. The fee structure is not tier-based, either. Regardless of the trading volume, the same commission is applied to all trades. There are no hidden fees involved.
Free deposits and withdrawals
AQRU charges no fees on deposits, with the exception of a small fee on credit card transfers. You can top up your account by crypto transfer, bank transfer, and credit card. Withdrawals are free of cost, too, if done in fiat currency. Crypto withdrawals, however, amount to a flat fee of $10 for Bitcoin, or $20 for other cryptocurrencies. It is also important to note that with AQRU, you can keep balances of any size, paying nothing extra.
Spotlight WireCrypto as a source of passive income
You can add your crypto holdings to AQRU’s interest accounts and generate attractive passive income. Currently, the platform supports BTC, ETH and USDC. It offers up to 7% annual interest on yield accounts. This return will go a long way in fighting the market volatility. Since the majority of interest accounts on AQRU come without fixed lock-in terms, you can withdraw your assets as and when you want to. The rewards are paid daily and tracked to the second.
Multi-layered security system
AQRU has multiple security systems in place to safeguard deposits against hacks and thefts. For example, it uses the latest Multi-Sig technology from Fireblocks for wallet protection. Investments are insured against hacking. Moreover, AQRU is an authorized virtual assets service provider that adheres to financial responsibility standards.
Currently, AQRU supports a limited number of high-volume cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), DAI, Tether (USDT), USD Coin (USDC), Dogecoin (DOGE), and a number of other altcoins. Along with that, it is compatible with fiat currencies like sterling and euro. More variety of currencies is expected on the platform in the coming weeks.
Binance
Spotlight WireBinance is one of the leading crypto exchanges in the world in terms of the user base, user experience, trading pairs, functionalities, and services. It comes as no surprise that Binance offers one of the best crypto exchange rates in the market too. Let’s understand the core features of Binance and how the platform makes a good trading partner.
Affordable fees
Binance is widely popular. Part of it can be explained by the low fee structure of the exchange. While the standard trading fee on Binance is 0.1%, you can get discounts if you choose to trade in BNB. However, all deposits to the platform are free. On the other hand, withdrawals are dynamically calculated. The fee structures also vary for spot trading, margin trading, futures trading, and NFT exchanges.
Good user experience
You can access Binance via mobile or web, depending on your convenience. The platform is designed to suit users of all ages, capital, and technical knowledge. If you’re an experienced trader, you can switch to Binance Pro to use analytical tools and functionalities. Portfolio management is also easy. The simple, intuitive dashboard helps you keep track of your assets, trades, and earnings in a few clicks.
Security measures
Binance safeguards deposits using an advanced security system that includes two-factor authentication (2FA), address whitelisting, and device management. It has also launched a $1 billion insurance fund to protect users from the growing number of exchange hacks.
eToro
Spotlight WireeToro is a beginner-friendly crypto exchange that pioneered social trading and copy trading in the industry. It also features the best crypto exchange rates in the market. The low fees charged on crypto trades add to the cost-efficiency of the platform. Here are the top features of eToro.
Simple, single fees
eToro has a transparent fee structure. It charges a single fee of 1% on crypto purchases and sales, calculated on the market price of the asset in question. The platform gives you a preview of the fee when entering or exiting a position so that you know what you’re getting into.
Social and copy trading
eToro’s social and copy trading lowers the industry’s technical barrier to entry. It allows beginner traders to see the trading strategies of top traders and implement them. Experienced traders, on the other hand, are incentivized to share their trading strategies. The win-win situation has made the platform popular among traders of all shapes and sizes.
Multiple layers of security
eToro also excels in terms of security. For starters, it encourages users to deposit their funds in cold storage. To further help with this, the platform has launched a cold storage Custody as a Service solution. eToro users also have the option to install two-factor authentication (2FA) to mitigate the chances of hacks.
Crypto.com
Spotlight WireCrypto.com is next on the list. It is one of the top platforms that offer excellent exchange rates for cryptocurrencies. The mobile-first platform is widely used by part-time and professional users alike for its discounts, usability, and wide range of crypto-related services. However, most functionalities on Crypto.com are based on the number of CRO tokens — the native currency of the platform — held by a user.
Tier-based discounts
Crypto.com offers a good number of discounts to users. As discussed above, they are tier-based. The fees are generally charged based on the previous trading volume of a user. But you get fee discounts with the CRO tokens in your possession. If you’re investing in CRO, this would sound great. However, if you are an average user, this condition can limit your opportunities on the platform. The exchange also offers a Visa card that promises to give back up to 5% back on all spending.
Crypto.com Earn
Crypto.com comes with a staking platform where you can earn up to 14.5% on your crypto holdings. It offers a great opportunity to generate passive income on more than 40 cryptocurrencies.
Mobile-first platform
When you are a devoted trader, user experience is very important. You need to be able to get a view of your portfolio and the market even when you don’t have a laptop with you. Crypto.com features an excellent mobile application that makes crypto trading appealing to full-time, part-time, and young traders alike.
Kraken
Spotlight WireWe wrap up this list with Kraken, one of the world’s leading crypto exchanges that boast 9M+ users and $207B+ quarterly trading volume. Kraken made our list for the competitive exchange rates it offers on 100+ cryptocurrencies.
Fees and prices
Prices and fees on Kraken vary based on multiple factors including your trading platform, trade, and spread fees. Generally, it charges a 0.9% fee for stablecoins and a 1.5% fee for other crypto or FX pairs.
Trading experience
Kraken has two platforms — Kraken and Kraken Pro. While the first one best suits people who have just entered the market, you would need to switch to Kraken Pro for active trading. It gives detailed information about the listed assets.
Resources
Kraken helps users onboard the industry and break down its complexity by publishing detailed articles and guides. It helps beginners learn about all things crypto.
Conclusion
These are the top five platforms with the best exchange rates and their core features. While all of these platforms
in their own unique ways, AQRU remains the top pick.
First, it offers institutional exchange rates to retail investors. The platform’s low fee structure further strengthens its cost-efficiency. Moreover, it features a crypto staking platform with flexible lock-in terms. If you’re looking for a long-term partner in your crypto trading endeavour, do check out AQRU.
Disclaimer – The above content is non-editorial, and Economic Times hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content.
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
