Cryptocurrencies are the current market trend in the world. This has been changing the business sector into something special and unique at a rapid rate. This digital technology was introduced many years ago, but it had a comparatively slow start compared to the present motion. The primary reason for this elevation of this technological marvel is the sudden adaption of the digital phase by the entire world because of the pandemic. This led to trading and investing of digital currencies inside locked doors for almost a year and at present, it has taken over the world economy. This rapid surge in the digital economy has paved the way for business entities to take notice and start their own crypto exchange development. 

In general, cryptocurrencies are digital currencies that are bought and sold online. This technology is supported by a system called the blockchain. A blockchain network is a decentralized digital ledger that stores all the transaction details securely. Hence, the transactions are secure and transparent. Cryptocurrencies are traded on a platform called the crypto exchange platform. There are wide ranges of cryptocurrency exchanges, and they are chosen by the user based on their requirements. Thus, initiating crypto exchange development for business is a perfect way to experience an immense level of profits; considering the usage rate and popularity of the crypto domain. Hence, in this blog, we will be ranking the top 10 best crypto exchanges of the year 2022.

Top 10 Crypto Exchanges

1. Binance 

Binance is one of the popular exchanges in the digital space. This crypto exchange was founded in 2017. This cryptocurrency exchange initiates crypto-to-crypto trading where it comprises more than five hundred cryptocurrencies and other virtual tokens. The most commonly traded cryptocurrencies are Bitcoin(BTC), Ether(ETH), Litecoin(LTC), Dogecoin(DOGE), etc. And most importantly, the Binance platform trades its native token called Binance Coin(BNB). The interesting part of this platform is that it provides a crypto wallet for traders to securely store their electronic funds without having to worry about complications. The Binance exchange enables the user to earn interest using the cryptocurrencies as well.

2. Uniswap

Uniswap is one of the best crypto exchanges in the digital space. This crypto exchange is completely decentralized which means, the involvement of third parties is eliminated. The core of this crypto exchange is the implementation of a trading model called the automated liquidity protocol. This platform was first introduced in the market in 2018. This cryptocurrency exchange is built on the Ethereum blockchain. Thus, it uses the effectiveness of the ERC-20 token standard. At present, Uniswap is the fourth biggest decentralized crypto exchange platform that has been used by a wide range of users in the crypto market.

3. PancakeSwap

PancakeSwap is often referred to as one of the top crypto exchanges. This crypto exchange is based on the model known as an automated market maker (AMM). This model replaces the concept of order books. The users trading on this platform will automatically get liquidity from numerous liquidity pools, where the rebalance after the trade is executed. The trading activities are done on the AMM model in the PancakeSwap, the liquidity gets subtracted from one side of the pool, and liquidity is added from the other side, therefore, maintaining the relative values of the assets in the liquidity pool.

4. 1inch

1inch is a crypto exchange platform that initiates a scanning model to the decentralized exchanges to determine the lowest crypto prices for traders, and this platform is powered by its native token called the 1inch utility and governance token. This platform follows the protocol of instant governance and facilitates liquidity mining with the help of token staking.

5. Robinhood

Robinhood is a unique crypto exchange platform. It is mainly focused on a discount brokerage that initiates commission-less trading and investing platform. This platform receives the majority of the revenue from transactions that are based on the order flow of the payment. The trading volume of cryptocurrencies in this platform is enormous as they are doubling every year and making their mark as one of the most trusted crypto exchanges in the digital world.

6. Coinbase

Coinbase is one of the most used crypto exchanges in the digital space. This is a secure platform that is used for purchasing, selling, and trading cryptocurrencies and other virtual currencies as well. The primary focus of this platform is to create an open financial mechanism for the DeFi world. This platform initiates seamless conversions between digital currencies and fiat currencies, in and out, without any complications.

7. MEXC

MEXC is a centralized exchange platform that was founded in the year 2018. This platform uses a high-volume mega-transactions matching mechanism. This centralized exchange platform is one of the most user-friendly digital asset platforms in the world. It trades a wide range of cryptocurrencies that includes the most popular cryptocurrency called Bitcoin(BTC).

8. WazirX

WazirX is a peer-to-peer cryptocurrency exchange platform that is based in India. This platform is created with an effective and simple onboarding process that makes things easier for the users to enter and trade cryptocurrencies. The WazirX platform is developed based on the networking prowess of the P2P transaction system. This platform is built on the Binance blockchain network. And WazirX is rising in the ranks of becoming one of the india's best crypto exchanges in the digital world.

9. Gate.io

Gate.io is a cryptocurrency exchange platform that is proficient in providing market data to the users at real-time variant. This provides information to the user regarding the current price, trading volume, price movements, and liquidity data of all the integrated altcoins. This platform is a very unique one in the digital space.

10. Crypto.com

Crypto.com is similar to every other top crypto exchange in the digital world. This platform trades a wide range of cryptocurrencies and also does the conversion of the process of fiat to crypto and vice versa. The primary goal of this platform is to elevate the world with the rapid transition towards cryptocurrency.

Final Thoughts,

At present, the entire world is dominated by the concept of cryptocurrency. The future with this impressive technology looks bright and marvellous. The most interesting part of this technology is that it is still evolving and a lot more is added to the plate. Hence, the future is quite certain that this technology will change the complete landscape of the digital space. Thus, crypto exchange development has become a great business opportunity for crypto enthusiasts to experience profits and rewards at a rapid pace.