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Top 6 Cryptocurrency Trading Platforms
The cryptocurrency revolution is taking the world by storm, and it’s getting easier to get overwhelmed by all of the investment opportunities. Since 2013, cryptocurrency, especially Bitcoin, has been a hot topic. Bitcoin was worth about $20 in January 2013, and by early 2021, the value of 1 Bitcoin had risen to $50,000. Bitcoin and other cryptocurrencies, as risky investments, have produced a slew of billionaires, as well as those who lost money by selling their coins too soon or losing the password to their digital wallets.
As the number of cryptocurrencies on the market grows, investors now have more choices than ever to trade their hard-earned cash for decentralized digital currency, and choosing a shady exchange for your crypto-related activities is becoming a common mistake.
The most important factor to consider while buying and purchasing Bitcoin or other cryptocurrencies is safety and protection. If you wish to buy and keep for a long time, trade regularly, seek anonymity or privacy, or simply want ease of use, the following exchanges are the best for any use case.
Coinbase, one of the world’s most successful and best crypto exchanges, was established in June of 2012, is backed by reputable investors, and is used by millions of customers worldwide. Coinbase is best known for its user-friendly website and Coinbase Pro crypto trading platform. Coinbase allows users to buy 14 different cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
Although the cryptocurrency industry has been plagued by fake coins and shady exchanges, Coinbase has mostly escaped controversy. Coinbase provides an incredibly user-friendly exchange, significantly lowering the barrier to entry for cryptocurrency investment, which is otherwise perceived as frustrating and convoluted.
+ Fiat currencies – accepted
+ Extremely simple user interface
+ Very secure
– High fees when not using Coinbase Pro
– Not available in all countries
– Some of the less-known coins aren’t supported
With over 18 million users worldwide and over 20 million crypto transactions completed on the website, eToro is one of the largest cryptocurrency exchanges in the world. eToro is one of the most stable crypto trading platforms available, with support from over 140 countries. eToro does not offer as many assets to trade as some of its rivals, but it does support the 14 most popular cryptocurrencies. eToro aspires to be the leading brokerage firm, including cryptocurrency brokerage. The business, which was established in 2006, has extensive experience in the field of financial investments.
+ Supports 14 of the largest cryptocurrencies
+ Copy trading service available
+ Can deposit funds via bank account or wire transfer
– Withdrawals can be slow
– Slow verification process
– High first-time deposit
Since its inception in 2011, Kraken has established itself as a reliable and stable cryptocurrency exchange. It is the largest cryptocurrency exchange in terms of Euro volume and liquidity, and it is a founding member of the first cryptocurrency bank. Kraken allows you to buy and sell Bitcoin and other digital currencies such as Ethereum, Monero, and Litecoin, as well as exchange them for Euros, US dollars, Canadian dollars, British pounds, and other currencies. It is, however, an actual exchange that is not as simple to use as some of the top sites on this list. Kraken is one of the few sites on this list that allows you to trade in DOGE as well as other, riskier, tokens.
Kraken has its own proprietary custody solution and does not rely on any third-party service for security. 95 percent of all Kraken deposits are kept in offline, air-gapped, geographically dispersed cold storage
+ Secure and reliable
+ Low fees
+ A large amount of fiat currencies accepted
– Not the most helpful customer service
– Not as simple to use as other exchanges
Gemini, co-founded in 2015 by Tyler and Cameron Winklevoss, is a fully regulated licensed crypto exchange designed for both individuals and institutions. That is, Gemini’s capital requirements and regulatory expectations are comparable to those of a bank. Furthermore, all US dollar deposits are held at an FDIC-insured bank, and the vast majority of digital currency is kept in cold storage.
Gemini is a reputable cryptocurrency trading platform that is appropriate for both novice and experienced users. It takes extra security precautions and provides you with high-quality service. The website is easy to use, but the mobile app isn’t as user-friendly. The exchange uses a maker-taker fee structure, with discounts reserved for high volume traders. Both deposits and withdrawals are completely free. Customers in the United States, Canada, Hong Kong, Japan, Singapore, South Korea, and the United Kingdom have access to the website.
+ Strong security
+ US dollar accounts are ensured
+ Easy-to-use website
– Limited payment methods (no debit card or credit card payments)
– Limited international availability
– Limited selection of cryptocurrencies
Binance, the world’s largest crypto exchange, was created in 2017 and is our top choice for buying and selling altcoins. Binance has a staggering 1,400,000 transactions per second and an overall daily volume of over $2 billion. Binance is a cryptocurrency exchange that facilitates over 100 crypto-to-crypto trades. There are some fiat-crypto pairs available, but the majority of its pairs are between cryptocurrencies. The exchange only accepts US Dollar deposits via SWIFT from global users, but it does allow you to directly purchase a limited number of cryptocurrencies with a credit or debit card. Deposits in 12 other fiat currencies, including the Euro, are permitted.
Binance has been the victim of cyberattacks in the past, most recently in 2019 – but the site has an insurance policy to cover any damages. Having said that, Binance is a safe trading platform that provides a variety of powerful resources for users looking to invest in various digital currencies on the blockchain.
+ Lower fees than other commonly used exchanges
+ More than 100 different cryptocurrencies available to trade
– Geared for more advanced users
Cex.io is a cryptocurrency exchange located in the United Kingdom that has been in operation since 2013. It is one of the best cryptocurrency exchanges, offering a variety of payment options for bitcoin and other cryptocurrencies. Cex, like Coinbase, allows you to deposit fiat currencies such as EUR, GBP, USD, RUB, and others as well as buy and sell crypto currencies such as Bitcoin, Bitcoin Cash, Ethereum, Stellar, and Ripple. If you are a novice, this is one of the easiest crypto exchanges to use.
They are doing well in terms of liquidity, and their primary traffic is from fiat currencies. The Cex.io website is safe and easy to use, and cryptocurrencies can be safely stored in cold storage. Users are also covered by a level two DSS certificate when using Cex.io. This means it has demonstrated a certain degree of protection in terms of storing, processing, and transmitting payment card data.
+ Easy to use, beginner friendly, good mobile app
+ Allows crypto trading with multiple options, including debit card, USD EUR
+ Great support, secure and reliable
– Strict verification rules
– Fees vary with the payment method
– Limited selection of cryptocurrencies