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Top 10 Cryptocurrency Trading Platforms

lnhngn 11/11/2021 18:02 665 views

For a long time, the rapid growth of cryptocurrencies has been the talk of the town, with investors anxious to capitalize on the digital currency’s prospective returns. However, some individuals have questioned the validity of different crypto trading platforms, particularly given how easy some of them to hack.

Nobody wants hackers to steal their Bitcoin.

This post will discuss the top ten crypto exchanges on the market right now, whether you’re an experienced crypto investor or new to the industry and want to learn more about crypto trading.

10 Best Crypto Exchanges in 2021: First Look

  1. Best exchange overall – Binance (Binance.us For USA users)
  2. Buy Bitcoin for beginners – Coinbase
  3. Top Bitcoin exchange – Kraken
  4. Crypto meets forex – eToro
  5. Great sign-up bonus – Crypto.com
  6. Brokerage service for popular coins – Coinmama
  7. Best for privacy – Bisq
  8. Low-cost cryptocurrency exchange – Robinhood
  9. Best trading options – Tradestation
  10. Best for USA crypto traders – Gemini

1. Binance  Best Cryptocurrency Exchange Overall

Pros:

  • 50+ cryptocurrencies
  • Reputable
  • Low fees
  • Easy-to-use website interface
  • Good security

Cons:

  • Not available in 7 US states
  • Not ideal for beginners
  • Poor customer service

Binance US was established in San Francisco in 2019 for citizens of the United States.

Binance is a cryptocurrency exchange that allows you to buy, sell, and trade cryptocurrencies for a fee of 0.1 percent. You may earn interest on your coins by staking them for a period of time and earning a rate of between 0.5 and 10%.

You can buy cryptocurrency with bank deposits, bank transfers, and credit/debit cards, so there are plenty of options. Debit card purchases, on the other hand, are subject to a hefty 4.5 percent surcharge.

Binance offers a security fund as insurance in case user money are stolen, as well as a two-factor authentication system (2FA), however reports have noted authentication system flaws.

Nonetheless, there are 50+ coins available on Binance, so you’ve got a ton of options if you’re looking to trade Bitcoin, Ethereum, and many other coins.

2. Coinbase – Best Place To Buy Bitcoin for Beginners

Pros:

  • View all your coins in one place
  • Simple UI for beginners
  • Insured
  • Buy Bitcoin easily
  • Good variety of altcoins 

Cons:

  • Expensive compared to other crypto exchanges
  • Few payment options
  • Custodial wallet

Coinbase, which was founded in 2012 in San Francisco, California, now has over 30 million users from 103 different countries.

This crypto exchange primarily caters to new investors trying to trade cryptocurrencies, so if you’re a beginner looking to learn the ropes without getting overwhelmed by graphs and statistics all over the screen, this is a great place to start.

Bank deposits, bank transfers, PayPal, and credit/debit card transfer payments are all accepted by Coinbase. However, the exchange charges high fees for transactions under $200, ranging from $0.99 to $2.99, with an extra 0.5 percent fee based on the amount transferred.

Coinbase offers FDIC insurance, which ensures that customers are appropriately paid if the firm goes out of business, and cold storage is utilized to store 98 percent of user assets, meaning that theoretically just 2% of your money might be taken at any moment.

They’re an excellent bet!

In our opinion, there is no better place to start as a crypto newbie than Coinbase.

3. Kraken – Best Customer Support of Any Crypto Exchange

Pros:

  • Good security features
  • Stylish user interface
  • Reputable site
  • 7 fiat currencies
  • 50+ cryptocurrencies

Cons:

  • Not for beginners
  • Slow account verification
  • Poor customer support

Based in the US, Kraken launched in 2011 and relaunched in 2013. The exchange currently offers 50+ cryptocurrencies, so you’ve got plenty of options to trade with.

Starter, intermediate, and pro accounts are available from Kraken. Deposits, exchanges, and withdrawals of bitcoin are all possible with the beginning account.

If you’re new to cryptocurrency, this is ideal!

On average, trading costs range from 0.9 percent to 1.5 percent, depending on the size of the transaction. As a result, it’s one of the more affordable crypto exchanges with an excellent reputation.

On the flipside, despite the fact that customer service claims to be available 24 hours a day, the service has received some negative feedback.

For account verification, you must submit identification for each deposit, which is excellent for security, and there are seven fiat currencies accepted at the time of writing (USD, EUR, CAD, GBP, CHF, JPY, and AUD).

4. eToro – Best Trading Platform For Crypto & FOREX

Pros:

  • No commission on cryptocurrency
  • Easy-to-navigate user interface
  • Easy for US crypto investors to sign up
  • Multiple coins traded (BTC, ETH, etc.)

Cons:

  • High trading fees
  • Poor customer service
  • One account-based currency

As a social trading exchange, eToro was founded in 2007 in Tel Aviv, Israel. With 17 million members distributed over 100 countries, it currently has its headquarters in London. It began operations in the United States in 2018 with a cryptocurrency-only platform.

For investors, the exchange provides six crypto coins: Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and XLM. While it may not seem like much, they are the most popular crypto currencies that most people want to trade, so it makes sense.

eToro gives a $50 bonus on cryptocurrency purchases of $1,000 or more. However, depending on the trade size, eToro charges a hefty 0.75 percent -2.90 percent trading fee.

No platform is perfect!

With only one standard currency, the USD, deposits take around 7 days to clear before they can be used. Because all foreign currency deposits and withdrawals incur fees, it’s better if you’re a US trader.

eToro, on the other hand, can be the cryptocurrency exchange for you if you want a simple and trusted system that allows you to trade the largest cryptocurrencies on the market.

5. Crypto.com – Best Sign-up Bonus

Pros:

  • Good security
  • Low fees
  • Huge crypto coin collection
  • Up to $50 sign-up bonus
  • Regular promotions

Cons:

  • Complex app system
  • Poor customer service
  • Poor privacy
  • Unclear source of funding

Crypto.com, located in Hong Kong and founded in 2016, is a prominent cryptocurrency trading, buying, selling, and spending website. The exchange business is well-known for its extremely cheap costs, which range from 0.04 percent to 0.20 percent.

Crypto.com gives you the option of having a non-custodial DeFi wallet with its own software. It allows you to link that account to your primary one for easier money transfers.

Users may also participate in the Crypto Earn program, which allows them to stake their coins for a renewable term of 1 or 3 months and earn up to 12% interest.

Typically, the longer you stake, the more interest you can earn.

If you have any questions, Crypto.com offers 24/7 customer service by in-app live chat, email, and phone. Slow customer service, on the other hand, has been one of their most common complaints, with some consumers claiming ignored calls or delayed services.

Crypto.com runs on mobile apps only, so you’d better be an on-the-go trader!

6. Coinmama – Best Bitcoin Brokerage Service

Pros:

  • Good customer care
  • Easy-to-navigate website interface
  • Live pricing
  • Bitcoin sold directly
  • Comes in many languages

Cons:

  • No mobile app
  • High fees
  • No crypto-crypto transactions
  • Can’t sell Bitcoin without an EU bank account

Launched in 2013 in Tel Aviv, Coinmama is a cryptocurrency brokerage with 2 million worldwide users spread over 188 countries.

Brokerages, unlike exchanges, sell their crypto to investors. Coinmama has a total of ten cryptocurrencies (including Bitcoin) that they may sell to you at a discount.

You may also pay using a debit/credit card, a bank transfer, a wire transfer, or Apple Pay. All deposits and purchases, however, are subject to a 5% and 5.5 percent fee, respectively.

It’s handy, but it comes at a cost.

You do, however, receive a private e-wallet key to protect yourself from hackers when it comes to security. As a result, your money is significantly less vulnerable to assaults, allowing you to rest easy knowing that your digital currency is safe.

7. Bisq – Best Decentralized Crypto Exchange

Pros:

  • Decentralized exchange
  • Good security
  • Variety of payment options
  • Low fees
  • Not geo-restricted

Cons: 

  • Low liquidity
  • Open for fraud

Bisq was founded in 2014 and is a decentralized exchange with servers located all over the world rather than a single centralized location. To put it another way, someone stealing your money is very impossible.

Bisq accepts over 120 cryptocurrencies as well as a variety of fiat currencies.

Bisq, unlike other exchanges, does not require personal information from users and does not require authentication. Depending on your motivations, this might be both beneficial and terrible.

To work, a crypto trader either sets an order with another trader or accepts an order from another trader. Despite the numerous payment choices available, traders must agree on the form of payment before funds may be received.

A trader who makes an order pays a commission of 0.1%, and a trader who takes the offer pays a fee of 0.3%, making it about 0.00005 Bitcoins in fees at the least.

8. Robinhood – Best Low-Cost Trading Platform

Pros:

  • Easy user interface
  • No commission fee
  • Good security
  • Instant access to cash deposit
  • Takes many fiat currencies

Cons:

  • Funds are not able to withdraw
  • Only 7 cryptocurrencies
  • No anonymity
  • Hidden fees

Robinhood, which was founded in 2013 and is located in the United States, began as a stock broker. However, in 2018, it began selling crypto services, mostly to young and inexperienced investors who wanted to try their hand at crypto trading.

You’re undoubtedly familiar with it thanks to the GameStop debacle.

The crypto exchange, which now supports seven major cryptocurrencies, is best known for its user-friendly mobile app layout and the fact that it charges no fees for crypto exchanges.

Robinhood also boasts good security features, like two-factor Google authentication to keep hackers at bay and a device management system that lets you disable access to devices you don’t permit.

On the downside, while the majority of the services are free, some users have reported hidden costs, claiming that fees levied by middleman firms are passed on to the consumers.

And, despite its popularity among crypto newbies, Robinhood does not let you withdraw your crypto funds, forcing you to transfer assets to other accounts. This isn’t ideal.

9. Trade Station – Most Varied Trading Options

Pros:

  • Good quality educational tools
  • Crypto trader community
  • Advanced tools
  • Popular

Cons: 

  • Only 4 cryptocurrencies
  • Poor customer service
  • Unclear pricing structure
  • Not a crypto-specific exchange

Based in Florida and founded in 1982, Trade Station has gained popularity due to its longevity and credibility. It is most popular among advanced and intermediate crypto investors.

Trade Station, while best known for stock trading, now allows users to purchase, sell, invest, trade, and earn cryptocurrencies, with only four options: Bitcoin, Bitcoin Cash, Litecoin, and USD Coin.

So, on the coin front, it’s a bit restricted.

Nonetheless, this brokerage offers a 6% interest rate that accrues daily and is paid monthly, allowing you to deposit and trade assets to your heart’s delight while earning a reasonable return.

The mobile app has an easy-to-navigate design that you can tailor to your tastes, as well as 24/7 customer service, yet many reviews claim that customer service is shoddy.

10. Gemini – Best Crypto Exchange For US Traders

Pros:

  • Good security
  • Easy-to-use interface
  • No deposit fees
  • Good liquidity

Cons:

  • Serves limited countries
  • Needs a lot of personal information
  • Higher fees than other exchanges

Launched in 2014 in New York, Gemini is a crypto exchange with 20 cryptocurrencies and over 25 fiat currencies.

This cryptocurrency exchange gives customers a $10 bonus when they sell or buy $100 worth of Bitcoins, and it also has a Gemini Earn campaign that allows users to earn up to 3.5 percent interest on their Bitcoins when they store them.

Gemini accounts, on the other hand, have a $5,000 daily deposit restriction and a $30,000 monthly deposit limit, making them unsuitable for high rollers. You can also withdraw up to $100,000 every day.

Assets are kept in cold storage for protection, and user money are guaranteed by the FDIC.

Trades, on the other hand, are subject to a 0.50 percent cost, while transfers are subject to a fee ranging from 0.99 percent to 1.49 percent. That’s competitive with some of the finest crypto exchanges, although there are better deals available.

The top ten cryptocurrency exchanges are listed above as an overview. I hope the information provided above will assist you in selecting a reliable and appropriate trading platform for you.


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lnhngn

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