Online trading has become the latest trend among millions of investors worldwide. It allows them to multiply their assets in a secure and simple platform. As a store of value, others are converting their cash into cryptocurrency to avoid devaluation. These transactions have a large volume on a daily basis, even at a time when the world is facing a global pandemic.
But as the market grows, the competition among crypto exchanges is also getting tighter. Each platform is trying to convince prospective investors that they have the best features in the industry. Still, it’s hard to distinguish the best choice most of the time.
Investors need to be critical in choosing the trading platform because this would affect their chances of success. Also, with the cases of frauds and scams rising in the network, it’s one reason why checking the reputation and integrity of the website is always a necessity. Security and stability are two criteria that must never be taken for granted.
When the trading site is secure, any investor can do business without being bothered by untoward incidents. There’s also peace of mind when the platform has proven stability because that would be beneficial for long-term investments. To simplify your choices, the following crypto trading sites might be worth your money, after all.
Ranked as the first on the list, Coinbase has been serving crypto traders since 2012. It has built a good reputation over the years, thus popularising its brand of service among various investors worldwide. The platform has a user-friendly interface allowing any person to join with a $5 bitcoin bonus upon creating an account. Some financial planners recommend Coinbase for beginners as they can access all coins in one place. For advanced players, they may prefer Coinbase Pro that provides better tools among participants. However, compared with other choices, Coinbase may be more expensive and has fewer payment options.
This trading platform is ideal for people who want to trade Bitcoin and other cryptos with ease. It offers security and convenience for every transaction. When it comes to profit, you are also in control of your trades as the site operates a decentralized system. Some sources describe this trading site as a great alternative to the popular platforms that came before it. But time does not matter when you speak about long-term gains and stability. Bitcoin Loophole offers a simple approach to trading cryptocurrencies. You’ll have access to a convenient platform that helps you trade Bitcoin and more without any complex rules.
For those who have been in crypto trading for years, Binance is not something new. This platform has been around for the last four years yet has gained traction and dominance over any other choices. It supports over 500 cryptocurrencies and is known for its intuitive and straightforward setup, allowing traders to switch between a basic and advanced version of the site. Beginners can easily navigate the platform and may benefit from the low trading fees for every transaction. Nonetheless, Binance does not allow users to exchange U.S. dollars for cryptocurrency, although credit and debit cards are accepted. When it comes to security, it has proven integrity as the platform survived the hacking issues in the past and continues to improve its system.
Another trusted name for crypto exchange is Gemini which entered the industry in 2014. It began to use bitcoin and ethereum for trading but eventually adopted over forty different cryptocurrencies. The platform has a proven legitimacy and is compliant with state regulations. Thus users are assured of secure transactions. In terms of customer service, one analyst noted that Gemini is very responsive to any concerns. Users would also have an easy time doing transactions on the platform because the website is easy to navigate. If there is any concern, users may demand the use of debit or credit cards for payments. Also, the trading fees may be a bit higher than Coinbase Pro.
Traders who are looking for commission-free stock transactions may consider this platform an ideal choice. Robinhood also guarantees users secure trading for seven cryptocurrencies on its network. This is particularly beneficial among beginners not only for security but for its easy-to-use platform as well. But for some reason, it does not allow users to remove their coins and transfer them into a wallet. Compared with the previous crypto exchange platforms, this one may not be as competitive at all. Industry experts say that the platform has all the essentials for a cryptocurrency rookie and might be good enough for new traders.
There are certainly good choices when it comes to cryptocurrency trading platforms. The aforementioned ones currently make it on the top list. But you have to keep in mind that change is also constant in this industry. As a smart trader, you have to stay abreast with the new trends and updates to evaluate your choices accordingly. Also, as you explore your opportunities, one fact that’s never changing is that cryptocurrency is a highly speculative asset. If ever you decide to join the market, this online platform might be the best choice you’ll ever have!