Cryptocurrencies are indeed the new financial craze, like Bitcoin (BTC) making headlines and Dogecoin nailing the punchlines. If the number of digital currencies on a marketplace grows, investors now have more opportunities than ever to trade their hard-earned money for decentralized digital currency. The bitcoin equaliser software is one of the apps for trading it is also considered as the most reliable platform for trading.
So how exactly can you go about selling your precious cryptocurrency? The internet is rife with horror reports of hackers stealing traders’ profits from badly secured cryptocurrency platforms, emphasizing the importance of carefully selecting a stable crypto trading site until making your purchase. That being said, which of the numerous crypto exchanges seems to be the perfect fit for you?
Numerous considerations will affect your choice, including stability, ease of use, fees, and the number of coins eligible for dealing, all of which play a role in determining the right cryptocurrency exchange for you.
To assist you in finding the crypto exchange site that best serves your needs, below are three choices to explore that will cater to a broad range of digital currency investors:
Best Crypto Trading Sites
It’s indeed one of the finest crypto exchanges, and is now at the top of this chart. Coinbase might go global in the coming weeks through a direct listing, and even with a $100 billion estimate, the excitement around the company’s launch is building.
Though customers will shortly be able to get a slice of the Coinbase pie, cryptocurrency traders have been using the exchange for almost nine years, and it has only grown stronger with time.
Coinbase is an excellent location for fresh traders to get going because of its user-friendly design, simple onboarding method, and free $5 just for starting an account.
Coinbase Pro, which features more versatile platforms for power users trying to get into digital currency investing, would appeal to advanced users. The platform also offers customers a wallet, although a hot wallet, which opens the door to future threats – but George Chrysochou, international marketing director at Financer.com, states that Coinbase is among the most secure markets, maintains very high-security levels, and has never been compromised.
Users have a good selection of choices to pick from with 46 various forms of digital currencies and altcoins backed by Coinbase, but the list and it’s by no means exhaustive. Furthermore, consumers can keep an eye out for heavy fees tacked onto their transactions, which are part of a complex fee arrangement around the Coinbase network.
Furthermore, Chrysochou points out that Coinbase users don’t really own their login credentials and that sluggish email support and restricted privacy can throw off some users. However, these are small drawbacks to the otherwise impressive list of advantages, and it’s simple to understand why Coinbase has been the cryptocurrency exchange of preference for many, many citizens.
Binance, another very successful crypto trading platform, has been around for about three years and has rapidly taken the crypto industry by storm.
The hong kong-based, Binance, is a foreign exchange that funds over 200 separate cryptocurrencies. The platform is relatively user-friendly and straightforward, enabling users to choose between a simplified and advanced edition of the platform at any point while their crypto trading careers develop. While Binance is convenient to use for new cryptocurrency traders, it could ultimately be better for cryptocurrency day traders – very affordable charges, good charting tools, and an easy-to-use smartphone app make for quick, convenient cryptocurrency trading. It’s easy to see why Binance has grown to be one of the globe’s biggest cryptocurrency exchanges.
It’s worth noting that Binance may not encourage you to trade US dollars for cryptocurrencies, but it does recognize credit and debit cards. There is a US-based portal for American users, although it has fewer choices than the leading site.
Furthermore, Binance has been the victim of cyber intrusions in the past, most notably in 2019 – but the platform has an insurance policy to mitigate potential damages. Binance is a safe trading site that provides various powerful resources for users looking to invest in various virtual currencies on the blockchain.
For a good cause, you may not think about Robinhood when it comes to cryptocurrency trading. The smartphone app popular for commission-free stock trading – and for recently banning users from offering GameStop (ticker: GME) as well as other “meme commodities” – is mostly a stock-trading app. However, in 2018 Robinhood started to provide cryptocurrency trading too. In the years after, Robinhood has gradually expanded its crypto offering, enabling consumers in select states to exchange just seven virtual currencies, like Dogecoin.
You should be aware that Robinhood does not encourage users to withdraw their coins and deposit them in another wallet of their choosing. In reality, Robinhood is purely a trading app and does not allow users to use their coinage for payments.
Robinhood lacks the alarms and buzzers of its larger, more developed competitors, and experienced consumers will be best served elsewhere. However, it contains all of the necessities for a cryptocurrency newcomer, and it could be the strongest cryptocurrency exchange for novice traders, to begin with.