It is good to see that more and more people are boarding the cryptocurrency bandwagon and believe that Bitcoin is an excellent value store. The interest in cryptocurrencies has massively shot up since the COVID-19 financial predicament and the offing’s economic recession.
If you are new in the crypto sphere and you are interested in trading digital assets, probably the first question in your mind is, where do I start? The first step in trading cryptos will be finding a trading platform that satisfies your requirements. Every trader has unique needs when it comes to trading. Selecting the wrong trading website will ultimately end up in wasted time, money, and effort.
There are many trading platforms out there today, and each one of them offers something different. Some of the most important factors to consider before selecting a trading application include:
- Security: The security o0f your funds and information is very vital. If you are going to make large deposits, you want to ensure there is a guarantee that your funds are safe.
- The number of supported digital assets: You need to know the number of digital assets you will be dealing with. The crypto market has more than 1,800 different cryptocurrencies, and it is crucial you do your homework and know which cryptocurrencies you will trade.
- Fees: Many crypto trading websites make their profits by levying transaction fees. Every cryptocurrency trade is charged, and before settling on a trading platform, you need to know what type of fees they charge their users.
- Ease of use: If you are a beginner in trading, you will need a platform that is easy to use and navigate. Choosing complex platforms with little or no experience will often lead to mistakes.
Whether you are a seasoned cryptocurrency trader or a novice who is exploring the world of cryptocurrencies for the first time, here are some of the best crypto trading websites to consider in 2021:
eToro was launched back in 2007, and it has established itself as one of the most popular trading platforms in the world. The brokerage deals with currencies, stocks, commodities, indexes, ETFs, and the newest addition, cryptocurrencies.
The platform has a beginner-friendly interface and allows users to trade digital assets such as Bitcoin, Ethereum, Ripple, Litecoin, etc., without any deposit fees. There are various deposit methods available, including PayPal, credit card, bank transfer, etc.
One of the key unique features of eToro is copy trading. Traders can easily copy the positions of the most successful traders. All you have to do is follow one expert trader with a proven track record and then copy their trading strategies.
Bitcoin Era is one of the best-automated crypto trading websites in the market. The Bitcoin Era’s primary goal is to help others in trading digital assets through CFD without having to apprehend the market. It accomplishes this through an algorithm in its code, allowing it to scan and analyze the need for profitable trading signals. After identifying the most promising signals, the website autonomously executes trades on behalf of the user, based on the parameters set.
The Bitcoin Era has proved to be very successful considering the parameters, market conditions, and the invested capital. Although profits are not guaranteed since the crypto market has its risks, the chances of winning your trades are relatively high. It is designed to give the user a better comparative advantage, although no one can precisely foretell the future market outcome. When using automated crypto trading websites, bear in mind that crypto can be massively volatile, and market conditions can change within a short period.
Bybit is an international cryptocurrency trading platform that does not require any KYC (know your customer) information. The platform was founded back in 2018 by Ben Zhou, and it is headquartered in Singapore.
While many cryptocurrency trading websites require traders to submit their personal information to trade, Bybit does not require any client information. As such, anybody from any corner of the world can easily register for an account using an email address, deposit funds, and begin trading without undergoing any verification procedure. However, there are trading fees levied for each position opened, just like any other trading platform.
Robinhood is one of the few commission-free trading websites available in the market. The main goal behind the launch of Robinhood was to make trading as affordable as possible. The primary target audience is young investors who are new to trading attracted by the word “free.”
The platform has a simple user interface that is easy to navigate. The platform initially started as a mobile application before eventually launching a fully-fledged website in 2017. Its simplicity makes the trading experience smooth and streamlined.
Besides, Robinhood does not have a minimum investment amount, and the funding process is easy and efficient. Unlike most brokerages, where deposits take a long while, Robinhood deposits are instant, and funds reflect on your account immediately.
Coinbase is one of the largest and most popular cryptocurrency trading and exchange platforms. The exchange is fully regulated and based in San Francisco, United States. The exchange was launched back in 2012. It has facilitated nearly $500 billion in cryptocurrencies within that time, and its active account holders hold more than $90 billion in cryptocurrencies on the platform.
Coinbase is simple and easy to use. The trading platform has invested a lot of time and money to ensure the customer experience is smooth and streamlined. The platform supports 32 digital assets for U.S. clients and 36 on Coinbase Pro. This is a larger number compared to what other platforms offer. For example, Robinhood supports half as many cryptocurrencies.
Each of the above-discussed cryptocurrency trading platforms has unique value propositions. As stated earlier, every trader has a unique set of requirements for choosing a trading platform. However, before you start trading, it is essential to know that trading cryptocurrencies is risky and can result in capital loss. It is recommended that new traders should only invest what they can afford to lose. You can always buy crypto with different crypto cards that are available in the market.