Traders can purchase, trade, and exchange cryptocurrencies on crypto exchanges. Currently, you cannot deal in digital currency without these exchanges. Some exchanges offer the best speed and price, while others specialize in facilitating the buying and selling of financial products.
From everyday investors to financial institutions, a growing number of people are taking interest in cryptocurrencies nowadays. In order to be a part of this unfolding revolution, you need a crypto exchange account, which lets you exchange the digital currencies like Ethereum, Bitcoin, and Dogecoin.
Over the past decade, Bitcoin (BTC) has evolved from a mysterious digital token to an alternative payment method and investable asset of value.
Therefore, to help you make investments in crypto safely, this article is going to inform you about the best platforms where you can buy, trade, and exchange cryptocurrencies:
Coinbase is the best crypto exchange out there, especially for beginners. The software supports a wide range of cryptocurrencies and provides strong security. Coinbase is not only a beginner-friendly platform but also offers the opportunity to practice advanced-level trading on its Coinbase Pro, which makes it attractive to both novices and professional traders.
And, if you want to become a serious day trader, you should start by closely observing the bitcoin price live on a day-to-day basis.
Currently, the market value of Coinbase stands at more than $36 billion. Its presence in over 100 countries also makes it a popular crypto exchange.
Gemini is the best crypto exchange for security reasons because it adheres to SOC 2 standards, offers robust security protocols, and offers user fund protection. Founded by Cameron and Tyler Winklevoss in 2014, Gemini places a high priority on security and compliance.
The New York-based exchange provides Hot Wallet insurance in the event of a security breach. To minimize the possibility of fraud, the system also requires users to verify their identities.
To further secure users’ accounts, Gemini offers the option to review and approve devices used to access their trading accounts. Another noteworthy security feature of Gemini is its SOC 2-certification, which means independent auditors have confirmed the company’s compliance and security standards.
Gemini is designed for advanced traders and supports over 75 digital currencies and tokens. Gemini provides cryptocurrency reward cards and lets users pay with crypto for goods and services.
The US-based Binance.US exchange offers many of the same advantages as its parent company, including low fees and a variety of cryptocurrencies for trading.
If you’re a casual crypto enthusiast, Binance.US offers a simple, form-based platform for transactions up to $10,000 that allows you to buy, trade, and exchange its tradable cryptocurrencies with ease.
For more advanced traders, the platform offers a variety of order types, including limit, market, stop-limit, and custom orders, as well as comprehensive trading dashboards, which display important data, like spot prices, trading volumes, and 24-hour highs and lows.
New users who have no idea what a candlestick chart is can get overwhelmed by it. So, they need to use the Buy Cryptocurrency tab until they have a better grasp of the basics.
Despite Binance.US’s 50+ coins collection, it lacks the portfolio diversity for hardcore crypto traders. Furthermore, not all U.S. residents currently have access to the platform: Connecticut, Louisiana, Hawaii, New York, Idaho, Vermont, and Texas cannot open accounts on Binance.US.
In addition to offering a wider range of coins to choose from, Kraken also has lower fees than other exchanges. Kraken was founded in 2011 and is one of the oldest U.S. crypto exchanges out there. Kraken Pro, Kraken’s professional-grade trading platform, allows investors to buy, sell, store, and trade more than 120 cryptocurrencies at a low fee.
In the early days of the cryptocurrency market, this feature-rich crypto exchange became the go-to exchange for professional investors, and it has maintained its reputation as a professional and reliable crypto exchange.
There are two trading platforms offered by Kraken, its main Kraken Pro platform and a professional platform. The exchange’s Pro dashboard includes customizable charting tools, detailed insights into the order book, high-speed execution, and 13 order types. As well as spot trading, Kraken users can also use margins to trade cryptocurrency and use crypto derivatives.
As of 2015, Robinhood pioneered the concept of zero-commission stock trading, giving the average person easy access to the stock market. Robinhood’s high-quality app trading platform is a top choice for budding investors who are looking for a platform where they can invest while they are in the field, with no fees, access to fractional shares, and a variety of investment options.
The app is well suited for investors looking for an app to make investments in ETFs, stocks, options, cryptocurrencies, and fractional shares. However, the company does not offer IRA accounts or mutual fund purchases, so those who need them should look elsewhere.
Crypto.com was founded in 2016 and quickly became one of the top global crypto exchanges. Currently, it is available in 90 countries worldwide, and it supports over 250 cryptocurrencies on its platform.
Crypto.com, in addition to supporting a large number of assets, has its own blockchain called Crypto.org Chain, along with crypto visa cards, a native token called CRO, yield-generating crypto products, and others.
Most notable, however, is the Crypto.com mobile app. Unlike many crypto exchange apps, Crypto.com built an app that offers a wide range of products and features. It allows users to take advantage of the exchange’s ecosystem while on the move. With the app, users can pay and receive crypto payments, buy or sell it, trade it, and earn interest on it.
Bisq is a peer-to-peer cryptocurrency exchange launched in 2014 that allows people to trade a range of digital currencies and tokens. It currently supports more than 100 cryptocurrencies.
No KYC (Know-Your-Customer) identity verification process is needed to use this decentralized exchange, nor is the trading software limited to users in particular jurisdictions. You can buy and sell Bitcoin and other cryptocurrencies using a variety of payment methods, such as bank wire transfers, cash deposits, and ACH transfers.
The Bisq exchange is popular with early cryptocurrency adopters, as it maintains many of the values that Bitcoin was built on, such as privacy, decentralization, and sovereignty, but it’s not beginner-friendly.
In peer-to-peer trading, the escrow mechanism may prove challenging to new users, while the relatively slow execution of trades could discourage active traders and new users. Additionally, the exchange is more suited to small trades, since trading volumes are lower than on centralized global exchanges.
If you’re thinking about jumping into crypto trading then choosing the right exchange is crucial. For your convenience, we have already discussed some of the best exchanges currently available in the market. So, it’s up to you now to choose the one most suitable to your trading needs.