Cryptocurrency trading has been a popular trend among investors and traders for more than a decade now. If you want to trade crypto, the first thing you would need is to open an account on a crypto exchange. It is an online trading platform that allows you to buy and sell virtual currency and store them on a digital wallet known as a crypto wallet.
A cryptocurrency trading exchange often works as a stockbroker. It provides you with the necessary tools to buy and sell crypto coins like ethereum, bitcoin, and litecoin. These online services make it easy for everyone to buy and sell their desired cryptocurrencies with low fees and excellent security features.
When deciding on the best cryptocurrency exchange for crypto trading, it becomes vital to check pricing, deposit and withdrawal options, security, and supported currencies. These are a few aspects that you need to focus on when choosing the best cryptocurrency exchange to meet your trading goals.
Although the crypto industry has experienced fraudulent coins and shady exchanges, several online trading platforms largely avoid controversies. Following are the top five crypto trading platforms to have an account and start trading with complete dedication.
1. Coinbase & Coinbase Pro
Coinbase has been one of the most popular cryptocurrency exchanges around the world. It makes trading digital coins easy besides offering transparent pricing and flawless security features.
Coinbase offers a tremendously easy-to-use trading platform with more than 63 different cryptocurrencies. It significantly lowers the limit for your entry for crypto trading, which often creates confusion and convolution for many individuals.
With Coinbase, you can also benefit from the insured custodial wallets to store your investments. These digital wallets have insurance against hacking and data breaches. It is like you keep your cash in an FDIC-insured bank account. Furthermore, this trading exchange has brought a free Coinbase Pro version with a cheaper and different fee structure and more charting indicators options.
2. Cash App
Cash App allows you to invest in ETFs, stocks, and crypto as you can do at Robinhood. This platform is more like a bank account and has specific debit cards as well. Cash App is a convenient service and has lots of useful features. It is a peer-to-peer money transfer service that allows you to pay rent to the landlord or shop online or even split food at a restaurant that supports Cash App. This mobile-first interface is easy to understand and use. That’s why it is perfect for first-timers. However, it only deals with bitcoin and no other digital coins.
With a focus on altcoin trading, Binance allows you to trade with many different digital currencies, as well as with many fiat-crypto pairs. The crypto exchange only accepts US dollar deposits from international users. However, it also allows you to directly buy a chosen number of digital coins by paying through debit or credit card. You can also deposit in twelve other currencies, such as the Euro.
Bisq is a popular peer-to-peer crypto exchange. It’s a downloadable software application that works decentralized. It means Bisq does not carry a central failure point and cannot go down like bitcoin. The trading exchange platform is non-custodial. It means nobody else can touch or control your funds. This feature differs Bisq from centralized exchanges like Coinbase that manage its customers’ funds in custodial accounts to which they do not have the private keys. Centralized exchanges can seize your funds if your account activities seem to be suspicious, whether or not it is illegal or not at your end. However, Bisq frees you from this stress and makes your journey in cryptocurrency trading easy,