Cryptocurrencies are the latest craze to sweep the finance world, with Bitcoin (BTC) and Ethereum (ETH) dominating the space while…
Cryptocurrencies are the latest craze to sweep the finance world, with Bitcoin (BTC) and Ethereum (ETH) dominating the space while alternative coins like Dogecoin (DOGE) nail the punchlines.
As the number of cryptocurrencies in the market continues to expand, investors have more options than ever before to exchange their hard-earned cash for decentralized digital money. But how do you go about trading your favorite cryptocurrency?
The internet is filled with horror stories of hackers swindling traders of their gains from poorly protected cryptocurrency exchanges, making it all the more essential to carefully choose a secure crypto trading platform before you make your investment. So, which of the many cryptocurrency exchanges is the best choice for you?
There are myriad factors that will influence your decision: security measures, ease of use, trading fees and the number of coins available for trading all play a part in helping you determine the top crypto exchange for you.
To help you find the cryptocurrency trading platform that meets your needs, here are five options to choose from that will suit a variety of cryptocurrency investors:
It should come as no surprise that Coinbase, one of the most popular crypto exchanges in the world, tops this list. Crypto traders have been using Coinbase — operated by the publicly traded Coinbase Global Inc. (ticker: COIN) — since 2012, and the crypto exchange has only gotten better with age. Coinbase is one of the best cryptocurrency exchanges for beginners. Its platform is easy to use when buying, selling and storing cryptocurrencies. It also is a great place to stay up to date with alternative coins, new crypto projects and what’s happening next in the world of digital assets.
A user-friendly interface, straightforward onboarding process and free $5 in Bitcoin for opening an account make Coinbase an excellent place for new traders to get started.
For more experienced traders, Coinbase offers Coinbase Pro, with advanced charts and cryptocurrency trading tools.
With hundreds of digital currencies and altcoins supported on Coinbase, users have a good range of options to choose from, though the list is by no means extensive. On the downside, Coinbase is more expensive than other cryptocurrency trading sites and only has a few payment options. Users will want to watch out for high trading fees tacked onto their trades, part of a labyrinthine fee structure across the Coinbase site.
[See: 7 Best Cryptocurrency Stocks to Buy.]
Another popular crypto trading site, Binance has only been around since 2017, but it has quickly taken the crypto market by storm.