Successfully and efficiently trading digital assets means finding a platform with all of the tools and protection you need. Cryptocurrencies have always been volatile, and traders need a reliable exchange site to keep up with the market.
Aside from trading cryptocurrencies, exchange platforms also enable the storage of funds, view market charts, and use all sorts of tools and features to make the users’ trading experience a better one.
There are tons of crypto exchange sites to choose from, but how do you know which one is the best for your trading patterns and needs? Before choosing, it’s better to have an idea of some of the best crypto platforms on the market first.
For those who already have experience in trading crypto, Coinbase is a household name. The platform was first launched in June 2012 and has since risen through the ranks to become one of the most popular crypto exchanges ever. With over 68 million account holders, Coinbase has worked with 160,000 partners in hundreds of countries worldwide.
Traders choose Coinbase because it supports 50 cryptocurrencies. It is also accessible via Paypal, and traders can even use their credit or debit cards to purchase crypto with ease. The fees, on the other hand, are higher compared to other platforms.
First launched in 2017, Binance is another well-known platform in the crypto market. It supports over 500 cryptocurrencies and allows traders to purchase its own native currency, BNB which currently has a market cap of $484.53.
Binance Visa Card is another unique feature that the platform offers, allowing traders to automatically convert their crypto to their native currency. On the other hand, LaunchPad and Binance Earn are also accessible for those who are interested. These allow traders to have alternate trading options, increase their capital on another platform, and many more.
eToro is another big name in the world of crypto. It was launched in 2007 as one of the earlier exchange platforms and offers various features for traders. The most popular is copy trading, where people can see the progress and trading patterns of other investors and use the same tactics.
The eToro platform also supports over 120 cryptocurrencies that can be accessed by their 17 million users. The fees are competitive and also offer more leeway to its traders. Moreover, the platform even offers free insurance.
Kraken is another crypto exchange site that could be a better option for experienced traders. Aside from the usual features that you can find in crypto exchange sites, traders can also enjoy a Cryptowatch option, Staking services, and even a Dark Pool for those who trade large volumes of digital currencies.
The platform offers 72 supported cryptocurrencies for trading. Plus, traders can also enjoy Kraken’s excellent security measures with various authentication and security measures being implemented.
With more than 18 million users and climbing, Robinhood is also a consistent exchange site used by many traders. Some of its popular features include free trading in US stocks and exchange-traded funds as well. Their mobile app also has great reviews and makes the trading experience better for its users.
The Robinhood platform has a limited number of cryptocurrencies available for trading, specifically 7 of them. These are Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic and Litecoin.
It is also suitable for the more experienced crypto traders out there to access the platform and make their way around the features. This is possible thanks to the mobile app and a streamlined platform where traders can perform recurring investments and exchange-traded funds.
Choosing a platform fit for your needs
Now that you know about some of the best platforms available in the market, it’s time to decide which one is best for you and your investments. There are some factors that you need to take into consideration:
Is the interface accessible and does it offer everything you need?
Both beginner and experienced traders like a platform that is easy to access. This ensures a smoother and more streamlined experience especially when you know where everything is and how the features work.
Another thing you need to consider is whether or not the platform offers the digital assets you’re planning to buy. The available digital currencies vary per platform, so it would be best to choose based on that. However, most exchange platforms support the most popular cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple.
Are the features a good fit for your investment patterns?
Similar to the supported cryptocurrencies, the features of each platform can vary as well. For example, one site could offer pair trading while the other doesn’t. Before choosing and creating an account, be sure to check if the features are in line with your trading patterns and needs when it comes to making investment decisions.
Are the fees reasonable?
Another factor that most traders consider when looking for an exchange site is the fees. These also vary depending on the platform, and some of the prices can be deal-breakers to most traders. Reading reviews on online sources is advised to get an idea of what to expect in terms of transaction fees.
Make the most out of your crypto investments in Casinodays
There are many ways to store and trade cryptocurrencies. You have your crypto wallets and payment apps to name a few. So, why should you consider using an exchange platform? Crypto exchange sites are popular because they support many cryptocurrencies. You can buy and sell your digital assets with ease on these platforms.
Plus, there are a lot of features and advantages that come with it as well. For example, you can link your account and deposit funds to an online gaming site like Casinodays. It has never been easier to use digital assets for anything nowadays.