Crypto-trading platforms are exchange platforms which permit the interchange of a digital currency for another. It could also be the exchanging of a digital currency with fiat currency. The cryptocurrency market has witnessed the emergence of new trading platforms in the past few years. Though, not all trading platforms operate on the same basis with the same quality.
There are various kinds of crypto trading platforms which would help you get a grasp on how cryptocurrency trading works. It is important that as a cryptocurrency user, you make inquiries concerning the available crypto exchange platforms in the market.
Crypto exchange platforms have grown in leaps and bounds in the last two years. Crypto trading funds have also evolved as a result of targeting specific user markets. Investors in these funds avoid direct investment in coins and tokens, so that expert traders can do them the honors. For those who want to invest in digital assets devoid of making procurements, cryptocurrency funds are ideal for you. See also 14 major companies that accept crypto payments nowadays.
Traditional Crypto Exchanges
Another category is Traditional crypto exchanges. This category best fits people who are used to carrying out deals in the stock market. They operate on a similar basis, with the only difference being that Traditional crypto exchanges deal in cryptocurrencies as against fiat currencies. During the trade, a little percentage is charged as payment for their platform usage.
Crypto Direct Trading
Direct trading platforms is another crypto trading platform category. This platform enables you to carry out exchanges via the peer-to-peer basis. What they do is tallying your purchase and selling prices with the orders of other users. Once the amounts match, the trade takes place.
Crypto Brokers
The last category of cryptocurrency platforms is Crypto Brokers. Platforms of this nature give you the opportunity of dealing in cryptocurrencies in line with the broker’s prices. The cost of using these platforms is quite on the high side. Nonetheless, they are equally easy to use.
An aspect of crypto trade is the use of cryptocurrency trading bots. These bots are computer software which utilizes various market indicators to identify changes in prices. Once this is detected, trades would be executed automatically due to the fact that there are programmed settings fixed by the trader.
Crypto trading bots give you the ample amount of opportunities of setting certain needed parameters which would enable the bot to carry out trades for you. These are what knowledgeable traders use to perform their trades without pushing any buttons.
Below Are Top 6 Crypto Trading Platforms:
1. Coinbase
Looking for a reliable and user-friendly crypto trading platforms? Look no further than Coinbase! As the most popular platform in the market, Coinbase offers the unique advantage of investing directly with USD. With over 30 coins and tokens available including Bitcoin, Ethereum and Litecoin, Coinbase provides a diverse range of investment opportunities.
But that’s not all! Coinbase also rewards users with interest on their USDT holdings and offers token rewards for completing various activities. And here’s an extra perk: when you sign up for a new Coinbase account, you’ll receive a generous $10 bonus.
Why Choose Coinbase?
• Easy-to-Use Interface: Coinbase boasts the simplest and most intuitive user interface, ensuring a seamless trading experience.
• Extensive Token Selection: With a wide variety of tokens and coins to choose from, Coinbase caters to investors of all preferences.
• High Security and Trustworthiness: Rest assured that Coinbase prioritizes your security and maintains a high level of trust among users.
Few Drawbacks About Coinbase:
• High Fees: Unless you use Coinbase Pro, the platform’s fees can be on the higher side.
• Lack of Private Key Control: Users do not have direct control over their private keys within the Coinbase wallet.
• Slow Adoption of New Cryptocurrencies: Coinbase may take some time to adopt and support the latest trending cryptocurrencies.
2. Binance
If you’re eager to explore currencies like Cardano and Neo, Binance is an excellent choice. While it may not be as user-friendly as some of the other platforms, Binance offers one of the most powerful and feature-rich trading platforms available. Although the mobile app might pose some usability challenges, it still provides a decent trading experience. Give Binance a try today!
As an added incentive, Binance currently offers a bonus of up to 300 USDT when you complete qualifying activities within the first 30 days of opening an account on Binance.US.
Please note that Binance.us is the United States version of the platform and offers a limited selection of coins and tokens compared to the international version of Binance.
Why Choose Binance?
• Wide Range of Coins and Tokens: Binance supports an extensive collection of coins and tokens, providing you with ample investment options.
• Fast Transaction Times: Experience rapid transaction processing times on the Binance platform.
• Low Fees: Enjoy cost-effective trading with Binance’s competitive fee structure.
Few Drawbacks About Binance:
• Limited Options for U.S. Users: The U.S. version of Binance has fewer coins and tokens available compared to the international version.
• Restricted Availability: Binance is not accessible in all 50 states, so make sure to check if it operates in your area.
• Limited Customer Support: Binance may have limitations in terms of customer support availability.
3. Uphold
Are you tired of constantly going back to BTC or ETH when trading crypto? Uphold offers a simple solution that allows you to trade multiple assets without the hassle of converting to cash. With Uphold, you can open one account and directly trade a wide range of coins and tokens.
Enjoy the convenience of trading various assets, including XRP, DOGE, and more, on Uphold—one of the few exchanges that supports these popular tokens.
Why Choose Uphold?
• Straightforward and transparent pricing structure
• Extensive selection of crypto tokens and even stocks, such as XRP
• Accessible through both desktop and mobile apps
Few Drawbacks About Uphold:
• User-friendliness may not be as high as some other platforms
• Reports of inconsistent customer service
4. Kraken
As one of the original crypto trading platforms, Kraken offers a comprehensive range of coins and tokens for trading and investment purposes. It even supports margin trading, providing advanced options for users. However, it’s worth noting that Kraken is a robust exchange and may require a bit more familiarity to navigate compared to the top platforms on this list.
Kraken stands out by allowing trading of DOGE and other potentially more volatile tokens, offering unique opportunities for users seeking diversification.
Why Choose Kraken?
• Long-standing reputation as a reliable crypto exchange
• High level of security and trustworthiness
• Wide variety of cryptocurrencies and tokens available for trading
Few Drawbacks About Kraken:
• Slightly steeper learning curve for new users
• Some difficulties reported with two-factor authentication (2FA)
• Occasional feedback regarding customer service issues
Please note that Kraken provides a limited selection of coins and tokens to customers in the United States compared to its international offerings.
5. Gemini
Gemini is a well-established exchanges in the crypto world. Gemini has earned its reputation as one of the leading exchanges for crypto investments. As one of the first major exchanges, it boasts a solid track record and has grown to become one of the largest exchanges by assets. With Gemini, you can invest in a wide range of major cryptocurrencies, and if you qualify, enjoy competitive interest rates on your assets.
Opening an account with Gemini comes with an enticing offer: you can earn $15 in BTC by simply trading $100 in crypto. This platform is known for its user-friendly app-based interface, making it incredibly easy to navigate and manage your investments. Whether you’re a beginner or an experienced investor, Gemini offers a seamless and intuitive experience.
Why Choose Gemini?
• User-friendly app-based interface for easy navigation
• One of the largest exchanges in terms of assets
• Extensive support for major cryptocurrencies
Few Drawbacks About Gemini:
• Limited payment and deposit methods available
• Mixed customer service experiences reported
6. Bitstamp
Founded in 2011, Bitstamp has emerged as one of the oldest and most reputable cryptocurrency exchanges. With over a decade of experience, Bitstamp has solidified its position in the market. It offers a diverse selection of over 70 tokens that you can trade, ensuring you have ample options to diversify your portfolio.
Bitstamp operates on a volume-based fee structure, which means you can enjoy competitive fees as you trade. Additionally, it allows you to buy crypto instantly using your credit or debit card, making it convenient for quick investments. The platform also offers a robust mobile app, enabling you to stay connected and manage your investments on the go.
Why choose Bitstamp?
• Established as one of the longest-running cryptocurrency exchanges
• Wide selection of 70+ supported tokens for trading
• Low fees, ensuring cost-effective transactions
Few Drawbacks About Bitstamp:
• Staking features may not be available to all users
• Limited assets eligible for earning staking rewards
In conclusion, the crypto trading platforms listed here offer reliable and feature-rich platforms for investing in cryptocurrencies. Whether you prioritize user-friendly interfaces, extensive token options or low fees, these exchangers have got you covered. Assess your investment goals and preferences before choosing the platform that aligns with your needs to embark on your crypto investment journey.
