Best Platforms to Buy and Trade Your First Crypto
Cryptocurrency has been a trend in investment for well over a decade. Due to the attention it has gotten, it has brought tight competition among the many crypto exchange and trade platforms that exist in the industry.
Cryptocurrency is a highly volatile investment and carries a lot of risks, especially to new traders. This is one of the main things that new traders have to understand. Do your research on the platforms that you are interested in before actually buying their first crypto on that platform. This way, you can lessen the risks that your investment will carry.
Knowing the services offered in the platform, the kind of technology it runs, the fees that you will pay in your chosen platform will help decide whether the platform is really for you. Why? Because you have to pick and go for a platform that secures your investment as well as make a profit out of it.
To help you out, this article has compiled five of the best crypto exchange and trade platforms in the market. By the end of the article, you will get a good basic knowledge of each of the platforms in the list and may you find the platform which is well suited for you and can help you reach your financial goals in your crypto investments.
Let’s get started!
Five of the Best Crypto Exchange and Trade Platforms in the Market
- Immediate Edge
Let’s get to know more about each of these platforms one by one.
Let’s start with one of the most reliable trading platforms in the crypto market, which is Coinbase. The platform deals with a wide range of clients globally, and its numerous users speak well enough of the success it has experienced well over the years.
Now, let us get into why it became such a successful platform. Coinbase not just actually deals with over 50 different types of cryptocurrencies but also other digital assets. It is also a platform for different types of traders that comes in three types of versions. It has its original version, Coinbase, for beginners that has an easy to work out user interface. While it has the Coinbase Pro for expert and experienced traders that offer more trading tools and trading bots, the interface is more sophisticated but still attempts to be as consumer-friendly as possible. The third and the last version is the Coinbase Prime which is a version aimed at institutions and the corporate market.
Now let us get to know another well-established platform that has gained a lot of success behind its year of experience in the market, the Immediate Edge. The platform is known for creating great connections between its users and brokers. Automatically when someone registers in the platform, an experienced broker is assigned to the user. The platform works out this service to assist their users as they get established in the world of crypto trading and to help them avoid scams and frauds as well.
It is also known for its claims of 90% accuracy in trading. It means that the algorithms utilised by the platform assure the users that in every ten trades they do, they’ll be successful in nine of them. However, we suggest that you should be careful with these claims as everything that happens with the crypto market is not fully in your control. The platform also uses 15 different trading strategies that attempt to take advantage of the fluctuating crypto market prices. The strategy is aimed to get profits from the small price discrepancies that continually happen in the market. And since volatility is always present in crypto, there will always be chances at profits, sometimes losses.
Let’s now move onto OKEx. The cryptocurrency market has always been feared for being too unregulated. However, if you want your cryptocurrency to be safe and be protected by a firm regulatory framework, you should go for OKEx. This is the reason why the platform has become one of the leading platforms in the crypto market and has always been a good option for traders to start their trading journey.
The platform was actually under the name Bitfinex when it started, which is a cryptocurrency exchange under the iFinex Inc. Currently, the platform is available in 52 countries and is offering cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, Monero, NEO, and many other altcoins.
Another well-known platform is Kraken. The platform is a US-Based company that has well over 60 different cryptocurrencies available for trading. And that is not the extent of the investments one can do in Kraken, the platform is also known for stock trading.
It is a big company with a lot of acquisitions. There are over 300 financial markets on the exchange, and each offers different trading options. Another positive thing you can experience on the platform is the option for margin trading, and the tools for doing this are made available on the platform.
Last on the list but surely not the least is Binance. Binance is a well-secured and user-friendly platform. That is a very good option for new traders who aim for security and stability in the crypto market. The platform provides a wide information library on the crypto market that users can use to learn more about cryptocurrency, the basics, how it works, and tips on trading.
It was named as one of the biggest crypto exchanges in terms of trading volume. This just goes to show how much trust the platform receives from its users. However, due to the higher security specs the platform provides its users, the cost it requests from it is much higher than other platforms.
This article has just compiled a list of the best cryptocurrency exchange platforms that exist on the market based on services, security, and user interface. There will be other great platforms out there in the market, you have a wide range of options, and it’s up to you to decide which platform to go for. However, always keep in mind that you shall choose the platform you will register in based on how it caters for your financial needs and goal as well as your skills and experience as a trader.