The best cryptocurrency exchange has many positive aspects around trading and investing in digital currencies. These crypto platforms comprise several unique attributes and all-around features. Binance, for example, is one of the best cryptocurrency exchanges with over fifty coins and low transaction fees. Similarly, Coinbase tends to be the best trading platform for new investors. Credibility, security, and ease of use are the necessary factors that make a cryptocurrency credible. In this post, we shall review the top FOUR cryptocurrency exchanges to use this year.
Top Four Cryptocurrency Exchanges
Binance primarily emerged in China in 2007 and is now operating from Malta. It is among the most popular cryptocurrency trading exchanges worldwide. Binance launched its franchise in San Francisco for US investors and traders in 2019. With Binance, you can sell, purchase, and trade digital currency by paying 0.1% on trading transactions.
The trading platform offers numerous payment options like bank transfers or deposits and debit or credit cards, allowing you to select one according to your requirements. It enables you to stake your cryptocurrency for a given period and earn money with an interest rate varying between 0.5 to 10 percent. Binance provides security measures, such as insurance and Two-factor Authentication, to help you protect your digital holdings.
No cryptocurrency exchange is better to start cryptocurrency trading than Coinbase. With this exchange platform, you can see all your digital coins under one platform. It has a simple user interface for new crypto traders. The cryptocurrency exchange arrived in California in 2012 and has 30 million users from 103 different countries all over the world.
Coinbase usually caters to new traders who want to trade in cryptocurrency. Beginners can also learn the ropes and avoid being overwhelmed by complex data and graphs on their computer screens.
Like Binance, this cryptocurrency exchange accepts payments through bank deposits or transfers, credit or debit cards, and PayPal.
Coinbase charges a few expensive fees varying from $0.99 to $2.99 per purchase transaction under $200 with an additional 0.5 percent fee according to the amount used. The crypto platform also offers FDIC insurance for users with 98 percent of funds available in the cold storage to compensate for their loss because of the company’s failure. It means you still have the chance to lose 2 percent of your funds in case of hacking or stealing.
Known for the best customer support, Kraken has excellent security features, a modern and easy user-friendly interface, and a reputable site. The cryptocurrency exchange deals in seven fiat currencies like US dollars and fifty-plus cryptocurrencies. Kraken is not suitable for beginners. The US-based exchange came into existence in 2011. It offers over 50 digital currencies to trade on the platform. Kraken has starter, intermediate, and pro account packages.
The starter account allows you to deposit, exchange, and withdraw cryptocurrency as per your requirements. The crypto exchange charges average fees between 0.9 to 1.5 percent depending on your trading size. It makes Kraken one of the cheaper cryptocurrency exchanges with a good reputation. On the downside, a slow exchange account verification process and poor customer support are some of the drawbacks of the cryptocurrency exchange.
This Israeli crypto platform debuted as a social trading exchange in 2007. E-Toro has 17 million users worldwide, spread over 100 countries. With headquarter in London, the company launched in the USA as a cryptocurrency exchange only. Today, e-Toro has a reputation as the best platform for crypto and Forex trading.
The e-Toro offers six cryptocurrencies like BTC, ETH, XRP, LTC, and XLM. While the number of crypto coins is not significant, they are among the biggest cryptocurrencies that most investors want to trade. You can get a bonus value of $50 on a purchase of $1,000 from the e-Toro. However, the exchange has a high trade fee, varying from 0.75% to $2.90%, depending on the trading size.
You can only use USD to deposit funds on the e-Toro, which takes about a week to transfer into your account for use. There is a fee for every foreign currency deposit and withdrawal. e-Toro is a reputable cryptocurrency platform. It has a simple and user-friendly interface that makes trading the biggest cryptocurrencies an enjoyable process.