Estimated reading time: 7 minutes

The current could be dedicated to the rise and fall of crypto markets as per usual that created hundreds of thousands of millionaires while robbing some investors of their capital in the process. Either way, the rapid adoption of cryptocurrencies does not seem to slow down any time soon after Bitcoin, the largest cryptocurrency according to market capitalization, broke through its all-time-high value. People using the best forex EAs flocked towards bitcoin trading platforms to get even a fraction of the world’s first and most valuable crypto.

It has become somewhat a standard among people such as crypto enthusiasts, and experienced investors around the globe to invest in crypto and trading on the best bitcoin trading platforms. But unfortunately, making a fortune is not that easy when we’re discussing cryptos. These highly volatile digital assets with fluctuating market values can shift the paradigms in the blink of an eye. That is why crypto traders always need to keep a watchful eye on the market prices if they are not going by the old strategy for “HODLing”. 

Now it is time to get acquainted with some of the best ones available in the crypto market right now. Note that each of the following trading platforms is one of the most popular exchanges out there that have been functional for years and maintained a winning track record through the tests of time.

Coinbase: The most secure trading platform

For almost a decade, Coinbase has been a dominant player in the crypto world which is still considered a trustworthy trading platform. With more than 73 million verified users and $327 billion in quarterly trading volume, there is no doubt that Coinbase is worldwide famous.

Features:

  • Coinbase supports not one or two but a total of 38 different currencies.
  • There is fiat currency support available for users of this trading platform.
  • The user interface is not only professional but also quite intuitive to help new sign-ups.
  • Security features of Coinbase are top-notch and its excellent wallet app makes things even better.

Binance: The biggest fiat-to-crypto exchange

Binance is a company that started during the boom of cryptocurrency back in 2017 has now transformed into one of the most talked-about crypto exchanges in the world. Binance has a reputation for being the most trusted and blindly supported by its loyal customers throughout the world. Binance offers a plethora of services as well and has created more of a crypto ecosystem around its project including its own digital currency BNB.  

Features:

  • High safety standards bring people to Binance and low transaction costs is what they stay for.
  • More than 150 coins are available to trade which includes popular coins depending on their demand in the industry
  • It also has an easy to use mobile app.

Gemini: The best mobile-based crypto trading platform

Gemini exchange has been around since 2014 and experts have seen it develop from a simple trading platform into a true crypto industry powerhouse. This New York-based company offers several quality services for example trading crypto, storing digital assets, and even payment solutions. But the popularity of Gemini among crypto traders is all thanks to its top-grade and professional mobile trading app.

Features:

  • Gemini experienced high trading volumes which means there are countless opportunities to profit.
  • This exchange supports an advanced trading interface called ActiveTrader which is said to be the best.
  • Up to 57 different cryptocurrencies are available to trade.

eToro: The most suitable platform for newbies

eToro is commonly known by forex and other traders as one of the best social trading platforms in the world where registration and other important features are easily accessible. But if you are looking for a trading platform that suits beginner level crypto enthusiasts then eToro is a great place to start.

Features:

  • It charges low trading fees which is beneficial for those who have just started trading crypto.
  • Crypto traders get the account features of CopyTrader and virtual dummy account to make progress easily and quickly.
  • The platform supports a total of 15 different cryptocurrencies.

Kraken: Popular choice of experienced traders

Kraken is an old and reliable name for those who have been associated with bitcoin since 2011. Since its launch, this trading platform has remained unhinged by the tests of time and survived many crypto slumps. Seasoned players turn to Kraken for its high liquidity, exceptional features, and process for handling orders.

Features:

  • Kraken support almost 58 different cryptocurrencies for trading.
  • There is fiat support available on this trading platform.
  • One-on-one support is provided to users on its versatile mobile app.
  • Kraken trading fees have always been competitive.
  • Several popular transactional methods are supported for easy deposit and withdrawal on Kraken.

Finding the best bitcoin trading platform

When we say bitcoin trading platform, we do not mean a place that is specifically made for Bitcoin only. But a trustworthy entity that supports several other reputed crypto projects as well. It is no less than a challenge to finally find a platform that one could trust with their hard-earned digital assets. In case you pick the wrong one, it would result in a total loss from an investment point of view for traders. It does not matter whether you are into bitcoin mining or have started investing in bitcoin for the first time, the following criteria are able to help you find the right bitcoin trading platform. 

  1. Security Features

If you have ever followed the news regarding crypto then you must have an idea about how in the past few years, hackers and scammers have been on the rise. These bad actors do not always target innocent and inexperienced bitcoin traders but also manage to mislead seasoned investors using their antics. 

Several big scale bitcoin trading sites and exchanges have been hacked as a result of lax security protocols. Therefore, it should be a priority for anyone who is looking for the best bitcoin trading platform to base their search on security measures.  

  1. Deposit/Withdrawal Methods

Just like in forex, crypto trading sites offer transactional features so that traders can easily deposit or withdraw their digital assets without worrying about the method. But it is important to keep an eye on how many transaction channels are supported on the trading platform you have chosen to trade bitcoin.

The method of deposit and withdrawal should be hassle-free and available 24/7 for example debit/credit cards that offer an extra layer of security. Bank transfers also work conveniently if the trading platform supports that method but not many bitcoin trading platforms allow direct bank transfers.

  1. Currencies Supported

A bitcoin trading platform must also support other cryptocurrencies as well because it is an inconvenience for crypto traders to always deal with bitcoin rather than altcoins. Fortunately, most bitcoin trading platforms and crypto exchanges do list and support different types of altcoins and keep adding new ones on the basis of demand within users.

Make sure that before you sign up for a trading platform, you have checked how many other cryptocurrencies are supported by that particular exchange. It would be a bonus feature to find a trading platform where you do not only get other cryptocurrencies than bitcoin but also fiat currency. 

  1. User Interface

When you trade on an expertly-developed trading platform, you can effectively avoid several performance-related issues and enjoy a positive experience that reflects in your trading account. For someone who has never traded crypto using a platform before, it goes without saying that the end result depends completely on the user interface of that platform.

Digital currency exchanges are too confusing for first-timers to make out and if the user interface turns out to be clunky then things might not go too well for the newly signed up traders. Only the best trading platform presents important information in a way that is easy to understand.

  1. Customer Support

No matter how perfect a trading site is, one could run into some unexpected issues during the course of trading and feel the need for assistance that could be provided by a reliable customer support channel. Fortunately, almost every top-tier bitcoin trading platform offers customer support service to help the users out.

But ensuring that these help channels remain open and active 24/7 is more important than anything. The overall quality of the customer service provided depends on the knowledge, methods, and availability of the people working to provide support. 

  1. Fees

Like banks, brokers, and other financial institutions, bitcoin trading platforms are not free services but they make money through the fees paid by users (mostly as an exchange rate). But even if you are not into full-fledge trading crypto, you might still have to pay several other unavoidable fees to continue using the services.

At times, the total fees could make up an amount that is even higher than the value of the crypto transaction you have executed. To avoid this and keep your expenses at a minimum, look for a trading platform that has fewer mandatory fees.

Also Read:
~ News4masses is now also on Google news
~ If you want to contribute an article / story, please get in touch at: news4masses[at]gmail[dot]com

RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.