Bitcoin? Ethereum? Are you familiar with these names? You should be because the world of cryptocurrency is booming, and the entrance to this thriving market is through trading platforms like Bitcoin and Ethereum.
You are maybe starting to see the potential gains the world of cryptocurrencies has to offer, and gearing up to convert your real money into altcoins.
Firstly, your primary goal needs to be betting on the right cryptocurrency trading platform that will be the most fruitful.
So the real question you need to ponder before landing on a platform: what steps do you need to take to select the right cryptocurrency exchange for you?
This is a question that occupies the minds of many altcoin stakeholders. Why? Because trading platforms can go down in flames often due to security breaches or even scams.
There isn’t a magic method to pinpoint and choose the best cryptocurrency trading platform that is free of any shortcomings and is also capable of meeting all of your needs. But when you want to pick a cryptocurrency trading platform, there are some measures by which you can assess the value and reliability of a platform.
– Make sure the website and platform are secure as safe trading should be your priority.
– Pay attention to high liquidity ratio.
– Be mindful of transaction fees such as scheduled processing fees and interest fees.
– Choose a trading platform that provides you with a history of all your transactions.
– Be familiar with the cryptocurrency pairs available for trading on the platform.
– Make sure the platform allows for a variety of payment methods for the purchase of cryptocurrencies, from credit card to PayPal.
– Heed the rating of the platform. Customer reviews speak volumes.
– Choose a user-friendly platform because ease-of-use is especially critical for beginners.
Here are four of the most reputable and reliable cryptocurrency trading platforms to consider:
Coinbase
Launched in 2012 in the capital of technology, San Francisco, Coinbase is a cryptocurrency platform that enables transactions of numerous altcoins among users and investors. Dubbed as the best exchange for cryptocurrencies such as Bitcoin and Litecoin, the platform has up to 11 million users with over 35 million wallets, hosting almost 50,000 merchants.
Kraken
With its headquarters located in San Francisco, Kraken has gradually but surely become one of the leading cryptocurrency trading platforms in the market since its launch in 2011. With its superior safety features, advanced order settings, and high liquidity ratio, Kraken provides users with a reliable cryptocurrency payment network with options like margin trading and fast funding.
Bittrex
A Las Vegas-based company, Bittrex allows users to trade a wide variety of cryptocurrencies and even some newer, emerging altcoins. The platform presently accepts over 190 cryptocurrency pairs and is known for its low-risk, speedy transactions.
BitFinex
Founded in Hong Kong in 2012 and now pushing to become the most comprehensive and high-level cryptocurrency trading platform, BitFinex enables fast and secure transactions in various cryptocurrencies such as Bitcoin, Ethereum, Ripple, and Zcash. With an iOS and Android app out, BitFinex also puts much importance on security, margin financing, and leverage exchanging.
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Posted on May 22, 2023