Cryptocurrency exchanges are online platforms that allow crypto investors to trade various cryptocurrencies or digital currency for various assets. These various assets can be things like conventional fiat currencies or even other digital currencies.
The virtual space consists of many exchanges that all offer trading services to crypto traders looking to exchange their digital currencies. Therefore, at times, it can be challenging to find a suitable platform to trade on. So, just as bettors can find guidance in NBA lines, odds, and spreads for their next bets, here’s a beginner-friendly guide on the best cryptocurrency exchanges you can find online.
Leading Cryptocurrency Exchanges
Coinbase is one of the leading crypto exchanges when it comes to being a beginner-friendly option. With an intuitive layout, straightforward purchase process, and user-friendly interface, it’s ideal for any inexperienced trader that’s looking to find a credible and reputable platform to start on.
There’s a broad assortment of resources to learn from covering various topics like blockchain, robust security features, and volatility. It also offers traders hundreds of cryptocurrencies to trade, making it an ideal option for those who are looking to grow their trading portfolios.
Coinbase is a well-known exchange platform, especially in the United States, where it’s regarded as one of the largest online platforms. For traders that are just starting, the platform offers a simple onboarding process that introduces new traders to the market.
Thanks to its user-friendly interface, you’re able to navigate your way around the platform with ease. For more experienced traders, the platform can offer more advanced charting and trading features on Coinbase Pro.
Both Coinbase and Coinbase Pro feature exceptional security elements that are certainly worth mentioning, like their ability to store 98% of your crypto offline, allow for two-factor authentication and offer an insurance policy that protects custodial accounts.
But because of the robust measures that are put in place to provide traders with a safe and secure platform to trade on, you can expect to find higher fees when it comes to transactions.
Binance.US is an ideal cryptocurrency exchange platform for traders looking for a platform that offers low fees because it has a generous fee structure across all of its trading platforms that offer highly affordable conversion fees.
Aside from being one of the largest crypto exchanges in the world with many parent companies, it offers a competitive maximum maker or takes a fee of 0.1%. In addition to this, traders are also offered discounts for using the BNB proprietary cryptocurrency whenever they buy and sell other coins.
The platform offers advanced data graphs and trading charts. Advanced traders can find the platform to be enjoyable because of its margin trading, comprehensive market dashboards, and various order types.
But despite it offering high-speed trade executions, it’s worth noting that the platform is limited in the area of coin variety when it comes to its international version, and not all states in the US support it.
Crypto.com is another leading crypto exchange that’s known for offering the best security through its outstanding cybersecurity infrastructure. Thanks to the multi-layer protection against cyberattacks and fraud, the platform is so reputable that it ranked first among the top 100 on the Cybersecurity Ranking and Certification Platform.
Crypto.com is known to use various techniques that can keep your crypto assets secure on the platform. Here, you have the option to use offline cold storage, regular software peer-review, and custodian bank accounts for your traditional currencies that are regulated.
It also uses passwords, email, authenticator verification, biometrics, and phones for its multi-factor process of identification. Plus, it has successfully completed many penetration tests that are described as simulated cyberattacks executed to evaluate the security systems on a platform.
With low charges on accounts being funded through cash transfers and a large variety of crypto assets to choose between, another noteworthy feature to also mention has to be its non-custodial DeFi wallet. This feature allows you to earn interest on tokens and send crypto at preferred speeds.
It’s worth noting that the platform is expensive for traders that wish to purchase their cryptos using credit and debit cards. Not all the services are available in the United States, and there’s no option for crypto-to-crypto trading.