You will undeniably find cryptocurrency frustrating at first. You will encounter new things day-in-day-out. You may come across frequent alerts about individuals losing substantial funds because of crypto scams. True enough, investing safely in the crypto market has its share of downsides.
The first thing you need to consider before purchasing your cryptocurrencies is your security and safety. For that reason, select exchanges that will provide you a secure trading space. Though finding a reliable broker might be frustrating, you can filter to find a legitimate platform for money-making deals.
However, keep in mind that the exchanges you will meet differ in many ways. Some platforms will suit given traders, while with others, you can trade regardless of your crypto expectations. However, which exchanges rule the crypto market as far as cryptocurrency trading is concerned for now? You can go with these options.
Best Cryptocurrency Exchanges
Coinbase
Among the crypto exchanges in the industry is Coinbase, a leading cryptocurrency exchange based in the US. The platforms started operating in 2012, shortly after Bitcoin’s launch in 2009. The best thing is that the crypto exchange allows handling your trading activities in a safe crypto environment. After all, what would you expect from a fully licensed and regulated crypto exchange? At the moment, you can access Coinbase services from 40 states in the US.
Coinbase ensures that you experience no challenges with its easy-to-use services. That lowers the market-entry barrier. Most individuals find it challenging to enter the crypto space due to complicated entry procedures. You will enjoy several advantages with this broker serving traders and investors across the globe.
Pros
- A wide variety of tradeable cryptocurrencies.
- An easy-to-use interface.
- High liquidity.
Cons
- You might incur high fees if you do not utilize Coinbase Pro.
- You are not in control of the wallet keys.
- Binance
Binance is another crypto exchange that you can trust for your altcoin undertakings. Keep in mind that you may incur transaction charges when using this exchange. Binance has been offering top-class cryptocurrency services, regardless of it being here for not more than five years. With this exchange, you can access more than 100 varying trading pairs from different crypto markets. Also, you can trade as many fiat pairs as you want.
If you want an exchange that allows you to interact with many tradeable instruments, you can never be wrong with Binance. The cryptocurrency exchange embraces diversity in all its tools and features.
Binance proves to be the best in terms of daily trading volume as of this year April.
Pros
- Lower charges than other popular exchanges.
- Many trading pairs and cryptocurrencies.
- Advanced charting
Cons
- Suitable for advanced traders.
- Binance does not support seven states in the US, including Texas and New York.
- Bisq
It is among the best decentralized exchanges you will find in the crypto market. To use this decentralized crypto exchange, you will have to download its trading software. The broker is non-custodial, meaning your fees will always be safe from third-party access. That differs from exchanges such as Coinbase, which will control your funds.
You can access Bisq instantly using your smartphone or laptop since it does not require KYC or registration processes. Are you are among those who do not have government-issued IDs? You can rely on this exchange.
Bisq provides you with multiple fiat currencies, such as the US dollar. Moreover, you can deal with many cryptocurrencies, including bitcoin. Although with slow transactions and lower trading volume, some crypto investors find it worthwhile.
Final Thought
Whenever in the financial markets, make safe and informed decisions if you want to get returns. Keep in mind that your exchange selection will impact your trading results. For that reason, research and pick the best crypto exchange depending on your trading expectations. Indeed, you will find many platforms with different services and features. You can go through the above crypto exchanges to see whether they match what you want from the crypto market.
