Cryptocurrencies are a very tricky thing when it comes to investing in them. Though it has its own perks in terms of investment and returns, it is equally risky as well. When you are looking for cryptocurrency investment and want to buy or trade it, it can be very intimidating at first. Once you start looking for platforms to trade cryptocurrency, you will get a number of options; each one with some flaws as well as with some advantages. With a variety of options available, it can be confusing to choose one out of them. So, to make it easier for you we have researched and made a list of the top 5 cryptocurrency trading platforms. Take a look at them.
Top 5 cryptocurrency trading platform for 2021:
1. Etoro: best for beginners
Etoro is an Israeli social trading brokerage company that provides financial and copy trading services. It is considered one of the biggest platforms in the world for crypto exchanges. Worldwide it has more than 18 million users and over 20 million crypto transactions. Etoro is one of the most secure crypto trading platforms supported by more than 140 different countries.
Source: hedgewithcrypto
14 most popular cryptocurrencies offered by Etoro are as follows:
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Bitcoin (BTC)
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Ethereum (ETH)
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Ethereum Classic (ETC)
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Litecoin (LTC)
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Cardano (ADA)
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Neo (NEO)
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Dash
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Bitcoin Cash (BCH)
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Stellar Lumens (XLM)
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EOS
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IOTA
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TRON
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ZCash
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Tezos
You can have access to Etoro through the web version as well as by the mobile app. Read more.
2. Coinbase: best for new investors
Coinbase is a USA-based online platform that is utilized to buy, sell and store cryptocurrency. It is a well-known and well-utilized digital currency exchange in the United States. Coinbase is user-friendly, and that is why it has become one of the world’s biggest crypto-broker exchanges, especially for Bitcoin. While the cryptocurrency industry always has a close relation with fraudulent coins and shady exchanges, Coinbase has distanced itself from any such controversy.
Source: Coinbase
Coinbase also has a Coinbase Pro version with features that advanced users want. It has a cheaper fee structure and significantly more options in terms of charts and indicators.
Features a Coinbase user gets:
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They can keep track of crypto exchanges in one place
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The app is available for both iOS and Android devices
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They have the option of scheduling currency trading on a daily, weekly, or monthly basis.
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Your funds are stored in a vault for safety purposes.
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Very high liquidity
Click to visit the Coinbase website.
3. Binance: best for trading altcoins
Binance is a powerful platform for trading various cryptocurrencies with 1,400,000 transactions per second and over 2 billion in average daily volume making it the largest cryptocurrency exchange in the world in terms of trading volume. Binance offers low transaction fees and some of the lowest prices in the industry. It only charges clients 0.1% on each trade, deposits are free, but withdrawals cost money. However, using BNB, the Binance-owned digital currency will get you a 50% discount.
Source: Google Play
Binance is popular mainly because of the wide range of cryptocurrencies it offers, including notable coins such as Ethereum, Litecoin, and the lesser-known Zcoin. Binance is highly recommended to people who want to trade or invest in lesser-known altcoins.
Features:
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Wide variety of crypto assets to trade
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You can buy crypto with a bank account, credit card, or crypto transfer
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High liquidity
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Fees on crypto trades are very low
Must-read: All About the Bill for Banning Cryptocurrencies
4. Bisq: best-decentralized exchange
Bisq is a safe, private, and decentralized open-source desktop application that allows you to buy and sell bitcoins in exchange for national currencies or other digital assets. There is not any registration process in Bisq which makes it easily accessible to anyone with a computer or smartphone. It offers trading of several fiat currencies including USD as well as Bitcoin and various other cryptocurrencies.
Source: Blocktrainer
As per paying fees using bitcoin, trading one bitcoin cost 0.10% on the maker side and 0.70% on the taker side. The cost becomes half when paying the fees in BSQ, and it takes 0.05% on the maker side and 0.35% on the taker side to trade one Bitcoin. Bisq uses peer-to-peer networking, which means it has no central point of failure and cannot be taken down.
Features:
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It is a decentralized, non-KYC platform
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It offers 30 different payment options, including Zelle
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Offers mobile app for Android as well as iOS
Recommended: Why 2021 Is Set To Be Even Bigger For Bitcoin?
5. BlockFi: best for cryptocurrency investing
BlockFi is a secure platform that bridges the gap between cryptocurrency and traditional finance. It gives a chance to earn up to 8.6% interest on your holdings, borrow cash, and buy or sell crypto.
Source: blockfi.com
Besides, there aren't any hidden fees and minimum balances required for BlockFi users. Apart from that, it also allows you to earn money on all crypto you hold on their platform. This means as soon as a trade is executed, your new crypto asset will start earning interest the very next day. One more unique feature that BlockFi users get is that it lets you borrow against your coins so that you can easily take loans in U.S. dollars when you need funds, Rather than selling them in a down market.
Features:
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Buy cryptocurrencies and earn up to 8.6% interest
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Borrow cash using cryptocurrency as collateral
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Best cryptocurrency exchange for long-term investing
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You can manage your crypto portfolio from any device using the app
Factors to consider before choosing a cryptocurrency trading platform
Cryptocurrencies trading has indeed made many a billionaire and gave nothing to many a well. Getting good returns on investment is not just about luck but also how well-researched you are. If you also want to try your hands on cryptocurrency investment and looking for a trading platform, here are some things to consider. Read more.
We, at OpenGrowth, are continually looking for trending startups in the ecosystem. If you want to know any further information about the startup ecosystem or have any mind-boggling ideas, do refer to our other blogs.
