7 Best Cryptocurrency Trading Platforms
Cryptocurrency investment has become one of the most attractive options for traders globally. Hence, they always seek the best crypto trading platforms to execute their plans. Cryptocurrency exchanges are the best route to start crypto trading. So, we will introduce you to the 7 best cryptocurrency trading platforms moving on.
Crypto brokers are available almost everywhere, so you can find one near you quickly. Moreover, the decentralized nature of cryptocurrencies makes them ideal for unbanked traders to have a go with it.
However, selecting a suitable exchange from multiple crypto trading platforms is the key to making or breaking. Moreover, investors must check security, fees, number of tradable coins and customer service facility before selecting any trading platform.
So, to ease your decision, let us look at the 7 best cryptocurrency trading platforms.
Binance
Binance is the world’s leading crypto trading platform and has developed a reputation of trust and thus is among the 7 best cryptocurrency trading platforms on our list. Binance has developed a mobile app to support hassle-free trading on the move. Meanwhile, users can grab a $10 bonus if they trade $100 within 30 days of opening their account.
Binance has a separate crypto trading platform for U.S. traders – Binance.us. However, it supports hundreds of cryptocurrencies, thus making it an ideal venue for new and seasoned traders.
Pros
- Low fees
- Fast transaction speed
- A large number of supported token
Cons
- Limited service in the U.S.
Coinbase
Coinbase started trading Bitcoin in 2012; fast forward to today, and it is one of the biggest crypto brokers with a total market value of over $16 billion. It is the perfect platform for beginners, as the signup process is simple.
Moreover, Coinbase ticks all the boxes of the best crypto trading platform, including security, a range of supported cryptocurrencies, a user-friendly interface, and advanced features. Likewise, its app is similar to any other banking app, thus making the transition to crypto easy for newcomers.
Pros
- High liquidity
- User-friendly interface
- A large number of cryptocurrencies and trading pairs
Cons
- Custodial account
LBank
LBank is a Hong Kong crypto trading platform formed in 2016. Although its focus is on Asian markets, it also serves global clients. The main objective of the LBank is to deliver digital asset management with a high level of security.
The platform specializes in offering beginner to advance level cryptocurrency trading options. Moreover, it allows certified users to make transactions in a P2P environment. Likewise, it has a mobile app to support users in making hassle-free crypto trades.
Pros
- Global availability
- User-friendly interface
- A high degree of privacy
Cons
- Lacks English language support
Kraken
Kraken is ideal for experienced traders who want to engage in advance levels trading options like margin and futures trading. It is a trusted name that supports over 200 cryptocurrencies and charges a low fee on its professional trading app – Kraken Pro.
Moreover, Kraken has a dedicated dashboard offering crypto price details, thus making users’ decision-making easier. Although the trading fee of 1.5% is high, its professional portal has less cost and provides more features. Likewise, it has limited payment options, with wire transfers as the primary payment source.
Pros
- Highly liquid crypto exchange
- Low fee on Kraken Pro
- A large number of supported cryptocurrencies.
Cons
- Available in limited U.S. states
Gemini
Gemini is well known in the crypto trading space as one of the best exchanges for security. Its robust security protocols and SOC 2 ensure users’ digital assets are safe. Moreover, it requires users to go through the KYC process to avoid the potential for fraud.
Gemini also has 2-factor authentication to add a layer of security. Moreover, it provides a professional-grade dashboard and supports more than 100 cryptocurrencies. It has different pricing plans depending on the trading volume of a trader.
Pros
- Robust security
- Highly liquid exchange
- Available all over the U.S.
- Funds insurance facility
Cons
- High fees
Cash App
Cash App is amongst the 7 best cryptocurrency trading platforms as it allows secure buying, selling and storing facility of Bitcoin from your smartphone. It is a must-have app if you like trading on the go; moreover, its peer-to-peer trading offers peace of mind. Likewise, it supports the trading of crypto stocks and ETFs.
Although users are concerned over Cash App’s custodial nature, since it supports easy withdrawal, thus it is maintaining a solid customer base. Moreover, its trading varies and is available only when transacting.
Pros
- User-friendly interface
- Easy withdrawals to wallets
- Supports Bitcoin Lightning Network
Cons
- Only supports Bitcoin
BitMart Exchange
BitMart is ideal for those traders who intend to diversify their portfolio and want to experience lesser-known altcoins. The platform supports more than 1,000 cryptocurrencies, thus making it an all-type crypto trading platform. Moreover, it operates in more than 180 countries.
Furthermore, it has established itself as one of the best crypto trading exchanges for small and mid-cap cryptocurrencies. Likewise, its users can earn interest by holding cryptos with the platform and making passive income. It has also launched its native token, BMX, which rewards users.
Pros
- Supports lesser-known cryptocurrencies
- Supports more than 1,000 cryptos
- Provides crypto-earning opportunities
Cons
- Poor customer support
Frequently Asked Questions
How much money do I need to start my crypto trading?
You only need as little as $5 to start your crypto trading on all of the platforms mentioned above.
What are features important to look for in a crypto platform?
The following are essential factors to consider in a crypto platform.
- Fees
- Security
- Customer service
- Ease-of-use
- Number of supported cryptocurrencies
How many crypto exchanges are there?
As of January 2023, CoinMarketCap lists more than 240 crypto exchanges.
Parting Thoughts
Investing in cryptocurrency is not a secret anymore; the market is full of service providers and seekers. Thus, selecting a platform that resonates with an individual’s requirements is vital to long-term success. Therefore, we discussed the 7 best cryptocurrency trading platforms.
These exchanges have their plus points, like Coinbase is ideal for beginners, Kraken is more suited for experienced traders, and Gemini is best for security. Thus, the choice is solely dependent on the trader and his preferences.
Thus, we suggest setting your inclinations like security, fees, trading options and supported digital assets first. Rest assured; these crypto platforms will not disappoint you as these are trusted names in the market.
That concludes our discussion on the best crypto trading platforms, and please leave feedback in the comments section. Also, let us know what your go-to platform is.