A cryptocurrency is a popular form of digital payment that has been evolving ever since it made its debut in 2009. While it may be intimidating or confusing at first but once you understand the market, you will be able to make some promising profits through your investments.
Before you make your first crypto purchase you need to choose a reliable crypto trading site where you can buy, sell, and hold your assets. Without this platform, you won’t be able to invest and make money out of your investments.
Each platform offers a variety of features such as trading fees, exchange rates, security, customer support, and many more. These reviews by Best Crypto Exchange Australia will help you find the perfect platform according to your needs.
However, in this article, we will look at the top 5 cryptocurrency trading and exchange sites that are credible and reliable.
Coinbase
Coinbase is the most popular and the best exchange in the world. People have been using this trading platform since 2012 that has a high trading volume and security features. If you are a beginner, coinbase is an excellent platform for you to start your investment.
The platform has an extremely user-friendly interface that allows you to see everything you need without any hassle. Coinbase allows users to trade and invest in bitcoins and altcoins easily, along with several other digital currencies. Although you may experience high trading fees compared to other platforms and have limited payment options.
While Coinbase offers many benefits, it does come with custodial wallets where users do not own their unique private keys. The reason is that Coinbase stores your assets in the Federal Deposit Insurance Corporation (FDIC) to avoid hackers and data breaches. If you are an experienced investor you can consider using Coinbase pro to get hold of some advanced tools in trading.
Binance
Another popular trading site amongst investors in Finance has been taking over the crypto market by storm. If you have just entered the crypto realm, you would have heard about Finance and the several advantages of starting your investments through this platform.
Binance supports over 500 different cryptocurrencies making it one of the leading exchanges with the largest trading volume. The platform is very basic for new users and even offers an advanced version for experienced traders.
Binance is highly reliable as it offers two-factor authentication, customer service, digital wallet, strong charting tools, and so on. While it is suitable for all types of traders, it works best for advanced investors. So you are looking forward to investing in lesser-known altcoins safely, Finance is the right option for you.
Bisq
Crypto is known for being decentralized and anonymous that has attracted several people from all across the world. Bisq is a decentralized exchange that was launched in 2014 that enables users to transfer or invest in crypto anonymously. This also protects your identity from hackers or other cyberattacks that could happen on a centralized platform.
This downloadable software gives you access to over 100 crypto assets and fiats without submitting any personal information. The platform has no access to your trading account and users can access their funds instantly through a computer or smartphone.
If you are looking for complete privacy in your trading, Bisq is the perfect companion. However, since it is decentralized, you should prepare yourself for low trading volumes and slow transactions. But considering the advantages to certain users or businesses, it may work perfectly for you.
Kraken
If you are looking for an exchange platform that has great security features then Kraken has a lot to offer. This exchange platform initially launched in 2011 has proved itself to be an effective exchange platform when it comes to security. If you are just getting into crypto, the starter package is a great choice for you.
With Kraken, you can trade over 90 coins, which gives you plenty of options to trade or invest with. The platform is also equipped with advanced trading tools such as crypto futures and margin trading which work best for experienced traders. The downside of using Kraken is that the verification process can take time and delay your trading actions.
The reason why it is highly secure is that they do not rely on any third-party service to store your crypto assets. But are kept offline, geographically distributed cold storage 95% of the time. The only time your assets are moved online is when you are making your investment or trading decisions.
eToro
The last platform on our list is eToro which is a popular copy trading platform. This social trading platform offers only 6 crypto tokens which are Bitcoin, Ethereum, Litecoin, XRP, and XLM. The interface has a creative design that allows users to trade efficiently be it cryptocurrencies, currencies, or even stocks.
It is a one-of-a-kind broker platform that has a simple sign-up process that offers a variety of money-making opportunities through their limited coin options. Some of the advanced features for experienced traders include the latest market news, mark favorite transactions, and even access to your portfolio on the platform.
Keep in mind that trading on this platform will charge you high trading fees which may seem troublesome but considering the features it offers it may work great for you.
Conclusion
These are just some of the many exchange platforms in the market. Make sure that you do enough research before choosing a trading platform. As a beginner, it may seem daunting, I suggest you use these tips to find the right Bitcoin exchange that works perfectly for you.