Cryptocurrencies are increasingly becoming a part of everyday life. While they’ve never been easier to use and spend, it can be hard to know the best crypto exchange for buying and selling cryptos and where you should start if you want to make money with them.
In this article we look at different important aspects that I consider when choosing a crypto exchange: availability, payment method, fees, customer support and security features.
Kraken
Kraken is one of the oldest U.S. crypto exchanges, founded in 2011 during crypto’s Paleolithic era. This platform offers a solid range of coins with very competitive trading fees. It also offers a suite of other advanced trading tools like margin trading and futures trading.
This exchange offers two trading platforms: Kraken and Kraken Pro. The basic Kraken platform with “Instant Buy” doesn’t offer the cheapest fees, although advanced users can get volume discounts and lower their costs by trading on Kraken Pro.
Kraken is one of the few exchanges in the U.S. to offer margin trading and a suite of other advanced trading tools like advanced order types and futures trading.
Binance
Binance is a cryptocurrency exchange that is the largest in the world by daily trading volume. It was founded in 2017 and is registered in the Cayman Islands.
Binance offers more than 130 cryptos, although this isn’t as many as Binance offers international users. Still, it should cover most cryptos an individual may be looking to trade.
Binance offers a rich blend of useful charts and an intuitive user interface. Best of all, Binance charges rock-bottom fees for spot trading and very competitive “instant buy” fees. Just be aware that this platform is not available to all U.S. residents.
Coinbase
Coinbase is a leading online platform for buying, selling and trading cryptocurrencies. It offers more than 150 tradable cryptocurrencies, which should satisfy most investors looking to break into the crypto space.
The platform stands out for an easy-to-use interface that makes one-time or recurring crypto transactions a snap.
Customers who are interested in features like in-depth technical analysis might consider paying for Coinbase’s Advanced Trade product, which will also be augmented with increased security. Advanced Trade is also replacing some of the features offered by Coinbase Pro, which is being sunsetted in late 2022.
Gemini
Gemini is a Bitcoin and Ethereum exchange, offering a wide range of services for cryptocurrency traders. The company’s innovative features include its unique Gemini Earn program, which lets users earn interest on crypto holdings, and the Gemini Credit Card, which allows for virtual currency payments at 2 million merchants.
The platform is also available in all 50 states, which means it’s easy to access from anywhere in the United States. Gemini has a strong commitment to meeting all U.S. regulatory compliance requirements and is committed to providing customers with high-quality customer service throughout the process.
KuCoin
It’s hard to find a cryptocurrency exchange out there that’s as easy to use and as powerful as KuCoin.
KuCoin is a cryptocurrency exchange that provides access to a wide library of altcoins at low fees.
The platform is headquartered in Seychelles, with a growing number of users in Asia, Europe, the Middle East and Africa. While U.S. users can access and use the trading platform, KuCoin is not licensed in the U.S., so you’ll need to be able to access it from another country if you want to trade on this exchange.
Why should you trade on a crypto exchange?
If you have recently discovered the world of cryptocurrency, or if you’re just beginning to dabble in the market, we suggest looking at the best crypto exchange options available today.
The answer is simple; exchanges give you access to assets that are otherwise not available over-the-counter (OTC) or in-person.
Cryptocurrencies are a very popular investment, but they’re not for everyone. It’s important to understand that cryptocurrencies are highly volatile and can be risky, especially for those who aren’t familiar with the industry. As such, it’s best to do your research before investing in any type of cryptocurrency.
As with any type of investment, there are some exchanges that promise high returns but do not deliver on their promises. Be aware of these types of exchanges and how they work before you invest in them.
You can try each of these crypto exchanges and have different cryptos on each of these platforms!