Beginner’s Guide to the Best Cryptocurrency Exchanges 

Exchanges 

Cryptocurrency has been gaining more popularity for the past decade. Its creator may not be known but what we can say for sure is that it can now be considered as one of the best investments one can go for. 

One of the most crucial decisions you need to make when starting your cryptocurrency investment journey is where you put your funds. The need for a legit and reliable crypto exchange is a glaring fact. You need to look for a great platform where the security of your investment is a priority and that can assure you of great opportunities for gains. 

That’s why we decided to help you find the right match. This article has selected four of the best crypto trading platforms in the market right now. By the end of this article, you should be able to find the right platform that can suit your financial status and aims, as well as your trading skills and experience. 

Based on the factors mentioned earlier, here are the best cryptocurrency exchanges in the market now. 

Let us get to know more about each one of these platforms.

1. Coinbase

Coinbase is a well known US-based platform that has recorded a large number of trading transactions and a massive number of users. It is a trusted platform that offers a wide variety of cryptocurrencies to exchange or trade.

Coinbase is a good start for beginners to trade cryptocurrency and gain experience because it has reasonable transaction fees and rates, and overall better security features than other crypto platforms.

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It also comes in a second version, the Coinbase Pro, which is made to cater to more experienced traders. In this platform, users can gain access to various trading tools and bots while utilising ‘limit orders.’

Exchanges 

2. Bitcoin Loophole

The Bitcoin Loophole app is a platform geared toward creating trader-broker connections so that traders can avoid being victims of scams and frauds – most especially novice traders. To elaborate, upon registration, this broker hub automatically connects users to some of the most competitive cryptocurrency brokers in the market. 

Bitcoin Loophole claims that all of the companies it refers traders to are safe and trustworthy. Based on user testimonies, that appears to be the case. Nevertheless, we’d still advise you to double-check the broker this platform assigns you to.

Though this company is obviously not a crypto exchange, we included it because of the massive database of crypto brokers it has. It takes into account the customer’s location when making a broker match, which is especially convenient for customers from countries where the likes of Coinbase or Robinhood are not available.

Exchanges 

3. Robinhood

Robinhood is one of the most affordable platforms that offer the cheapest rates and fees so you can get the most out of your multiple trade transactions. It is a platform known for its offer of commission-free trades when trading stocks and Exchange-Traded Funds (ETFs). Despite offering cheap transaction fees, the platform can still provide its users with the ease and speed they want in each one of their transactions.  

It is a platform that targets beginners with its easy-to-use interface that attempts to simplify trading for the average trader. Despite having limited features compared to its competitors, Robinhood maintains a good position in the market. This is because the platform never fails to keep up with modern technology. 

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Exchanges 

4. eToro

One of the best cryptocurrency trading platforms that makes use of social networking aspects is eToro. With this broker you can trade cryptocurrencies, stocks, ETFs, and even commodities like gold and oil. It is a well-known platform that has gained many followers through its great history of providing reliable, secure, and profitable services. 

The platform has two methods for trading: one is to trade with no leverage, and the other is to trade with Contract For Difference (CFDs). 

First, when you choose to trade with no leverage, the actual coin which is being traded is held by the platform, and once the seller receives the payment, the buyer will receive the coin being held by the platform. 

On the other hand, when you trade with CFDs, you don’t need to wait for the physical delivery of the asset and do not have actual ownership over it. Instead, you are just making a bet with other market participants about the price change of the asset. 

Conclusion

Cryptocurrencies’ popularity has brought about competition between various crypto platforms that exist in the market. They are always in a continuous attempt to keep up with the ever-changing cryptocurrency and technology landscape. This is why risks are bound to happen, however hard these platforms try to protect their users from trouble. 

In the end, it all is in the hands of the traders themselves since the foundation of cryptocurrency has been to hand over the control of finances to the investors. The crypto platforms presented here can help and assist you; however, the final investment decisions will heavily depend on you. 

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