Crypto trading platforms have features that make the life of a crypto trader much easier. These features include having a digital wallet, trading options for multiple currencies and making payments using cryptocurrencies.
Through crypto trading, you can potentially earn a lot of money with the nature of transactions being highly liquid. This means that you can immediately cash out your cryptocurrency without getting affected by market fluctuations.
Has your interest been piqued to find out the best crypto trading platforms? Read more about them below. Casino Days India made a list of the best and most reliable crypto trading platforms in the industry today:
Coinbase
The best overall crypto exchange is Coinbase and the biggest reason for this is that it’s easy to make transactions which are accompanied by strong security and transparent prices.
Coinbase is a centralised exchange platform where a third party is involved in handling the day-to-day transactions of the crypto trading platform. There are also 64 available currencies for trading and are all storable using the Coinbase wallet.
Opening an account is free but the platform charges $0.99 per transaction for the basic membership structure. Moreover, Coinbase is upgradeable to Coinbase Pro which provides users with a lower fee for more features like charts and indicators.
Pros:
- It has a variety of cryptocurrencies available for trading such as Litecoin, Zcash, and Monero.
- The user interface is easy to use because of its simplistic design and fast loading time.
- The exchange provides users liquidity options like selling the crypto token at any time to cash out on the investment.
- Coinbase is a reliable platform that never got itself into controversy for shady exchanges and fraudulent coins. It uses an encrypted SSL that safely directs traffic into the site. Also, all private keys are stored using an AES-256 encryption that safely stores all cryptocurrencies where no outside threat can touch.
Cons:
- It may come as expensive if you do not upgrade to the Coinbase Pro model. Pricing fee can go from 0.50% of $10,000 trades to 0.08% for $300 million dollar trades.
Cash App
Cash App has a peer-to-peer system that allows users to make different transactions like paying rent, shopping online, or buying food. As long as the businesses you are dealing with use the app as well, you can use Cash App to exchange your cryptocurrencies for different products and services.
It may lack a variety of trading options but it has great features that allow users to trade Bitcoin conveniently compared to traditional crypto trading platforms.
Pros:
- Amateur traders will find the interface easy to navigate and understand at first glance because of its simple design and intuitive layout.
- It has a feature that allows you to invest in stocks like exchange-traded funds (ETFs) which are investment products traded in the stock market.
- Because you can only trade Bitcoin on the platform, investors will find it easier to trade because they are solely focused on one cryptocurrency rather than having a hundred more on other platforms which can confuse them.
Cons
- It doesn’t have more options for cryptocurrencies, barring investors from diversifying their investment portfolio.
- For credit card transactions, the platform charges a 3% service fee.
- There is a $250 weekly limit in withdrawals.
Binance
If you are serious about cryptocurrency trading, Binance has a lot of digital assets for you to consider. Beyond the most popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, you also have the option to invest in newer ones that may grow exponentially in the future like Vertcoin, IOTA, and Cardano.
With this, Binance is considered a great exchange platform for altcoin trading which involves trading a group of cryptocurrencies that are not Bitcoin. It’s no secret that Binance is tailored towards experienced traders because of the array of cryptocurrencies and features made available right off the bat.
Pros:
- With 0.012% to 0.1% fee per transaction, its fees are lower than its competition.
- It has over 500 cryptocurrencies available for trading.
- It has a strong focus on altcoin trading for risk diversification.
- It allows users to use Binance futures that is an agreement between a buyer and a seller to trade a particular cryptocurrency at an agreed price and a particular date.
- It has an NFT feature that allows users to present real-life products or items like paintings, videos, music, and other digital files found online using cryptocurrencies.
Cons:
- Beginners may have a difficult time using the exchange because of the wide array of cryptocurrencies and features available.
Bisq
Bisq is a great exchange for decentralised trading. Decentralised exchanges are platforms that don’t rely on a third party to monitor transactions and secure assets on behalf of the parties involved.
Unlike a centralised exchange, Bisq stores all its crypto coins in a blockchain and allows peer-to-peer transactions which use different assets, tokens, and escrow systems.
Pros:
- It comes with all the benefits of a decentralised exchange like lower fees and more control over your own investments.
- There are plenty of payment options available like debit/credit card or digital wallet.
Cons:
- It runs the risk of controlling your own investments and complexity of doing transactions. Because a central authority is not present here, you have to rely on your own investment skills to make your trading endeavours worth it.
- Decentralised platforms are made for active trading which is done to profit in short-term. Because most active trades are highly volatile and have the tendency to lose all investments in one sitting, decentralised trading platforms like Bisq are avoiding such issues, especially when it’s so easy for fraudulent traders to penetrate the exchange platform.
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Crypto trading platforms have so many features that can make any trader content and satisfied in doing transactions. However, there are better platforms than others and it’s up to you to pick which one is the best for you. So, choose wisely and invest in cryptocurrency responsibly!
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