Binance – Best Cryptocurrency Exchange in General
Even though it has branches all over the world, this platform is based in Malta. It’s a great choice for both beginners and experts. Not only that, but the platform has a total of about 200 coins, from well-known ones like Bitcoin to their coin called Binance Coin.
Binance Pros
Binance Coin (BNB) Secure Asset Fund for Users (SAFU) (BNB)
About 200 cryptocurrencies can be traded with flat fees of 0.1 percent.
Cons of Binance
Only 80 cryptocurrencies are available on Binance.us, which US residents must use. There could be problems with ID verification.
Customer service that is slow to respond
Binance offers a wide range of services, such as margin trading, futures trading, and much more. Most transactions cost 0.1 percent, and they also offer a credit card brokerage service to make buying and selling cryptocurrencies easier (at higher fees).
If you use this platform, you might not have to worry about security. This is because it has a system called Secure Asset Fund for Users (SAFU), which protects users’ funds from being stolen. On the other hand, setting up 2FA and ID verification on this platform can take quite a while.
Kraken – Top-Rated Customer Support
This cryptocurrency platform is proud of how fast bank withdrawals are, how they can be used in most parts of the world, and how little they cost. The fees range from 0% to 0.36 % and depend on your trading type and how much you’ve traded in the last 30 days. If you trade more, you’ll pay less in fees.
Kraken Pros
- Great customer service.
- Available everywhere
- Having a good name
- Easy money out of the bank
- Transaction fees are very low
Kraken Cons
- Some problems and bugs
- Not the largest number of alternative coins.
This platform is also very popular because its dark pool feature makes it easy to trade without being seen. However, you will notice that the user experience is not the best on the market compared to other platforms. The platform’s UI needs some tweaking to make it more user-friendly.
Coinbase – The Best Platform for Newcomers and Buyers of Bitcoin
Coinbase is, without a doubt, one of the best places online to exchange Bitcoin. It is used by many people who are new to digital currency and want to learn more about it. Because of this, it is often used by people who want to deposit and withdraw Bitcoin, which is the most popular coin on the market.
Pros of Coinbase
- Easy to use for equally beginners and experts
- Best place for Bitcoin purchase
- 30 million users worldwide
- We accept debit, credit, and wire transfers
Cons of Coinbase
- Slow customer service
- Trades are watched very closely.
- Fees are a bit higher than average.
This platform lets you deposit money quickly and has a lot of ways to pay. It also has a user interface (UI) that is almost perfect and easy to understand. You can trade Litecoin, Bitcoin, Ethereum, and other popular cryptocurrencies here.
This platform is really popular for a good reason. It started in 2012 and has more than 30 million active users. One small problem with the platform is that transaction fees are slightly higher than on the best crypto exchange platforms.
Here, the fees come in the form of a 0.5 percent premium. After that, you have to pay a small fee based on how much you trade. You could say these are the costs of using a popular crypto trading platform with a good user interface and getting the services you need.
Are Coinbase and Coinbase Pro the same thing? There is a small difference between Coinbase and Coinbase Pro. Coinbase Pro, which used to be called GDAX, is a separate app for experts who want to buy and sell cryptocurrency. It also has more restrictions on where you can use it than the normal Coinbase app.
eToro – Crypto and Forex All in One
If you like both forex and cryptocurrencies, eToro should be your platform of choice. This might be the best platform for traders interested in having their fingers in many pies. You can use the platform on both the web and on your phone.
eToro Pros
- Pick either the web or a mobile platform.
- Since 2007, it has been running.
- It can be used for both cryptocurrency and foreign exchange.
- Up to 94 cryptocurrency pairs can be used.
eToro Cons
- It’s not a crypto-specific website
- Only 14 crypto coins are supported.
Also, it’s important to remember that eToro has a crypto wallet app that uses multisig authentication to make investing with other people even safer. Since it was accepted in 2007, eToro has done a great job building a good name. The only bad thing is that they only support 14 crypto coins, even though they list the most popular ones.
Bisq – Best Decentralized Platform
This is a platform for exchanging cryptos without a central hub. Because of this, it has servers worldwide, making it almost impossible to attack. In this way, this is one of the safest places to buy different types of cryptocurrency.
Bisq Pros
- Excellent safety
- Open-source code
- able to be used in the US
- No ID required
Bisq Cons
- Doesn’t let using credit cards to make deposits
And what else? The source code for the platform is talked about openly on GitHub and Slack, which makes everything clear. One thing to remember about the platform is that every transaction will cost you 0.001 BTC and some extra mining fees, whether you are buying or selling.
The main problem with the service is that deposits can only be made through wire transfers. Also, the rest of the cryptocurrency isn’t as important as Litecoin and Bitcoin.
