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When it comes to trading in Cryptocurrencies, it’s absolutely essential that you’ve chosen the right crypto exchange to support you! Indeed, finding the best crypto exchange can seem like a challenge, there’s no doubting that. Nevertheless, without giving this topic some genuine time and consideration, you could find yourself missing out when it comes to cryptocurrency opportunities (and potentially even getting scammed out of money).
As such, today, we’ll be taking a look at what you need to know to choose the right crypto exchange provider, and notably, we’ll also list some of our top picks for the best crypto exchanges for the moment, as well. Hopefully, this will help you find a solution that works for all of your crypto buying and selling needs! So, don’t leave things to chance; always ensure that you take some time to carefully choose the right crypto exchange provider; luckily, this may be something that our team is able to help out with, so don’t compromise.
Choosing a crypto exchange shouldn’t need to be a major headache, but it’s nevertheless vital that you do your research carefully to ensure you’re making the right choice. To this end, we’ve summarized some of the different things you might want to look for when choosing a crypto exchange as follows to help make this decision a little easier.
Before you look at anything else, you should start by considering the reputation of your chosen crypto exchange – and if the exchange has a bad reputation, don’t go anywhere near it! While most crypto exchanges are legitimate, there are some that exist solely to take your money without offering any actual bitcoins, and the seeming “peer to peer” trading is actually a scam.
As such, don’t fall into this trap; make the right choice for your crypto exchange needs instead and consider reputation as a first point. Websites such as TrustPilot and ForbesAdvisor can be good places to start for crypto investment platforms.
Crypto exchanges are businesses like any other, and to this end, they usually charge fees for their services. As such, you should absolutely consider the cost of using the service as part of your decision. Look for an exchange ideally that offers low costs on purchases; however, some platforms may be pricier in exchange for efficiency or ease of use, so this may be a trade-off.
It’s easy to overlook the ease of using a platform when choosing the ideal crypto exchange, but this is actually a crucial point of consideration. To this end, it’s always worth looking for a crypto exchange that balances ease of using the platform with other factors on this list; moreover, if you’re new to crypto trading, you may want to choose a simple platform such as Coinbase (read on to find out more) which offers beginner-friendly interfaces.
Another common point you should consider to find the ideal cryptocurrency choice is the range of cryptocurrencies on offer. Indeed, while some websites only support trading for a handful of cryptocurrencies, others can support well over fifty cryptocurrencies or more. This can offer you greater opportunities for all of your crypto trading needs, especially if your goal is to invest in less well-known cryptocurrencies compared to the standard options of Bitcoin, Dogecoin, Litecoin, Ethereum, and the like.
If there are any other specific features you want to see from your chosen exchange, such as volume discounts, then you should definitely factor this into your decision.
So now that you know what to look for in a crypto exchange, let's take a closer look at the top 7 crypto exchanges and their pros and cons.
The first choice on our list (as we mentioned previously earlier) is Coinbase, an excellent exchange for new and established crypto traders alike. The pros and cons of Coinbase are listed as follows:
Binance is one of the old names in the crypto trading world, and they now have a unique platform for US traders called Binance US. It is often considered one of the most popular crypto trading exchanges among experienced cryptocurrency investors. The main Binance website offers international cryptocurrency trading, too, making it a potentially valuable choice to consider.
Coming in at third is Crypto.com, a somewhat self-explanatory website that’s highly rated as a crypto exchange. As one of the most versatile cryptocurrency exchange platforms, it supports hundreds of cryptocurrencies, which makes it a popular choice among investors.
Kraken is a growingly popular choice of crypto exchange for many people, offering a valuable option for many people.
Another great crypto exchange to consider is Gemini, which offers an alternative for new crypto exchangers compared to Coinbase, with a simple and easy-to-use interface that makes trading absolutely effortless. To this end, while it is used less often by experienced investors, it is often used by new traders to learn the ropes of crypto exchanges.
The Gate.io platform is another option that’s often used for cryptocurrency exchanging, and offers the best selection of cryptocurrencies on this list for a moderate fee.
If you’re looking for a good option for cryptocurrency trading, then KuCoin could be a valuable opportunity. used for cryptocurrency trading, and one of the key perks of this platform is the sheer number of trading options it offers. Indeed, with over 300 cryptocurrencies available for trade on the platform, it’s incredibly effective and versatile – and to this end, you may want to consider it as an option for your own trading needs if you’re a slightly more experienced crypto trader. The platform may not be the ideal option for new traders, though.
At this point, we should clarify how we chose the cryptocurrency exchanges on our list. Though we cannot guarantee that you will have good success with the exchanges we have listed – after all, investing in cryptocurrency, as with any investment, always comes with risks, and to this end, you should take care to ensure that you’re only investing in cryptocurrency exchanges that can offer good services and fair rates. Always do your own research before choosing a cryptocurrency exchange!
One of the first things we considered to choose the best cryptocurrency exchanges was each exchange’s reputation among the crypto community. Indeed, past customer experiences are one of the most reliable indicators of a crypto exchange’s trustworthiness.
Next, we considered the interface on offer and how this works. Indeed, the interface for crypto exchanges varies, and some are easier to use than others. But you shouldn’t need to make life difficult for yourself!
Thirdly, we considered fees. Indeed, some crypto exchanges can offer higher fees than others, and this could have a significant impact on whether or not you do well with the exchange.
Along with this, we also considered all of the unique features offered by each cryptocurrency exchange to determine the value they offer to customers, such as the number of cryptocurrencies for trade and the like.
More and more people are taking the jump and investing in cryptocurrencies these days – and to this end, it’s vital you have the right crypto exchange solutions in place to support your crypto trading needs. So, don’t leave things to chance.
To find out more about cryptocurrencies and the benefits that they can offer, contact a member of our team today and we’ll do our best to connect you with the most suitable crypto exchanges for all of your needs. After all, if there’s one thing we know, it’s that every crypto exchange is unique, and to this end, they all offer distinct pros and cons that can differentiate them from other solutions.