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Top 5 Cryptocurrency Exchanges

Cryptocurrency exchange

Top 5 Cryptocurrency Exchanges

Cryptocurrency exchanges allow crypto buyers to meet sellers and facilitate crypto trading. There are countless exchanges in the market, each with features that make it different from the other. Investors opt to use reputable businesses because they are safe and secure.  Reputable exchange platforms are compliant with set regulations, have solid firewalls and abide with set best practices. Another aspect of best exchanges is that they base operations in countries that have legislation. The motive behind operating in legislated countries is to attract serious traders who wish to trade with regulated companies.

Here is a list of the best five crypto exchange platforms

eToro

One of the best crypto exchange platforms is eToro, an Israeli trading company focusing on financial and copy trading services. The company accept users from all over the world. Its headquarters is in Tel Aviv, Israel. It has subsidiary offices in Cyprus, the United Kingdom, the United States, and Australia with 1200 employees. The company has been in operation for 14 years and has grown into a leader in the FinTech revolution.

eToro entered in to the Forex trading market with the novel concept of social trading. Social trading concept is unique in which one can interact, make friends & copy trades of professional traders.

eToro supports a variety of markets such as Stock, ETF’s, Cryptocurrency, Indices, Commodities, Currencies.

eToro Commercial with Alec Baldwin

Pros

  • Opening an account is easy and fast.
  • Trade various instruments such as Shares, Forex, Precious Metals, Cryptocurrency.
  • Comprise innovative features such as social trading that allow traders to copy strategies adopted by others.
  • Zero Commissions on Stocks & ETF’s, allows fractional purchase of shares.
  • CFD trading – trade commodities, indices & forex.
  • Deposits accepted in multiple currencies. USD, Euro, GBP, AUD, NZD.
  • Android & IOS app.

Cons

  • High-trading fees because of which comprise withdrawal and inactivity fees
  • Depending of your locations withdrawals could be slower.

Coinbase

Coinbase started in 2012 is an American based cryptocurrency exchange platform. Its operations are fully online because it doesn’t have a physical office. Trusted investors sponsor the company making it trust worthy amongst traders and the world’s leading exchange platform and broker.

Coinbase Platform Statistics
Coinbase Stats.

Pros

  • It has a safe web wallet that holds 98% of assets in offline storage inaccessible to cyber criminals.
  • Ease of use, making it an ideal option for beginners.
  • It offers a learning program that pays users to learn how cryptocurrencies work.

Con

  • It has a complex fee structure comprising a markup of 0.5% and transaction fees.

Binance

Binance is very popular among cryptocurrency traders and is one of the largest exchange platforms in trading volume. It is registered in the Cayman Islands and has been in operation since 2017. The minimum trade amount is $10 and attracts a 0.1 % trading fee and a 0.5 instant trade fee. Debit card transactions cost 4.5% and support 50 trading pairs.

Binance introduced NFT marketplace where creators can create, market & sell their unique NFT products.

Binance Ecosystem
Binance Features

Pros

  • Supports a large number of coins
  • Low fees
  • Extra services
  • NFT Marketplace
  • Developer tools & API

Cons

  • Service not available in some states in the United States.

Kraken.com

Kraken is the largest and oldest bitcoin exchange in the world, Forbes rate Kraken 4.8 stars based on its terms and conditions. Kraken supports over 50 cryptocurrencies.

Kraken Features
Kraken Features

Pros

  • Highly secure.
  • Future’s trading.
  • Margin trading x5 leverage.
  • Staking support.
  • 24/7 support & account management.

Cons

  • Complex trading features can be hard for beginners

Crypto.com

Crypto.com is relatively new, but it offers various coins and tokens, including Bitcoin and Ethereum.

Crypto.com is an app based marketplace which can are compatible android & IOS platforms.

Pros

  • Available on desktop and mobile.
  • Low transaction fees.
  • No annual fee Visa debit card.

Cons

  • Supports more than 90 cryptocurrencies
  • High trading fees for low-volumes

Summary

It is hard to give a conclusive answer on which is the best exchange platform and their total number because they are launched now and then. The choice of a cryptocurrency exchange depends on user needs and must therefore check on what each platform offers before deciding.

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