Cryptocurrency trading platforms are there to help new investors get started with this innovative new wealth development method. It’s not a surprise that each of these exchangers provides a distinct level of customer service, customer support, and transaction security.
Despite all of this, it can be difficult for new cryptocurrency investors to determine which website to use to handle their investments, let alone how to get started with digital gold trading. You don’t have to be afraid anymore because we’re here to help.
Top 10 Crypto Trading Platforms
The ‘original crypto exchange’ is one of Bitstamp’s taglines, referring to its establishment in 2011. Bitstamp offers 54 cryptocurrencies paired with USD, EUR, and GBP, which you can trade starting from $10. Additionally, you can earn around 5% APY (annual percentage yield) from staking.
The stripped-down features of this exchange make it particularly suitable for beginners only interested in simple crypto trading.Visit Bitstamp
- 54 cryptocurrencies available for trading
- USD, EUR, and GBP pairs
- $/£/€ 10 account minimum (0.002 BTC for BTC markets; 0.002 ETH for ETH pairs)
- 0.5% maximum trading fee
- Costless crypto deposits
- Funding is available via crypto, bank transfer, credit/debit card, ACH (for the US), SEPA (for the EU), Faster Payments (for the UK)
- Staking rewards available for Algorand and Ethereum
- Mobile app provided for Android and iOS users
- 24/7 email and phone customer support
- Established in 2011
- Around-the-clock email and phone customer service
- Supports fiat-crypto markets
- Competitive trading fees
- Affordable starting balance
- No live chat support
- Limited coin selection compared to many other exchanges
- Limited options for staking rewards
More than a dozen cryptocurrencies are offered on eToro, one of the most recent cryptocurrency platforms available in the United States.
A social trading tool allows you to mimic other investors’ moves. Because of this, traders and investors will like the eToro platform’s transparent pricing structure.Visit eToro
- It provides tools for charting and market trend indicators.
- It customizes brokerage trading platforms to target markets.
- Ensures security measures are in place to restrict access and exchange of information while on the trading platform.
- Displays price data feed and modifies feeds in real-time to market changes.
- Popular coins that aren’t on other major exchanges
- Users can copy trading done by other investors
- User-friendly app
- Straightforward fee structure
- Demo account
- High fees on some digital currencies
- Only available in 43 states in the US
- Lack of stocks and other investment options
If you’re looking for credit using your cryptocurrencies rather than buying/selling, Nexo has you covered. This is a blockchain-based lending platform founded in 2018 specializing in instant crypto-backed loans.
Nexo is available in more than 200 jurisdictions, with millions of clients borrowing at reasonable annual interest (up to 13%) and earning up to 17% on their money as lenders. Moreover, NEXO has a utility token of the same name where you can get dividends from the company’s profits, interest discounts, etc.Visit Nexo
- 38 supported cryptocurrencies for trading/exchanging
- Stablecoins and cash offered for borrowing from $50 to $2 million
- Instant-approval loans with no credit checks and no monthly repayments
- Flexible LTV ratios from 15% to 90%
- Up to 17% earning annual interest for lenders
- $375 million insurance on all custodial assets
- NEXO utility token with several benefits
- Nexo card with 2% cashback on purchases
- Mobile app available for Android and iOS users
- 24/7 email and live chat customer service
- Regulated digital assets institution
- Highly secure
- Competitive interest rates for borrowing and earning
- Around-the-clock customer support
- No monthly repayments needed
- $50 minimum loan amount
- LTV ratio up to 90% on some coins
- Not many coins for exchanging purposes
OKX is one of the largest crypto trading platforms worldwide. Established in 2017, OKX has gone beyond just being an exchange for buying and selling coins. Numerous derivatives are available for users to trade in the markets with reasonable fees, multiple payment methods, and innovative technology.
OKX also has a featured-filled DeFi section where you can stake, open an interest-bearing account, lend, join a mining pool, trade NFTs and borrow using crypto loans.Visit OKX
- 300+ cryptocurrencies
- 30+ fiat currencies available for payment purposes
- 0.08% maker 0.10% taker fees
- No starting balance
- Offers basic exchanging and leveraged perpetual swaps, futures, and options derivatives trading
- Crypto, bank transfer, credit/debit, and Apple Pay available as payment methods
- Provides utility token with OKB offering exclusive benefits
- Built-in wallet for coin storage, NFTs, and access to other services
- DeFi earning and lending available
- Mobile app available
- Phone, email, and live chat customer service provided
- Regularly processes billions of dollars in daily trading volume
- The comprehensive selection of cryptocurrencies provided
- No minimum deposit
- Utility token
- Provides several additional crypto services
- Complex fee structure
- Best suited for advanced investors
Cryptocurrency trading and investment platform Coinbase allows users to purchase, trade, and exchange over 100 tradable cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, for a variety of fiat currencies.
Founded in 2011, Coinbase is a major corporation with over 73 million users and a total of $255 billion in assets under management.
- Easy to use for beginners and can use PayPal to withdraw or sell.
- Fees: 0.50% per trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases
- Number of cryptocurrencies supported: 107
- Security features: Two-step verification, biometric fingerprint logins, insurance in the event Coinbase is breached, FDIC-insured USD balances, AES-256 encryption for digital wallets
- Types of transactions supported: Buy, sell, send, receive, and exchange
- Maximum trading amount: Limits vary based on your payment method and region
- It has a relatively wide cryptocurrency selection
- Low minimum deposits and withdrawals.
- Top-rated mobile app.
- The advanced trading platform.
- Offers free cryptocurrency for learning about new digital tokens.
- Offers Coinbase debit card to spend cryptocurrency anywhere Visa is accepted.
- Fee structure may be difficult to understand for some people.
- Fees are expensive for smaller purchases.
Paxful is a peer-to-peer cryptocurrency exchange and digital wallet provider. Customers can buy and sell cryptos using 350+ payment methods.
- The user must submit one of the verification documents, such as a government-issued ID, in order to proceed.
- To ensure a safe transaction, the user can select and trade with anyone based on any previous matches.
- The admin will step in if there are any disputes among the traders.
- Trader trust in exchange systems is maintained through a feedback mechanism.
- An encrypted chat system allows traders to communicate secretly with one another.
- A user’s crypto assets are under full control when the buyer and seller begin a trading transaction with escrow administrators
- Instantly buy the Bitcoin option
- Fixed fees for buying and selling
- Over 300 payment methods
- Live chat during a trade
- ID and biometric verification
- Full-featured, secure wallet app
- Popular affiliate program
- Real-time trading coming with Bitmart integration
- Unregulated exchange
- Low diversification outside of the African region
- No phone support
Coinsquare is a cryptocurrency exchange where you can buy and sell some of the most popular cryptocurrencies. Anyone who is new to cryptocurrencies will find it appealing because of its user-friendly design and affordable price.
- The site’s intuitive navigation and guidance let newcomers trade cryptocurrency.
- Coinsquare takes customer crypto wealth protection very seriously. Trading on the site is thus fully safe, which is great for those who value their privacy.
- The site offers several altcoins.
- The site’s signup process is quick and easy.
- Simple, straightforward signup process
- Mobile app available for both iOS and Android platforms
- QuickTrade feature allows you to instantly convert 1 crypto asset to another
- High-level security and cold storage for tokens and coins
- It’s based in Canada, which means that many international traders, including those in the US, may not be able to access it.
- Poorly reviewed customer service.
- Variety of complaints in regards to mobile app’s design and performance
- A limited number of tradable coins and tokens
Altrady is a multi-exchange trading platform that allows users to purchase and sell bitcoin. For newcomers, Altrady’s approach can be confusing, but the platform provides a variety of educational tools and instructional videos to help.
- Altrady has many features that allow traders to use advanced trading methods.
- Altrady Smart Orders provide traders full control over their positions, simplifying entry and exit orders.
- Anyone may use Altrady to trade cryptocurrencies. The Altrady app is available for all major desktop and mobile operating systems, and the web platform is accessible from any device.
- Altrady gives traders with rapid access to high-quality historical data and market analytics, allowing them to make informed decisions.
- Traders using Altrady receive fast alerts regarding all significant price movements.
- Altrady can be integrated with Binance, Coinbase Pro, Huobi, Kraken, BitMex, and many more.
- Altrady has a simple and elegant portfolio that allows users to easily keep track of their current assets and transaction history.
- Smart Trading
- It integrates with major exchanges.
- It gives real-time data.
- It has a simple user interface.
- Monthly pricing comes in addition to standard broker fees
- It can be overwhelming for new users.
In terms of bitcoin trading, Overbit is a formidable platform. Using Bitcoin, traders can engage in cross-market trading in the foreign exchange and metals markets, respectively.
- Liquidity pools — to ensure ample volume for all assets
- Unlimited free demo account for trading. Test the site before depositing real money with the demo account’s 8 BTC and USDT 50K.
- High Leverage for Traders– Isolated and margin trading – Users can select between them depending on their risk level and trading aims.
- It has a generous affiliate program for signing up friends. The website has a commission calculator so you can figure out how much you can earn through affiliate links.
- Lots of currency pairs offered for BTC
- Active blog and community
- Strong security (multi-signature cold wallets)
- Tier-based affiliate system
- Zero fees for withdrawals (besides network fees)
- few cryptocurrencies;
- no demo accounts for beginners.
It was founded in 2017 and launched in May 2018 with merely a mobile app as one of the more recent internet brokers. Webull caters more to the self-directed investor than full-service competitors, with a less complete offering.
- It provides charting tools.
- It gives the ability to enter complex trade orders.
- Webull lets investors sell stocks short.
- It allows for virtual stock and options trading.
- No commissions on stocks/ETFs, options, or cryptocurrencies;
- No fees or minimums;
- Quotes in real-time
- Platforms with great content and tools
- Extensive trading hours and pre-market
- Limited choice of portfolio management tools
- No access to fixed income, mutual funds, foreign currency, or futures markets
Crypto platforms: how do they work?
Traders can buy and sell cryptocurrencies on the cryptocurrency exchange platforms, just like they would on a regular stock exchange, by entering either a market order or a limit order.
Market orders are placed when a trader wishes to instruct the exchange to trade the coins at the best possible price in the online market. When a limit order is placed, the trader instructs the exchange to trade coins at a price that is lower than the current ask or higher than the current bid.
Where a limit order is placed is dependent on whether they are buying or selling coins at the time. Alternatively, you can go to decentralized exchanges that accept fiat for cash and/or exchange crypto for crypto.
What is the best platform to trade cryptocurrency?
We have used various criteria to evaluate the platforms based on their capabilities. For instance, eToro is the best cryptocurrency trading platform for people who use social media, while Binance is the best platform for people who want to trade altcoins. In terms of ease of use, Gemini is the best cryptocurrency trading platform.
How to choose the best crypto trading platform?
We researched several exchanges to find the best options for cryptocurrency availability, low fees, asset/account security, user interfaces, and mobile access.
We also explored whether exchanges offered services both for individuals and institutions, and we paid close attention to other account options like staking rewards, margin trading, and stablecoin support.
Why do traders choose crypto?
Despite its relatively young age, the cryptocurrency market has seen a great deal of volatility as a result of a flurry of short-term speculative activity.
Due to the lack of a centralized authority, the cryptocurrency market is typically open for trading 24 hours a day, seven days a week. Because transactions are scattered over numerous exchanges, small trades can have a big impact on market pricing.
What to consider before trading crypto?
- Learn about the crypto market. You may come across new terms, so know the basics. Cryptocurrency supply and demand cycles are also unique.
- Choose a platform and learn about what features distinguish crypto trading platforms.
- Practice with play money or demo money. Brokers like Plus500 and eToro offer a demo account where you can practice cryptocurrency CFD trading.
- Verify your account with the broker whose fees you can afford and supports the crypto products you want in your country.
- Secure your account with a bare minimum of two-factor authentication, ideally SMS, as well as email authentication. Crypto brokers tend to have a guide on how you can do this in a few easy steps.
How to start trading for beginners?
- Step 1: Make a cryptocurrency brokerage account.
- Step 2: Fund your account.
- Step 3: Pick crypto to invest in.
- Step 4: Choose a strategy.
- Step 5: Consider automated crypto trading.
- Step 6: Store your cryptocurrency.
To create an account, you’ll need to provide your crypto brokerage with personal identification information, similar to the requirements for opening an account with a stock brokerage. Some common information you need to provide when setting up your account includes your telephone contact, a copy of government-issued ID, address, date of birth, and email address.
Once you’ve signed up with a crypto brokerage, you’ll need to connect your bank account. Most crypto brokerages offer bank funding through debit cards and wire transfers. Wire transfer is typically your cheapest option to fund your account.
When you seek out a crypto trading strategy, you might try automated crypto trading with a platform like Coinrule. Trading bots enact a strategy that is intended to give you the best results given your investment goals.
Verdict: what crypto platform to choose?
Not each crypto exchange is right for everyone. Choose carefully depending on the benefits you want to derive. Investing in cryptocurrencies isn’t much different from investing in stocks. With crypto, you need to open an account with an exchange. With stocks, you open an account with a brokerage.
The available methods of depositing funds vary from one platform to another. The only difference with investing in crypto is that you have to purchase the digital assets, first using deposited funds, before you can trade. As you choose your platform, you should also be keen on any restrictions that may be applicable to you based on geographical location.