If you want to invest in digital currencies such as cryptocurrency, then you’ll need a crypto trading platform, otherwise known as an exchange. With cryptocurrency exchanges, you can buy and sell thousands of different crypto assets. However, with such an abundance of options, how do you know which platform to use?
The answer to this question can vary between traders. We’re all different, with our own goals, experience levels, priorities, and preferences. Therefore, the best crypto exchange for you may not be a suitable option for another trader, and vice versa. So, in this article, we will pin down the best choices for different types of traders. Are you interested in robust security? Low fees? Mobile compatibility? Or something else? Whatever you’re looking for, we’re sure to have found a suitable crypto exchange for you!
Finding the Best Crypto Trading Platform for Your Needs
Check our selection of the top crypto trading platform options for your personal needs:
Are You Looking for Robust Security?
Due to the lucrative nature of cryptocurrency, this industry is, unfortunately, packed with scams. Fraudsters worldwide are constantly looking for ways to capitalise on traders through hacks and other malicious actions. Due to this prevalent threat, it’s vital for traders to join only the most trusted and secure crypto exchanges.
Of course, every single platform we’ve listed is safe to use. At the bare minimum, all these options secure user data with SSL technology to prevent the infiltration of outsiders. However, some exchanges go the extra mile to further protect their users. If security is your main concern, then you’re in luck, as we have found the safest crypto exchange to use.
For many, Gemini is one of the best crypto exchanges for top-tier security. This robust platform is SOC 2-certified and integrates various security protocols to keep its users safe at all times. In fact, Gemini’s founders, Cameron and Tyler Winklevoss, struggled to find a secure platform at the beginning of their crypto trading journey. Fueled by frustration and a lack of trust, they set out to deliver a reliable platform that focused on security.
And thus, Gemini was born. With innovative security solutions, such as two-factor authentication, hardware security key support, and address allowlisting, this platform goes above and beyond for the safety of its users. Gemini also has a top-notch interface and plenty of interesting features to help their traders effectively trade. Additionally, this platform supports over 100 cryptocurrencies, making it a suitable choice for all traders and not only those looking for unmatched security measures.
Do You Want Low Trading Fees?
It’s no secret that trading crypto can be a costly endeavour. Of course, we all want to make a profit, but the reality is that this isn’t always possible, especially when it comes to beginners. One key rule for new traders is to always set a budget to adhere to when trading. This budget should be based on several factors, such as your financial situation, goals, and risk tolerance. With a clear budget in place, you’ll know how much fiat currency you’re able to spend on crypto and other digital assets.
Unfortunately, for many traders who are starting out, they may only have a small budget. This isn’t the end of the world since even with smaller budgets, you can participate in profitable strategies such as day trading and dollar-cost averaging. However, the main issue with these trading strategies is that they require traders to make lots of trades in a short period.
Therefore, if you’re someone who wants to cut costs whenever possible, you’ll need to use a crypto platform that has low trading fees. If that’s the case, then let us introduce you to Kraken. This platform is a top choice among millions of traders, and for good reason. Not only does Kraken have plenty of useful features and a massive selection of coins, but it also has highly competitive trading fees. With a marker-taker fee schedule, Kraken aims to drive maximum liquidity and encourage its users to make regular, low-cost trades.
Are You Interested in a Decentralised Option?
Centralised exchanges (CEX) are often the go-to option for crypto traders. They are accessible, simple, and support a wide range of cryptocurrencies. However, despite their advantages, CEXs are not suitable for everyone. If you’re looking for a private, secure, and low-cost option for trading crypto assets, then you’ll be better off using a decentralised exchange (DEX) instead.
Decentralised exchanges, unlike their counterparts, support peer-to-peer (P2P) transactions through the use of smart contracts. These exchanges eliminate the need for intermediaries, which can allow cost-effective transactions between active traders. DEXs are also considered a more anonymous option for trading digital assets since they do not require users to complete KYC (Know Your Customer) processes.
One of the best DEXs you can join right now is Uniswap. This robust exchange has high liquidity, a full-featured platform, and low trading fees, making it a terrific choice for many traders. Despite being decentralised, Uniswap is easy to use, so it’s no wonder why it is the world’s leading DEX. Users of any experience level can conveniently swap crypto tokens and have full control over their assets with this exchange.
This platform supports a fair amount of crypto coins, giving you plenty of options for diversifying your portfolio. This includes Ethereum, Binance, Dai, USD Coin, Tether USD, Frax, and Maker. Uniswap also has its own governance token – UNI. Traders can use UNI, which has a total supply of 1 billion coins, to vote on developments to the protocol.
Additionally, this exchange allows its users to earn rewards by becoming liquidity providers. This gives you the chance to make even more passive income when trading crypto assets. So, if you would rather use a decentralised exchange than a centralised one to buy crypto with fiat money, look no further than Uniswap.
Do You Want to Trade on the Go?
One of the best parts about trading is that it allows you to make money at any time since the crypto markets are open 24/7. In fact, some trading strategies are based on monitoring small price movements and capitalising on short-term fluctuations. This includes strategies such as day trading, scalping, and swing trading.
Using these strategies can be extremely beneficial and result in small yet constant short-term profits. However, to truly take advantage of the volatility of the cryptocurrency market, you must be able to trade on the go. Yes, we can all open up a crypto trading platform on our laptops or desktops. The issue is that some platforms have clunky or unresponsive mobile apps that make it difficult to make trades when out and about.
Thankfully, this isn’t the case for all crypto exchanges, with the top example being Crypto.com. This exchange not only supports a great range of crypto coins but also provides a fantastic mobile experience for traders. On both iOS and Android devices, you can seamlessly manage your portfolio. This platform’s app already has over 10 million downloads on the Google Play store, with an average rating of 4.5 stars.
All in all, the mobile app looks sleek, and it’s super easy to navigate. In fact, some users may prefer it over the desktop version. On any device, you can use this platform to trade up to 250 different crypto assets. Crypto.com also offers various features on the mobile app, including the ability to set up price alerts and price movement alerts. So, if you’re ready to take trading outside, then this is the perfect platform for you.
Would You Prefer Extra Assistance?
As trading is a highly complex activity, it’s understandable that many traders prefer additional support. Buying and selling crypto assets to make a profit requires a lot of patience, research, and sometimes even specialised tools. Therefore, implementing a strategy and finding suitable coins to trade can be overwhelming, especially for beginners.
If you think this is the case for you and you would prefer more assistance when trading, then we suggest turning towards a crypto broker rather than a crypto exchange. Instead of leaving you to your own devices, a brokerage will support you as you make important trading decisions.
Many brokers are also equipped with top-tier trading tools and informative resources that can elevate your trading experience. For example, many brokers provide a demo trading account that enables users to trade through the crypto market using dummy funds. This is the perfect way to build confidence and practice new strategies without risking real money. Although crypto exchanges also offer some tools, they are not tailored to each user’s preferences like crypto brokerages are.
You can head to one of many crypto platforms to find a broker that’s well-suited to your needs. Typically, with cryptocurrency exchanges, you’ll have to search for one on your own. However, to connect with a broker, you just need to join a crypto platform such as Immediate Bitmasters. This platform uses AI technology to make optimal matches between traders and brokers. This saves a bunch of time and ensures you can connect with a broker who can effectively help you along your trading journey.
Do You Need a Wide Selection of Coins?
A fully diverse and balanced portfolio is key to finding success in the crypto world. By investing in a wide variety of assets, you can offset losses, even when a handful of your investments fall in price. Too often, beginner traders make the dire mistake of only investing in one of two different coins. However, at least to begin with, you should buy around 5 or 6 coins. Ideally, these assets should also vary in price, market cap, and utility.
Luckily, cryptocurrency is one of the best options to ensure a balanced portfolio. There are already thousands of different crypto assets in circulation, with many more being constantly added. So, you should have no issue finding a suitable selection of coins to buy. Furthermore, many crypto exchanges support at least 100 coins and sometimes other assets. But, if you’re a trader who is interested in buying a wide selection of coins, including obscure ones, then you’ll need a specialised platform.
BitMart is a cryptocurrency exchange platform that offers an eye-watering amount of coins – over 1500. That’s right, you have access to over a thousand coins through this platform. With BitMart, it’s easier than ever to create a diversified portfolio that can withstand market pressures. This platform also has an intuitive interface, plenty of advanced trading features, and much more on offer. So, if you want to buy and sell even the most obscure coins through a well-rounded platform, then BitMart will be your best option.
To recap, here are the best crypto trading platform options for you depending on your own needs:
- Security – Gemini
- Affordability – Kraken
- Decentralisation – Uniswap
- Mobile compatibility – Crypto.com
- Assistance – BitiCodes
- Asset variety – BitMart
With any one of these platforms, you can amplify your cryptocurrency trading experience, increase your chances of making a profit, and more. To join one of these platforms, all you need to do is create an account using information such as your name and contact details. Next, you will be prompted to make a deposit. The platform (or brokerage) will then verify this deposit and enable your account. After that, you’ll be free to begin trading!
All we have left to say is remember to do plenty of research and set a clear budget beforehand. Trading is already high risk, and with a volatile asset such as cryptocurrency, losses can be expected. But don’t fret, as it’s all part of the learning experience. So, even as a complete beginner, with the help of any of the platforms we’ve mentioned today, you can work your way towards making a profit and capitalising on the thrilling world of crypto!