Trading Bitcoin and other cryptocurrencies can be quite difficult and intimidating, especially for new entrants into the markets. When deciding to trade bitcoin, investors are very concerned about safety and security.
When choosing the right crypto exchange platform to use, traders consider several factors including the level of security. Look for exchanges that offer robust security measures including KYC and AML compliance policies.
Additionally, pay attention to the exchange rates and fees. Choosing a platform with the best exchange rates and considerably low fees will help to maximize profits.
Also, consider the digital currencies supported by the exchange as well as any geographical restrictions.
Let’s now take a look at the five best Bitcoin exchanges that investors can use today
This is one of the most popular and widely used cryptocurrency exchanges in the world. It was founded in 2012 and is a fully registered and licensed cryptocurrency exchange that serves customers from several countries in the world.
Coinbase is one bitcoin exchange that has managed to avoid controversies despite the insane number of fraudulent activities and shady exchanges in the crypto industry.
The cryptocurrency exchange provides its clients with an easy-to-use trading platform and this is very useful for beginners who may find bitcoin trading complex and confusing.
Coinbase also provides its clients with insured custodial wallets which they can use to store their digital assets. These insured custodial wallets protect the funds of the users if their accounts are compromised as a result of any security breach.
Coinbase also created the Coinbase Pro, which is specifically designed for expert traders in the market.
Founded in 2017, Binance has since grown to a large extent and is currently among the most popular bitcoin exchanges in the industry. Binance has dominated the entire crypto space since it makes up for a significant chunk of the crypto industry’s daily trading volume.
The crypto exchange offers up to 600 different cryptocurrency pairs to be traded and even has its native digital currency known as “Binance coin” (BNB). Binance provides clients with impressive offerings with incredibly low fees and also provides online investing tips and informational articles via the Binance Academy.
Sadly, Binance.com does not currently allow US deposits.
Kraken is one of the largest Bitcoin exchanges and is a partner in the first cryptocurrency bank. Kraken allows clients to trade several digital currencies other than bitcoin, including Ethereum, Litecoin, Monero, and many more.
This exchange is available for a wide range of people around the globe. Clients can fund their accounts using various fiat currencies like USD, Canadian Dollars, Yen, Euros, and cryptocurrencies like Ripple, Litecoin, Bitcoin.
The Malta-based cryptocurrency exchange allows clients to buy, sell, and store Bitcoin, Ethereum, and other cryptocurrencies safely and easily.
With an intuitive platform and a sleek user-interface, OKEx makes it easy for users to check currency prices, purchase cryptocurrency, and conduct many other transactions.
The exchange also allows users to increase their portfolios by including advanced features for derivatives like futures, perpetual swaps, and options. OKEx serves millions of users from over 100 countries
- CEX (Cost-effective Bitcoin Exchange)
CEX is one of the best and most trusted cryptocurrency exchanges in the world. The platform allows users to easily trade fiat money with cryptocurrencies and conversely cryptocurrencies for fiat money.
It is one of the best crypto exchanges that new entrants in the crypto space can use to get started. Its intuitive user-friendly trading dashboards make it easier for clients to conduct transactions.
CEX offers its services to millions of clients in all jurisdictions around the globe including 31 states of the USA.
It may be difficult and time-consuming to pick out the best cryptocurrency exchange platform to suit the needs of each investor.
However, by paying close attention to specific details including the reputation of the exchange, the level of security, geographical restrictions, and exchange rates, clients can find an exchange that is best suited for their needs.
Most importantly, investors are not restricted to just one cryptocurrency exchange; they can use more than one exchange that satisfies different requirements they may have.
Hopefully, the information provided above will go a long way to assist investors and potential traders in deciding which crypto exchange to use.