Cryptocurrency has been around since 2009 when Bitcoin was invented. However, it has only recently started gaining mainstream traction, which is why so many people are searching for the best digital currency trading platforms. If you’re new to the cryptocurrency world or you want to get into trading coins, you’re in the right place. Continue reading to find out more.
Launched in 2018, Cryptology is a brilliant cryptocurrency trading platform that gives long-standing alternatives a run for their money, with support options for over 100 coins and incredible security features including 2FA. When you open an account and make your first deposit, you will need to invest at least $25, which is all made clear in their transparent terms and conditions.
If you’re using Cryptology through your web browser, you will benefit from super high speed, which means you can use it no matter where you are.
BitMart has been on the scene since 2017 and offers support for over 1000 digital currencies, which is why people like it so much. Being based in the Cayman Islands, BitMart has the luxury of securing support for new coins ahead of its competitors, which is why avid investors choose to operate through this giant trading platform.
There’s no denying that BitMart has the power to beat out the competition. However, a security breach in 2021, which impacted $196 worth of investments, reversed the platform’s good reputation. Security beaches aside, the platform is secure again and makes a viable choice for investors looking to enter the game.
Kraken is an old dog that entered the trading platform game back in 2011 and offers availability in almost all corners of the world. Based in San Francisco, investors have access to over 120 currencies, and the fees for buying and trading are exceptionally low. Rising to prominence as the go-to crypto market for investors during the early years, Kraken has managed to keep hold of its professional reputation for over ten years.
Bisq allows global users to transfer currencies in complete privacy and supports over 100 currencies. When signing up for this platform, which opened in 2014, there is no need to complete a Know Your Customer (KYC) verification, which makes it the perfect asset to those seeking top privacy. The reason Bisq is so popular with veteran crypto users is that it upholds the initial values of crypto, which are anonymity and decentralization. However, this trading platform isn’t the best choice for beginners.
Born in 2014, Gemini is the brainchild of Cameron Winklevoss and has top-of-the-industry security. Gemini promotes 2FA and is SOC-2 certified, which means they’ve been audited and verified by third-party professionals. Traders using this platform will have access to over 75 currencies all displayed on an efficient trading board.
Trading fees vary on this platform but are as low as 1.49% on trades exceeding $200, which isn’t bad. Make sure to analyze the fees though, based on what you are trading, so you are aware of all costs. Do not underestimate how much fees influence your trading portfolio.
Things To Consider When Choosing A Digital Currency Trading Platform
Cryptocurrency is growing in popularity, and more people are looking to invest in the currency. Knowing which trading platforms to turn to, like those above, is a great starting point for beginners. But, we have to highlight that the best trading platform for you is not necessarily the best one for anyone else.
The best thing that you can do is to try several of these trading platforms to see what you are truly comfortable with. While you test them, you need to think about what counts for you. For instance, let’s say you are a beginner. In this case, advanced tools meant to offer complete trading support are not needed.
You need a system that is very easy to understand. This does include the interface used. Generally speaking, the cleaner the interface and with the fewer the available features, the easier it is for novice traders to get started.
The last thing to remember is that these digital trading platforms do offer you a really good customer support system. You can easily take advantage of it as both a professional and a novice digital currency trader. When you have a question, like how to use a specific feature that you do not understand, or how is a specific option used in trading, you can contact customer support. This allows you to get a good answer and you will avoid losing time.