5 Best Crypto Exchange Platforms in 2021: Safest Bitcoin Exchange Places

Crypto is the new thing in the market that has been climbing up the ladder of popularity quite quickly, it is always good to know which crypto is the best one out there. These are the 5 best crypto exchange platforms that you will get to know about in detail. 

We have also covered what all is important when you consider getting into cryptocurrency, this is a little guide of what to do and what not to do.

Are you ready to know the five safest bitcoin exchange places? Strap on.

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Top 5 Best Bitcoin Exchanges Sites in 2021

Here are the 5 best bitcoin exchange sites in 2021

#1. eToro: Best Overall Bitcoin Exchange

This is an Israelian company, it was founded in 2006 and it is currently valued at 2.5 billion USD. This company entered the crypto market in 2014. Their cryptocurrency is called eToro. They have an app for android and IOS users so that they can trade simply. It also has the option of a digital currency wallet for its users that you can use on your phone. Another interesting thing about it is that it uses AI software, AI recommends the stocks that can be traded.  Twitter posts are also monitored, this gives a boost to the international crypto community. It has the option for VIP membership, there are levels to it. You have silver and diamonds. The benefits increase as you increase your user rank. 

Pros

• Backed up by an established finance company 
• Has an app for Android and IOS 
• Digital currency wallet is available 
• You can do social trading with the help of CopyTrade and CopyPortfolio

Cons

• The Fiat-to-crypto fees are as high as 5%
• User Verification is quite complicated 
• Offers only 10n cryptocurrencies 

 #2. Binance: Best to Earn Interest

This is the largest crypto exchange in the world. It has a large user base and the trading volume is high as well. This platform enjoys a high liquidity status, users can buy and sell crypto without any hiccups. Finance has a low fee in comparison to other platforms. The fee is 0.1%. It hosts up to 300 cryptocurrencies and users on this platform can use more than 40 currencies to fund their desired investments. Keep in mind that the customer service for this platform is not reliable at all. No chat function works 24×7 and even though they are working to fix that it is important to note that they have a service that is not proactive at all.

They have android and IOS software and the app has two versions Lite and Pro. Pro has a better user experience and a great interface. In the android google store alone it has had 10 million downloads. The rating of this app is 4.4. It is also affiliated with visas and offers a credit card. If you have a card through Binance then you can use the cryptocurrency to buy products. It also offers a loan program, users can avail of the loan and the interest charged on these loans is on an hourly basis.

Pros

• It is the world’s largest cryptocurrency platform 
• The trade fee is quite low
• Accepts 300 + cryptocurrencies and 40 flat currencies.
• Users can pick from three different interfaces 

Cons

• Customer service is not proactive
• No 24×7 chat option
• The platform has been under scrutiny recently due to U.S financial regulation 
• Flat currencies cannot be used to make flat exchanges 

#3. BlockFi: Safest Bitcoin Exchange

BlockFi is a cryptocurrency that is based in New York City, it was established in 2017. It is one of the few platforms that meet the regulatory requirements of U.S financial institutions. It has greater legitimacy than other exchanges. It has a lot of legitimacy in the market. block has a great selling point since you can use a flat currency to buy cryptocurrency that will enable you to earn about 7.5% per annum.

They have a bitcoin reward system. After you pass a credit approval check you can make purchases using their Bitcoin currency. It also has other trading options. Furthermore, it enables you to go on a pilot mode where it automatically makes the trade on a weekly or monthly basis. You can schedule transactions as per your preference.

Pros

• Doesn’t have a Minimum Deposit 
• No fee on transactions
• Reward system includes Bitcoin
• No fee (annual or monthly)
• Registration is quite easy
• Automated transactions 
• Scheduled Transactions

Cons

• Limited withdrawals 
• Loan rates are quite unstable

#4. Coinbase: Most Secure Cryptocurrency Exchange Platform

Coinbase is one of the largest exchange firms, it is also listed on the Nasdaq stock exchange, it has publicly tradable stocks. It is regulated by The New York State Department of Financial Services, it is also licensed by the same board. It has 80 various cryptocurrencies and it also provides insurance to its users if their assets are lost. It happens to be one of the safest investment platforms that are out there. The platform has an android and IOS app and users can avail the services through their phone. It also offers a free crypto wallet. You can get two types of accounts. You can have the basic one or the pro one, go for the pro one which has more features. 

Pros

• Largest crypto 
• Also featured in Nasdaq
•  80 types of cryptocurrency offered
• Insurance available 
• A digital wallet is also an option

Cons

• Fees are a bit higher 
• the fee structure is a bit complex 

#5. Coinmama: Ideal Crypto Exchange for Beginners

This company is registered in Slovakia and is owned by an Israeli company. Since 2013 it has gained two million users in 197 countries. It has a very easy-to-use cryptocurrency platform that allows you to make purchases using credit cards. It also allows you to have a customer loyalty program which happens to be a selling point. How it works is if the customer has a certain number of purchases in 90 days they become eligible for added benefits. One of the examples is if you purchase over 5,000 USD you get a reduction in the transaction fee.

Also, Read – How To Earn Interest On Cryptocurrency

The transaction limit for this is also quite high. Another cool thing is that user verification is quite high

Pros

• Users can buy crypto  from the exchange directly
• No requirement for minimum investment 
• One of the few platforms that accept all fiat currencies.
• Various modes of payment are accepted.
• Quick verification for new users

Cons

• No customer service is available 
• Can’t make transactions that are less than 100 USD
• Does Not have a digital wallet service
• Does Not have an app
• High transaction fee
• Offers only 1o cryptocurrencies
• You can’t exchange cryptocurrencies 

Factors We Considered Before Compiling the Best Crypto Exchange Platforms

Things you need to consider before engaging in crypto is to make sure that the platform you are using is safe, it should be safe enough for you to trust it with your information and your assets. 

A lot of cryptocurrency websites are on the radar of scammers and phishers, a good platform guards itself against them. Your transactions may or may not have a fee attached to them, if you are starting to go for a platform that does not have the transaction fee. Try to go for a platform that has a wallet service as well as an app for your phone.

Things to Consider When Choosing a Bitcoin Exchange Platform

One of the other things you should consider when you are choosing a platform for bitcoin trading is your geographical location, see what platforms work in your region.

After you have done that, check the authenticity of your desired platform and also what all tokens the platform support.

Mostly remember that the security of your platform is the most important.

Conclusion

Cryptocurrencies are quite new so predicting something would be useless, it is, however, going through a promising phase though. Remember to be safe while trading, like any other trade, always wait for another shoe to drop.

FAQ’s

How can you earn money through a cryptocurrency exchange?

You can earn as much money as you can through any other trading method, a lot of people don’t get it but just because this trading is digital does not mean it is not authentic or legitimate. You just need to be good at it.

What information do you need to know to make money through crypto exchanges?

You need to know how it works, what kind of platform you are looking for. Most importantly know what you have to do to make your trading experience safe.

How do you tell if a crypto exchange is legit or not?

This is normal business advice that you must remember for everything, if the promised rate of return on investment is too good to be true, in all likelihood it is. Crypto works like any other trading, make sure you remember that.

How do you start trading on a crypto exchange?

You can use one of the platforms we have listed to start. 

Is Bitcoin the best cryptocurrency to invest in at a crypto exchange?

It has been doing good but it is too soon to say.

The post 5 Best Crypto Exchange Platforms in 2021: Safest Bitcoin Exchange Places appeared first on Entrepreneurship Life.

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By: Olivia
Title: 5 Best Crypto Exchange Platforms in 2021: Safest Bitcoin Exchange Places
Sourced From: www.entrepreneurshiplife.com/best-crypto-exchange-platforms-safest-bitcoin-exchange-places/
Published Date: Fri, 26 Nov 2021 07:24:13 +0000