published by: Admin
3 BEST CRYPTOCURRENCY EXCHANGES WITH FEATURES, FEES, AND CONS
Cryptocurrency is on everyone’s mind. Investors are looking for the right opportunity to invest in some crypto but for many aspiring people, understanding its hows and whys can be daunting. If the spiking rates have convinced you to invest in cryptocurrencies like Bitcoin, Ethereum, Ripple, Dogecoin, and other available cryptos, it’s important to know where you can buy and sell these assets. Such platforms are known as cryptocurrency exchanges. Before you jump to finding the right exchange, here are some important FAQs you should know to make the right investment decision.
What Is A Cryptocurrency Exchange?
It’s similar to an online brokerage but for cryptocurrencies and virtual blockchain-powered assets. To understand what blockchain is, click here. You can buy, sell, and hold digital assets like Bitcoins, Litecoins, Cardano, etc. While most of these exchanges offer safe storage options for digital assets, they aren’t standalone personal wallets. So, if you want a personal crypto wallet, you can do that while maintaining an exchange account. For information about crypto wallets, click here.
Do You Need To Use A Cryptocurrency Exchange?
This depends on what you plan to do with your crypto investment. If you simply want to buy and hold some cryptocurrency, you can buy the crypto of your choice from PayPal as well. While it’s not a crypto-focused company, the platform has a feature to buy, sell and hold crypto coins.
There are also low-cost, fee-free brokers like Webull and Robinhood but with limited crypto-options. So, if you want several crypto-specific trading tools and features that will help increase your portfolio, choose the cryptocurrency exchange route.
3 Best Cryptocurrency Exchanges
Now that you have all the information to make the right investment call, here is a list of five cryptocurrency exchanges along with their features, fees, and pros, and cons.
Founded in 2012, Coinbase is hands-down one of the most trusted cryptocurrency exchanges with more than 50 cryptocurrency options like Bitcoin, Ripple, and Dogecoin. It operates legally in more than 40 US states and territories and is fully regulated and licensed. The company has a clean slate when it comes to fraud and shady exchanges that are quite common among crypto exchanges. Coinbase has an easy-to-use interface that is beginner-friendly.
- Coinbase Earn rewards
- Coinbase Pro advanced account
- User-controlled storage
- Trading tools
High trading fees and transaction fees in the non-pro version. 0.50% for buy/sell transactions, transaction fee ranges from $0.99 to $2.99 and up to 0.50% for the pro version.
With Binance, you can invest in crypto coins and altcoins that don’t have as much competition as cryptocurrencies. Binance is a cryptocurrency exchange with its own crypto asset called Binance Coin and is one of the top global exchanges with thousands of crypto exchanges a day. You can purchase a specific amount of cryptocurrencies with payment methods ranging from debit and credit cards or through EUR or GBP purchases.
- Option to invest in 150 different altcoins
- Advanced charting
- Automated recurrent buys
- Over-the-counter trading
- Not beginner-friendly
- Usage exception for some US states
0.1% for spot trading fee, 0.5% instant fee to buy/sell, 4.5% fee deposits with US debit cards.
Unlike banking accounts that are linked to a geographic location, cryptocurrencies like Bitcoin were originally meant to be accessible from anywhere in the world. Anyone from a less-developed banking system should have access to Bitcoins and to facilitate that, Bisq is a decentralized exchange. Bisq offers peer-to-peer decentralized Bitcoin and other crypto exchanges with an option to download the software that has no failure. Anyone with a smartphone or tablet can access this exchange platform with no registration process. It’s apt for anyone who is looking for a private platform.
- Decentralized platform
- Extensive payment options
- Mobile app for iOS and Android
- Relatively slow transaction speed
- Low trading volumes
- Fussy active trading
The basic concern that any investor has is the safety and security of the investment. Whether you are a frequent trader or a long-term holder, the cryptocurrency exchanges listed here are some of the best exchanges that will give you access to several popular cryptocurrencies and altcoins.
Kindly share this story: