Since the appearance of Bitcoin hundreds and thousands of new cryptocurrencies were created. Ethereum, Litecoin, IOTA, Ripple, a fork of Bitcoin – BitcoinCash, etc. Naturally, people have started to trade them from one coin to another. Time passed by and now we have more than 2,000 cryptocurrencies available, including ICOs (Source: Coinmarketcap). Due to the nature of these coins, prices sometimes jump around like crazy. Regardless of the last few months while prices of most currencies stay on the one level line. So the great opportunity to earn from the price differences originated. Especially for those who follow the news, reports, and everything related to cryptocurrency markets. Cryptocurrency trading is another great niche to get into this exciting and interesting technology.
Of course, every new cryptocurrency user and future trader struggles to find a trading platform which he can trust. Here is our top 5 list of cryptocurrency trading giant platforms.
But before going forward let’s make some things clear. First of all, these websites are not sorted out by size, trading volumes, or a number of active users. Secondly, there are plenty of other great and very features rich providers, however, they are targeted to specific markets. So without further ado, let us go deeper.
Cryptocurrency trading platform which went online last year (September 2017). And has become one of the biggest, most trusted and reliable trading platforms ever. It supports 385 trading pairs at the moment. While reaching tens of thousands Bitcoins trading volume every 24 hours, Binance is most active and used trading platform today. Even knowing that it just celebrated its 1 year birthday, it stays on the top. And it doesn’t look like Binance will give its place to someone else.
In addition, Binance has huge limits without getting your account verified. Since any fiat currencies are not involved, it flies under the radar of strict regulations. Not so long ago Binance opened a new branch in Malta which loves cryptos. More or less…
Another famous trading platform with huge volumes as well. In the market since 2012. Different from Binance, it supports 88 trading pairs for this day. Trusted by hundreds of thousands traders around the globe. Loved because of margin trading, and integrated TradingViews charts.
Sadly, USA was excluded from using since 2017. The older crypto users should still remember the famous Bitfinex hack when more than 120,000 bitcoins were stolen (worth ±$72 million that day). Nonetheless, they recovered and going strong since then.
Probably one of the most heard names from this list. You may have heard it as GDAX before. The funds stored in an exchange are insured. That’s the most important feature. If you’re a solid and serious trader then it must be considered accordingly. Coupled with 0% maker fees, Coinbase Pro is the place for professional traders.
Even though it’s a great place for trading cryptos, the number of supported trading pairs is poor. Furthermore, GDAX was known for strong regulating and tracking how and where funds are transferred after withdrawal.
One of the first cryptocurrency trading platform opened in the middle of 2011. Based in San Francisco. Supports margin trading for up to 5x. For this moment, Kraken allows trading 71 trading pairs. Despite the fact that its popularity dropped a bit, its contribution to the whole community shouldn’t be forgotten.
On the other hand, it doesn’t evolve as before. Many people used to complaint about connectivity and speed issues. Also, due to the support of fiat currencies, most of the time users need to verify an account. That’s the key point where privacy is gone.
After all, Kraken is a name with a long history, high reputation, and credibility. If you wanna to jump to cryptos directly from your bank account or card, start with them, you shouldn’t be disappointed.
It isn’t so popular as the other exchanges in this list, but it took its place because of long list supported cryptocurrencies. There are coins which aren’t popular, neither their trading volumes. But still there are profits to be made and some coins cannot be ignored. That’s a moment when Coinexchange gets handy. This is the place where you will not be asked for an ID or passport.
However, we miss some information about the company itself. So this exchange is for more experienced users who know what they’re doing and trade not the first time. Just remember to check Coinexchange when you cannot find the wanted coin anywhere else.
Anyhow all these trading platforms deserved to be here and should be considered places to have an account in. Just before stepping in, check if the country you are located in is accepted and supported by the exchange. If it’s fully anonymous then, of course, it doesn’t matter what country you’re registering from. As much as we love Bitcoin and what opportunities it gives, there are countries, sadly, where cryptos are illegal and restricted to use. You may want to check this list – Legality of bitcoin by country or territory.
Always remember that cryptocurrency trading may lead you to the financial losses. It requires a specific knowledge and skills. Even though we invite people to join the crypto world, our intentions are only the best. We love new people knowing cryptos, but as much as you, we want everyone experiencing the best. We highly recommend going through several resources. Learn, read, watch and enjoy the power of knowledge.
Disclaimer: This list is the opinion of SinceCrypto.com team. Some of the huge trading platforms were skipped due to not supporting of English language. Be acknowledged that we may get a financial reward for promoting these services.