What is currency trading?
Currency trading is the act of speculating on cryptocurrency prices via CFD accounts. Cryptocurrency trading can also be done by buying and selling underlying coins.
At first, trading in Bitcoins or other cryptocurrencies can seem daunting. There are constant stories about scammers and people losing money. However, today’s technology makes it so simple to invest in and cryptocurrency trade.
Cryptocurrency Exchange Benchmarks
Customer service – is essential for cryptocurrency exchange success. Since cryptocurrency exchange platforms often involve back-and-forth transactions between clients and staff, the customer service team must excel at communication and transparency.
Users need to select a platform that is close to home so they will remain in compliance with local laws. These laws vary widely from country to country, while some platforms are available worldwide, and others are more restricted.
Security – The most important component of a cryptocurrency exchange platform is security. This includes the safety of users’ funds, the amount of personal data needed to sign up, and how many servers there are worldwide. The more servers there are, the less likely it is that an attack will occur.
If safety and security are your foremost concerns when trading or buying Bitcoin, then these exchanges are best for you. No matter if you intend to hold for a long time, trade frequently, prefer anonymity or privacy, or simply want the ease of use, these exchanges can fit your needs.
Cryptocurrency and Trading:
In the United States, Coinbase is the most well-known cryptocurrency exchange. After the release of Bitcoin in 2009, Coinbase was formed in 2012 as a fully regulated, licensed cryptocurrency exchange. It is arguably the best platform for Bitcoin exchanges online. Lots of beginners use it to learn about digital currency. The platform is thus a commonly used platform for those investing in and withdrawing Bitcoin, the most popular cryptocurrency in the market.
♥ Pros x Cons
Solid selection of altcoins Fees are high if you don’t use Coinbase Pro
Extremely user-friendly interface The wallet key is not in the user’s control
A high liquidity level Customer service is slow
Binance is a cryptocurrency exchange based in Malta with branches across the globe. This exchange was founded in 2017, focusing on altcoin trading. Beginners and experts can use this exchange. Furthermore, the platform offers around 200 coins in all, including Bitcoin and Binance Coin, as well as the usual variety of cryptocurrencies.
♥ Pros x Cons
Low fees compared to other exchanges Only 80 cryptocurrencies are available on Binance.us for US residents
Wide selection of digital currencies and trading pairs Identification verification issues
A slow response time from customer service
This crypto exchange is decentralized since its servers are distributed all over the world, which makes it almost impervious to attacks. In this regard, it is a highly secure platform, making it a good choice for buyers of different types of cryptocurrencies.
Since there is no registration process or KYC rule of any kind, Bisq is instantly available to anyone with a computer or smartphone. It’s ideal for people seeking privacy, dissidents in oppressive regions, or anyone without a government ID.
It’s a peer-to-peer Bitcoin and crypto exchange that provides decentralized technology, which means Bisq cannot be taken down just like Bitcoin itself. Bisq is non-custodial, meaning only the users can access and control their funds. The difference between this and centralized exchanges like Coinbase is that Coinbase controls the user’s funds in a custodial account that the user does not own the private keys.
The familiarity of digital funds also makes it easier for individuals in countries with less developed banking systems to immediately obtain units of account. While many say that this opens up criminal activity opportunities, the same could be said of cash. Many people do not have access to a bank account or economic means to trade because either their countries do not have the proper financial infrastructure or they lack government-issued identification. Bitcoin, when used with an exchange like Bisq, can offer a solution in these cases
♥Pros x Cons
Amazing security Payment methods can slow down transactions
Using open-source code A low volume of trades can be an issue
Can be used in the United States Not intended for active trading
This is one of the most established cryptocurrency trading platforms. They have a good selection of coins you can trade and invest in.
This cryptocurrency platform is known for offering fast bank transfers, being available globally, and charging low fees.
♥Pros x Cons
Great customer support There are bugs and issues
Worldwide availability Only a limited number of altcoins are available
Fast bank withdrawals
Gemini was founded in the year 2015 by the twins who sued Zuckerberg for using his Facebook idea. It is without question one of the most popular exchange platforms in the US. It has access to low fees and strict trading security.
The only exchange that offers FDIC protection on USD deposits is Gemini. It also now supports DOGE.
♥Pros x Cons
Accounts in USD are insured Personal data required Identification is required to sign up
A user-friendly platform Identification is required to sign up
Strong security Known to have experienced software crashes in the past
The fee is 0-1 percent, making it quite affordable for mos
This trading platform has been around in the UK and Europe for a while, and now they accept US clients as well. There are over 100 different digital assets available to trade, plus they have a practice account you can use before actually using real funds.
Traders interested in trying their hand at many pies might find this platform to be the best one yet. It can be accessed through its web or mobile platform. Founded in 2007, eToro has done a great job building a recognizable reputation for itself. It has a cryptocurrency wallet app that uses multisign authorization for additional security.
♥Pros x Cons
There are mobile and web platforms to choose from This site is not crypto-specific
Has been in business since 2007. There are only 14 crypto coins supported
You can use it for both crypto and forex
Up to 94 cryptocurrency pairs are supported