Investment Disclaimer: Investing is a speculative, high-risk endeavour. Each investment is unique, with its own set of risks. Assess if you fully grasp how an investment works and whether you can afford to lose money. Trading CFDs and derivatives in your own jurisdiction may be prohibited. It is important to double-check if your investment is legal before proceeding.
Choosing the perfect cryptocurrency trading platform is the first step if you want to take your chance at this kind of trading. Countless digital currencies like Bitcoin (BTC) and Ethereum (ETH) are available through hundreds of websites all around the world. You might be having a hard time figuring out which top crypto exchanges to go for since there are many promising features offered to you.
To help ease your concern, let this article guide you to top features and advantages you must look for in finding the right platform for YOU:
1. Fund Security
Among everything else, it is essential to maintain security and privacy. Does your chosen platform inform you of the safety measures they have in place to help assure you?
Before acquiring anything from a crypto platform, we urge that any investor learns about the regulatory body that governs the service (which might be the Financial Conduct Authority (FCA) in the UK or the Financial Crimes Enforcement Network (FinCEN) in the US).
Q: Why should I learn about the FCA or FinCEN? Who are they?
A: The two agencies are responsible for safeguarding the markets and financial systems from fraudulent activities, ensuring that consumers are not abused by financial firms.
You can determine whether or not a platform is the best match for your needs by looking into the protections it offers. Before investing your hard-earned money into the platform, it’s critical to go over this content completely.
Next questions to ask yourself:
“How many cryptocurrencies are available?”
“Is my preferred cryptocurrency available on this platform?”
With over a thousand cryptocurrency alternatives available, you will need to do your research before deciding which one to invest in. And of course, which platform offers the feature you need the most.
Is your chosen platform’s interface easy to understand? That’s one question to ask, too!
As a result, before choosing an exchange platform, you should first decide which cryptocurrencies you want to trade with right now and which altcoins you might want to trade with in the future, as not every platform supports all altcoins.
4. Customer Service
In using services aligned to financing, we cannot help to be extremely mindful about particular things when engaging in investment activities. Customer service on various cryptocurrency platforms is not always the greatest. If you find an exchange that has received excellent scores for service, this is a major benefit that might really enhance your trading experience.
5. Transaction Fees
You should learn about the costs that will be charged before using a certain platform. On credible exchanges, you will almost always be charged a trading fee as well as the possibility of additional commission fees. Some exchanges do not charge commissions on transactions, while some do charge fees for deposits and withdrawals.
What are the top-performing cryptocurrency trading platforms to check out?
There are a lot! But we have also shortlisted them into seven which include Binance, Kraken, Coinbase, Gemini, Bitcoin Loophole, Gemini, and Bitstamp.
It might be a great challenge for you to choose a crypto platform, but that is how you can say that you really are getting started. If you are still a novice trader, paying attention to the elements listed above might help you avoid being overloaded.
Disclaimer: The information on this website is solely to educate our viewers or clients. Before investing in cryptocurrencies, we strongly advise you to conduct a thorough study and get the advice of a certified financial professional. This content should not be used to make specific judgments about the usage of cryptocurrencies, legal concerns, investments, taxes, cryptocurrency mining, exchanges, wallets, or anything else. Any thoughts or opinions expressed in the article are exclusively the author’s.