7 Best Crypto Exchanges and Bitcoin Trading
The cryptocurrency market has been booming over the past decade and Bitcoin has become a word of mouth of almost every investor. A considerable volume of investors has been involved in Bitcoin trading. Now, for trading Bitcoin, the first thing to do is to choose a trusted and reliable cryptocurrency exchange to avoid any kind of scams or fraudulent activities.
With the rise in Bitcoin trading, there has been a number of crypto exchanges popping up which has been a cause of immense concern. Due to the increasing number of exchanges, the incidents of scams and frauds have also increased. It is precisely the reason as to why choosing the right crypto exchange is of immense importance. To make the selection task easier for the traders, here we have listed the seven top crypto exchanges.
EToro is considered to be the overall best crypto exchange and hence becomes the top choice for the crypto exchanges. It came into existence in the year 2007 by two Israeli brothers and was initially named RetailFX. Since its inception, EToro has evolved to become one of the top crypto exchanges in the world. By the end of the year 2020, EToro has more than about 17 million users, thereby clearly indicating the popularity of the exchange. Its user-friendly platform makes buying crypto on eToro very convenient for traders. Here is what the traders can get while trading via EToro exchange.
- At EToro, the traders can trade the top 15 cryptocurrencies that include Bitcoin, Ethereum, and many more. Traders located outside the United States are able to trade non-crypto assets as well on EToro.
- Registration on EToro is quite easy and convenient that requires a minimum deposit of 50 dollars. After registration, the traders need not maintain a minimum account balance.
- EToro’s platform is extremely easy to use with a wide variety of features, thereby making it perfectly suitable for beginner traders too.
- The novice traders can use a virtual account or demo account for the practice where no risk of real money is involved.
- EToro has a good volume of educational content on its website for the benefit of the users.
- The users can check out the CopyTrader tool from EToro that allows traders to copy other trades of high-performing traders.
- Finally, the traders can avail themselves of a completely operational trading application for trading with ease and convenience. In addition to this, EToro offers a mobile wallet app that can be linked to the users’ accounts for enhanced security.
Binance is another of the top crypto exchanges in the world which is particularly popular for trading Altcoins. Binance is the largest cryptocurrency exchange in the world. It was founded in the year 2017 with the headquarters in Malta and since then it has earned the reputation of being one of the best crypto exchanges in the world to trade cryptocurrencies. Although Binance complies with the US regulations, residents of only 28 US states can use the platform. The exchange takes pride in generating very high volumes of trade in the exchange space globally. The traders can avail of the following benefits at Binance.
- Binance allows trading an array of Altcoins to trade in addition to trading fiat money.
- The crypto exchange offers a total of 600 pairs of cryptocurrencies for the traders to trade which proves to be highly advantageous. But Americans can avail themselves approximately a hundred pairs which is still much more as compared to other crypto exchanges.
- There are several options for payment such as credit cards, debit cards, or via GBP or EUR purchases.
- The fees charged by Binance is 0.1 percent for both the maker as well as a taker. These fees scale down with the volume of trading.
- Trading with Binance’s native cryptocurrency Binance Coin or BNB enables the traders a 25 percent discount.
- Binance offers several useful features that benefit traders. The new traders can also benefit from the high volume of educational content available on the website.
- The exchange also has several advanced tools for professional traders that include an advanced charting feature which is an incubator lab for different blockchain projects along with a Launchpad for the new tokens.
BlockFi is another very popular crypto exchange and is considered to be the best for interest-earning accounts. The exchange came into existence in the year 2017. It is based in and regulated by the United States which has empowered the users to trade crypto and start earning on it. BlockFi is backed by some of the important players in the financial industry like Fidelity and SoFi. The traders can get the following from the exchange.
- The traders need not invest anything to sign up or create an account on BlockFi,
- There are no fees charged for trading. In addition to this, no minimum deposit is required to be made by the traders.
- Gemini is the custodial agent of BlockFi that might give the traders a withdrawal minimum if they have a BlockFi Interest Account or BIA.
- The BlockFi Interest Account or BIA is undoubtedly the for earning interest that offers a six percent annual percentage yield on Bitcoin, with even more interest on some other cryptocurrencies. Here the traders can make use of the special interest calculator from BlockFi to get an idea of the interest that can be earned at a given point in time.
- BlockFi provides the users with regular trading accounts, business accounts, and crypto-backed loans for the expansion of users’ profiles.
- The exchange provides the world’s first Bitcoin rewards credit card which is all set to debut in different US states. This card gives 1.5 percent cashback in Bitcoin on every purchase.
- The BlockFi platform is easy to use and traders can use it either on desktop or the mobile app.
Coinbase is considered to be one of the best crypto exchanges which were founded in the year 2012. Since its inception, it has become one of the very popular Bitcoin exchanges which have the highest trading volume among American traders. It is fully regulated and operates in more than about 40 states & territories. Here is what traders trading on Coinbase can get.
- Coinbase offers traders 22 different cryptocurrencies for trading on both intuitive platforms and the Global Digital Asset Exchange or GDAX.
- The exchange offers fiat currency trading which is precisely the reason why it is considered to be one of the best crypto exchanges for the newbies entering the field of Bitcoin trading where they can get money into their bank accounts directly without any hassles.
- Creating an account at Coinbase is quite easy and convenient that requires a minimum deposit of 100 dollars. Moreover, the users are eligible for a bonus ranging from 5 to 10 dollars.
- Coinbase charges a fee ranging from 0.99 to 2.99 dollars per trade, depending on the dollar value of the trade.
- There are no fees for withdrawal at Coinbase and GDAX does not charge any fees for funds transfer between the users’ Coinbase and GDAX accounts.
- There is a wide array of features in Coinbase for the traders that are tailored as per their needs.
- Coinbase offers custodial accounts to make it easier for entrants in the field of crypto trading. The exchange offers a fantastic collection of learning resources for educating the newbies in the right manner.
- Once the traders get used to the regular interface of the Coinbase account, they can easily upgrade to the Coinbase Pro account which is designed for the more experienced traders. The pro account has more competitive fees, more advanced charting, and indicator options for easy tracking of investments.
PrimeXBT is one of the top crypto exchanges in terms of trading CFDs on cryptocurrencies such as Bitcoin, Ethereum, and a number of other digital assets. It came into existence in the year 2018 in Seychelles and presently operates in about 150 countries of the world except for the US and Canada because of the stringent crypto exchange regulations. In spite of excluding users from such a strong crypto market base like the US and Canada, PrimeXBT has achieved exponential growth over the years. PrimeXBT offers the following benefits to the users who sign up on the platform.
- PrimeXBT offers more than 50 assets of various types to trade.
- The exchange offers only accept payments via Bitcoin and no fiat currency but the traders can very easily convert the money to Bitcoin via the special Changelly API.
- PrimeXBT is one of the best crypto exchanges for CFD trading since it is entirely Bitcoin-based. The exchange offers CFDs in five major cryptocurrencies that are Bitcoin, Ethereum, Ripple, Litecoin, and EOS.
- The minimum deposit in a PrimeXBT is 0.001 BTC and there is no deposit fee but a fixed withdrawal fee of 0.0005 BTC for each transaction.
- PrimeXBT charges a fee of 0.05% for all cryptocurrency-based trades. Moreover, the users also need to keep in mind the Changelly API conversion fees.
- The platform of PrimeXBT is sleek and straightforward with different useful tools such as price charts, Bitcoin leverage, and copy trading. The traders can also access their accounts through the mobile app of PrimeXBT mobile app.
- PrimeXBT offers round the clock customer support in a total of nine languages including English to cater to the requirements of users across the world.
Voyager is another very popular crypto investment platform. It was one of the first publicly traded exchanges. It is a platform that has simplified crypto trading and can be entirely accessed via mobile application. Here are a few things that users can get on the platform.
- Voyager has a very easy-to-use interface, thereby making it easy for traders.
- It is a commission-free trading account.
- The exchange pays up to 9 percent on the crypto assets.
- It routes trades to over a dozen of exchanges and provides fast as well as optimized order routing.
Crypto.com is one of the largest as well as fastest growing crypto exchanges. It was established in the year 2016 and is based in Hong Kong but it provides great support for the customers based in the United States. It is an application-based platform that offers easy crypto trading. With Crypto.com, the users can get the following benefits.
- The exchange allows access to over 90 tokens and coins globally. It offers 50 tokens and coins if the users are in the United States.
- Crypto.com offers weekly interest on crypto savings.
- The traders can get a debit card linked to the account.
- Crypto.com offers extremely low fees starting from 0.04 to 0.20 percent depending on the trade.
- The exchange allows traders to have a non-custodial DeFi wallet. The wallet can be tracked via a separate app of its own. With the wallet, the users can easily link the Crypto.com account to the main one for ease of transfer of funds.
Future of Bitcoin Trading
With the rise of Bitcoin trading in recent times, it can be very clearly understood that the future is quite bright. More and more traders are entering the field of Bitcoin trading, thereby clearly indicating its popularity among the traders. Blockchain technology is evolving on a regular basis with an increasing number of blockchain development companies coming up to create something new and innovative. With the evolution of blockchain technology, it is expected that Bitcoin trading will also take a new shape. Let us wait to see how Bitcoin trading shapes up in the time to come.
Author Bio – Ritam C
Ritam Chattopadhyay is a seasoned writer with over half a decade of experience in professional content writing. Ritam’s expertise in content writing has enabled him to work with clients globally on different projects. Presently, he is working with SoluLab, a premium blockchain development company where he handles multiple projects as a content specialist.