Cryptocurrency trending’s popularity has been skyrocketing over the past few year. This can be attributed to the enormous rise in the value of Bitcoin but also many other digital currencies. Some of these other coins include Ethereum, Dogecoin, Tether, or BNB. If you’re a newcomer to the cryptocurrency world, it might be intimidating to start. We are all aware of numerous scams that have happened and continue to occur in the industry.
Fortunately, there are many legit and reliable crypto platforms and exchanges. These platforms allow users to buy and sell cryptocurrencies in a safe and transparent manner. In order to start, you should research each particular crypto platform you are interested in using. You can do this by reading in-depth reviews (like this Yieldnodes review), and get familiar with additional fees and pairs.
To help you find a starting point, we’ve compiled a list of the best cryptocurrency platforms to choose from today. This list includes the likes of Coinbase, Gemini, Crypto.com, eToro, and Kraken.
Below, you will find short overviews of the pros and cons of each of them.
Before You Buy
Prior to investing in crypto, there are some things to know before you start investing. With many markets, the crypto market is very volatile. The market value of coins can jump anywhere from a few percentiles to 10%-20% in a day. There have even been instances when the prices fall significantly in a few hours.
Taking this into consideration, you really need to ask yourself what your goals are. If you want to build long term wealth because you believe in the technology, then you may want to invest. However, if you just want to get rich quick, you should reevaluate your motives.
Before you start investing, understand you can lose a good portion of your portfolios value. If you can bear this risk, then investing in crypto can be very rewarding.
With that said, lets now look at the best cryptocurrency platforms to choose from today!
We’re all aware of Coinbase, which is one of the biggest and most popular cryptocurrency platforms. Coinbase has millions of users from around the world. Founded in 2012, it has expanded to over 20 countries and has a simple and intuitive user interface that makes it easy to use for newcomers. Unfortunately, Coinbase is only available in 32 countries, and it’s not supported in some important markets, such as India.
In addition, this platform doesn’t support a wide array of cryptocurrencies but rather focuses on Bitcoin, Ethereum, and Litecoin. It also has a very high fee structure, and transaction times can be lengthy. And last but not least, Coinbase is heavily regulated by the U.S. government, which may be a concern for some users, however can be beneficial in other instances depending on how you look at it.
Coinbase is one of the best cryptocurrency platforms to choose from and is even a public company meaning you can buy their stock. This means that they are under tight regulations from the US Securities and Exchange Commission (SEC) and have to follow the rule of law. This can add peace of mind to those trying to find the best crypto platform.
Another well-known crypto platform is Gemini, which was founded by the Winklevoss twins back in 2015. As a New York-based cryptocurrency exchange, it features a clean design, low fees, and support for many cryptocurrencies compared to Coinbase.
However, this crypto platform is only available in 42 states in the U.S.. This is a huge drawback for residents who live outside these states or in other countries across the world. Additionally, Gemini does not allow users to withdraw or deposit fiat currency, which may be a concern for new users who don’t have a lot of experience with digital currencies yet.
In order to deposit funds into this platform, you need to transfer cryptocurrencies from another platform. This adds an additional step which will cost you time and transaction fees.
While not as popular as Coinbase and Gemini, Crypto.com is one of the best cryptocurrency platforms to choose from s as it offers many perks and benefits.
This Hong Kong-based cryptocurrency platform allows users to buy and sell digital currencies in a safe and secure environment while remaining anonymous. Another great perk is that Crypto.com offers a wide array of cryptocurrencies and pairs, including Bitcoin, Ethereum, Tether, and Binance Coin.
But still, this platform is only available in certain countries outside of the U.S. This means that it has a limited range of users. In addition, all transactions on Crypto.com are subject to a high fee of about 5% on each purchase or sale order. This can be quite expensive for the average user and add up over time.
eToro is an online trading platform that allows users to buy and sell cryptocurrencies with other users while benefiting from the wisdom of the crowds. The platform is quite intuitive and easy to use while being open to traders from more than 140 countries worldwide. In addition, eToro supports multiple cryptocurrencies such as Bitcoin, Ripple, Ethereum, Dash, Monero, Litecoin, Cardano, NEO, Stellar, EOS, IOTA, and others.
However, unlike other platforms mentioned above that offer both buying and selling cryptocurrencies, eToro only gives you access to buy them. If you want to sell them, you will have to transfer your holdings to a different platform or wallet. Furthermore, this platform doesn’t support fiat money, and it’s only available in certain countries around the world.
Another one of the best cryptocurrency platforms to choose from is Kraken. Like other platforms mentioned above, Kraken is another one of the well-known cryptocurrency platforms to choose from. Since 2011, it has expanded to over 20 countries worldwide. This platform supports a wide array of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, Monero, Stellar, Dogecoin, Stellar, Cardano, and many others.
While this crypto platform has many benefits, it’s only accessible in certain countries around the world. It is also heavily regulated by the U.S. government. In addition, as with Coinbase and Gemini, you cannot withdraw or deposit fiat currency on Kraken.
Best Cryptocurrency Platforms to Choose From – Summary
If you’re a newcomer to the world of cryptocurrencies, choosing a good platform for your first purchases and trades is a crucial step. After all, there are plenty of platforms out there that may seem legit, but they’re not reliable at all. This is why we wanted to provide you with a list of the best cryptocurrency platforms to choose from.
In order to avoid scams and frauds, you should research the crypto platforms that are available in your country, read reviews about them, and make sure to check their fees, supported cryptocurrencies, and reputation. Also, before you invest, make sure you have a strong financial standing.
Be sure to be vigilant when choosing a crypto platform and never make rushed decisions. After all, your funds are at stake, and you want to make sure that your money will be safe and secure. If you’re new to the world of cryptocurrencies, we strongly recommend that you first use an exchange platform until you’re ready to jump in and buy directly from other users through different websites or applications.
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