With its increasing success and popularity, cryptocurrency has attracted a lot of investors globally. There are many different cryptocurrencies, with Bitcoin and Ethereum being the most popular and valuable, giving investors a wide range to choose from.
Because of that, there have been many cryptocurrency exchange sites, but some have had instances of criminal swindling investors of their gains on poorly protected exchange sites. Therefore, if you are planning on starting on a crypto exchange site, you need to consider factors like the site’s security, fees, ease of use, and the number of available coins for you to trade. Here are some of the top cryptocurrency exchange sites you can choose from.
Established in 2012 and run by Coinbase Global Inc., this is among the most popular and used crypto exchange sites globally. It is also one of the best for beginners because of its easy-to-use layout when selling, buying, and storing cryptocurrency. It also provides traders with the latest news about alternative coins like Dogecoin, new and upcoming cryptocurrency projects, and what is next in the digital assets world.
It’s free $5 in Bitcoin when you open an account, and the direct onboarding process also makes it one of the most preferred exchange sites. If you are an experienced trader, you get access to Coinbase Pro, which has advanced crypto trading tools and charts. Coinbase supports numerous digital currencies and altcoins, giving you a wide variety to choose from.
One of the main disadvantages is that Coinbase is one of the most expensive exchanges in the market.
Binance has been operational since 2017 but has quickly gained popularity among beginner and experienced crypto traders. It supports over 500 cryptocurrencies and is available in over 180 countries. One of the main things that have made Binance so popular is that traders can transact with almost any alternative coin in the market, and traders can start trading on it with as little as $1.
There is also a feature known as the Binance Academy, where beginners can access short videos to learn about blockchain and cryptocurrency. Other good qualities of the site are low fees, an easy-to-use mobile app, and strong charting tools. While it accepts debit and credit cards, you cannot exchange US dollars for cryptocurrency, and you have to use the US-regulated crypto exchange if you are from the states.
The Robinhood Markets Inc. app is common for commission-free stock trading and barring users from selling GameStop Corp. While it’s a stock-first app, it started rolling out crypto trading in 2018.
Robinhood only offers Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dogecoin, and Bitcoin SV. While the selection is not as wide as other exchange sites, it is good for beginners. The company has a mobile-first mindset, which has seen them develop an easy-to-use app with no trading fees, making it easy and cheap to register.
They have hot storage connected to the online crypto exchange and cold offline storage to keep traders’ assets safe. The site has no minimum deposits and does not allow traders to withdraw their coins and transfer them to a wallet of their choice.
Gemini was founded in 2014 by the Winklevoss twins and is commonly known because of its compliance and high security. The two main traded cryptos are Bitcoin and Ethereum, but it offers over 50 other cryptocurrencies.
Gemini is insured by Federal Deposit Insurance Corp, and it undergoes cryptocurrency audits plus regular bank exams. Their trading fees depend on trading frequency, which means that the more you trade, the less the fees. The site is straightforward but does not accept debit and credit cards.