Best cryptocurrency exchanges for 2021 and why you should choose them.
The cryptocurrency market is rapidly transforming into its mainstream financial counterpart. The cryptocurrency exchanges are a sign of this change.
Crypto exchanges have been around for more than ten years. They function as intermediaries for buying and selling of digital currencies. You can enter funds in fiat and buy a bunch of crypto coins for holding or trading. For instance, you can buy litecoin and then trade them for BCH. Exchanges offer multiple trading pairs for you to choose from.
Benefits of Using an Exchange:
There are multiple places available for buying bitcoin and other cryptocurrencies. Out of all these, why chose crypto exchange? Well, first of all, crypto exchanges charge a lower fee than other methods. Additionally, there is an element of trust. Popular exchanges are well-established institutions. They never scam people and have the support of a large community. Coinbase is an example of a trustworthy exchange.
Below are some other benefits of using crypto exchange.
Crypto trading is much easier on the exchange than on any other medium. You can conveniently store the assets which you intend to trade. Most of the crypto exchanges keep the assets in cold storage (ensuring the safety against hacks). Moreover, the presence of a large number of individuals makes liquidity possible.
Crypto exchanges also provide incentives to their users. For example, market makers get a special discount on the transaction fee while trading on Binance exchange. Likewise, many other exchanges give gifts and rewards over meeting certain milestones. These marketing strategies increase the client has of an exchange.
Interest Through Staking:
The staking is when you put your asset on an exchange and earn interest on them. In hard staking, users do not have access to their holdings. They can only take out interest. Whereas soft staking gives flexibility where users can take out the original digital assets and take interest as well.
Trading on a cryptocurrency exchange is timely. You can instantly sell without spending much time on finding the right customer. Moreover, the trading exchanges have prices in accordance with the market value of the asset.
In this article, we will list down the best cryptocurrency exchanges for 2021.
What to Look For in a Cryptocurrency Exchange?
There are different types of cryptocurrency exchange platforms available on the market. The best exchange for a crypto trader is the one that caters to his/her unique needs. Here are the factors you should take into account before picking an exchange:
- The exchange must be secure: You wouldn’t want your hard-earned money to go down the drain.
- It must have a reasonable fee: Too high trading fee will have a toll on your portfolio.
- The exchange should be easy to use: The difficult interface can make your trading endeavours harder than they should be.
Here are some of the best crypto exchanges in 2021 according to our review.
Read More: Bitcoin: A Store of Value in 2021
Best Cryptocurrency exchanges for 2021
Coinbase is one of the most popular cryptocurrency exchange. Crypto user utilizes this exchange for buying & selling digital currency. This platform offers its own wallet for storing cryptocurrency. Coinbase operates in more than 100 currencies and has over 43 Million verified users.
Why Choose Coinbase?
- Coinbase is best for beginners due to its simple user interface.
- Liquidity on the platform is very high thanks to the huge customer base.
- The total trade volume on the exchange is over $455B.
- The platform is supported in more than 100 countries of the world.
- It has a mobile app for both Android and iOS devices
Binance prides itself for being the world’s largest cryptocurrency exchange. The malta based exchange is known for innovative drives. You can trade more than 150 cryptocurrencies on Binance. It offers the option of integrating your current trading application using API.
Why Choose Binance?
- You can efficiently do online trading by leveraging multiple tools provided by the platform.
- The daily trade volume on Binance is over 1.2 Billion dollars. This increases the liquidity on the exchange.
- You can use Binance trading platform on the web as well as mobile with Android & iOS applications.
- Binance is best for both beginner and advanced level traders with its different set of interfaces.
- The accounts are made secure by 2FA, Address whitelisting and email whitelisting features.
Kraken is one of the oldest cryptocurrency trading platforms in the business. It was launched in 2013. Recently, Kraken made it into the news by launching the first-ever crypto bank. It currently offers more than 150 trading pairs option to crypto traders.
Why Choose Kraken?
- It is considered one of the original, authentic and trustworthy crypto exchanges out there.
- Kraken’s trading platform has never been hacked.
- You can fund your Kraken account through multiple channels.
- There is a high number of crypto traders using this platform. The trade volume is over 60 million dollars.
- The transaction fee on exchange is not very high.
You can buy, sell and trade crypto instantly on Coinmama. It is one of the best cryptocurrency exchange in terms of fast procedure. You can easily buy digital currency using a debit/credit card. The platform operates in 188 countries across the globe. It has over 2 million users.
Why Choose Coinmama?
- Multiple payment options like debit card, credit card, bank transfer and Apple pay.
- The platform has fast track account verification process.
- All popular currencies like Bitcoin. Bitcoin Cash, Ethereum, Ethereum Classic, Cardano, Litecoin and Tezos are available for purchase.
- It doesn’t require any deposits. The user pays the money and gets digital coins instantly transferred.
- The cryptocurrency exchange has simple, customer-centric approach.
Also Read: Best Automated Crypto Trading Bots
eToro is one the best exchange platform for beginner level crypto traders. It was founded in 2007. The company offered copy trading feature to the traders. In 2017, eToro launched crypto portfolio feature facilitating the crypto trading. At the moment, 15 cryptocurrencies can be traded on eToro.
Why choose eToro?
- The exchange offers social/copy trading feature.
- Hight trustworthy.
- Old and established exchange.
- Easy to use on the web as well as the mobile application
Perks of Automated Trading:
Automated crypto trading is a popular trend in 2021. It is fast, efficient and secure. The profit margin is very high for crypto traders who opt for bot instead of manual trading. There are multiple automated trading software available in the market. Nonetheless, the best one so far is digiebot. Here are some of the features that make digiebot better than ever other automated crypto trading bot:
- Algorithmic trading (20+ Algorithms) with a high rate of success
- No prior trading experience required for operating the bot.
- Use of volume indicator
- Accurate market analysis
- Money management
- Support & trust of the large trading community
- Weekly updated by developers
Digie is way ahead of its competitors in delivering the best performance. You can sign up for digiebot here and start trading today on Binance and Kraken exchanges.
The best cryptocurrency exchanges for 2021 are the ones already in news. They have huge community support and trust of millions of users. You can choose from our list and begin the journey of crypto trading with optimism.