Today is a big day in the history of bitcoin trading as the popular cryptocurrency has managed to reach a value of $30,000, continuing its amazing rally all through 2020, while also breaking its own record that it had set last month.
Looking at this upward trend in case you were wanting to take a dip in the bitcoin or crypto-investment waters and wondering what are the most popular bitcoin exchanges you should consider signing up for, we’ve got you covered.
Coinbase is one of the most popular and most trusted bitcoin trading platforms in existence today, especially in the US. It commenced in 2012 and is a fully regulated and licensed cryptocurrency exchange.
It is known for its clean and simple to use UI. It also offers good choices for altcoins. One thing you need to look out for is the transaction fee which can feel a little steep when using the free tier.
CashApp is a bitcoin exchange platform perfect for beginners. It is essentially a peer-to-peer money transfer system where you can use the app to transact at a variety of establishments supporting the platform, but it also helps in transacting with bitcoins. However, for now, it only allows investing in Bitcoins, not trading. You can withdraw money from your bitcoins, however, there is a withdrawal limit of $2,000 worth of Bitcoin every 24 hours, but it is a great place to start for beginners who are trying to understand how bitcoins work.
In case you’re well versed with the way bitcoins work and are looking to get into hard-core trading, Binance is a platform that would really come in handy. Founded in 2017, Binance offers nearly 600 different trading pairs between different cryptocurrencies.
It does offer some fiat/crypto pairs, but most of its pairs are between cryptocurrencies. It is also known for lower trading fees compared to the competition.
When wanting to sign up for a bank account, they often ask some sort of identification to get started and without valid identification, you won’t be eligible to sign up for services. Bisq offers a bitcoin trading platform that is completely decentralised and doesn’t require a KYC for people to sign up. It also offers a variety of payment options to choose from. The only catch is that transactions can take time depending on the payment method and this basically means that trading volumes are lower, meaning the platform isn’t ideal for active trading.
Looking for an exchange that’s secure as well as easy to use? Check out Coin Mama. The platform is known for its security and has an extremely user-friendly UI to make new users feel at home.
It is also known to have a helpful customer support team should you land in some trouble. Although all these cool services come at slightly pricey fees. Moreover, the platform lacks a variety of cryptocurrencies to choose from.
Kraken is another bitcoin trading platform known for a secure user experience. It is also one of the few that don’t charge exorbitant fees for transitions, while also hosting a large number of users. Just make sure that whatever you do, don’t try to land in some trouble as their customer service support isn’t the best. It also lacks variety in coin options.
Another really secure trading platform, Gemini is perfect for both beginners and advanced users. It is known to take extra security measures to deliver a stress-free trading experience.
Although this security comes at a price as while signing up it takes a ton of personal information of its users, which not many would appreciate. Moreover, it lacks variety in coins and a very limited selection of funding options.