Understanding the cryptocurrency industry and how to trade can be overwhelming and intimidating at first. Interestingly, if it’s your first time in crypto trading, finding a reliable cryptocurrency exchange platform to trade different coins can be a game-changer.
Today, 70 percent of your success in cryptocurrency trading depends on the platform you choose. Why stay behind when everyone is on the cryptocurrency bandwagon?
Whether you aim to trade cryptocurrency regularly or buy and hold for the long term, you need a secure and safe platform. There is often news of people losing their hard-earned money through cryptocurrency hacks and scams. At times, some platforms take hours and days to perform maintenance, which might affect your trading.
You can avoid such a nightmare by using a trusted and established cryptocurrency platform. However, you need a platform that offers low transaction fees, good customer support, margin trading, and multiple cryptocurrency tools and resources.
To make it easier, here is a list of the 2 best exchanges that you can safely invest in trading cryptocurrency.
Best Cryptocurrency Exchange
Binance
Binance remains the leading trading platform with over 300 coins supported for both deposit and withdrawal. It offers users access to several trading assets with unique tools and services.
Besides the Binance exchange, it has P2P trading, credit/debit card service, and much more. The trading platform allows margin trading, spot trading, Binance Futures, and Derivatives. You can register here and start enjoying trading.
Key Features
Top-notch security
Binance offers high-level security for its traders by using SMS verification, email, and two-factor authentication.
Margin trading
If you have a high risk-to-reward appetite, perhaps you can take advantage of Binance margin trading. It caters to users who want to leverage their positions using greater sums of capital.
Pros
- Low trading fees
- Good company reputation
- Multilingual support
- Availability of several currencies
Cons
- Issues with 2FA
- Slow customer support
KuCoin
KuCoin is a renowned exchange platform with over 8.5 million users worldwide. The platform aims to revolutionize how we create and distribute values.
In addition, it KuCoin believes crypto can be used to facilitate the global free flow of digital currency. Interestingly, it has unique features that tend to distinguish it from other exchanges.
Key Features
Community Driven
Both developers and team are enthusiasts to hear from customer’s advice and feedback to integrate into upcoming projects. Furthermore, the company respects all members’ personal financial goals, provides risk management tips, and encourages users to control their risks.
Technology-Focused Products
KuCoin takes advantage of technology-driven products to provide users service. It uses a community-based approach to get people involved in cryptocurrency trading.
Pros of KuCoin
- High trading volumes
- Easy to use mobile app
- Different range of cryptocurrency
- 24/7 customer support system
- Margin trading
Cons of KuCoin
- High trading fees
Frequently Asked Questions
What is a Cryptocurrency Exchange?
An exchange is an online platform that allows users to exchange digital currencies. For instance, your physical bank will enable you to convert one currency to another. However, cryptocurrency exchanges allow traders to hold, sell, and buy different digital currencies such as Bitcoin, Dogecoin, Litecoin, and more.
How to determine the best cryptocurrency exchange?
Each crypto exchange is unique; however, there are certain factors to consider when deciding the particular exchange to use for your trading. You can consider the interface, advanced features and security, transaction fees, crypto wallet availability, trading volume, location, and payment methods for beginners.
Can you purchase Bitcoin on Binance?
Yes. You can buy Bitcoin on Binance using a credit card or any supported cryptocurrency. Besides, you can also hold Bitcoin on the platform if you are a long-term investor.
Conclusion
Therefore, It’s great taking the step to start crypto trading. However, you need to make an informed, and safe decision before the risk of trading is high. The stakes are high and can be quite confusing, especially if you are new.
In conclusion, whether you are new or a seasoned crypto veteran, you must use the best crypto exchange that offers the best feature. Above all, the exchanges listed in this article are trustworthy, secure, and easy to use.
