What are the Best Crypto Exchange Platforms?
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Thinking of Investing in cryptocurrencies but don't know where to start?
The first step is to get yourself a crypto wallet which can be used for all your transactions and to hold your crypto.
With this wallet you are able to buy, sell, transfer (send and receive) and trade.
Choosing a crypto exchange platform can be very tricky for newbies, especially when you don't know what your doing. There are many of them to choose from but in this short blog we will just concentrate on the 3 that we personally use and recommend.
This exchange has been around since 2012 and is the largest exchange in America. The first and maybe the easiest to use for buying and selling all sorts of cryptocurrencies, like bitcoin, ethereum, litecoin and about 50 others. You can also use Coinbase to convert one cryptocurrency to another, or to send and receive cryptocurrency to and from other people. Like stock trading apps you may already be familiar with, Coinbase shows you the current price and trends for cryptocurrencies, a look at your portfolio of holdings, and news stories about the industry.
Positives
This platform is probably one of the easiest to use and has its own app that you can do all your transactions in one place.
Easy enough for beginners and professionals alike
Great place to start your crypto journey as a beginner investor
There "Learn and Earn" feature is a great way to earn FREE crypto by watching short presentation videos on new cryptos and answering a short questionnaire
Negatives
The fees are probably some of the highest we've seen on an exchange which means you are paying quite a big percentage on your transactions although converting to different cryptos, sending and receiving is free
To create an account with Coinbase you can use our link and get $10 free when you buy crypto.
Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
Binance also offers an earn feature (Binance Earn) that allows you to earn Up to 35% APY on your crypto.
Get ahead on your crypto goals with top rates for the world's most popular cryptocurrencies. Start earning high-yield interest rates on your crypto.
Positives:
Very low rates on withdrawing your crypto to standard USD, GBP etc
Free to exchange cryptos to another address
USDT TR20 and ERC20 supported coins
Negatives:
Quite a challenge to understand where all the different features are, especially for newbies.
To create an account with Binance you can use our link and get $100 USDT cashback voucher when you deposit $50 or more.
Kraken is one of the world’s largest digital asset exchanges and the leader in euro volume and liquidity. Globally, Kraken’s client base trades more than 90 digital assets and 7 different fiat currencies, including GBP, EUR, USD, CAD, JPY, CHF and AUD.
Kraken was founded in 2011 and was one of the first exchanges to offer spot trading with margin, regulated derivatives and index services. Kraken is trusted by well over 8 million traders and institutions around the world and offers professional, round the clock online support.
Positives:
Has an easy to use app which makes it much more manageable for newbies buying cryptos.
Industry leading fees from as low as 0% - 0.26% depending on the currency pair traded
More than 120 coins supported: Kraken supports popular currencies including Bitcoin, Ethereum, Cardano, Solana, and Dogecoin
Negatives
Not exactly beginner friendly.
Slow verification process for new accounts.
No support for credit/debit card deposits.
Our overall impression of these three crypto exchange platforms is positive with Coinbase being the best for beginners and Binance better for the more experienced trader. This is not investment advice. It is only our feedback and recommendations on how to start investing in crypto. Please do your own research on investing in the crypto market as we will not be held responsible for any losses incurred.