- Avinandan Banerjee
- September 28, 2023
Cryptocurrencies empowered by the Blockchain technology is a revolutionary technological achievement that aims to transform the concept of finance. It has only been a decade since this technology has been introduced in the market. However, the cryptocurrency sensation has taken over the world like a storm.
That is exactly why for many, understanding cryptocurrencies can prove to be quite challenging. Moreover for those who are new to the world of cryptocurrencies, figuring out the right platform for trading could be a daunting task.
There are many crypto exchanges that offer exciting features such as providing staking rewards, which means one can earn rewards for holding cryptos. In addition to that several other features like cryptocurrency trading tools, margin trading and so on are provided.
Following are some of the best cryptocurrency trading exchange platforms that individuals can use for trading crypto and other digital assets.
Coinbase: Perfect for Bitcoin-based traders
Coinbase offers more than 80 different cryptocurrencies, including the popular Bitcoin, Litecoin, Ethereum, Ripple and Dogecoin. The exchange also provides a host of options for institutional clients and individuals. Some of the features offered on a Coinbase account include Android and iOS applications for mobile, an account option known as Coinbase Earn. This account pays an individual in crypto for watching videos with educational content and staking rewards as well.
There are two other options provided by Coinbase, namely Coinbase Pro which is meant for advanced traders and for clients with high net worth (traders with at least $ million) and similar institutions, they offer the Coinbase Prime platform. Users on Coinbase Pro can gain access to some of the most advanced features such as charting tools, secure bots for trading and order books that project real time data.
Institutional clients will also have other options to explore from such as cold storage service which is an offline storage service for crypto assets and commerce services. In addition to this, they also provide an asset hub which allows the issuers to list, as well as to grow their products.
Binance: Optimal option for low fees
After Binance had halted their services for the US based customers, they had launched Binance.US. The exchange is primarily focused on US based customers and traders and the platform supports over 50 different cryptocurrencies. Similarly like Coinbase, they also offer their services for institutions and individuals separately.
The most prominent of their services and perks include rewards for staking cryptos, crypto trading pairs, OTC trading, Stablecoins and recurring buys. These services give the option to invest automatically on a certain schedule that has been fixed.
Speaking about rewards from staking, Binance offers 1-10% for simply holding different digital assets over a prolonged period of time. For instance, if an individual decides to hold 20 QTUM in their Binance account, he or she will be able to earn 1-2% of that value as a reward annually.
Furthermore, they also provide a wide variety of services and features for clients who are in the institutional category. These services include their Websocket feed that can generate market data on a real time basis, OTC trading portal, a trading API, monthly rewards for staking and of course 24/7 client support.
Kraken: Best option for margin and futures trader
The crypto exchange platform Kraken offers more than 80 different crypto assets for retail as well as institutional clients. However, speaking of global support, Kraken’s reach extends that of Binance.US. The crypto exchange offers their services in a little over 200 countries throughout the whole world.
The platform offers services in both futures trading along with margin trading. One can borrow around five times their account balance with the help of the margin trading option in order to trade crypto assets on their platform. The futures trading option allows clients to trade only with bitcoin, ripple, ethereum, bitcoin cash and litecoin.
Kraken also provides their very own platform for futures trading. But the institutional level clients can leverage the option of expert insights, support for account management, special one to one consultations and so much more.
CEX.IO: Best for selection of cryptocurrencies
This crypto exchange platform is based out of London and offers their services throughout 99 percent of the countries throughout the world, which includes 48 states in the United States. The platform provides their clients access to more than a host of 80 cryptocurrencies other than bitcoin.
The exchange allows all the users to access the instant buy feature available on this platform. In addition to that, they provide features such as loans backed by crypto, mobile apps and staking rewards as well.
Gemini: Perfect for trading in Ethereum and Bitcoin
This platform also offers a wide array of options for institutional and individual users. Traders have been given access to multiple platforms which includes the Gemini apps for Android and iOS, Gemini Web Exchange, Gemini Fund Solutions, the Active Trader platform and the institutional tools for trading.
Bittrex: Best for security concerns
Bittrex is a really tough competitor when it comes to the security concerns of trading accounts. Apart from using authentication systems, they also use a multi stage strategy for the digital wallets. They keep the funds in a cold storage which in actuality is offline storage. The transaction fees on Bittrex is also much lower when compared to other crypto exchange platforms.
This is a crypto exchange based in Luxembourg which offers around 20 cryptocurrencies on their trading platform, including options for institutional and advanced crypto traders. Clients in the United States can use Bitstamp USA which is their subsidiary for the US clients. One would require a minimum of $50 to start trading and the lowest amount of fees start from 0.5%.
The commission fee structure available on this platform is perfect for those who are willing to invest low. However their selection of cryptocurrencies are on the lesser side. The platform provides access to only a handful of crypto assets such as Bitcoin, Bitcoin SV, Bitcoin Cash, Ethereum Classic, Ethereum, Litecoin and Dogecoin.
These are some of the best cryptocurrency exchange platforms that are available out there. Even though there are talks of high volatility in the crypto market, it cannot be denied that Blockchain and Cryptocurrencies are reshaping the world of finance and many industries throughout the world. However it is always advisable to learn Blockchain and learn cryptocurrencies thoroughly before investing and trading cryptocurrencies by oneself. A certified cryptocurrency course provides all the fundamental information one can seek before dipping their toes in the world of crypto and enjoy the unlimited benefits it offers.