A broker or stock exchange plays one of the key roles in the success of a crypto trader. On the other hand, if you have little experience in this area, you will hardly be able to make an advantageous choice without an outside opinion. That is why we want to offer our expert help.
To begin with, we would like to discuss two main types of sources for trading digital coins: exchanges and brokers. Thus, the first category of services makes it possible to directly exchange fiat money for digital coins or one cryptocurrency for another. Typically, these platforms offer a wider selection of products and currency pairs as well as high liquidity. This option is a perfect choice for trading small amounts. While brokerage sources also allow trading of the same types of transactions, they also offer a wide variety of other assets besides crypto coins. In addition, their functionalities are more diversified and advanced. They play the role of intermediary by finding a counterparty to transactions opened by their clients.
It’s time to move on to choosing the best crypto trading platform. Our list includes 8 names, and for your convenience we will also mention their main characteristics. We should note that this selection is compiled for US residents in the first place, but a larger portion of these services are also available globally.
- Coinbase is a safe choice for beginners.
- Binance – a low-cost universal platform for any country (there is both a US home service and an international version).
- Kraken is an advanced source with diverse functionality for active and high volume trading.
- Bitfinex – an anonymous service that offers a wide variety of products and order types and is primarily aimed at professional traders.
- eToro – a commission-free service for copy (or social) trading.
- Robinhood – an extremely user-friendly mobile brokerage platform for free crypto trading.
- Bittrex is a highly secure source that offers 250 different coins.
- Gemini is another user-friendly exchange that provides a separate, streamlined interface for beginners.
Also read: Gemini vs Coinbase – Which one is better? How to choose
In summary, when choosing services for this rating, we have made every effort to consider all major aspects, including a variety of assets, available functions, fees, security concerns, convenience, etc. Thus, we believe that every company mentioned deserves your attention. But, if you are looking for the most universal option, this is Coinbase.