It is crucial having a thorough knowledge of trading cryptocurrencies before you start. We present a list of the best platforms to trade cryptocurrency in 2022 for you.
The cryptocurrency business took flight when the Altcoins (Bitcoins) appeared in 2011. The market skyrocketed in recent years due to the unique idea of a ‘decentralized’ currency. This means it is beyond the control of the government and central authorities.
The advent of cryptocurrency has created a wide range of diversified opportunities. Traders and dealers can now play on the market prices with freedom.
What Are Cryptocurrency Platforms, And How Do They Work?
Like all other trading platforms, cryptocurrency exchanges furnish you with accounts. You can create different order types to buy /sell (trade) and invest in the crypto market.
Very few crypto exchanges for U.S. users provide advanced trading features. The advanced features include margin accounts and future trading. The rest of the businesses own features like crypto loans and crypto stacking. Such features allow you to earn interest in your crypto belongings.
Top exchanges keep you busier and updated with their educational offers, upskilling you.
Best Global Platforms To Trade Cryptocurrency
About 600 cryptocurrency exchanges all around the world invite investors to trade crypto. They vary in cost, performance, and safety. Forbes digital assets positioned the top 60 cryptocurrency platforms worldwide.
Let’s plunge into some detail of cryptocurrency at its finest.
Binance started in China in 2017 and established business in Malta. It operates in the U.S. and Singapore. Binance is not as simple as other platforms, yet it is the most robust platform.
It’s a diversified platform for investing in a few currencies, such as Cardano and Neo. Binance.US is the version specified for the U.S. with a small coin set compared to its global performance.
The CoinMarketCap reports that Binance is the widest-reaching crypto trading platform globally. It ranks top whether we talk trading volume or weekly site visits.
- Wide range of supported coins and tokens
- Fast transactions
- Low cost
- The U.S. has fewer options, unlike worldwide
- Not available in all 50 states
- Insufficient customer support
Coinbase -Most Suitable For Beginners
Coinbase is the most popular and promising cryptocurrency platform for beginners. They can use trad crypto by investing directly with USD. You can exchange Bitcoin, Ethereum, Litecoin, and 30+ other coins and tokens here.
Note: You can also earn interest on USD and token rewards if you complete several activities.
Different countries, with their exchanges, tend to lose track of regulations and security. It can put them at risk of hacking. Coinbase is working diligently to improve safety. It has competitive rates and is easy to use.
- Friendly interface
- Good options of investable coins and tokens
- High reliability and security
- The high cost (unless you use Coinbase Pro)
- No control of private keys in the wallet
- Slow in adopting upcoming cryptocurrencies
Kraken -Best Of The Earliest
Kraken is one of the earliest platforms to trade cryptocurrency. It has a variety of coins and other digital assets to trade and invests in. They also permit trading margins. However, it is not as simple to use as some other platforms.
Kraken is the rare platform offering you to trade in DOGE and other more risky assets. It has a limited set of coins and tokens for U.S. customers compared to international buyers. It is the most attractive crypto platform for trading cryptocurrency in 2022.
- The longest working crypto platform
- High security and trustability
- A large variety of currencies to trade
- Not easy to use
- Difficulty with two factor-authorization
- Sometimes reported for poor customer service.
Crypto.com -The Novelty to Digital Assets
Cryto.com is one of the largest and fastest emerging crypto exchanges. It offers unlimited support for its U.S.-based customers functioning in Hong Kong. Currently, you can invest in over 90 crypto assets globally. This access varies for U.S. residents as they have limited access to trade in 50 tokens.
The mere downside of Crypto.com is that it is application-based at present. They have not developed an interface for the desktop.
- Unlimited support of coins and tokens
- Pays interest on savings weekly
- You get to have a debit card linking your account
- Complexed fee structure
- Limited interface options (only app-based)
- Limited customer support
Research well by navigating through the best platforms to trade cryptocurrency described above. Cryptocurrency exchanges play a significant role in trading crypto. Analyze their competitive prices and speeds to trade crypto. You can then decide which one you should pick that will work best for you. They are not going to collapse at any point in the future.