There are roughly 259 Bitcoin trading platforms globally. As a beginner in the business of trading, one of the most essential tools you’ll need for success is an online reading platform. If you want to learn how to make money trading Bitcoin, your platform will play a huge role in your strategy, and to make your strategy as profitable as possible, you need certain abilities.
To save your time and make your learning process fast, let me show you the best Bitcoin trading platform. Let’s get straight into it without wasting any more time!
Are Bitcoin trading platforms safe?
A bitcoin trading platform is safe or not depends on various factors. As you don’t want to lose your precious Bitcoins overnight, it is better to acquaint yourself with the best possible strategies and platforms. Whenever you’re looking for a trading platform it must have a Two Factor Authentication (2FA). IDs should be scanned and verified. Another important factor is the reputation of the trading platform. This is highly important, you should never use a trading platform if it isn’t well known or reputable in the industry. Using these types of platforms will expose you to a high chance of losing your Bitcoins. You can also have a look at the reviews of the customers about the platform to find out what they think about it.
Here are the top 4 Bitcoin trading platforms.
Coinbase is the most famous crypto trading platform on the entire planet, having over 13 million active users. It was founded in 2012 and is a completely regulated and licensed trading platform.
Coinbase offers a solid option of altcoins to choose from and has a super simple user interface. This is very important if you’re a novice in the trading industry. You don’t want to spend
hours and hours learning these difficult interfaces. This trading exchange has very high liquidity. Coinbase is also a highly respected platform among traders. However, Coin base offers fewer altcoin options as compared to other trading platforms and also has a high amount of fees if you’re using the free version.
Binance, founded in 2017, is another great trading platform that is currently ruling the trading industry all over the world. It makes an important part of the volume of cryptocurrency trading.
Binance is the best trading platform for those who invest or trade in Bitcoin. It is best suited to people who would like to trade or invest in insignificant altcoins.
They also have lower fees as compared to their popular trading exchanges and have a large option of cryptocurrencies and trading platforms. It has an advanced chart.
Although this might be not the best for beginners, as it is loaded with features for advanced users. Around 13 US states including New York City aren’t traded by Binance. But, it has an amazing security system as it uses CryptoCurrency Security Standard (CCSS) to protect and secure the user’s accounts.
Robin is a popular and new trading platform and has over 13 Million users roughly in 2020. Initially, Robinhood was a stock trading platform but recently it also introduced a crypto trading exchange. It’s a good platform overall, especially for beginners. You won’t have access to many features like Binance or Coin base. Although, the plus point here is the simplicity, ease of the user, and short learning curve. All of this is significant if you’re just stepping into the trading market.
Thankfully, It also has no commission fees and 24/7 support. Also, if you have created a stock exchange account on Robinhood, you won’t need to create another account for crypto trading.
Kraken, founded in 2011, is the 4th biggest cryptocurrency trading platform. Kraken didn’t start as a good reputable exchange but then turned out to be a great crypto exchange. It provides access to features such as leverage trading and margin(not recommended for most people). It also has 9 deposits to increase important security. Kraken platform is more than enough if you’re just starting in the trading industry. It has multiple methods or accounts for safety such as online, digital, and even a physical method.
Bitcoin trading is on fire right now. Learning about trading exchanges is a must if you want to be an effective trader. These platforms play an important role in taking you to the height of success. But it is important that you select wisely depending upon the type of trade you want to do and your level of experience.