5 Best Platform For Bitcoin Trading – You Should Know

Cryptocurrencies are reshaping the world of finance. Many cryptocurrencies are coming to the frontline, presenting themselves to the mainstream currency world, and Bitcoin is the most popular and valuable of them all.

As more and more people use cryptocurrencies, the necessity for reliable cryptocurrency exchanges is increasing. However, the fraudulent activities on the internet horrify the Bitcoin investors as some incidents are centering on the theft of cryptocurrencies from the poorly encrypted Bitcoin exchange platforms.

As a rescue to that problem and clear the hesitation to choose the proper Bitcoin exchange platform, the following article lists the top five cryptocurrency exchange platforms.

What Is A Bitcoin Exchange?

A Bitcoin exchange or bitcoin trading platform is a marketplace where people can buy bitcoins and sell them. But, to speak more easily, Bitcoin exchange, or any other cryptocurrency exchange for that matter, works as a brokerage or intermediary between the buyers and sellers.

Must Check Factors Before Choosing A Bitcoin Trading Platform

One must check these significant factors before choosing any cryptocurrency exchange platform.

• Security and authenticity of the platform.
• Coins that the platform supports for Exchange.
• Users must check if there are any hidden transaction fees. The fees must not be excessive.
• Methods of trade, whether it is helpful for the users or not.
• The overall experience of a user.

Here I have listed the five best cryptocurrency exchanges for secure and profitable bitcoin trading.

5 Best Bitcoin Exchange Platforms

1. Coinbase.
2. Binance.
3. Robinhood.
4. Gemini.
5. Kraken.

Coinbase

Coinbase is undoubtedly the most popular Cryptocurrency exchange platform in the world. The traders have been using this platform since 2012. The platform offers formidable security and transparency in trade which are the top reasons for using this exchange platform.

Reasons For Using:

1. Straightforward and user-friendly user interface.
2. Opening a new account on Coinbase gives the users $5 in Bitcoin.
3. It is the best Exchange for beginner Cryptocurrency investors. The platform allows the users to view all the coins simultaneously and makes the experience easier for the users.
4. Coinbase Pro has more features and tools that experienced users will love. The pro version is best for bitcoin trading.
5. Coinbase supports Bitcoin, altcoin, and hundreds of other cryptocurrencies.

Binance

Binance is newer compared to Coinbase; the platform has only been around for four years.

But the Exchange has been gaining recognition rapidly. The Exchange is based in Hong Kong, and it supports the Exchange of 500 cryptocurrencies, including Bitcoin.

Reasons For Using:

1. Binance takes lower fees compared to other crypto exchange platforms.
2. A vast range of cryptocurrencies and trading pairs are available on Binance, making the users love it.
3. Binance has robust charting tools.
4. The mobile app for Binance is straightforward and user-friendly.
5. Binance is the best platform for trading cryptocurrencies in the day.

Robinhood

Robinhood is very new and has been availing the Exchange of cryptocurrencies since 2018. The platform, however, offers the trade of only seven cryptocurrencies, including Bitcoin and Dogecoin. It may be a beginner platform, but it might be the best for a beginner investor as well.

Reasons For Using:

1. Robinhood allows commission-free trading. While other cryptocurrencies charge upto 4% fees in trading, Robinhood takes 0% charge.
2.  The platform allows users to buy crypto coins worth as little as $1. One can buy 0.000001 BTC on Robinhood. Although For Dogecoin, there is an exception, the users need to buy at least 1 Doge.
3. The platform is also secure and trustworthy.

Gemini

Many consider Gemini to be the best platform for trading Bitcoin and Ethereum. Established in 2014, Gemini has gained the trust of many users who use this platform very soulfully. Earlier, the Exchange only offered the Exchange of Bitcoin and ETH. But there are 40 different cryptocurrencies available for trading on Gemini.

Reasons For Using:

1. Gemini is a legitimate platform. Security is of utmost priority in Gemini.
2. The platform has an extremely active and responsive customer service branch.
3. There are 40 coins available for trading, including Bitcoin Cash and Gemini dollars, a stable coin.

Kraken

Kraken Is a fiduciary and long-running cryptocurrency exchange platform. Founded in 2011, Kraken allows the Exchange of 90 coins.

Reasons For Using:

1. Kraken has the most features the cryptocurrency traders crave for. The pro version of the platform shines with many features, such as margin trading.
2. Kraken does not rely on third-party security providers since it has security measures that work efficiently.
3. Kraken keeps your deposits offline most of the time. It is when you are trading only then the assets come online. These features make it more secure to use Kraken.

Final Words

It is essential to select a cryptocurrency exchange for yourself before diving into the world of cryptos. If you are investing, you must know your priority in a crypto platform. You should choose a platform based on security, user experience, transaction fees, whichever is your prominent concern.

Moonbitcoin cash is a great bitcoin cash faucet you can use if you are interested in bitcoin cash. Apart from that, let us know if you are using any of the mentioned Platforms.

Author bio:

Ani Johnson is a passionate blogger. She loves to share her thoughts, ideas, and experiences with the world through blogging. Ani Johnson is associated with TheCBDMagazine, TheCasinoMagazine, Gossipment, TheParentsmagazine, ThePetsMagazine, TheSportsMag.