As the number of cryptocurrencies continues to grow, with several becoming available on almost a weekly basis, it’s no surprise that many people aren’t able to keep up with all of them and where’s the best place to trade them.
As you evaluate different online trading platforms, there are a number of features which should be present for a platform to be considered secure.
- Community feedback — If a platform is well-reviewed by its users then it’s worth a second look.
- Learning curve — There should be resources that help new users to easily begin trading without too much trouble.
- Secure website and server — Review the security protocols used by the platform, ask questions, and if you’re not certain that the technology will safeguard your information or transactions it’s simply smarter not to use it.
- Transparency — It should be clear how your data is stored and utilized.
- Fees — Some trading platforms have higher fees than others, but in some instances these make sense given the features included. Evaluate both the fees and what they cover before you decide whether to use a platform.
- Payment methods — There should be multiple options for buying currency, ie Paypal, debit or credit card and so on.
Here are some of the most well-reviewed and popular online cryptocurrency trading platforms out there:
Coinbase — Largely considered to be one of the most reputable platforms for trading and investing in cryptocurrency.
Poloniex — Also has a reputation for being trustworthy with a website that includes a range of features which make investing simple even for beginners.
Bitfinex — Popular both for the platform’s overall design and that it allows trading in several currencies, including Ethereum and Litecoin.
Kraken — Europe’s top digital currency platform. Allows users to buy and sell and currencies as well as invest in them. Has several unique features, among them account leverage and margin trading.
Although there are many options for trading cryptocurrency and Coinbase is often recommended before all others, for many reasons, you should always do your own research before you begin buying or investing in any type of cryptocurrency.