For those who are new to the world of cryptocurrency trading, here is an analogy that might be able to help you out. Imagine you are geared up for a mountaineering expedition but end up with scuba diving gear trust me picking the wrong crypto exchange is going to make you feel this out of place. Let’s explore further to find the best fit for you crypto exchange.
Your first and foremost concern should be the security. The crypto area is more like a jungle than taking a walk in a park. Kraken(Gemini) offers security akin to Fort Knox (just like on the Goonies set – bar that was made of gold-map). Your assets are safe.
Next has to come ease of use. The least you want is for it to feel like you are building a rocket ship. If you’re new to crypto, Coinbase gives you a very simple and user-friendly experience. If you are more into feature-rich but complex puzzles then Binance is your best bet.
And look out for fees. You see an exchange with low trading charges they might have hefty withdrawal rates. It’s never a nice surprise to find hidden charges so it is better if you can see them up front Generally, Coinbase and Binance are upfront about the fees.
Take volume and liquidity into account because that is a good estimate of how active a market is. If you are searching for good deals on Bitcoin make sure that there are enough buyers and sellers on that exchange. Binance is the most active and liquid market of all our suggestions here.
Customer support is something to take into account before you choose a platform. When things go wrong, you don’t need to read endless Help articles. The best of the 24/7 customer service lot is Kraken. Others might not prioritize support as much.
The range of available cryptocurrencies to buy, sell or trade is something to check out too.
If you are someone who only focuses on top altcoins like Bitcoin or Ethereum then almost any exchange would do. For those who like to build their portfolio with what is trending that week, you will need a provider that offers wide variety.
Crypto trading is a 2-way street. Choose the perfect exchange & hit your milestones on time spend a lot of time on the wrong one, who knows how long it can take? Make the best choice and you will soon be that person in your group who knows the crypto landscape better than most.