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Bitcoin? Ethereum? Ripple? Do these names sound familiar? They should because the cryptocurrency universe is booming, and the entry to this promising world is through rewarding exchanges such as these.
You are perhaps also beginning to see the value in getting in on the world of cryptocurrencies and turn your actual money into Bitcoins or Altcoins.
Your first step is to choose the right cryptocurrency trading platform that will benefit you the most.
So the most important question you need to be asking before making any decisions: what is the best way to go about choosing the right cryptocurrency trading platform for you?
This is a question that haunts the minds of many digital currency users and traders. Why? Because trading platforms can crash and burn—MtGox comes to mind—, which can be the result of security breaches or even fraud.
There is no one quick method to identify and settle on the ideal cryptocurrency trading platform without huge flaws that will also meet all of your wants and needs. However, where deciding on the best cryptocurrency exchange platform is concerned, there are some criteria you can keep in mind to guide you through your decision-making process.
- How secure is the website and platform? Safe trading is preferable.
- Keep in mind the importance of high liquidity ratio.
- Pay attention to transaction charges of the trade such as set fees and interest fees.
- Does the trading platform offer you a history of your transactions in detail?
- Which currencies and what type of Bitcoins/Altcoins are allowed to be traded on the platform?
- Numerous methods of payments accepted to purchase Bitcoin, e.g., credit card, PayPal, etc.
- Is the platform highly rated? Customer satisfaction is important.
- Is the platform user-friendly? Ease of use is crucial in the beginning.
Here are three of the most highly-rated and prominent cryptocurrency trading platforms to choose from:
Established in the mecca of technology, San Francisco, back in 2012, Coinbase is a virtual currency platform that allows for transactions of a multitude of digital currencies between consumers and traders. Deemed as the best trading platform for cryptocurrencies such as Bitcoin and Litecoin, the platform hosts nearly 11 million users, upwards of 35 million wallets, and almost 50,000 merchants.
Based out of Las Vegas, NV, Bittrex provides users and traders with the ability to exchange numerous cryptocurrencies and even some up-and-coming Altcoins. The platform currently supports over 190 digital currencies and boasts low-risk, high-speed transactions.
Established in 2012 in Hong Kong and now purporting to be the most extensive and cutting-edge cryptocurrency trading platform, BitFinex provides quick and stable transactions among numerous cryptocurrencies from Bitcoin, Ethereum, to Ripple and Zcash. BitFinex also puts much emphasis on security, margin financing, and leverage exchanging. BitFinex also has an Android and iOS app.
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