Cryptocurrency is quite literally the currency of the future. Bitcoins and Altcoins are garnering massive amounts of attention from investors on a global scale.
With good reason, too – cryptocurrency provides safety against the government’s ever-erratic inflationary plans.
Most often, the majority of cryptocurrency exchanges enable you to trade, sell, or purchase digital currency. Exchanges can either be from crypto to crypto or from fiat to crypto.
Usually, investors try to find a user-friendly exchange platform, which offers excellent security and has exceptional functionality.
As this article is being written, the value of the cryptocurrency market is rocketing upwards with a market cap of around $220 billion. It is predicted to cross the $280 billion mark by the end of this year.
Here are some of the questions that most of those who are just starting with the concept of cryptocurrency often ask:
- Where can I possibly buy such currency?
- Which cryptocurrency exchanges are rated the highest?
Read on to find out.
- Binance: This platform has a mobile application version, and is also the world’s largest exchange platform. It is ranked as the best (number 1) in the year 2020 as it offers the maximum number of cryptocurrencies. It also offers basic as well as advanced levels of trading.
Some exciting features include Margin trading, Exchange coin (BNB), etc. This is a rapidly growing crypto exchange platform which is registered in Malta – otherwise known as crypto heaven!
Currently, it has more than 150 types of altcoins, and as days pass, this number only increases.
- Bitmex: It is quite popular, has a high volume, and is ideal for margin trading. It has been created by an exceptional team of economists, high-frequency traders, as well as back-end web developers.
Primarily, the currency that gets exchanged on this platform is Bitcoin, along with some of its future contracts, such as Bitcoin Cash, Ethereum, Cardano, Litecoin, and Ripple.
The registration process on this platform is fairly simple – you just need your email ID. Their fee structure is quite simple to understand.
- Coinbase: It is a U.S. based cryptocurrency exchange platform that caters worldwide. This platform is user-friendly for beginners and additionally offers high speeds and reliability.
Using this platform allows you to purchase cryptocurrency as well as trade them, simultaneously. Their app is available for both Apple and Android users, giving access to a large number of users worldwide.
They have high-security standards and have been in operation for several years. This platform is supported almost all over the world, in continents including Africa, Asia Australia, Europe, North America, as well as South America.
- Change Now lets you easily access many different types of cryptocurrencies and also has a record of putting out good-quality products onto its platform. The best part about this platform is that you can avoid long registration processes.
Supporting more than 200 types of cryptocurrencies, this platform is one of the easiest to use.
Using ChangeNow allows you to trade crypto and it helps connect you to some of the busiest exchanges and also gets you the best price.
- Bittrex: A US-based cryptocurrency exchange platform, it provides you an option to trade over 180 types of crypto at one time. This platform is in accordance with US regulations – which gives its users some solace about the safety of their investments.
The users of the platform are the ones that decide the rates they want to charge in, and Bittrex charges them a small fee for using their platform.
To register, you require your email ID – but to withdraw, you need to go through two-factor authentication.
- Poloniex: This US-based platform was launched by T. D’Agosta in January 2014 and has become one of the largest crypto exchanges of the world. It offers over a hundred different types of cryptocurrencies.
This is one of the platforms with the highest trade volumes due to the fact that it supports Ethereum and business to consumer market.
This platform charges around 0.20% fee depending on the trades you make or take.
If you wish to trade in a large variety of crypto, Poloniex is your best bet – do not forget about the two-factor authentication.
- Kraken: This platform is for individuals and businesses that are serious about trading in cryptocurrency. Other than being able to create an account for individuals, businesses can trade in crypto using institutional accounts.
This platform is one that supports many different digital assets and you may even invest in your account using many different types of traditional currencies.
This platform provides world-class financial security, offers healthy banking relationships, and “the highest standards of legal compliance”.
- KuCoin: A great and easy to use platform – KuCoin offers a multifunctional application available for both Apple and Android users, just as Binance does.
KuCoin has a slightly lower number of varieties of cryptocurrency that it offers, but it does have $KCS, DragonChain, etc. Their fee structure also happens to be relatively lower than other popular crypto exchange platforms.
A rapidly growing platform, KuCoin is not expected to make headlines in due time. Additionally, its registration procedure is quite simple and straightforward.
- Huobi: Founded in China, this crypto exchange platform supports more than 250 types of currencies!
It is unique as it is known to operate in two separate versions. The OTC version allows traders to trade crypto with fiat at no cost. The pro version id designed with advanced trading software capabilities.
Coins like LTC, BCH, BTC, XRP, EOS, and DASH are supported on this platform. Apart from offering a straightforward registration process, it also has a 24/7 customer support system.
- Bitstamp: Based in Slovenia and founded in 2011, Bitstamp supports a variety of cryptocurrencies, just like Huobi (BTC, LTC, ETH, BCH, and XRP).
It has one of the lowest transactional fees in the market – a 0.05% fee for international transfers and 0.09% for international withdrawals.
It is an easy to use platform due to its user-friendliness, making it useful for crypto enthusiasts and beginners.
Mary Jones is the co-founder & editor-in-chief at TopMyGrades, which focuses on Content Marketing Strategy for clients from the Education industry in the US, Canada & UK. Mary has conducted a series of webinars for AssignmentEssayHelp on essay writing tips . She has extensive content editing experience and has worked with MSNBC, NewsCred & Scripted. She has also authored blogs on Lifehack.org, Wn.com, Medium.com, Minds.com and many more digital publications.