Most people want to invest in digital currencies, but do not know exactly how to start in this field?
Do you need to already have cryptocurrency to invest?
Or do you need to transfer money from your bank account to somewhere and then convert it into digital currency?
We will answer these questions and others, and we will also list 8 of the best digital currency trading platforms that allow you to buy Bitcoin and other distinctive currencies.
Coinbase platform
The Coinbase platform is considered one of the best digital currency trading platforms, because you can invest in it directly with US dollars. You can currently buy Bitcoin, Ethereum, Litecoin, and over 30 other cryptocurrencies on the platform. Moreover, you can earn interest on your Tether (USDT) and earn token rewards by completing various activities.
Positives
User-friendly interface.
Provides good digital and encrypted currencies to invest in.
High level of security and trust.
Negatives
High fees, unless you use Coinbase Pro.
You cannot control the private keys in the wallet.
Slow integration of new good cryptocurrencies.
Binance platform
Binance offers some good currencies like ‘Cardano’ or ‘Neo’ to trade in. It is not easy to use, but it is considered one of the most powerful trading platforms available in the digital currency market. They have an excellent mobile app, but - again - it's not easy to use.
Additionally, you can get a $10 bonus, when you trade $100 within the first 30 days of opening your account on Binance.US.
Note:
Binance.us is the US version of the platform and has limited cryptocurrencies and digital currencies to invest in, unlike the international version of Binance.
Positives
A huge amount of distinct digital and encrypted currencies.
Fast transactions.
Low fees.
Negatives
Limited options in the United States of America compared to other countries.
Limited customer support.
Crypto.com platform
Crypto.com is one of the largest and fastest growing cryptocurrency trading platforms. It is headquartered in Hong Kong.
Currently, you can access more than 90 digital and cryptocurrencies worldwide. Additionally, they offer aggressive rates on their crypto savings accounts.
The only major drawback of this platform is that it is only app based at the moment, and it does not have a desktop platform.
Positives
Huge amount of crypto and digital currencies.
Pay weekly interest on your cryptocurrency savings.
The possibility of obtaining a debit card linked to your account.
Negatives
Complex fee structure.
It does not have a desktop program, it depends only on the application.
Customer support is limited.
eToro platform
eToro was only available in the United Kingdom and Europe, but it now provides its services to traders in most countries of the world. They offer a large variety of digital assets to buy and sell on their platform. In addition to providing a demo trading account, you can try it out before actually using real money.
Currently, eToro can also offer about $10 bonus if you will deposit and trade $100 in crypto assets. But note: That offer can be only available to US users.
Positives
Global options for trading cryptocurrencies.
Ability to copy other traders' portfolios.
The possibility of starting with a very small amount.
Negatives
It does not support many cryptocurrencies and digital currencies.
Bitstamp platform
The Bitstamp platform is considered one of the oldest and best digital currency trading platforms. It was founded in 2011 and has been operating for more than 10 years. Offers more than 70 cryptocurrencies to trade.
Bitstamp has a fee structure that shows prices, allows you to buy cryptocurrencies instantly using your credit or debit card, and has a robust mobile app.
Positives
One of the oldest cryptocurrency exchanges.
Providing more than 70 cryptocurrencies.
Low trading fees.
Negatives
‘Staking’ features are not available to all users
Gemini platform
Gemini is a popular platform for investing in cryptocurrencies because it was one of the first major exchanges, and today it is one of the largest platforms in terms of assets.
Gemini supports most major cryptocurrencies, has good support and partners, and pays competitive interest rates on assets, if you qualify.
Additionally, when you open a Gemini account, you can earn $10 in BTC after trading $100.
Positives
The platform's interface is easy to use, even for beginners.
One of the largest stock exchanges in terms of assets.
Strong support for major assets.
Negatives
Limited payment/deposit methods.
Customer service is sometimes mixed.
Kraken platform
Kraken is one of the original cryptocurrency trading platforms and has a good selection of digital and cryptocurrencies to trade and invest in. It also allows margin trading. (Kraken) is a real exchange, not easy to use.
Kraken is one of the few platforms that allows trading in Dogecoin (DOGE) and other distinctive and riskier cryptocurrencies.
Positives
It is one of the most prestigious cryptocurrency exchanges.
High level of security and trust.
A large variety of crypto and digital currencies to trade.
Negatives
It is one of the most difficult platforms you will use.
Difficulty with two-factor authentication 2FA.
Some reports of poor customer service.
Uphold platform
The Uphold platform offers a simple solution for trading multiple assets; You can open one account to trade in multiple assets without returning to the original currencies. If you've ever traded cryptocurrencies, you'll know that a lot of digital currencies and cryptocurrencies are only traded in certain pairs, which means you always need to go back to Bitcoin or Ethereum. But on Uphold, you will directly trade multiple assets.
In addition, Uphold is one of the few exchanges that allows you to trade Ripple (XRP), Dogecoin (DOGE), and others.
Positives
Simple and easy to use platform.
It offers a lot of cryptocurrencies and even some stocks, including popular ones like XRP.
Desktop and mobile applications.
Negatives
difficulty of use; Compared to other platforms.
There are reports of poor customer service.
Conclusion
We conclude from the above, dear readers, that investing in digital currencies is not much different from investing in stocks. In digital currencies, you need to open an account with the stock exchange. With stocks, you open an account with a brokerage firm. Then you deposit the money.
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