It’s the start of a new year, and more traders seem to be jumping into crypto than ever before. But if you’re getting started, where is the best place to trade? This guide will break down the top 5 crypto exchange platforms in 2021.
Binance is the world’s largest cryptocurrency exchange. It lists hundreds of assets, charges low fees, and offers decent security at that. In fact, the platform even has its own cryptocurrency to help with trading fees – something most other exchanges lack.
On top of this, you can access Binance via your desktop or mobile phone. It also has a learning platform, its own blockchain, and various other offerings to help start your crypto journey.
CryptoExchange.com is a leading platform with support for the top assets in terms of market cap. This platform offers funding with bank deposits, credit/debit cards, peer-to-peer trading, and even supports some third-party methods.
There’s also a 24/7 support team, and fees are quite low at just 0.1% for every market trade. Similar to Binance, Crypto Exchange also offers a Learning Center for traders new to the space.
Coinbase is the largest exchange in the United States. It was one of the first platforms to start offering trading services and appeals largely to the mainstream crowd. This exchange is incredibly selective when it comes to listing assets as well. It will sometimes take them months to list a new currency, which is good and bad for some traders.
However, this deliberation means new traders never have to worry if a currency is safe. It also means experienced traders can sit back and enjoy profiting off of vetted cryptocurrencies.
While the platform charges higher trading fees than others, it also offers quite a bit. The learn platform pays users out in crypto for participating. It also goes more in-depth than most others do, featuring documentation on staking and other complex topics.
Finally, in the UK, Coinbase even offers a physical Coinbase Card for spending crypto on the go. It’s a great way to push accessibility for all crypto traders.
Similar to Coinbase, Kraken is a popular US-based cryptocurrency exchange. This one has been around for close to as long as Coinbase and claims to offer the highest amount of Bitcoin liquidity in the industry.
Interestingly, Kraken offers free deposits and charges incredibly low fees for trades. That, and it offers a healthy amount of more than 32 cryptocurrencies, pairing with up to six fiat ones. Traditional traders will also enjoy Kraken’s forex offerings as well.
Once you become a more experienced crypto trader, you can jump into Kraken Pro or even its crypto Futures platform.
Finally, Kraken offers email encryption and two-factor authentication, as well, serving all of your security needs while trading.
KuCoin launched in 2017 and has been considered one of the top exchanges since. It offers over 200 cryptocurrencies and allows purchases via debit or credit cards too.
KuCoin was one of the first platforms to offer margin and futures trading for cryptocurrency. It also supports a peer-to-peer platform for users who want to trade directly. Similar to Binance, KuCoin also has its own token, KCS, which provides 90% of trading fees back to users. This ensures you’re not paying ridiculous fees whenever you trade.
That said, trades do charge a 0.10% fee on KuCoin. However, it doesn’t charge you for depositing or withdrawing fiat or cryptocurrency.
It’s also worth noting that KuCoin suffered a hack in 2020, but thanks to the platform’s insurance, no users lost any funds.
The above information does not constitute any form of advice or recommendation by London Loves Business and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision.