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The 6 Best Crypto Exchanges For New Traders

Whats the best crypto exchange for new traders?

Cryptocurrency has been all the rage for the past decades, with more and more countries legalizing its usage. As the popularity of crypto grows, investors are getting more interested in putting their money on the promise of greater profits in the form of digital currency.

Needless to say, though, all new things and concepts come with a touch of skepticism. Crypto trading platforms pose a similar case, especially as recent hacking attempts have proven how easy some of these systems are to get into—unless you’re using an add-on security tool like a USA VPN to encrypt your data and spoof your location to ward off hackers.

Bitcoins cost a pretty penny, and people worldwide are now questioning if they should invest in the new digital currencies given how unsecure some of the platforms can be. After all, no one wants their cryptocurrency to get stolen by hackers or snoopers. Whether you’re already a high-profile crypto investor or are thinking of getting started with crypto, you’re probably on the hunt for more information.

It’s also often a good idea to use multiple crypto exchanges. This allows you to manage different strategies and even invest in different coins, as not all exchanges have the same choices.

In this article, we’re listing down the top 5 best crypto exchanges right this minute. Let’s take a nosedive.

Top 5 best crypto exchanges in 2021

Here’s our list of the top 5 best crypto exchanges in 2021.

  1. Binance – The best of the best

Binance was first launched in China back in 2017 and quickly became one of the most popular global crypto trading platforms. The platform gained traction, and in 2019, just a couple of short years later, it launched in the United States by the name of Binance US—which was supposed to cater to an exclusively American audience.

The platform allows you to trade cryptocurrency and charges only 0.1% on your trades, making it one of the most cost-efficient platforms too. Additionally, you also have the option to earn extra money on your coins in the form of staking, with rates as high as 10%

One of the most significant advantages of Binance US is that it lets you trade over fifty different cryptocurrencies with one of the lowest fee-rate. The platform has also built a solid reputation for itself by providing excellent service to users.

That’s not all, though. Binance is also popular for being one of the most secure platforms for crypto trading and comes with an easy-to-navigate website interface. On the flip side, however, the platform is not available in 7 different US states and can be a little tricky to handle for people just getting started with crypto.

  1. Coinbase – A great option if you’re just starting out

Coinbase was launched in 2012 in the United States and has built an international fanbase of more than 30 million users over the past decade in 103 countries of the world. With a super easy-to-follow interface, this one is more aimed at catering to new investors and people just starting out with their crypto journeys.

The application mainly keeps a neat and clean interface, with none of those super detailed data or graphs all over the screen, which keeps the application nice and minimal and makes it easier for new users to understand.

One of the many advantages of Coinbase is that you can see all your coins in one place with its intuitive and simple-to-use user interface. Apart from that, the platform is fully insured, and you can buy. Sell and trade Bitcoin easily and safely. Furthermore, Coinbase also offers its users a wide variety of altcoins.

But like everything else in the world, Coinbase isn’t perfect. The platform is a tad expensive compared to its counterparts, with fewer payment options and a custodial wallet.

  1. Kraken – Another great option if you want an alternative to Binance

Kraken is a US-based crypto exchange platform that launched in 2011 and then relaunched two years later in 2012. Kraken offers its users over 50 cryptocurrencies to deal in so if variety is important to you, Kraken might be what you need!

A little more advanced than Coinbase, the ultimate platform for beginners, Kraken takes things a step further by offering three different account options: starter, intermediate and pro, which makes it a great pick for anyone at any level of crypto experience.

This platform sports an average fee that fluctuates between 0.9 – 1.5%, making it another one of the cheaper options, strengthening the argument for being used as a starting platform.

Apart from that, the platform offers excellent security features and a very stylistically aesthetic interface. To sign up for a Kraken account, you will be required to provide your ID verification and account information to ensure that you can benefit from maximum security.

  1. Robinhood – Great pick if you’re on a budget

Robinhood is another US-based platform launched back in 2012 and started as a broker company catering to stock traders. A few years later, the team behind the platform expanded to offering crypto services which attracted young investors getting started with crypto, which caused the company to grow in the new field.

Robinhood comes with pretty decent security features for a low-cost platform, like a device management system and two-factor authentication. The application also has a simple interface that doesn’t take a lot of time to figure out and get around.

Additionally, Robinhood doesn’t pose commission fees and offers users instant cash deposits. On the other hand, the platform doesn’t allow anonymous accounts, and funds can’t be withdrawn once they have been deposited.

  1. Bisq – Best secure Crypto exchange platform

Are you looking for a secure crypto exchange platform? Try Bisq! Launched in 2014, this one is a decentralized platform with its network of servers spread all across the globe, making it one of the most secure crypto exchange platforms.

A step aside from other platforms, this one does not require a user to enter their personal information for the platform does not need to verify you to let you trade crypto. Furthermore, with low and a wide variety of payment options available, what more could one ask for?

Among obvious cons, though, is the risk for fraud since the platform doesn’t verify its users. If you’re careful, though, this shouldn’t be a problem.

  1. BitFlyer – Secure Europe based exchange

Many of the platforms listed on here are US based, which can be a problem if the SEC stick their nose in. Which is why its often a good idea to use a crypto exchange based in Europe. In general the European nations are a bit more accepting of crypto and less likely to pursue legal action. And one of the best exchanges we’ve found is BitFlyer.

We like BitFlyer because it’s fast (prices updated in real time, not like some other *big* exchanges on the list), its easy to use and it has a good selection of cryptocurrencies.

They’re also licensed to operated in the US, Europe and Japan, so you’re unlikely to hear any FUD about BitFlyer being investigated.

Sign up for your account with BitFlyer here.

Stay safe when trading

When you’re setting up your crypo exchange there are some tips to stay safe and protect your investment.

  • Always use a hard to crack password with lots of characters and numbers. Keep it safe and never share it, especially online.
  • Use 2FA to secure your logins. It can be time consuming but it’s worth it
  • If you’re not trading, secure your crypto in a cold storage device for maximum security

Goof luck and happy trading!

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