Cryptocurrency trading can appear to be risky and intimidating, especially if you are a novice in this world. You have probably heard and read stories about bad investments and people losing money, so you may be having second thoughts on whether you should start this journey.
Well, the trick is to find the right platform for you. Nowadays, there are numerous exchange platforms available to the residents of the US. Before you choose one, you have to gather all the essential information that will enable you to make the best decision possible. So, in the following article, we will introduce you to some of these.
1. Coinbase
First things first, let us tell you about the largest exchange platform in the United States at the moment. Coinbase was launched in 2012, and today it has over 40 million users. The company takes pride in the fact that, besides being the largest, it is also the safest platform since they have never had issues with hacking or any other kind of virtual attack. It means that their customers never faced a loss due to criminal activity.
The interface of their software is user-friendly, meaning that you can easily enter the world of a cryptocurrency exchange as soon as your account is verified. You can choose between- multiple payment methods depending on the amount of money you want to invest (debit cards, wire, and bank transfer). Naturally, you can use this exchange to buy, sell, and store Bitcoin, but other currencies such as Bitcoin Cash, Litecoin, and Ethereum XRP are also available.
2. eToro
One of the main advantages of eToro is the fact that the platform offers real-time cryptocurrency-related news and marketing research. This is simply a matter of convenience since you will be able to find all the data here without having to do any research on your own. It will greatly improve your experience, and it will make you more comfortable to proceed with trading.
Besides the fact that their software is easy to use and that there is also a smartphone app, this platform offers multiple additional features. You can locate and follow the most successful users, or on the other hand, connect with peers and work together on coming up with strategies or share ideas.
3. Kraken
If you are looking for a platform that can provide you with numerous cryptocurrency assets as well as trading tools, you should think about going with Kraken. Since this is international exchange, deposits can be made in different currencies, but the most important thing is that Kraken is licensed in the US with FinCen.
Their unique software doesn’t only enable you to buy, sell, and trade, but you can also monitor the market, manage your portfolio, and make necessary changes as you go. In addition, the DeFi tokens are also available, which can be quite significant for some users.
4. Coinmama
Since it was first launched in 2013, Coinmama has served over 2.6 million customers from all around the world. This international company is based in Israel, and it accepts payments in EUR, AUD, GBP, CAD, and of course, USD. When it comes to making a payment, you can choose between- Apple Pay, credit cards, and bank transfer. However, if you were to go with a debit or credit card, you would have to pay a significant fee, so this can a major downside.
Still, you will be able to buy or sell cryptocurrencies quickly and easily via this platform. If you encounter any issue or simply have a question on how everything works, the company’s customer support service will contact you as soon as possible.
5. Changelly
Changelly is another platform suitable for beginners due to its simple and user-friendly interface. The main benefit of this exchange is that all transactions are completed immediately. It enables you to easily start an account and also to swap assets quickly. Changelly uses a top-notch algorithm that enables the company to offer the best rates to its clients, so it is considered to be the best website for swapping cryptocurrencies. There is another thing that users love. They can transfer the assets easily to their offline wallet for maximum security.
6. Gemini
Gemini is, without a doubt, the safest exchange available to clients located in the US, which is why it is a popular choice. When it comes to the software itself, you can choose between- two versions. As you assume, one of them is intended for newbies with a simple interface, while the other one is designed for experienced individuals.
Some of the best features they offer are a secure wallet, custody service, payment methods, etc. However, the thing that attracts so many users, besides the safety of the platform, is the fact that they can buy and sell 20 most popular cryptocurrencies right now. When it comes to security features, just by looking at the list of these, you can rest assured that your personal info, as well as the funds, are safely stored and protected by encryption, two factor authentication, a withdrawal process that requires multiple signatures, and so on.
7. Binance
Due to its highest daily trading volume, Binance is, without a doubt, the most popular exchange right now. Why is this? Well, first of all, the company’s fees are very low (between- 0% and 0.1%), which makes it the cheapest option out there. You can trade in almost 200 digital currencies on this platform and also choose between- multiple fiat currencies. When it comes to these, the company also offers numerous payment methods and options, such as credit or debit cards and a bank transfer.
Their platform is also suitable for everyone regardless of their trading skill because you can choose between- two a basic and advanced interface. Upon creating an account, you will gain access to a wallet where' all your funds will be stored safely. What’s more, if you choose to, you can open a savings account that will enable you to earn crypto interest. Finally, you can also get your own Binance VISA card.