Top Cryptocurrency Trading platforms

The top Crypto trading platforms are the most popular in the crypto world with their advantages and disadvantages.

1) Bitfinex

2) Binance

3) HIVE

4) Digibox

5) Kraken

6) CoinDesk

7) Gemini Digital Currency

8) Circle

9) Tether

Let’s check out the top cryptocurrency trading platforms with different aspects of the trade.

1) Bitfinex – A great place to start your trading career. It has simple trading, easy and fast trading technology. The trading volume is huge and it’s growing week by week. You can buy Bitcoin through Bitfinex without any hassle or risk which the user will enjoy.

It gives you a good amount of profit and loss is also there. If you have a small deposit then Bitfinex gives you a better return than other major trading sites. Another advantage is that you can earn more money by investing but if you choose only one coin and sell it you earn nothing at all as the earnings are dependent on one coin.

There are some drawbacks too like high fees which make Bitfinex less attractive for beginners traders. There is no security with Bitfinex, so it might not be ideal for beginners traders. Also, they don’t offer live chart trading where live market conditions occur.

Bitfinex is ranked third among all exchanges based on trading volume. They even launched new features such as ‘Crowd Farming’, ‘New Zealand Derivatives Index Builder’, ‘No Limit Order Book’ etc to attract people from everywhere. They also give bonuses which get deposited in your bank account every month from time to time.

2) Binance – No doubt that Binance offers what its users want. The best part about them was that when compared to others, their reputation is pretty good.

For starters, it is relatively easier to use, and this makes life much easier for beginners traders who don’t have a ton of experience. For example, I had never used anyone else’s platform before. This made my first visit to Binance very simple and I got over 90% of work done there within just 15 minutes. That means, the platform is user-friendly and that isn’t just because it looks like any regular exchange.

There’s a limit of $10 Million per Account so it makes sense to invest there right away. And it doesn’t take long to see results and grow your portfolio. I have around $2 million in various cryptocurrencies and I’ve been a consistent trader since 2011. By now I have almost 30% of my portfolio and I’ve been able to consistently increase my margin to 50%. Not bad!

Binance’s team members are awesome and you feel comfortable with the way that the trading team operates. There’s also a large range of financial instruments which helps traders do well in various asset classes. This makes it a perfect platform for beginners investors to get involved. Overall, it is a decent trading platform where beginners traders can easily open accounts and start making money.

3) HIVE – One of the biggest names in terms of crypto trading is HIVE which was founded in 2014 and has over 1 billion dollars worth of crypto trading contracts. What sets it apart from other brokers is that HIVE takes care of everything including customer support, security, marketing, promotions, etc.

They have a lot of amazing benefits which include automatic trades. Automatic trades mean that you don’t need to manually enter information again and again, and you won’t have to wait around for your orders to come in. But, here comes the downside too. Your accounts can lose a significant amount of money. There’s no risk-reward ratio with an automated order book and if something goes wrong, the trader gets refunded the cash they invested.

Withdrawal fees range from 1–50% depending on the type of deposit you make. Although this might sound reasonable for higher volumes many higher volumes traders would rather pay less than higher fees. With these fees being reduced, users may think twice about getting into the market right away but fortunately, the amount you invest will increase over time.

HIVE also gives its users rewards by referring their customers. These can range from 10% to 100%, depending on how often you refer your friends and it adds up quickly. This is exactly why affiliate marketing is important as it lets people spread the word and earn extra money faster. Again, this doesn’t mean that affiliate marketers can be reckless at times and it is always advised that they read reviews to know exactly how someone feels about them.

4) Digibox – When it comes to crypto mining, Digibox might be a strong contender. This company started its journey back in 2015 with the idea of selling coins at an initial cost of 0.5 USD. In 2019 the company announced plans to create digital assets that allow players to easily mine cryptocurrency. These are called Digibox Uniswap, Digibox Solana (DIGI), and Digibox Zcash. Each has been designed to serve specific purposes, which makes it easier to find the best price.

You can either sign up from here or directly from the website. Then Digiboox takes care of both mining and selling on its own, meaning, you don’t have to worry about running your servers and having your stuff stored. So, if you want to get into crypto mining, Digibox doesn’t have to put anything down for you to set up a miner. All of this is completely managed by Digibox itself.

Also Read: Why You Should Be Using EOS & XRP?

5) Kraken – The reason Kraken got recommended is that they haven’t gone after a crowd of smaller exchanges yet. While the competition keeps giving bigger and bigger exchanges a run for their money, Kraken remains focused on finding a niche area that they truly understand the need for.

Kraken allows you to do so many wonderful things. From buying real estate to staking assets on a decentralized financial system to investing in precious metal for your next project – the sky is the limit for Kraken. It could go anywhere from listing your shares on NASDAQ to launching a public token sale for you.

For those of you who are looking for a low entry point and ready to jump on the bandwagon, Kraken could be the perfect option for you. But let me tell you why Kraken has a few downsides. Firstly, it is still relatively new compared to other majors in the space. Secondly, CEO J. Michael Littler once said he thought the stock market was over but has proved otherwise because it happened all over again. He had a tough job at the beginning but he did everything necessary to turn it around and it showed in his success.

6) CoinDesk – Another startup that has had a massive presence since 2013 is CoinDesk and it currently operates in over 120 countries, with over 16000 merchants and 3 million users. Since 2017 it has added $1 billion to its revenue and it is currently the number 6 site among the top 20 crypto companies in the world. CoinDesk is known as an online marketplace that enables retail sellers to connect with buyers to manage each order placed.

Its main goal is to bring together small businesses that want to sell their products while maintaining compliance with regulators during both processes. They also provide product recommendation tools where you can sort and browse hundreds of thousands of products, from mobile phones to jewelry and everything in between. Users often say the app has given them confidence when making purchases and that is where the growth lies. And, although it does allow you to list items as you sell them online, it doesn’t help much as you have to decide whether the item will sell or not. As of now, the majority of people don’t know whether their favorite pieces are worth their actual value.

7) Gemini Digital Currency – The Gemini Digital currency started its operation back in 2018 but its development has been slow ever since. However, a lot of problems came to light when a recent hack occurred at Gemini’s network. Gemini’s co-founder Anthony DiLorenzo believes hackers took data off the Gemini platform, allowing the hacker access to critical systems, including the wallet code. Now the passwords of users aren’t safe anymore and the problem has already appeared several times.

Also, the password reset process is extremely difficult. Even though Gemini promises its customers a 60 days refund policy, many users complain that they’ve been unable to get a refund on their coins and are unable to access their funds. Other issues the platform hasn’t got the response to.

Gemini claims that 85% of its users have bought products directly from Gemini’s marketplace. Despite this, 84% of Gemini’s clients report having issues with refunds and refunds don’t work. All these factors lead back to the fact that Gemini needs to keep learning how to improve its product quality and customer support.

8) Circle – Circle is another well-known name in the industry and it isn’t difficult to see why people call it the second-biggest exchange. Its mission is to become the global leader in digital currencies.

It is owned by Mark Cuban and he owns 11 percent. His involvement helps the circle expand to 130+ countries with over 1 million registered users. Circle’s main focus is on e-commerce with an emphasis on the US market.

9) Tether – Most people would agree that Tether is a stable coin but with prices dropping faster than expected, Tether doesn’t seem to be doing much to hold onto that reputation. A Reddit community member reported on an exchange hack and revealed some crucial info about Tether back in January.