For cryptocurrency users, one of the important things that they need to consider if they want to explore the digital coin market is the crypto exchange. Some companies grant online services to the traders where they can buy and sell their virtual currencies.
The best cryptocurrency exchanges are accessible to everyone. They are also considered to have a good security measure against outside threats. Investors should also choose to use a digital exchange that offers low fees.
According to a report by Forbes earlier this month, a finance expert from the University of Oregon said that there are three significant features to jot down when picking an ideal crypto exchange.
Stephen McKeon, the associate professor from the said university, wrote fees, security, and the inclusion of your preferred assets.This 2021, let's explore the best crypto exchanges that will help you in your crypto journey.
Most Recommended Crypto Exchanges in 2021
Binance
If there is a candidate for the most popular digital coin exchange, it would be Binance. This coin site features a dedicated virtual wallet. You can also trade hundreds of currencies on this platform.
The transaction fees in Binance range from 0.015% to 0.1, according to Investopedia. The fiat-cryptocurrency pairs are also available here.
Last month, the daily trading volume in the exchange site was smooth for the company. For altcoin traders, this site is a must-try for cryptocurrency investors.
With over 50 various digital currencies that you can trade, it's no wonder why many traders choose this exchange.
Pros
- Low fees
- Many cryptos and trading pairs to choose from
- Impressive charting
Cons
- Unsupported by other states
- Experienced users mostly benefit from using it
- Fewer trading pairs in Binance US
Coinbase
Forbes wrote that Coinbase is the best cryptocurrency exchange for beginners. Besides its easy-to-use interface, users could enjoy the guaranteed security feature plus transparent pricing.
This digital exchange also has insurance in case a hacking scheme happens. This means that your money will be placed in the insured Federal Deposit Insurance Corporation (FDIC) bank accounts.
If you are looking for a lower fee, Coinbase is a good choice for your transaction.
Pros
- Tons of choices for altcoin
- easy to use UI
- high liquidity
Cons
- Needs Coinbase Pro to avoid high fees
- No control over wallet keys
Cash App
Transaction fees in this cash exchange vary depending on the transaction. Cash App offers a lot of flexibility when it comes to withdrawing digital coins.
You can compare Cash App to Venmo, which allows several services that offer peer-to-peer money transfers. Besides Bitcoins, you can also invest in stocks on this platform.
Pros
- You can withdraw Bitcoin here
- Convenient UI
- peer-to-peer money transfer
Cons
- Limited to Bitcoin only
- Sending money will charge your credit card
- Withdrawal limits
Bisq
This peer-to-peer decentralized crypto exchange varies from the regular exchange like Coinbase. Besides bitcoin and USD, this platform allows fiat exchanges as well.
Either if you are using a phone or PC, you can access Bisq.
Pros
- non-KYC exchange
- decentralized platform
- available in both iOS and Android
- Over 25 options for payment
Cons
- Slow transaction
- Low trading volume
- Not for active traders
Kraken
If you are already a long-time crypto trader several years ago, you might have encountered Kraken already. It was established in 2011 with limited features back then.
Users enjoy its low fee rate and a wide range of coin selections to choose from
Pros
- Ideal for advanced traders
- Very secured
Cons
- Complex for newbies
For more crypto news, you can check our latest report about the best digital currencies to purchase for the month of October. You can also read more about Jack Dorsey's recent tweet, which could point out Bitcoin's value.
Related Article : Walmart Quietly Kicks Off Pilot Program Allowing Users to Buy Cryptocurrency At Coinstar Kiosks
This article is owned by Tech Times
Written by Joseph Henry
