A new year means a fresh start for aspiring cryptocurrency traders. If you are one of them, perhaps you have the same question running through your mind. What are the factors to consider in selecting a cryptocurrency exchange? If you are wondering the same thing, stay reading because you might find the solution in this article.
When talking about crypto platforms, most experts look at three areas: security, convenience, and trading fee. These are the three areas that we shall highlight here, and it is up to you to decide which is the most significant. You can notice that a platform excels in one or two areas but falls short in another. Sad to say, but this is the reality because no platform is perfect; therefore, pick one or two aspects only to prioritise. Like what they say, we cannot have it all.
#3 BlockFi
BlockFi comes in third place on our list. It is a cryptocurrency exchange and wallet that caters to consumers and companies worldwide. BlockFi provides an interest-earning account, portfolio-backed loans, and commission-free trading. One may fund an account with USD, crypto, or stablecoins, as with many leading cryptocurrency exchanges.
In the areas that we mentioned, Blockfi dominates the trade fee aspect. It does not impose trading fees, but it does mark up crypto-assets with a 1% spread. Aside from that, they provide one free stablecoin withdrawal and one free crypto withdrawal every month. Intelligent traders take advantage of this feature. They avoid withdrawal costs by restricting the number of times they withdraw, so somehow, it becomes free. If you do not take a large amount of money, you will not get charged a withdrawal fee.
#2 Bitcoin Motion
In our ranking, Bitcoin Motion is second. It has a stronghold on the third area we identified, which is convenience. This platform’s sign-up process is as simple as ABC. You must first register to create a new account. After your registration is approved, you will become a member automatically. The entire procedure is straightforward and quick. This award-winning proprietary software is simple to obtain and is free. There are no additional fees, charges, or prices.
Second, you have to invest. You will have to start with the smallest amount feasible, set at 250 USD, just like any other firm that requires business investment. The money you earn from the original investment can be saved or withdrawn at your discretion. Finally, decide what you want to exchange. To begin trading, go to the trade button and click it. In terms of cookie usage, you can modify your account settings.
The developers of the Bitcoin Motion program created the said platform having in mind its usability for all traders. The program is simple to use for both new and experienced traders. They have included several customisable features in this app. It is also simple to adjust the trade parameters. The Bitcoin Motion app is simple to use and understand. The software allows you complete control over your trading activity.
#1 Robinhood
On our list, Robinhood is at the top. In terms of security, everyone may feel assured in their stance. Robinhood aspires to be a platform that upholds security above all else. They take precautions, educate people, and provide outstanding, quick customer service, fixing difficulties as they arise.
Robinhood protects your assets. Robinhood Financial and Robinhood Securities are members of SIPC, which defends the securities customers of its members. You may find out more about it by going to their website. Because they are devoted to preserving top-quality security standards, they take security safeguards to help keep your information safe.
To Sum It Up
The best platform is a matter of opinion. It all comes down to the platform’s compatibility with a certain crypto trader. Concentrate on understanding what is best for you rather than the finest among the rest. It makes no difference if the platform is the greatest in the world if it fails to meet your demands and priorities.
