Cryptocurrencies are one of the most surprising technologies to emerge in recent years. Bitcoin, the most famous cryptocurrency, has soared in value, causing many people to see it as a viable alternative to traditional forms of currency. In fact, the various trading platform makes it easy for anyone to connect to hundreds of cryptocurrencies instantly and offers some of the best crypto-to-crypto trading rates in the world.
However, they are not regulated by any government, meaning the exchange rate between one cryptocurrency and another can change at any time, which also means the cryptocurrency you bought today can be worth more or less in the future, depending on the market. For that reason, it requires the person trading digital currencies to provide identification, such as a passport and driver’s license, as well as passwords and other security information. However, Bitcoin transactions are not anonymous. The identity of the individual making the transfer is determined based on where the transaction was processed.
Top Crypto Exchange Platforms
There are multiple trading platforms that offer tokens which you can buy in different currencies. And these currencies, whether a country’s official tender or simply a crypto token, can price the cryptocurrency at different rates. So, it would be a financially wise decision to use something like a bitcoin calculator to find the different prices at which you can buy the coins that you want.
Given below are a few of the top crypto trading platforms:
Coinbase
Coinbase is arguably the most popular cryptocurrency platform right now. The company handles over $10 billion in transactions annually. And, unlike other exchanges, Coinbase doesn’t hold on to your bitcoins. The company uses computer algorithms to move your coins into your wallet within a short period of time. But, Coinbase isn’t for everyone, especially not for those who do not want to pay for international transactions, nor the transaction fees that go along with using Coinbase.
Binance
Binance is one of the larger cryptocurrency exchanges in the world, and it’s not hard to understand why. The exchange offers a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and IOTA, and it supports more than 30 trading pairs. Besides, it also offers 24/7 customer support, and is among the top exchanges in terms of trading volume.
Kraken
Kraken Exchange, based out of San Francisco, is one of the world’s most famous cryptocurrency exchanges. In fact, when you Google the phrase “best cryptocurrency exchange,” Kraken comes out on top every time, making it the ideal place for cryptocurrency traders to deposit and withdraw their hard-earned cash. Kraken’s exchange offers a variety of bitcoin options, including margin trading and margin funding. It also offers bitcoin ATMs, which enable people to buy bitcoins with cash, as well as bitcoin debit cards, which can be linked to a bitcoin wallet, enabling users to spend bitcoin anywhere Visa is accepted.
Gemini’s Coin Exchange
Gemini is a cryptocurrency exchange that has been around since 2014. Created by the Winklevoss twins, it uses blockchain technology and altcoin trading to make trading easier. The exchange supports a number of digital currencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Zcash, and XRP, making it perfect for trading crypto enthusiasts with different preferences. Interestingly, it is designed for both, individual investors and merchants, and you can buy exchange-traded funds (ETFs). Besides, it offers two types of bitcoin wallets: a personal one for storing and spending money and a cold storage one for storing a large amount of bitcoin offline.
eToro
eToro is a leading global financial trading platform, offering CFD trading (contracts for difference) on 100s of assets, including cryptocurrencies like Bitcoin and Ethereum. Their innovative approach to trading combines social trading with web 2.0 technologies, and their platform is available in 18 different languages.
eToro has greatly expanded the scope of its cryptocurrency offerings, with more than 100 alternative coins to choose from. However, traders typically gravitate towards the most popular cryptos, such as Bitcoin, Ethereum, Litecoin, and Ripple.
In conclusion, cryptocurrency exchanges are websites where you can buy cryptocurrency. No centralized authority decides when new cryptocurrencies are approved and released. Instead, a cryptocurrency exchange launches the cryptocurrency when there is a demand.