Presently, more people are attracted towards the booming crypto market for its high reward activity. However, it is not so simple, new traders require certain experience and comprehensive knowledge to get started. The first step in starting your crypto trading journey is to select a crypto coin exchange. With too many crypto exchanges popping up in the market, choosing one can be quite confusing for traders. Every exchange is different from the other based on the products and services it offers. They may serve the same purpose, but their functionalities and tradable products are completely different.
To help you decide, here is a list of market’s best crypto exchanges based on their trading volume and number of users the platform has.
5 Best Crypto Exchanges
- PrimeXBT: Best for Copy Trading
- Binance: Easy to Use
- Coinbase: Most Credible Exchange for US-based Users
- Kraken: One of the Leading US-based Crypto Exchanges
This list of market’s top crypto exchanges has some of the most prominent names in the industry. All of their specifications, fee structure, and appealing products are mentioned here.
Prime XBT: Best for Copy Trading
Prime XBT is one of the most advanced one-stop crypto exchanges that supports trading of crypto assets along with major commodities, foreign currencies, and stock indices.
Additionally, the platform allows users to trade with maximum leverage percentage on its derivatives platform. Prime XBT also possess a novel function of Covesting or copy trading. This feature allows users to copy the trades of other users with a successful investment portfolio. Moreover, the Turbo feature of Prime XBT is one of its kind, it enables users to make short-term predictions on prices. If your prediction is correct, you can achieve big rewards. However, the platform is not regulated in every country around the globe. The government of 14 countries restricted the services of Prime XBT including U.S. and Canada which impacts its rating deeply.
The benefits of PrimeXBT doesn’t end here, its referral model consists of a four-tier payout system. In simple words, you will get rewarded not only for your direct referrals but for their referrals as well. This is a multi-level marketing plan that has benefited the exchange and users alike. Prime XBT is one of the best crypto exchanges that can help you multiply your passive income by the referral network you create.
Binance: Easy to Use
Binance is one of the safest crypto exchange in the crypto environment. The exchange has developed a strong reputation and credibility by offering quality trading products and options. The exchange has a competitive fee structure which appeals the users a lot. Moreover, it has a wide selection of crypto assets available. You can trade most famous and high market cap assets on Binance.
Another, plus point to Binance is that it has two different interfaces that cater to the needs of both seasoned and new traders separately. Recently, the exchange has introduced derivatives platform which allows users to margin trade. For margin trading, users require extra skill set to maintain a successful portfolio. In order to assist new users, the platform has a comprehensive knowledge base with plenty of learning material. New traders can learn a great deal about crypto trading before even trading assets real time.
Coinbase: Most Credible Exchange for US-based User
Coinbase is one of the most primitive crypto exchanges in the crypto world. It has evolved drastically since its establishment. Now the exchange is known for its world-class trading products and tools. It has two different trading modes for new and advanced traders Coinbase Standard and Coinbase Pro.
The reason Coinbase has a prominent position in this list of best crypto exchanges is that it has low learning curve. Anyone who is new to crypto trading can easily trade on its standard module. Users can trade more than 100 crypto assets on Coinbase.
Kraken: One of the Leading US-based Crypto Exchanges
Kraken is one of the leading cryptocurrency exchanges where users can sell, buy, and trade crypto assets including Bitcoin and Ethereum. It is one of the earliest Bitcoin exchanges like Coinbase and offers supports to over 50 different assets. The exchange exhibits a competitive fee structure. Moreover, users can access both spot and futures market on this exchange. There is no doubt that kraken is a good choice for both new and existing crypto investors and traders.
Concluding it, all the above-mentioned crypto exchange are unique and reliable for what they offer. As for the question which platform is right for you, you must consider your trading needs and objective. If the exchange aligns with your trading needs, then it is the best fit for you.