How To Choose The Best Cryptocurrency Exchange Platform?

Here is a quick guide how to choose the best cryptocurrency exchange platform and we have pointed out pros, cons and unique features for every independent company.

1. Binance- The Best Cryptocurrency Exchange

Binance is the world’s largest crypto exchange platform, and it is the best choice for buying and selling altcoins. It is a perfect option for beginners and experts alike.
Binance sports a low transaction fee as well as some of the lowest prices in the industry. It only charges clients 0.1% on each trade and, while deposits are free, Binance will charge you on withdrawals.
Binance has launched two cryptocurrencies- Binance Coin (BNB) was launched 2017 and Binance Smart Chain (BSC) was launched 2020. Binance Coin was the cryptocurrency with the third highest market capitalization. However, if you use the Binance-owned digital currency, Binance Coin (BNB), you get a 50% discount.

Binance Pros:

  • Around 500 cryptocurrencies to trade
  • 0.1% flat trading fees
  • High liquidity
  • Buy crypto with bank account, credit card or crypto transfer
  • Extremely quick transactions

Binance Cons:

  • Biggest exchange platform, due to that slow-to-respond customer service
  • US residents must use which has only 80 cryptocurrencies available
  • No built-in digital wallet
  • No recurring buy service/purchase

Binance Unique Features:

User rewards: Binance frequently holds giveaways and challenges to increase user participation on their platform. Users can claim these prizes in the Binance rewards center. Binance also hosts crypto airdrops for currencies that are soon-to-be listed on their platform.

Binance Academy: Binance hosts its own free education platform called Binance Academy. From beginner crypto lessons to advanced tutorials on trading, Binance Academy is a one-stop-shop for all things crypto.

Huge variety of trade options: Binance offers one of the widest arrays of trade types on any exchange.

Advanced charting: Binance allows users to create advanced charting views with hundreds of overlays and indicators via the embedded TradingView charts.

API keys: Binance gives public access to their API keys, allowing third-party apps to integrate with Binance. 

2. Coinbase- The Best Exchange For Beginners

Coinbase is one of the best platforms for Bitcoin exchanges online. This exchange platform is used by lots of beginners who are trying to make their first steps in digital currency. Coinbase was founded in 2012, not long after the release of Bitcoin’s code in 2009 and is a fully regulated and licensed cryptocurrency exchange. Coinbase’s popularity stems from having one of the easiest and fastest buying processes.

Coinbase stands out for its easy-to-use interface that makes one-time or recurring crypto investments a snap. But this convenience comes at a cost.

Coinbase is an exchange that is working hard to reduce security concerns. It is based in the United States and says that it has never been hacked. Coinbase is chosen as the most secure cryptocurrency exchange platform and covering its servers with insurance. 

Coinbase Pros:

  • Very user-friendly platform
  • Well-known and trusted by U.S. regulators
  • Variable ways to purchase cryptocurrency
  • The most secure exchange platform
  • Coinbase Wallet (you can keep all your crypto on your own device)

Coinbase Cons:

  • Higher fees for transactions and payment methods
  • Fewer transaction types than other platforms
  • No recurring buy service/purchase

Coinbase Unique Features:

Free education (+free crypto): Coinbase offers short educational videos that walk users through different cryptocurrency projects. These videos can be viewed on the platform and mobile app and will reward users who watch them with a small amount of free cryptocurrency.

Newsfeed: Coinbase offers a built-in newsfeed to update its users on current crypto news and developments. The feed curate’s articles from the web to deliver important trends and changes in the cryptocurrency market.

Price alerts: Coinbase users can set up alerts about price changes in whichever cryptocurrencies they want to track. Using a watchlist of currencies, users can either view updates on the app or get notifications pushed to their mobile phones.

3. Gemini- The Best Exchange For Bitcoin And Ethereum Traders

Gemini was founded by the famous Winklevoss twins. After their $60 million settlement with Facebook founder Mark Zuckerberg, they invested heavily in Bitcoin and eventually founded their own cryptocurrency exchange, Gemini, in 2015. It is a U.S.-based exchange that follows the tight Know Your Customer (KYC) and anti-money laundering requirements of the U.S. government.

Gemini has a simple interface for new crypto investors, while more experienced traders will appreciate its ActiveTrader platforms. You can find exchanges that charge fewer fees for crypto trades, but Gemini’s safety measures and insurance against online breaches might ease the minds of those new to the cryptocurrency trading world. Gemini is a popular choice for investors who want the most secure platform to buy and store their digital assets.

Unlike some cryptocurrency exchanges, Gemini is available for use in all 50 states in US, as well as more than 50 countries in Asia, Europe, Africa, South America and Oceania.

Gemini Pros:

  • Simple, easy-to-use interface
  • Strong security
  • Recurring buy service/purchase
  • Price alert features

Gemini Cons:

  • Less than 50 cryptocurrencies supported
  • Higher fees than some other exchanges

Gemini Unique Features:

Earning interest on your crypto: Gemini launched their Gemini Earn program which lets you earn interest on nearly every cryptocurrency they offer. APYs are as high as 7.40% (as of March 2021) and vary by currency type. This is unique in the crypto world, as most exchanges require you to stake your crypto (lock it away) to earn interest or rewards.

Dynamic price alert features: Mobile investors will love the Gemini app’s alert features, which allow you to receive a push notification when an asset you are interested in reaches a predetermined price target. You can even set alerts to inform you when an asset increases or decreases in price by a predefined percentage.

Buy with crypto: Gemini launched their Gemini Pay program, which lets you make retail purchases with crypto. There are over 30,000 participating retailers, and you can pay with Bitcoin, Gemini dollar (GUSD), Ether, Litecoin, Zash, or Bitcoin Cash. This feature is available within the Gemini App, where you can select your retailer and crypto to spend and start shopping!

Institutional investor service: Gemini caters to large institutional investors who are getting into the crypto space. They offer services to help fund managers create crypto-based funds, as well as act as a custodian for corporate clients and wealth managers to build a diversified crypto portfolio.

API keys: Gemini offers public access to their API keys, allowing third-party apps to integrate with Gemini.

4. Coinmama- The Easiest Way To Buy And Sell Cryptocurrency

Coinmama is a cryptocurrency broker/exchange that is located in Israel. Originally created in 2013, the website explains that they offer a fast, safe and fun way to buy a digital currency from anywhere in the world.

Coinmama is known for its variety of payment options, including the ability to purchase cryptocurrencies with Visa or Mastercard credit cards. Coinmama is ideal for beginner crypto users seeking to buy their first bitcoin. A more advanced trader can use a different platform to save on transaction fees, but a beginner user will find Coinmama to be very easy to use. If you’re looking for a fast and easy way to buy your first bitcoin, then Coinmama is a great choice. Coinmama also sells a small range of other cryptocurrencies, including BCH, ETH, LTC, and others.

There is a slight difference between an “exchange broker” like Coinmama and an “exchange marketplace” like Binance. A broker exchange holds the cryptocurrency and sells cryptocurrency directly to you for fiat money, while an exchange marketplace matches two independent buyers and sellers!

Coinmama Pros:

  • Variable ways to buy cryptocurrency
  • Really helpful support team
  • User-friendly platform
  • Available in 188 countries, and most US states

Coinmama Cons:

  • High fees for buying with a credit/debit card
  • Limited amount of cryptocurrencies
  • Doesn’t allow crypto-to-crypto transactions

Coinmama Unique Features:

Strong Customer Support: Coinmama is generally praised for its customer support. You can contact the support team through live chat. However, instant customer support is only available during normal Israeli business hours (9:00 to 18:00 GMT+3). You can also contact customer support through email, support tickets, or Facebook.

No Previous Crypto Knowledge Required: Have you never bought bitcoin in your life? That’s okay! Coinmama makes it so easy to buy bitcoin that you don’t need any previous knowledge of bitcoin or crypto.

Regulated and Registered: Coinmama is registered with FINCEN in the United States, giving the platform an extra layer of regulatory security over some of its shadier competitors.

5. Changelly- Your Simple Crypto Exchange Platform

Changelly Crypto is a cryptocurrency exchange platform that allows users to swap, buy and sell more than 170 cryptocurrencies. Also they are widely known for their instant crypto-to-crypto service.

The company was established in 2015 and has gradually expanded its products and features to grow with the increased demands in the blockchain industry. The crypto swap platform has gained the trust of users over several years by providing a stable, transparent, fast and user-friendly interface to swap crypto assets quickly to another and also buy crypto with a debit or credit card.

Changelly has attracted more than a million users and presently has a flawless report on issues like fraud, hacking or, bugs.

Changelly Pros:

  • Fast 5-30 min transactions
  • No history of security breaches
  • Offers widgets and API
  • Cryptocurrency exchange fee of 0,5%
  • 24/7 Live support with real people
  • All you need to start trading is an email

Changelly Cons:

  • Can be slow sometimes
  • High fees when trading with fiat currencies
  • Some crypto tokens are not supported

Changelly Unique Features:

No personal info: One of the main features that Changelly is famous for, is that it requires no personal information from you when you want to exchange your alternative coins. Your email is the only thing required.

Top-notch security and safety: there are no scams, hacks, break-ins, or other issues registered with the exchange, they are quite transparent in their offerings and there haven’t been any big issues regarding general safety.

Kiara Sofia Smith

My current focus is blockchain technology and cryptocurrency. One could even call me a blockchain “enthusiast.” I have worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several blogs.

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