Crypto market is booming and it’s natural for more people to take interest in it. While it may seem easy to invest in crypto, the process can be highly intimidating in the beginning.
What makes the whole case even worse is the frequent news of crypto scams and it is happening all the time on both small and large levels. Someone who’s totally new to the cryptosphere can find such news to be scary.
That said, with time, the market has progressed and there are pioneers who have worked hard to make things super easy and secure and safe for both seasoned and novice investors.
In this article, we’re talking about the best crypto exchanges to use to start investing in 2021:
Binance:
Founded In 2017, Binance is the world’s largest exchanges in terms of trading volume. It focuses more on altcoin trading with more than 100 trading pairs as well as fiat to crypto pairs. One of its main advantages is its fee which is lower than most of its competitors. The taker side and the market side fees combined takes 0.2% of the transaction amount. The fee can further be lowered by 25% if you use Binance’s native BNB token.
Another factor that favors Binance is their advanced charting system which consists of Moving Average, Exponential Moving Average, Moving Average Convergence and Divergence, Bollinger Bands, Relative Strength Index and KDJ.
If you’re confused which crypto to buy, you can read the best performing cryptocurrencies of 2020.
Coinbase:
The most popular exchange in the United States was established in 2012 and is completely regulated and licensed to operate in little over 40 states in the U.S. The exchange has an excellent variety of altcoins to trade and is really simple to use especially by a newbie.
What speaks in the favor of Coinbase is its lack of involvement in controversies at a time when almost every other crypto exchange had to face adversities such as hacking, stealing and even scams. One of the downsides of the Coinbase is its high trading fee which varies between $0.99 to $2.99 given the value of USD at the time of trading.
Bitmex:
One of the highest volume crypto exchanges was founded by a group of economists in 2014. Geared towards advanced traders, a newbie with a bit of knowledge can also use this exchange to trade crypto.
The highly liquid exchange primarily focuses on Bitcoin and its futures trading but trading for altcoins can also be enjoyed on here as well. Bitmex charges -0.0250 maker and 0.0750 taker fee. While for the rest of coins the exchange takes 0.0500% maker fees and -0.0250% taker fees. Trusted highly by investors, Bitmex is counted amongst the most secure trading exchanges.
Bisq:
Unlike banks, that require you to provide government issued identity proof to open an account, opening an account for Bitcoin transactions doesn’t need all that. Since its based on a decentralized borderless technology, anyone of any nationality can get themselves an account, which is the idea behind Bisq.
The best part about Bisq is you don’t have to provide any documentation for KYC hence your identity remains somewhat anonymous. But since its not as popular as some of the exchanges we have mentioned above, transaction speed can be a bit on the slower side. Also, the platform isn’t meant for active trading rather purchasing BTC, which you can do by choosing one of the 26 payment options.
Conclusion:
If you want to just buy crypto and hodl for as long as you want, you can practically do it with any good crypto exchange. However, if you wish to learn trading, you might want to get started with either Binance or Bitmex. You can find cryptocurrency trading signals for these exchanges that’ll help you in trading. That said, make sure you do your research first or you might lose what you invest.