A broker or an exchange plays one of the key roles in a crypto trader’s success. On the other hand, if you have little experience in this sphere, you will hardly manage to make an advantageous choice without outside advice. That is why we want to offer our expert aid.
To start with, we would like to discuss two major types of sources for trading digital coins ― exchanges and brokers. So, the first category of services allows directly exchanging fiat money for digital coins or one cryptocurrency for another one. As a rule, such platforms offer a wider selection of products and currency pairs along with high liquidity. This option is a perfect choice for exchanging small sums. While brokerage sources also allow trading the same types of trades, they also offer an extensive variety of other assets apart from crypto coins. Besides, their functionality is more diversified and advanced. They act as an intermediary by finding a counterparty for deals opened by their clients.
It is time to move to the choice of the best crypto trading platform. Our list includes 8 names, and, for your convenience, we will also mention their key features. We must note that this selection is compiled for US residents in the first place, but a bigger part of these services are available globally as well.
- Coinbase ― a safe choice for newbies.
- Binance ― a universal low-fee platform for any country (there are both a US domestic service and an international version).
- Kraken ― an advanced source with diversified functionality for active and large-volume trading.
- Bitfinex ― an anonymous service that offers a vast variety of products and order types and is oriented towards professional traders in the first place.
- eToro ― a no-commission service for copy (or social) trading.
- Robinhood ― an extremely user-friendly mobile brokerage platform for free crypto trading.
- Bittrex ― a highly-secure source that offers 250 different coins.
- Gemini ― another user-friendly exchange that provides a separate simplified interface for beginners.
Also Read: Gemini vs Coinbase – Which One Is Better? How to Choose
In sum, when choosing services for this rating, we strived to take into account all the major aspects, including a variety of assets, available functions, fees, security issues, convenience, and so on. Thus, we believe that every company mentioned is worth your attention. But, if you are searching for the most universal option, it is Coinbase.