The first and foremost need for every individual who wishes to buy crypto currency is to buy it from a reputable and trustable crypto currency exchange. But there are people who are new to this form of investment and they don't know which exchange to choose. Some end up buying from exchanges which are either run by scammers or have a hefty and cumbersome process of withdrawing their funds. Some even have hefty exchnage fee which would reduce the margin of profit which people are intending to take. So which exchange one whould choose? In this article we will discuss some reputable and trustable exchanges which you can use to buy and sell crypto. But one thing you should keep in mind that "This is neither a financial advice or endorsement. Always do your research. Our aim is to make it easier for you when choosing a crypto currency exchange. We will give you intro to 4 of the top exchanges.
1) Coinbase
Coinbase is one of the oldest and most trusted crypto currency exchange and is constantly expanding its offering of crypto currencies. There are different platforms on coinbase exchange where you can buy and sell crypto. Mainly Coinbase & Coinbase Pro. Coinbase offers purchase of crypto currencies with different fiat currencies so you are not only tied with one fiat currency. You have choice of USD, GBP, EURO & more. It is reletaively very easy to buy and sell. Coinbase platform provides you direct access to crypto exchange rate with your preferred fiat currency. You can deposit via Credit/Debit cards as well as direct bank deposit which usually takes few seconds but could take longer depending on method of payment used when doing bank deposits.
Withdrawls are also very easy on the platform if you have completed your KYC. You can either withdraw into your bank account or have a choice of withdrawing fiat into your Debit/Credit card or your connected Paypal account. Limitations do apply.
Coinbase also is introducing a new option, called Coinbase One, which offers no-fee trades and other benefits in exchange for a monthly fee. In May of 2022, the cost was about $30, though the program was still in testing phase.
Coinbase also offers earning opportunities if you want to stake certain cryptos. APY's are not high in most cases but if you are looking for passive income with a reputable exchane then coinbase will not disappoint you.
One thing which users chould keep in their mind that coinbase has some what sketchy reputation at times when volatility in crypto markets is very high. There have been reported website crashes when there are alot of traders initiating buy and sel orders when markets are volatile and users have been locked out of their accounts.
Over all Coinbase is trustable and reliable and you can be sure of their legitimicy.(DYOR)
2) Binance
Binance is a cryptocurrency exchange that was founded in 2017 by Chinese-Canadian developer Changpand Zhao aka CZ. Binance is a crypto trading platform that offers some of the most competitive fees in the market. Whether you’re a beginner or a pro trader looking to trade crypto, this is probably the easiest and cheapest way to go. Binance offers a huge amount of crypto currencies on its platform.
Binance accepts users from around the world and has received good reviews from the crypto community. The exchange has also partnered with 3rd party companies such as Simplex, to allow credit card and wire transfer purchases of cryptocurrencies at a premium. If you are a US user, however you will have to use the Binance US site which has some limitations and some not so great reviews if you are a new user. Once you have dont some fair bit of trading then your user experience will be more pleasant.
Binance offers variuos trading options using traditional fiat currencies as well crypto trades. It offers P2P trading which will connect buyers and sellers directly which is quite a nice feature. It offers Credit/Debit card purchases which could set you back around 4% to 5% in processing charges.
Binance also offers various trading options including spot trading and futures trading. Platform is very easy to learn and you can set limit orders with peace of mind and don't need to be watching your portfolio constantly for your desired profit.
Over all Binance is a great platform to trade crypto. But like coinbase, it also has a sketchy reputation when it comes to high volaitily in the markets. There have been reports of Binance suspending trading at certain times and users not been able to trade.
3) KuCoin
MetaMask supports vast variety of crypto currencies and NFTs on its platform making it highly accesible and user friendly. Mainly an ethereum wallet, it also has its own built in exchange to quicky buy and sell crypto sasetsKucoin KuCoin is one of the largest crypto currency exchange in the world. Established in 2017, KuCoin is headquartered in Seychelles and has become one of the largest exchange by trading volume. It has more than 10 million users from over 200 countries. It provides users ability to sell, trade and buy crypto on its platform. It also offers Margin, Futures and P2P trading.
Being one of the largest crypto exchanges, KuCoin offers large number of crypto currencies. KuCoin offers a tiered Maker/Taker fee model, with trading fees ranging from 0.0125%-0.1%, depending on your tier level. Its fees are relatively low compared to competitors, which may charge up to 0.50% per trade. Users can also get trading fee discounts based on their KuCoin Token (KCS) balance which is KuCoin’s native token.
KuCoin charges customers for withdrawl fee which depends on market performance. One thing users should be aware of that KuCoin offers limited amount of deposit options. Overall KuCoin is a trustable crypto exchange with great reputation. KuCoin offers high withdrawl limits once you have passed KYC. (DYOR)
4) Crypto.com
Crypto.com Established in 2016 Crypto.com is one of the oldest and reliable crypto currency exchange with over 10 million users. It offers wide range of crypto currencies on its platform.
One thing which is highly regarded in cyrpto world is its industry leading app. With easy to use features even a novice crypto trader can easily buy and sell crypto using the app.
Crypto.com offers visa/master card both debit & credit and bank deposits as well usual crypto deposits.
Crypto.com also has its own native token called Cronos or CRO (formerly crypto.com coin). We will discuss CRO in another topic in future.
Crypto.com also has an exchange feature where you can trade vast amount of crypto currencies with your favourite trading pairs. Crypto.com fee vary. If you are trading on crypto.com then you will pay higher fee as premium whereas trading on crypto.com exchange is cheaper as compared to the app.
Another feature of crypto.com is their pre paid visa card which accepted at millions of places where VISA is accepted. There is no fee to recharge your crypto.com debit card. And all transactions are free and unlike traditional prepaid debit cards which charge upto 5% of transacstion fee as well as topup premium. You can also sell your crypto in your native fiat currency and recharge your crypto.com debit card for instant purchases.
Withdrawls into bank accounts or other wallet addresses can take minimum of 24 hours to 4 working days. Instant withdrawls are available if you use same bank account or card which you used to buy crypto on the platform. Crypto withdrawls to external are instant if you have made withdrawls to that particular wallet address in the past. This is to ensure security.
Overall Crypto.com is an excellent crypto currency exchange and widely trusted by users around the world. One thing users should keep in their mind that even though crypto.com boasts to pay higher for crypto currency exchanges, infact it does not pay the exchange rate available on the market and there is some slight difference in the price when you sell.(DYOR)
About Cryptical News Articles
All the information provided in this article and entire website is for educational and entertainment purpose only. Nothing is financial advice so be careful while investing in crypto currency markets as these are highly volatile. Never invest more than what you can afford to loose. We take no responsibility for any financial losses which you may occur.