It’s critical to choose the right cryptocurrency exchange if you want to make the most out of your investment. However, no one exchange platform can hold the title of best exchange because the requirement changes from investor to investor.
An easy-to-understand interface is most important for beginner investors. Regular traders who trade in six-figure amounts would have a different requirement. Some investors aim for additional assets aside from Cryptocurrency (precious metals, NFTs, and more).
We have considered the requirements of different investors and traders while listing different exchange platforms. Keep reading to find the platform that meets your needs.
Where do you Buy Cryptocurrency? Options to Consider…
Whether you want to invest in Bitcoin, Ethereum, or invest in other digital assets, choose from the seven options below –
1. Coinbase
Why Choose: Start your cryptocurrency investment journey with the largest cryptocurrency exchange platform (by trading volume). The platform offers ease of use to beginner traders and investors. In addition, there’s a highly rated mobile app on all platforms (iOS, PlayStore).
This platform is also subject to regulatory oversight. In fact, Coinbase is registered with the Canadian Securities Administrators. They have their own hot wallets you can set up to store your cryptocurrencies.
It’s an easy-to-sign-up platform with lots of free learning resources, making new investors pros in no time. In fact, you can also learn crypto rewards by watching videos and learning through videos and quizzes.
Why Avoid: some users complain they have paid a high amount in fees on the platform. Moreover, some customers find it difficult to understand how Coinbase manages the fees. Some users also get concerned about Coinbase freezing their funds.
2. Kraken
Why Choose: While Coinbase works as the trading ground for the beginner cryptocurrency investors, Kraken leads the way for the professional traders. Experienced traders and investors benefit from the advanced charting tools, and highly customizable platform that meets most needs traders have.
It helps with real-time market data and insights, flexible filters, and use through mobile and desktop devices.
Pro traders love to use this platform for its support for take profit, market & limit order, stop loss limit, iceberg, and trailing stop orders. Traders can execute trade worth $100,000, and it allows access to a deeply liquidated market.
Why Avoid: fees charged for trading on Kraken can be quite high. Also, there’s no margin or futures trading available in Canada. If you want to start a pro account, it might take days.
3. Uphold
Why Choose: While Uphold gravitates towards cryptocurrency trading, it doesn’t limit itself to crypto alone. It’s a platform to also trade precious gems and metals, fiat currencies etc. In addition, cryptocurrency investors can trade between different digital assets. It’s easy to deposit your funds on Uphold using debit or credit cards.
You can select from a wide range of cryptocurrencies and use them across 184 countries. If you want to start cryptocurrency investment with less popular coins, then this is the platform to go to. Also, digital trade between supported cryptocurrencies takes less than a few minutes.
Where do you buy cryptocurrency and other digital assets? If that’s your question, you can try Uphold. However, there are some reasons to consider before you choose it for trading cryptocurrencies.
Why Avoid: This platform offers limited customer service. Also, several support features, such as Debit card support, are limited to different regions. The fee structure may seem high to some investors.
4. Paybis
Why Choose: Do you prefer managing your own Cryptocurrency? In that case, use Paybis. You can manage your own crypto on this platform using a non-custodial wallet. Easy transfer to external wallets.
You can buy more than 85 popular crypto assets and sell up to 10 different popular cryptocurrencies like Bitcoin. In addition, if you want to there’s a six-deposit method if you like to make transactions in high amount.
Why Avoid: users might want to skip buying their wallet and the learning curve that comes with it. The fee structure is complicated to understand, and there’s a limit of 10 currencies that you can
5. Bitget
Why Choose: A global cryptocurrency exchange that offers a wide variety of digital products, including NFTs, Web3 Support, staking, and copy trading. There is a lot of educational support to learn from. The platform has more than 800 cryptocurrencies to trade. Also, the trading fee is comparatively low.
While wondering Where do you buy Cryptocurrency it supports different payment methods, and the investors enjoy free deposit options and instant buy benefits. Biggest is a great platform for beginner investors who want to access different types of cryptocurrencies with competitive trading fees.
Why Avoid: The platform may not yet be accessible in many countries and may lack legal compliance.
6. Bitbuy
Why Choose: We’ll suggest using Bitbuy if you are a beginner investor and want to buy and hold your crypto assets. The platform is regulated, and they keep 90% of your investments in cold wallets giving you extra security if you want to hold them for years. It is insured with BitGo. The platform has an easy to navigate interface. What’s more the mobile app of the platform is quite popular on both iOS and Google Play Store.
Why Avoid: the platform doesn’t allow margin trading, and it only supports CAD.
7. Netcoins
Why Choose: If you’d prefer a crypto broker instead of using a cryptocurrency exchange platform, try out the Netcoins platform. It’s an intermediary platform that allows users to conduct transactions and also serves as a marketplace for buyers and sellers to conduct different transactions.
Why Avoid: In fact, there’s an option for free e-transfer of fiat currency. You’ll have to pay a simple fee of 0.5% for all the trades you make. Creating your account and getting started with your investment is pretty easy.
Wrapping Up
To sum it up, most cryptocurrency exchange platforms offer something beneficial, but they are lacking in some areas. For beginners, Coinbase offers great learning materials. Netcoins, on the other hand, work as an intermediary or brokerage. Uphold is a better platform for investing in precious gems.
But when choosing an exchange platform for your cryptocurrency trading, ensure that you are choosing something based on the platform’s reputation, security features, fee structure, ease of use, customer support, and supported payment method.
