The Best Bitcoin Exchange Platforms

Over the last few years Cryptocurrencies have established themselves as the go-to virtual money for currency trading in the global market . They have cemented a position in the global capitalist system . It's one thing to be aware of them; it's another to trade them.

Getting into Bitcoin investing and trading may feel like jumping into the diving board of a pool without knowing how to swim. According to reports that circulate daily, people's money has been stolen when they assumed they were investing in a new cryptocurrency. Although there are still a few scams and robbers operating on the dark side of the internet, these events have dramatically decreased as cryptocurrencies have risen to popularity since 2021.

Bitcoin (BTC) and other cryptocurrencies such as Ripple (XRP), Ethereum (ETH), Gemini, Poloniex, OKEx, Litecoin (LTC), and Kraken are all focused on blockchain technology, which prevents them from being hacked or getting their funds stolen. Although most virtual currencies are available just about anywhere globally, some exchanges are prohibited from operating in some states, such as New York.

When you first start trading and investing in cryptocurrencies, your primary concern is the security of your transactions and investments. We've selected a few of the best cryptocurrency exchanges that offer you precisely what you want, no matter how often you wish to transact or even if you're going to a simple currency to use.

The list below will cover various Bitcoin exchanges and their beneficial options to particular traders and any business or investor. We've also compiled some helpful hints for successfully investing in cryptocurrencies, regardless of your overall skill, as well as some recommendations for the best bitcoin wallets. Soon, you'll be able to exchange cryptocurrencies using a simple, user-friendly framework with low fees and simple authentication.

Bisq

Cryptocurrencies such as Bitcoin  were created with the intention of being transparent and allowing free access to the account's unit. Other banking accounts, such as a checking or savings account, are geographically bound, whereas Bitcoin can be accessed from everywhere in the world without requiring authentication.

 

While the decentralised and readily available nature of digital assets like Ethereum may make them vulnerable to illegal activity, it also allows anyone living in a country with a less established financial system to participate. You'll need a decentralised exchange like Bisq to properly have Bitcoin access. Bisq and Bitcoin have teamed up to provide a solution for people who do not live in a place with centralised financial infrastructure or who lack identification.

 

Bisq is a free application that provides a peer-to-peer decentralised Bitcoin and cryptocurrency exchange with no single point of failure. Bisq ensures that no one other than the user has access to or control of the user's funds. Although centralised exchanges such as Coinbase deny users access to their private keys, Bisq gives users complete control over their GDAX, ACH, ETC, XRP, CEX, and BNB accounts. Since Coinbase owns the keys, they have the authority to seize your funds if your transaction activity is deemed suspicious. Bisq does not have access to your funds, so they'll never seize them.

 

Bisq is accessible for anybody with a mobile phone or device, and there is no need to register. Bisq is an excellent option for those seeking full and utter privacy, either from close friends or from government tyranny.

 

You can trade in a variety of fiat currencies, including US dollars, as well as Bitcoin and other forms of cryptocurrencies. Since the decentralisation and peer-to-peer aspects can result in lower trading volumes and slower transactions, the improved privacy and options are a worthwhile trade-off.

 

Advantages:

Cons: 

Network that is not centralised

Various payment options are available.

There is a mobile app for any Android and iOS device.

Pro 

The speed of transactions can be sluggish.

Transaction volumes can be negligible.

For active trading, it's not well-designed.

Cash App 

Cash App is best known for being a peer-to-peer payment processing system that operates similarly to Venmo and Paypal and is commonly used in the United States. The app's primary function is to break food bills, pay rent, and shop online with other retailers. The Cash App can also be used as a bank account, with debit cards and debit cards that can be used almost anywhere, but it also has features that make it a good place to start with cryptocurrency exchanges.

 

Although it's a convenient way to send money to your roommate for the Thai food they ordered, Cash App can also be used to invest in stocks, ETFs, and cryptocurrencies, similar to Robinhood. It's quick to understand for beginners, and it makes it simple to invest in your favourite cryptocurrency.

 

You can withdraw your Bitcoin or other cryptocurrency investments to your wallet or as Bitcoin cash until you've earned a significant profit. This encourages you to spend the money instead of trying to reinvest it in order to get some benefit from it. This ensures that you own the private keys and the coins in the crypto-community, and any benefit is returned to your pocket.

 

Their customer service is excellent, and you can use the service to do margin trading without having to go through a brokerage or wait for a wire transfer.

 

Advantages:

 

Peer-to-peer money transfer is a method of sending money from one individual to another.

Is it possible to withdraw Bitcoin?

Beginners can enjoy the simple user interface.

Negative aspects:

 

Bitcoin is the only option for investment.

Every 24 hours, a cap of $2,000 in Bitcoin can be withdrawn.

Bittrex, Coinmama, Bitfinex, Changelly, Cex.io, and eToro are several other cryptocurrency exchanges that didn't make our list.

 

Coinbase

Coinbase, which was established in 2012, has been a mainstay of the cryptocurrency scene since its inception. It's a fully regulated and approved best cryptocurrency exchange that's legal in over 40 states and territories around the United States.

 

Coinbase has remained out of trouble whenever it comes to shady markets and counterfeit coins, which have infected the market and other exchanges. Coinbase is an easy-to-use exchange that allows you to invest without requiring a comprehensive mathematics degree, regardless of expertise level.

 

 

Though Coinbase is simple to use and gain from, it also has several features geared toward traders and investors. They have insured custodial wallets for holding investments if the company's security fails. With the private keys to the coins held by Coinbase and not the investor, custodial accounts make it simple for new users to dip their toes into the water of crypto investing.

 

After you've mastered Coinbase, you can switch to Coinbase Pro for free! The Pro edition has a lower fee structure and provides more charting and indicator options to help you monitor your investment. Coinbase Pro is a more advanced version of the app with additional functionality that make it a perfect place to invest in your favourite cryptocurrency.

 

Advantages:

 

There are several altcoins to choose from.

High liquidity with a simple user interface

Exceptionally safe and stable (two-factor authentication)

There are no fees for withdrawals.

Negative aspects:

 

When not using the Pro version, there are high trading and transaction costs.

The wallet keys are not under the control of the user.

Coinbase is the perfect cryptocurrency exchange for 2021. When you open a Coinbase account and deposit $100, you will earn a bonus of $5 to $10!

 

Having a trustworthy exchange is crucial if you're a serious trader or just getting started with cryptocurrency. Both centralised and decentralised markets have advantages and drawbacks, and they appeal to different investment types.

Start with a programme like Coinbase if you want to invest in cryptocurrencies at any stage. While this is a centralised exchange, it is an excellent place to begin your crypto journey. You can put your money into it and get answers to any questions you may have.

Exchanges like Bisq if you want to ensure that your identity is secured while still getting access to the widest variety of cryptocurrencies. They will never ask you to register your account, so your identity will be secure. Unlike other exchanges, you can still switch and invest in Cryptocurrencies such as bitcoin when working with US dollars.

 

Selecting the perfect crypto exchange can necessitate some investigation and trial and error. Bitcoin was developed to provide an unhackable currency exchange. You'll make money and keep your investment secure from start to finish if you invest and trade Bitcoin with any of the platforms on our list.

 

When you choose a trustworthy exchange, you can expect to make a lot of money while keeping all of your details and hard-earned cash safe.

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About me

James Otabor is a Freelance Writer and Social Media Expert who helps finance professionals and startups build an audience and get more paying clients online. Mr Otabor is based in Lagos State Nigeria