Bitcoin has started the year with a bang, and the value is up by over 17% to date, raising the curiosity of analysts and investors. Nevertheless, cryptocurrency is much more than just Bitcoin and is one of the hottest trends, even in 2020.
For those looking to invest in cryptocurrencies, the internet is full of cryptocurrency trading platforms. These platforms allow users to buy, sell, and trade cryptocurrencies with digital or traditional currencies. However, with increasing options comes the challenge to select the right platform that is ideally suited for your trading requirements.
Here are the top ten cryptocurrency trading platforms in 2020 that will help you make the right choice to start trading right away:
Kraken
One of the oldest Bitcoin exchanges that have been operational since 2011, Kraken is a US-based cryptocurrency trading platform that offers excellent service, versatile funding options, and crypto trading features. For beginners, Kraken has excellent features that can guide users to familiarise themselves with cryptocurrencies.
Use Kraken for its simplicity and safety features that are on par with the best cryptocurrency trading platforms globally. It is now spreading globally with acquisitions in Russia, Australia, and Japan while raising $100 M in 2019.
Bitfinex
Headquartered in Hong Kong, Bitfinex is a popular cryptocurrency trading platform that is a one-stop-shop for all crypto trading requirements. It offers a great customizable interface and is best suited for users with trading experience, as the interface can be daunting for beginners.
Bitfinex is excellent, as it supports altcoins and cryptos like Bitcoin, Ethereum, Dash, Litecoin, Ripple, and others.
CEX.IO
Officially registered in the UK, CEX.IO is a platform that supports various crypto coins like Dash, Zcash, and Bitcoin. It is reliable and offers fund deposits with credit cards (Visa/Mastercard) and other options.
CEX.IO is an excellent platform that provides multiple payment options and robust security and compliance (registered with FinCEN and other regulatory organizations). It also provides advanced reports that are great for keeping track of your investments.
Coinbase
Founded in 2012 in San Francisco, California, Coinbase is a renowned cryptocurrency trading platform with a presence in over 32 countries. Coinbase is known for its security, portfolio management, presence of significant Bitcoin and other cryptocurrencies, while also offering an API for developers to connect with third-party apps and trading platforms.
Coinbase is recommended for its simplicity, support for popular payment methods, comparatively low fees, and digital wallet access.
Bitbuy
A Canadian cryptocurrency trading platform, Bitbuy has a reputation for being a highly responsive and excellent customer service. The platform provides 2-factor authentication and provides several payment options that make activation and usage reasonably simple.
Bitbuy, however, is available only in Canada and has limited currency support like Bitcoin, Bitcoin Cash, Ether, Litecoin, and Ripple. Bitbuy rates are reasonable compared to other competitors and offer excellent customer support in Canada.
Bittrex
Another US-based platform, Bittrex allows users to trade in major currencies like Litecoin, darkcoin, nextcoin, Ethereum, Neucoin and more. Known for handling the most massive Bitcoin volumes, Bittrex has excellent security features such as secure KYC and privacy protection.
Bittrex is ideal for those in the United States, for it is well-regulated and compliant with many regulatory norms in the country. With strict anti-money laundering processes, it has the goal to increase the adoption and transparency of cryptocurrency globally.
Changelly
An excellent platform for those looking to trade in digital currencies without requiring the hefty KYC details, Changelly can work using just an email. Users will not need to submit any personal information, and the advanced features are great for investors and traders.
Changelly is available all over the world and supports multiple cryptocurrencies. It also has a responsive website, a mobile app, and widgets that offer great security features and access on multiple platforms.
Changenow
Changenow offers a hassle-free trading option as it will not require users to open an account to start trading. Changenow assures high safety and does not store transaction data, with each transaction getting completed in simple steps using Visa or Mastercard.
Changenow is user-friendly, offers exchange rates automatically, and supports digital currencies of up to 160 types while fiat-to-crypto trade exchange is also available.
ShapeShift
ShapeShift is a global crypto trading platform that was started in 2014 and is headquartered in Switzerland but runs out of Denver, USA. The platform is voted by many as one of the best cryptocurrency trading platforms as it supports over 110 cryptocurrencies and can work with a free account to start transacting. The user interface is also very convenient for beginners as well as seasoned investors and traders.
ShapeShift’s incredible exchange rate speculated in real-time provides an easy-to-use platform that can also work with multiple third-party applications, thanks to its API. It also offers anonymity and allows users to trade without sharing personal details. However, there are substantial security steps to ensure complete safety in the crypto trade exchange.
Binance
Headquartered in Malta, Binance is a relatively new platform that has built a reputation very quickly. The primary reason for this is that it offers trading in over 100 cryptocurrencies and works on multiple platforms. Binance is simple to use, and the platform will guide users through its multi-dimensional user interface and creative framework to become an expert.
Binance is available on mobile, desktop, and using a web browser while ensuring a multi-layered security approach. The features around data management, application processing, and availability of open-source API makes it unique and intuitive.
So, does this sound exciting to you? If you are interested in cryptocurrency trading, it is highly recommended to study, research, and understand the technicalities before you start investing. If you want to know how the Bitcoin works and what goes on behind the scenes in the world of cryptocurrencies you can explore the concepts of Blockchain, Bitcoin, mining and trading cryptocurrencies with Shaw Academy’s online cryptocurrency course.
