In this article we discuss the 5 best cryptocurrency trading platforms in 2021. If you want to read our detailed analysis of the crypto industry, go directly to 15 Best Cryptocurrency Trading Platforms in 2021.
5. Bitfinex
Cryptocurrencies: 140+
Payment Methods: Crypto, Bank Wire, Credit/Debit Card, Express Bankwire
Founded in 2012, Bitfinex is owned and operated by iFinex Inc. It has a user-friendly interface and also offers margin trading to its customers. Bitfinex provides a wide range of cryptocurrencies and multiple payment methods to investors. The exchange has suffered some unfortunate security incidents in 2015 and 2016. It now requires two-factor authentication and Universal Second Factor (U2F) while monitoring users’ IP addresses for aberrant movements. The platform offers fair prices with fees as low as 0.10% for orders less than $500,000 per month.
Pixabay/Public Domain
4. Bittrex
Cryptocurrencies: 250+
Payment Methods: Bank Transfer, Credit/Debit Card, Wire Transfer
Bittrex is a project of three cybersecurity engineers and was founded in 2014. The exchange is very simple to use, which is why it is best for beginners. Bittrex focuses on Muti-Sig wallets and Anti Money Laundering (AML) policies to answer the security concerns. Bittrex offers competitive rates with a 0.35% maker and taker fee on orders less than $25,000. The fast transactions also make it one of the customer-centric exchanges operating today.
Pixabay/Public Domain
3. Kraken
Cryptocurrencies: 50+
Payment Methods: Wire Transfer and Bank Transfer
Kraken is the oldest crypto trading platform and is offering its services since 2011. It was founded by Jesse Powell and is owned by Payward Inc. Kraken is regarded as one of the most trusted and secure crypto trading platforms because the digital assets are stored in cold wallets with encrypted account information. Kraken is available across 46 U.S. states and 176 countries. The fee is as low as 0% to 0.26% of the total value and is charged when the order is executed. In 2020, Kraken became the first crypto company to be awarded the charter of U.S. state banking. Kraken bank charter will launch digital and crypto banking products. Kraken has nearly 6 million clients and deals with around seven fiat currencies. Like its rival, Coinbase, Kraken also plans to go public through a direct listing in 2022.
2. Binance
Cryptocurrencies: 150+
Payment Methods: Debit/Credit Card, Wire Transfer, Bank Account
Binance focuses on altcoin trading. Founded in 2017 by Changpeng Zhao, Binance offers traders a wide range of cryptocurrencies including the most famous ones like Bitcoins, Ethereum, and Litecoin. Along with the other cryptocurrencies, Binance has its custom-made Binance Coin (BNB), which is used for purchasing and paying transaction fees. Binance is the largest crypto exchange based on trading volume. It also supports around 46 fiat currencies. The platform has a standard fee of 0.1% for buying and selling and a 25% discount for customers holding BNB. Binance became a decentralized exchange (DEX) with the development of Binance DEX in 2019 to encourage more peer-to-peer trading. Their mobile app is highly user-friendly because of its two versions. The Lite version of the app is suited for beginners, while the Pro version is best for experienced traders. In 2020, Binance turned a profit of about $570 million and expects to reach $800 million this year.
Photo by André François McKenzie on Unsplash
1. Coinbase Global, Inc. (NASDAQ: COIN)
Cryptocurrencies: 40+
Payment Methods: Debit/Credit Bank and Bank Transfers
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. The company has 56 million verified users in over 100 countries with 7 million monthly active users. Coinbase operates as a centralized exchange. The users can store their investments through custodial wallets; however, the private keys to the coins are owned by Coinbase. The company provides a wide range of cryptocurrencies and is a user-friendly exchange. Recently, Coinbase Global, Inc. (NASDAQ:COIN) has made its public debut, making it the first significant crypto company to go public. Coinbase went public via a direct listing rather than a traditional initial public offering IPO, in which new shares are created and then sold to the public. The company was valued at $85 billion in its market debut, a massive jump from $8 billion in valuations in 2018. In Q1 of 2021, Coinbase pulled out the revenue of $1.8 billion [Don’t Miss: Avoid Overvalued Coinbase and Buy These Bitcoin Stocks Instead]
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