There are many different platforms that offer crypto trading to their users. Picking the right one will depend on your location and the goal of your investments: whether you want to invest in options, get a savings account or swap different crypto assets. We have selected four crypto trading platforms with various services that can suit an experienced or new crypto trader’s needs.
Deribit Review
Deribit is a cryptocurrency exchange based in the Netherlands. Founded in 2016, it now specializes in cryptocurrency derivatives. The name stands for “derivatives” and “Bitcoin”. The platform was founded by John Jansen who has previously owned and founded several companies in various fields. The Deribit team is public and transparent: it consists of CTO Sebastian Smyczýnski, CMO Marius Jansen, and lead developer Andrew Yanovsky.
Services Overview
The big difference between Deribit and other cryptocurrency exchanges is that it focuses on derivatives. This platform offers traders an opportunity to invest in BTC perpetual contracts, BTC futures contracts, Ethereum perpetual/future contracts, and BTC/ETH options. Perpetual contracts differ from futures by not having an expiration date. Compared to other exchanges, Deribit offers bigger leverage: up to 100x in Bitcoin and up to 50x in Ethereum.
Traders can access the platform via Web, iOS, and Android apps, or API. They also support trading bot software like BotVS, Actant, and Haas Online.
Deribit website is available in 7 languages including English, Spanish, and Turkish. The support team is also available 24/7 to assist traders with any issues that may arise.
This trading platform is considered safe and had been operating without any major hacks. Approximately 95% of user funds are stored safely in cold wallets.
Payment Methods
Bitcoin is the only available currency for deposits and withdrawals on Deribit.
Fees
Deribit fees structure follows the maker-taker model. For BTC and ETH futures/perpetual the maker fee is 0% while the taker fee is 0.05%. For BTC and ETH options the maker fee is 0.03% or 0.0003 BTC/ETH per contract.
Fees for liquidation are as follows: for BTC futures/perpetual the maker fee is 0.5% and the taker fee is 0.45%. For ETH futures/perpetual the maker fee is 0.9% and the taker fee is 0.85%. For options, the maker fee is 0.19% or 0.0019 BTC/ETH per contract. The taker fee on options is 0.16% or 0.0016 BTC/ETH per contract.
Additional fees for options delivery include 0.025% for futures and 0.015% for options.
There are no fees for deposits. Withdrawals are subject to fee charge if the amount is not available in hot storage so it depends on the current state of the network.
Account Types and KYC
There are two types of accounts on Deribit: Level 0 and Level 1. The state of the account depends on the KYC completion. For Level 0, only necessary information is required. With this level, users are allowed to withdraw up to 1 BTC or 50 ETH per 24 hours. For Level 1, identity verification is required. If the passport or government ID is provided in addition to the personal details, withdrawals are unrestricted.
Ziglu Review
Ziglu is a relatively new crypto exchange that was launched in 2020. They came in strong, following a $6.6 million seed round. Founded in the United Kingdom, this exchange is regulated by the Financial Conduct Authority. Its founder Mark Hipperso is a former CTO of U.K.-based Starling Bank. Ziglu offers a perfect opportunity for UK residents to start trading crypto on a regulated exchange.
Services Overview
Ziglu exchange focuses on crypto trading. The platform supports trading with EUR and GBP as well as 10 cryptocurrencies including BTC, ETH, LTC, and BCH.
Ziglu also offers a debit card that can be ordered via its app. After your order is placed, it will arrive by mail within 3 working days. Ziglu card can be used anywhere if MasterCard is accepted.
The Ziglu app is available on iOS and Android. The support team is available to chat if you have any questions.
There is no withdrawal option yet which is an essential feature for many crypto traders but you can send funds to other accounts by using the “Payments with friends” feature.
Payment Methods
Deposits can be made in EUR or GBP using a credit or debit card, Apple Pay, and Google Pay.
Fees
There are no fees for depositing or sending funds on Ziglu. For buy or sell orders, there is a fee of 1.25%.
For the Ziglu card, the first 250 GBP over a rolling month is free, then a 2% fee is charged.
Account Types
Ziglu recently launched Sterling Boost and Bitcoin boost account options. They allow users to earn 5% interest on their GBP or BTC accordingly. Traders can get started with £1 and invest up to £10,000 in each account.
KYC
KYC completion is required in order to use Ziglu. Different types of photo ID are accepted for verification including a passport, a driving license, a residency permit, or a national identity card.
Bitpanda Review
Bitpanda is a platform that offers crypto as well as stocks and metals trading. It was founded in 2014 in Austria by co-CEOs Eric Demuth and Paul Klanschek. By 2021, the exchange has amassed over 900 thousand users. Bitpanda is registered with the Austrian Financial Market Authority (FMA) under FM-GwG and with the French Autorité des marchés financiers (AMF) under PACTE law. Because it’s located in the European Union, it will be a good fit for EU residents.
Services Overview
Bitpanda offers a wide range of trading instruments including crypto, fiat, stocks, metal, indices, and ETF trading. All of these options are available in one account. This is a brokerage service which means they supply the assets as opposed to a P2P exchange where traders exchange assets with one another.
The range of Bitpanda services includes a savings plan, instant swap, fiat payment services, a pro platform for advanced traders, and an ecosystem token called Bitpanda Token (BEST) that provides users with better fee rates and other perks.
Payment Methods
There is a range of available payment methods on Bitpanda including but not limited to credit and debit cards, bank transfer, Sofort, Neteller, Skrill, and iDEAL.
Fees
Bitpanda transactions fees for buy and sell orders are 1.49%. Deposit and withdrawal fees will depend on the currency used. Detailed descriptions of the fees can be found in the Bitpanda Helpdesk.
Account Types
Besides the main Bitpanda exchange, users can also gain access to Bitpanda Pro which offers more advanced types of orders best for experienced traders.
Holding BEST token can also offer benefits depending on the amount you hold. Level 1 are holders of at least 5000 BEST who can participate in BEST VIP votes and claim an additional 0.05% in BEST every month. Level 2 holders have at least 50000 BEST and can also participate in votes as well as claim an additional 0.1% in BEST per month. They also get lower fees on credit card and SOFORT deposits. For Level 3, at least 500000 BEST are required. Level 3 accounts have all the privileges of Level 2 with an additional 0.15% in BEST per month instead of 0.1%. They can also become a part of Bitpanda Plus program.
KYC
Due to EU AML regulations, Bitpanda users are required to complete KYC verification. To verify, users are asked to complete a 2-step verification via confirmation code sent by SMS as well as provide personal details, citizenship info, and proof of identity document.
ChangeNOW Review
ChangeNOW is an instant crypto swap service that has been in operation since 2017. Based in Seychelles, this platform is not exactly an investment-oriented service but will be useful for traders who want to buy crypto instantly and without any extra steps like registration and verification. Since its inception, ChangeNOW has provided services to over 1 million satisfied clients.
Services Overview
ChangeNOW is available via web platform, on iOS and Android as well as via Telegram crypto bot. You can also use crypto wallet to store your funds. It’s a non-custodial services which means that your funds are kept on your device. Additionally, ChangeNOW also offers crypto loans, payment services, crypto portfolio tracker, nodes, and block explorers. Almost anything an individual trader might need, can be found here.
Payment Methods and Fees
Besides offering instant swaps on over 300 cryptocurrencies, users can also buy crypto assets with Visa and MasterCard bank cards. The bank card purchase is facilitated via partner services Simplex and Guardarian which apply a fee of 7% or more. Regular transaction fees depend on the type of rate you choose: classic or fixed. They can be anywhere between 0.5% and 4%.
KYC
The best thing about ChangeNOW is that no account registration or verification is required. Users can simply purchase or swap their assets and get them straight to the wallet. If you use NOW Wallet then a notification will be sent to your email address.
DYOR
In this article, we have provided a variety of crypto investment services and tools that can help both new and experienced traders. As can be seen, some of them (Deritbit, Ziglu) are better suited for citizens of certain countries while others (ChangeNOW) are able to provide a wider range of services to others. All of these platforms have been researched for the article to make sure they are reputable and have security measures in place to protect their users. Still, peace of mind is achieved by doing your own research and trying the service with small amounts first to see how it works.
Hopefully, one of the platforms mentioned above will suit your needs and help you take advantage of blockchain technology for your investment needs.
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