Best 4 Crypto trading platforms For Beginners
Bitcoin, the best-known cryptocurrency, hit the industry during the 2008–2009 economic turmoil. Earlier on, controversies encircled the crypto sector. Many people remained skeptical about digital currencies due to various factors such as security protocols or fear of losing crypto assets to hackers.
These concerns were weighty back in 2009. However, advancement in high-tech, primarily Blockchain technology, has driven the growth of cryptocurrencies in both price and global status.
Therefore, to trade Bitcoin and other cryptocurrencies, you need reliable and regulated crypto trading platforms, and we have detailed the best here below.
Below is the list of the best crypto trading platforms for beginners:
1. eToro
2. Bitcoin Profit
3. Coinbase
4. Kraken
1. eToro
Fully regulated by the FCA, eToro is one of the leading crypto trading platforms in the UK.
eToro offers 45 different cryptocurrencies to trade on its platform, which allows new customers to sign up and deposit with as little as £50.
eToro has more then 13 million active customers, making it more popular than competitors such as FreeTrade, Revolut and Trading212.
While the eToro platform does not charge flat fees for crypto purchases in the UK, users will incur a spread of approximately 1–2% depending on the crypt asset.
Finally, in addition to buying crypto, users of the eToro investment platform can also invest in over 800+ stocks, 100+ ETFs, commodities and use the CopyTrade feature to copy other successful traders.
2. Bitcoin Profit
Bitcoin Profit is one of the crypto trading platforms that takes advantage of high-tech such as Artificial Intelligence and Machine Learning. These advanced techs have appeared instrumental in market and chart analysis, which gives the trader an upper hand in securing reliable trading deals.
Although it’s considered fresh in the crypto sector, Bitcoin Profit is well-known as a successful crypto trading platform. Bitcoin Profit has a robust algorithm that helps traders predict the trends in crypto prices. Thus the trader can track the market with much ease.
Bitcoin Profit has great features, which include;
Payout System
Bitcoin Profit has a payout system that runs after the end of the live session. This means the winnings are calculated quickly to enable the trader to cash out or start another trade.
Verification System
A verification system is a vital security protocol for any platform that helps lock out unauthorized users from accessing the trading platform. You need to provide a few details such as name or other user logins to confirm their authenticity.
Increased Profitability
Just like any other investment, the crypto market has its own sets of risks. Cryptocurrency prices are highly volatile, but several Bitcoin Profit traders claim to have a thriving industry journey. Others claim to generate substantial profits frequently by trading various digital coins when their prices fluctuate.
Crypto pairs
Bitcoin Profit provides traders several crypto alternatives such as BTC/ETH and BTC/XRP. Also, you can trade crypto-fiat pairs such as LTC/USD or BTC/USD.
Customer service
The underlying customer service is considered quite responsive and available on a 24-hour basis. You can as well contact the service team through live chat, Facebook, or email.
Anyone can join this platform since the registration process is easy and completely free. Moreover, the team behind Bitcoin Profit is helpful.
3. Coinbase
Coinbase was initially launched as a digital wallet to enable users and traders to make international payments and trade digital currencies. Coinbase emerged in 2012, a few years after the inception of the Bitcoin code. Coinbase is a Francisco-based company that offers traders essential tools for trading various digital coins, for instance, Bitcoin, Ethereum, and Ripple.
Widespread acceptance of digital coins has given the company a significant boost, which saw its market cap breach the $10 Billion mark. So far, the company has attracted large global investors such as USV and DFJ, including a large user-base.
Coinbase is attributed to GDAX, a trading platform that enables users to buy and sell digital currencies. GDAX is regulated and a US-based platform, offering essential tools and stunning features that are easy to use.
4. Kraken
Kraken is a US-based company. It’s considered among the most prominent global platforms based on high liquidity levels, including USD volume. Kraken allows investors to trade digital coins using fiat currencies such as the Euro, Yen, or the Britain pound.
Kraken has been in the industry for a couple of years now, thriving under the competitive crypto market as one of the best crypto trading platforms.
Kraken has achieved a significant milestone, coming as the first crypto platform on Bloomberg terminal in terms of price posted and the overall trading volume. In addition, its user-friendly features have attracted a wide range of users globally.
As far as crypto trading is concerned, Kraken offers its users essential investment tools to buy and sell digital currencies. Any beginner will find these tools convenient because they provide helpful market info.
How to start trade for beginners
Many market analysts have always emphasized employing the right trading strategies. One is because the profit-loss cycle has seen several traders make huge profits while others were driven out of the markets without a penny.
Thus, carrying out extensive research into the industry is one of the best moves. Another factor to consider is identifying the reliable and regulated platform for your course. The right platform will offer the best investment tools to buy and sell different cryptocurrencies.
After settling on the trading platform, you need to follow these easy steps.
Register
This is the first step and entirely free. Visit the official site of your preferred platform and complete the application form. You will provide minimal info such as name, email address, contact number, and password. Your account is activated in a couple of seconds after clicking on the verification link.
Upon registration, the system will automatically pair the beginner with a regulated broker. The broker works closely with the trading platform and helps in executing trade transactions.
Deposit
The beginner has to make a capital investment through the underlying broker to begin live trading. The initial amount is affordable based on the expected returns a trader can generate frequently. You can make the deposit amount through various payment methods such as Paypal, Visa, and Mastercard, which is processed quickly into your account.
Live Trading
You can start live trading immediately after the amount reflects in your account. Many traders have claimed to generate profits by employing tactics such as stop loss and using the Bitcoin Profit platform to buy and sell cryptocurrencies when their prices fluctuate.
Conclusion
The crypto industry began amidst controversies. However, the industry has transformed into an alternative financial market that has thrived under the pandemic cloud. Moreover, many cryptocurrencies have picked a price momentum, and traders are taking advantage of their fluctuating prices to generate income streams.
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