Choosing the right exchange platform is a critical decision for anyone who wants to trade cryptocurrencies. In order to trade cryptocurrencies, you need to open an account on one of the exchanges.
There are many different types of exchanges, but all of them have common characteristics: they allow you to deposit and withdraw funds from your wallet and buy or sell cryptocurrencies.
When you’re looking for an exchange platform to trade cryptocurrencies, the choice is not simple.
There are many aspects to consider before making your decision.
Here are a few key questions:
The first thing to consider is security. You will want a platform that has never suffered from security breaches or hacks, or else your money has no guarantee of being safe.
The second important factor is cost. Some platforms offer very low rates for transactions, but this may also mean higher fees for withdrawals and deposits (which could end up costing more than if you had chosen another platform).
The third factor is the number of crypto-currencies available on the platform in question; some platforms may only allow you to trade certain types of crypto-currency while others allow you access to a much larger range of coins (which can make it easier for you to find what works best for your needs).
Finally, there is difficulty level associated with using each platform; some platforms are easier than others with which to use while others have more advanced features which may make it difficult for newbies
For this reason, we will only mention 2 platforms (the ones we use):
First, Coinbase is a very safe platform to deposit money at the moment, it has so far never been hacked and therefore has not known any loss of cryptocurrencies and fiat currency. It uses cold storage of funds (storage of funds not connected to the network) and it uses 2FA two-factor authentication technology. The fact that it is an American company also proves its seriousness, because the regulations in the United States are strict in the field of money.
The second one is Binance, it is the platform of the moment which has a great exposure. It also uses cold storage of funds and uses 2FA two-factor authentication technology which makes it secure as well. Binance is a decentralized exchange with a large number of available coins. It uses cold storage of funds and 2FA two-factor authentication technology to ensure maximum security.
Binance when it will be made only for trading and has the advantage of having many more crypto currencies available than Coinbase. The fees are also a little lower.
Coinbase and Binance are two of the most popular exchanges for trading cryptocurrencies. There are pros and cons to each, so it’s important to understand what they offer before you start trading on either platform.