Before investing in an encrypted trading platform, be sure to thoroughly research its security measures. The Internet is full of examples of hackers defrauding traders from under-protected cryptocurrency exchanges. How do you choose among the several cryptocurrency exchanges available?
It's no surprise that Coinbase is one of the world's most famous cryptocurrency exchanges and tops the list. Since 2012, cryptocurrency traders have been relying on Coinbase, and over time, cryptocurrency exchanges have become stronger.
Despite its short existence, Binance has quickly become one of the most popular cryptocurrency exchanges.
Binance is a global cryptocurrency exchange headquartered in Hong Kong, supporting more than 500 different cryptocurrencies. The website is relatively straightforward in terms of navigation, allowing users to choose between advanced and basic website versions in their spare time during their career development in cryptocurrency trading. Even if you are new to cryptocurrency trading, Binance may be your ideal choice because of its low transaction fees, powerful charting tools and a user-friendly mobile application. With all these exciting features, it is easy to see how Binance has developed into one of the largest cryptocurrency exchanges in the world.
Robinhood is not the first name on cryptocurrency trading. It's no secret that Robinhood is an app focused on stocks. However, in 2018, it also began to allow users to trade cryptocurrencies. Dogecoin is one of seven cryptocurrencies that the company has added to its app in the past few years, allowing users in specific states to exchange currency.
Gemini was founded by the Winklevoss twins in 2014 and has become one of the most prestigious names in the cryptocurrency industry. The two most famous cryptocurrencies traded on Gemini are Bitcoin (BTC) and Ethereum (ETH). Despite this, the exchange still allows users to trade more than 40 alternative cryptocurrencies on its platform, including Gemini USD (a stable currency backed by the U.S. dollar) and Bitcoin Cash. Legitimacy is at the core of Gemini, which is why it was created with compliance in mind. The website is underwritten by FDIC and the company is also the trustee. This means that safety is the most important thing for Gemini.
Many coins traded on Gemini are kept in cold storage, which makes the exchange one of the safest. In addition, Gemini has a responsive customer service department.
Since its establishment in 2011, Kraken has established itself as a reputable and secure cryptocurrency exchange.
There are only 90 coins to choose from, and Kraken may not have the largest range of cryptocurrencies, but this does not prevent it from becoming a favorite of cryptocurrency investors due to its rich and useful features. For experienced traders, Kraken's Pro website is the place to go. Crypto futures and margin trading will definitely attract advanced users, while the opportunity to mortgage assets will attract those who like to set up and forget. The company uses its own proprietary hosting system and does not rely on any external services for security.