Best Crypto Trading Platform

If you're in search of the top-performing cryptocurrency exchange, Kraken is definitely a contender for this position. It is hard to answer the question of what is the best crypto trading platform without at least giving this project a mention, as it has become a major player in this industry.

So, what sets Kraken apart from many other platforms? To begin with, the exchange offers more than 150 different cryptocurrencies for users to trade, buy, and sell. While this might not seem like a lot compared to the thousands of crypto assets available today, it is worth remembering that many cryptocurrencies have been abandoned by their initial team and do not have a solid user base or use case. This is not to say that only approximately 150 cryptocurrencies are worthwhile, but numerous bear markets and changes to the industry will cause a lot of projects to lose their utility and become defunct.

But most of the coins and tokens that do are listed on Kraken. This means that, while the number might feel low when looking at the entire crypto sphere, if you filter out the dead and low-performing projects, you will find that practically all that is left behind will be there.

One of the standout features of Kraken is that it allows users to purchase cryptocurrencies with fiat, which makes the whole process a lot simpler. You could actually consider this point to be a demerit to the world of decentralized cryptocurrency trading as-a-whole, as most of those projects do not allow fiat transactions, which makes them hard to navigate for beginners.

The exchange also boasts of a great mobile app that is both easy to use and intuitive, as well as top-quality customer support (something that is often forgotten about unless required). Needless to say, these elements alone make it one of the best crypto trading platforms for beginners.

When it comes to fees, Kraken is very competitive. They charge anywhere from 0% to 0.26% for transactions, which is much lower than what some other crypto exchanges charge. So, if you're looking for a reliable and affordable platform for your cryptocurrency trading needs, Kraken is definitely worth considering.

If you’ve been on the hunt for the best crypto trading platform, you've likely stumbled upon Coinbase more than once. This is no surprise as Coinbase is often hailed as the go-to spot for buying and selling cryptocurrency.

So what sets Coinbase apart from the competition? For starters, it is incredibly user-friendly. Signing up and getting verified is simple, and the platform's interface is sleek and easy to navigate. Unlike other exchanges, you won't be inundated with a million different hoops to jump through. Naturally, this makes it the perfect contender for the position of best crypto trading platform for beginners.

But the real selling point of Coinbase is its security. Despite numerous attempts to hack the platform, it is yet to suffer a major breach. Not only this, but it is trustworthy enough to even be a publicly listed company. This is a big deal as it means that the SEC and other regulatory bodies are monitoring it.

The fact that it is publicly traded means that these institutions see it in a positive light. Regulatory giants are not easy to please, especially if you’re a cryptocurrency company, and so the fact that it is publicly listed, with SEC filing reports that are open to the world to read, is a massive sign that they are deserving of the trustworthy reputation they have established.

Of course, no platform is perfect. One major drawback of Coinbase is its limited selection of cryptocurrencies. While you can buy some of the biggest names in the industry, like Bitcoin and Ethereum, others (like Monero and Tron) are notably absent. While this can certainly be frustrating for some, Coinbase arguably makes up for this by offering a powerful application that supports various other huge names, meaning that most people will find a handful of coins or tokens they want to invest in.

It is also worth giving you a heads-up about fees. In truth, Coinbase is not the most cost-effective option out there. Depending on your country and the amount you're trading, fees can range from 1.49% to 3.99%. That is problematic for some. But for many users, the peace of mind that comes with Coinbase's top-quality security is well worth the extra cost.

Undeniably, Bitstamp may not be as widely discussed as other cryptocurrency exchange platforms on this list. Nevertheless, it has gained a highly dependable and trustworthy reputation among veterans in the industry!

Bitstamp has truly earned this honor, which is not an easy accomplishment, by any means. The exchange had to overcome security vulnerabilities and adapt to the ever-evolving crypto landscape. Today, regardless of the aspects that you evaluate it over (customer service, fees, security, or otherwise), Bitstamp is consistently held in high regard.

This cryptocurrency exchange is commonly viewed as a better option for experienced traders seeking professional-grade functionality to match their trading skills, rather than beginners. This means Bitstamp offers advanced features, enabling users to trade crypto professionally. This is, in part, because it has a long-standing history in this space, with many people who would confidently consider it to be the best platform for trading crypto.

This naturally means its user base is more professional as they have stuck with it over a long time, and so they have improved their capabilities, too. However, this is not to say that Bitstamp does not have beginner-friendly tools within its infrastructure. For starters, its mobile app is simple, effective, and well-regarded in the space. However, sadly, it is not available for US and UK traders, although it is very much accessible to the rest of the world.

Another huge feature is its Lightning Network integration. This is a tool that is loved by beginners and experienced users alike. The inner workings of Lightning Network are beyond the scope of this piece, but in broad strokes, it is a Bitcoin layer that allows for fast and affordable transactions to take place without incurring the traditional transaction fees and times that veteran users are accustomed to.

The fact that a major exchange like Bitstamp is integrating with Lightning Network is a sign that they are firmly on the side of innovation, and wholeheartedly support updates and edits to the Bitcoin network. Not only this, but it ensures that complete beginners can engage with Bitcoin by trading low quantities without having to be scared of huge fees.

Experienced traders may have forgotten this, but many retail traders who are just starting out simply want to put a few dollars into a coin to test the waters, but fees have a tendency to scare them and put them off from engaging. Taking a look at fees built within the platform itself, Bitstamp offers a fee range from 0.05% to 5%. The actual fee charged depends on the user's preferred payment method. As you have probably recognized, this is a fairly competitive range.

When it comes to finding the best crypto exchange, Coinmama is definitely a name that should come up. While it is not mentioned by the public as often as some other platforms on this list, it is well worth being considered up there with them. It is an overall well-rounded platform, although there are a couple of standout features that are worth pointing out.

Firstly, Coinmama is known for having some of the best customer support around. Its team is highly accomplished and extremely helpful if you have any questions or concerns about your trading activity or behavior. This is unbelievably important as this industry is undeniably hard for some newcomers. Not only this, but the fact that crypto is so new, technologically, means there are bound to be problems at times. Having a strong team who will help their customer base navigate these situations is great.

On top of that, the platform is user-friendly, with all its features being easy to find and use. In fact, one of the company’s overall goals is to stimulate adoption on a global scale. This essentially translates into being beginner-oriented, making it a perfect spot for those just starting out in the space who want to learn the ropes and test out the industry.

However, the fees are a major concern for some users. Coinmama charges a hefty fee of up to 3.99%, which is definitely not ideal, especially for experienced and institutional investors. However, for novices and newcomers, this percentage might not be too worrisome, if you simply want to try your hand at trading to see if you like it. This means that, even in spite of this, it could still be an answer to the question of “what is the best crypto trading platform”?

CEX.IO is recognized as one of the most user-friendly and uncomplicated cryptocurrency exchanges available today - naturally making it a contender for the best crypto trading platform for beginners. This is noticeable at first glance due to its friendly aesthetic, but it is best exemplified by its instant buying feature and its upcoming crypto debit card that aims to simplify the act of buying goods with crypto.

Not only this, but it cannot be ignored that CEX.IO also has a strong reputation for being highly secure. The platform has stringent security measures, such as 2FA and email notifications for all login attempts; two elements that are seen as necessary nowadays as we live in an era of fervent crypto scammers.

These features are especially valuable to users who prioritize the protection and safety of their digital assets, and their existence encourages businesses to use CEX.IO for their own trading and storage needs. Even if you are not a business or institutional trader, this is good news as high-level investors bring more liquidity to the market. This means that even novice traders can benefit from CEX.IO's encouragement of whales using their platform.

Moreover, CEX.IO provides favorable fees to its clients, with rates ranging from 0% to 0.25%. For high-level traders who invest a lot of money, this is a huge benefit as low fees become more important as you deal with higher numbers. And so, with all of this in mind, CEX.IO is a highly favorable option for a range of people, including beginners and advanced individuals.

Crypto.com is a prominent player in the cryptocurrency world, offering a comprehensive suite of financial services centered around digital assets. Founded in 2016, the platform has grown rapidly, boasting a user base of over 100 million by mid-2024.

Crypto.com provides a user-friendly app for buying, selling, and trading around 400 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and many altcoins. Beyond its exchange services, Crypto.com offers a non-custodial DeFi wallet, an NFT marketplace, and even a direct payment service for cryptocurrency transactions.

One of Crypto.com's most recognizable features is its Visa card, which allows users to earn cashback in CRO, the platform's native token, on their everyday spending. The card comes in various tiers, each offering different levels of rewards and perks, such as rebates on streaming subscriptions and airport lounge access.

Crypto.com also takes security seriously. It holds all customer assets deposited on our platform in institutional-grade reserve accounts on a 1:1 basis. Users’ accounts are protected by the latest security advancements, including Passkeys, HSMs, and FIDO2, as well as MFA methods like passwords, biometrics, and authenticator codes.

It also runs an active bug bounty program on Hacker One, where people can disclose security vulnerabilities on the platform and get rewards.

BYDFi is a cryptocurrency exchange platform that aims to provide a user-friendly experience for both novice and experienced traders. While relatively newer compared to some established giants, BYDFi has focused on offering a diverse range of trading options. Some of BYDFi’s key features include:

• Spot Trading: Buy and sell cryptocurrencies at current market prices.
• Derivatives Trading: Trade cryptocurrency futures and options contracts.
• Copy Trading: Automatically replicate the trades of experienced traders.
• Mobile App: Trade on iOS and Android devices.
• Educational Resources: Guides and tutorials for learning about crypto trading.
• Trading Bots: Use automated tools to trade cryptocurrencies like a pro.

The platform supports more than 400 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). BYDFi also aims to provide competitive trading fees by offering a flat maker/taker rate of 0.1% on its spot trading platform.

When it comes to security, BYDFi implements essential measures to ensure users' data and funds safety. It uses Amazon Web Services, multi-factor authentication and hardware verification, as well as SHA512 with 512-bit encryption to protect the system. Users can also use two-factor authentication (2FA) using Google Authenticator and SMS to protect their accounts.

Gemini is a prominent cryptocurrency exchange established in 2014 by Cameron and Tyler Winklevoss with its headquarters in New York. It caters to both novice and experienced traders, offering a secure and user-friendly platform for buying, selling, and storing digital assets.

Currently, Gemini supports around 70 cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), and some meme coins like Shiba Inu (SHIB) and Pepe (PEPE). While this list is relatively limited to other big names in the market, it still allows users to diversify their portfolios and explore other investment opportunities.

The platform is known for its user-friendly interface, making it easy for newcomers to buy, sell, and manage cryptocurrencies. For more experienced users, Gemini provides ActiveTrader, a platform with advanced charting tools, multiple order types, and faster order execution.

Another notable feature is Gemini Earn, which allows users to earn interest on their cryptocurrency holdings. Security is also a cornerstone of Gemini's operations. The exchange implements robust measures to protect user assets and data, including:

• Cold Storage: The majority of user funds are stored in offline, air-gapped cold storage systems, safeguarding them from online threats.
• Two-Factor Authentication (2FA): Users are required to enable 2FA, adding an extra layer of security to account access.
• SOC Certifications: Gemini has achieved SOC 1 Type 2 and SOC 2 Type 2 certifications, demonstrating its commitment to industry-leading security standards.
• Insurance Coverage: Digital assets held in Gemini's hot wallet are insured against security breaches and fraudulent transfers.

All in all, Gemini stands out as a reliable and secure cryptocurrency exchange, offering a comprehensive suite of features tailored to meet the needs of a diverse user base.

Robinhood is a popular commission-free investment platform that gained widespread recognition for democratizing access to financial markets. Initially known for its user-friendly mobile app and commission-free stock trading, Robinhood has expanded its offerings to include options trading, exchange-traded funds (ETFs), and cryptocurrencies.

The platform's intuitive interface and simplified trading experience have attracted a younger generation of investors, making it easier for them to start investing with smaller amounts of capital. Robinhood's appeal lies in its ease of use, particularly for beginners who might find traditional brokerage platforms intimidating.

While Robinhood offers access to a growing number of cryptocurrencies, its selection is generally smaller compared to dedicated crypto exchanges at around 40 assets.

Despite that, Robinhood takes security seriously. It holds the majority of users' coins in cold storage, entirely disconnected from the internet. Robinhood also carries crime insurance that protects a portion of the assets held across its storage systems against losses from theft, including cybersecurity breaches.

The platform also provides multi-factor authentication on all accounts, so users can protect their assets even further. Last but not least, Robinhood maintains strong US regulatory compliance, holding licenses from the New York State Department of Financial Services and FinCEN.