Trading cryptocurrencies such as Bitcoin, Ethereum, and Ripple, any trader will need the assistance of reliable and legit crypto trading platforms.
Although several such platforms exist in the market, the reliable and popular ones ease investors’ process when they trade these pairs of digital coins with fiat currencies, for instance, the US dollar and Euro.
Crypto trading platforms provide investors with storage options for the cryptos. However, many analysts suggest storing in a non-custodial Bitcoin wallet to enhance security measures and boost control over your assets.
Moreover, carrying out a personal analysis is a good move before determining the crypto trading platform for your course. Still, the service fees charged is also a key factor. Many platforms charge a service fee, and thus, it’s essential to choose from those with minimal costs as you’re likely to capitalize on the yields.
We have analyzed the 5 trending platforms and have detailed them here below.
Bitcoin Loophole is a regulated and legit crypto trading platform. It has positioned itself as a reliable platform among traders for the best cryptocurrency services. Bitcoin Loophole leverages advanced techs such as a robust algorithm that enables the trading platform to execute speedy transactions on account of the traders. The platform is adept at scanning the cryptocurrency market to detect reliable trade signals and perform the market orders independently.
Among the many reasons why the platform has a large user base is that it claims to have a higher accuracy rate in market analysis. As many analysts suggest, with this higher rate, investors can join and get successful on Bitcoin Loophole.
Although Bitcoin Loophole enjoys a higher win rate, there are sets of risks surrounding the crypto industry, and thus investors should invest what they can afford to lose. Still, investors can make substantial yields on the platform or incur huge losses since the trades run on the leverage of 1:500, implying that both profits and losses are multiplied by 500.
Additionally, the trading platform takes advantage of superior technologies such as Artificial Intelligence and Machine Learning, which means that the trading bot can read various market news and analyze several charts quickly.
Bitcoin Loophole has jurisdiction in several countries, including. Italy, Hong Kong, the US, Germany, United Arab Emirates, and Denmark.
Investors can trade different pairs of cryptocurrencies as well as fiat currencies such as the Euro and the US dollar.
Moreover, many traders claim that Bitcoin Loophole has excellent features such as an effective payout system, fast withdrawals, and dedicated customer service.
Coinbase is among the largest trading platforms. It’s US-based and regulated as a crypto trading platform. Coinbase hit the market in 2012 and has since registered over $455 billion worth of transactions with over 40 million active user base holding assets worth $90 billion.
Coinbase enables investors to trade cryptocurrencies, including several other digital currencies. Moreover, investors can trade distinct pairs of fiat currencies, such as the US dollar and Euro.
Additionally, the Coinbase team of developers also has created a Global Digital Asset Exchange (GDAX) to enhance services for investors trading large amounts of digital coins. GDAX is also termed as Coinbase Pro and provides career traders with relevant trading essentials.
In a step to further enhance the trading features, Coinbase facilitates off-chain transactions, which enable its large user base to transact among each other without paying transaction costs.
Etoro is an ideal crypto trading platform that possesses social networking aspects. The platform enables its customers to trade digital currencies, cryptocurrencies, and stock.
Etoro is an Israel-based company with jurisdiction in over 100 nations.
Although Etoro began by introducing Bitcoin trading options earlier in 2013, the trading platform has gained prestige over the years for enabling other crypto trading options.
Simply put, Etoro provides two methods for trading digital coins. Investors may trade digital coins with no leverage; by doing so, the fundamental coin is held by Etoro on cold storage on account of the investor. Secondly, the investor can trade the digital currencies through Contract For Difference (CFD). In this case, the investor does not possess the fundamental coin but can only speculate the asset’s future value.
Among several factors that position Etoro as an ideal platform is that the platform provides social trading means.
Several traders term Robinhood as the affordable trading platform that provides cryptocurrency services.
Robinhood rolled into the cryptocurrency market in 2015 with incentives such as commission-free for trading stocks and exchange-traded funds (ETFs). Fortunately, through its mobile-first strategy and a pledge to facilitate smooth and cheap transactions, Robinhood rapidly evolved into a platform for both novice and skilled traders.
Though the trading platform has been entangled in controversy for its part in managing the Gamestop brief squeeze, Robinhood remains renowned for providing distinct trading options and levying affordable brokerage costs.
Since the beginning of February 2018, the trading platform added the cryptocurrency trading option for its active users. Basically, the platform began by adding Bitcoin and Ethereum options and has later added several other cryptocurrency options.
However, Robinhood has jurisdiction only in the US, while the cryptos acquired cannot be transferred to a non-custodial wallet or utilized to issue any payments.
SoFi Invest is a company based in San Francisco with user-friendly features for crypto trading. SoFi Invest emerged in the financial market for refinancing student loans and has rapidly flourished with over a million user base a decade later.
SoFi Invest provides investors the opportunity to trade several assets such as equity-traded funds and stocks. Although the platform has jurisdiction only in the US, it is reputable to several traders for its zero costs for trading stocks.
However, SoFi included other trading options for cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple back in September 2019. Additionally, the platform utilizes Coinbase to manage the cryptocurrency transactions on account of the traders.
The crypto industry is rapidly evolving as an alternative for many investors who seek to create extra income streams or diversify their wealth against global inflation. However, the industry is also encircled by certain sets of risks, and thus, relying on legit and regulated crypto trading platforms is considered a wise move. You can always check a new list of blockchain business ideas in crypto space and get the latest update.