With the rise in Bitcoin’s popularity, more and more people are signing up on popular crypto exchanges to purchase and trade Bitcoin. Investing in the crypto space for the first time can be an intimidating experience. Where there is a lot of buzz about people making exceptional money in the crypto space, there is also frequent news about people falling for scams and losing their investments.
Blockchain
technology itself
is highly secure and almost impossible to hack. The reason people end up losing
their money in the crypto space is they either fall for unauthentic schemes or
use an unsafe crypto exchange. The chances of your funds being compromised will
be minimal if you use a trusted and popular crypto exchange.
There are hundreds
of online crypto exchanges out there, and choosing the safest one can be
challenging at times. It is recommended that you choose from the most popular
crypto exchanges that offer reliable services and are trusted by millions of
people from across the globe.
Let’s take
a look at the list of some of the most popular crypto exchanges that serve
millions of customers every day.
Binance
Binance was founded in 2017 and became
one of the most popular crypto exchanges in the world in no time. It is secure,
reliable, and user-friendly and has over 13 million active users across
the globe.
The variety
of altcoins, low fees, and leverage trading offered by Binance make it an ideal
crypto exchange for beginners and experts alike. Binance has over 100
different crypto trading pairs, and you are less likely to switch to
another exchange or DEX if you have signed up on this exchange.
The trading
fee on Binance is extremely low, and you have to pay around 0.05% to 0.1%
depending on the type of transaction you are making. The platform also supports
multiple payment methods, including bank transfers, credit card payments, and
cash.
Binance
discontinued its services in the U.S.A. after updating its terms of services in
2019. However, the
company introduced a different version of the website that was designed
specifically for U.S. citizens. Currently, Binance US is among
the top 10 crypto exchanges in the country.
Coinbase
Coinbase is another popular crypto exchange that
hosts over 13 million users from all around the world. It was founded in
2012 and is a fully licensed and regulated crypto exchange.
Coinbase is
especially popular in the U.S.A. and is an ideal exchange for new investors.
The platform offers a simple and easy-to-use interface that makes it convenient
to buy and trade crypto. Coinbase supports over 45 different altcoins along
with Bitcoin, making it easier for users to hold and trade coins on one
platform.
The
exchange also has a pro version that offers extra features, including less
fee, new indicators and improved charts. The liquidity on both
Coinbase and Coinbase Pro is usually high, which means you will never have any
trouble acquiring or selling any crypto.
The only
drawback with Coinbase is that you will be charged high trading fees if you are
not using the PRO version.
ByBit
ByBit is another popular crypto exchange
that will make it to any trader’s top 10 crypto exchanges list.
Unlike
Binance and Coinbase, ByBit is strictly focused on specific products and
is more considerate of the altcoins it adds to the platform. It was founded in 2018
and is among the newest additions to the long list of crypto exchanges.
ByBit exchange offers privacy and anonymity
to its users by allowing them to skip the KYC (know your customer) verification.
The security of the exchange is also quite impressive as it has never
experienced any cyber-attacks. It is one of the reasons why ByBit has become
one of the most popular exchanges in a short time. The offline signature
function makes your withdrawals even more secure.
Easy Trading for Beginners
Choosing
the right crypto exchange that best suits your needs is not the only hurdle
beginners face while trading crypto.
Suppose you
want to trade crypto without having to put hours of research into fundamentals.
In that case, you can signup on PrimeXBT Covesting that allows copy-trading
for beginners as well as people who do not have enough time to actively
trade.
Conclusion
Nowadays, hundreds
of crypto exchanges exist out there, and most of them are quite risky to use.
By choosing a popular crypto exchange trusted by millions of users throughout
the world, you can significantly minimize your risks and get familiar with the
crypto space better.
