The importance of using a top crypto platform need not be overemphasized. A lot needs to be right when trading cryptocurrency as this can determine your yield or your loss.
First and foremost trust has to be established. The quality of service has to be what’s expected so you can solely focus on managing risk and making profits other than enduring poor services.
The platform’s interface has to be simple to navigate so absolute beginners can find their way without doing much digging.
Fortunately, there is a host of reliable crypto trading platforms which are better-called Exchanges.
In this article, we bring to you a roundup of 5 crypto trading platforms that are reliable yet with less trading fee in 2021. This will provide you with what to look out for when choosing a trading platform and what suits you best.
Let’s jump in!
Top 5 Crypto Trading Platforms
With over $150B businesses carried out on the platform, Coinbase is arguably the biggest on our list. It also has the biggest amount of daily Bitcoin transactions on the planet. The platform allows you to trade on Bitcoin, Ethereum, Litecoin, XRP, and many more cryptos and tokens.
Base in the US, Coinbase allows users to pay for cryptos directly with USD. The maximum daily transaction is $25,000, people in the US can increase their daily limit by completing a wire transfer to their Coinbase account. People outside the US can increase their minimum transaction amount by verifying their account through the various processes.
One area stands Coinbase out and that’s security, they take security as a top priority making it safe for users.
Another enticing attribute of Coinbase is the low investment startup amount – with just $2 you can own your first bit of coin.
Now, to the transaction fee, I’d be right to say that the 0.5℅ spread fee is competitive enough according to the market rate. This doesn’t include the transaction fee which differs according to the currency.
2: Cash App
Among other services offered by Cash App is buying, holding, and selling crypto. This Exchange is included on our list for the sole reason of its simplicity. The interface is beginner-friendly this allows new users to easily navigate to what they want on the first visit.
At the time of compiling this list, Cash App only allows Bitcoin trading which is what a lot of people are interested in anyway. This is likely to change soon and they will extend to other cryptos.
You can buy and hold Bitcoin from the available balance on your Cash App account by just tapping “Investing”, tap “Bitcoin” then tap on “Buy”. It’s that simple.
The fee for transaction differs per the transaction amount but doesn’t exceed 3℅ of the total transaction. So, it falls within the expected range.
Gemini is another very secure Exchange and they boast the record of never been penetrated by hackers. And, just like Coinbase, Gemini is based in the US this means they are sufficiently regulated against all foul play.
With over 20 tradable cryptos on the platform, you’re sure to find your desired asset.
Just like many other Exchanges you can transfer money to your Gemini wallet and buy a coin of your choice. Gemini allows a maximum of $500 transfer daily and a $15,000 transfer monthly. Also, you have the option of getting funding from other crypto wallets.
Gemini transaction fee is a bit higher than the market average but thanks to other factors we still deem Gemini fit to be on our list of top 5 crypto trading platforms in 2021. Transaction fees start from $0.99 to $1.49.
Read also>> Ether hits all-time high as Bitcoin price rises
Started in 2017, Binance is known to allowing the highest number of tradable cryptos and also the quickest to list a new ICO.
On Binance, you can buy and sell Bitcoin, Bitcoin Cash, Ethereum, Litecoin together with almost 100 other cryptos. That’s a lot. Amount of transaction allowed depends if you’re a verified user, a verified user is allowed to spend a daily maximum of $5000.
To buy crypto on Binance you need to go through a peer-to-peer transfer, bank deposit, credit cards, and third-party payment. You can start trading immediately on by clicking here.
Binance is safe to use, users make use of the two-factor authentication procedure while initiating transfers. This makes sure every transaction is verified by the account holder. The authentication process involves a code being sent to your phone number where you supply the code back to the site before a transaction is approved.
The trading fee is one of the lowest in the market as low as 0.19℅. Deposits are free but you’re charged for withdrawals.
Etoro has a lot going for crypto traders example is the copy trading service which allows traders to spy on trades performed by other investors thereby making informed decisions.
Etoro has over 5 million users all around the world and anyone who has involved in crypto trading over time has got to know about Etoro. Research also shows that Etoro offers the highest number of cryptos to trade on.
To trade on the platform you first need to sign up and go through the account verification process. Depositing is free and you have the following methods: Credit/debit cards, PayPal, Neteller, Skrill, Rapid transfer, iDeal, Bank transfer etc.
Each payment method has its respective maximum deposit except for bank transfer which has no limit.
Transaction fees are somewhat high for example; Bitcoin transaction invited a fee of 0.75℅.
Haven’t seen our list of top 5 crypto trading platforms with cheap trading fees, it’s always better safe than sorry; we might have considered Exchanges trustworthiness over transaction fees. An Exchange with inadequate security measures isn’t going to do you any good in the long run as entire assets could be lost.
Just you know, a transaction fee is considered high only when it exceeds 4℅ of the total transaction amount. Anything below is considered moderate and on our list, we’ve picked Exchanges with high security and moderate fees.