The Best Crypto Trading Websites: Newbie's Opinion

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Written by
2 years ago

Being new to the game, I naturally decided to do some research into the companies and exchanges I could and would be trusting my money with.

The next cryptocurrency exchange platform I did research on was Kraken. Being new to the crypto space back then, I naturally went to my largest information bank, Reddit.

Yes, not Google. Google is becoming top value with the search results lately, so Reddit has become my go-to place. There, I learned about Kraken, and I decided to do a little research and analyze a few trade pairs. The result?

Voila:

The Best Websites to Trade Cryptocurrency

Crypto enthusiasts all over the world have been plagued with the problem of finding a cryptocurrency website that is tailored to suit their needs. The choice of crypto websites, wallets, or exchanges is more of a subjective one, it depends on what you're looking for. As we commence the breakdown of three of the best trading websites, there is a guarantee you will find what you're looking for. They each have their own features which make them the most favorable choices, from the affiliate earning system to the user-friendliness and then the anonymity some do offer.

First on our list is Coinbase, and almost every enthusiast has heard about it. It is one of the most secure exchanges for trading cryptocurrency. They are obviously at the top of their game, and they are excelling in the financial world. Coinbase owed its success to its being able to trade in many cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Orchid, Bitcoin Cash, Dash, and so on. They have a highly beneficial affiliate earnings program as well as their earnings platform which lets users earn cryptocurrency while learning about them. Coinbase also makes it easier to add cards and make purchases with credit or debit cards right on the platform.

Next on the list is Binance trading and its most notable feature is the number of fiat currencies it supports. As of February 2020, Binance supports up to 35 fiat currencies. 'Fiat currency' refers to the normal physical currency of a nation, such as the US Dollar or British Pound. Binance also supports approximately 182 cryptocurrencies, from the well-known Bitcoin to the not-so-known Basic Attention Token. You can use fiat currencies to purchase cryptocurrency and vice versa. Although Binance is one of the most trusted platforms, it is important to know that they were hacked in May 2019 and lost US$ 40 million, which was reimbursed from their reserves. That should not discourage you, however, as they bounce back and remain one of the most secure exchanges in the business.

Then you have Changelly, which is becoming the most popular exchange platform, owing this fast-rising popularity to the anonymity it offers. With stricter regulations being put in place by cryptocurrency regulatory boards, people have to post a lot of personal information to be able to trade. People are becoming more interested in trading anonymously without personal details being there for anyone to see. Changelly allows users to buy, deposit, trade, and withdraw fiat or cryptocurrency without having to give them their ID, International Passport, or Driving license. This is a much-desired feature on cryptocurrency platforms in today's world.

As an added bonus, Changelly is well known for its speed, as transactions are usually processed in less than an hour. This is because they have a large amount of liquidity available. Finally, Changelly cannot be hacked because they are just a conduit for exchanging cryptocurrencies.

Whether it is what you're looking for: Anonymity, Security, or a wide range of options to choose from, these websites have got you covered. Be sure to try them out.

Information about BTC/USDC on Kraken

Kraken is one of the veteran exchanges, having being founded in 2011. It is based in the United States and operates under the regulations of the country. Kraken offers spot and margin trading options as well as contracts. However, Kraken isn't a popular 'first choice', so to say, as it has a number of limitations that discourage potential users. The first of these is the fact that due to its headquarters being in the US, it has to comply with the regulations over there, hence supporting about 20 coins for trade.

Also, the platform interface makes it quite problematic to use as an amateur trader. Kraken's platform offers features only professional traders can cope with. Also, Kraken does not offer much room for anonymity; although you can create an account and trade crypto without providing identification documents or KYC, the amount that can be withdrawn at such a level is very low.

None of this makes Kraken a poor choice, and Kraken continues to expand the services offered. The latest addition to their portfolio comes in the form of the BTC/USDC pair which has brought a lot of investors and traders to their doorstep. It has equally created a lot of excitement and discussion among crypto enthusiasts and discussions. If you're wondering why this is so, perhaps a brief blurb on the coins involved may enlighten you.

Bitcoin was the very first cryptocurrency to be launched; it was created in 2009 by a person called 'Satoshi Nakamoto'. Satoshi's identity remains unknown, although speculations have been made about it. Bitcoin is currently the most valuable digital asset in the market, having experienced a massive price increase in 2017. Bitcoin's creation actually launched the world into the era of digital assets, and many new assets have taken a few tips from it to develop theirs.

USDC on the other hand is a stablecoin whose value is pegged to the US Dollar which is the fiat currency of that country. 'Stablecoin' is a term used to refer to a cryptocurrency that is designed to be immune to market volatility; that is, stablecoins are structured so that their value remains constant desert fluctuations in the market. Another example of a stablecoin is the USDT owned by Tether and Gemini Dollar or GUSD. USDC is by logical comparison quite new, and the value of a single token is backed by one US Dollar, hence 1 USDC is backed by one dollar. The USDC was launched around the end of September 2018 as a joint project between Circle and Coinbase.

This pair has provided a stable means of maintaining your assets in cryptocurrency form without having to switch to fiat just to stay in tandem with the US Dollar. It will serve to protect cryptocurrency holders against volatility and offer high liquidity to them. Trading USDC on Kraken was enabled on January 8 and it has been 'blast off!' since then. Kraken sure made a smart move in doing this, as this helps traders to be more enthusiastic about investing and trading with minimal risk.

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Comments

I am also a newbie and didn’t use other exchanges except Binance. Because It is easy for me for understanding everything. But I will surely try other exchanges to become a pro.

$ 0.00
2 years ago

Yes!

$ 0.00
2 years ago

I usually use Binance and KuCoin in trading crypto. I haven't tried KRAKEN

$ 0.00
2 years ago

It's pretty Okay. Binance is now my primary exchange as well

$ 0.00
2 years ago

Hello! I liked your article and I tipped but consider this part: "having experienced a massive price increase in 2017"

Should you not update that line to reflect the even bigger price increase in 2020? In 2021? It feels like there is not much value to that paragraph describing the basics about Bitcoin. More in-depth analysis and up to date information would make for better articles I think.

Thanks!

$ 0.00
2 years ago

Thanks.

It was written in March 2020 so I guess it's quite behind the times. I'll do well to update

$ 0.05
2 years ago

Thanks. I am sorry for my comment. I thought it was a relatively recent article... My mistake! More tips! Keep up writing good stuff.

$ 0.00
2 years ago