10 Best Crypto Exchange and Platforms

Best Crypto Exchange and Platforms

Our top ten bitcoin exchanges and investment or trading platforms are listed below. The College Investor receives income from the firms that advertise on this site with cryptocurrency deals. The College Investor does not cover all bitcoin exchanges or all cryptocurrency deals.

10 Best Bitcoin and Cryptocurrency Exchange

1. Coinbase (Best Crypto Exchange and Platforms)

Because you can invest directly with US dollars, Coinbase is by far the most popular and finest cryptocurrency exchange. Bitcoin, Ethereum, and Litecoin, as well as more than 30 other coins and tokens, are presently available for purchase on the site. You can also earn interest on your USDT, as well as token incentives, by participating in various activities.

Pros and Cons of Coinbase

Pros

• The most user-friendly interface
• Invest in a wide range of tokens and currencies.
• High level of security and dependability

Cons

• If you don’t use Coinbase Pro, you’ll pay a lot of money.
• The user has no control over the wallet’s private keys.
• Popular new coins are being adopted slowly.

Check This Also:- The Best 5 Hardware Wallets For Bitcoin

2. Voyager

Because it was one of the earliest publicly traded exchanges, Voyager is a popular place to invest in cryptocurrency. They are app-based and provide a commission-free trading environment.

Voyager accepts the majority of major cryptocurrencies, offers excellent customer service and involvement, and offers reasonable interest rates on assets.

Plus, if you open a Voyager account and trade $100 in crypto, you’ll get $25 in BTC.

Pros and Cons of Voyager

Pros

• App-based UI that is very simple to utilize
• Trading structure with no commissions
• Voyager offers competitive interest rates.

Cons

• Withdrawals are made gradually (can take upwards of 1 day
• In New York, it is not available (yet)

3. Blockfi (Best Crypto Exchange and Platforms)

BlockFi is a bitcoin investing platform that allows you to lend your cryptocurrency and earn interest on it. You can also borrow against your assets rather than sell your coins and tokens.

If you merely want to keep your tokens, you can let them earn interest on their own.

Bonus Offer: Get a bonus of up to $250 when you deposit $25 and keep it for the required amount of time.

Pros and Cons of Voyager

Pros

• There are no commissions or fees.
• Regulatory and based in the United States
• Deposits might earn you a lot of money.

Cons

• There aren’t many tokens and coins supported.
• Free withdrawals are limited.

4. Uphold

Uphold provides a straightforward approach to trading numerous assets: open a single account and trade multiple assets without having to return to cash. If you’ve ever traded cryptocurrency, you’re aware that many currencies and tokens only trade in specific pairs, so you’re always returning to BTC or ETH. On the other hand, you can trade many assets at once on Uphold.

Uphold is also one of the few exchanges that allows you to trade XRP, DOGE, and other cryptocurrencies.

Pros and Cons of Uphold

Pros

• Pricing structure that is simple and transparent
• Several crypto currencies and even certain equities, including well-known ones like XRP, are available.
• Both desktop and smartphone apps are available.

Cons

• Some of the items in this list are more difficult to use than others.
• There have been several reports of bad customer service.

Check This Also:- Bitcoin Private Keys- Wallets and Usage

5. Kraken

Kraken is one of the first cryptocurrency trading platforms, with a wide range of coins and tokens to trade and invest in. They also allow you to trade on margin. It is, however, a real exchange that is not as user-friendly as other of the top platforms on this list.

Kraken is one of the few platforms on this list that lets you trade DOGE and other riskier tokens.

Note that US clients have access to a smaller selection of coins and tokens than international customers.

Pros and Cons of Kraken

Pros

• One of the oldest cryptocurrency exchanges
• High levels of trust and security
• A wide range of cryptocurrencies and tokens are available for trading.

Cons

• One of the more challenging platforms to work with.
• Having trouble with 2FA
• There have been several reports of bad customer service.

6. eToro

eToro has been available for a long in the United Kingdom and Europe, but it is now open to traders in the United States. They have a large selection of digital assets to purchase and sell on their platform, and they even have a trial trading account so you can try it out before investing real money.

eToro is also currently providing a $10 bonus if you deposit and trade $100 in cryptocurrency.

This advertisement encourages virtual cryptocurrency investments in the EU (by eToro Europe Ltd. and eToro UK Ltd.) and the United States (by eToro USA LLC), which are highly volatile, unregulated in most EU countries, lack EU protections, and are not controlled by the EU regulatory framework. Market risk, including the loss of principal, exists in all investments.

Pros

• Crypto trading opportunities are available all around the world.
• Copying other traders’ portfolios is possible.
• To begin, set low minimums.

Cons

• In the United States, there are few possibilities.
• Only 41 states have it.
• Supports fewer tokens and coins than the other platforms on this list.

Pros and Cons of eToro

7. Bitcoin IRA (Best Crypto Exchange and Platforms)

Bitcoin IRA isn’t like the other platforms on this list. Unlike most exchanges and wallets, you’re essentially exchanging currency and must pay taxes on your profits .

As a result, Bitcoin IRA combines the best of both worlds: a crypto wallet and exchange, as well as an IRA. This means that any earnings you make within the account are either tax-free or tax-deferred.

Check This Also: How to Convert Bitcoins to Cash-(USD, EUR, INR)

Pros and Cons of IR

Pros

• Invest in cryptocurrency through your individual retirement account (IRA).
• Possibility of earning income on your cryptocurrency in your IRA
• Options with high levels of security

Cons

• Fees that are too high
• Minimums that are extremely high
• Supports fewer tokens and coins than the other platforms on this list.

8. Crypto.com

Crypto.com is one of the most popular and rapidly expanding cryptocurrency exchanges. It’s situated in Hong Kong, but it provides a lot of help to consumers in the United States.

Right now, you can choose from over 90 tokens and coins around the world, as well as 50 tokens and coins in the United States. In addition, their crypto savings accounts have competitive rates.

The one big disadvantage is that it is now only available as an app; there is no desktop platform.

Check This Also:- List of Best Crypto Exchanges-Top Crypto Exchanges and Bitcoin Trading Platforms

Pros and Cons of Crypto.com

Pros

• A large number of coins and tokens are supported.
• Interest is paid weekly on crypto savings.
• You can link your account to a debit card.

Cons

• Fee structure is complicated.
• There is no desktop support, only app-based assistance.
• Customer service is limited.

9. Binance

A fantastic way to get started with cryptocurrencies like Cardano or Neo. Although not as user-friendly as some of the other sites on this list, they do offer one of the most comprehensive trading platforms available. They do offer a competent mobile app, but it’s not as easy to use as the desktop version, and we’ve been disappointed with it. Binance is a good place to start.

In comparison to the international version of Binance, Binance.us has a limited number of coins and tokens to invest in.

Check This Also:- How to Buy Bitcoin in India

Pros and Cons of Binance

Pros

• A large number of coins and tokens are supported.
• Transactions are completed quickly.
• Fees are low.

Cons

• In comparison to the rest of the globe, the United States has limited options.
• Not all 50 states have it.
• Customer service is limited.

10. Hodlnaut

Check out Hodlnaut if you’re seeking for a cryptocurrency trading option. Hodlnaut is a cryptocurrency-based savings and lending company that focuses on Bitcoin and a number of stablecoins.

Using their platform’s saving and lending options, you may earn up to 7.46 percent on your bitcoin and up to 12.73 percent on your USDC right now.

Pros and Cons of Hodlnaut (Best Crypto Exchange and Platforms)

Pros

• Interest is paid on holdings at a high rate.
• There are no requirements for a minimum balance.
• When you invest $1,000, you will receive a $20 bonus.

Cons

• Only BTC, ETH, DAI, USDC, and USDT are supported.
• Support is headquartered in Singapore, therefore response times may be delayed.

Check This Also:- 10 Best Cryptocurrency Exchanges To Buy Any Altcoin In The World

How to Invest in Bitcoin

Trading in BTC is similar to investing in stocks, except that the daily swings in BTC make it significantly more volatile. The following are the steps to begin investing in stocks:

• Open an account with a brokerage business that accepts cryptocurrency investments.
• Transfer money from your bank account to your brokerage account.
• Invest in a stock with money you’ve already put aside (cash balance).
• After that, you can sell the stock for a profit or a loss. The money is returned to your bank account.

The key difference with BTC is that instead of stock, you buy BTC or another cryptocurrency.

In most circumstances, the aforementioned flow applies to BTC, however it varies depending on the exchange or trading platform. You can buy BTC with your credit card or by transferring funds from your bank account in some situations.

You must send BTC directly to other platforms. This is referred to as a BTC direct deposit.

We’ll go over how US people can invest in Bitcoin. Because of variances in laws and regulations, the approaches varies from country to country. To authenticate your legitimacy, some countries request more personal information than others.

Check This Also:- The 10 Best Bitcoin Earning App

How To Deposit USD To Buy Bitcoin And Crypto

Coinbase is one of the most popular services, and the process is simple. This method will be followed by some of the websites listed below. We use Coinbase because you get $5 just for signing up.

You sign up for a Coinbase account and then link your bank account or credit card to it. Then either transfer dollars from your bank account or use your credit card to buy BTC. BTC purchases made with a credit card are the most expensive.

The process of purchasing BTC entails entering either a USD or a BTC sum. After that, the website will convert the other currency.

If you enter 500 USD, for example, the website will fill up the BTC side with 0.0357. (or what ever the current BTC exchange rate is).

Click to purchase your BTC once you’ve filled in the amount. While credit card transactions are the most expensive, they are also the quickest to execute.

It can take up to a few days for a bank account to be opened. Keep in mind that the currency rate at the moment you bought BTC will apply.

You’ll miss out on the rise if BTC rises to 1000 by the time your transaction is completed three days later.

What happens to the BTC you’ve purchased? After all, you haven’t put any money into it yet. Your bitcoins are stored in a digital wallet. Almost every exchange has its own wallet that you may use to store your BTC.

To return to the example of the brokerage, your cash balance is used to trade stocks. Your wallet contains BTC, which is used to exchange BTC.

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What about your USD (Best Crypto Exchange and Platforms)

BTC and USD can both be stored in your wallet. Your wallet will look like this if you deposit $10,000 USD and buy $5,000 USD in BTC:

5,000 USD

0.34 BTC

When it comes to cryptocurrencies, wallets are a hot topic of conversation. We won’t go into detail about them, but if you don’t want to utilise the exchange’s wallet, you can use a standalone wallet. One example of a standalone wallet is Electrum.org. This can be done on a PC, mobile device, or through a website.

A hardware wallet, such as LedgerWallet.com, can also be used.

You’re ready to invest once you’ve deposited funds with your preferred exchange and purchased BTC. Exchange trading platforms resemble brokerage platforms in appearance.

With the quantity of BTC to trade, you’ll have a chart and buy/sell buttons.

When trading BTC, you have the option of exchanging it for other cryptocurrencies, which is another way to sell BTC. Alternatively, you can convert from another cryptocurrency to BTC, which is the same as buying BTC.

Check This Also:- 10 Top Cryptocurrencies-To Buy Long- Term Investment

Direct Deposit Of BTC

If the exchange doesn’t enable you to buy BTC using a credit card or by transferring cash, you can deposit BTC from another exchange.

This is accomplished by obtaining your wallet address from the exchange in question. Then enter it, together with the quantity of BTC you want to transfer to the new exchange, on the source exchange.

The swapped BTC takes a few minutes to arrive in the destination wallet after the transaction is completed.

Check This Also:- Satoshi to USD and BTC Converter

Best Crypto Exchange an Platforms

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