How do you identify the best cryptocurrency trading sites? Which trading app is the best cryptocurrency trading site for beginners? Is it the popular Binance, Coinbase, Kraken, or Poloniex ? What makes a Cryptocurrency Trading Platform the best platform?
Here’s how to identify the best cryptocurrency trading sites out there.
According to trade experts, the best cryptocurrency trading site must have all the following features:
Its simplicity. Is the interface user friendly? Can users, especially beginners, understand and navigate it easily?
Strong Security. You have to consider security when choosing a Cryptocurrency Trading platform. It must be safe to use. Does it have 2-factor authentication? Is the wallet secured enough not to get hacked?
It must have 24 hours customers support. How effective is their customer support? Can it answer or solve any issues you might encounter using the app?
Advanced Matching system. When you want to sell or buy cryptocurrencies, how quickly do they match you with someone who needs your service?
Shared Liquidity. Is the Liquidity of exchange high so that orders are filled quickly once opened?
They have a high volume of trading pairs accessible for users.
Why you might not get all these features in all the cryptocurrency trading sites, we have quite a number who can boast of all these.
For these review, Binance, Coinbase Kraken, and Wazirx.
The Best Cryptocurrency Trading Sites
According to investors, Kraken is one of the best cryptocurrency trading sites for beginners. You can easily buy, sell and convert assets such as GBP to USD, including cryptocurrencies free of charge. It is a friendly app, visually appealing and easy to use.
Kraken was released in December 2020, and it has over 1,000,000 downloads on Google Play Store.
Easy to use. Both new investors and professionals can navigate the app easily.
Kraken is a trusted and secured exchange. It has fingerprints login and 2-factor authentication. When a user tries to login, the system validates the fingerprint and password, making it impossible for an unauthorized person to access the wallet.
Intermediate verification is swift. No stress; within minutes, you are good to go.
Supports bank transfer and credit cards for selected countries.
Zero charges to buy and sell crypto. How many exchanges can do this?
Excellent customer support. If you have any complaints, you can chat with an actual human and not a robot, as you get from their competitors.
They only list expensive coins like Bitcoin, Ethereum, Binance Coin, and Solana, making it impossible to trade for an average man or a beginner.
No PNL tracker. It is impossible to track your profit or loss while trading with the app.
Limited features. You can not stake your coins on Kraken mobile app except you use their website or pro version.
Not tradable coins. Apart from the expensive coins, many of the altcoins listed on their platform are not tradable.
They are not transparent. They do manipulate the market.
High fees. Although you can do some transactions for free on Kraken mobile app, they charge very high fees for withdrawing and sending crypto. To avoid purchasing based on spread, you may consider the Kraken pro app.
Poloniex Crypto Exchange
Poloniex is a trusted and reliable exchange. It is one of the best sites to trade cryptocurrency, although it is often underrated and overshadowed by the big names. It is simple to use, straightforward and suitable for beginners due to its user-friendly interface.
Poloniex was launched in July 2017, and it has about 500,000 downloads on Google Play Store.
Poloniex is secure and fast. You can trade, swap or transfer your coins from one exchange to another in seconds. No glitch.
Strong Security. Poloniex unarguably has strong security. Users can be assured that their assets are safe.
Easy to use. Whether you are a beginner or a pro, you will find the app very easy to use.
They have an excellent support team. Once you log a complaint, a member of their support team handles your complaints almost immediately.
A high volume of coins. Poloniex supports over 100 coins, including quality coins like Bitcoin, Ethereum, Binance Coin, DogeCoin, and Tron.
Low fees. Poloniex is arguably one of the exchanges with the lowest fees. They charge just a small percentage for any transaction you do on the app.
Easy transaction. You can buy, sell and swap coins easily.
Very fast. Unlike some apps that are relatively slow to trade coins or swap a coin for another, Poloniex happens to be one of the fastest trading sites out there.
Supports bank or credit card transfers.
You can chat with other traders on the app. Users can discuss market trends with other users.
Plenty of features to enjoy. There are so many features for users to explore on Poloniex, which contribute to the overall user experience.
Low Liquidity. Because of its low Liquidity, it is difficult to convert assets to cash. Sometimes an open order might take days, weeks and even months to get filled.
One thing I like about Poloniex exchange is that they want their users to have a good experience using the app. Their development team wants Poloniex to be the one-stop cryptocurrency trading app for their users, and that’s why they are consistently working hard to fix bugs and improve the app. Each update comes with a major improvement to meet users need.
Wazirx is one of the best cryptocurrency trading sites in India. It was developed to meet Indian investors’ needs. You can buy and sell Bitcoin and altcoins easily with INR through UPI or IMPS. Because of its user-friendly interface, beginners can trade crypto without any hassle.
The app was released in July 2018, and it has over 5,000,000 downloads on Google Play Store.
Wazirx makes it easy for Indian residents to trade cryptocurrency easily. Since Binance acquired it in 2019, users can link their Wazirx account to Binance and trade Usdt.
Low fees. It is one app that charges a meager fee to buy or sell coins as opposed to its competitors.
Automatic matching system. WazirX P2P platform helps a user convert his money to crypto instantly, and it acts as an escrow to ensure that transactions are secured between buyers and sellers.
High Liquidity. They have the highest Liquidity in the INR market when compared to their competitors.
Fast customer support team. Complaints are resolved quickly by their efficient customer support team.
Fast and easy withdrawals.
Limited coins. Only a few coins are listed on Wazirx.
Limited features. Wazirx lacks some of the major features available on other platforms.
It has a limited payment option.
Charges high fees for deposits made through Mobikwik wallet, which is the only wallet supported by Wazirx.
It has a limited option to buy and sell coins. Although the app claims there is no limit to buying and selling coins. There’s a limit.
Do not support popular banks. One of the limitations of Wazirx is that it does not support mainstream banks; thus, users can not fund their accounts directly from their banks.
No PNL tracker. It is impossible for users to track their profits or losses when trading.
Bittrex Global, commonly called Bittrex, is one of the most high-level cryptocurrency trading sites. It has some good coins lacking in some other exchanges. Beginners will find Bittrex mobile app very easy to use once they have a good understanding of how to use the app. It is safe to use
It was released in December 2019, and it has over 500,000 downloads on Google Play Store.
Bittrex is safe to use. You can fund your account and trade crypto without the fear of losing your money. Although its interface needs a lot of work, beginners will find it easy to use. I usually recommend Bittrex Global for U.S. residents as their policy is in line with U.S. financial regulators. Traders from other countries can still use Bittrex, regardless.
Bittrex has strong security. It uses fingerprint security, phone number verification and 2- factor authentication. Bittrex is considered safe to use because of its tight security.
Easy to purchase crypto. Users can buy cryptocurrencies seamlessly.
Good selection of Tokens. It is one of the exchanges that list the best Tokens.
Accepts bank and wireless transfer. You can fund your wallet with USD or EUR with your debit/credit card and also through bank transfer.
Zero charges to deposit and withdraw USD. Users enjoy a fee schedule. Investors benefit from a fee schedule that is unique to Bittrex. This fee schedule improves as you trade cryptocurrencies with the app. The more you trade, the more you save.
Difficult to withdraw. Bittrex makes buying and depositing of cryptocurrencies very seamless; however, users face a hurdle while trying to make withdrawals. This limitation has discouraged many potential traders from using Bittrex.
Terrible customer support. They have only a few customer support teams, so most of your complaints are handled by robots.
No price alert notification. Users do not get notified when the price for certain coins goes up.
High fees. They charge way too much to transfer funds from your bank to your wallet. For instance, Bittrex collects 33% from all the withdrawals you make on the app. However, Bittrex does not charge any fee for USD deposits and withdrawals.
No trade pairs for some coins. There are no trading pairs for some coins, although the exchange allows you to deposit these coins.
A good thing about Bittrex is that its development team listens to feedback. So, you can help make Bittrex the app you want it to be by offering suggestions.
Is Coinbase the best cryptocurrency trading site? We carried out research on the best cryptocurrency trading sites, and 50% of traders chose Coinbase app because it is easy to use. If you are a beginner and you are looking for an app that is both user-friendly and safe to use, then Coinbase is your go-to trading app.
Coinbase was released in March 2013, and it has over 10,000,000 downloads on the Google play store.
You can trade or invest in cryptocurrencies on Coinbase. It offers a wide variety of products, including cryptocurrency investing, an advanced trading platform, and also custodial accounts for institutions. No doubt, Coinbase would provide you with a better trading experience as a beginner. Let me reiterate again that its interface is very user-friendly, and this makes it easy for anyone to buy any crypto you want. Coinbase provides a good entry point for buying Bitcoin or other cryptocurrencies.
Another plus about Coinbase is that it’s the best exchange app available for U.S. residents who wants to follow the KYC guidelines implemented by U.S. financial regulators.
It has easy to use interface. There is no need for an operational manual; users can navigate the app as every instruction is straightforward.
It is safe and secure.
Coinbase makes buying and selling cryptocurrencies very easy.
They have a high volume of trading pairs available for users.
You can fund your wallet directly from your bank.
It has too many fees. This is a major drawback of Coinbase. They charge for every transaction done on the app. A high fee when you buy a coin and when you sell; when you make deposits and when you make withdrawals; when you make a transfer to another wallet or when someone transfers to your wallet; a potent fee and also take a percentage of your profits.
Limited features. The features on Coinbase is limited when compared to their competitors. If you need more features in terms of charts and indicators, download Coinbase Pro.
Poor customer support. There is no Live chat, and users have complaints that are never resolved.
Also, there’s no price alert notification for altcoins except for BTC, ETH and LTC.
No PNL track and cost basis. You can’t keep track of your profit or loss.
It does not have an advanced matching system.
Depending on your location, I usually recommend Coinbase trading app for beginners because it is easy to use. You can navigate through the app easily– you don’t need to read a manual before you operate the app. Experts advise that you transfer money into it in bits (smaller amounts) to reduce the fees. Some users recommend using the pro version to buy cryptos as the fees on Coinbase are high. Another app like Coinbase, a close competitor in the USA, is Crypto.com.
Crypto.com is one of the best cryptocurrency trading sites in the U.S. The app is highly secured, simple to use and makes buying, selling and transferring cryptocurrencies easy for beginners.
It was developed by Crypto Technology Holdings Limited and was launched in August 2017.
One of the things making people everywhere embraces Crypto.com is because it has a real use case. The Crypto.com blockchain is built to enable transactions between customers and merchants globally. It powers the Crypto.com mobile wallet payment solution and the system’s trading and financial services offerings.
Crypto.com offers a prepaid Visa card that functions like a rewards debit card and can more easily allow users to spend their crypto holdings. Everyone can have the card; however, users who purchase and hold its native cryptocurrency known as CRO earn the most.
It is highly secured.
Very fast. The speed is second to none.
Excellent customer support. They resolve issues quickly and will literally lead beginners by the hand.
Supports banks and debit card transfers.
High-interest rates. One of the benefits of using Crypto.com is its high-interest rate. When you save your coins or loan them out, they reward you highly.
Over 150 cryptocurrencies are listed on the app.
Metal debit card/Visa card. As a user, you can convert all your fiat currency from your bank and use the Visa card to make any purchases as you would do with your regular debit card.
You enjoy lower trading fees and more rewards on the Crypto.com Visa card when you hold large quantities of CRO.
Users enjoy a rebate for certain services like Spotify, Netflix, and Airbnb; 1% to 10% cashback on all purchases.
You get an instant CRO reward each time you use the Visa card to make any transaction and free ATM withdrawals when you lock/hold a large quantity of CRO. Do you know of any bank that gives 1% back when you use their debit card?
Selected countries can easily use their credit cards to purchase cryptocurrency.
Gift cards purchase is quick and easy with excellent rates.
It’s easy to stake and earn crypto, plus you earn more when you’re using their Visa card.
Tax support is available.
Inflated prices. Their prices are inflated, especially when compared to other platforms.
Slow verification. To get verified on Crypto.com takes time, and it’s exhausting.
However, my highest cryptocurrency trading site is Binance.
Binance is the best cryptocurrency trading site you can think of. The Binance app’s mobile-first design lets you switch between Lite and Pro interfaces with a single tap. It is an ‘all in one app.’ Whether you are a beginner or a professional, Binance got your back.
It was released in October 2017, and it has over 10,000,000 downloads on the Google Play store.
Binance offers a variety of unique features, which makes cryptocurrency trading an exciting experience for its users. You can stake, hodl or save your coins on Binance and earn money. Everything you need is on Binance; that’s why I call it the “all in one” cryptocurrency trading app.
I always recommend Binance to only non-U.S. citizens and residents. U.S. citizens and residents should install Binance.US App. Binance. U.S. App is tailored to meet the needs and requirements of U.S. financial regulators.
I should warn you that you won’t find all the unique features available on Binance mobile app on Binance.US; nevertheless, there are plenty of features available for your needs.
It is safe and secure. Your funds are protected by Binance Secure Asset Fund for Users (SAFU Funds). No worries, Binance got your back.
Lower fees or charges. Binance has the lowest fee you can’t get from any other app. They charge low fees for purchases and a decent fee for withdrawals. Just a small percentage. Nothing significant.
Advanced Matching system. Binance P2P platform matches a buyer to a seller within seconds of placing an order. Through its crypto escrow services, it ensures that transactions are secured between users.
High Liquidity. Unlike other cryptocurrency trading sites where Liquidity is low, making it impossible for orders to get filled immediately, Binance has high Liquidity. Once you place an order, it gets filled within seconds.
24/7 live chat Customers Support. I do not want to boast, but I must say that Binance customer service is second to none. I mean, it is top-notch. You can access 24 hours live chat customer support in 8 different languages. Plus, you don’t have to log the same complaint over and over again to different agents like Coinbase will make you do.
Before a coin gets listed on Binance, they ensure that the coin has a future. It has a purpose they are trying to achieve over a period of time. It has to have a used case– utility for backing a project such as Defi, Cefi, Tokens, memes and charity.
So many features to enjoy. Apart from the Binance academy, information hub, blog and Futures, Binance has recently introduced some unique features such as Binance Staking and Savings that allow users to earn money while they hold cryptos. Up to 5% interest rates for stable coin.
They have a high volume of trading pairs available to users. Binance supports over 200 cryptocurrencies, including Bitcoin, Ethereum, Link, Tezos, Cardano and Binance Coin. No other app supports these many cryptocurrencies.
Price alert notification. If you want to be alerted when the price moves on certain coins, you can set a price alert.
API management. Data can be pulled from Binance and interacted with external applications. Users can view their current wallet and transaction data, make trades, and deposit and withdraw their funds in a third-party program. What other cryptocurrency trading sites can you find this feature?
PNL tracker. With Binance, you can keep track of your profit and loss, and it can either be realized or unrealized.
Selected countries can fund their wallets directly from their banks.
Complex interface. Unlike Coinbase, Binance mobile app is not easy to use. It is too busy and complex to navigate for beginners. However, the lite version can always serve beginners’ needs.
Your complaints might not be resolved within a day due to their many users. Remember, it is the most popular and largest exchange, and one million people are logging their complaints every hour.
Intermediate verification is exhausting. In all honesty, it might take months to verify your means of identification on Binance.
The reviews say it all.
I took a look at the reviews on Google Play Store, and there were plenty of five-star responses. There were so many positive reviews compared to Coinbase and other exchanges. What more convincing do you want?
Another app like Binance is Gate.io. This app which was released one month after Binance, has a design like Binance. Gate.io’s interface is exactly like Binance. It is a popular exchange but not as popular as Binance.
It has over 1,000,000 downloads on the Google play store.
We all love Gate.io because it makes investing in cryptocurrency fun. There are so many coins available to trade on the app. Coins that you can’t find on other popular platforms, not even on Binance, are all available on Gate.io.
Safe and secure. Gate.io is a trusted exchange.
Fast verification process. If you have good lighting, the verification process is less than 5 minutes.
Keeps PNL track. Gate.io keeps track of your purchase price, your profit and loss, all in one view.
It offers many tiny coins that are hard to find in other exchanges, and it has the most coins available for U.S. residents.
Live chat. Users can chat with other users and share market information.
So many features to enjoy. You can loan, save, stake, or hodl cryptocurrency and earn interest up to 100% depending on the coin.
Customer support is good enough. Their customer support team is not exactly what I will classify as excellent, but they are good enough.
Less advanced P2P trading. If you want to make a purchase on the app, it is almost impossible to find a buyer. Thus, you have to transfer USDT from other wallets to Gate before you can carry out your transaction.
Low Liquidity. The Liquidity in Gate.io is low, making it impossible for orders to get filled immediately you place an order.
So many adverts. You have to wait for ads to load before you can gain access to your account.
Very heavy. The app is so heavy and takes time to load.
High charges. They charge very high to deposit, withdraw and transfer cryptocurrency from one wallet to another. Plus, they don’t have a fixed amount.
Complex interface. Like Binance, Gate.io,’s interface is too busy and difficult to navigate.
No price alert or transaction notification. You won’t get notified when the price moves up for certain coins or when a transaction was successful.
Best Forex Broker to trade cryptocurrency
If you prefer trading with a forex broker, I will recommend Crypto rocket.
Cryptorocket is a cryptocurrency and forex trading platform that is safe, secure and easy to use. This broker offers a low minimum deposit of just $10. currencies, 35 cryptocurrencies, 64 stocks, and 11 indices.
It was launched in 2018, and it has over 10,000 downloads on Google Playstore.
One thing that makes Cryptorocket stand out among its competitors is its same-day withdrawals for credit cards transactions. It
offers advanced charting tools as well as market news and analysis to help its users maximize their returns and trade with confidence. Users can always conduct a detailed analysis of the market through the Detail screen before trading.
Safe and secure. All customers funds are kept in segregated accounts.
Easy to use.
Zero deposit and withdrawal fees.. 24/7 live chats support, including emails and callbacks depending on your location.
Fast withdrawal. Withdrawal takes minutes, no delay.
Fast order execution.
Low minimum deposit. You can open a trade with just 10 dollars. Not many brokers allow you to trade with such low capital.
Over 40 pairs of cryptocurrencies are available to trade.
Alerts and Price notification. Users can set price alerts or notifications to know when the price of coins goes up.
Accepts limited methods of deposit. While their competitors accept a range of payment options, Cryptorocket only accepts wire transfers, credit and debit cards and Bitcoin.
One account type. It offers only one account type to its users, the standard CryptoRocket Account, with high leverage of up to 500:1.
It is not regulated. Thus, it does not accept U.S. residents as clients except through VPN.
Not compatible with Meta trader 5. You can only use Cryptorocket with meta trader 4. O
A weak educational framework. I think its educational framework and offering are weak when compared to some of its competitors.
Funds are not insured.