Investors have long been looking at newer investments instead of traditional forms available in the market. The arrival of virtual currencies and crypto trading, new options have indeed arrived. When you start out in crypto trading and currency, you might not be sure of the most reliable platform to trade on. This is where a cryptocurrency exchange can be of help. Such exchanges allow traders to purchase and sell cryptocurrency or coins via these platforms. According to data from Coinmarketcap, a crypto pricing tracking site, there are 235 cryptocurrency exchanges at present.
A cryptocurrency exchange is where you make purchases, close sales, and convert several cryptocurrencies or non-fungible tokens. Therefore, looking at the best cryptocurrency apps or exchanges today is important.
Cryptocurrency trading is still non-regulated. As a beginner, you must be able to distinguish between trustworthy cryptocurrency exchanges versus non-reputable ones that might be fraudulent.
Take a look at the top factors to check on when choosing a cryptocurrency exchange app
- User authentication norms
- Security and safety verification processes
- Exchange rates for cryptocurrency in real-time
- Tradable coin volume allowed
- Actual exchange liquidity on the platform
- Regulatory norms and insurance details
- Reliable customer support availability
The 6 best crypto exchanges and apps of April 2023
Besides the factors mentioned above, the context of the competitive prices on each platform is vital. Similarly, it is important to consider the speed on offer for trading or transactions on these exchanges. Take a look below-
1. Binance
Binance has topped the charts for best cryptocurrency exchanges over the years since its launch in 2017. It also ranks as the largest crypto exchange globally in terms of trading volumes daily. In the context of blockchain and cryptocurrency infrastructure, the platform ranks as the largest.
Pros
- Huge portfolio of crypto products and services
- Dedicated customer services
- Low trading fees compared to other apps
- App-based operations
Cons
- Non-friendly for beginners
- User interface is not smooth
- Compliance-linked issues
- Frequent need for app updates
2. Crypto.com
Crypto.com lets you trade with around 200 cryptocurrencies at affordable fees and also offers discounts if you lock its own token, Cronos. You can purchase, sell, and even store cryptocurrency on the app, which is smooth to navigate.
Pros
- Availability of staking on multiple crypto coins
- Offers to earn bonus in the form of coins
- Smooth interface
- Dependable customer service
Cons
- Slow user approval process with multiple identity verifications
- High fees for card transactions
- Limited customer support via texts only
- Not very beginner-friendly
3. Coinbase
A leading digital currency platform and wallet that allows traders to transact with the latest currencies such as Bitcoin, Litecoin and Ethereum. In terms of trading volume, Coinbase is the largest in the US.
Pros
- Diversity in crypto coin availability
- High security levels
- Easy to understand model
- Revenue availability for idle coins
Cons
- High commission amounts
- Slow customer support service
- High transaction fees for withdrawals and deposits
- Complicated fee structure
4. Uphold
Best crypto trading learning app for beginners: TradingLeagues
A popular platform for digital assets, Uphold simplifies the purchase and sale of Bitcoin and similar cryptocurrencies. It also facilitates a seamless transfer of assets. There are more than 260 cryptocurrencies available on Uphold. The app is specially known for its ‘Anything-to-Anything’ feature, which enables direct asset conversion via one step.
Pros
- Ease of trader verification
- Ease of money transfer
- User-friendly interface
- A variety of cryptocurrencies are available
Cons
- High fees for withdrawals and transactions
- Limited customer support
- Unavailability of data section for info on coins and assets
- Occurrences linked to sudden freezing of trader deposits
5. eToro
A leader in the fintech space, eToro is a big name in the social trading networking domain. There are many registered users and a vast range of innovative investment and trading tools.
Pros
- Easy interface and intuitive app
- Beginner friendly
- Copy portfolio feature to help clone investments
- Features news pieces for crypto and stocks
Cons
- High swap and commission charges
- Unavailability of all stocks on the exchange
- Does not support complex orders or detailed analytics
- No portfolio breakup is available on the platform
6. Kraken
Kraken ranks among the longest-standing platforms for digital assets in the world. It is one of the very first exchanges that offers spot trading along with a margin. Besides this, it offers parachain auctions, regulated derivatives, staking, and index services. Currently, 10 million institutions and traders trust the app.
Pros
- Top notch security
- Low fees
- Easy to navigate
- Ease of export to wallet
Cons
- Account opening takes time
- Extensive documentation involved
- The learning curve on the app might appear confusing
- Transfer speeds might get slow at times
With the many different crypto exchanges available, make a choice based on your priorities and interest areas in crypto trading. Compare among the best to make a final choice.
Best crypto trading learning app for beginners: TradingLeagues
For beginners in crypto trading, the right exchange can make life easy. The right platform lets you practise while shuffling through coins, analysing the market and then making a trade.
TradingLeagues offers exactly that to crypto traders. With its wide variety of leagues, you gain an idea of how to handle varied coins and how you can trade in the best ones available.
Target Leagues
Win big by trading with coins on the app. Forecast the right price and begin your journey of crypto wins.
Battle Leagues
Choose between a couple of crypto coins under this league. Pick the one that you predict will outperform the other. The multiplayer games have attractive rewards that let you win by betting on the right coins.
Selection Leagues
Create a solid portfolio based on how you expect the selected coins to perform. Win big by making a portfolio that stands out.
Classic Leagues
Play these games to win a prize pool and learn how the coins fare in terms of price movements. You win by competing with others for live crypto trading for a definite time period.
Conclusion
Get better at crypto trading by understanding the crypto market in depth. Research the market trends, news and follow technical charts to know how crypto price moves. Compare the trends and price movements among various coins to see what best suits your investment targets.
For so much and more, head over to TradingLeagues. This fantasy crypto stock market game app allows you to practice crypto trading via games around the clock.
TradingLeagues app is a must-have for crypto enthusiasts. Go ahead and sign up to get notified when the app goes live.
