Another year has come to an end. Something we can all agree on is that 2020 has proven itself to be quite memorable, for better or for worse. The world of economics has certainly seen its ups and downs thanks to the COVID-19 outbreak. Cryptocurrency has also had its share of highs and lows. However, these rough periods ultimately did not detract from crypto’s good times. And what better way to close out the year than by shedding some light on those good parts. In this particular case, we will reflect on some of the best exchange platforms of the year.
So many options, so little time
Generally speaking, the launch of cryptocurrencies would pave the way for the development of an array of service apps and companies. Among these many service apps is ‘cryptocurrency exchanges’. These are platforms or third-party applications that give potential crypto investors the ability to buy, sell, or trade their cryptocurrencies. This exchange could be one of two formats: crypto-to-crypto or fiat-to-crypto.
Purchasing cryptocurrencies begins with finding the best crypto exchange for your personal needs. There is an increasing number of these crypto exchanges in development today. Because of this, many potential crypto investors are having trouble picking the best exchange to use. This article will help you in making a decision by highlighting the exchanges that shined in 2020.
Coinbase is one of the most popular and trustworthy crypto exchange platforms available on the web. It is also the world’s largest Bitcoin (BTC) broker. Unlike most of the other crypto exchanges, Coinbase provides fast deposit and withdrawal, state-of-the-art trading features, competitive fees, and numerous deposit options. According to the official website:
“Our mission is to create an open financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currency.”
Coinbase is among the easiest on-ramps to the world of crypto investing. Signing up and buying cryptocurrencies is a painless process, taking only a matter of minutes to do. Moreover, the platform has its own learning program that is beneficial in more than one way. Aside from being educational, it pays users cryptocurrency to learn more about how crypto works.
The exchange represents a fast and easy way for new users to buy many types of coins. Such names include Bitcoin, Ethereum, and Litecoin, among others. Coinbase provides support for customers in over 30 countries. Some examples are Canada, Australia, the United States, Singapore, Europe (excluding Germany), and the UK. It permits users to buy cryptos with fiat currencies, and as a bonus, the platform is simple to use.
Binance is a global cryptocurrency exchange with a platform that allows trading over 100 cryptocurrencies. Since 2018, Binance has carried the title of being the largest and best cryptocurrency exchange in the world. Specifically, when it comes to trading volume. The platform acts as an ecosystem consisting of a wallet, lab, exchange, clarity info, and other features. On top of being a cutting-edge crypto exchange, Binance possesses a native coin in the form of Binance Coin (BNB).
Besides a functioning website, Binance also has a platform that is quite user-friendly. Many consider it to be the best crypto-to-crypto exchange for those who are new to the crypto space. The exchange’s mobile apps also make it easy for beginners to use. In keeping with Binance’s simplicity, its web interface is easy to understand and use. Anyone can start trading right away on Binance with nothing more than an email address. According to CoinMarketCap, Binance is the largest exchange in the world.
Kraken launched in 2011 and since then has gone on to be one of the biggest Bitcoin exchanges, especially in 2020. Unlike a lot of other exchanges, this platform possesses the largest fiat currency exchange pair. It has a $160 million trading volume and also has a maker and taker fee of 0% to 0.26%. At the time of this writing, it supports the purchase of over 40 diverse cryptocurrencies. Moreover, a majority of them include the top cryptos available on the market.
Kraken is popular for being one of the most secure cryptocurrency exchange platforms. It is a platform that supports an abundance of users and charges considerably low fees. Moreover, it has tremendous features that novices and professional users can both benefit from.
The strength of eToro stems from its simple and clear-cut platform. Novices can sign up for an account in a process that takes no more than 10 minutes. Moreover, the account verification process functions in an intuitive manner. Upon opening an account, beginners will have access to an array of features. These include a simple order placement platform, clear commissions, and pricing information. On top of that, there is a busy social media network providing assistance for information about your trades.
eToro offers its users with financial and copy trading services that cut out the need for extensive research. Not only that but the platform has a good reputation and has a diverse collection of cryptocurrencies. Bitcoin, Litecoin, Ethereum, the list goes on.
KuCoin is one of the better and most popular cryptocurrency exchanges in the world. This Hong Kong-based exchange provides its users with an array of great features. These include low deposit fees, sturdy security, and anonymous trading. KuCoin has a modern vision and receives support from a secure platform. The exchange distributes 50% of the revenue to holders of KuCoin Shares, the platform’s native coin.
KuCoin also has a decent amount of volume. It allows users to buy Bitcoin and other cryptocurrencies with their credit cards. In addition, it offers the ability to lend USDT, BTC, LTC, ETH, XRP, and EOS as a way to obtain interest. Users can also hold other cryptocurrencies and earn staking rewards over time.