Cryptocurrency trading attracts more and more people from all over the world every year. The stories of quick million profits boost interest in this area of activity, thus, attracting new market participants. This article details on TOP-5 Analytical Platforms for Ethereum Movements.
As is known, where there is demand, there is supply, so nowadays there are more than one hundred platforms for trading digital assets. Each of them has its advantages and disadvantages. So today we will figure out how to choose the right exchange, provide a list of trusted sites, as well as give some recommendations for beginners.
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How to choose an exchange for trading?
Choosing a platform for trading digital currencies is a rather important task that should be treated with full responsibility. Fortunately, there is plenty to choose from in our time. As consumers, we only benefit from increased competition in this area. The fact is that the struggle for the client speeds up and encourages the evolution of cryptocurrency exchanges.
Criteria for site evaluation
- Reputation. Before registering on any platform, you should study its history carefully. It is better to read reviews on forums concerning this topic. It is important to find out what real users write about withdrawing funds, resolving disputes, frequency of bugs, and other issues that can arise during the trading process.
- Trading volume. This is quite an important thing for you to pay attention to. The higher it is, the more popular the site.
- Reliability. There must be two-factor authentication on a centralized exchange. It is also important to find out whether any hacks took place on the site in the past. If so, find out in what way the team solved security issues.
- Commissions and fees. The main profit of any exchange comes from commissions for order execution. Each site has its conditions, and if you plan to engage in cryptocurrency trading on a daily basis, then you had better study this issue attentively.
TOP 5 cryptocurrency exchanges
Evaluation of a particular exchange is usually subjective. The point is that each trader has their own needs and priorities. We are going to present you with the most popular crypto platforms of 2021.
Binance is certainly the most popular cryptocurrency exchange in the world. It is a relatively young company that started its activity in 2017. The daily trade of the platform is near $30 billion. Binance offers all of the most popular cryptocurrencies and trading pairs, including BTC, ETH, DASH, LTC, XMR, and others.
It is the only exchange on our list that has a decentralized governance model. This platform does not store the personal data of its users. Private keys to wallets are only with the user at all times. From a security point of view, this is the best option of all. Almost all popular cryptocurrencies are available on the platform. You will find a convenient BTC to ETH chart, which updates in real-time right on the main page. If you want to trade cryptocurrencies anonymously and securely, then we suggest you pay attention to this platform.
It is a major online exchange headquartered in San Francisco. The platform began to operate back in 2011. A big advantage for the exchange is the ability to trade fiat currencies such as euro, dollar, Canadian dollar, yen, and British pound. There are more than 150 trading pairs totaling on the site.
As a matter of fact, the exchange has never been subjected to a successful hacker attack in the entire long history of its operating. Margin trading is available on the platform. However, many users point out that the Kraken exchange has a rather complex trading interface.
It is the most popular cryptocurrency exchange in the United States. It ranks honorable second place in the global ranking. Its daily trading volume exceeds $3 billion. It officially works with the American government. Besides, it is the first crypto exchange that has plans to become a public company. A preliminary estimate is that its value exceeds $100 billion. There are 50 cryptocurrencies and over 100 trading pairs available on this exchange.
The Huobi crypto exchange is not the most flexible, but one of the most convenient exchanges available today. Statistics say the daily volume on this exchange is one of the largest in the world (about $7 billion). The exchange offers a user-friendly interface, mobile applications, and support for API functionality. Support of its own tokens and their high popularity is also a valid reason to choose this exchange.
As you can see, the cryptocurrency industry is growing at a rapid pace. Thus, more and more new companies appear on the market. Each exchange is constantly evolving to attract new customers and retain old ones. Healthy competition is created, and progress does not stand still. Users can choose the platform that will suit their needs best. Moreover, you are not limited to using only one site, you may choose several at once for different purposes.