Bitcoin and other cryptocurrencies can be traded through trading platforms and crypto exchanges. Trading is one of the most common yet fastest methods to make money by investing in cryptocurrencies. Let us discover the top 5 crypto exchange to trade bitcoin, and if you want to improve the trading skills. Read here for ways of making money.
Binance is one of the most popular and largest bitcoin trading platforms that trade bitcoin and other digital currencies. The headquarters of Binance is in Malta as of now, but it was instigated in China. Moving its headquarters to Malta is because Malta is the most crypto-friendly country across the world. Binance was introduced back in 2017 and is a comparatively new platform, but it has managed to provide excellent customer support, trading options, and utmost security to users’ funds.
It has become one of the best trading platforms that provide great options and helpful tips to trade digital assets, and Binance is recognized as one of the top five trading exchanges all across the globe.
One of the top-notch and top-rated exchanges across the world is Coinbase. Coinbase is a top-rated exchange because its main motive is to provide security to its users’ funds. Coinbase deals only in specific cryptocurrencies and allows users to trade only limited digital coins. Coinbase has some serious safety and quality standards, which is why the expansion of this trading platform is slow.
There are around 33 countries across the world that have Coinbase. It has been found that Coinbase is the first regulated crypto exchange that allowed bitcoin trading, and it has now become a big part of their trading volumes.
Cex.io is the most genuine and most aged bitcoin trading platform that operates in nearly all countries. Cex.io was established back in 2013 and is one of the crypto exchanges that apply Anti-Money Laundering policies and Know Your Customer standards. Applying both these policies qualify Cex.io as the most genuine and safest crypto trading platform.
Kriptomat is the most-user friendly bitcoin trading platform that is originally a creation of Slovenian crypto space. Kriptomat has issued its operating licenses by an Intelligence Unit that allows Kriptomat to provide some ultimate services. This bitcoin trading platform can exchange virtual currencies for fiat currencies and follows all the regulatory compliances, including Anti-Money Laundering and Know Your Customer policies.
Kriptomat deals in 17 cryptocurrencies and allows users to exchange and trade those cryptocurrencies that can be converting to and from fiat currencies like Euros. The exceptional thing about Kriptomat is that it is available in more than 20 languages, making it the best choice for most bitcoin traders.
Kraken is a crypto exchange based in Europe and allows the exchange of a wide range of fiat currencies to bitcoin trading. Not only fiat, but it also allows crypto exchanges to trade pairs. Kraken is the best crypto exchange in terms of security as it offers high-security protocols, including PGP/GPG encryption, multi-factor authentication, and more.
There are many more crypto exchanges and trading platforms that allow users to trade bitcoins and other cryptocurrencies, but this is a list of the top five exchanges that are best for you.
Common Terms used in Bitcoin Trading
Volume: Volume is a term that is used to correspond to the amount of bitcoin that is traded within a specific period, say a week or a year.
Limit order: A limit order is a market order that enables traders to buy or sell cryptos at a precise price. For instance, if, as a trader, you have requirements for your order, and if that requirement isn’t met, the order will be unfulfilled.
Bitcoin price: Bitcoin price in bitcoin trading means the price that traders last traded on a particular crypto exchange. There are no standard prices of bitcoin in comparison to fiat currencies, and each exchange has a different price set for different cryptocurrencies.
Order Book: An order book is a market register that records all the purchases and sales of bitcoins. The purchase orders correspond to bits made through particular buyers of crypto tokens. In contrast, the sell orders are often known as asks representing the asking price of the seller for digital assets.
Maker and taker fees: When you trade bitcoin, you’ll get to hear about maker and taker fees that traders need to pay while trading bitcoin and other cryptocurrencies. The maker is the seller of the digital asset, whereas the taker is the buyer.