Ever since the release of the first-ever digital currency, Bitcoin, to the public in 2009, the Cryptocurrency world has become known to many people. With the increasing number of investors and traders in the Cryptocurrency market, it’s looking more and more like Cryptocurrency will transform the future of business and is slowly becoming the future of finance.
In 2009, research showed that the global market size of Cryptocurrency is at $754 million, and the report claims that the market size would reach $1.758 billion in 2027. Positive development like this sparks interest but also is getting a mixture of opinions from Cryptocurrency enthusiasts all over the world.
The Cryptocurrency market is a highly volatile one; an increase in profit from one day does not guarantee a stable earning for the next days as the values could go low in an instant. This is why preparing and possessing the right information on the different crypto platforms is an essential thing to do if you want to invest and have a successful trading career.
For the majority of newbies in the Cryptocurrency market, trading and investing is a difficult task and can be daunting too. With several serious concerns when it comes to the privacy and security of your data during transactions and losing your investments, it’s perfectly normal to feel lost and afraid. In addition, the fact that you cannot physically hold your assets like normal money, it’s completely understandable to be afraid.
On the positive side, similar to other things that need practice, Cryptocurrency is one field that requires doing research, studying charts, and having patience. The path that you’re going to take in your Cryptocurrency trading career hugely relies on the exchange that you’ll start your career with. While there are several great platforms out there to choose from that offer different benefits, it can be challenging to choose the platform that will either make or break your career.
Platforms for trading crypto have similar functions as online brokerage platforms do. There are a number of factors that you must carefully analyze before choosing to invest in one such as security, payment methods, supported assets and withdrawal terms and conditions. Some platforms also offer beginner and pro versions, this can also be considered if you are a newbie crypto investor.
To help you start your career on the right path, check out these five cryptocurrency exchanges that are great options for newbie investors.
Coinbase started in 2012 and has come a long way ever since, making it one of the largest Cryptocurrency exchanges in the market currently. Since the development of the first Cryptocurrency, many other Cryptocurrencies have arisen – some of these are successful enough that it’s almost at the level of Bitcoin, while some just failed to attract crypto enthusiasts and wasn’t able to prosper in the long run.
Coinbase has made it to the list of the successful ones that are continuously attracting investors and traders. It’s no wonder why this exchange has gained a huge number of consumers – 68 million verified users in over 100 countries, to be exact – because it offers unique features that come with trust since it’s already a well-established Crypto trading platform.
One of the most important features that newbie investors should look for is Security, and if you’re looking for an exchange with high-level security, Coinbase certainly won’t disappoint. Aside from its user-friendly and advanced features, this platform is also preferred for its additional security measures, making investors feel safe and confident when storing their funds.
Even though it is one of the biggest trading platforms in the market, Binance is certainly not one of the easiest platforms to learn quickly from. For investors who believe that experience is the best teacher, this platform is the perfect example of that. This platform provides descriptions and projections that can help investors make the right trading decisions.
This exchange platform is also the best choice for investors who are looking to diversify their investments and are looking for an exchange that offers multiple altcoins in their system. Binance platform has over 600 altcoins that are available for trading, and when it comes to reliability, this platform’s diversified system is incomparable to other platforms.
Aside from having multiple altcoins available, Binance also provides advanced tools and resources that make any investors life easier, making it very efficient for newbie investors. Even though the features this platform possesses are highly advanced and complex, the process of using it is beginner-friendly since it contains tutorials and educational resources that help traders understand – from basic Cryptocurrency terminologies to complex processes on how things work.
BitiQ Trading Platform uses a unique algorithm that associates Artificial Intelligence (AI) and Machine Learning in analysing the market pattern changes to come up with the most effective trading strategy. Cryptocurrency is known to be highly volatile, so coming up with a pattern or solution on how to take advantage of its volatility is extremely challenging, and this exchange is extremely helpful, especially for new investors.
Reviewing and studying yields better results, just like other aspects of life. Especially when it comes to Cryptocurrency, possessing appropriate knowledge, studying the price history values of any exchange, and planning your moves well is very important, especially if you are aiming to achieve the best possible results. BitiQ helps investors find the perfect timing to complete trades.
BlockFi offers more features than other exchange platforms, and it allows investors to lend Cryptocurrency and earn profit with interest on their assets. BlockFi allows investors to borrow against their assets by just directly selling their tokens and coins in the market. For investors who are planning to just simply hold their tokens, this platform is perfect as interest can be earned over time.
eToro is well-known since it has been around for quite a while in the market, based in the United Kingdom and throughout Europe. This exchange provides a massive list of Cryptocurrency assets for investors to purchase, sell, and trade on their platform. What caught the attention of investors with this platform is that platform allows them to practise their trading skills and come up with a trading plan before diving into the real market using their real assets.
To make the most out of each Cryptocurrency exchange platform, it’s important to master the things to know before investing in Cryptocurrency to avoid having a rough patch and be part of the list of investors who are unsuccessful in the Cryptocurrency trading world. It’s important to know and understand the different Cryptocurrencies, how they are stored, and observe or study their price history to know how to take advantage of the market’s volatility and use it to your benefit.