Top crypto exchanges and trading platforms in Feb 2023

cryptocurrencies

Although cryptocurrency has grown in popularity in recent years, only a minority of Americans have traded it. Some of the most popular cryptocurrencies are Bitcoin, Ethereum, and Dogecoin, all of which have seen a lot of movement with prices going up and down. Attractiveness for dealers? The potential to make big bucks from the volatility of these highly speculative assets.

Traders are increasingly able to gain access to cryptocurrencies. New exchanges and trading platforms have been launched in response to widespread interest in cryptocurrencies. You may already have an app on your phone that you can use to trade. But other apps and exchanges give you access to a wider range of cryptocurrencies (there are thousands of them) or offer other benefits like lower costs.

Here are some of the best apps and exchanges for cryptocurrency trading and some key highlights You may need to know.

The best cryptocurrency exchanges and apps as of February 2023

The following platforms include specialized cryptocurrency exchanges, online brokers, and cash payment apps. We’ve included the prices and number of coins you can trade so you can get an idea of ​​what each app or exchange has to offer.

If you’re only trading the largest cryptocurrency, Bitcoin, might not make sense with an app that offers dozens of other coins. On the other hand, if you want to trade what’s hot, consider an app or trade with more variety.

Bittrex

Bittrex is an attractive option for traders because of its simplicity and cheap fees, especially for those trading large volumes.

If you trade less than $50,000 every 30 days, you’ll pay between 0.25% and 0.30% commission, but commissions drop quickly when you trade big dollars. Cryptocurrency enthusiasts will also appreciate Bittrex’s offering of around 100 cryptocurrencies to trade.

Here you will find the most popular coins, including Bitcoin, Ethereum, and Dogecoin, as well as lesser-known lists.

Cost: Fees start at 0.35% and drop dramatically for high-volume traders.

Coins available for trading: around 100 coins including Bitcoin, Ethereum, Dogecoin, and Litecoin.

Binance.US

Binance.US, the American branch of the largest organization Binance, is one of the best cryptocurrency exchanges due to its low transaction costs. Additionally, high-net-worth traders have access to leverage trading, enhancing their purchasing power (and risk). If you use Binance’s internal currency, BNB, to pay your transaction fees, you also get a 25% discount.

You can also trade over 130 different cryptocurrencies on Binance, you should have no problem finding the right one find especially if you only want to trade the most popular coins.

Cost: Free for Bitcoin and Ethereum, but fees are lower: regular coins start at 0.45% and less for high-volume merchants. There is a 25% discount if you pay the transaction fees with BNB.

Coins available for trading: 137 coins including Bitcoin, Ethereum, Solana, Cardano, and more.

eToro

The eToro broker is always fully crypto (at least for US traders, although others may trade stocks). On eToro, you have access to around 80 cryptocurrencies, including several like Tezos, Uniswap, and Polygon that you wouldn’t typically find on traditional brokerage apps. The app does not charge a direct commission, instead, it charges a fixed spread margin of 1% regardless of which coin you buy or how much.

Cost: No commission but 1% margin.

Coins available for trading: 79 cryptocurrencies including Bitcoin, Ethereum, Dogecoin, and more.

Coinbase

Coinbase is a specialized cryptocurrency exchange that allows you to trade many digital currencies, up to a maximum of 230. This section will probably satisfy your cryptocurrency cravings as it has most of the major coin covers, including of course Bitcoin. But how much do you pay to use the basic service? Unfortunately, Coinbase has become more cautious about how much it pays per transaction and recently hid the fee structure on its website. When visible, the fee structure was complex, to say the least. You pay approximately 0.5% margin plus transaction fees, depending on the size of the transaction and the funding source. With Coinbase Advanced Trade, you pay commissions that start at 0.6% for 30 days on volumes under $10,000 and drop to just 0.15% on volumes up to $100,000 and below.

Cost: typically at least 1.99% (lower than Coinbase Advanced Trade)

Coins available for trading: up to 230 including Bitcoin, Ethereum, Cardano, and Solana

Kraken

Kraken is another specialized cryptocurrency exchange that allows you to trade many different coins, including the most popular ones as well as some (Solana, Uniswap, Cardano, and others) that you usually aren’t available on regular apps. In total, the exchange supports trading in more than 212 cryptocurrencies. Kraken does not offer its services to residents of New York and Washington State. Kraken Pro commissions are competitive and range from 0,16-0.26% when the volume is lowest and ranges from 0 to 0.1% for a volume of $10M or more in the last 30 days. Margin trading is also available to high-net-worth traders, allowing them to increase their purchasing power (and risk). While Kraken allows you to deposit funds via ACH for free, debit or credit card transactions involve 3. There may be a charge of 75% plus 25 cents and a 0.5% handling fee on the final check if funded by the bank.

Cost: Fees start at 0.26% plus bank card and Website Banking Fees.

Coins available for trading: 212 of them including Bitcoin, Ethereum, Solana, and Uniswap.

Robinhood

You may know Robinhood from its smart trading -App for stocks, options, and ETFs, but also extends to cryptocurrencies. It also brings its fee-free structure to the cryptocurrency world. While trading is seemingly free, Robinhood charges a markup instead of a direct fee, meaning the cost is built into the price of buying or selling a coin. You can start working with Robinhood Instant Transfer almost immediately, so download and get started.

Cost: $0 or no commission, but there is a spread.

Coins available for trading: 18 of them (some not available in all states), including Bitcoin, Dogecoin, and Ethereum.

Webul

Webul may not be the benchmark for trading apps, but its functionality feels like a step up about Robinhood. Like its well-known rival, Webull offers commission-free stocks, options, ETFs, and cryptocurrencies out of pocket. Similarly, Webull is working on a markup spread for its cryptocurrency transactions so that your costs are built into the transaction. You can also trade a little more coins than Robinhood, including Cardano.

Cost: no commission but 1% (100 bps) spread margin.

Coins available for trading: 58 different types, including Bitcoin, Ethereum, and Solana.

Cash App

When you think of cryptocurrencies, you might not think of a cash app at first. The finance app is best known for its fund management account and even for trading stocks and ETFs. But it also offers the possibility to exchange cryptocurrencies, but only one: Bitcoin. While it’s possible to send bitcoins to other users for free, the Cash App charges what’s called a “small fee” for exchanging the coin, which discloses before a transaction. This is in addition to the spread premium built into the trade itself. Unfortunately, the exact fee structure is not disclosed.

Costs: Margin spread plus transaction fees

Coins available for trading: Bitcoin only.

PayPal

Like the Cash app, PayPal may already be installed on your phone and if it is, you can start trading cryptocurrencies in seconds. PayPal charges transaction fees and transaction margins. Fees start at 49 cents for transactions under $5 and then gradually increase to $2.49 for transactions up to $200. Then they drop to a percentage that drops down to just $1.5% for transactions over $1,000. PayPal makes its fee structure clear for everyone. PayPal’s sister app, Venmo, offers the same services with similar terms and conditions. Cost: Approximately 0.5% margin plus transaction fees start at 49 cents and drop to 1 cent.5%Amounts available for trading: four different cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Summary

The best crypto app or trading currency for this depends depending on your needs. If you want to trade a range of digital currencies, you should consider an app or exchange that allows you to do so. But if you prefer to stick with most major currencies like Bitcoin, Ethereum, and a handful of others, then most of the platforms listed here may be suitable for you. But the cost is also an important factor, so keep that in mind before opening an account.

Disclaimer: All investors are encouraged to do their independent research on strategies before making any investment decision.

In addition, investors are advised that past performance of investment products is no guarantee of future price increases.

For more finance related click here

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

เว็บแตกง่าย