The Best Cyrptocurrency trading platforms in 2018
If your searching for the best cryptocurrency exchange you are at the right place. There was a lot to learn from cryptocurrency in 2017. It was the year of these new digital currencies with a lot of them growing over 500%. Bitcoin alone grew over 10,000% in the year 2017. Let’s put this in perspective. If you invested $100.00 in the beginning of the year in 2017, you would have made over ten thousand dollars in profit at this time of this writing.
The Coinbase app has a feature available that allows you to set alerts for specific bitcoin prices, however a bitcoin exchange is essential for more advanced features. Preventive loss measures can be implemented with on a digital bitcoin exchange platform. Arranging for your bitcoin to sell or buy at a specific price is possible on a cryptocurrency trading platform.
The first step is buying bitcoin through an online service such as coinbase.com, they also provide you with a bitcoin wallet which is one of the best available. Bitcoin is your access to over 1300 other cryptocurrencies that can be traded online via a vast amount of trade websites. We recommend coinmarketcap.com to keep track of these cryptocurrencies live as people are trading these cryptocurrencies.
We compiled a list from our experience of the best bitcoin trading platform for 2018.
A lot was learned while trying out the so-called best bitcoin exchange platforms, somewhere great while others were not. Learn with us and avoid high fees and high withdraw limits, we will help you save time with our research.
Our 1st favorite bitcoin trading platform is binance.com
We discovered Binance.com from coinmarketcap.com, we noticed a vast number of South Koreans purchasing iota on there. They accept American accounts and make it very easy to sign up. At first, it wasn’t a favorite because their website had issues handling a lot of people at one time, they recently made upgrades which has improved this issue. We can now log in at any time without any issues. Binance.com is our favorite because it has more cryptocurrencies available for trade than any other bitcoin trading platforms, you can trade over 100 different cryptocurrencies with bitcoin on Binanace.com. Trading fees are %0.050 compared to coinbase.com app to sell or buy at 1.49%.
List of Cryptocurrencies available on Binance is over 100+
Our 2nd favorite bitcoin exchange platform is Gdax.com
Gdax is owned by Coinbase.com, their bitcoin trading platform is connected with Coinbase for easy transferring. Transfers are free from your Coinbase wallet to Gdax. We recommend Gdax because its much cheaper then selling and buying on its Coinbase app and website. Gdax is not perfect and sometimes can experience outages due to too many people on their bitcoin exchange platform. Unfortunately, Gdax only has 3 other cryptocurrencies available to trade on their platform. Besides bitcoin there is bitcoin cash which was barely recently added only last month in November 2017. Ethereum and litecoin are the other two available to trade your bitcoin for.
Kraken made it as our top 3rd favorite cryptocurrency trade platform.
Kraken has a lot of cryptocurrencies available for trade too, just not as much as Binance.com. Their platform continues to struggle frequently when too many people are visiting their website. The reason why I joined Kraken was before coinbase.com released bitcoin cash. Those who were able to purchase bitcoin cash before it was released on coinbase.com made a lot of money. The release of Bitcoin cash on Coinbase caused the price to surge. Many are predicting ripple is the next to be released on Coinbase.com, so using one of these listed recommended cryptocurrencies to obtain ripple can be very lucrative.
Kraken does have its drawbacks, its far from the best because of these. Unfortunately, when I tried to place a limit buy or sell kraken would crash multiple times. This occurred too frequently that I decided to move all my cryptocurrencies to Binance.com. Kraken needs to invest in improving its website for a better user experience.
Bitcoin exchanges we do not recommend
Save yourself some trouble and avoid headaches we experienced with not so great cryptocurrency exchange platforms. We will continue to update this list as we come across more bitcoin trading platforms we do not like.
Stay away from Cex.io, they have a withdraw limit and charge ridiculously high fees.
I will start off by saying that the cex.io trading platform looks great! I was excited to join it until I discovered they have buy and sell minimums of $100.00 USD. They also have a withdraw limit of 0.01 bitcoin which is equivalent to $150.00 USD during this current time of writing. Cex.io suspended the registration of new members because they could not technological keep up with the demand of visitors, as was stated in an email they sent out to all of their current clients in Dec.22.2017.
Cryptocurrency trading tips and advise:
- The most obvious is do not spend what you cannot afford to lose. Cryptocurrencies are very high risk that’s why they have a high reward. It’s important to invest intelligently. We are still in very early stages of the evolution of cryptocurrencies with over 1300 right now and many taking off big in 2017.
- Do your research before investing into any cryptocurrency. We may be a great resource on getting started however we suggest reddit.com and google news to see what’s the most current updates. The community on reddit is fantastic and very engaging on the latest news about almost every cryptocurrency. I am currently subscribed to the following sub reddits, bitcoin, ripple, and iota.
- Creating preventive loss measures with auto sells can protect you from losing profits. This advice is going to get your feet wet with cryptocurrency trading and can be extremely beneficial in retaining money made from surges and upswings. The cryptocurrency markets can be very Volatile, bitcoin can surge $2,000 one day and drop $7,000 the next day. This happened last year when it peaked at 19,000 and than dropped to $13,000. Arranging for an auto sell at 18,500 would have prevented the loss even if you were sleeping.
- Remember there are always market corrections after a major upswing. As seen with bitcoin many times after it has dramatically increased in price it soon after has a price correction.
- We recommend practicing with a small investment, with some practice you can improve your trades. Its very easy to get emotional and sell during a dip or buy at an all-time high. These are beginner mistakes.