I have heard so many people who are alien to the crypto ecosystem cry wolf about being scammed out of their hard earned money, by some unscrupulous individuals who promise them large sums of money in profit. The victims are conned into handing over their money to these criminals who promise to make trade Bitcoin on their behalf.
This article focuses on shedding some light on the mystery around cryptos. There’s no need for a third party involvement in your crypto business. All you need to do is download one of the platforms mentioned below by following instructions, and voila.. you can start buying and selling cryptos all by yourself!
The platforms mentioned below can be downloaded and used comfortably on devices like mobile phones, tablets, and laptops.
Although using a website is likely more convenient, users can download the apps too, and trade without much of a hassle.
According to research, coinbase seems to be the most popular amongst westerners, as a result to it’s compliance to US regulations where it is based. Moreover, coinbase is equally publicly traded on the US stock exchange market( see details below)
Coinbase was founded in 2012, and is accessible to millions of common users with zero experience in the crypto ecosystem.
It has tens of millions of users and has always been optimized for the common user, especially those with absolutely no experience in cryptocurrencies. More so, coinbase has equally grown to serve both small investors and large institutional investors. Here are some of the pros and cons of using coinbase;
Advantages of using coinbase
- It is easy to use
- coinbase is very secure
- The platform is very popular amongst crypto traders; therefore a big community
Disadvantages of using coinbase
- The commissions charged by coinbase are above the average charged in the industry, however, more experienced users can use their “Pro” platform with less commissions.
- The support service isn’t readily available in case a user is struggling with the platform.
Fired up about crypto currencies? Do not procrastinate. Join the tens of millions of crypto traders now via this link right here, and we will both earn £7.54 worth of Bitcoin.
Binance is the most used crypto trading platform amongst advanced users around the world. In terms of daily trading volumes of cryptocurrencies, Binance tops the list.
It is an excellent platform that serves both the “newbies” and “Pro” users in the crypto ecosystem, by offering a wide range of products, services and features. However, some of its services are limited to certain countries due to different compliance and regulatory legislation.
Binance has its own designated crypto coin known as Binance coin which has since grown from $4 in Dec 2017 to its all time high of $654 in May 2021.
Advantages of Binance
- It has optimized features, products, and services for advanced crypto traders.
- Binance is number one in the world in terms of trading volumes, hence a larger support community.
Disadvantages of Binance
- As the case with coinbase the user support system is flawed due to delay in responses to quick questions from its users.
Kraken is a crypto platform that was founded in 2011, and is based in the USA. It is an exchange, that allows it’s users to trade between cryptocurrencies and fiat currencies. Kraken’s platform is currently trading 72 cryptocurrencies to residents in 48 US states and 176 other countries besides the USA.
There are several other platforms on which cryptocurrencies can be traded such as your normal broker i.e Etoro, Reddit, Robinhood, Vanguard etc, or via websites like Bitfinex
So.. according to the Fortunes Business Insight, “the global cryptocurrency market size was USD 754.0 million in 2019 and is projected to reach USD 1,758.0 million by 2027, exhibiting a CAGR of 11.2% during the forecast period.”
Don’t wait much longer, I strongly recommend for you to join the moving crypto train. If you missed this article on About Cryptocurrencies!, please make some time to read it too.
