3 Platforms to Trade Cardano and Other Top Cryptocurrencies
Cryptocurrency has become an extremely popular investment over the last few years. A survey by CNBC found that 1 in 10 people are now investing in cryptocurrencies. Despite the market’s high volatility (Bitcoin went from over $63,000 to $50,000 in four months) and its risk due to not being regulated, it is still proving popular among investors.
There has also been a growth in the number of different cryptos, and Cardano is becoming a strong player in the market. There is no right or wrong when it comes to what currency to trade as they all have their pros and cons, but one thing is for sure, crypto isn’t going anywhere anytime soon.
If you are looking at getting into crypto, but you’re not sure where to start, it’s a good idea to look into trading on legitimate platforms. When considering which one to choose, it’s important to consider security, accessibility, and the currencies that are being offered. This will help make the whole process easy for beginners. So, here are some platforms that will be easy to use for both experts and novices alike:
The first cryptocurrency exchange platform on this list is one of the oldest, and one of the most reputable. Time Magazine notes how the platform has been around since 2012 and has since become the first crypto exchange platform to go public on the Nasdaq in 2021. It boasts a user-friendly interface and has a multitude of educational tools that gives users rewards for learning. It currently hosts more than 50 cryptocurrencies and has won awards for its security.
The downside of this platform is that the fees are quite high. You will be charged around 0.5% to 2% of your sale or purchase amount but this is subject to change based on the market. Transferring money into the platform’s wallet will also elicit a charge. All in all, Coinbase is great for investors that are just starting out and want a simple and convenient interface.
The second platform on our list isn’t quite as old as Coinbase but it is just as good. AskMoney has lots of posts on crypto and in one of its articles, it identifies Webull as a great option for fledgling investors because it is user-friendly and has a variety of research material to reference. It also offers different kinds of investment like stocks and exchange-traded funds which are perfect for users who are expanding their portfolio. Aside from this, the platform also has fee-free trading, which is a huge bonus.
The biggest drawback is that it doesn’t support that many cryptos. However, it does support the most popular ones with big names like Bitcoin, Ethereum, and Litecoin as well as relatively smaller currencies like Dogecoin and Shiba Inu. Before trying out this platform, it is important to do your research first to see if they support your desired currency.
The last platform on this list is one of — if not the — most dominant crypto trading platforms right now. A Binance.US review on Forbes explains that this is because it is highly intuitive and has competitively low rates. It is also has a very secure app and is actually ranked the third safest exchange in the world. It has a section where you can request quotes to see how much you can exchange a certain amount of crypto for in fiat money.
The problem with this exchange is that it cannot be used in certain states like New York, Texas, Vermont, Louisiana, Connecticut, Hawaii, and Idaho. Additionally, its parent company Binance Holdings has been caught up in a bit of controversy recently. This doesn’t affect the platform but it has cast a lot of doubt over the holding company in recent months.
Cryptocurrencies continue to gain traction as more and more people trade them despite their speculative nature. If you want to get started on your own journey, we recommend these platforms to help you learn more about digital currencies.