So right now, take a second and visualize the stock market. The stock market is one of the most exciting places in the world with so many people buying and selling, in the hopes of making even more money. In order to actually use the stock market, you have to understand the goings on of how it works, and how you can make more money from the money you invest. You need to know when to buy and when to sell; it is all about timing. In order to do this, you need to start and from doing practical hands-on work, you will begin to know how it all works and how to put your money to work for you.
The reason we bring up the stock market is that the cryptocurrency trading platform is very similar to the stock market. It is the place where a lot of people buy and sell their cryptocurrency and either have it transferred into another virtual currency or into actual dollars and euros. It is an exciting place to trade, sell and figure out what cryptocurrency is actually worth the most.
Finding the best cryptocurrency trading platform
Here’s the tricky thing about trading with your cryptocurrency—there are so many platforms you can use. Remember cryptocurrency is entirely virtual and based online, so many people have created platforms that you can trade with. But which one should you use and why?
We have put together a few options that you can look at and see which one is going to work the best for you. Obviously, with any cryptocurrency trading platform security is the most important thing, so you can know that you are safe and all of your cryptocurrency will not be tampered with.
The types of exchanges
There are many different ways to use a trading platform to exchange your cryptocurrency. The first are the trading platforms, which is what we are looking at today, as they are the main websites that connect you with other buyers and sellers around the world. The trading platforms usually take a fee from all transactions so you will lose a bit of your cryptocurrency working with them.
Another thing people do is direct trading, which allows you to personally trade with another person in another country without a fixed market price in place. Everyone sets their own, so you can figure out what is best.
The final thing people do with their cryptocurrency is to use a broker. These are places online that you can go to buy cryptocurrencies with a price set by the broker. It is kind of like dealing with dealers on a foreign exchange.
The most common cryptocurrency trading platform out there right now is Coinbase. Coinbase is one of the most popular ones because it is trusted and very secure, being used by millions of people around the world every day. Even some of the biggest investors and brokers use Coinbase because you can buy Bitcoins and even open up your digital wallet on your smartphone. They have a fantastic reputation, have great security, and have some of the most reasonable fees on the market right now. However, they are only used in a limited number of countries, and there are very few payment methods that you can choose from.
Cex.io is another one of the commonly used cryptocurrency trading platforms because of their great reputation around the online community and their ability to work with your smartphone. It allows you to trade money and cryptocurrency around the online world, and they offer a fantastic brokerage service in case you need help at all.
One of the final cryptocurrency trading platforms we are looking at is ShapeShift. We enjoy this trading platform because they are great to work with if you are beginner. It is very straightforward and you do not have to sign up for an account to use it. You can easily use it even if you are new to the world of cryptocurrency. However, their app is not the greatest, and there are very few payment options on this.
It is up to you to find what cryptocurrency trading platform will work. We have given you a few reliable options to begin with, so check them out and determine which will work best for you. But don’t take our word for it; investigate further and listen to what experts have to say about a particular trading platform.