The best platform for trading cryptocurrencies
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Cryptocurrency exchange platforms grow like mushrooms. There are now hundreds of them, and traders no longer know where to open their account to speculate on altcoins. The phenomenon is fortified by cryptocurrencies that launch their first listing (post ICO) on almost unknown platforms. They attract the masses. And traders who are always looking for"nuggets" do not hesitate to open accounts everywhere, the opening procedure is so simple.
For information, in the beginning I only had one cryptocurrency purchasing platform: Bitstamp
Then I wanted to speculate on more diverse cryptocurrencies (altcoins), and I opened an account at Bittrex. Today, I also find myself with accounts at Finance, Allcoins, Yobit, Kucoin , Okex and HitBTC. All these accounts are at zero; but there was only this solution available to me to buy some cryptocurrencies that interested me at the time.
I said "the masses are attracted"; not so long ago, Poloniex held the market, then Bittrex lasted a month or 2, today Binance is the leader, and tomorrow..? Who knows?
Since not all trading platforms have the same cryptocurrencies to trade, there is a list of the best trading platforms for directly purchasing each cryptocurrency. Let me explain:
Here is the list of the cryptocurrency trading (and purchasing) platforms where Bitcoin is traded the most (the most liquid) as of the time this article was written:
OKEx 1st position;Bitfinex2nd; Binance 3rd; Upbit 4th, etc.
Let's now look at the list of cryptocurrency trading platforms where ICON (South Korean blockchain) is traded the most (the most liquid):
Binance is 1st and generates nearly 95% of this cryptocurrency’s trades.
OKEx (which was 1st for Bitcoin trades) is 6/7th with only 1% of this cryptocurrency’s trades. In other words, it would be difficult for you to get a good ICON price on this trading platform.
Finally, let's take a look at the list of cryptocurrency trading platforms where ZPT is traded the most (the most liquid):
For information, Zeepin is a cryptocurrency that has just made its entry to the ratings after an ICO on the NEO blockchain.
OKEx and Binance do not offer ratings for this cryptocurrency. Only the Kucoin and Gate.io platforms let you buy/sell this cryptocurrency. And to choose, it is better to go to Kucoin because they currently generate 94% of Zeepin trades; you would therefore have a much better order book and greater liquidity.
On cryptocurrency trading platforms there is a race to offer the most cryptocurrencies to trade. Some platforms offer more than one new one every day. But two things interest traders more than any other:
1/ being the first to access the latest cryptocurrency released on the market (post ICO)
2/ liquidity. Nothing is more annoying than platforms where the market is held by two or three subscribers, and which even quote major cryptocurrencies with huge spreads, and very small volumes.
I don't have the answer. I'm not going to do the same as all the sites/blogs that create a "so-called" rankings of the best cryptocurrency trading platforms simply to place in the 1st position (with an affiliate link.) the platform that pays its affiliates the most.
All we can say is that currently Binance is the most "versatile" platform for trading directly owned cryptocurrencies , but it does not offer access to all cryptocurrencies. You would be obliged to open accounts on various exchange platforms to access the cryptocurrency of the moment that interests you. Just be wary of its liquidity because on some platforms it will be un-tradeable.
Example of an order book on the BTG/BTC pair. Far from being the two smallest cryptocurrencies.
And yet it is impossible to buy or sell Bitcoin Gold on this trading platform.
In the future, another (more versatile) cryptocurrency trading platform will overtake Binance. I will come and tell you about it here.
Meanwhile, if you see a list of the "so-called" best cryptocurrency platforms on some sites: be cautious, they may just be trying to get you to click their affiliate link!
We can not end this article without mentioning brokers offering access to cryptocurrencies via limited risk CFD. These limited risk CFDs offer the opportunity to trade major crypto-currencies for both purchase and sale, with better liquidity and leverage (but be careful not to abuse it!)
No.
We are talking about two offers that can't be compare. Each offer has its advantages and disadvantages, and responds to the needs of different types of traders / investors. I invite you to read this post: Trading Crypto-currencies via CFD or via Wallet?
Which platform for cryptocurrency trading?
Cryptocurrency exchange platforms grow like mushrooms. There are now hundreds of them, and traders no longer know where to open their account to speculate on altcoins. The phenomenon is fortified by cryptocurrencies that launch their first listing (post ICO) on almost unknown platforms. They attract the masses. And traders who are always looking for"nuggets" do not hesitate to open accounts everywhere, the opening procedure is so simple.
For information, in the beginning I only had one cryptocurrency purchasing platform: Bitstamp
Then I wanted to speculate on more diverse cryptocurrencies (altcoins), and I opened an account at Bittrex. Today, I also find myself with accounts at Finance, Allcoins, Yobit, Kucoin , Okex and HitBTC. All these accounts are at zero; but there was only this solution available to me to buy some cryptocurrencies that interested me at the time.
I said "the masses are attracted"; not so long ago, Poloniex held the market, then Bittrex lasted a month or 2, today Binance is the leader, and tomorrow..? Who knows?
Since not all trading platforms have the same cryptocurrencies to trade, there is a list of the best trading platforms for directly purchasing each cryptocurrency. Let me explain:
Here is the list of the cryptocurrency trading (and purchasing) platforms where Bitcoin is traded the most (the most liquid) as of the time this article was written:
OKEx 1st position;Bitfinex2nd; Binance 3rd; Upbit 4th, etc.
Let's now look at the list of cryptocurrency trading platforms where ICON (South Korean blockchain) is traded the most (the most liquid):
Binance is 1st and generates nearly 95% of this cryptocurrency’s trades.
OKEx (which was 1st for Bitcoin trades) is 6/7th with only 1% of this cryptocurrency’s trades. In other words, it would be difficult for you to get a good ICON price on this trading platform.
Finally, let's take a look at the list of cryptocurrency trading platforms where ZPT is traded the most (the most liquid):
For information, Zeepin is a cryptocurrency that has just made its entry to the ratings after an ICO on the NEO blockchain.
OKEx and Binance do not offer ratings for this cryptocurrency. Only the Kucoin and Gate.io platforms let you buy/sell this cryptocurrency. And to choose, it is better to go to Kucoin because they currently generate 94% of Zeepin trades; you would therefore have a much better order book and greater liquidity.
On cryptocurrency trading platforms there is a race to offer the most cryptocurrencies to trade. Some platforms offer more than one new one every day. But two things interest traders more than any other:
1/ being the first to access the latest cryptocurrency released on the market (post ICO)
2/ liquidity. Nothing is more annoying than platforms where the market is held by two or three subscribers, and which even quote major cryptocurrencies with huge spreads, and very small volumes.
So who do you open a cryptocurrency account with?
I don't have the answer. I'm not going to do the same as all the sites/blogs that create a "so-called" rankings of the best cryptocurrency trading platforms simply to place in the 1st position (with an affiliate link.) the platform that pays its affiliates the most.
All we can say is that currently Binance is the most "versatile" platform for trading directly owned cryptocurrencies , but it does not offer access to all cryptocurrencies. You would be obliged to open accounts on various exchange platforms to access the cryptocurrency of the moment that interests you. Just be wary of its liquidity because on some platforms it will be un-tradeable.
Example of an order book on the BTG/BTC pair. Far from being the two smallest cryptocurrencies.
And yet it is impossible to buy or sell Bitcoin Gold on this trading platform.
In the future, another (more versatile) cryptocurrency trading platform will overtake Binance. I will come and tell you about it here.
Meanwhile, if you see a list of the "so-called" best cryptocurrency platforms on some sites: be cautious, they may just be trying to get you to click their affiliate link!
We can not end this article without mentioning brokers offering access to cryptocurrencies via limited risk CFD. These limited risk CFDs offer the opportunity to trade major crypto-currencies for both purchase and sale, with better liquidity and leverage (but be careful not to abuse it!)
Can we compare the crypto-currency purchase / exchange platforms with brokers offering cryptocurrency trading via limited risk CFD?
No.
We are talking about two offers that can't be compare. Each offer has its advantages and disadvantages, and responds to the needs of different types of traders / investors. I invite you to read this post: Trading Crypto-currencies via CFD or via Wallet?
