July 12, 2024

Business Bib

Business & Finance Blog

The best platform for buying cryptocurrency

2 min read

If you have never had any experience in trading, but are eager to begin with something, the first and foremost thing to do is to buy cryptocurrency. There are a few ways to do it:

1. Simple exchange. Small websites with a limited number of crypto assets, usually require careful consideration for credibility.

2. Cryptocurrency exchange platform – may be of two types: centralized and decentralized.

The best platforms to buy cryptocurrency belong to the centralized type. They operate similarly to traditional financial organizations with central management and strict control over illegal activities. Such exchanges allow only limited functions for users without registration. That is, only simple swapping. However, to access a wide array of tools for investments and trading, a user must pass the KYC verification, which is made to provide a high level of security for users and their funds. Centralized platforms keep clients’ assets in their wallets and guarantee protection against hacker attacks.

Let’s consider some of the best platforms to buy cryptocurrency.

Binance

Binance is considered to be the best platform for buying cryptocurrency. Probably every trader has an account on this exchange. It offers a convenient application, an educational section, and average fees. Users will find a full range of all possible crypto assets on Binance. The impressive daily trading volume of $16,2 billion leaves no doubts about the exchange’s credibility. 

Kraken

This is a reputable platform to buy cryptocurrency. Suitable for experienced traders because it offers complex solutions for trading. The trade volume reaches about $698.10 million a day. Spot trading and futures are available.

WhiteBIT

This is one of the best platforms to buy cryptocurrency. It offers a beginner-friendly interface, over 400 crypto pairs, and the option to buy crypto with fiat, suitable for beginners. Daily trade volume reaches $694 million, but we must note that this is a relatively young exchange. WhiteBIT charges average fees of 0,1% from each transaction.