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 Verfasst am: 12. Mai 2023 07:20 Titel: Best Crypto Exchanges For Beginners In 2023 |
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Best Crypto Exchanges For Beginners In 2023
Crypto exchanges enable investors to buy, sell, and trade digital assets like Bitcoin and Dogecoin. Many factors should be considered when selecting an exchange, such as regulation, supported cryptocurrencies, and fees.To get more news about crypto exchange ranking, you can visit wikifx.com official website.
Read on to discover the best crypto exchanges in 2023. We review the top 10 crypto trading platforms for the most important metrics, allowing traders to make informed decisions.
1. eToro – Overall Best Crypto Exchange in 2023
eToro is the best crypto exchange to get started with today. It supports dozens of new cryptocurrencies, from Bitcoin, Dogecoin, and Cardano to Decentraland, Shiba Inu, and Dash. Each supported cryptocurrency can be purchased from just $10.
This will suit investors on a budget and those that wish to create a diversified portfolio. eToro also offers some of the lowest fees in the crypto exchange industry.
For example, traders will pay a commission of just 1% of the total transaction amount. USD deposits are fee-free, including debit/credit cards, e-wallets, and bank transfers. In comparison, most crypto exchanges charge between 3-5% on fiat money deposits. We also like that eToro offers an in-built wallet service. This offers the perfect balance between safety and convenience. After all, not only is eToro regulated by FINRA, FCA, CySEC, and ASIC; the platform has been operating since 2007.
Furthermore, eToro is trusted by more than 30 million traders worldwide. eToro also offers a crypto wallet app for iOS and Android. This enables traders to send and receive tokens, and the wallet app is licensed by the GFSC. eToro is also the best crypto trading platform for investing passively. Its copy trading tool, for instance, allows traders to replicate the orders of a seasoned investor. Any crypto assets purchased or sold by the investor will be copied like-for-like.
eToro smart portfolios are also popular. These are ETF-like investment portfolios managed by the eToro team. Each smart portfolio will track a basket of cryptocurrencies and comes with its own strategy. For example, the ‘Napoleon’ smart portfolio tracks five large-cap cryptos, including Bitcoin, BNB, Ethereum, Cardano, and Litecoin. The ‘Crypto Equal’ smart portfolio diversifies further, with 20 cryptocurrencies supported at various weights.
eToro also provides the necessary tools to find the best cryptocurrencies to buy. For instance, it offers oversight on the biggest gainers and losers over the past day of trading. This is in addition to a list of trending cryptocurrencies. By clicking on a specific cryptocurrency, eToro displays a range of useful data. This includes the market cap, past performance, 52-week range, and investor sentiment. There are also real-time charts that come with technical indicators.
2. OKX – Leading Crypto Exchange With Low Fees and Passive Income Services
OKX is another highly-rated crypto exchange that offers a wealth of trading services. Its crypto spot trading platform offers some of the lowest trading fees available. Traders will pay just 0.1% on each buy and sell order. OKX offers even lower commissions when traders meet 30-day trading volume milestones.
The main OKX exchange supports over 370 markets, including some of the best long-term cryptocurrencies.
When using the OKX DEX (decentralized exchange), thousands of additional tokens are available. This includes some of the best low-cap cryptocurrencies. OKX also supports more advanced crypto trading products, such as perpetual swaps, futures, and options. These products offer access to leverage and short-selling orders. Derivative trading fees are also competitive, starting at just 0.05% per slide.
3. Binance – Largest Crypto Exchange for Daily Trading Volume
Binance is the dominant exchange in the crypto space. It attracts the largest amount of daily trading volume, often surpassing $10 billion in 24 hours. This ensures that there are always sufficient levels of liquidity, even with emerging cryptocurrencies with a small market cap. Binance is also one of the best crypto exchanges for low trading fees.
For example, Bitcoin, Ethereum, and BNB can be traded against TUSD at 0% commission. All other supported markets come with an entry commission of 0.10%. But this can be reduced by 25% when holding BNB tokens (the native crypto of Binance). Fees are also reduced when traders meet minimum volume requirements throughout the month. Just like OKX, Binance also offers crypto derivative markets.
4. Coinbase – Safe Crypto Exchange With Top Security Features
Coinbase was founded in 2012 and now boasts a customer base of over 100 million traders. The exchange is regulated in the US and offers a safe environment to buy and sell over 250 cryptocurrencies. We did, however, find that Coinbase is expensive across both payments and trading commissions. For example, there is a standard commission of 1.49% on buy and sell orders.
But when trading less than $200 worth of crypto, a less favorable flat fee kicks in. Depositing funds with a debit/credit card or Paypal will attract fees of 3.99%. This includes the commission but is still expensive nonetheless. Nonetheless, many traders are attracted to Coinbase for its simple investment process. Moreover, security features are industry-leading. |
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