Investing in cryptocurrency is the hottest new trend, and you may be thinking of investing a chunk of your capital into crypto tokens. But how does one get started, and what does the procedure look like?
If you wish to earn a high return on crypto can consider opening up a crypto savings accounts and get a return of 12% with a few added risks.
We have compiled a list of the best cryptocurrency investing platforms and exchanges to help layout the foundation.
Coinbase
This is one of the most popular cryptocurrency exchanges as it lets you invest directly in USD. This platform offers a range of up to 30+ digital coins and tokens such as Bitcoin, Ethereum, Litecoin, and more. It comes with a user-friendly interface, and it has a good selection of tokens and coins that you can choose from. Coinbase also comes with a high level of security and trustworthiness, making it the best exchange platform for cryptocurrency. However, this platform incurs high fees unless you’re subscribed to Coinbase Pro. The user is also doesn’t have control over the private keys in the wallet, and it’s slow to adopt new cryptocurrencies as they enter the market.
Voyager
Voyager is the first publicly traded exchange platform for cryptocurrency. It comes in an App, and it offers a trading structure without any commissions. This platform supports all the major cryptocurrencies and pays competitive interest rates on its assets. Voyager also has a solid support and engagement base from crypto-users. However, it comes with slow withdrawals, and it is not available in New York yet.
BlockFi
This cryptocurrency investment platform allows the user to lend and earn an interest rate on their holdings. It lets you borrow tokens against your holdings without the need to seek out or mine coins. If you don’t wish to actively take part in trading, you can choose to hold your tokens, and BlockFi will earn interest on your behalf. The pros of this platform are that it comes with no commissions and fees. The platform is based and regulated in the US, and you get to earn high interest on your deposits. However, it doesn’t support all the coins available in the crypto market, and it comes with limited free withdrawals.
Kraken
This is one of the first and original crypto trading platforms, and they have a wide variety of coins and tokens which you can invest in. However, this is a real physical exchange and not as simple to use compared to other platforms. This platform is also one of the very few to trade in DOGE, one of the riskier tokens. Kraken also offers a limited selection of coins to its US customers as opposed to its international clientele.
Crypto.com
This is one of the largest and fastest-growing crypto exchanges in the world. This Hong Kong-based exchange offers a lot of support to its US customers, and it allows you to gain access to over 90 tokens and coins worldwide. Crypto.com also offers impressive rates every week on their savings account. You can even get your debit card linked to your crypto account. However, this platform has a complex fee structure, and it is not available on the desktop – you can access it using the app only.
Binance
One of the most robust trading platforms, even though it’s complicated to use. The interface of their smartphone app is not as easy to use, and the US version has a limited number of coins and tokens as compared to the international version of Binance. Nonetheless, this platform supports a huge amount of coins and tokens, offers fast transactions, and it comes at low fees. For more information on these and more cryptocurrency platforms where you can invest your money, check out the Bitcoin Profit app.
