Are you planning to invest in crypto trading, but you do not know what trading platform to use? Well, you are not alone. Many beginner traders have the same concern. In this article, let us look at three beginner-friendly trading platforms you can immediately use in 2021.
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#1 Coinbase
The first on our list is Coinbase. In fairness to Coinbase, it dominates a lot of lists over the internet. Undeniably, it is one of the leading platforms nowadays. In fact, Time named Coinbase as the best crypto exchange for beginners. They want to use crypto to create a more equitable, accessible, efficient, and transparent financial system. They began in 2012 with the daring idea that everyone, everywhere, should be able to send and receive Bitcoin effortlessly and securely. Coinbase now provides a secure and user-friendly platform for accessing the broader crypto economy. Coinbase is trusted by over 73 million verified individuals, 10,000 institutions, and 185,000 ecosystem partners in over 100 countries to invest, spend, save, earn, and use cryptocurrency conveniently and safely.
Coinbase stands out for the user-friendly design that allows straightforward one-time or recurring bitcoin purchases. However, this convenience comes at a price. Its perplexing price structure charges you more than you would on the company’s less user-friendly Coinbase Pro platform, which is also free to use. Unless you are trading over a million dollars a month, you will undoubtedly find lower costs at most other big crypto exchanges if you are ready to level up and become Pro.
Forbes rated them with 4.5 stars based on the terms and benefits of the platform. It is a bit pricey compared to other platforms. But for most traders, it is worth the pay. They charge a 1.99% maker/taker fee.
#2 Bitcoin Prime
The next on our list is Bitcoin Prime. Why do we include it in our beginner-friendly platform list? Well, that is because Bitcoin Prime, as a platform, finds professional brokers to help you get started. You can use their unlimited premium trading services with a deposit of as little as $250 (and no maximum restrictions). Most beginners consider trading platforms like this because they find technicalities in crypto trading overwhelming. If you are one of them, you may also think of joining this platform. You can learn more about Bitcoin Prime on https://kubitx.io/.
Transparency is the top priority of Bitcoin Prime. Their partners provide a wide range of tools to assist you in learning the ins and outs of crypto trading. With Bitcoin Prime, you can get real-time market data and place orders with only a few taps on your phone. There is no need for complex software or high-priced trading equipment. They are one of the most popular venues for making the crypto market accessible to the general public.
Bitcoin Prime aims to progress continuously. They go above and above to give users custom-tailored solutions. Because they are not brokers, they have access to the most reliable brokerage services available to assist users in getting started. That initiative comes from their desire to help users not be duped by unlicensed brokers prowling the internet.
Bitcoin Prime uses real-world solutions to make trading more convenient. Beginner-friendly solutions and a user-friendly interface are available on the Bitcoin Prime platform and app. If users have any problems getting started with crypto or activating their account, their partners offer 24/7 support tailored to their specific needs in real-time. Unfortunately, many of their competitors disregard customers’ safety and create vulnerable platforms. However, you will not have to worry about your privacy or personal information on the Bitcoin Prime website. They collaborate with the most competent brokers to ensure smooth trading.
#3 Cash App
The third on our list is Cash App. Investopedia named it as the best platform for beginners. If you are just getting started and want to trade Bitcoin as your first cryptocurrency, this is the place to go. The ranking authority went on to say that the platform is simple to use and offers a variety of withdrawal options to other bitcoin wallets.
Cash App uses a person-to-person money transfer system. The good thing about it is that it has practical applications. It allows users to split pay for food, rent with a roommate, and even shop online at a Cash App-supported business. Users can have their own Cash App debit cards and utilize Cash App like a bank account. You have an edge here if you are more comfortable with mobile apps than computer software. This exchange’s mobile-first interface is simple to understand and operate, making it perfect for first-time investors.
One of the worries of newbies in crypto trading is that they feel paranoid when they do not possess their investment. With Cash App, you can withdraw your cryptocurrency investments to your wallets as you wish. More control means fewer worries. For this reason, many beginner traders choose this app. In the bitcoin world, the power to withdraw cryptocurrency from an exchange is vital.
One disadvantage, similar to Coinbase, is that you still do not have ownership over the private keys. It is known in the cryptocurrency community as “not your keys, not your coin,” which indicates that if you do not have the private keys to the wallet where the coins are deposited, they are essentially not yours. Furthermore, they levy a fee when sending money by credit card. They also impose withdrawal limits on a daily and monthly basis.
To Sum It Up
Consider your ability and preference in choosing a crypto trading platform. Like choosing a car, you must not aim to drive a sports car if you are a beginner. It takes time to do that. You start in the first level or with beginner-friendly vehicles to minimize the chance of having an accident. In crypto trading, that accident refers to burning your hard-earned money. Of course, no one wants to lose in trading. That is why newbies study the market rigorously before entering the crypto market. Remember that you must take your own risk when investing in crypto.
