Among the numerous cryptocurrency exchanges, Binance is perhaps the most popular. Among these, eToro and Plus500 rank high in user reviews. However, which of these is best for beginners? Which platform will meet your needs the most? Keep reading to find out! Here are some benefits of using these exchanges. Listed below are some of the most prominent ones:
Binance
If you’re looking for a specialized bitcoin trading platform, you’ll want to consider Binance. This site allows you to buy and sell Bitcoin and other digital currencies, as well as dozens of smaller ones. Binance supports over 600 cryptocurrencies, including Bitcoin, Ethereum, and a variety of altcoins. Another feature is its low commission structure, which gets cheaper the more you trade. Trading fees on Binance start at 0.1 percent of trade value and decrease depending on the volume of your last 30 days of trading.
The Binance exchange supports multiple currencies, including Bitcoin, Ethereum, and Ripple (XRP). It also offers a variety of digital assets, including fiat currencies, such as dollars and Euros. Bisq is the only platform that supports more than 600 cryptocurrencies. Its founder, Changpeng Zhao, is a Chinese-Canadian entrepreneur. While Binance was initially based in China, it moved to Malta when regulatory requirements increased.
It’s easy to use the mobile version of Coinbase. There’s a “Lite” mode that allows you to perform only the basic functions. This is particularly appealing for beginners. The mobile version also includes a high transactional limit of $100,000. You can upload proof of identity through the app. Menu navigation is straightforward. However, you may have some issues with their customer support. It’s best to go with Binance if you’re serious about trading bitcoin.
While the Binance website claims to be the best bitcoin trading platform, this isn’t the case. Many traditional brokers have limited offerings when it comes to trading Bitcoin. You’ll have a more comprehensive selection of tradable cryptocurrencies with cryptocurrency exchanges. Regardless of where you’re located, there’s likely to be a Binance site near you. Make sure you read up on the different exchanges and decide for yourself which offers the most benefits.
eToro
With over ten million registered users, eToro has increased in recent years. This growth can be attributed to the platform’s user-friendly interface, low fees, and focus on cryptocurrencies rather than traditional markets. In addition, eToro’s mobile app makes portfolio management a breeze. However, there are some shortcomings when compared to other platforms. For starters, eToro doesn’t offer e-mail support. Instead, eToro relies on support tickets that are sent through its interface. Support tickets are typically sent to the user’s e-mail address. While these shortcomings are minor, eToro’s customer support is adequate for fundamental problems.
eToro allows users to trade actual coins and CFDs, only derivatives of the underlying asset. Its CryptoPortfolio is built using a unique algorithm that calculates dividends and rebalances the portfolio on the first trading day of each month. It is also possible to copy portfolios from other traders for extra income. Users can start investing with their own money, as long as they have a minimum balance of $500.
However, eToro requires an understanding of crypto. Despite its user-friendly interface, it requires some prior knowledge of investing in cryptocurrencies. Although there are many benefits to eToro’s platform, new users should be aware of some disadvantages. One disadvantage of this platform is its lack of user education. While it offers a social trading environment, eToro expects its users to know the ins and outs of the industry. As a result, complete beginners may face difficulty navigating the site’s terms, including leverage.
Besides cryptocurrencies, eToro offers other financial markets, CFDs, and asset management services. Copy Traders and Portfolios allow you to group several traders into one fund, making passive investing easier. Cryptocurrency trading can be done through CFDs or by purchasing the underlying asset. However, the United States and France traders cannot use eToro’s crypto CFDs.
Read More: The Expert Announced The Impossibility Of Predicting The Bitcoin Rate
Plus500
If you’re looking for a good Bitcoin trading platform, you’ve come to the right place. Plus500 is a reputable company that has helped thousands of people invest in Bitcoin. Its trading platform offers a diverse selection of deposit methods. You can deposit money from your credit card, PayPal, Skrill, bank transfer, and other methods. Plus500 accepts most of these methods, but there are limits on the amount you can deposit.
For starters, Plus500 offers a free demo account. This will allow you to practice trading strategies before making a real-world deposit. It also allows you to practice trading with a minimum deposit of $100, which is more than enough for beginners to experience what it’s like to be an investor. While Plus500 recommends a $100 minimum deposit, they are more suited for experienced traders.
If you’re unfamiliar with online trading, you may be wondering whether Plus500 is safe and trustworthy. The good news is that the company is registered and regulated in top-tier institutions around the world. This means they meet a stringent set of standards for reliability and transparency. The company also hedges its exposure with its parent company, and acts as a principal. It is registered in Europe and the Asia-Pacific region, and it has the necessary documentation to operate in these markets. Furthermore, the company maintains separate funds for corporate and client accounts, and clients can also attach screenshots of their identity documents.
The fees charged by Plus500 are small and simple to understand. You’ll be charged a spread of 0.3% for each trade and may have to pay overnight fees to leverage the cost. Luckily, Plus500 has a mobile application so that you can trade on the go. The app is available on both the iStore and the android app stores. The app is easy to use and intuitive, with all the features of the entire platform. However, the app has a smaller screen, less conducive to technical analysis.
Mercatox
To start using Mercatox, you must first visit its official website. Click the green “Sign Up” button and fill out a simple registration form. Then, enter your basic contact information, such as your email address, along with your country of residence. You will receive a confirmation email after completing the form. Once you’ve received it, log in to your account using your login credentials. The platform also features a charting solution called TradingView.
When you’re ready to withdraw your funds, Mercatox will charge a flat rate of 0.25% for each trade you make. You can withdraw 0.5 BTC daily for unverified users and up to five BTC for verified users. Withdrawal fees vary by currency, and the rates are higher for the top five coins. However, you can set the priority of withdrawals according to your personal preference. Withdrawals of BTC are prioritized over others.
Mercatox’s platform is easy to use and supports many popular cryptocurrencies, such as Bitcoin and Ethereum. It also supports several less popular alt-coins. It also offers live updates of prices of cryptocurrencies and has new features that make trading easier. You won’t need a technical background to use this platform. This makes Mercatox the best platform for Bitcoin trading.
Mercatox has a variety of features to suit the needs of different traders. Its homepage informs you of the advantages of using the platform. It also describes its features in a concise manner. A menu bar at the top of the website features a variety of features. You can also trade leveraged options and use margin trading. However, the platform doesn’t have a mobile application, so you won’t be able to leverage your profits through this option.
YouHodler
YouHodler is a crypto lending platform that lets you deposit funds and earn interest. With a 12% APR, the company has been a leading provider of secure, stablecoins for its users. Traders can keep most of their crypto assets in their savings account and take a smaller percentage for riskier trading maneuvers. Unlike many other platforms, YouHodler prioritizes transparency and consistency.
Unlike other platforms, YouHodler allows you to trade long and short at the same time. Most exchanges prohibit this, but YouHodler does not. It also has a no-deposit fee for cryptocurrencies and stablecoins, and only a small fee for deposits in fiat currencies. The site doesn’t have pushy sales staff that will try to get you to invest your money without ensuring that you make a profit.
YouHodler offers a profit share free of charge up to 0.05 BTC. Moreover, margin calls are charged only with service YouHodler fees, which vary from 2% to 5% (depending on the currency). Mobile wallets and youtube videos are available to help you trade on the go. YouHodler is continuously releasing new features and services, so you can rest assured that you won’t be left hanging.
Its security features and easy-to-use interface make YouHodler a perfect platform for Bitcoin trading. You can also borrow money and make deposits in different cryptocurrencies. This makes it much easier to exchange your money and buy more cryptocurrency. You can use the loan to invest in other cryptocurrencies, including stablecoins. However, you need to know how to properly leverage your account. If you’re not a professional investor, the yield limit may be a good idea for you.
