A brief overview of the most commonly used crypto platforms

There is a lot of confusion about the right cryptocurrency to buy, and when the purchase should take place. Even though some have been very successful in their investments within this virtual currency, there are also lots of people that have lost millions because they made mistakes investing in the wrong coins.

What type of coin to buy and what exchanges do you need to use?

In this article, we will talk about different type’s coins to buy;

•             Binance

This is a new crypto platform established in China but recently moved to Japan. They have been gaining a lot of traction lately because of their low fees and good support from the community who seem very happy with this new platform.

•             Coinfalcon

Coinfalcon, which is an August 2017 cryptocurrency exchange based in the UK. Founder Jordan steeves’ mission is to liberate users from government regulations and rules.

1. Coin Falcon’s buying and selling process is very straightforward.
2. Creating an account with Coin Falcon and logging in is the first step
3. You can access the dashboard by clicking on the buy/sell button in the top navigation bar.
4. A drop-down menu will allow you to select the currency for your exchange.
5. A drop-down menu appears where the available cryptocurrency can exchange for another cryptocurrency.
6. Clicking the buy button will complete the transaction.

•             Poloniex

It is another good exchange although they are not as popular anymore because fees were raised from 0.15% to 0.25% during the November ’17 bull run where demand for cryptocurrencies skyrocketed. It is still considered a profitable trading environment if you know what you’re doing and uses the proper risk management and sales when appropriate.

•             BitFinex 

This one has been around for a long time and is known as one of the top cryptocurrency exchanges out there. There has been a lot of controversy surrounding this specific platform lately because people don’t seem to agree with their T&C’s and what they want to do with customer funds in different scenarios.

•             Kraken 

This exchange is very popular among Europeans and Americans and it offers very low fees at 0.16% per transaction. It also requires an ID check before making any withdrawals which makes it less private but safer at the same time compared to other platforms that allow anyone to trade anonymously.

•             Coinbase           

This is a popular service for buying cryptocurrency, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and ETC.  They also have a wallet, exchange, and retail outlet where you can spend your cryptocurrencies in real life. The fees for buying or selling are at 1.49% which is a bit pricey but everyone knows about them and uses them so if you want to invest in crypto currencies it’s one of the best options out there.

•             Bitstamp           

This Crypto platform has been around since 2011 and they are considered safe, especially because they store nearly 98% of their assets in cold wallets. Fees are pretty high here at 1.5% per transaction but that won’t be an issue if you’re planning on making larger investments because exchanges like Kraken will be much cheaper when trading with bigger quantities of Bitcoin.

•             Bittrex              

This exchange was founded by experts in computer science and cyber security because people were having issues with security on different platforms so they decided to create one where all accounts would actually be protected by multi-factor authentication. This platform does not accept any fiat currency deposits so if you want to start here you need to havesome bitcoins already.