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The cryptocurrency market is moving very fast these days, while so-called trading platforms have become the cornerstone of the crypto world. These allow investors to invest in and trade several types of cryptocurrencies securely, and they also let them buy and store currencies in the cloud or maintain full control from any place around the globe.
Therefore, most investors are looking for the best cryptocurrency trading platforms of the year 2023 that offer minimal fees at affordable costs and provide all the services that an investor may need.
This article will shed light on some of the best platforms of the year that offer reasonable trading prices and fees, plus attractive services that are by no means worse than those given by well-known powerful trading platforms.
What are Cryptocurrencies?
Cryptocurrencies are an electronic form of money using encryption techniques for fast and safe financial transactions via digital means. It depends on technology that is generally known as “blockchain”, a way of keeping transaction data encrypted and secure.
These are some of the popular cryptocurrencies: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Cardano, Polkadot, and many more. Cryptocurrencies are also used for trading and investment.
They can also be utilized for online payments or to transfer money between individuals all over the world quickly and at a low cost. Further, cryptocurrencies might be used in the future as a medium to conduct purchases and transactions in the digital world on a wider scale.
You may sometimes need to exchange these currencies for others or send them to digital wallets or credit cards; all that is possible on many sites, including swapforless, which offers an ample range of services related to cryptocurrencies, such as sending and receiving them easily and quickly.
An Overview of Cryptocurrency Trading Platforms
Once you open an account with an online broker, you’re going to get a trading platform. OK, so what is a cryptocurrency trading platform? It’s sort of a place-a website or program-finding a good place where traders can buy or sell cryptocurrencies based on live charts.
Moreover, trading platforms enable investors to receive trading signals and to use technical analysis tools. They will securely keep your currency and transactions safe.
They also grant you full ownership of your assets, ensuring effortless and affordable buying, selling, sending, receiving, and trading of cryptocurrencies.
Read also: What is cryptocurrency trading and how to benefit from it in 2024?
Best Cryptocurrency Trading Platforms for 2023
Finding a reliable trading platform is crucial for safely and securely buying and selling cryptocurrencies. So, let’s explore some of the best cryptocurrency trading platforms for 2023, characterized by ease of use, security, and low fees.
Binance Platform
Binance is one of the best and most trusted cryptocurrency trading platforms of 2023. It suits users who want to trade or invest in more reliable cryptocurrencies with relatively low trading fees.
Binance offers over 400 different cryptocurrencies for trading, along with excellent charting capabilities and data.
How to Sign in to Binance
To register with Binance:
- Go to the Binance website and click the “Register” option in the upper right corner of the page.
- Enter your account information, password, and email address.
- Click the button to agree to the platform’s terms and conditions, then click the registration button.
- Go to your email to verify your account by clicking the “Verify email” option in the email message.
- After activating your account, log in using your email and password, and click “Continue.”
- A warning will appear asking you to activate two-factor authentication. Choose Google Authentication to receive messages and easily access your account.
- The application will then be downloaded to your device. If you already have this application, click directly on “Scan QR Code“, open the application on your phone, and then click the plus sign icon to scan the code.
- Click “Backup Key” and save the code so you can retrieve it if you lose or forget it.
Coinbase Platform
Coinbase is a popular trading platform that provides a simple and easy-to-use experience, allowing users to seamlessly buy, sell, trade, and send Bitcoin and other cryptocurrencies.
Coinbase is a well-known and popular company in the cryptocurrency market, but it may charge higher fees than other platforms due to its many unparalleled services and features.
How to Sign in to Coinbase
Signing up for Coinbase is very easy and can be done through the following steps:
- You must reside in a country that supports cryptocurrencies.
- Register a new account by entering your first name, last name, email, and password to create the account.
- You will then be asked to verify your email address used to register on Coinbase by clicking the activation link in the email.
- Link your account to your mobile phone number by selecting your country’s phone number, then enter your number to receive a 7-digit code to your phone. Enter it again on the website and your phone number verification will be successful.
- Enter your personal information and account details.
- Verify your identity through the “settings” icon by uploading a picture of your national ID or driver’s license.
- Choose your preferred payment method.
Huobi Global Platform
Huobi Global is a global cryptocurrency platform based in Singapore and one of the largest exchanges in terms of volume and liquidity.
It has made impressive advancements among platforms and expanded its operations to most countries to allow investors to trade cryptocurrencies.
It has launched its services both within and outside the United States and is currently ranked among the top 10 trading platforms globally in terms of trading volume.
How to Sign Up for Huobi Global
The steps for signing up for Huobi Global are as follows:
- Go to the platform’s website.
- Click “Sign in” at the top, fill in your account details (email and password), and click “Create Account.”
- Enter your country, email, and password twice, then go to your email and activate the account as with other platforms. You can also register using only your mobile phone without an email.
- After activating your account, you can upgrade your account by verifying your identity by sending a document, either a passport photo or a national ID photo.
Crypto.com Platform
Crypto.com can be considered one of the best cryptocurrency trading platforms of 2023. Many users benefit from it due to the significant discounts offered to large holders of its Cronos (CRO) token.
The platform offers over 250 cryptocurrencies with low trading fees, resulting in over 10 million users due to its numerous advantages.
How to Log in to Crypto.com
Here’s how to register on Crypto.com, a process that takes no more than 10 minutes:
- Go to the platform’s website link.
- Access the registration page and enter your email and password.
- Verify your account using your name and a photo ID. You will need to upload a picture of your national ID.
Kraken Platform
Launched in 2011 and headquartered in the United States, Kraken is known for offering various trading services with relatively low commissions. It also provides rewards to its users, supports many cryptocurrencies, and is one of the best cryptocurrency trading platforms offering spot trading, derivatives, and indices.
How to Log in to Kraken
Create an account and register on the Kraken platform by following these steps:
- Visit the Kraken platform website.
- Click the “Create Account” button on the right side of the homepage.
- Fill in the required fields such as email, username, password, and place of residence.
- Agree to the platform’s terms and policies, then click the “Create Account” button at the bottom of the registration form.
- Go to your email to copy the verification code and paste it into the designated field on the website.
- The website will now take you to a page to secure your account through several options. You can choose to secure your account via an “Authenticator App”, such as Google Authenticator.
- Now open your account. To enable deposits and withdrawals on the platform, you must verify your account to the required level.
- The website will then take you to the next step, where you can choose the account type that suits your needs.
- Complete the remaining requirements to enable deposits and withdrawals, which may take 24 hours.
Advantages of Cryptocurrency Trading Platforms
Considering the best cryptocurrency trading platforms used by many investors worldwide, we can identify several advantages:
- Cryptocurrency trading platforms include a large number of available cryptocurrencies that can be invested in and traded among users.
- The primary role of most of these platforms is to reduce trading fees and commissions to facilitate trading among investors.
- Most of these platforms use modern security tools and techniques to protect user accounts and secure their trading operations.
- Most platforms offer excellent technical support for investors and are user-friendly to accommodate all investors worldwide.
- Some platforms offer full compatibility with popular cryptocurrency wallets, allowing users to manage and store their cryptocurrencies securely and easily.
Read More: Payoneer: The leading global payment platform
Disadvantages of Cryptocurrency Trading Platforms
Although cryptocurrency trading platforms have helped many users through the services and features they offer, several disadvantages may bother some investors:
- Despite the security features, most trading platforms are not subject to legal regulations, so users may be exposed to fraud and privacy violations if they do not use a reliable and proven platform.
- Some of these platforms do not support mobile use.
- Despite their primary role in reducing trading fees and commissions, some cryptocurrency trading platforms still charge high fees for withdrawals or trading certain cryptocurrencies.
- Many trading platforms do not support depositing funds through popular credit card wallets like Visa and Mastercard.
- Some of these platforms may require users to secure and verify their accounts using national identification.
Finally, we hope this article has helped you decide on one of the best cryptocurrency trading platforms for your needs in 2023.
However, please understand the trading market and factors contributing to the increase or decrease in the price of any kind of cryptocurrency. Never underestimate good prospective cryptocurrencies that have great value, as they are keys to success in cryptocurrency trading.
