The most well-known cryptocurrency platforms

There are many reasons why you should enter the world of digital currencies. It could be because you want to invest in promising assets, or because you want a wallet to make payments. Either way, you need to explore reputable cryptocurrency platforms to choose the most convenient one.

Below you will find information about some of the most important ones at the moment. We hope this will help you find one that best suits your needs.

Which cryptocurrency platform should you choose?

The competition between numerous cryptocurrency platforms can make it a bit difficult to choose one. Therefore, we have summarized the information about each of them as follows.

Binance

The best cryptocurrency exchange platform. Binance is probably the largest digital currency exchange service in the world. It has been operating since 2017 and is registered in the Cayman Islands. Its founder, Changpeng Zao, is a software developer who previously designed high frequency trading software. He is the creator of Binance Coin (BNB) tokens in 2017 and Binance Smart Chain in 2020. The latter works through an authority test that combines an anticipation test and an authority test. In 2021, Binance Coin was the cryptocurrency with the third largest capitalization in the cryptocurrency market:

  • It has cryptocurrencies to trade like Binance, Shiba Inu, Solana, Ethereum, Polkadot, Bitcoin and others.
  • They use big data systems and artificial intelligence technologies to prevent attacks, as well as partnerships with e-security companies.
  • Offers Trust Wallet, which can be downloaded from digital stores App Store, Google Play, Android, macOS, Windows Mobile, Linux deb and Linux rpm.
  • Your commission is 0.9% for every transaction, be it buying or selling cryptocurrency.
  • You have enabled payment by debit, credit, bank transfer and individual (P2P).
  • Has a mobile application that allows you to carry out transactions of sale and purchase, and its own authentication system.

Bitfinex

The company was founded in 2012 in the Virgin Islands by Hong Kong-based iFinex Inc. and initially engaged in P2P lending with a margin only in Bitcoin. It is a sophisticated service that has been in the market for some time now. It offers an exchange space that is suitable for experienced traders. It also offers margin trading and loans. Besides, it offers trading in derivative contracts that give you more room for speculation:

  • It accepts as payment fiat currencies such as dollars, euros, British pounds, Japanese yen and the renminbi. It also allows you to make payments with cryptocurrencies.
  • Contains the Exchange Wallets, Margin Wallets and Funding wallets available for fund exchanges, long, short and leveraged trades, and to provide funding margins.
  • In its portfolio of operations it has Bitcoin, Ethereum, Tether, Polkadot, Luna, Ripple, Solana, Tron or Litecoin.
  • Offers an application for smartphones that can be downloaded from Google Playstore and from the AppStore. It allows you to carry out buying and selling operations with agility.
  • It requires a charge of around 0.0750%, 0.0200%, 0.100% according to the type of operations carried out.
  • It has a two-step or 2FA authentication system, a universal second factor, and advanced API key permissions.

Bitmex

In this case, we are dealing with a platform for trading digital currencies and for trading derivatives. This is a company that is part of HDR Global Trading Limited, which is registered in Seychelles. Arthur Hayes founded it in 2014 along with Samuel Reed and Ben Delo. In 2016, it added perpetual futures, a very popular derivative product, to its portfolio of operations. It can also support extensive APIs and has an industry-leading level of security:

  • Your charge is a fee of 0.05% on all your products and the Maker Rebate of 0.01% on all your contracts.
  • You have a hot wallet that is not in the hands of either party and deep cold storage is employed for most funds.
  • They use a complex method that protects the virtual wallet, and that maintains a continuous surveillance of its system.
  • Trading with Bitcoin, Ethereum, Onda, Dogecoin and Cardano, among others, is enabled.
  • To operate from a mobile phone, you have to download its application available for iOS in the Apple Applications store or from Google Play for Android.
  • They only accept payments and withdrawals in Bitcoin.

Bitpanda

It is a company founded in 2014 in Vienna, Austria. It started as a low-cost investment service, but over time they have developed a range of simple and easy to use financial products. It now has 600 members in its team and over 3 million users. It has a PSD2 service provider license, advanced security and offers a great user experience. It allows you to trade over 100 digital assets and automates regular investments with savings plans:

  • Accept credit and debit cards, along with bank transfers, or virtual wallets.
  • Charge 0.05% maker / taker commissions. If the volumes are large, the amount is less.
  • It has in its service the possibility of trading with Polkadot, Cardano, Chainlink, Ethereum, Bitcoin, and Avalancher.
  • Works with AML5 services, under strict security, protection and code encryption certificates.
  • Offers a credit guarded in offline wallets.

Bittrex

This service operates as a digital asset business as per the business plan filed with the Authority under the Digital Asset Business Act 2018. It provides a place to buy, sell and store cryptocurrencies. Its headquarters are located in Liechtenstein and Bermuda. It runs on the latest Bittrex technology, provided by Bittrex Global. It has a customized trading engine with scalable features that guarantees real-time order execution:

  • It is possible to make payments with international credit cards such as Visa or MasterCard.
  • Offers the Bittrex Global application that works for Android and iOS, special for mobile devices.
  • Contributes to a hosted web wallet for crypto asset exchange that keeps wallets cold, hot and manages the transfer of funds securely.
  • Its platform trades with Tether, Jasmy, Ethereum and Bitcoin, among others.
  • It has an SSL encryption system, and with two-step authentication procedures.
  • Rates range from 0.05% to 0.75% depending on the volume of the operation. Each transaction is calculated based on the amount traded, the purchase price and the rate.

Coinbase

It is probably one of the most popular platforms. It is the largest site in the world and is the platform of choice for cryptocurrency startups. It has over 68 million verified users and is present in over 100 countries. It operates on a complete structure with more than 2,100 employees. It offers a secure way to participate in the digital asset market:

  • Works under U.S. regulation. Securities and Exchange Commission. It also offers the creation of vaults or vaults that provide additional money protection.
  • Includes a mobile application that is downloaded for free from Androd or iOS.
  • It offers secure access to its platform to carry out purchase and sale transactions and also works as a digital wallet.
  • You can pay with internationally valid credit cards, virtual wallets or bank transfer.
  • Its service has XRP, Litecoin, Ethereum, Bitcoin and Bitcoin cash, which are some of its 16 cryptocurrencies.
  • Your fee is 1.49% for the purchase of cryptocurrencies and 1% for the sale.

Coinmama

It is a financial platform that aims to make buying digital currency easy with complete security. Since 2013, they have been offering evolving services that are customer-centric and focused on the best results. It allows individuals and businesses to purchase bitcoin and other altcoins in over 188 countries. It has more than 3,000,000 users. Its headquarters is located in Dublin, Ireland. It offers a strategic platform designed to facilitate transactions for its users. It also offers a very competitive rate in the market:

  • It has the cryptocurrencies Bitcoin, Uniswap, Dogecoin, Bitcoin Cash, Cardano, Ethereum, Ripple, Litecoin, Tezos, and Chainlink.
  • Coinmama's market rate is based on XBX + 2%. Added to this is 3.90% in purchase operations and 0.9% in sales operations.
  • Maintains a good reputation for security thanks to its advanced encryption and constant fraud prevention activity.
  • You do not have a wallet, you only send the coins to a specified address. The logs can be followed to find out the address to which they are being sent or to confirm a payment.
  • You can operate with credit, debit or bank transfer cards.

HitBTC

It is a cryptocurrency exchange that has been in operation since 2013. It offers a redemption system, state-of-the-art technology in its search engines, advanced APIs and more than 500 instruments available to users. It has a reliable, efficient and very strong structure. It offers good data security, price widget and performance metrics and system availability including real-time trading:

  • It works through its mobile application, with advanced features.
  • For its services, it collects a percentage that varies with the cryptocurrency traded, which can range from 0.021% to 0.057%.
  • Regarding the means of payment, it works exclusively with cryptocurrencies.
  • It can be traded with Bitcoin, XMR, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash and Zcash.
  • It has advanced encryption, with 2 verification steps and offline storage.

Kraken

This is one of the most relevant cryptocurrency trading websites. It offers a very efficient service, low fees and effective, comprehensive and affordable funding alternatives. It has been operating non-stop since 2011. It was founded by Jesse Powell. For beginners, there are explanatory guides on cryptocurrencies, videos and podcasts when it comes to cryptocurrency trading. It also works with investment banks, mutual funds and independent trading firms:

  • The cost of its service is 0.9% for operations with any currency and 1.5% for any pair of cryptocurrencies or currencies.
  • Cryptocurrencies are kept in what is called a cold wallet, which is specially protected.
  • Offers advanced options such as secure coin storage, 24-hour security, information monitoring and control, along with testing your own system to prevent unwanted penetration.
  • Its application is available for Android in Google Play and for iOS in the App Store. It allows the purchase, sale and exchange in an agile and secure way.
  • Its portfolio includes Bitcoin, Ethereum, Solana, Ripple and others that make up about 50 digital currencies.
  • You have enabled payment with debit and credit cards Visa and Mastercard.

Kucoin

This platform was founded to make bitcoin trading easier for beginners. It was founded in 2017 and has become one of the most popular cryptocurrency exchanges. It has over 8 million registered users in 207 countries and regions around the world. It operates in Seychelles and is working on creating multilingual communities so that all users can log in 24/7 and trade efficiently:

  • Supports only cryptocurrencies and purchases through P2P in external services, as a means of payment.
  • Apply commission charges depending on the currency, or the type of operation.
  • Includes an encryption system, an insurance policy and a high security P2P interface.
  • Does not offer a wallet service with digital currencies.
  • It can be traded with Bitcoin, Ethereum, Litecoin, Ripple and KCS which is the native token of Kucoin.

Localbitcoins

It is a site where bitcoin is traded, with options for users to create ads and set the payment method along with the exchange rate. It also has a chat room for trading and offers escrow protection. It targets exchanges between individuals, with a fast, efficient, and customized process. It is based in Finland and relies on the financial control authorities there:

  • It has an effective system that protects the data of its users and the money stored on the platform.
  • Users who create ads must pay 1% with the operation completed. Incoming transactions to other Bitcoins wallets have a minimum amount.
  • Provides a virtual wallet that is available for free.
  • You can pay by credit or debit card or by bank transfer.
  • Works only with the purchase, sale and exchange of Bitcoins.

Poloniex

Poloniex is one of the largest cryptocurrency exchanges in the world, founded in 2014 by Tristan D'Agosta. According to documents, the company's office was previously located in the United States in Wilmington, Delaware, but is now based in Boston, Massachusetts. At the time of this writing, the exchange has 107 currency pairs and a daily turnover of over $13 million. Initially focused on the U.S. market, the exchange has attracted altcoin traders from around the world due to its popularity and high trading volumes. Poloniex, or Polo, has long been the most well-known altcoin exchange. It offers a large number of cryptocurrency pairs, so experienced traders can build a large portfolio of their choice in a short time:

  • Simple and accessible interface, despite the absence of a Russian version of the site.
  • High rotation of operations, more than 140 directions of change. Low system fees for transactions: 0 to 0.25% ("manufacturer" commission: 0% to 0.15%, "receiver" commission, 0.1% to 0.25%).
  • High level of security, two-factor authentication, three-step verification (voluntary).
  • Practical analytical and technical tools.
  • In short, Poloniex is an exchange that provides optimal conditions for trading cryptocurrencies, and not only experienced trading participants, but also beginners can prove themselves here.

Paxful

Paxful is one of the leading international cryptocurrency and bitcoin exchange platforms. Our mission is to bring financial freedom and social justice around the world.

Paxful connects over 300 financial networks and offers unique benefits to sellers and buyers. This platform has enabled millions of people around the world to conduct transactions without resorting to traditional banking services.

The company was founded in 2015. The organization is headquartered in New York, in addition to having offices in Estonia, Hong Kong, the Philippines and Johannesburg. Paxful currently employs around 500 people worldwide, and this number is growing steadily:

  • The Comodo system protects data by encrypting it with 256-bit SSL.
  • Buying or selling cryptocurrencies through an escrow account ensures transparent transactions and minimizes the risk of fraud.
  • Two-factor authentication - Protect assets with complex passwords and 2FA.
  • Each user is assigned a rating, so traders can choose the most reliable counterparty.
  • All disputes between bidders are resolved by moderators.

What should you look for on exchange platforms?

Regardless of which platform you choose to store your cryptocurrencies on, it is important that you consider the most important factors. You do not have to stick to the information that only one of them provides. You must take data from a list of possible services that you can use.

One of the most important details is undoubtedly the fees and commissions that the service will charge. Generally, these are based on a certain amount or on the type of transactions carried out.

You should also check what payment options are enabled, whether it works with affordable credit cards or e-wallet services that work in your country. And it is also important to know what cryptocurrency wallet it offers. That is, which digital currencies can be traded on a particular platform.

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