Getting into the world of cryptocurrency is much different than what many even experienced traders are used to. This isn’t like buying stock in a company or trading commodities in a speculative fashion. The world of cryptocurrency is relatively new, even more so than the foreign exchange (Forex) markets, and even the lingo hasn’t fully worked its way out yet.
That being said, it’s hard to argue with the idea that cryptocurrency like bitcoin and the many that have been set to follow. While Bitcoin is the most well known by far and definitely the king of the cryptocurrencies at this point (other cryptos are even referred to as Altcoins), so while most platforms will focus mainly on Bitcoin, there are some cryptocurrency trading platforms that will allow you to trade others, as well.
This is critical information to know seeing as how if you’re interested in Altcoins like Ethereum, Ripple, or Litecoin, there will be some platforms that let you trade these while others will not. Matching up the right platform with your specific needs is going to be crucial if you want to get the most out of any trading experience.
Dozens To Choose From
There are dozens upon dozens of reliable trading platforms to choose from, and the sheer number of them out there can be very intimidating to someone walking into the trading world for the first time. How do you know which ones are reliable? How do you know which platforms give you the best conditions?
Unfortunately (or fortunately, depending on how you look at it) there isn’t a lot of regulation to these markets. While this is part of the major appeal of the potential that cryptocurrency has to offer, it can also make jumping in safely harder.
Short List Of Top Providers
While it’s always important to realize that markets like this are very fluid and technology can suddenly change things on a dime, there are a few current platforms that are consistently mentioned as being among the best.
Etoro, based out of London, is consistently ranked as one of the best options. With an overall A score when it comes to trust, the ability to use multiple currencies and payment options and a reliable platform that allows plenty of cryptocurrency trading, it is hard to argue with what Etoro has to offer.
Coinbase is out of San Francisco and is the closest American equivalent to Etoro, ranking right behind them when it comes to reliability, trustworthiness, and ease of use. Both of these options are beginner friendly, something that can actually be quite difficult to find when looking at platforms.
When it comes to finding a cryptocurrency trading platform, it is important to understand what exactly you are trading for, how the markets work, and the fact that you will need to broker a sale at some point to change into real world currency, if that’s the direction that you intend to go. However a little research goes a long way to helping you find the right match for your needs!