What Are Top 5 Cryptocurrency Exchanges in the Market?
Top five Cryptocurrency Exchanges are the ones that are most commonly used by beginners and experienced traders alike. With the increasing number of financial investors, increased demand for Cryptocurrency exchanges is also on the rise.
Due to this, more entrepreneurs, investors, VC’s and brokers are trying hard to provide a good platform for Cryptocurrency traders (particularly for new investors). This need has been further increased by the development of more advanced tools and applications that can make trading easier and faster than before. The most popular platforms in the market today are the two big ones – CoinBase and GDAX.
The two of them are considered as the standard and first choice for trading. They have their own advantages and disadvantages as well.
One of the advantages of CoinBase is its ability to have a fully automated system for trading. With this feature, the trader can trade instantly with the help of an easy interface. With its advanced features like live news and updates, you can also monitor the prices and the performance of the chosen coins in real time. The trader will also have the opportunity to set his own limit of transactions and stops and take his profits or stop losses as per market conditions. And as far as the trading software is concerned, it is fully automated which means that the trader will be able to set it up, set the settings for the currency pair you are interested in and then just sit back and relax while the robot trades your market automatically.
Another advantage of GDAX is that it uses the Gemini exchange pair. This means that when you deposit to your account, you are using the GDAX. This can be quite an advantage if you are new to the market as you can place bets and wait for the price movements of the chosen currency pair to rise before making a move. After you make a move, you can either close the trade or withdraw the amount you have made.
The list of advantages of these two platforms should not be over-emphasized. However, you must also keep in mind that they are still not the top in the industry.
In terms of trading platforms, we would again say that it is not so much a case of what is the best, but of who has the biggest and most reliable platform. For instance, if you want to have a large margin of winning or a high chance of winning in a trading session, you should go for the platforms that offer you such benefits.
There are many trading platforms available in the market today’s market. However, choosing the right one for you requires some homework and study. You must read and understand the different trading platforms as well as they have different features.
You should try to understand how they work, how they operate, how they function, how they track the market etc. The trader should also do some extensive research on the particular market and then choose the platform that suits him best.