Bitcoin has engulfed the world since its launch back in the year 2009. It is a type of a crypto currency or digital currency, as many people like to call it. Invented by Satoshi Nakamoto, Bitcoin forms a part of a peer-to-peer digital payment system that allows the users to transact directly among them without using an intermediary. All these transactions are verified before being processed and are being recorded on blockchain for future reference.
The popularity of Bitcoins has grown to such large extents in less than a decade of its existence that a number of Bitcoin trading platform have emerged over the internet. Today, we will look at some of the factors you should look for while Bitcoin trading and the best Cryptocurrency trading markets you will find on the internet.
Factors to look for during Bitcoin Trading
All the different Bitcoin markets are available on the internet to facilitate easier Bitcoin transactions. However, there are certain factors which you should keep in mind before using these Bitcoin trading platforms.
One of the best ways to confirm the authenticity of the Bitcoin market is the trade volume the market is handling on average. The higher the number, the more trusted the platform is. Usually, you can find all the trade value data about different markets on the platform themselves or on Google.
One of the biggest reasons why you prefer using Bitcoin to real-world transactions is the amount of safety measures it provides and it would be foolish if we choose a Bitcoin trading platform that is not secure enough. Always ensure the platform you are using has as many security measures and encryption protocols embedded to keep your account safe.
Nothing comes for free and certainly these platforms fall under that category. You will be levied a number of fees and charges for using the platform. However, each platform charges its own fees. You can compare a number of different Bitcoin markets as mentioned below for the various fees they will charge their customers and choose the best among them for the amount of currency you wish to trade in future on the platform.
These three are among the most influential and easily identifiable factors which decide how popular the trading platform is. Given below is the list of best Cryptocurrency trading markets currently in operation.
One of the most trusted and best Cryptocurrency trading markets across the internet currently is Cex.io. You can clearly see on the homepage of the website that it is a trading platform for Bitcoin and also provides functions such as Bitcoin Wallet where you can sell and buy Bitcoins. This website is available to almost all the countries in the world which makes Bitcoin trading comparatively easier than most other such platforms. The presence of a strong encryption algorithm helps to protect your data and keep your money safe.
Another very popular Bitcoin trading platform is LocalBitcoins.com. This trading market is very different to most of the other platforms you will visit because it works as a Bitcoin forum where you can actually interact with the other person before selling or buying Bitcoins. On this platform, you will directly deal with another human being to sell or buy Bitcoins which gives a good explanation of the changing Bitcoin exchange rates and payment methods as you are not dealing with any online computer.
Coinbase is regarded as one of the most professional Bitcoin trading platforms across the internet. The ease of buying and selling Bitcoins makes in among the safest environments to trade Bitcoins. This platform uses the ‘Dollar cost averaging’ method to calculate the current exchange rate. Initially, the platform restricts your buying potential to a very low amount. However, you can raise it higher as you start trading Bitcoins frequently on the website.
LakeBTC is among the Best Cryptocurrency trading markets in terms of high-end security options and features that it provides to all its customers. In addition to it, the transaction fee the platform levies on its users is very much competitive to every other trading platform since the launch of the website. The huge currency support of the website ensures that you can trade in most of the common currencies from across the globe for Bitcoins.
BitStamp has emerged as one of the biggest Bitcoin market with an average trade volume of around 225,000 over a 30-day period. Additionally, BitStamp is the first fully ‘Nationally Licensed Operator’ which ensures high security for your trades. This platform accepts almost every currency in exchnge for Bitcoins and utilizes the very simple ‘Percentile’ system to calculate the transaction fees. This website also uses the two-step authentication method for added security purposes to keep your account safe.
Kraken makes for one of the best Bitcoin trading markets you will come across in the whole industry because of the number of security feature they utilize to keep your account safe. This platform makes good use of the two-factor authentication alongside the GPG and PGP encryption algorithms to protect your account. You can also choose to implement and initiate a ‘Master Key’ to added another layer of protection to your account. Kraken provides its users with two different Bitcoin wallet options – semi-cold and hot wallets. These are useful to store currencies which can be used for different trading purposes.
The Last Words
Today, you can find a number of different Bitcoin trading platforms across the internet. While the number may be huge, we have provided you with the best Bitcoin trading platforms according to us depending upon their trade volume, transactional charges that are levied and the number of security options they provide.
This currency is emerging as one of the best alternate and safest ways to transact and trade money online and the platforms mentioned above in this article are some of the best Bitcoin trading platforms on which you can buy and sell Bitcoins easily.