As a beginner or an expert cryptocurrency trader, sometimes making the right choice of the best app for cryptocurrency trading or exchange is usually a big task that most of us face while getting started with our trading journey.
In this post, I’ve decided to share most of the commonly used apps by crypto traders around the world.
- Cash App
With over 56 million users in 32 countries, we’re the world’s largest cryptocurrency exchange. On our simple, user-friendly app and web platform, you can securely buy, store, and sell cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and many others.
If you’re looking for a low-cost exchange to purchase or sell bitcoin, your options will be limited by your desired payment method. When purchasing bitcoin, you can pay using a credit or debit card, a bank transfer (SEPA, SWIFT, or ACH), or even an alternative payment source such as PayPal, Skrill, or Netteller.
Look for an exchange with the lowest deposit fees if you want to save money. Buying bitcoin through a bank wire transfer is generally thought to be the most cost-effective mode of payment.
The most expensive payment method is buying bitcoin with a credit card or PayPal, followed by those exchanges that offer alternative payment . The rationale for this is that chargebacks from credit card companies and PayPal provide buyer protection, whereas bitcoin transactions are irrevocable.
There are so many crypto trading platforms online that actually charge based on their fee. This fee sometimes can be caused due to the blockchain network fee which actually causes the high rate of transaction fee in most platforms.
How to Trade Without Paying Any Fees
To trade with free costs, follow the steps outlined above, which may include selecting an exchange that is running a promotion, such as FTX. It is unlikely that they will also provide a means of depositing fiat currency (although not impossible, Bittrex had a solid zero-fee promotion a while back and they offer fiat trading and deposits).
If you need to acquire crypto first and then transmit it to an exchange that allows you to trade with no fees, you should do something like this:
A bank deposit can be used to fund a Coinbase account. You can sign up for Coinbase and deposit funds by following the steps outlined below. This strategy is used to save expenses because utilizing your bank account to fund your account with dollars is free.
Money should be transferred to Coinbase Pro.
Using Coinbase Pro, purchase Dai, BTC, ETH, LTC, or any coin that trades on the exchange you want to trade on (it is cheaper than using Coinbase directly).
Transfer the Coin you purchased from the old exchange to the new one.
Optional: Purchase some of the exchange’s coin in order to reduce margin and withdrawal fees (BNB on Binance does this for example).
Trade for free on the new exchange (typically for the duration of the promotion).
To trade back to dollars, transfer to a coin that trades on Coinbase.
You’ll pay for your initial trade via Coinbase Pro and your fees for transporting bitcoin between exchanges with this technique, but you’ll pay no subsequent fees.
Unfortunately, because to tremendous demand, the fee is extremely high. As the market capitalization grows, so does the number of transactions waiting in line. Furthermore, the number of transactions that can be stored in a single block (which is only 1MB) is limited.
A bidding war occurs because the blocks are tiny and there are many transactions waiting to be included. People want to make sure that their transaction gets included, therefore they raise the mining charge, which has led to today’s exorbitant mining fees. As a result, in the last two months, mining fees have fluctuated between 10 and 52 euros.
Understanding crypt currencies alone can be daunting, and if you’re new to crypto trading, finding the right , cryptocurrency trading platform to buy and sell popular assets like Bitcoin, Ethereum, and Litecoin can be another challenge.
What Are The Most Reliable Crypto Exchange?
These are Reliable Cryptocurrency Trading Platform
The most common method of purchasing cryptocurrency is through exchanges. I recommend these exchange websites to newcomers because they are simple to use and set up. Payment Method: The majority of the exchanges accept payments via bank transfer or credit card, with some accepting PayPal in cryptocurrency trading platform.
I do recommend getting started with Binance because it’s beginner friendly and flexible. Click here create a Binance account now to start trading cryptocurrency.
Here are the best US exchanges to buy Bitcoin and other crypto currencies in crypto currency trading platform
- Coinbase (high quality, trustworthy exchange)
- FTX.US (best US exchange for leverage trading)
- eToro (popular social trading platform for crypto)
- Kraken (best exchange for safety and security)
- Gemini (good reputation, competitive fees, OTC desk)
- Crypto.com (leading crypto app and trading platform)
- CEX.IO (best for beginners, supports credit cards)
- Changelly (fast, instant platform to swap coins)
- Swan Bitcoin (best for DCA)
- Coinmama (secure and reliable)
Before purchasing cryptocurrency, you should consider the following five factors:
Location: It’s critical to verify your country’s rules to learn how and where you can acquire bitcoin.
Payment method: Credit card, bank transfer, and even cash are the most frequent and accepted payment options for purchasing cryptocurrency. You’ll need to find a website that accepts the payment type you want to use because different websites accept different payment methods.
Type of Cryptocurrency: Not all cryptocurrencies can be bought on every website. You’ll need to locate a website that sells the cryptocurrency you wish to purchase.
Each website has its own set of fees. Some are inexpensive, while others are not. Before creating an account on any website, make sure you understand the fees. You don’t want to waste time establishing your identity only to discover that the fees are excessive!
How Much Money Do You Have?
You should never invest more than you can afford in any venture.
We are committed to assisting anyone considering cryptocurrency investing in making well-informed and safe decisions. We are dedicated to providing unbiased information about app for cryptocurrency trading, cryptocurrency trading platform for our readers.