Whether you joined the cryptocurrency craze as it was heating up, joined the bandwagon as the hype (and price) of Bitcoin began to soar, or are still reluctant if it’s is here to stay, there’s no denying the recognition of this type of currency at a universal level. As more and more get involved with this type of investing, it can be overwhelming where to go, and some of the best online trading platforms for cryptocurrency can help dip your toes into the phenomenon.
Coinbase is the gold-standard for online cryptocurrency trading, thanks to the integration of its GDAX platform, now known as Coinbase Pro. You can instantly buy and sell any cryptocurrency using the default Coinbase interface, or you can switch to Coinbase Pro to get real-time candlestick charts and a better outlook on what the future of the cryptocurrency will be. Best of all, Coinbase offers no exchange fee for makers and a bare minimum exchange fee for takers, so avid traders will want to make this their online trading platform of choice for cryptocurrency.
For security-minded traders, Kraken is the best online cryptocurrency exchange. It has been around since 2011 and offers several popular cryptocurrencies with real-time candlestick charts and analysis tools available for experienced traders who want to dig in deep. The only real downside to Kraken is that the only way to fund your account is through other cryptocurrencies or bank transfers. Coinbase offers other options like credit and debit cards, making it more robust for newbies to get on board with online trading. That being said, Kraken’s fees are much lower than Coinbase, sitting at just 0.36% for takers compared to the 1% that can be applied to orders using the Coinbase platform. Both Kraken and Coinbase have a robust trading interface, making them ideal options for anyone who wants to get into day-trading cryptocurrency.
Circle is an online trading platform for cryptocurrency that aims to add a more personal touch to how we think about cryptocurrency trading online. If you’ve ever used a money exchange app like Square Cash or PayPal, you’re familiar with the concept behind Circle. Instead of using fiat cash for these person-to-person transactions, Circle allows you to buy and sell cryptocurrencies after you’ve funded your account. It also features integration with the Poloniex exchange, so you can trade any cryptocurrency you hold more actively.
Robinhood offers a fee-free trading platform for most popular cryptocurrencies; the only catch is that it is an invite-only program right now. Robinhood doesn’t earn a commission on any of the trades you execute, making this the ideal platform for small-time traders who are looking to dabble in online trading without getting their feet wet. With the addition of the cryptocurrency market, the app is now a one-stop shop for all your stock and cryptocurrency trading needs. The app is available for free on both iOS and Android and connects with most bank accounts in the US.
CEX.IO sets the gold standard for online cryptocurrency trading by offering both newbies and more experienced users a vast feature set to help with your online trades. The buy and sell process on CEX.IO is instant compared to some other exchanges, making it better able to capitalize on the ups and downs of cryptocurrency trading. CEX.IO is also the best option for anyone looking to get into automated trading, as it features several API tools. CEX.IO charges takers between 0.1-0.25% per transaction, while makers will pay absolutely no fees. Margin trading is also available for more experienced users who trust their instincts concerning the market.