User-Friendly Platforms for Bitcoin Trading – Features List
Bitcoin is the most significant cryptocurrency on the market. It was the first to appear and it still enjoys the biggest hype all over the world. When you ask average Internet users about cryptos, they will mostly connect the notion of cryptocurrency directly to Bitcoin, just being unaware of altcoins.
Both newbies and experienced traders seek exchange platforms that will be reputable, secure, and multi-functional. However, one of the primary conditions for a cryptocurrency exchange to be taken into account is its user-friendliness. But what exactly does that mean?
What is a user-friendly platform?
The interface is the first thing that should be easy to navigate. Although, there are a lot of other aspects that a cryptocurrency exchange must meet in order to be considered user-friendly. Take a look!
If an exchange wants to take a lot of money from your trades and withdrawals – well, that is not really nice of them, is it? Therefore, for a platform to be considered user-friendly, it needs to have low fees, which will not repel users from registering on it.
If you live in a country where you are not allowed to register on a certain platform, that can make you feel excluded. However, this may not have connections to an exchange being user-friendly as it can be your country’s policy.
Payment options are directly related to the way exchanges care about their users. The logic here is simple – if they offer more payment methods, they try hard to make their exchange open and available for all users.
Interface & tools
Finally, the interface itself is the most crucial factor. All users want well-structured layout, navigation, graphs, and charts. As soon as you enter the website, it should be clear how to make your first trade.
Some exchanges require a thorough verification process for new members. This often includes providing various proofs of residence, a selfie with a document or a credit card, and a lot of other personal information. It is not seen as user-friendly by a lot of crypto traders who want to keep the level of anonymity as high as possible.
Open for new members
Some exchanges are suitable for newbies. It means that they do not immediately bombard you with dozens of options and keep things rather simple. If you are new to crypto, this would be an essential factor.
Which exchanges should I consider?
The following exchanges meet most of the criteria listed above. Take a look at them and choose which one suits your needs most.
CEX.IO: Fiat-to-crypto/crypto-to-crypto trading
CEX.IO is often regarded as the most user-friendly platform for cryptocurrency trading. First and foremost, the exchange can be accessed by the users from almost any country. In fact, it covers 99% of the globe and boasts a large user base of over 2.8 million of active traders. Due to the fact that CEX.IO focuses mostly on Bitcoin, it offers a high-liquidity marketplace and a low spread.
Binance: Crypto-to-crypto trading
Many professional traders would agree that Binance is the most popular platform when it comes to crypto-to-crypto trading. There is an immense choice of altcoins you can trade, and the list is continuously expanding. The most popular cryptos here are Bitcoin and Ethereum.
When it comes to the trading fees, they will vary depending on your 30-day volume and won’t go higher than 0.1% for both takers and makers. What’s more, Binance has its own coin BNB. If you conduct the trades using this altcoin, you will get significant discounts.
Binance covers almost all countries of the world and is now considered one of the largest marketplaces for cryptocurrency. While it is fairly new to the industry, Binance enjoys over 10 million users so far. What’s more, the exchange allows for different verification levels. You can actually trade at Binance without verifying your identity, but in this case, you will be limited to withdrawal of only 2 BTC per day. Still, if you take time and submit some ID documents to get to a higher verification level, your withdrawal limits will be extended to 100 BTC per 24 hours.
User-friendliness is essential for crypto services. Even though two of the most convenient exchanges have been mentioned above, your choice shouldn’t be limited to them only. There are still a lot of other platforms that you can learn about and benefit from their services.
If you are unsure where to register, research the market more, make your own list of popular cryptocurrency exchanges, consider their specific features and check whether they can fit your trading needs.