Cryptocurrency investment is the latest trend and hottest topic in the financial world today. Digital coins like Bitcoin (BTC) and Ethereum (ETH) still dominate the crypto stage while other altcoins like Dogecoin (DOGE) quietly follow the trends.

With so much hype around the crypto market, lots of individuals also want to join the space. But how do they go about trading and investing in cryptocurrency? Well, the first and vital step is to register with an exchange platform.

Crypto exchanges give investors access to the crypto market allowing them to trade various digital coins for a profit. No doubt there’s plenty of exchanges to choose from but not all are ideal for you. In fact, a lot of these exchanges are outright scams.

Therefore it is necessary to consider several factors before choosing an exchange platform. Some of these factors include security measures, trading fees, ease of use, and more. To assist you in finding the ideal crypto exchange that suits your trading style and needs, we’ve made a list of some of the reliable crypto exchanges in the crypto sphere.

Coinbase

It shouldn’t come as a surprise to see Coinbase on the list. Coinbase is one of the biggest crypto exchanges in the world. Established in 2012, the exchange platform has improved significantly through the years.

Coinbase is an ideal platform for beginner traders courtesy of its simple user-friendly interface. Beginners can buy, sell, and store various digital coins with this exchange platform. Coinbase also provides up-to-date information on its platform keeping investors abreast of major happenings in the crypto sphere.

Pros

• High level of security
• Reliable and trustworthy
• Smooth user-friendly interface
• Good selection of coins and tokens to invest in

Cons

• Slow to adopt latest mainstream digital coins
• High fees
• Users don’t control private keys in the wallet

Binance

Binance is also another popular exchange platform. Since its establishment in 2017, Binance has grown rapidly to become one of the crypto exchange giants. Binance offers more than 500 digital coins globally in more than 180 countries.

Binance was able to gain this much popularity and grew rapidly because of its wide altcoin offerings. Binance lists more than enough altcoins on its trading platform offering more than enough crypto assets to its users. Binance also makes trading so accessible to traders that they can start trading for as little as $10 on Binance.

Considering the Binance user interface, this exchange is best for intermediate and expert traders. However, Binance also has a Lite version specifically designed for beginners. It simplifies basic trading processes but its functions are quite limited

Pros

• Low transaction cost for general and spot trading
• A wide range of digital coins are available
• Efficient security measures
• High positive user review

Cons

• Limited customer support
• Not available in the United States

Kraken

Since its establishment in 2011, Kraken has demonstrated itself to be a reliable and secure crypto exchange.  While the exchange platform has basic features for beginner traders, its pro version is where it shines best.

Advanced features like crypto futures and margin trading are offered on the pro version attracting many investors across the globe. The exchange platform also allows investors to stake their digital assets for a stream of income. Kraken can be utilized by beginner, intermediate, and professional traders.

Pros

• High level of security
• Advanced trading features like futures trading and margin allure professional traders.

Cons

• Poor customer support service
• Issues with 2FA
• Pro version is too complex for beginner traders

Gemini

The Winklevoss twins launched Gemini in 2014 and ever since has solidified itself as one of the most reliable and trusted exchanges in the crypto world.

Gemini is a regulated crypto exchange that takes pride in itself as regards compliance and security. Gemini kicked off operation reading only Bitcoin and Ethereum but today, the exchange lists over 50 digital coins on its platform including, Bitcoin Cash, Litecoin, and Gemini dollars (GUSD). The GUSD is a U.S dollar-backed stable coin.

Pros

• Simple to use user-friendly interface
• Available in all 50 states in the United States.

Cons

• Convoluted fee when not trading spot.

Conclusion

You can never go wrong choosing one of these exchanges in the crypto market like bitcoin code. Each of these exchanges has its unique disadvantages and advantage so ensure you evaluate them against one another. This will help you choose one that best shots your experience level and trading style.