Since its emergence in 2009, Bitcoin has maintained its fame as the leading cryptocurrency worldwide. Initially, the notion of virtual money was veiled in mystery. Investors were reluctant to use it for fear of cyberattacks. Another concern was the potential crackdown on developers. Since then, crypto coins have gained worth and become a popular financial tool in India.
As of this writing, Bitcoin is valued at 11,403.20 US dollars. In June 2017, its price was just over 2,700 US dollars. Such impressive jumps are also accompanied by flexibility, lower transaction fees, and enhanced security. Today, the appeal of crypto is undeniable. Discover three trustworthy exchanges for traders and investors.
Currency Exchange 1. Coinbase
This company appeared three years after the advent of Bitcoin. In the beginning, it provided clients with digital wallets. Today, this San Francisco-based brand offers tools for traders of Bitcoin, Ethereum, Litecoin, and other altcoins. By 2017, the number of users had grown to a spectacular 9,900,000. This figure included 46,000 merchants and 10,000 developer apps. Coinbase’s market capitalization has reached 10 billion US dollars.
The team developed a special platform for traders and investors. GDAX is a fully regulated exchange. It offers versatile tools like charts, order placement, limit, and stop. The charts have an intuitive interface, so anyone can use them with ease. You may also change attributes like a candlestick.
On the plus side, security is reliable, and fees are reasonable. Traders from 32 countries may join in. All crypto coins are insured, and beginners can easily get used to the interface. On the downside, customer support could be improved. Coinbase also accepts a limited number of payment methods.
Currency Exchange 2. ForexTime
Cryptocurrencies are also exchanged through Forex platforms. ForexTime is a well-established brand with operations in different countries. Its clients may buy and sell CFDs on crypto coins: Bitcoin, Ethereum, Litecoin, and Ripple. This instrument allows you to make a profit from price changes alone.
A contract for difference is a special type of derivative. There are CFDs on commodities, market indices, and other underlying assets. When you trade CFDs on Bitcoin, you essentially bet on its price. The broker pays the difference between its worth at entry and exit. Learn more about the benefits of cryptocurrency trading.
Cryptocurrency CFDs are bought and sold via MetaTrader 4 and MetaTrader 5, two popular environments. Users have easy access to charting tools, limit orders, and features like Stop Loss and Take Profit. Both bull and bear markets can work to your advantage.
CFDs are also leveraged, so margin trading is possible. The broker lends a portion of their funds, so you can open larger positions. This is a double-edged tool, though. With higher volumes, come higher potential profits and higher risks. Still, as you do not have to trade actual coins, security is less of an issue.
Another company from San Francisco, Kraken is among the biggest exchanges. Today, eight years after establishment, it boasts immense volume and liquidity. Clients can exchange crypto coins in American or Canadian dollars, British pound sterling or Japanese yen. Kraken is often described as the most secure Bitcoin exchange.
The company has achieved worldwide recognition. It has a partnership with the first cryptocurrency bank. Its trading volume and prices can be seen on the Bloomberg Terminal. Finally, Kraken is also a court-appointed trustee for Tokyo’s government.
In terms of trading experience, you will be impressed by the variety of intuitive charting aids. Traders see all the necessary details like Bid, Ask, and spread. Market depth is also reflected. The tools display cumulative volume and volume of trades.
Besides, clients can get an order book. This shows all long and short positions with their price and volume in real-time. Another section reflects recent trades with their time, volume, price and type of order. Finally, Kraken has modest deposit fees, and its support is praiseworthy. However, beginners may find the system too sophisticated.
Start Trading Today!
The world is moving towards a global cashless economy, and crypto coins are the future. These systems are not controlled by governments and banks — at least, directly. Traders enjoy lower costs and high potential profits. If you are one of these progressive financiers, try these reliable exchanges. Whether you buy crypto directly or invest in CFDs, trading can be lucrative. The best systems provide efficient support, low fees, and cutting-edge software.