Hearing that someone had paid 10.000 Bitcoins for two pizza at a local restaurant sound crazy now, Although the story may seem funny or disappointing because Laszlo Hanyecz didn’t know how much Bitcoin would be worth after five or ten years. Of course, the future is uncertain and what is the latest today might become obsolete tomorrow. As such, in 2009, Bitcoin first appeared thanks to an individual or a group of people going by the name Satoshi Nakamoto; it had zero monetary value. Fast forward to today and that amount of 10.000 Bitcoins has a value of nearly $400 million. Following the growth rate of digital currencies, and the influence of creating a decentralized payment system across the globe, there are nearly 10,000 cryptocurrencies in existence as of March 2022 though many of these cryptos have little to no following or trading volume, and some enjoy immense popularity among dedicated communities of backers and investors.
Referring to such prospects and demand, a number of websites have been introduced and generalized in terms of a platform for trading cryptocurrency, including a wide range of digital currencies. With the view of mitigating your hassle of finding the best website to trade crypto, here are some of the best crypto exchanges and most credible websites:
Of all the websites for crypto trading out there, Binance stands out and supports most of the digital currencies available with an average daily volume of $76 Billion. Based in Hong Kong, developer CZ or Changpeng Zhao launched Binance last July 2017 and has been supporting more than 200 coins for withdrawals and deposits. Hailing from blockchain.com’s technical director, Zhao’s venture, in the beginning, had a valuation of $0.1, which has become a multi-billion dollar company. According to the Wall Street Journal report, at present, Binance processes more trades for cryptocurrencies such as bitcoin and ether each day, $76 billion worth, than its four largest competitors put together. Such a significant amount of transactions reflect the number of users who rely upon this platform for trading cryptocurrency.
Another important factor that has been articulated through their each-day trading amount is the number of cryptocurrencies they support since they have the biggest targeted audience- open for all. Of late, Investopedia reported that Binance is currently offering crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB). Not only did its credibility and the number of digital currencies it supports increase, but it made cryptocurrencies accessible to people from all over the world. Once upon a time when cryptocurrency was thought quite complex, which deprived the general people. Binance started playing its role by including the traditional buy-and-sell method to a whole other. For instance, the service allows anyone to use their credit card to buy 31 different cryptocurrencies. Yet, when it comes to USD purchases, the service comes with a premium that can be as high as 3.5% for dollar purchases.
1.1 BinanceNFT
Binance recently added NFT (non-fungible token) as their platform where you can easily buy and sell the NFT art. New technology or innovation may come quite troubling to explore, but Binance has made NFT trading more accessible and convenient than the already existing companies. This inclusion not only fulfills the demand of their customers but influences the digital currency to a great extent.
2. BitMart
Another most exciting and popular platform is BitMart for trading several types of cryptocurrencies through one website. Founded in 2017 and based in the Cayman Islands, BitMart has a wide range of crypto trading facilities, making it the leading crypto liquidity provider. Indeed, this platform didn’t just limit itself to small and mid-cap cryptocurrencies; instead, they went the extra mile to incorporate the most popular and innovative ones in their profile. This evolvement reached such a position that they launched and circulated their own digital currency right after a year of their inception. Named- BitMart Token (BMX) provides token holders with trading discounts and other benefits on the exchange. The exchange has also added numerous new features over the years, including staking, lending, savings products, and derivatives trading.
As soon as BitMart brought the cryptocurrency trading facility into the market, it was getting a positive response which led them to flourish as one of the top global crypto-trading services providing websites with more security protocols and enhancing users’ experience. Such growth in the market has rewarded this trading platform with over 9 million users across 180 countries. Apart from being reliable, secure, and client-oriented features of BitMart, it has the reputation of circulating and trading over 800 digital currencies and tokens on the internet. Besides several types of digital currencies it offers, you can also trade art through this platform with your cryptocurrencies. This is what makes BitMart stand out in the crowd where customers don’t need to transfer their currency to another channel, spending extra bucks to trade NFTs. Along with the features, there are certain benefits that BitMart offers, such as you can go for staking and savings products, buy and sell buy/sell crypto feature using a range of payment methods with just a few
Things to consider before trading crypto-currency
However, before investing your money, it is essential to consider their current position.
1. Consider trading methods
For instance, even though Huobi is somewhat complex compared to the mentioned sites, you need to understand their process and the payment methods they offer in terms of trading through their platform. Furthermore, doing so would create an impression on your confidence about trading or investing your money on these platforms.
2. Market trend analysis
Another important aspect that needs to be paid heed to is the trend and pace with the current market. Of course, you want to trade your cryptocurrencies through a platform where the price will remain stable according to the market or, more likely, higher. In such as, if you are going for other trading sites like coinbase.com, or crypto.com, you need to observe their ongoing trend and also run a compare contrast analysis to get the notion of their offerings based on the current market.
Wrapping Up
As the market is constantly growing and the types of crypto are increasing, it is vital to stick to a single platform where you will be able to get access to all the existing and new currencies and comfortably continue trading. Apart from the websites mentioned above, some other credible cryptocurrency websites include but are not limited to coinbase.com, crypto.com, and many. Why wait when you can now wear your crypto trading hat and create your own future.
If you a new to Binance.com here is a video on how to use their website: