Technology is advancing day by day. From banking with paper money, we have now reached the modern era of digital money, also known as the digital currency. Who knew hundred years from now people would be trading with cryptocurrencies and actually investing in it. With more than 1,600 digital currencies circulating around the world and hundreds of crypto trading platforms flourishing in the 21st century, as we have entered the era of computers, and our lives might solely depend on technology some day.
Crypto Trading Methods
Cryptocurrency buying and selling are among the most overrated and overhyped discussion matters of today. There are two ways to buy cryptocurrencies: by fiat currency like dollars, yen, pound etc, or by altcoin exchange, that is directly through digital assets like bitcoin, ethereum, ripple, bitcoin cash, etc.
Certain cryptocurrencies do not allow their buying through fiat money; you can only trade or buy them with other digital currencies. Fiat exchanges can be done by traditional payment methods like cash, credit cards, and bank accounts. Fiat exchange is one of the basic methods investors use to enter the crypto world.
Altcoin exchange, on the other hand, is buying cryptocurrency with other digital currencies or by trading them with other digital assets. It does not involve the use of traditional payment methods as mentioned above.
Crypto exchange platforms
Now there are platforms that allow you to buy cryptocurrencies through fiat money only, called Fiat Cryptocurrency Exchange, and then there are other platforms that enable you to exchange digital currencies, called Pure Cryptocurrency or Altcoin Exchange.
Fiat Currency Exchange Platforms
Coinbase is the most basic and easiest way into the crypto world. It is the most trusted place to buy, sell, and manage your digital currency as a beginner. Based in San Francisco, California, it allows customers to buy basic cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple etc, from credit cards or banks accounts.
Coinmama enables you to buy digital currencies like Ethereum and Bitcoin with fiat money. It is the fastest, safest and easiest way to buy cryptocurrencies through Mastercard and Visa. It is also a cryptocurrency broker that sells Bitcoin, Litecoin and Ether for a price higher than most Fiat Exchange companies. One of the benefits is that coins are received within a few minutes of the transaction.
GDAX is the only platform that allows you to buy cryptocurrency for free, there are no extra charges or tax. Although, GDAX will soon be bought by Coinbase, (on 29th June), and is being named after Coinbase Pro. It provides better facilities and more benefits than the regular Coinbase and GDAX.
Altcoin Exchange Platforms
Binance is one of the best and widest crypto exchange companies. It has low fees, around 0.05% and it requires you to deposit cryptocurrency before you can begin trading. So far, it has the most convenient trading app used by most crypto investors.
Bittrex is among the top 10 crypto exchange platforms of the world. With high security, convenience, and fast trading, it keeps its users happy and satisfied. It updates after every few years and launches new updates. It also supports a bunch of coins giving its users a wide variety to exchange digital assets.
Cryptopia is not among the widest trading platforms of the world, but it has a different aim: to enable trading of small currencies with not much name in the crypto world. It trades currencies that are not even available on big trading platforms like Binance and Bittrex.