Best Exchange for Buying Cryptocurrency

These days as you know everyone wants cryptocurrencies. But for that, you'll need a crypto exchange or a platform to purchase and sell digital currencies like Bitcoin, Ethereum, and Dogecoin to join in on the fun.

But don’t worry we searched through the leading exchange offerings and reams of data to discover the finest crypto exchanges to assist you to choose the appropriate one.

All of them, however, come with one some pros and cons. But before you get in always remember that Cryptocurrency investments are speculative, and should only be made if you're willing to endure huge price swings and a reasonable risk of losing your entire investment.

Kucoin

KuCoin was founded in September 2017 and has since grown to become one of the most popular cryptocurrency exchanges, with over 8 million registered users in 207 countries and territories across the world.

Let’s start with what you can buy and how you can buy it, KuCoin allows you to buy, sell, and store a variety of cryptocurrencies. 

It has a popular mobile cryptocurrency app as well as an online interface. To reduce fees and gain incentives, you can purchase KuCoin's native coin (KCS).

Moving on to account verification, it is optional, so users can trade cryptocurrency using only their email address. 

However, you should be aware that in order to use its sophisticated features, you must first validate your account. Because of crypto restrictions in the United States, Americans are unable to do so.

KuCoin provides both supervised and unsupervised services. As a result, you can either keep your crypto assets on the KuCoin exchange or connect a third-party wallet and trade straight from there. For those who wish to preserve control of their crypto, this is a fantastic choice.

Trading bots, leverage, and margin are some of the less typical services offered by KuCoin.

And about the fees part, Kucoin, like other exchanges, lets users pay lower costs by trading more or holding at least 1,000 KCS. 

The maker/taker charge starts at 0.1 percent and decreases as you progress through the levels. If you choose to pay in KCS, your fees will be much lower.

Even the highest charge, 0.1 percent, is less than what you'd pay on many large exchanges. You must, however, consider the deposit and withdrawal fees.

KuCoin even claims that deposits are free, however, this is only true if you deposit crypto; you'll have to pay to deposit fiat (conventional) money.

KuCoin has also partnered with a number of third-party providers to determine the best offer based on the amount of money you want to deposit and how you want to pay. 

To convert US dollars into USDT, for example, costs can range from 1% to 3% when using a credit card. Right now the charge for deposits of less than $500 with Google Pay was roughly $15.

So what do you guys think $15 is cheap or not? Let me know in the comment box below.

Now obviously let’s dive into the security concerns on Kucoin.

To secure the crypto assets housed on its exchange, KuCoin has teamed with Onchain Custodian. This includes Lockton insurance against crimes like hacking. It also has a bug bounty scheme in place to encourage ethical hackers to report system flaws.

KuCoin claims to keep customer assets in cold storage (which makes it harder to hack). However, it is unclear what fraction of the population is kept offline.

However, it is unclear what fraction of the population is kept offline. It needs to maintain some funds online in hot wallets so consumers can make withdrawals and trades, but knowing what percentage is held where would be helpful.

And let me remind you that at the end of last year, some KuCoin hot wallets were hacked, however, the damages were entirely compensated by insurance. KuCoin was also quick to respond and open about what had occurred.

KuCoin's user-level security is also quite good. Users are encouraged to set up two-factor authentication and a secondary password for trading on the platform. 

So this exchange is also secure and is quite famous in the world. And if you want to use it then it’s completely safe to start with.

Kraken

Now moving on to the another hot favorite exchange which is obviously none other than Kraken.

KuCoin was founded in September 2017 and has since grown to become one of the most popular cryptocurrency exchanges, with over 8 million users. Kraken is one of the oldest cryptocurrency exchanges, having been founded by Jesse Powell in 2011, just two years after Bitcoin's debut. 

Despite having completed its development phase in 2011, the Kraken platform went live in September 2013, following two years of testing and enhancements.

Today, this crypto exchange based in the United States has earned a reputation for providing top-notch security, advanced trading tools, and a diverse selection of coins for millions of registered users from 207 countries and regions around the world.

Talking about the deposits and type of deposits you can fund your Kraken crypto exchange account using a debit or credit card, cash payments through wire transfer services, or crypto deposits.

Users can also fund their accounts with cash deposits made through a wire transfer from a bank account to Kraken's MVB Bank. Remember that all cash deposits on Kraken will be subject to a 72-hour withdrawal hold.

At the time, Kraken exclusively accepts Bank of America as a source of funds for its US consumers.

However, before making any crypto deposits, you must first validate your account. You'll be able to deposit any of the supported digital assets on Kraken from other exchanges or your hot or cold wallet once you've been verified.

On Kraken, depositing cryptocurrency is a simple process. Simply select the cryptocurrency you wish to deposit on the dashboard and create a new deposit address for it.

And moving to the security of Kraken, it has not seen a major hack in its ten years of operation, unlike the majority of crypto exchanges. 

According to CER's ranking, the platform is also the best crypto exchange in terms of cybersecurity and proof of funds. CER (Crypto Exchange Rating) is a platform that provides crypto exchanges with a sophisticated rating service. You can also confirm by yourself.

And lastly talking about the fees structure like most crypto exchanges, Kraken incentivized market makers who provide liquidity with a lower fee rate. 

Other factors with an influence on the fees paid include a 30-day volume metric that rewards those who trade more over the past 30 days with lower fees.

Coinbase

Now moving on to the second biggest exchange the most popular and the exchange which has the most influence on the currencies because once if any currency gets listed there then you can see the price of that coin go 2x easily.

Yes, you got it right I am talking about Coinbase.

Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase was also the first big crypto company to go public in the United States, debuting on the Nasdaq in April at $381, giving the cryptocurrency exchange a fully diluted market worth of $99.6 billion.

Perhaps you've never heard of Coinbase before. Or maybe you're not sure what it is at all. Here's a basic rundown:

Coinbase is a cryptocurrency exchange that allows you to purchase and sell a variety of cryptocurrencies. Coinbase can also be used to convert one cryptocurrency to another, as well as to send and receive cryptocurrency from and to other users, just like any other exchange.

Talking about the deposits the platform is really simple to use. Users can see their balance and a watchlist, similar to many other trading apps, which allows them to track the prices of various cryptocurrencies. 

Traders can also see which cryptocurrencies are making the most significant moves. Coinbase is also launching Coinbase Card, a Visa debit card that allows customers can earn rewards by spending their portfolio's assets.

Coinbase unveiled a new direct deposit service in September that allows users to have their salaries immediately deposited into Coinbase and have their money automatically paid as Bitcoin or another cryptocurrency.

When it comes to fees, Coinbase charges a fee for trading on its platform. Trading fees differ between Coinbase and Coinbase Pro, with Coinbase fees being greater and more difficult. 

When you buy or sell cryptocurrencies, Coinbase charges a spread of roughly 0.50 percent, as well as a Coinbase Price, which is a flat fee or determined by factors including where you're based and what sort of payment you're using.

And obviously, if it’s the second biggest platform so that makes it quite understandable how secure it would be.

Binance

Now moving onto our last and biggest exchange of this globe with no competition in market cap and with the best team and community. Yes, this is Binance for sure.

Binance began as a cryptocurrency exchange in 2017 and has since grown to become the largest player in the $2.6 trillion cryptocurrency market. Multiple crypto exchanges, numerous cryptocurrencies, the Trust Wallet and its TWT token, a Token launchpad, and more are all part of the exchange giant's ecosystem.

According to data provider CryptoCompare, Binance executes more trades for cryptos like Bitcoin and Ethereum each day, totaling $76 billion, than its four biggest competitors combined, according to The Wall Street Journal.

Years of essentially unrestricted, unregulated expansion for Binance, and the cryptocurrency sector in general, are coming to an end.

Italy, Japan, Canada, the Cayman Islands, Thailand, Malaysia, the United Kingdom, the United States, South Africa, and Singapore are among the nations where the crypto exchange is facing legal issues.

Many investors, not just financial authorities, are likely to file a lawsuit against Binance, seeking damages for money lost during a severe downtime.

Many investors are having difficulty figuring out how and where to sue the crypto exchange to court because it has no recognized headquarters.

Despite its importance to the crypto ecosystem, Binance's legal issues could have a significant negative influence on cryptocurrency pricing.

But still, it holds the largest number of bitcoins and it is the biggest exchange used globally for different purposes. Binance has the minimum of fees among all top contender along with best of services and the security is also the best as the customer supports is quick to respond and have also recovered millions of dollars lost while some glitch happens.

So there is no need to discuss the features of binance because it has everything in starting from Nfts, to future market, spot and earning option to the staking of multiple coins.

Binance can be directly linked to any wallet and it offers a lot of other options too which are not available in other exchanges.

In the end, I would urge you again to do your own research before getting into any exchange because sometimes it also varies from state to state or maybe countries that some exchanges don’t really run there.

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