Defining your objectives is very important if you are serious about cryptocurrency trading and/or investing.
One of the critical decisions to take is the cryptocurrency trading platform you should dive into. The wrong platform could lead you to disappointments and major cracks in your finances.
Are You Looking to Trade or Invest?
When vetting for the top exchange out there, you should know the specific goals you’re looking to accomplish. Do you want to trade in and out of positions or invest in the long-term?
Once you have figured that out, you can now look into different cryptocurrency trading platforms or exchanges. There are platforms that allow users to buy and sell digital assets like Bitcoin (BTC) and that which they can also transfer to their wallets and hold for a long time.
If you are a serious trader then you might be more interested into derivatives. These are trading products like options and futures at which value is based on the prices of the underlying assets.
Derivatives can be settled using digital assets or cash depending on the exchange you’re into. However, these contracts are local to the host exchanges and cannot therefore be transferred to other platforms or any other desired locations.
Managing and Diversifying Your Portfolio
If you are looking to invest or trade, you must deeply investigate the critical aspects of exchanges such as security, country regulations, and flexibility; among other important details.
With the recent reported failings, fraud, and theft happening in exchanges such as “wash trading”, it’s so important now more than ever to pick a trustworthy and winning cryptocurrency trading platform.
With a lot of new and budding exchanges coming out, new and inexperienced traders and investors would be enticed to jump into these shiny objects without enough research to support their decisions and knowledge to manage the risks.
It’s crucial that when you sign up for a new trading platform, you must segregate your personal and business information from the phone numbers or email addresses that you use.
You have more than 5,000 digital assets to choose from which you can trade and invest on. However, many people, by pure instinct, would choose to focus on the titans, like Bitcoin, Ripple, and Ether.
But, you would know as a matter of fact, that the best move is to diversify investments and explore all markets or beyond your comfort zone. With diversifying as a strategy, you get to have a wider range or market which will help you evolve in the trading arena.
With that in mind, you need to jump into a crypto trading platform that would provide you an extensive array of assets. So, basically, the more options you have, the more freedom you have to customize your portfolio to keep it attuned to your needs and market shifts.
Binance – The Best Exchange in Crypto Space
Binance quickly wins the popularity vote for a very good reason. Its name is a mix of the words “binary” and “finance”.
It provides users the highest standards in terms of security and speed as it has the maximum capacity of processing 1.4 million orders per second.
Binance which launched in 2017 is the brainchild of developer Chanpeng Zhao. The funds which fueled the exchange came from their ICO. Ever since then, the exchange has been known to be a trusted catalyst and disruptor in the crypto space.
This crypto-to-crypto trading platform has been extremely popular for their excellent level of competitiveness in exchange rates, low transaction fees, wide range of markets, high liquidity, transparency, discounts, and security.
Binance supports more than 150 cryptocurrencies that include Bitcoin, Litecoin, Ethereum, and their very own digital asset – BNB tokens. The list continues to explode in numbers.
Like any regular exchange, Binance offer services such as trading, fundraising, kisting, and withdrawal of digital coins.
More so, users who would want to launch their own cryptocurrencies can raise funds with ICOs.
In addition to providing traders and investors an exchange platform, Binance also provides other services or tools that can support the entire blockchain ecosphere like Binance Labs and LaunchPad. You can also create APIs with Binance.
This is one of the titans and first cryptocurrency trading platforms which remain to be on the pinnacle because of its wide range of cryptocurrencies available to buy and sell, huge clients base, and secure and efficient trading platform.
Binance is our top cryptocurrency trading platform because it has proven its mettle in the industry.
It’s a force to reckon with as they are able to provide unsurpassed benefits to cryptocurrency enthusiasts from a trustworthy trading environment, unbeatable low fees, massive options in terms of digital coins, liquidity, and it being a match for both newbie and experienced traders and investors.