Statistics have revealed that over a million people started using cryptocurrency between the years 2022 and 2023. With this remarkable surge and increasing popularity in the cryptocurrency industry, it is crucial to stay informed about the best platforms to buy and trade digital assets. This is why we have compiled a list of the best platforms you can buy cryptocurrency from in 2024. Let’s get to it.
Best Cryptocurrency Platforms in 2024
You must be wondering why the platforms in this article are referred to as the best. Well, it is because aside from being legit, they each have features that make them stand out. The platforms and their features are as follows:
1. Independent Reserve
Since their establishment in 2013, they have gone on to win several awards including the Australian Blockchain Industry Awards for Cryptocurrency Exchange of the Year.
With high-security standards to safeguard cryptocurrencies and advanced trading tools to help users execute their trading strategies effectively, the platform has put itself above several others.
They also have an Over-The-Counter (OTC) trading desk, which allows users to trade large volumes of cryptocurrencies directly with the platform, providing liquidity and minimizing market impact. When it comes to user reviews, Independent Reserve has generally received positive feedback. Users appreciate the platform’s intuitive interface, responsive customer support, and reliable trading experience. So if you ever want to buy BTC in large quantities, keep in mind that Independent Reserve is the best bet yet.
Binance is one of the largest cryptocurrency exchanges in the world today. It is particularly popular for its competitive rates and elements that are peculiar to it alone. For example, it has a Blockchain called Binance Smart Chain (BSC). This enables faster and cheaper transactions compared to some other networks.
The platform also has its native currency called Binance Coin (BNB). It has various use cases, including discounted trading fees, participation in token sales, and more.
Binance also offers a vast selection of cryptocurrencies for trading, giving users access to a diverse range of digital assets.
Binance Academy is one other unique feature of the Binance exchange platform. It is a fantastic resource provided by Binance to help users expand their knowledge about cryptocurrencies and blockchain technology with the help of articles, videos, and courses that delve deeper into specific areas of cryptocurrency and blockchain.
So you see, by having a variety of options to choose from, making transactions easier, and providing a valuable space for personal growth and on-the-job learning, Binance serves as more than just a cryptocurrency exchange platform.
3. Trust Wallet
Don’t be surprised! Cryptocurrency wallets can be used to buy cryptocurrency and Trust Wallet offers that privilege. Its association with Binance gives it that uncommon feature. It is also versatile, being that it was designed to suit both iOS and Android users.
Its versatility extends to its ability to support a wide variety of cryptocurrencies and tokens issued on different blockchain platforms.
It equally offers features like portfolio tracking, transaction history, and the ability to connect with decentralized applications (dApps). It employs the use of advanced encryption techniques that serve as extra security by protecting your private keys. This is a very notable feature as cryptocurrency users are now skeptical because of the risks of hacks.
Lastly, its integration with decentralized exchanges (DEXs) gives room for you to trade cryptocurrencies directly from your wallet without the need for a centralized exchange. You can swap tokens and participate in decentralized finance (DeFi) applications, all within the Trust Wallet app.
Overall, Trust Wallet is a reliable and convenient mobile wallet for managing your cryptocurrencies.
If you’re looking for extra-extra security, Coinbase is your go-to platform as it is one of the few sites in the cryptocurrency space that use biometric authentication and private key control.
With Coinbase, you can earn various cryptocurrencies by completing educational tasks and quizzes. There is no other way to learn about different digital assets while earning some crypto than this.
Cryptocurrency staking on Coinbase is one other feature that allows users to earn rewards by holding certain cryptocurrencies in their Coinbase accounts. When you stake a cryptocurrency, you essentially lock it up in your account to support the network’s operations. In return for your contribution, you can earn additional tokens as a reward.
This is usually the first pick for beginners because of the learning-while-passively-earning edge it has over other platforms. It is not just where they buy and sell crypto, it is an avenue for growth.
In terms of trading options, Kraken is advanced in the sense that it includes margin trading and futures trading. With these, the user’s position is leveraged and their profits are increased in the long run depending on individual skill. Another unique feature is Kraken’s extensive selection of cryptocurrencies available for trading, including both popular and emerging coins.
Kraken Security Labs is a subset of Kraken that is dedicated to researching and identifying vulnerabilities in the cryptocurrency space. By proactively identifying and addressing security risks, Kraken aims to provide a safer trading environment for its users. This commitment to security is a standout feature that adds an extra layer of trust and protection.
Users of Kraken appreciate the platform generally for its focus on privacy and commitment to regulatory compliance.
While the cryptocurrency market is dynamic and ever-changing, these platforms have shown promise in 2023 and can serve as reliable options for buying and trading cryptocurrencies in 2024. However, like any exchange, there may be occasional complaints about transaction delays or technical issues, but overall, each platform mentioned here has a strong reputation in the cryptocurrency community.
In all, remember to conduct thorough research, consider your investment goals, and prioritize security when choosing a platform.