Cryptocurrencies are definitely a hot topic, and maybe you’ve already got your feet wet in this relatively new financial world. Perhaps you’ve already been doing some trading and have grabbed a few bitcoins and Ether. Your obvious next step is to diversify your crypto portfolio.
Where do you start?
Blockchains have a certain infrastructure and smart contract systems. How do you know which platforms are best for diversification? Do you look for infrastructures that are compatible with Ethereum smart contracts? Or do you need to understand where smart contract developers are coming from at all? Diversifying can seem overwhelming and confusing just about the time you are making headway. That’s the purpose of this guide to the six best trade platforms to diversify your crypto portfolio.
This platform is based in Asia and launched as recently as 2017. But that hasn’t stopped it from becoming very popular. It’s a great platform for beginners and is one of the first-mover exchange to list altcoins – faster than almost any other platform. They offer a beginner and an advanced trading interface.
Based in South Korea, KuCoin is set up similar to Binance, in that they quickly list new altcoins faster than most of the other international exchanges. They are also very fast at confirming crypto deposits. This means traders can start trading quickly. Digital assets are credited to your account in a matter of seconds after the transaction is confirmed. They also have a great discount for those trading in KuCoin shares rather than other cryptocurrencies.
Gdax is associated with the US’s most popular exchange, Coinbase. It doesn’t have as many trading pairs as some of the other exchanges, but traders can trade between currencies like Bitcoin, Litecoin and Ethereum as well as fiat currencies. It’s got a lot of volume though. Coinbase just started support for Bitcoin Cash and promises to add more altcoins soon.
Gemini, a US based crypto, and self-billed as the “next generation digital asset exchange.” The downside is that it only takes American investors as members. It’s got one of the easiest sign-ups out there and there are no deposit or withdrawal fees. You will have to put up with a trading fee though, at .25 percent for every buy and sell.
Bittrex, also a US based exchange. This highlight of this platform is that it has more than 250 trading pairs. They’ve already established a solid trust and demonstrated their desire to take care of traders. The most popular pairs are ETH and BTC. Presently, Bittrex doesn’t offer fiat-to-crypto-pairs meaning no USD, Pounds or Euros. But investors are able to buy USDT or tether tokens by way of bank wire transfers that can be used for crypto to crypto exchanges.
Bitstamp, an exchange that caters to clients from Europe. Right now, investors are able to trade in USD on the site. Big time traders will like how they can fine-tune their accounts. As one of the oldest exchanges, it’s highly trustworthy. The down side is it’s not designed to be easy for beginners, experienced traders are going to love it though.