Trading crypto has become a very popular ‘job occupation’. With the rise of cryptocurrencies, millions of people worldwide have dived into this world as they were presented with a chance to make a hefty profit. The beauty in the crypto exchange market is that there are numerous cryptocurrencies to choose from, and with the right strategy, you can make money, regardless of which currency you choose.
At the center of trading and making a profit with cryptocurrencies are trading platforms. Thanks to trading platforms, people can sell and buy Bitcoins in the most hassle-free way. That is exactly the topic that we wanted to discuss in this article. We are going to explain everything you need to know about them.
You Must Register To Use Their Services
Logically, to use the services of trading platforms, you must register. The good thing is that the process of registration is very simple and lasts just a minute. All you have to do is supply the chosen trading platform with some basic information about yourself. After that, you choose a payment method and deposit money into your account.
When everything is complete, you will gain full access to their services. Some trading platforms even utilize advanced AI systems to analyze the market and make accurate predictions on how some cryptocurrencies will fluctuate shortly. As you may know, cryptocurrencies are subject to frequent changes because they have a high volatility rate. These AI systems will help you battle the volatility and maximize your revenues.
Each Trading Platform Has Its Strengths
When you decide to register and start trading with crypto, it is essential to remember that each trading platform has its unique strengths. Some of them are most suitable for novice traders, while some are the best option for more experienced traders. There are different trading platforms available online and you can opt for any as per your requirement, such as – crypto.com, Coinbase, GEMINI, Stormgain, WAZIRX, and many more.
Not only that, but each one has different services, fees, accepted payment methods, and the number of cryptocurrencies that can be traded varies. So, it is important to do proper research and find the trading platform to suit your needs the most. The UK crypto exchange list contains all of the best trading platforms and lists their biggest pros and cons. The list will help you determine which platform will meet your requirements and help you make a solid profit.
They Are A Far Better Option Than Crypto ATMs
Crypto platforms are not the only places where you can trade with cryptocurrencies. Some ATMs are directly connected to the Internet and will allow you to trade. Most of these ATMs only accept Bitcoin as it is the most dominant cryptocurrency on the market.
But, there are a few reasons why you should not opt-in for them. First of all, ATMs are not as accessible as trading platforms. Many countries globally do not have any ATMs of this kind, and those that do, have a limited number of them. You cannot just walk on the street and stumble across a crypto ATM.
If that is not enough, ATMs are known for charging massive fees. Some research has shown that they can charge between 10% and 25% on all trades, which is an insane number. The point of trading crypto is to profit while reducing fees, which is not what ATMs provide you with.
Bitcoin is the Most Used Cryptocurrency
We mentioned earlier that Bitcoin is the most dominant cryptocurrency in the market. That is because it boasts tons of advantages over the competition. The greatest advantage concerns trading platforms and making a profit. Bitcoin is by far the most valuable cryptocurrency on the market. Not only is its current value between $44,000 and $60,000, but experts also believe that it has the potential to rise as high as $100,000 by the end of 2021.