A lot of people consider trading cryptocurrency as a way of earning passive income. Others consider it simply as an alternative investment to other traditional forms of investments. Investing in cryptocurrencies may not be for everyone, as this method is still a somewhat speculative investment.
Where to buy cryptocurrency? Well, you have several options.
- Brokerages: this is a company that facilitates the purchase and sale of investments, such as stocks, bonds, and mutual funds. Several of the best stock brokers now offer cryptocurrency trading through their platforms. These can be desktop-based, app-based, or both.
- Exchanges. This company facilitates the buying and selling of digital currencies. The biggest difference is that brokerages offer other investment vehicles. Cryptocurrency exchanges don’t.
Whether you go with a broker or an exchange, make sure they give you their best services. For example, if you want to buy cryptocurrency on your mobile, look for the best cryptocurrency applications.
Here we recommend the best 3 platforms for trading cryptocurrency.
1.eToro
A lot of people say that eToro is the best crypto app in 2022. This is because this app offers a wide range of cryptocurrencies alongside other investment products such as stocks and ETFs. It also comes with a unique social trading feature that lets you copy the trades of other investors
One of its unique features is “CopyTrader” feature which allows eToro users to copy a trading transaction done by their favorite high-performance traders with one click. Just set the amount of money you want to use. eToro automatically allocates those funds proportionally to mirror the positions of your favorite eToro trader. On top of that, there are no management or other fees charged by this social trading platform. To use this trading tool, users can choose to copy just one successful trader or as many as 100 at the same time. Super comfortable, right?
2. Coinbase
Coinbase is one of the largest crypto business transaction bases in the world. Although the number of crypto assets on Coinbase is less than Binance, this platform is very trusted. Coinbase deliberately conducts a strict selection so that only the best crypto coins that are free of scams can enter the Coinbase asset list.
Coinbase is not only the best cryptocurrency exchange, but it also offers a variety of high-quality goods, such as custodian services, eCommerce payment options, and a platform for expert traders (Coinbase Pro), interest-bearing accounts, and crypto solutions for institutions.
The Coinbase applications are a practical solution for bitcoin newbies because they are simple to use and incredibly intuitive. Your portfolio is easily accessible through the dashboards, which also let you monitor your portfolio’s progress over time easily.
3. Binomo
This application is now the largest crypto trading platform in the world, specifically on Bitcoin and Altcoin sets. Binance supports over 200 cryptocurrency assets in over 130 countries. This app is also highly recommended for beginner traders.
The Binomo application works in a binary options system, requiring a trader to predict whether the price of an asset will rise or fall within a certain period of time. Binary options have an expiration date and time, this way at expiry the price of the underlying asset must be on the correct side of the strike price for a trader to make a profit.
Other than Binomo, there are actually many similar applications that use the binary options system. However, this system is considered similar to gambling to several countries and therefore banned there, including Indonesia.
