Bitcoin
August 24, 2019

What is the Best Bitcoin Trading Platform?

By Rabah Hasan

According to research done by Cambridge University this year, there are up to 5.8 million unique users utilizing digital currency, with the majority of those users on Bitcoin. There has been no other money system that has been faster, easier or more convenient to use all around the world. Are you interested in delving into one of the biggest financial markets out there? Read more to find out how you can get on the best Bitcoin trading platform.

What is Bitcoin?
Bitcoin is a type of digital monetary system that can be used anywhere in the world. People can receive money from other users without needing to verify their identity. Bitcoin uses a cryptography system to protect users from being revealed to the public and to allow for the safe and convenient trading of digital currency. Similarly to how websites like Craigslist encrypt email addresses so users do not have to use their personal addresses to interact with potential buyers or employees, Bitcoin utilizes the same methods to protect their information. Bitcoin is also unique because it does not keep track of its users, only of the addresses to where the money is being delivered.

Bitcoin Trading Platform
Bitcoin trading platforms allow users to utilize Bitcoin as a form of currency to set up trades and make sales with other anonymous users. Usually, platforms will require some kind of fee in order to be able to use it. Similarly to how PayPal charges the sender of money in some cases and the receiver in some cases, Bitcoin platforms vary and require similar payments for use. You have to consider how much you are trading and how often to determine which platform best fits your personal interests.

Best Bitcoin Trading Platform
When choosing the best Bitcoin trading platform to fit your needs there are a number of factors to consider:

Trade Volume – The higher the trade volume, the more Bitcoin users are interacting and making sales on that site.

Fees – Take into account how much the Bitcoin trading platform is charging for you to use their services

Security – Bitcoin protects its users, but many trading platforms do not have the same encryption services. Make sure that you are able to preserve your anonymity when making a sale.

The current overall, best Bitcoin trading platform is called CEX.io.

Why is CEX.io the Best?
CEX.io requires one of the lowest trading fees in the market at 0%-0.2% and is easy to use on Mac amongst other web platforms. It also boasts one of the highest users ratings at a 9.7 out of 10. It’s fast, simple and easy to use, and the majority of the countries that utilize Bitcoin also utilize this platform, making it a big player in the market. It’s also rated one of the highest in security, ensuring that your identity is protected.

Make sure to do your research when determining which Bitcoin trading platform is right for you. However, if you are just dipping your toe into the sea of Bitcoin trading, CEX.io is a great place to start.