Best Crypto Trading Platform 2021-2022

LPancaku on 17/11/2021 - 13:24

With Crypto this hot, it's about time someone asked this question again on OZB.

Times have changed, and fees/competition likewise. Crypto has also gone up in the past 2 years.

It's about Crypto Trading Platforms.

We're talking about both fees, benefits, and overall value. There are just so many Crypto trading platforms that it's almost impossible to pick without an expert recommending one.

I am currently using Coinspot and ordering via the market, not the instant buy/sell, to get 0.1% fees rather than 1% fees (thanks OZB forums). However, I have also read in previous forums that Binance has very low fees. Contrast this to a quick reddit search, you have people complaining about Binance's high fees…

So ultimately the question is:

"For those who've done their research, what is the best Crypto Trading Platform in 2021?"

Any help to clear this confusion up is much appreciated by us all.

Financial Cryptocurrency

Comments

  • Shadowsfury on 17/11/2021 - 13:34
    +2

    Binance has low fees/spreads but they have very expensive transfer fees as they want to push you towards their own product for moving crypto around

    I personally use Kraken's advance ordering, and their withdrawal are a lot more reasonable

    • supersabroso on 13/01/2022 - 15:30
      +1

      Binance is simply the best at almost everything, they offer the lowest fees, tightest spreads, decent staking and ability to purchase the best crypto assets. However, FTX beats them if you're doing lots of ETH/Solana transfers, especially if you want to transfer in and out of Celsius a lot (most of those coins are all via the ETH network only). These centralised exchanges are more secure, less risky, offer protection inclusive of customer support, have great apps and are virtually fee free. (Also never locked me out or crashed on me during a major market crash, I used to panic sell but now I panic buy).

      Once you're ready to advance to actually utilising crypto (defi staking) or wanting to buy degen coins, you need to utilise a decentralised exchange (much higher fees but full anonymity as there is no KYC, but way more risk, you can get hacked or lose access to all your funds if you're not careful, your staking platform may also get hacked and you can lose all your funds, no protection). Use any non ETH DEX like Pancake Swap, Sushi Swap or Raydium. ETH DEXs like Uniswap are only for the rich, normal people can't afford to pay $30USD/transaction.

      Personally, I love the Solana network and use Raydium/Saber. This is because I recently discovered stable coin staking there and I'm getting more consistent returns than trading crypto. Stress free, approx 25% APY guaranteed stable returns that won't crash 40%. Only real risk is that the protocol gets hacked and I lose everything lol, but that's on me as I can easily and safely stake on Celsius for 8.5% APY instead if I want to cut my risk.

  • rektrading on 17/11/2021 - 13:40
    +3

    Use a DEX.

    The only reason to use CEX is for leverage and that isn't for noobs.

    • deme on 17/11/2021 - 13:44

      Use a DEX.

      Which one?

      • rektrading on 17/11/2021 - 13:51

        Use the DEX with the most liquidity on the network that supports the coins/tokens.

        https://www.coingecko.com/en/dex

        Use an on-ramp to go from fiat money > coins/tokens > Tx to the external wallet on the network that supports the coins/tokens > trade with a DEX.

        • deme on 17/11/2021 - 13:52

          Is coinjar an on-ramp?

    • Shostaholic on 18/11/2021 - 14:15

      For beginners wishing to dip their toes into crypto, I'd avoid DEX as it can be complicated navigating all the fees/wallets/networks (including L2 like BSC and Polygon)/keeping track of transactions etc.

      CEX makes more sense for beginners imo, unless they are willing to jump in the deep end.

      • brendanm on 20/11/2021 - 14:49

        Bsc shitcoins are actually quite easy to play with, and can make great gains if you know when to get out.

  • brendanm on 17/11/2021 - 14:43
    +2

    Binance and pancakeswap.

    • urbancartel on 18/11/2021 - 10:58

      Is there a way of tracking what your coins are worth once you've swapped them on pancakeswap? - bought some shitcoins last week and now have them in a meta wallet. Is there a way to see what you paid and what they are currently worth or do you have to work it out manually?

      • brendanm on 18/11/2021 - 11:15

        I have mine in trust wallet. You can use moon scan and enter your wallet address to track when you've purchased etc. Also tells you how much you've earnt in reflections.

        • urbancartel on 20/11/2021 - 15:17

          Thanks for that - found I could track my wallet on poocoin.app

      • Shostaholic on 18/11/2021 - 14:01

        If you have multiple wallets and need something to keep track or everything and make tax reporting easier, you can always use Koinly for that. You can sign up for free and link your wallets to it and it will show all your coins on the same page.

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