7 Cryptocurrency Exchanges You Need to Know | Watch Before Investing

I thought all cryptocurrency exchanges were the same and it cost me almost $3,000 in fees. Don’t be like me! Compare seven crypto exchanges to find the best for your needs. Check out the new bitcoin rewards card on BlockFi here https://mystockmarketbasics.com/blockfi

A cryptocurrency exchange is where you can buy, sell or trade crypto like bitcoin, Ethereum and other tokens. Whether you call it a crypto platform, website or whatever…you better know how each one differs. I didn’t and it cost me a lot of money in fees.

In this video, I’ll compare the best cryptocurrency sites on fees, interest rates, borrow rates, where each are based and then the pros and cons. I’ll detail each website for features and who should use it. That last part is important because it’s not a one-site-for-all kind of idea. There are cryptocurrency exchanges that serve buy-and-hold investors better and others that are better for trading. Being on the wrong platform can cost you money and worse.

Of course, it doesn’t mean you can’t be on more than one cryptocurrency platform. There are no monthly fees on the sites, the only thing you pay is usually a transaction fee when you buy, sell or trade crypto (or when you transfer money in or out of the site). So whether you have one or more accounts isn’t the issue. What is important is that you know what each cryptocurrency exchange is best used for, how to minimize your fees and get the most out of each.

Want to earn free bitcoin? Don’t miss the first bitcoin rewards card! Everything you need to know here! https://youtu.be/cCZUDaMs_gU

✔️ BlockFi Review – offers some of the highest interest rates on your crypto and low borrowing rates as well. BlockFi is U.S. based and regulated so you don’t have some of the foreign account problems. It also has one of the first bitcoin rewards cards which is a big bonus. Cons include the tiered interest rates so you don’t earn as much on all your coins and you only get two free withdrawals a month.
✔️ Binance Review – the largest cryptocurrency exchange though it has been having problems with regulators and shuts down often in different places. Americans will have to use the U.S. exchange which is more expensive and offers fewer crypto to trade. Still fees are lower than Coinbase and the spreads are lower for traders.
✔️ Coinbase Review – the most popular cryptocurrency exchange and listed shares means the platform has the funding to create more features. It’s one of the more expensive ones and it reports to the IRS and SEC so not quite as anonymous as some would like. Great feature to earn free bitcoin and other coins though.
✔️ Coinbase Pro Review – cheaper than Coinbase and with some features that make it better for crypto traders like the charting and more order types. Fees still are the lowest you’ll find though, unless you trade a high volume each month.
✔️ Kraken Review – said to have the best customer service among the crypto exchanges and offers unique features like futures and options trading. The fee structure can be a little confusing at times though.
✔️ Bittrex Review – smallest cryptocurrency exchange in our list and may not have the liquidity traders need but strong security and lower fees.
✔️ Gemini Review – offers high interest rates and borrowing as well as being a U.S.-based exchange but is not a wallet so that adds a layer of complexity for cryptocurrency beginners.
✔️ Bitcoin Exchanges Comparison – It’s not a one-size fits all idea but I like BlockFi for the buy-and-hold strategy for its low fees and high interest rates. Kraken seems especially suited for crypto traders with its futures and other features though I haven’t used it directly so you’ll have to try it out.

Still not investing in cryptocurrency? Don’t miss the rest of the videos in our cryptocurrency tutorial series for beginners!
Two ways to value bitcoin and why it could go to $190,000 in a few years! https://youtu.be/hrTVtv-caiE
Price forecasts for 7 other cryptocurrencies including Ethereum, Litecoin and Stablecoins https://youtu.be/8IYNyn-QB_M
Bitcoin vs Ethereum: Which is the Better Investment? https://youtu.be/UWgWcsA8dSQ

0:00 Cryptocurrency Exchange Comparison
2:30 BlockFi Review
5:18 Binance Review
6:47 Coinbase Review
8:20 Coinbase Pro Review
9:46 Kraken Review
11:38 Bittrex Review
12:21 Gemini Review
13:20 Bitcoin Exchanges Comparison Table

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
#cryptocurrency #crypto #bitcoin

7 Cryptocurrency Exchanges You Need to Know | Watch Before Investing

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