If you are a beginner in cryptocurrency, a trading exchange would be ideal for getting acquainted with the market. A cryptocurrency exchange provides users with an integrated platform designed to facilitate cryptocurrency trading.
With trading platforms offering affiliate, referral programs, and sign-up bonuses like Bybit Bonus, you can get a boost at the start of your trading journey. The exchange offers a secure and reliable environment for beginners and experienced traders alike.
9 Best Features of a Reliable and Safe Crypto Trading Platform
Easy to Use
Cryptocurrency exchange platforms are easy to use, from the registration process to placing trades. All your trading requirements can be met under the umbrella of one platform. You get a cohesive view of your account, history, the market, real-time prices, and more.
You can trade using fiat, buy multiple cryptocurrencies with a transparent fee structure and use different payment methods for deposit and withdrawal.
Trading platforms offer security to users with strategies such as 2-factor authentication (2FA) or biometric login. Some exchanges also ask for your approval over the phone or email when placing trades above a particular limit.
As Canada allows cryptocurrencies, there are regulatory bodies to ensure the lawful functioning of cryptocurrency exchanges.
Use of Fiat
The Canadian dollar is an example of fiat currency. It is the type of currency that is considered legal tender and approved by the concerned government. Trading platforms allow the deposit of Canadian dollars into their wallets to buy cryptocurrencies like Bitcoin or Ethereum.
Many trading platforms have a generous affiliate, welcome, and referral programs. Users are eligible for a registration bonus like Bybit Bonus offered by the ByBit trading platform. One can also earn healthy commissions by participating in the affiliate program of the trading platform.
By referring the trading platform to a friend, family member, or colleague, you can earn a referral bonus. These bonuses can help boost your trading journey. Do read the terms and conditions carefully before entering such programs.
You need a verified trading account before you can buy or sell cryptocurrencies. The registration process on trading platforms is fairly straightforward. You will have to provide them with your name, contact information, nationality, and a valid identification document.
Your phone number and email address will be verified through links. This process can be completed within minutes, post which you can make a deposit and start trading. That is how easy it is to use a trading platform for cryptocurrency.
Most trading platforms have a minimal or no charge associated with the deposit and withdrawal of cryptocurrencies. The deposit and withdrawal of a fiat currency from a trading platform wallet will invite charges. Lastly, the transactions involved in the trading of cryptocurrencies will be charged.
Trading platforms offer low trading fees, heavy volume discounts, and other bonuses for regular users.
Bitcoin is ‘the’ popular cryptocurrency globally, but it is not the only one available in the market. You can trade different cryptocurrencies like:
- Bitcoin Cash
If you want to diversify your crypto portfolio, then you can do so with a trading platform. The option of buying cryptocurrencies with fiat makes the trading platform more accessible.
Multiple Trading Methods
Depending on the platform you choose, you will be offered different trading methods to buy and sell cryptocurrency. Trading platforms can have their wallets wherein you can deposit your money. If you already own a crypto wallet, then it can be integrated with the trading platform. Some platforms also offer Over-the-counter (OTC) trading for high-volume transactions.
Depending on your experience and the amount you want to invest, you have the flexibility of choosing any of the trading methods mentioned above.
Trading platforms have well-documented guides, FAQ sections, and other supporting materials to get the novice users off their feet. Platforms provide a customer care number, a live chat option, or email addresses to be contacted for any concerns or queries. Many platforms have well established social media presence as well.
This additional support is welcome, especially when you are a beginner in the field of cryptocurrency trading.
Trading platforms are a secure and reliable avenue to conduct the buying and selling process of cryptocurrencies. Beginners can benefit from the user-friendly interface and welcome bonuses like Bybit Bonus.
Experienced traders and investors can leverage features such as integrated views, order books, history charts, and more. With low trading fees, high transaction speed, and a transparent fee structure, cryptocurrency trading platforms are here to stay.