It is a well-known fact that cryptocurrencies have been experiencing a bearish outlook since the end of their massive rally in 2021. Still, many crypto brokers and exchanges look incredibly well positioned to weather the storm and see us through to a bullish upturn.
Crypto Lists takes a closer look at which platforms can offer beginners to the space an easy-to-use entry point to buy crypto as well as for experienced traders to navigate a notoriously volatile market. In no particular order, and just a reminder that these are just a few of the many platforms and exchanges to choose from, here goes…
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It should only stand to reason that this broker has made our list. Crypto.com was originally founded in 2016 and it is arguably one of the most well-known exchanges on the marketplace. One of the reasons why Crypto.com should flourish when the bears come out of hibernation involves the sheer level of diversity that investors can leverage. More than 250 cryptocurrencies are currently offered; providing users with a means to offset potential losses by trading different pairs. The fact that its mobile app offers the very same features as the standard website likewise signifies that users can execute trades within seconds when the time is right. Open a free account on Crypto.com here.
Coinbase is yet another leader in crypto trading since it first emerged in 2012. Perhaps the most impressive feature of this platform is the fact that traders are provided with access to over 100 cryptocurrencies. As some of these are rather obscure, such an opportunity could represent a powerful means to offset losses associated with benchmark currencies such as BTC and ETH.
Bear-wary investors can also tap into small- and mid-cap assets; enabling them to become involved with start-up projects on the “ground floor” and take advantage of short-term momentum. Considering that Coinbase boasts assets worth in excess of $256 billion dollars, liquidity should also not present an issue. Sign up for Coinbase today.
Although Kraken does not offer as many cryptocurrencies as the brokers mentioned above, traders can still enjoy a number of unique benefits that are ideally suited for a bearish marketplace. Kraken is primarily suited for high-volume crypto traders due to a multi-tiered structure that reduces overall transaction fees in relation to 30-day rolling volumes. In fact, taker charges as low as 10% are offered to those who trade over $10 million dollars on a monthly basis.
In terms of keeping the bears at bay, Kraken Pro is arguably the best solution. Users can leverage high-speed executions, access to real-time market data and it is possible to choose from 13 different types of orders. Note that spot and margin trades are also supported. Try Kraken for free here.
While this next crypto exchange might not be familiar to the average trader, it can still provide a relatively safe haven during a bearish climate. This primarily involves the fact that Huobi Global is one of the top exchanges for those interested in gaming-related cryptocurrencies. Historically, currencies associated with online gambling and video games have superseded the volatility that tends to occur with market slumps. Axie Infinity (AXS) is a perfect example of this observation. Individuals who are wary about becoming involved with major names such as Bitcoin and Ethereum could therefore benefit from the services that Huobi Global has to offer. Open an account on Huobi here.
CEX is yet another platform to consider when dealing with a bearish marketplace. One of the main selling points of this platform involves stability. Investors have never lost their funds and CEX also places an emphasis upon crypto staking (a nice touch for those who prefer a more conservative approach). Currencies which can be staked include Polkadot (DOT), Solana (SOL) and Cardano (ADA). Users can enjoy competitive interest rates while remaining somewhat removed from open-market jitters by using such a strategy.
CEX is also known for an “instant buy” feature; enabling investors to purchase a crypto asset with the click of a button. Some prefer this method due to its simplicity as well as the fact that traders can turn a short-term profit even during times of high volatility. We should mention that many of the tools offered by CEX are suited for more advanced investors. Sign up for CEX here.
What is a Crypto Exchange or Broker?
Much like in traditional stocks or Forex trading, a crypto exchange, broker, or platform allows people to trade online from the comfort of their home. Or in the case of many, even while they’re on the move via a mobile app. Some are larger and offer more advanced features like leveraging and margin trading, and the ability to trade stocks and commodities. Others are more atuned to beginners who are making their first steps into the crypto space.
Typically, platforms are most suitable for pure beginners. Exchanges have more features and are used by both new users and seasoned veterans of the trading game. While brokers offer things like leveraging. But, each one is unique and sometimes the definitions are blurred somewhat. Obviously it’s worth looking around to see which one is most suitable for your needs, and Crypto Lists is on hand with a plethora of reviews for you to cast your eyes over. The above are a section of stand out sites for you to check out.
Mitigating as Opposed to Eliminating Risk
Let’s still remember that the speculative nature of the cryptocurrency markets can confound even the most seasoned investors. Simply stated, the concept of ‘a sure thing’ does not apply when referring to any type of platform or broker. The main intention should instead involve limiting the amount of risk associated with each trade.
Of course, it’s also important to remain one step ahead of the game by keeping up to date with the latest news compiled by Crypto Lists. Feel free to examine each of the platforms above in greater detail to better appreciate what each has to offer.
Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.