TOP Best exchanges storing crypto 2022 and How to protect cryptocurrencies

Best exchanges storing crypto

If you are a person who is knowledgeable about digital technology, and is interested in the issue of cryptocurrencies, it means that you are looking to invest in digital money. Follow this article with Yield Nodes , TOP Best exchanges for storing crypto will provide you with some important information about digital currencies, reputable, low-risk trading platforms that may interest you.

Are you passionate about digital asset investment? If you are in need of information about reputable trading platforms, here is a detailed article about 10 cryptocurrency trading platforms for your reference.

Best exchanges storing crypto

Coinbase

Coinbase is one of the most well-known platforms, and the reason why Coinbase is on this list. Because it is a long-standing platform in the digital asset market after its launch in 2012 until 2021, it will be public on Nasdaq. When trading on this platform you will be offered over 50 cryptocurrencies you can freely experience. What’s more, it comes packed with a free wallet and has a private key to ensure the safety of your cryptocurrency storage.

When it comes to transaction fees, Coinbase is known for its above-average transaction fees. If you trade on this platform, you will be subject to both Coinbase fees and spread fees when making trades.

There is also the spread, which is the difference between the cost of the cryptocurrency and the amount you have to pay to get it. Coinbase fees will change if you change locations. If your transaction is in different cryptocurrencies then you will not incur Coinbase fees. Besides that, there are additional cuts: withdrawals and deposits to your account will come through various forms.

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Coinbase charges a transaction fee which is seen as a great thing as a point of last resort. Due to its high security, it becomes one of the most secure cryptocurrency platforms on this list.

This background on transparency of security is on another level. Considered to use cold storage wallets for 98% of cryptocurrencies, the remaining 2% helps to make transactions.

Coinbase even offers an insurance policy to protect your digital assets. In case if you are attacked will not guarantee the total amount of compensation.

Therefore, Coinbase deserves the leading position in the top Best exchanges for storing crypto.

Gemini

Gemini platform
Gemini platform

Coming in at number two in the Top Best exchanges for storing crypto is Gemini, first launched in 2015 as a platform that is easy to navigate and work with. It remains a suitable platform for all experienced traders as well as beginner investors. Similar to Coinbase, Gemini offers investors more than 50 cryptocurrencies to trade and invest in. When trading on this platform, you will be subject to transaction fees and convenience fees.

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Gemini accepts all offline cryptocurrency storage methods. Mostly, cryptocurrencies on the platform will be stored on cold wallets. Only a small percentage is stored on the hot wallet to create a condition that can be withdrawn.

Etoro

Coming in at 3rd place in the top Best exchanges for storing crypto is Etoro, founded in 2007, and it also ranks highly among the great platforms for cryptocurrency trading. Etoro is open to more than 140 countries, thus attracting a large number of investors and traders worldwide (20 million people). The platform not only provides users with cryptocurrency, but it also provides additional assets. Additional asset classes include commodities and even stocks.

If you are an investor or a beginner cryptocurrency trader then Etoro is a suitable platform for you to try out. It has features that help you practice, develop and track your progress day by day. Etoro will have different minimum deposit requirements depending on the country. On this platform, you only pay withdrawal and spread fees. The spread will depend on the cryptocurrency you trade.

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Etoro will use hot and cold wallets as well as the above two platforms to store cryptocurrencies. In the case of any fiat currencies which are usually primarily US dollars, they will be stored in the account. Those accounts will be managed by the FDIC.

Crypto.com

This is the platform that is highly rated in the Top Best exchanges for storing crypto. As it is a platform with various cryptocurrencies and supports mobile transactions. It will provide users with nearly 180 types of cryptocurrencies to trade and invest in. As of now, the platform has no minimum deposit, so it’s great for beginner investors.

In addition, Crypto.com does not charge transaction fees like other platforms. But you only get this benefit when you transfer money from your bank via ACH. Even through an automatic payment facility. Even so, credit or debit card transactions may have higher fees than other platforms. If you want to save money, you can go to the nearest bank to be able to make these transactions.

The platform has a slight shortcoming that does not allow crypto-to-crypto transactions. For example: If you want to exchange Ethereum for Bitcoin you will have to transact twice. The first transaction is to sell Ethereum and the second is to buy Bitcoin. This is definitely different from other crypto platforms.

Readmore: How to Buy Crypto with YieldNodes

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Crypto.com will allow different digital wallets to be used if you are a trader or you are an investor. To make your transactions more convenient, it will provide several options for holding your cryptos featured DeFi Wallet app – powered by Blockchain.Crypto.com save Store most crypto in cold wallets.

The wallet provides software that stores cryptocurrency offline, which will not be accessed by hackers. And the most special thing Crypto.com will provide insurance for any loss that occurs as loss of cryptocurrency through cyber attack or even other unforeseen incidents.

Binance

Coming in at number 5, Binance is a cryptocurrency platform that needs almost no introduction. It has grown and is popular in the market at this time. On the plus side, the platform has provided users with various cryptocurrencies to trade and invest in.

Its transaction fees are much lower than competing platforms. On the negative side, in 7 US states it won’t be accessible. The platform has limits on crypto-to-crypto transactions, and additional fees will apply to credit or debit card users.

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For the convenience of its users, Binance has its own official digital wallet where cryptocurrencies can be stored. This wallet is a completely free application and is highly appreciated by consumers on both Appstore and Google Play. This wallet is not required, so you are free to use other cryptocurrencies.

In 2019, Binance reported a loss of 7000 Bitcoins, which at the time was worth around $40 million. However, the company later announced full compensation to affected users. Up to this point, there are no other hacks for the crypto platform.

In addition to us, Binance also protects US dollar deposits. This amount will be kept directly by the FDIC on bank accounts. Even better is that if the amount you deposit in cash is up to $250,000, you will receive auto-insurance in the event of bank failure, theft, brokerage failure or even an illegal transaction.

Webull

Coming in at sixth place in the Top Best exchanges for storing crypto is Webull, it is not a proficient platform for new investors. However, with other platforms, Webull can have attractively low fees. Also, if investors and traders are mobile users, Webull will be very attractive to you. It has a completely attractive interface on smartphones or computers.

What is particularly talked about about Webull is that its minimum deposit amount is exactly $0. In terms of customer support, Webull will not let you down. It has a system that provides customer support services on phone and email, which you can access at any time.

On the contrary, Webull offers extremely limited cryptocurrency. So far, 11 is the number that Webull allows cryptocurrencies to access, which can be difficult if you want to diversify your investments.

Webull does not charge a fee for transactions made on this platform. For transactions, the platform will charge some fees for the invested funds. Mainly transaction fees via bank transfer.

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Webull is regulated by the SEC along with FINRA like most platforms. These two organizations ensure that all activities run by Webull are legal and ethical.

TradeStation

TradeStation welcomes active traders. It is a strongly supported platform to make it easier for active traders to carry out their daily trades. The great thing about TradeStation is that it has an impressive looking desktop interface.

This interface will automatically set the appropriate mode for you to use easily. It will come with tools to help automate, design, monitor and test your transactions. Although there may be no fees for trading on this platform, transaction fees may vary slightly from time to time.

If you are looking to join the platform, you have to make a minimum deposit of $500. Receive money via wire transfer with no fees. Meanwhile, sending a wire transfer will cost $25 for a stock account and $35 for an international account.

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TradeStation is regulated by the SEC, in addition, SIPC offers cash insurance up to $250,000 and $500,000 in stock accounts. That makes for a reliable platform to work with.

BlockFi

BlockFi is a platform that can give peace of mind to your own cryptocurrency. Besides, it also allows you to save your electronic assets in case you need cash. BlockFi loans will make this possible. It allows a minimum of $0 which means you can deposit any amount of trading.

BlockFi platform
BlockFi platform

Importantly, it provides customer support in a variety of forms such as: phone, email, chatbot. However, on the downside, this platform has a few minus points such as lack of access in some US states, and the interface is difficult to navigate.

BlockFi will charge the spread for any transaction made. Additionally, the platform offers one free crypto and StableCoin withdrawal every month. Therefore, to save costs, limit your withdrawals to once per month.

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BlockFi’s security will be no different from other platforms. The platform will also be regulated by institutions like the SEC that will regulate its trading activities. Meanwhile, as a member of FDIC and SIPC, approximately $250,000 in cash will automatically be protected from any banking problems.

However, these institutions will not protect interests if already stored in an interest paying account.

Kraken

Kraken is a platform that attracts new active investors. The platform’s tools are created specifically for beginners along with active crypto enthusiasts. However, these advanced tools need to be activated by a low fee, if you want to participate in full trading.

Kraken’s customer support doesn’t stop at the average customer. It offers round-the-clock customer service from email, voice calls to chat. Kraken offers users more than 90 cryptocurrencies and 130 crypto pairs. However, in Washington DC and New York, you will not be able to access the platform.

Kraken will have some fees but this platform is the lowest compared to others. You will also have to pay a processing fee when purchasing cryptocurrencies through /ACH online banking.

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By implementing many very strict security measures such as storing more than 95% of cryptocurrencies offline in cold storage and reserve the remaining 5% in case of withdrawal.

Kraken promises a secure platform for users. What’s more, the platform claims to securely host its servers in cages with 24/7 monitoring. More importantly, it encrypts sensitive information and closely monitors access.

RobinHood

For cryptocurrency trading, the RobinHood platform provides accuracy and no fees. In addition, the platform offers ETFs, stocks, and commission-free trades. The cool thing about this platform is being able to improve customer support. Even so, the platform has had trouble with regulators in the past.

There are two conditions for Robinhood to be one of the best crypto platforms: One, Robinhood is an easy to use platform. Considered as an open platform even when dealing with the most complex trading strategies for beginners.

Second, most of the platforms on this list have a minimum start-up, and this one doesn’t. Transactions on the platform are free, and it is one of the few that allows free cryptocurrency trading.

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In 2020, because of a data security incident, Robinhood charged a stock exchange commission. But then, in mid-2021, the platform had to pay a $70 million fine.

However, since the platform is a member of SPIC and regulated by the SEC. So cash funds up to $250,000 and securities $500,000 are automatically protected.

Conclusion

TOP Best exchanges for storing crypto have been listed by us according to the list above, now you know which cryptocurrency platforms are the best. This means that it will be easy for you to find a platform that suits your investment approach. Besides, always keep in mind that trading cryptocurrencies always has risks that will happen unexpectedly. Thank you for following our article.

Readmore: How to Buy Cryptocurrency and safe investment e-wallets in 2022

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