If you're new to cryptocurrency and aren't sure where to begin? You've arrived at the right place! If you're a trader already, let us know what you think of this list and if there are any sites that we should add. Having an account with these sites ensures that you are prepared to invest and take advantage of future market opportunities.
Everyone talks about how they made a lot of money with DogeCoin and Shiba Inu, and you'll be able to do the same next time! Take the time to create an account on each platform. Save the apps to your phone and the links to your computer as bookmarks.
In no time, you'll be trading like a Wall Street pro from the convenience of your own home or on the go. In 2022, there are nine sites that any new crypto investor should have an account with.
Coinbase
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| pic credit: Bankrate |
Coinbase One of the most prestigious sites in the United States. They give an on-ramp and off-ramp for converting fiat money into cryptocurrency to purchase, sell, and manage it. Coinbase has a restricted number of assets available on its platform. It is one of the most user-friendly sites for getting started with cryptocurrency trading.
They are KYC (Know Your Customer) compliant. As a result, starting an account is similar to opening a bank account. Personal information, such as your social security number and a copy of your driver's license or passport, will be requested. With an approved trading account, you will be ahead of the game by providing this information, which will soon become industry standard.
Robinhood
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| pic credit: Robinhood |
Robinhood Many of you may be acquainted with Robinhood, which caused a lot of clients to be furious when the market rose around AMC's Short squeeze and they had to cease trading. When all is said and done, the platform is extremely user-friendly. Buying stocks, bitcoin, and options is a piece of cake with Robinhood.
No, seriously, a 6-year-old could operate a profitable Robinhood portfolio! The reality of sites collapsing during market surges or completely halting trades demonstrates the need of having access to several platforms in order to take advantage of the market. One of our favorite ways to swiftly trade options and equities is through Robinhood!
Cash App
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| pic credit: Wikipedia |
Cash App, We understand that the cash app may appear to be an unexpected candidate for this list, but it provides an on-demand option to convert the currency to Bitcoin and transmit it to any platform for quick trading.
Friends have told us about making deposits into applications from their bank accounts only to have to wait 3-7 days for the funds to clear, causing them to miss a 10x market move. If you have a cash app account, this will not be the case.
The Cash app is also a wonderful way to convert Bitcoin to cash quickly and easily, allowing you to withdraw funds to a bank account or debit card for a fee. You may now buy equities with the Cash app and send them to others who have accounts on the platform.
The rate of technological development is accelerating at an alarming rate. It's critical to stay on top of things! We cannot emphasize this enough! You must empower yourself with options in order to take advantage of the constant market activity.
KuCoin
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| pic credit: kucoin.com |
KuCoin is by far our favorite site for trading alternative coins! This is the platform to use if you're into the day trading or swing trading. KuCoin also offers a fantastic Trading Bot and an intelligent rebalancing tool.
We appreciate the fact that, unlike other sites, the trading bot is completely free to use and set up. People with little to no expertise with technical analysis aren't usually interested in it, and they can't always interpret charts.
Because of this, we prefer user-friendly applications. Your expertise and experience will grow in parallel with your investments. The important thing is to get started. Now is the greatest time to do so.
Ledger Nano X
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| pic credit: ledger.com |
We can't talk about cryptocurrency without bringing up the topic of hard wallets! The Ledger Nano X is our fave. It's wireless, and it's without a doubt the smartest investment you'll ever make to protect your crypto holdings. You can keep your crypto keys offline using the ledger.
Consider your ledger to be the key to your front door, while the crypto you hold is always kept on the blockchain. You are the only one who can open that door if you have the key. When you hear about people getting hacked or losing cryptocurrency to scammers, it's almost often because they left their funds online.
The majority of platforms have proven to be safe. On the internet, your valuables are more vulnerable to hackers and scammers. Any assets that you are not day trading but holding for the long term with diamond hands should be moved to a ledger, according to our recommendations.
Under no circumstances should you purchase this product from anyone other than Ledger directly. The bundle will include a set of 24 secret words that can be used to unlock the content. You want to be sure the product is genuine and hasn't been tampered with.
Metamask
This is a phone app that you can download. It keeps your private keys to your crypto assets similar to a ledger. Metamask is a "hot wallet," as we like to call it. It can be used to hold assets that need to be traded or swapped on a decentralized exchange quickly. It's a platform that connects you to a variety of blockchain apps.
Pancake Swap
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| pic credit: Shrimpy Academy |
If you're into Non-Fungible Tokens NFT’s, much like Metamask, Pancake swap is an essential tool. The platform will allow you access to various apps and currencies needed to purchase NFTs or token swaps on decentralized exchanges.
Nexo
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| pic credit: Nexo |
Nexo is quickly establishing itself as one of the most popular crypto loans and staking services. You can use the platform to stake crypto assets and earn interest on them. It also allows you to borrow against the platform's crypto assets. You don't need credit to be authorized; all you need is cryptocurrency!
This feature can save you a lot of money in the long run by avoiding tax consequences. Because the tax code is still a work in progress, every beneficial exchange can result in a taxable event. You can avoid paying taxes on your rising crypto holdings by taking out a loan against them.
These are still non-taxable occurrences, much like a loan from an IRA or 401K. This is not financial advice, however, you might want to talk to your accountant or financial expert about the idea.
Coin Market Cap
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| pic credit: coinmarketcap.com |
We promised we wouldn't bore you with technical analysis, but this site is a useful bookmark to keep track of the market's overall health. It's an excellent place to start learning about the many coins available on the crypto market. It will give you quick access to the research you need to make trading decisions.
We use it on a daily basis, and we normally check the market several times a day. You have made it to the end of our 9 essential sites for 2022.