It seems no matter where you turn; everyone is talking about cryptocurrencies. People from all types of backgrounds and all walks of life are becoming a part of this movement, and in many cases, becoming extremely wealthy from it. With so many people profiting in such a big way, it isn’t hard to see why cryptocurrency is turning so many heads these days.
Along with this growing popularity and user base, we are seeing a massive number of various services such as exchanges, signals, and trading sites starting to appear. These services are making cryptocurrencies accessible and easy to use for your average person, but with so many choices, it can be hard to find a crypto trading service that is right for you. To help you out, we have taken the time to sort through over a hundred different sites that provide services for trading cryptocurrencies to find for you the three best services operating right now in 2021. In this guide, we will give you the pros and cons for each of these services and why they are so good when compared to their major competitors. We will also take the time to break down some of the more basic information regarding cryptocurrency, so you are well situated to make a more informed decision.
The 3 Best Crypto Services in 2021
- Crypto Rand Group: Best for Crypto Trading Signals
- Coinbase: The Best Overall Exchange
- Binance: The Best for Altcoin Trading
How Did We Choose the Best Crypto Services?
While cryptocurrency has been around for over a decade now, it seems it has only been in the last couple of years that the idea has really taken off in the general public’s imagination. With businesses accepting cryptocurrency like Bitcoin as payment, and PayPal allowing you to buy some types of coins directly, the amount of users for this new form of currency has skyrocketed. Along with all of the new users has come a wave of service sites. To sort through these hundreds of service sites, we needed to create basic criteria that we could use to rate and judge each option.
Our 3 main criteria for choosing a quality service:
- Extremely trustworthy and secure.
- Easy and intuitive to use.
- Fair rates and amazing customer service.
Once we removed the options that didn’t meet these criteria, we were still left with dozens of options. From there, we took a much closer and personal look at each service and how they ran their operations. Options like customer service, usability, and their overall track record came into play at this stage once again and were heavily scrutinized. By the end of this judgement, we could get it down to three fantastic services that offer those looking to get into cryptocurrency trading and using cryptocurrencies the best possible options.
The 3 Best Crypto Trading Services Reviewed
While there are many crypto services on the market today, these are the very best currently operating in 2021 according to our strict criteria and ratings.
1. Crypto Rand Group: Best for Crypto Trading Signals
- A great set of services to help you make smart financial moves into crypto.
- An introductory service that is very inexpensive.
- Easy to contact their team of highly skilled pros.
- Their full service provides more value than what you would find in five other competitors put together.
The Crypto Rand Group is a fantastic way to get started trading in cryptocurrencies. They offer a diverse range of services to learn about technical analysis and how to use trading signals (when to buy, sell, etc.) as well as unique tools and frameworks that will help you begin your first investments, or continue into more advanced, high-leverage trading. They have a friendly team of experts who are standing by to help you and answer your questions and have proven their ability to take first-time buyers and turn them into hardened, savvy investors in only a few months.
You have a couple of options with the Crypto Rand Group.
- You can opt for their basic package which gives you three updates a week on the current state of Bitcoin and altcoins, as well as some lessons on trading signals, example setups, and general news. This is great if you want to stay on top of the market but don’t want to spend more than $20 a month on a service at the outset.
- Their full service, which will cost you $200 a month, is for serious investors and they go all out to give you exactly what you need to succeed. You will have signals, classes, analysis to read through, as well as in-depth market research and updates on new investment opportunities. For many, you will want to start with the basic package until you start to learn the ropes, then you opt for the big package when you are ready to get some help to make bigger moves in trading cryptocurrencies.
This is the perfect way to get your feet wet with crypto while learning how to trade crypto from some of the best traders on the scene. The live streams and the one-on-one mentorship options will ensure you know exactly what to expect and how to best leverage your assets for future profits. There are no other services out there that will get so in-depth with your personal needs at such a fair rate.
The free news and blog section that they run are worth the visit to the site on its own. This is a great place to get new information and find out what is going on in the wider world of cryptocurrencies and may even help you to find the next big opportunity. It is a solid place to visit for news, reviews and general insights.
If you are serious about investing in cryptocurrencies but aren’t sure where to start or where you can go to really learn the ins and outs of the cryptocurrency industry, you need to give the Crypto Rand Group a try. They will be able to get you used to the idea as you slowly learn how these markets work.
2. Coinbase: The Best Overall Cryptocurrency Exchange
- A huge selection of options for adding crypto to your business.
- Makes buying and selling the major crypto options very easy and intuitive.
- Now has a Coinbase Card!
- Great, responsive customer service.
Coinbase is an incredibly popular cryptocurrency trading platform that allows you to quickly and easily buy and sell a wide range of cryptocurrencies with only a couple of clicks. Their site allows you to easily see which currencies are currently on the rise, which are dropping, and you can get the trends of these coins going back months if not years. If you know what to be looking for, Coinbase allows you to find it and gives you the tools to take advantage of that knowledge.
Coinbase is primarily a crypto exchange for trading coins, but it also allows you to create a process for accepting crypto for your business services, adding it into your online offerings, as well as helpful apps and other intuitive features that are making altcoins and Bitcoin extremely viable in everyday use. Coinbase is helping businesses and individuals turn the crypto market into a reality. If you are a business or a sole proprietor, you need to join Coinbase for all of the perks and versatility it provides to your business.
Coinbase also has a lot of great resources to help you learn more about cryptocurrencies, allowing you to make better decisions about trading crypto. You can tell Coinbase is in it to make this industry as stable and viable as possible, and they see helping you make smart choices and a key element of that. They offer tips, tutorials, and even answer some of the more complex and niche questions about the industry.
Perhaps the most exciting thing about Coinbase, past its slew of cool and useful cryptocurrency exchange features, is the Coinbase card, which carries the Visa name and allows you to spend your crypto almost anywhere. This offers you a level of versatility with your currency that was only dreamed of a few years ago. It is hard to explain just how powerful a Visa card backed by crypto is for the future viability of crypto services in general.
Learn more at Coinbase.com.
3. Binance: The Best Cryptocurrency Exchange for Altcoin Trading
- A wide array of powerful tools to help you trade, buy and sell crypto.
- Operate their own currency with fantastic features.
- Also has a Visa card, providing great utility.
- A ton of financial tools for serious investors.
While Coinbase allows you to buy, sell and trade major coins with a wide array of intuitive features, Binance specializes in bringing you similar abilities to trade cryptocurrencies for a wide array of lesser-known crypto options. The benefits of using Binance have won them a legion of loyal fans and made them the largest global exchange.
Binance is heavily focused on helping prospectors find the next big coin before it skyrockets in value. Though, to be fair, they still allow you to trade crypto very easily and have a wide array of simple and easy-to-use features to help facilitate that. Binance makes it easy to jump your investments between different coins, allowing those who are well informed and able to make good predictions, profit very heavily. This is less of a service for beginners than our other options but allows those who know what they are doing to really make some big moves. For those who spend a good deal of time moving assets around, Binance is going to be your best option.
Just as with Coinbase, Binance offers businesses, entrepreneurs, and sole proprietors a huge array of options for opening up new revenue streams and accepting, spending and storing cryptocurrencies. They also have a very informative blog that is worth visiting for the latest news and updates in the industry, as well as 24/7 customer support to help you.
Binance has been steadily working its way into greater competition with Coinbase (who has been doing the same relative to Binance) recently releasing their own Visa card so you can easily spend your crypto wherever you go. Trading fees on Binance are generally much lower than Coinbase and it has also created its own blockchain-based currency with Binance Coin (BNB) and operates the Binance Pay service where you can buy and sell crypto in your day-to-day business operations. You can even apply for crypto loans using Binance Loan. It is easy to see why the future’s so bright when you have these types of innovative services taking on so many financial roles.
Learn more at Binance.com.
A Quick Guide to Understanding Crypto Trading Services
Now that you have seen what great services there are available to you, we should spend some time going over some of the basic information, and most common concerns, when it comes to cryptocurrencies.
How Do Digital Currencies Work?
A cryptocurrency (commonly called “crypto”) is a form of digital currency that can be used to buy goods or services in many places and is used primarily as a form of digital asset. There is an ever-growing number of cryptocurrencies or “coins” today (it is estimated that more than 10,000 cryptocurrencies are traded publicly at this time), and the prices of each coin can fluctuate dramatically based on their perceived viability and usefulness.
The thing that makes cryptocurrencies so different from what came before is their decentralized nature. Cryptocurrencies are based on blockchain technology, which operates between a large number of computers to record transactions. Blockchain databases allow for information to be stored, but not edited, and ensures that no single entity has complete control over the currency. Since a cryptocurrency is a safe, secure, and easy way to transfer value, it is considered valuable.
Just as the US dollar (which is no longer backed by gold) is only as valuable as people believe it to be, the same goes for crypto coins. They are desired, and valued, due to their ability to be used as an alternative currency.
A huge plus for many crypto users, and why options like Bitcoin caught on so quickly, was the fact that the number of coins in circulation was finite, and could not be artificially increased by a government entity. This ensures that a digital coin can never be devalued due to federal manipulation.
What is an Altcoin?
A cryptocurrency that is not Bitcoin, is often referred to as an Altcoin – as in an alternative to Bitcoin. This is simply a carry-over from the fact that Bitcoin was the first, and is still the most well-known cryptocurrency. However, there are a huge number of coins that are becoming immensely popular and are seeing acceptance on almost the same scale.
How Do You Get Started With Cryptocurrency Trading?
To get started trading and owning cryptocurrency you will need to set up a digital wallet and find an exchange that will help you transfer your money into cryptocurrency and back again. There are many apps that help you do this, and we feel that the best exchange to help you get started is Coinbase. Coinbase helps you easily set up a wallet and begin to trade cryptocurrencies.
What is a Cryptocurrency Signal?
Crypto signals are different markers that are set to register and update you when a chosen coin hits a preset price or time. These trading signals can be based on various technical factors and are generally set by trading experts. The idea is that you are ‘signaled’ when it becomes the right time to buy or sell a certain coin.
Effective cryptocurrency trading requires rapid analysis of current price, volume and other market actions as well as the ability to act quickly; the type of analyses and action that needs computing power and sophisticated techniques. The elite option at the Crypto Rand Group offers one of the best signal services available. They have highly experienced traders who know just when a certain crypto option should be purchased or sold and can help you set trading signals based on your personal needs and goals.
What Currency Should I Invest in?
This is a difficult question to answer, and there are nearly as many theories as there are options. Every few months it seems some formerly unknown crypto option is exploding in popularity and making its holders extremely wealthy, followed by a dramatic market correction. While Bitcoin is the most popular, it is not necessarily any more stable than other coins. Bitcoin has seen some intense fluctuations over the past couple of years, and as we all recently learned, a single tweet by Elon Musk that’s interpreted as investment advice can send it soaring or plummeting.
While it may seem daunting to put money into a market that is currently fluctuating so dramatically, you should keep in mind that most cryptocurrencies have a finite supply and thus are not prone to the same inflation issues as other currencies. Bitcoin, for example, is capped at 21 million total coins – though these can be fractionally divided. This means that, unlike fiat currencies, like the dollar, you can’t have huge amounts of the currency pumped into the system and you won’t see runaway inflation down the road. While the crypto market is currently volatile, once it finds its feet and hits a solid standard of value, it is only likely to increase in value over time as other currencies are slowly devalued. The major crypto options can be viewed as long-term investments more akin to owning property.
Much with earlier technologies and services such as Amazon, it may take some years before crypto options hit a steady value. As inflation becomes an ever growing issue in the West, we are more than likely going to see the more popular crypto currencies continue to steadily increase in value, occasionally shooting up and contracting back down, before steadily growing again.
All that being said, of course, different coins will find varying levels of success. There are financial gurus who do nothing but blog and make videos about the possible future of crypto and what the “next big thing is” and while some of them may know what they are talking about, it is near impossible to know exactly what the future holds and which coin may be your best path to future millions. Only invest what you can afford to lose, but also keep in mind that crypto is the future, and owning the right currencies can be a real path to true wealth.
Is Using or Trading Crypto Legal?
The legality of cryptocurrency depends on the state and country in which you live. In the United States, it is perfectly legal to buy, sell and trade these digital currencies. Some countries like China have a ban on the usage of cryptocurrencies.
It is worth noting that some US states have certain regulatory restrictions that make it near impossible for exchanges to do business in the state. For example, Hawaiian state law requires exchanges to have a cash reserve equal to the value of their currency, which is very untenable – though they have created a few loopholes to allow certain businesses to get around this requirement. For individuals, there are no laws or restrictions about owning crypto.
What are the Tax Laws Around Crypto?
Like all tax laws, the IRS guidelines for ‘virtual currencies’ are convoluted and a bit difficult to follow. Simply put, the same laws that apply to transactions involving property are applied to crypto – so taxes like capital gains can come into play. This means that when you sell your crypto for profit, it is added to your capital gains for that tax period. If you are paid for a service in a cryptocurrency, that will also count as part of your income. Any charitable donation in crypto will be recognized at the fair market value in US dollars of the coins used at the time of the donation.
President Joe Biden has recently announced an increase to capital gains taxes to take place in the next year, meaning that profits from crypto are going to be much more heavily scrutinized and taxed as of 2022, though all major increases will only occur from gains over $400,000. The amount of time you hold onto a currency will also dictate if it is counted as long-term or short-term capital gain. If you plan on investing quite a bit into crypto, you should take the time to familiarize yourself with these rules and what they will mean for you.
How Do I Use Cryptocurrency?
For a long time, it was difficult to find places to use cryptocurrency outside of peer-to-peer transactions with those who also dabbled in the currency. For many years crypto was found primarily in small tech circles and libertarian groups who wanted an alternative to the federally controlled monetary supply. Over time, as popularity grew, more and more businesses and services began to accept forms of crypto as payment. Nowadays it can be surprising just where you will see coins like Bitcoin and Litecoin. There are even small restaurants in countries like Laos that take Bitcoin!
How you go about paying in a cryptocurrency will usually depend on the company in question. In most cases, a large chain store will have partnered up with an app or an exchange in order to easily facilitate these transactions. Here are some examples of very well-known companies that take crypto.
- Microsoft: Microsoft has accepted Bitcoin in its digital store for many years now. Right now you can currently use it on their Xbox live marketplace.
- Home Depot: Home Depot accepting some forms of cryptocurrency through their Flexa checkout system is a big deal. Home Depot is the biggest hardware/home improvement retail chain in the US and can supply everything you need to build or fix up your own home. This has given some coins incredible value and greatly enhanced their general usefulness outside of a prospecting asset.
- Starbucks: With the Bakkt app, Starbucks has recently begun accepting Bitcoin as a form of payment. This means that crypto coins can be used to purchase food or drinks all over the country with only a few clicks of a button.
- Whole Foods: Like Starbucks, Whole Foods partnered with an exchange app, in this case, Spedn, in order to be able to accept coins. This gives cryptocurrency holders access to a huge amount of food and wellness shops.
These are only a handful of the stores and shops that currently accept Bitcoin and other forms of digital currency. As you can see, a huge amount of daily needs can be bought now with digital currency. This is one of the major reasons for the huge explosion in popularity alternative currencies have been seeing.
What is Ethereum?
Ethereum is another major cryptocurrency option but is a bit different in how it got created and how it functions. Ethereum itself was designed around being a global computing platform that was not centralized. The idea was to take the blockchain concept and extend it out to a whole slew of other applications and options. Today, the Ethereum blockchain runs many tools, games, and databases. Ethereum coins just happened to be a small part of the Ethereum project, though this doesn’t make them any less viable as a currency.
Is Bitcoin Actually a Financial Bubble?
While many people may be investing in Bitcoin in order to take advantage of short-term fluctuations, it actually has a lot of factors that make it different from something, like say, a real estate bubble. A true bubble is a false, unsustainable rise in market value that will eventually “pop” when investors realize it has been way overvalued.
The comparison of Bitcoin to a speculative bubble is fairly commonplace these days, but the truth is that Bitcoin has already gone through multiple price cycles and has continued to increase in price over the long run. In reality, all new technologies go through boom and bust cycles, even Amazon once crashed down to only 5% of its previous price at one point. Bitcoin has already shown to not only have sustainable value, but it has also continued to recover and grow stronger through each iteration. We are likely to see more swings in price over the coming years before Bitcoin finally settles on a fairly stable price.
Is Cryptocurrency Secure?
Different cryptocurrencies have different levels of security so to speak. The most popular and desired coin, Bitcoin, has never been hacked and the ways that other p-2-p currencies have been scammed before are not possible within its system. Almost all new coins are based on this model.
Where there is some confusion is that third parties who use Bitcoin have been hacked. You can think of it like someone stealing your password or info and getting into your bank account – the bank itself wasn’t hacked but your personal info for the bank was compromised. Bitcoin itself has never been hacked or compromised.
Now you should have all the information you need to begin your crypto adventure and start trading cryptocurrency. This can be a great way to invest or simply diversify your financial portfolio. With so much uncertainty in the markets today, it can be good to have a backup option that is not tied to the same economic issues as the rest of your assets. By using the sites listed here, your journey into crypto should be easy, painless, and fun.