31
Choosing which platform to use for investing in cryptocurrencies is crucial. This should not be overlooked and this is the main reason why we decided to conduct our research and publish this comparison and ranking for 2022.
That being said, everyone is going to have different expectations. Perhaps you want to make the most of a simple-to-use interface? Are you looking for a specific token / crypto? Or do you want to take advantage of low costs? To help you in your process, we have decided to list all of the aspects to consider and questions to ask in order to choose the best platform for buying and selling cryptocurrency.
This list is not exhaustive :
Security and reliability: is it possible to enable two-factor authentication (2FA)? What is the reputation of the exchange? How long has it been on the market? Is the platform on the AMF's blacklist? Is it regulated? Ask yourself these questions and research these different topics. In France, eToro is regulated and registered with the ACPR Banque de France.
Ease of Use, Interface and Application: If you are new to buying a cryptoasset for the first time, it is important to ensure that the platform you choose is relatively easy to learn and use. This will go through a well thought out and ergonomic interface. Also be sure to look at the mobile apps side. At this level, know that all the crypto platforms present in our comparison offer an application compatible with iOS and Android. That being said, if ease of use is your number one concern, ZenGo seems to be the best choice for a crypto platform.
Choice of cryptocurrency: Not all cryptocurrency exchanges offer the same diversity. So yes you will always have the opportunity to buy Bitcoin, Ether. Now if you want to invest in a less popular and more "exotic" token, you will need to ensure that the chosen platform offers it. It is good to note that crypto platforms are constantly updating the list of supported assets in order to meet the demands of their customers.
Fees: Like online stock brokers, platforms that buy, sell, or trade cryptocurrency charge transaction fees. To increase the profitability of your investments, it is important to ensure that the costs are as low as possible. This could save you tens or even hundreds of euros in the long run.
Deposit and withdrawal methods: the means supported in order to make a deposit or withdrawal differ from one actor to another. Some will allow you to deposit only money by making a transfer (SEPA, SWIFT ...), while others also support deposits via credit card, PayPal, etc. This also applies to withdrawals.
Features: choosing the best crypto platform for you also requires focusing on the features offered. We think, for example, of being able to do staking, of being able to do copy-trading (eToro is the benchmark in the field), of having access to leverage effects, or of being able to use a credit card specific to the exchange (as is the case with BINANCE or Crypto.com).
Customer support: The last aspect that seems important to us is obviously customer support. You will rarely need it in general. It is still good to make sure that you will be able to get satisfactory and prompt answers. To judge the quality of customer support, take a look at the help center made available, the social networks of the crypto platform in question (they very often have a dedicated account for customer service), as well as user reviews.
With all of these in your possession, it's up to you to prioritize and make a choice. If you want our opinion, the cryptocurrency platform that best covers all of the listed needs is eToro. It will meet the expectations of the most beginners, but not only. If you want to take it a step further, take advantage of competitive leverage and spreads, this is a great crypto platform.
