Introduction
Many people have now started to get into cryptocurrency. The reason here is that many people who once had nothing became so rich because of crypto. This created a new era and people started to look for a trading platform where they can buy and sell crypto. However, crypto could be a risky investment if you don’t know much about the coins you are investing in.
The question is, how do you get to learn about the crypto trading platforms and coins you want to invest in? The answer is quite simple. By reading reviews about the coins you can get to know everything needed that will help you make a better decision. Sites like wellcrypto are doing so well in providing relevant information to the users about some great crypto trading platforms and much more.
In this article, we will be talking about two famous crypto trading platforms bitfinex and localbitcoins and we’ll be reviewing everything you need to know. So, without any further delay let us learn about these platforms.
1) LocalBitcoins
To start with the localbitcoins review, it’s a must to mention that it is one of the famous P2P exchange platforms which helps users to buy and sell the bitcoin directly. It came into being around 10 years back from now, 2012 to be precise. This exchange is different from others in multiple ways. Firstly, the transaction from this platform is done between the users, the platform only guarantees that both the users/parties accept and act upon the conditions set for the trade.
Secondly, the price of the bitcoin is decided by the users. For example, the seller will set their own price if the buyer is interested they will show their interest and have a discussion. There onwards after the settlement of the price, the trade is executed by selecting a method of trade. LocalBitcoins in the current times is one of the most liquid P2P exchanges.
Pros
To choose LocalBitcoins as your go-to exchange, you’ll be blessed with a lot of major benefits. Firstly, the buyer can buy the bitcoins online or even offline by setting up a meeting with the seller if they want to. Other than that, a lot of currencies can be used, 248 currencies of different nations to be precise. Multiple international payment systems are made available for a smooth trade. Moreover, you can use altcoins to make any payment.
Cons
Everything that exists in this world has both pros and cons, LocalBitcoins is no different. The users of this platform have to face some inconveniences as well. LocalBitcoins users can only trade bitcoins and no other crypto. Furthermore, you need to keep updating your account if you want to trade actively.
2) Bitfinex
To have a bitfinex review, it is a platform in which you can invest, trade and exchange digital assets. This company was also founded 10 years ago in 2012. The platform has huge popularity among professional traders. The users that are registered have huge benefits. Talking about the benefits takes us to the pros and cons of Bitfinex.
Pros
Bitfinex has a wide range of digital assets. Technical analysis is important when it comes to crypto exchanges. Bitfinex has just under 50 instruments for technical analysis. Lastly, it has user-friendly phone applications.
Cons
The deposit minimum in flat currency is quite high. Moreover, there is a lack of options like no take-profit options or stop-loss options.
