What is the best way to choose a platform for trading cryptocurrencies


The basic functions of any trading platform include: selling and buying cryptocurrencies, depositing and withdrawing funds, as well as storing finances on the account. But professional and quality crypto exchanges also offer additional features, such as analytical tools, portfolio management, and others. Together they improve the interaction between the trader and the market.

A short checklist on choosing a platform

1. Determine your needs.

First, define what you expect from the trading platform. Would you rather work in an application on your computer or have access to the web? What is your trading style and what are your goals? Do you only want cryptocurrency trading tools or would you like them for analysis as well?

2. Explore existing platforms.

Make research among the top cryptocurrency exchanges. Study the functionality, trading conditions, commissions, and security of each platform.

3. Assess the reputation.

Study user reviews and exchange reviews to get a general idea of the quality of services.

4. Check safety.

Make sure the platform uses two-factor authentication and other security measures to protect your account.

5. Make sure you have support.

Make sure that the crypto exchange provides proper support to its users. Pay attention to the communication methods with technical support, response time, and quality of service.

6. Test the platform.

Before choosing a platform, try it out for yourself. Open a demo account and try trading through the platform. Remember to evaluate its functionality and usability.

7. Make a choice.

After doing some research and testing the platform, make the choice that is most appropriate for your needs.


How can you check the reputation of a platform

Checking the reputation of online exchanges is an important step in choosing one. Here are some tips to help you:

  • Explore the platform: Explore the platform site and its functionality. Review the terms of use, privacy policy, and other relevant documents.
  • Make sure the platform is properly licensed and regulated by the appropriate organizations.
  • Study the reviews of users who have already used the platform. Search for reviews on independent resources such as forums, blogs, and social networks. Be careful with the reviews on the platform’s website, as they might be biased.
  • Check the historical background of the platform, including its creation period, management, and investors. Find out if the platform has had problems in the past, such as data leaks or security breaches.
  • Examine how the platform ensures the security of its users, including the protection of personal data. Make sure the platform uses state-of-the-art encryption and multi-factor authentication.
  • Contact support and ask them questions about their work, services, and safety. Pay attention to the speed and quality of answers, as well as the professionalism and friendliness of the support staff.


In general, one of the most important steps when choosing a trading platform is to check the reputation of the platform, since you entrust it with your assets.

What are the functions you should pay attention to

A cryptocurrency trading platform can help you access the cryptocurrency market and analyze particular assets in real time. Here are a few aspects to focus on when choosing a platform:

Access to a variety of cryptocurrencies

The majority of cryptocurrency trading platforms offer access to a variety of cryptocurrencies, including the most popular ones such as Bitcoin, Ethereum, and Litecoin, as well as lesser-known altcoins. All these platforms provide information about cryptocurrency rates as well as historical data on them. Pay attention to the availability of liquid assets.

Tools for analyzing cryptocurrencies

There are many platforms offering different analysis tools that can help you make trading decisions based on the analysis of certain data, depending on the functionality of the tools on the platform. Take a look at the contents of the article ‘’What is wrong with technical analysis?’’. Your task is not to look for a grail but to find instruments allowing you to analyze objectively. Resonance provides a set of 10 such tools. You can a href="https://resonanceholding.com/rtt" target="_blank">read more about them here.

Risk management systems

Most platforms offer risk management systems, such as stop loss and take profit, all of which have the potential to help you with protecting your capital.

Traders community

An active online community of traders who discuss crypto, and their trading ideas and share their experiences can help you improve your skills and knowledge of cryptocurrencies and trading in general.

Summarizing, cryptocurrency trading platforms will help you access the cryptocurrency market and trade in real-time, as well as provide tools and features that can help you make informed trading decisions and protect your capital.

The role of a community platform

The community plays an essential role in the development and success of cryptocurrency exchanges. The community is a group of people who actively use the platform, exchange experience, information, and ideas, and also provide input into the development of the exchange.

How exactly can a community be useful?

  • Feedback from users to help it improve its services and functionality. The community can report any problems, shortcomings, or ideas.
  • The community can help the platform evolve by contributing to the development of new features and tools. In addition, it can offer some new ideas, help test new features, and give feedback regarding its performance.
  • Support: the community can help other users of the platform by answering their questions, and sharing experience and advice. This helps create a friendly and supportive atmosphere on the platform, with the potential to attract new users.
  • Advertising and attracting new users by talking about your experience using the platform and recommending it to others. This can be one of the most efficient methods of promotion because recommendations from satisfied users are considered to be those of the most reliable.


There are many crucial factors you should focus on when choosing a platform: functionality, community, and support. After researching and testing the platform, make your choice according to the parameters that are most suitable for your needs.


You may also be interested

Bidsbee, Our Crypto Social Trading Partner, Is Live!

Bidsbee, Our Crypto Social Trading Partner, Is Live!

Great news! Bidsbee, a social trading platform with a copy trading functionality, is LIVE now! Its trading experience is truly exceptional, offering advanced tools that most CEXs can’t match. Copy trading is a great way to grow a trading community and monetize trader’s skills.

Opportunities for traders with Good Crypto – official partner of Resonance

Opportunities for traders with Good Crypto – official partner of Resonance

Meet the official partner of Resonance – GoodCrypto’s crypto trading app. Find your bonus in the article.

Market volatility: how to take advantage of it

Market volatility: how to take advantage of it

In the article, we analyze the concept of volatility analysis and its use in trading. Volatility allows you to evaluate how justified the entry is, the optimal distance to the stop, and also estimate possible targets.