Are you looking forward to investing in cryptocurrencies? If yes, then you have landed on the best page on the internet to guide you through it. The first thing required to buy cryptocurrency is, well real money but the second thing you need is permission from your parents (hell no!). The point is if you have the money and you want to purchase some cryptocurrencies like Bitcoin, Ethereum, Dogecoin, and Shiba Inu, you will probably need some sort of a platform. Worldwide, cryptocurrencies can be bought from and sold to public trading platforms called crypto exchanges. Most of the exchanges also provide you with a wallet to store the coins you have purchased.
Talking about crypto exchanges in Australia, there are many options but there are a few things you need to keep in mind before starting to invest in crypto through public trading platforms. We understand how overwhelming it can be to start investing in something relatively new to the entire world. It has its upsides and downsides. Crypto in particular can be complex, especially when you don’t understand blockchain, use cases, future scope, and why the holding is spelled holding in the crypto community.
To make it easier, you must look for the following traits before choosing a trading platform for crypto:
- Trustworthy
- Up-to-date
- security
- easy to use
- features
Before talking about these points in detail, let me tell you that we have researched and experienced all the available options and found Cointree to be the best cryptocurrency exchange operating in Australia. Cointree fulfills all the requirements mentioned above and also provides guidance for beginners which is a unique feature missing from other leading exchanges around the world.
Trustworthy
Trust is probably the most valuable asset you can invest in and Cointree offers that alongside many cryptocurrencies. It has been around since 2013 when crypto itself was known by a few, let alone crypto exchanges. If you know anything about crypto, you are probably aware that decentralization is one of the key fundamentals of blockchain technology which means crypto exchanges were not a part of the original Bitcoin revolution and yet Cointree was started around the same time as Coinbase.
Cointree has been serving for almost a decade now and millions of users around the world have trusted it with their life savings. Moreover, Cointree is referred to as one of the most transparent trading platforms as it shows exactly how much fiat currency is exchanged for crypto and how much convenience fees are charged per transaction.
It also maintains a list of the recent transactions on the dashboard(homepage) so that you can have a balance sheet accounting for every penny that you spend on the platform.
Up-to-date
Being up to date can have multiple meanings for a trading platform. An exchange should be up to date about the real-time pricing of tokens in the global market, it should be updated about any new threats that crypto is vulnerable to but most importantly, an exchange should be able to list the latest cryptos from around the world as soon as they are launched.
Rapid listing of coins can be tricky at times because no one knows at the time of Initial Coin Offering or ICO whether a token has strong fundamentals or is simply another pump and dump fraud. Cointree not only makes a swift listing of a newly launched token but also verifies that it is not a fraud by running several background checks on the founders and their credibility.
As of writing this article, Cointree offers 130+ tokens from around the globe that are fundamentally strong and can be bought using the Australian dollar.
Security
As mentioned before, trusting a platform with your life saving can be difficult if it is vulnerable to cyber-attacks and not up-to-date with its security. Both individual wallets of users and the reserves of exchanges should be stored securely with multiple layers of protection. Cointree claims to use bank-level protection and security checks with regular improvements for newer hacking techniques.
Cointree has never been a victim of a major hacking attack or data leak of users which is rare especially when the bigger brands like coinbase and Kraken often report hacking attacks worth millions of dollars of users’ assets or data.
Even with such a good track record, cointree advises users to keep their assets in a cold wallet or physical offline wallet if they plan to hold their crypto for the long term and in large quantities.
Easy to use
Who wants to deal with a dull, clunky user interface every day when you can enjoy the feel and vibe of Cointree’s brightly colored UI.
Cointree has one of the most beginner-friendly user interfaces of all platforms. After you complete the quick verification and sign-in process, you are presented with a minty-colored dashboard that holds the list of all the cryptocurrencies up for grab, a list of recent transactions, and a wallet section that shows your portfolio.
To add money to your wallet, simply tap in the top right corner and add funds using internet banking, debit/credit cards, PayID, or mobile banking. Cointree offers two more unique and convenient ways to add funds: cash and recurring deposits.
You can pay in cash in one of the 1300 stores spread across Australia and your money will be safely added to your wallet in a matter of seconds.
Secondly, if you are a wise investor and want to invest a small amount periodically to save and invest at the same time, cointree allows you to set up a recurring deposit using any of the payment methods and it can even automatically buy the coin of your choice every week or fortnight or month once the deposit has been made in your wallet.
Features
First of all, cointree offers three types of free account creations: beginner, experienced, high net worth. This allows Cointree to offer a tailored and customized experience to each user.
Secondly, the most impressive feature is the feature to track and follow the top profit-making traders on cointree which means free real-world guidance alongside chunks of profit from day one. Top trading portfolios are displayed in a form of a pie chart in the wallet section of your dashboard.
Cointree also offers a safe and secure multi-coin wallet for free to all its users which means you neither need to pay for a separate wallet nor worry about misplacing your cold physical wallet.
Conclusively, cointree performs well in all key aspects of a crypto exchange platform and offers extra which is in particular useful for beginners with their easy-to-use UI and top portfolio tracking feature.
