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Trading with cryptocurrencies is becoming more and more popular these days. Slowly but steady Bitcoin and the altcoins are getting more and more attention around the world. Some people are even securing cryptocurrencies as their retirement funds, while some are doing speculations with short-term trading (buy low, sell high). Every day new people wants to get involved with the cryptocurrencies. They are looking for the answer where to buy cryptocurrencies, what are the best cryptocurrecy exchanges? In the two previous posts I have told you about the 2 types of cryptocurrencie exchanges where you can buy and sell. The decentralized and the centralized crypto exchange. I went through some of the prons and cons of both of them. Today I will tell you about the most popular and safest crypto exchanges.
Do not be surprised that different exchanges offer different rates. Therefore, always remember that you must shop around and not settle immediately for certain exchange. Because this makes a big difference on your investment, especially if you like to trade on a daily basis. Since the fall of Mt.Gox as the biggest exchange, many traders have become wary of these exchanges as they are uncertain how reputable they are and whether their money is safe. For this article I have chosen 8 of the biggest exchanges. Please do not mind if I will miss a few of them. So let’s go through the 8 major exchanges:
CEX.IO is registered in UK and provides sufficient security and is one of the more well regarded Bitcoin platforms in the world. CEX.IO users have a high degree of confidence and trust in the company. This platform enables you to easily trade fiat currency with cryptocurrencies and vice versa. The platform also offers personalized and user friendly trading dashboard and margin trading, for professional traders. CEX.IO offers a brokerage service for inexperienced traders to purchase bitcoins on a very simple way according to the market rate. All you need to do is go to the main page and sign up for account. CEX.IO requires additional forms of identification to verify and validate the account. It is also one of the first exchange to accept credit card paymnets (credit and debit). Supports instant buying and selling of Bitcoin, Ethereum, Litecoin and accepts multiple fiat currencies like (USD,EUR,RUB). There are over 600.000 active traders on the platform.
Binance is located out of China, and it is a rapidly growing exchange. It is based in Hong Kong with offices in Japan. Binance announced on March 23rd that they are moving to Malta. It is placed in the top 10 crypto exchanges in the world. It has more than 140 altcoins listed, which are increasing. To get started with Binance you need to register using your email ID, and the process is quite simple and fast. Binance is one of the few exchanges that offers mobile app for iOS and Android. Binance is capable of handling 1,400,400 orders per second, making it one of the fastest exchanges on the market today. They have support of English, Spanish, Japanese, Korean language.
Coinbase is one of the most popular exchange platforms to date, and also most reputable.It is very easy and secure to buy, use, store and trade digital currency. It is located in San Francisco (USA). It allows you to exchange currencies like Bitcoin, Ethereum and recently itecoin. They have also a digital wallet that is available on iPhone and Android. The selection of tradable currencies, depends on the country you live in. Coinbase allows transactions in the US, Europe, UK, Canada, Australia and Singapore. The method of payment is also limited and restricted to bank transfers, credit/debit cards and PayPal. To get started all you need to do is sign up for your account.
Poloniex is located in Delaware (USA). Poloniex offers a secure trading environment with more then 100 different altcoins and advances features for professional investors. With Poloniex there is no support of fiat currencies, bank transfers or credit card transactions. The deposits must be done in cryptocurrencies. After you will deposit your funds there is an option to store value in USDT (Tether), it is a cryptocurerncy that represents US $ (ex: 1 USDT should be the same as 1USD). Poloniex provides some of the lowest fees. A small down side in Poloniex is its security and customer support. So do not keep large sums in the exchange. Always use a cold wallet, for storing.
Kraken is the largest Bitcoin exchange in euro volume and liquidity also trading in Canadian dollars, US dollars, british pounds and Japanese Yen.and is the first partner in the cryptocurrnecy bank. It is also located in San Francisco (USA). It is rated as one of the most consistent and secure Bitcoin exchanges. Kraken also allows the trade of digital currencies such as Ethereum, Monero, Litecoin, Zcahs and many more. Kraken caters towards more experiences users where it offers margin tradings and other advances trading features. Kraken has very decent exchange rates, low transaction fees as well as minimal deposit fees. The payment methods are very limited. To open a basic account to start trading, you need to sign up for your account on their main page where it requires your personal details, like government issued ID and a proof of residence.
KuCoin is relatively new exchange that is based in Hong Kong. Although it’s new, the KuCoin team has already proven itself as a reliable exchange. Registering to join KuCoin is very simple. You need to go on their site and make an account. KuCoin has a very modern layout throughout the website and you can trade Bitcoin and many other altcoins. At the moment KuCoin does not accept fiat currencies, only crypto. KuCoin also offers very low fees for trading and withdrawals. There is no fee to make a deposit, and the trading fees are only 0.01 % based on the asset that you purchase. Some of the key features that KuCoin has are: Efficient customer service available 24/7, Financial system stability, Financial safety, fast processing and a few more.
Bitfinex is another one of the largest and most populat crypto exchanges out there. It is based out of Hong Kong, operating since 2014 and accepts Bitcoin and other altcoin like – Ethereum, Zcash, Monero, Litecoin. Here you can trade also with USD (with a wire fee of at least 20$). Also when you deposit and withdraw anything, are charged certain fee. To get started on Bitfinex, you need to register, verify your ID, and authenticate yourself. Usually it takes 15-20 business days after submitting valid ID proof before you’re accepted to the platform. On January 12th 2018 they opened the registration, but put a limit of 10.000 $ or equivalent cryptos to be deposited. Bitfinex has also Android and iOS mobile apps.
Bittrex is located in the US, and provides you the option to trade more than 190 cryptocurrencies. They are all well-regulated and compliant with the US rules, so the users don’t need to worry about the safety of their funds. Bittrex handles one of the largest Bitcoin trading volumes out of all exchanges in the world. To start trading on Bittrex, you need to register and log in through your e-mail, but to withdraw funds you need to submit your ID documents and phone number. The verification is very fast. Bittrex, does not support fiat currencies, it only supports cryptocurrencies. Bittrex supports two type of accounts: Basic – where you can withdraw up to 3 Bitcoins per day. Advanced – where you can withdraw up to 100 Bitcoins per day.
This is my pick of the top 8 exchanges where you can trade. Some honorable mentions as well: Cryptopia, Bitstamp. Coinmama, Cryptsy, Gate.Io, Coinseeter. In this post I wanted to give you a small overview of the top 8 exchanges.
If you have any question about these exchanges, or you want to know more about certain exchange, you can always contact me, and I will be more than happy explain you. Whatever exchange you choose, always be safe. Do not put all of your funds in the exchange. Trade with certain amount.
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