Bitcoin! Litecoin! Ethereum! – excited! perplexed! and what not.
You also feel like jumping on the bandwagon of the mystic world of cryptocurrencies and get your USD, EUR or GBP converted into Bitcoin or Altcoins, which seem to have a better future or future return.
First of all, you’ll have to find a cryptocurrency exchange for this purpose.
Then, the next question – which is the best cryptocurrency exchange?
This question has become paramount in the minds of the cryptocurrency users and investors; as the news and reports of the failure of the cryptocurrency exchange itself sometimes like MtGox, the bankrupted exchange; and more often, the breach of security of cryptocurrency exchanges themselves, and
theft of cryptocurrencies owned by people like you.
It’s not an easy task to point out the one best exchange for
cryptocurrencies, which will fulfill all your needs and sort out all the
problems related with cryptocurrencies.
You should consider a number of parameters to judge and find out the
best Bitcoin/cryptocurrency exchange:
- How safe is the website and server? Secure exchanges are better.
- High liquidity.
- Transaction fee structure of the exchange like fixed fees, percentage
fees and spread.
- Whether exchange provides transparent data of coins transactions, prices,
- How many and which currency pairs are available to trade Bitcoin, for
example USD, Euros, and other fiat /government issued currencies, or
- Multiple options to buy Bitcoin like PayPal, credit card, etc.
- Are customers happy?
- Good user ratings.
Some of the best Bitcoin/cryptocurrency exchanges are as under:
Coinbase is considered by many as the best exchange for cryptocurrencies like Bitcoin, Ethereum, and Litecoin. It has own associated wallet with Android and iOS apps. Some of the users have complained of privacy violations.
Coinbase was founded in 2012. It is headquartered in San Francisco, California. It allows the users to make recurring purchases to invest in various cryptocurrencies. It is one of the most renowned cryptocurrency exchanges in the world.
Bittrex is a Las Vegas, US based and regulated exchange. It offers trading in many cryptocurrencies, tokens and newer coins. It supports more than 190 cryptocurrencies. It offers speedy transactions, high stability, and follows some risk management practices.
Kraken is one of the best Bitcoin/ cryptocurrency exchanges. It provides reliability, high security environment, some legal compliance, and advanced order types like stop-loss orders. It also offers high liquidity, low fees, fast funding, margin trading, etc. It has uptime problems occasionally. It was founded in 2011. It is headquartered in San Francisco, California.
BitFinex claims to be the largest and most advanced Bitcoin trading platform. It offers fast transactions between many cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ethereum Classic, Ripple, Dash, Monero, Iota, and Zcash. It offers high security, margin funding, leverage trading, and advance order types. It offers apps for Android and iOS as well. It was also affected by hackers. It was founded in 2012. It is headquartered in Hong Kong.
CoinMama is simple to navigate and it doesn’t need initial cryptocurrency. You can use normal cash for buying cryptocurrencies. CoinMama covers about 200 countries, more than most of the other Bitcoin/cryptocurrency exchanges. It is headquartered in Virgin Islands.
LocalBitcoins offers a peer-to-peer (P2P) exchange. It allows users to trade among themselves individually. It offers lower fees. It also offers a resolution system, a rating system for traders, etc. It allows users to post a quick buy or quick sell ad on the exchange platform. It is one of the best cryptocurrency exchanges for peer to peer trading.
Gemini Exchange is a New York, US based exchange. It only trades three currencies: US dollars, Bitcoin and Ethereum. It has low fees. It offers high security and compliance, ultra modern cold storage system that stores information offline, access controls, and multi-factor authentication.
Bisq is a decentralized, private, and peer-to-peer Bitcoin/cryptocurrency exchange. It’s an open-source cryptocurrency exchange and easy to use. It uses high level of encryption. It allows you to access instantly with no registration requirement. Bisq has low fees. It also offers arbitration.
Bitstamp is a Bitcoin/cryptocurrency exchange with very high volume. It offers a lot of liquidity. It has very easy to use interface. It has got improved security features. It was founded in 2011. It is headquartered in Luxembourg. Bitstamp is also known for accurate prices.
You’ll find the foregone analysis quite useful. But, it’s better that you do your own research before undertaking any transactions and judge the suitability of the exchange taking into account your individual needs and characteristics like your risk appetite, fees, security, etc.
CEX.IO offers security, high liquidity, and cross-platform trading. It also offers lower fees, margin trading, almost 100% uptime, etc. It is headquartered in London, UK. It was affected by a small hack long back. It has high number of verified accounts.