To trade in cryptocurrency world or to buy and sell, you need to have an account in cryptocurrency exchange and FIAT currency or virtual currency to trade. You can easily trade with your cryptocurrencies like Bitcoin, Ethereum, Litecoin, Verge, in these exchanges for small fees. There are hell lots of crypto exchanges which are currently dealing with virtual currency. But how to know which one is BEST for you?
This article covers some of the most popular cryptocurrency exchanges and will discuss about them in detail.
What is Cryptocurrency Exchange?
Let’s, first of all, know what is a cryptocurrency exchange.
Websites which allows you to buy, sell or exchange cryptocurrencies for other digital currency or traditional currency like US dollars or Euro are called Cryptocurrency exchanges. These exchanges work 24×7 unlike traditional fiat exchanges for buying stocks.
How to select Cryptocurrency Exchange?
Before joining any cryptocurrency exchanges, you should keep in mind few things which can mitigate your problems in the future. Below are some of the points which you should be aware of before joining & doing any transaction in virtual currency exchanges.
Geographical Restrictions: There are some of the exchanges like Coinbase, Gemini, which allows only users from the certain country to join their platform or they will allow to join but, will restrict some of the features, like directly buying from fiat currency. So, choose your platform accordingly.
Exchange Fees: Another key point to consider while choosing your next crypto exchange is the “FEES”. Every exchange has some fees when you trade with them either you buy or sell, they will cut some percentage. So do check their page which talks about their fee structure.
Reputation: It is one of the vital factors for every exchange, so before joining any exchange check their reputation, check reviews of them and then decide if you want to become their customers or not.
Security: One of the worst fear of cryptocurrency trader is the hacking of their account. Which means all of their hard earned virtual currency has gone for the toss. So, before joining any exchange check what security measures they are taking to secure your account. Also, if they are giving any kind of insurance if your bitcoin or any other cryptocurrency gets stolen from their exchange.
Note: Below list is NOT as per the Rankings.
Best Cryptocurrency Exchanges in the World
They are based in San Francisco, California and currently have 20+ million users with the trade volume of $150+ Billion.
To signup, just put your email address and you will get signup form. Once you verify your email and mobile number you are good to buy, sell, receive and send virtual currency. For some countries like India, they have restricted buy and sell.
Kraken is one of the oldest and most trusted cryptocurrency exchange which was founded in 2011. According to their website, it is one of the largest Bitcoin exchange in euro volume and liquidity and also trading Canadian dollars, US dollars, British pounds and Japanese yen.
It is also said to be one of the most secure bitcoin exchange and you will have to do KYC after signup to start trading. Currently, they have listed multiple coins/cryptocurrency on their exchange like BTC, DASH, BCH, ETH, LTC, EOS, XRP, XMR, etc. Do try them.
You can also use this cryptocurrency exchange API and GET or POST calls can be used.
It was founded in 2014 by three cybersecurity engineers and is now one of the most loved and secure blockchain platforms. Currently, its total trading volume is 9,305 BTC ($70,035,775 USD) according to coinmarketcap.com. It is a very user-friendly crypto exchange and has been recently revamped.
To secure your valuable virtual assets, they have multi-stage wallet strategy and the majority of funds are kept in cold storage for additional safety. Also, Bittrex enables two-factor authentication for all users. Apart from this, in total, you can trade between 281 cryptocurrencies which is a remarkable number on its own.
Users can also directly purchase USDT, BTC, or ETH through wire transfer which requires verified account and also, to increase the limit of your account for withdrawal or transfer, you need to verify your account.
It is one of the most innovative cryptocurrency exchange which also allows you to do margin trading and offers lending platform. Sign-up process of this exchange is very simple, though verification may take sometime before you start trading.
Currently, users can trade between almost 100 cryptocurrency and virtual tokens. They also have world-class security and keep most deposits in air-gapped cold storage along with 24/7 monitoring.
It is one of the newest cryptocurrency exchange founded in the year 2017 which is providing their services to blockchain lovers. Binance was founded by Changpeng “CZ” Zhao. It has got its name from the first alphabet of the word Binary and Finance, which makes Binance.
Binance Exchange also has their own token called BNB and users get 50% discount on trading fees by paying with the BNB. Another good thing about Binance is their initiatives to promote blockchain and cryptocurrency. Every day you can find running competition on their website.
As of January 2018, it was largest crypto-exchange with a BNB market capitalization of $1.3 billion. This crypto exchange gives you the ability to trade between 324 virtual currency. They have a desktop and awesome Mobile version of their exchange.
It is one of the world’s first regulated bitcoin and ether exchange where you can buy and sell digital currency. Gemini supports only bitcoin, ether and Zcash. It can also be used for storing your digital asset as they have world-class security and are also licensed by the New York State Department of Financial Services as a limited-purpose trust company and adhere to the highest compliance, consumer protection, and cybersecurity requirements to protect you and your digital assets.
You should note that this platform is only available in few countries and without KYC, you can complete your registration. Do try Gemini.
It is a cryptocurrency exchange which is based in Luxembourg and currency having more than 3 million user base. It allows trading between USD currency and bitcoin cryptocurrency. After signup, you can trade Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), Ether (ETH) and Bitcoin Cash (BCH).
One other interesting thing about Bitstamp is that it offers an API to allow clients to use custom software to access and control their accounts. Bitstamp also offers advanced security features like other exchanges such as 2-step authentication, fully insured cold storage. Bitstamp has 24/7 support and a multilingual user interface and getting started is relatively easy.
It has maintained good reputation worldwide and though it doesn’t have a user-friendly UI.
Bithumb is a South Korean based exchange that is one of the largest based on trade volume. Currently, it has 31 cryptocurrencies which can be traded on their platform. Bithumb also offers wallet and additional services like remittances and gift vouchers.
According to today market, it is in 5th place for “24 Hour Volume Rankings“. Also, signup on this exchange can become a problem sometimes due to language and long signup and verification process. But, it is good for local residents.
It is also one of the famous exchange which was established in 2013 as the first cloud mining provider, and since than CEX.IO has become a multi-functional cryptocurrency exchange, trusted by over a million users worldwide.
Through this platform, you can easily buy and sell Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, DASH, XRP, XLM, etc. through your Visa or Mastercard. The signup process is very simple, though it may take time to verify your credit card.
If we talk about their security measures, they have protection against DDoS attacks, full data encryption, and also compliant with PCI DSS standards.
Bitfinex is said to be the world’s largest and most advanced cryptocurrency trading platform and currently dealing with 77 cryptocurrencies. If you are naive, please don’t join this platform as it is only for professional traders. Moreover, new accounts will not be able to trade or perform any platform function until they reach a minimum account equity of 10,000 USD, which is achieved by depositing cryptocurrency.,
Apart from that it comes under top 5 cryptocurrency exchange having highest 24 hour volume. So, you can have idea how much popular is Bitfinex. If you are an advanced trader, do try this platform.
This was our list of top cryptocurrency exchanges available in the world. If you are using any other exchange which you think can compete or come up on this list, please let us know through your comments below. Also, do let us know what is your experience with these cryptocurrency exchanges.
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