Finding the best cryptocurrency exchange is not the lightest task in 2018. As Bitcoin and other Altcoins grow, there is a very large number of services around them. One of these is cryptocurrency exchange platform where you can buy cryptocurrency. But how to choose the right, safest, most secure and cheapest exchange?
I've created a cryptocurrency Exchange list where I tested these exchanges, I wrote their strengths and negatives, I took into account parameters such as exchanges volume, or where is cryptocurrency exchanges based.
If you are looking for a cryptocurrency for FIAT like USD or Euro, it is important for you whether is crypto exchange based. (US based, Euro based, etd..) International transactions can be expensive.
Crypto exchanges can be divided into two groups
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|
|6||No||A||No||Boston, MA, USA||EN||BTC|
|8||No||No||A||No||Seattle, Washington, USA||EN||BTC|
|9||No||No||A||Hong-Kong||EN, JP, CN, KN||BTC|
|10||A||London, United Kingdom||EN||USD, EUR|
|11||No||A||No||Russia||EN, RU, CN||USD, EUR|
|13||No||B||Hong Kong||EN, RU, CN, KR, JP||USD, CNY, JPY|
|16||No||B||No||USA||EN||USD, EUR, GBP|
|17||No||B||No||China, Singapore||EN, RU, CN, KR, JP||BTC|
|18||No||No||B||No||Hong Kong||EN, CN||BTC|
|19||No||A||No||Tokyo, Japan||JP, EN, CN, FR, KO||JPY|
|21||No||No||B||No||Hong Kong||EN||USD, CNY|
|22||No||B||No||No||China||EN, JP, CN, RU||USDT, BTC, ETH|
|23||No||No||B||EN, DE, ES, FR, IT, NL, PL||BTC|
|24||No||A||Czech||EN, DE||EUR, CZK|
|25||No||B||No||Vienna, Austria||EN, DE||EUR|
|28||No||No||Russia||EN||EUR, USD, RUB|
|30||No||No||A||Singapore||EN, RU, FR, PT, NL, ES, CN||BTC|
First thing to consider when looking for the top Bitcoin exchange is how safeis the website and server. This boils down to asking: Is it a trustworthy exchange providing transparent data of coins in cold storage and are customers happy? It's also good to look for which currency pairs are available: are you looking to trade bitcoin for USD, Euros, or other fiat currencies.
Every Exchange uses its own trade platform, here it is hard to judge which one is the best, because each user prefers something else. The best cryptocurrency trading platform is therefore harder to look for. Some people prefer simple control and some complex sophisticated solution that offers stop loss, margin trading and lending.
Other-currency exchanges that have a large amount of currencies often do not offer a USD or Euro deal. One of the options that it offers is USDT (Tether), which is "cryptocurrency" which tries to keep the course in 1: 1 ratio to USD.
The following table lists all available cryptocurrency exchange sites, and they are ranked according to the rates they received at the closer rate. Each cryptocurrency exchange contains a detailed review where detailed information is written.
How to trade bitcoin
Hopefully the list of bitcoin exchanges above will be of good use for how to trade bitcoins. Each outstanding site should have detailed instructions. From here, one can easily figure out how to buy bitcoin with credit card, paypal, cash, bank transfers. Once you have got some coins then it is a good idea to store them offline (not on an exchange). For "cold" vs "hot" storage options - check out the list of available wallets. When wanting buy or sell it is safer just to transfer in and out of your ‘cold’ wallet to the ‘hot’ online exchange. Remember that so long as an offline wallet’s keys have not been compromised, then those coins cannot be taken.
It’s a tough question in my opinion. Each will have an upside compared to others. Check a few out and look up on forums to see what users are saying about the service provided, and which they think are the best sites to buy bitcoin easily. Localbitcoins.com is a really cool p2p bitcoin exchange for beginners wanting to buy for their first time. The service is all over the world, meaning you can use euros, pounds, yen, australian dollars, swiss francs, canadian dollars, krona, rubles, lira, rupees and so on. If you pay by physical cash then you get to meet the person in real life. Alternatively you can do a fast bank transfer and the site will hold your coins in escrow for you once it goes through. Obviously there are more simple ways to start off. Some like to buy with paypal, but not many leading bitcoin exchanges accept this because of chargebacks.
Generally the biggest bitcoin exchanges will be toward the top of the above list. For example Bitfinex, GDAX, Bitstamp, Coinbase (also the best usd bitcoin exchange) all represent large volume proportions. Daily volume varies, and therefore the world’s largest exchange vary each day. Go to bitcoinity for a good list of all the top bitcoin exchange site and their proportional volumes. Some find this handy for arbitrage between markets.
Sadly, with the demise of Cryptsy there is a need for a new major first-rate cryptocurrency exchange (aka altcoins). Having many medium-sized cryptocurrency exchange sites is a better situation than having one large amazing option. Bittrex (new account creation temporarily disabled) has now replaced Poloniex as the largest most amazing option. Its platform is functional enough to have attracted tens of millions of new customer every month. Things feel smooth when using Bittrex. All big and small trading pairs are offered and it is now possible to do cryptocurrency margin trading on major altcoins. This is a cool feature, but use it with caution as leveraged trading has a certain risk factor. Keep in mind that some of the best bitcoin exchange sites also do altcoins. Yobit, Bittrex, Cryptopia and Changelly, are great options worth checking out. Some even offer short selling on major coins.
You may also like to check the coin rankings & market capitalizations on coinkapp - which has a splendid comparisons list of the top cryptocurrencies. Alternatively, coinmarketcap offers a rather simplified list.
This is an important question to ask. Yes, putting the words trustworthy bitcoin exchange in the same sentence seems like an oxymoron, especially when remembering the shiny days of MtGox (aka Empty-Gox). While the bitcoin protocol has never been hacked, many peripheral businesses have. Perhaps the best question to ask would be: which are the least secure bitcoin exchanges. Generally, those listed here are optimum and of good standing, but please proceed with caution. Remember never to leave more btc online than you can afford to loose.
Please come back to my blog and rate which ever finest site(s) you chose to buy BTC online. This helps future visitors immensely.