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Nowadays, the term “cryptocurrency” has become very popular because of the increasing number of financial investors in the crypto space. They are the key players in raising the market cap of cryptocurrencies. Even new people who don’t know about cryptocurrency, are attracted to doing trading.
“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” ~ Leon Louw, Nobel Peace Prize Nominee
This change brings the need to choose exchanges. So, the new investor is befuddled in finding the best exchanges. Today many exchanges have learned from the big scams. So, we have listed the top 10 cryptocurrency exchanges in the world based on security, features, customer reviews, number of users worldwide and payment options. If you are a beginner, then this article will help you acquire knowledge about all the available exchanges and how to choose the appropriate one for you.
Widely Used Crypto Exchanges
1. Binance
A Hong Kong-based exchange, Binance is another extremely well-known decision over the globe. With late news that China has restricted cryptocurrency exchanges, there is motivation to be fatigued, however, Binance is enrolled outside of China and hence isn’t as of now subject to the ban. It is somewhat one of a kind in that it was partially financed by its own ICO (BNB). This has helped Binance to keep a low transaction expense of 0.1%. Another exceptionally novel element of Binance is its hatchery. The objective is to help other pre-ICO blockchain new businesses accomplish their objectives.
Fiat money cannot be utilized on Binance so you should have purchased Bitcoin, and so forth somewhere else and sent it to your Binance account. On the other side, there are huge amounts of altcoins accessible with trading pairs for the previously mentioned Binance coin, Bitcoin, Ethereum, and Tether. The exchange’s UI is part into two particulars, however similarly clean UIs. Those simply beginning will observe the Basic view to be sufficiently straightforward, while the Advanced view gives a few instruments to more experienced users to do some fundamental technical analysis.
2. Poloniex
In terms of volume, Poloniex is one of the largest cryptocurrency exchanges thus, it has good BTC pairs. You can trade with almost every cryptocurrency using Poloniex even you can use the previous charts of crypto for free. To keep it safe with security and decrease risk, most of the users deposit cryptocurrency secured in cold storage.
If you are going to use Poloniex then it’s better to limit the amount of time on this exchange because Poloniex may be the big target of hackers but these days they are using advanced security features to avoid hackers.
3. Coinhouse
A France based Bitcoin exchange Coinhouse allows all France users and the whole of Europe to buy and sell Bitcoin. You can trade via Visa, or Mastercard credit card, with 3D secure (3DS) activated on Coinhouse which protects against charge-backs.
Coinbase is the most popular exchange in this world, we can buy Bitcoin, Ethereum, and Litecoin. Coinbase’s interface is very easy for new and pro traders.
The customers from the USA, Canada, Australia, Europe, and Singapore can easily buy cryptocurrency from Coinbase via credit cards or bank accounts. It is the biggest cryptocurrency exchange which has more than 8.3 Million users across 32 countries and $6 Billion cryptocurrency exchanges.
Coinbase has its own cryptocurrency wallet for trading and also available for Android and IOS mobile platform. So, the mobile user can download from respective stores.
These exchanges are very helpful for every trader who is trading in cryptocurrencies. Always be aware of the new exchanges coming up in the market. Always use highly encrypted passwords in exchanges.
It has identified verification; Transactions are limited to 200€ to 5000€ per day as it depends upon the quality of documents you provide.
4. Bisq
Bisq allows traders to buy and sell bitcoin in exchanges for alternate cryptocurrency or national currency and it is an open source desktop application.
Anyone can access Bisq without any type of registration. Here, Bitcoin can be exchanged for your local currency as well as with altcoin. It is quite easy to use and If you are concerned about the security of transactions then you should use Bisq. All the user information is stored locally in this exchange so it will only get personally identified data.
Bisq has average customer reviews might not be the best for new traders.
5. Kraken
It’s a San Francisco based company. Kraken is the largest bitcoin exchange in euro currency volume and Kraken also allows you to trade in British pounds, Canadian dollars, US dollars and Japanese yen. So Kraken exchanges are available to users in Canada, the USA, Japan, the UK, and across Europe. Kraken allows fast funding and provides high liquidity with low fees and up to 5x leverage for Bitcoin trading. Kraken may find difficulties for new traders.
6. Bittrex
It’s a US-based exchange and highly regulated exchange that allows the user to trade with the new cryptocurrency. Bittrex is one of the world’s fastest trading exchanges also it has a stable wallet with a security guard. Bittrex offers you a two-factor authentication feature which is common in the standard market.
7. Bitstamp
Bitstamp is the oldest exchange which was founded in 2011. This exchange offers you low transaction fees and it has also survived without being hacked or shutting down. The limitation of Bitstamp is it has limited payment options and it is also not suitable for new people who are stepping into cryptocurrency to trade. It offers you 24/7 customer support and a multi-language user interface is the best feature of Bitstamp exchange. Bitstamp allows you to trade in both cryptocurrencies and money.
Bitstamp is the best exchange for a large transaction with advanced security features.
8. Localbitcoins
Localbitcoins was founded in 2012 and its headquarters is in Finland. In Localbitcoins traders can exchange their local currency to bitcoin. Local Bitcoin site allows the user to post comments to exchange and methods of payment for trading. Reply to a comment helps a user to meet at one place to trade Bitcoin with cash or directly with online banking.
Localbitcoins.com wallet is being used for buying a bitcoin directly. Localbitcoins is using an escrow system to transfer a bitcoin.
9. Bitfinex
Bitfinex is a Hong Kong-based crypto exchange founded in 2012 by Raphael Nicolle. It is known to be one of the biggest exchanges based out of the USA and possesses quite a good User Interface. It offers high USD liquidity and low fees. Along with that, Bitfinex is suitable for various order types, margin trading and lending markets.
10. Kucoin
Kucoin is a multi-cryptocurrency exchange based out of Hong Kong. It offers low trading and withdrawal fees. The platform is quite easy to understand and has a vast number of crypto coins listed. Moreover, the exchange facilitates easy account creation. However, it doesn’t support fiat transactions and margin trading.
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11. CEX.IO
CEX.IO was launched in 2013 and it’s UK UK-based company that provides both exchanges and cloud mining services. CEX.IO allows a user to trade via card payment Bank transfer and crypto capital. CEX.IO allow currency like USD, EUR and RUB to trade with cryptocurrency directly and ETH/USD will be available for trading as per the recent update from CEX.IO. One best features of CEX.IO is offers cross-platform trading, which allows trading access via the mobile app, website, WebSocket, and REST API. It is also available for both Android and IOS mobile platforms so the mobile user can download the app to their own devices.
CEX.IO is been optimized for both pro traders and new traders. It provides low purchase fees and instant cash receipts.
12. CoinMama
CoinMama was launched in 2013 it offers to buy bitcoin via credit card or cash deposit through MoneyGram and the Western Union money transfer. It has a user-friendly interface means new traders and pro traders can use it easily. CoinMana allows you to buy Bitcoin daily for up to $5,000. You need ID verification to make a large purchase.
The main disadvantages of CoinMama are its high exchange rate and average customer reviews.
Also, other exchanges like Bancor, and Bithumb are at soaring levels. So, these were the 10 widely Used crypto exchanges as of today. Let us know which one are you using or would love to use, in the comments below!!