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Cryptocurrency Exchange Reviews
Your first step into the cryptocurrency world will most likely occur through an exchange or brokerage. There are two main types of exchanges that we will discuss in this guide.
The first type of exchange are called fiat exchanges.
These exchanges allow the direct conversion of US Dollars, Euros, and most government-backed currencies into cryptocurrency.
The second type of exchange are called cryptocurrency to cryptocurrency exchanges.
These allow cryptocurrencies to be traded with each other. Crypto to crypto exchanges will be covered more in-depth on the second half of this page.
Depending on what cryptocurrency you are trying to obtain, you’ll need to use certain exchanges.
Based out of San Francisco, California, Coinbase is considered by many to be the most beginner-friendly exchange. It accomplishes this through its beautiful yet simple user interface.
Coinbase is a brokerage, meaning that instead of buying Bitcoin and other cryptocurrencies from other users, you are buying directly from Coinbase.
As far as fees go, Coinbase charges 1.49% on bank purchases and 3.99% on credit and debit purchases.
Due to the lower fees involved, it’s recommended to use your bank account when making large purchases.
Coinbase’s fees are on the lower end compared to other brokerages mentioned later in this guide.
Why use Coinbase?
You should use Coinbase if:
- You are a beginner to cryptocurrency
- You like low fees
- You plan on paying via credit card, debit card, bank transfer, or bank wire.
- Your country is supported by Coinbase (United States, Europe, Singapore, Australia, etc.)
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Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases.
They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 40 US States, and most countries.
Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to.
As long as you have your own wallet, this shouldn’t be an issue!
Coinmama’s fees are slightly higher than Coinbase at 5% when a credit or debit card is used.
Recently, Coinmama has made it possible to sell Bitcoin back to your bank account. This feature is only available in European countries, but it’s likely it will be available to more as time goes on.
Why Use Coinmama?
You should use Coinmama if:
- You plan to purchase cryptocurrency with a credit or debit card
- Your country is not supported by Coinbase
- You have a cryptocurrency deposit address for Coinmama to send purchased crypto to
Bitpanda, called by some the Coinbase of Europe, is a popular brokerage that sells Bitcoin, Ethereum, Ripple, and more for US Dollars, Euros, British Pounds, and Swiss Francs.
Just like Coinbase, Bitpanda has a very simple user interface, making it easy for beginners to successfully purchase in cryptocurrency.
The exchange has several payment methods such as bank transfers, credit cards, debit cards, Skrill, Neteller and more. Depending on which method is used, there may be differing deposit fees.
When it comes time to transact on the exchange, Bitpanda charges 1.49% for buys, and 1.29% on sells making them an extremely competitive option.
Why Use Bitpanda?
You should use Bitpanda if:
- Your payment method is supported (card, bank, Skrill, Neteller, etc)
- You want to purchase a wide variety of altcoins
- Your country is not supported by Coinbase
Headquartered in London, UK, CEX.io offers security, high liquidity, and cross-platform trading. It has somewhat high fees, margin trading, almost 100% uptime, and more.
The exchange was affected by a small hack long back but has had no issues for a while. It has over 2.8 million accounts and a wide variety of cryptocurrencies for sale.
CEX.io appears to have little no fees at first glance. They are able to do this by charging a premium on the Bitcoin price.
When a user buys cryptocurrency on their exchange, they are paying more for the actual currency compared to the other exchanges prices. This doesn’t matter too much as it is basically the same thing as a service fee.
Why use Cex.io?
- Your payment method is supported
- You want to purchase a wide variety of altcoins
Kraken is another popular exchange based in the United States that’s been around since 2020.
In terms of trading fees, Kraken’s are very fair and scale based on your 30-day trading volume. If you’re a maker, they range from .16% all the way to 0%. Taker fees on Kraken range from .26%-.1%.
For funding options, Kraken offers deposits in USD (FedWire), EUR (SEPA), and CAD(Wire & EFT). Like most other options, if you own cryptocurrency already, they allow for several cryptocurrency assets to be deposited on the exchange.
A unique feature of Kraken is that it allows for margin trading with up to 5x leverage. When margin trading on Kraken, eligible accounts can borrow up to $500,000 to go long or short on a cryptocurrency.
Last but certainly not least, the exchange features a powerful and intuitive API for those wanting to take their investing to the next level.
Why use Kraken?
- You want to margin trade (up to 5x)
- You want to trade cryptocurrency on fiat and crypto pairs
- You enjoy low fees
- You want to purchase a wide variety of cryptocurrencies
- Your country is supported
LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange.
On the exchange, users to trade among themselves. Due to the nature of the transactions on the exchange, there is a resolution and feedback system.
It also 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.
LocalBitcoins is one of the better exchanges for users concerned with their privacy. Bitcoin can be purchased in person without linking an identity to an exchange.
Why use LocalBitcoins?
- You plan to use cash to buy cryptocurrency
- You want to use an escrow service
- You want a more private way of purchasing cryptocurrency
Bitstamp is one of the oldest Bitcoin and cryptocurrency exchanges being founded in 2020. They have a wide variety of fiat vs crypto trading pairs.
As one of the oldest cryptocurrency exchanges out there, Bitstamp has proven to be one of the most reliable exchanges out there. They offer top of the line security, with highly encrypted personal information, and over 98% of assets locked in cold storage.
Although it’s based in Europe, Bitstamp users from the United States and other countries can send international transfers for a very low fee.
Want to trade on the go? Bitstamp also offers free mobile apps on Google Play and the App Store.
Why use Bitstamp?
- You want high liquidity
- You enjoy low fees
- You want to purchase a variety of cryptocurrencies
Gemini is an exchange based in New York, US that allows for the trading of USD against Bitcoin, Ethereum, Litecoin, Zcash, and more.
The exchange also offers high security and compliance, top of the line cold storage system that stores information offline, access controls, and multi-factor authentication.
For fees on Gemini’s brokerage service, expect 1.49% fees on buys and sells for orders over $200. Gemini’s brokerage service is an intuitive way for beginners to purchase cryptocurrency.
If you feel comfortable using their exchange feature, have your account switched to ActiveTrader mode. On this mode, fees scale base off your trading volume and are between .35% and 0% depending on if you are a maker or taker.
Why use Gemini?
- You want a secure exchange
- You enjoy low fees
Crypto to Crypto Exchanges
Here’s some information on some of the most popular crypto to crypto exchanges.
Binance is one of the newer exchanges but has impressed its customers on several occasions. They have some of the highest trading volumes on several of their trading pairs, and an enormous amount of coins available for purchase.
It is based in Hong Kong, with offices located in several other countries such as Japan and China. It is available to all countries and US states.
Binance introduced SAFU (Secure Asset Fund for Users), which takes 10% of all trading fees the exchanges earns, to give back to the users in the event of a hack. The exchange did have a hack in May 2020 but covered all user funds using the SAFU fund.
The Binance exchange features their own coin, Binance Coin, that allows users to save big on trading fees.
In June of 2020, the exchange announced that there would be a new exchange for US users to trade on that is separate from the Binance DEX. This is likely due to the regulatory status of cryptocurrency in the United States.
Changelly takes a different approach to the exchanging process. Instead of letting users store their cryptocurrency on their exchange, they set up conversion transactions. Users select an input and output currency and an amount.
In the above example, I selected .1 BTC and an opposing amount of ETH is automatically determined at the going rate. Then, Changelly provides an address to send the Bitcoin to and asks for an address to send their Ethereum to.
This effectively cuts out one step and swaps currencies in real-time. In exchange for their services, Changelly charges .5% on transactions. Fiat currencies such as the US Dollar and Euro can be used, but have slightly higher fees. Pretty cool!
Bitfinex is one of the larger cryptocurrency in terms of volume and users. It is based in Hong Kong and has trading fees of .1% for makers, and .2% for takers. It is important to note that BitFinex does not allow US users to sign up for their exchange.
Please note that Bitfinex is limited in the countries they serve and do not accept US signups.
So to sum it all up… each exchange has different pros and cons, so the best exchange for one person, might not be the best for another.
You should consider a number of things when determining the
best Bitcoin/cryptocurrency exchange for you:
- How safe is the website and server? Secure exchanges are better.
- How is the liquidity? The higher the exchange’s volume, the better.
- What are the exchanges fees? The lower the better.
- How is the exchanges customer support?
- What trading pairs are available?
- How many different payment options does it have?
- Is the exchange beginner friendly?
Most cryptocurrency exchanges will serve their intended purpose in letting users buy cryptocurrency listed on the exchange.
The main differences are the exchanges fees, customer support, the number of supported coins, and supported countries. To ensure you have access to as many cryptocurrencies as possible, it may be wise to sign up for each exchange.
The important things to take away from this page is the difference between the two main types of exchanges.
The first set is commonly referred to as fiat exchanges, and allow users to use credit cards, debit cards, and bank transfers to purchase cryptocurrency. The most popular fiat exchange is Coinbase.
The other type of exchange is known as a crypto to crypto exchange and only allows cryptocurrencies to be exchanged with each other. No fiat currencies or debit/credit or bank transfers are used on these exchanges.
Frequently Asked Questions
How Do I Deposit Into an Exchange?
Depending on what type of exchange you are trying to deposit into, this will differ. If the exchange is a fiat exchange, you must link a payment method such as a bank account, credit card, or debit card.
If it’s a crypto to crypto exchange, you will find a tab or page on the exchange titled wallets, deposits or something of the sort. Click that, and from there you will see a deposit address for every cryptocurrency available on the exchange.
How Do I Withdrawl from an Exchange?
Similarly to deposits, this will vary depending on the type of exchange. Most fiat exchanges allow users to withdraw sold cryptocurrency back into their bank accounts. It is somewhat rare to find an exchange that allows withdrawals to a credit or debit card.
For crypto to crypto exchanges, you can most likely withdrawal from the wallet tab mentioned earlier. You will need to provide another wallets deposit address in order to send the transaction.
Lastly, some exchanges will have limits on withdrawals, that can be improved by verifying your identity.
Can I Buy Facebook Coin on An Exchange?
As of right now, it’s unsure just what will happen with Facebook Coin. We know it will be a stablecoin used to send payments on the social network.
Its regulatory status in the United States is still very unclear, but as time goes on we will know more.
Do I Have to Pay Tax on Cryptocurrency?
Absolutely! While the IRS hasn’t been very clear on their guidelines for cryptocurrency tax law, they are treating them like normal cryptocurrency at the moment.
Here’s an informative slideshow created by the IRS handling cryptocurrency.
The Best Cryptocurrency Exchanges: [Most Comprehensive Guide List]
So you want to start trading cryptocurrencies? Check out this guide to the best cryptocurrency exchanges. Can’t get enough of cryptocurrencies? Take our beginner course on cryptoeconomics.
What is a cryptocurrency exchange?
Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital currency or traditional currency like US dollars or Euro. For those that want to trade professionally and have access to fancy trading tools, you will likely need to use an exchange that requires you to verify your ID and open an account. If you just want to make the occasional, straightforward trade, there are also platforms that you can use that do not require an account.
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Types of exchanges
- Trading Platforms – These are websites that connect buyers and sellers and take a fee from each transaction.
- Direct Trading – These platforms offer direct person to person trading where individuals from different countries can exchange currency. Direct trading exchanges don’t have a fixed market price, instead, each seller sets their own exchange rate.
- Brokers – These are websites that anyone can visit to buy cryptocurrencies at a price set by the broker. Cryptocurrency brokers are similar to foreign exchange dealers.
What to look out for before joining an exchange
It’s important to do a little homework before you start trading. Here are a few things you should check before making your first trade.
- Reputation – The best way to find out about an exchange is to search through reviews from individual users and well-known industry websites. You can ask any questions you might have on forums like BitcoinTalk or Reddit.
- Fees – Most exchanges should have fee-related information on their websites. Before joining, make sure you understand deposit, transaction and withdrawal fees. Fees can differ substantially depending on the exchange you use.
- Payment Methods – What payment methods are available on the exchange? Credit & debit card? wire transfer? PayPal? If an exchange has limited payment options then it may not be convenient for you to use it. Remember that purchasing cryptocurrencies with a credit card will always require identity verification and come with a premium price as there is a higher risk of fraud and higher transaction and processing fees. Purchasing cryptocurrency via wire transfer will take significantly longer as it takes time for banks to process.
- Verification Requirements – The vast majority of the Bitcoin trading platforms both in the US and the UK require some sort of ID verification in order to make deposits & withdrawals. Some exchanges will allow you to remain anonymous. Although verification, which can take up to a few days, might seem like a pain, it protects the exchange against all kinds of scams and money laundering.
- Geographical Restrictions – Some specific user functions offered by exchanges are only accessible from certain countries. Make sure the exchange you want to join allows full access to all platform tools and functions in the country you currently live in.
- Exchange Rate – Different exchanges have different rates. You will be surprised how much you can save if you shop around. It’s not uncommon for rates to fluctuate up to 10% and even higher in some instances.
The Best Cryptocurrency Exchanges
Today there are a host of platforms to choose from, but not all exchanges are created equal. This list is based on user reviews as well as a host of other criteria such as user-friendliness, accessibility, fees, and security. H ere are ten of the best crypto exchanges in no specific order.
Bitbuy.ca is a Canadian owned and operated digital currency platform. Originally founded as InstaBT in 2020, the company’s mission is to provide convenient, dependable and secure access to Bitcoin and other digital currencies. Customer service, ease of use, and quick turnaround times for deposits and withdrawals are pillars of this platform. They cater to beginners as well as experienced traders, and are one of Canada’s quickest growing buy/sell platforms. A great choice for users looking to buy and hold crypto, or users looking for a reliable on-ramp to turn their fiat into crypto quickly and easily.
- Great customer service
- Fast registration and verification
- Quick processing of CAD deposits and withdrawals
- Low fees
- Only offers BTC, ETH, LTC, BCH
- Only available to Canadians
ChangeNOW is a registration-free instant cryptocurrency exchange platform for limitless crypto conversions. ChangeNOW has been on the market for more than a year now and has earned a reputation for reliable service with great rates. The exchange platform does not require account creation, processing fast transactions for more than 170 cryptos, as well as fiat-to-crypto purchases. ChangeNOW stays honest with its customers and collects no hidden or inflated fees. The timing of the transaction remains rather short. Depending on the transaction volume, the processing speed can take as little as 2 minutes.
- Registration-free – no account needed
- More than 170 cryptocurrency coins and tokens listed – more than 36000 trading pairs
- No limits – no maximum exchange amount
- 2 cryptocurrency exchange flows: standard and fixed-rate
- Convenient purchase with credit cards
- 24/7 support
- Mobile application
- No leverage.ChangeNOW does not offer leveraged trading on cryptocurrencies
Backed by trusted investors and used by millions of customers globally, Coinbase is one of the most popular and well-known brokers and trading platforms in the world. The Coinbase platform makes it easy to securely buy, use, store and trade digital currency. Users can purchase bitcoins, Ether and now Litecoin from Coinbase through a digital wallet available on Android & iPhone or through trading with other users on the company’s Global Digital Asset Exchange (GDAX) subsidiary. GDAX currently operates in the US, Europe, UK, Canada, Australia, and Singapore. GDAX does not currently charge any transfer fees for moving funds between your Coinbase account and GDAX account. For now, the selection of tradable currencies will, however, depend on the country you live in. Check out the Coinbase FAQ and GDAX FAQ
- Pros: Good reputation, security, reasonable fees, beginner-friendly, stored currency is covered by Coinbase insurance.
- Cons: Customer support, limited payment methods, limited countries supported, non-uniform rollout of services worldwide, GDAX suitable for technical traders only.
Founded in 2020, Kraken is the largest Bitcoin exchange in euro volume and liquidity and is a partner in the first cryptocurrency bank. Kraken lets you buy and sell bitcoins and trade between bitcoins and euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen. It’s also possible to trade digital currencies other than Bitcoin like Ethereum, Monero, Ethereum Classic, Augur REP tokens, ICONOMI, Zcash, Litecoin, Dogecoin, Ripple and Stellar/Lumens. For more experienced users, Kraken offers margin trading and a host of other trading features. Kraken is a great choice for more experienced traders. Check out the Kraken FAQ
- Pros: Good reputation, decent exchange rates, low transaction fees, minimal deposit fees, feature rich, great user support, secure, supported worldwide.
- Cons: Limited payment methods, not suitable for beginners, unintuitive user interface.
Cex.io provides a wide range of services for using bitcoin and other cryptocurrencies. The platform lets users easily trade fiat money with cryptocurrencies and conversely cryptocurrencies for fiat money. For those looking to trade bitcoins professionally, the platform offers personalized and user-friendly trading dashboards and margin trading. Alternatively, CEX also offers a brokerage service which provides novice traders an extremely simple way to buy bitcoin at prices that are more or less in line with the market rate. The Cex.io website is secure and intuitive and cryptocurrencies can be stored in safe cold storage. Check out the Cex.io FAQ
- Pros: Good reputation, good mobile product, supports credit cards, beginner friendly, decent exchange rate, supported worldwide, API solutions for automated trading
- Cons: Strict verification rules, fees vary with the payment method
ShapeShift is the leading exchange that supports a variety of cryptocurrencies including Bitcoin, Ethereum, Monero, Zcash, Dash, Dogecoin and many others. Shapeshift is great for those who want to make instant straightforward trades without signing up to an account or relying on a platform to hold their funds. ShapeShift does not allow users to purchase crypto’s with debit cards, credit cards or any other payment system. The platform has a no fiat policy and only allows for the exchange between bitcoin and the other supported cryptocurrencies. Visit the Shapeshift FAQ
- Pros: Good reputation, beginner friendly, Dozens of Crypto’s available for exchange, fast, reasonable prices.
- Cons: Average mobile app, no fiat currencies, limited payment options and tools.
Founded in 2020, Poloniex is one of the world’s leading cryptocurrency exchanges. The exchange offers a secure trading environment with more than 100 different Bitcoin cryptocurrency pairings and advanced tools and data analysis for advanced traders. As one of the most popular trading platforms with the highest trading volumes, users will always be able to close a trade position. Poloniex employs a volume-tiered, maker-taker fee schedule for all trades so fees are different depending on if you are the maker or the taker. For makers, fees range from 0 to 0.15%, depending on the amount traded.
For takers, fees range from 0.10 to 0.25%. There are no fees for withdrawals beyond the transaction fee required by the network. One of the unique tools on the Poloniex platform is the chat box which is constantly filled with user help and just about everything. Any user can write almost anything but inappropriate comments are eventually deleted by moderators. It can sometimes be hard to distinguish the good advice from the bad, but the Chatbox is a great tool that will keep you engaged.
- Pros: fast account creation, feature rich, BTC lending, high-volume trading, user-friendly, low trading fees, open API.
- Cons: Slow customer service, no fiat support.
Bitstamp is a European Union based bitcoin marketplace founded in 2020. The platform is one of the first generation bitcoin exchanges that has built up a loyal customer base. Bitstamp is well known and trusted throughout the bitcoin community as a safe platform. It offers advanced security features such as two-step authentication, multisig technology for its wallet and fully insured cold storage. Bitstamp has 24/7 support and a multilingual user interface and getting started is relatively easy. After opening a free account and making a deposit, users can start trading immediately. Check out the Bitstamp FAQ and the Fee Schedule
- Pros: Good reputation, high-level security, worldwide availability, low transaction fees, good for large transactions.
- Cons: Not beginner friendly, limited payment methods, high deposit fees, user interface.
CoinMama is a veteran broker platform that anyone can visit to buy bitcoin or Ether using your credit card or cash via MoneyGram. CoinMama is great for those who want to make instant straightforward purchases of digital currency using their local currency. Although the CoinMama service is available worldwide, users should be aware that some countries may not be able to use all the functions of the site. CoinMama is available in English, German, French, Italian and Russian. Check out the CoinMama FAQ
- Pros: Good reputation, beginner friendly, great user interface, good range of payment options, available worldwide, fast transaction time.
- Cons: High exchange rates, a premium fee for credit card, no bitcoin sell function, average user support.
Bitsquare is a user-friendly peer to peer exchange that allows you to buy and sell bitcoins in exchange for fiat currencies or cryptocurrencies. Bitsquare markets itself as a truly decentralized and peer to peer exchange that is instantly accessible and requires no need for registration or reliance on a central authority. Bitsquare never holds user funds and no one except trading partners exchange personal data. The platform offers great security with multisig addresses, security deposits and purpose-built arbitrator system in case of trade disputes. If you want to remain anonymous and don’t trust anyone, Bitsquare is the perfect platform for you. Check out the Bitsquare FAQ
- Pros: Good reputation, secure & private, a vast amount of cryptocurrencies available, no sign-up, decent fees, open source, available worldwide, good for advanced traders.
- Cons: Limited payment options, average customer support, not beginner friendly.
LocalBitcoin is a P2P Bitcoin exchange with buyers and sellers in thousands of cities around the world. With LocalBitcoins, you can meet up with people in your local area and buy or sell bitcoins in cash, send money through PayPal, Skrill or Dwolla or arrange to deposit cash at a bank branch. LocalBitcoins only take a commission of 1% from the sellers who set their own exchange rates. To ensure trading is secure, LocalBitcoins takes a number of precautions. To start, the platform rates each trader with a reputation rank and publicly displays past activities. Also, once a trade is requested, the money is held on LocalBitcoins’ escrow service. After the seller confirms the trade is completed the funds are released. If something does happen to go wrong, LocalBitcoins has a support and conflict resolution team to resolve conflicts between buyers and sellers. Check out LocalBitcoins FAQ
- Pros: No ID required, beginner friendly, usually free, instant transfers, available worldwide.
- Cons: Hard to buy large amounts of bitcoin, high exchanges rates.
LinkCoin is an Over-The-Counter (OTC) cryptocurrency exchange that was developed by Yesbit Ltd in collaboration with Bibox. Based in Toronto Canada, the exchange processes transactions autonomously via smart contracts. Plus, with a fully functional website, and Android + iOs apps, the platform has the necessary technological infrastructure to provide users with a service that meets all of their investment needs. Linkcoin has 7 cryptocurrencies available for purchase (BTC, ETH, BCH, ETC, LTC, LKN, BIX) plus, with some of the indsutrie’s lowest transaction fees (zero buyer fees + 0.6% seller fees), they make buying and selling cryptocurrencies as affordable as possible. Accessibility is something Linkcoin also values. Which is why they accept interac e-Transfer, Bank Wire, AliPay and WeChat Pay. Users can also pay in either CAD, USD, CNY, JPY, or HKD.
- Pros: No ID required, very cheap to sell, platform token, free to buy, high privacy and security, lots of payment options.
- Cons: Lack of altcoins, limited volume, not beginner friendly.
If your focus is to conduct crypto-to-crypto trading, Binance is one of the best options. Ranked as one of the most popular cryptocurrency exchanges worldwide, they provide you with impressive offerings along with an extremely low trading fee. Although the Binance platform is a young entrant into the market, it is rapidly growing, and holds a huge selection of altcoins with Bitcoin, Ethereum, and Tether pairings.
The exchange offers its own coin termed as BNB (Binance coin). Being a centralized exchange, you can get decent discounts while conducting trade with their token. Binance offers a standard trading fee of only 0.1% which can even be reduced further if the payment is made with in BNB.
- Pros: Ubiquitous platform, platform token, very cheap to transact, available worldwide.
- Cons: No fiat trading, limited payment options.
Co-founded by Tyler and Cameron Winklevoss, Gemini is a fully regulated licensed US Bitcoin and Ether exchange. That means Gemini’s capital requirements and regulatory standards are similar to a bank. Also, all US dollar deposits are held at a FDIC-insured bank and the majority of digital currency is held in cold storage. Gemini trades in three currencies, US dollars, bitcoin, and ether, so the platform does not serve traders of the plethora of other cryptocurrencies. The exchange operates via a maker-taker fee schedule with discounts available for high volume traders. All deposits and withdrawals are free of charge. The platform is only fully available to customers in 42 US states, Canada, Hong Kong, Japan, Singapore, South Korea and the UK.
Check out Gemini’s FAQ
- Pros: Security & Compliance, slick/minimalistic and user-friendly design, great analytics, high liquidity.
- Cons: Limited currencies, small community, average customer support, limited worldwide availability, no margin trading.
Located in San Francisco, Huobi is operated by HBUS Holdco, Inc. (“HBUS”), a U.S. company and strategic partner of Huobi Global, one of the world’s largest digital asset trading and management service providers. At the time of writing, Huobi is only available to Chinese and US residents excluding those residing in Alabama, Arizona, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, Washington , and all U.S. Territories. Huobi offers a plethora of token trading options (Over 50 pairings). As we all know, crypto doesn’t sleep and neither does Huobi as they offer their customers 24/7 free customer support. Fees for USD trades are .1% regardless of being maker or taker, all crypto to crypto trades are .05%.
Pros: 24/7 Free Customer Support, High-Quality Analytics, High Liquidity, Good reputation
Cons: Only Available to Chinese and Some US Residents, USD is the only Fiat Supported
Cryptocurrency Exchanges: Conclusion
Picking the ideal cryptocurrency exchange platform for your specific needs may be a difficult and time-consuming process. Remember to pay attention to the fees, reputation, security, verification processes, and geographical services an exchange platform has to offer. Remember that you are not limited to using only one cryptocurrency exchange. Hopefully, the information provided will assist you in deciding which exchange platform to use.
Crypto Currencies Reviews
Let me help you save your precious time. I’ve been actively collecting and researching the best cryptocurrency sites for the last few years. From my 9-year crypto involvement, I know that finding the most valuable crypto links (sites) can be very difficult, and It doesn’t matter if you are a day trader, miner, or just an experienced beginner, trying to start with cryptocurrencies. The best collection of crypto sites will remain 100% free-to-use and with zero ads.
Are you looking to invest in cryptocurrency? Or are you planning on capitalizing on the benefits of adopting crypto as a payment option? Regardless of how you plan on utilizing crypto, it is certain that you will need the services of crypto exchanges. While this is a given, unwritten rules govern the operations of these platforms. And it is these rules that should help you choose, from a plethora of options, the best exchanges to buy cryptocurrency.
In light of this, this piece will introduce you to the technicalities that define cryptocurrency exchanges and some of the ways to identify the reliable ones. Afterward, we will walk you through our review methodology as well as our list of cryptocurrency exchanges.
What Is a Cryptocurrency Exchange?
How Do I Differentiate Between the Types of Crypto Exchanges Available in The Market?
The Governance Model of The Crypto Exchange
Cryptocurrencies, like bitcoin, opened our eyes to the possibilities of decentralization as well as the downsides of centralized systems. It is, therefore, unsurprising that the concept, which borders on autonomy, has its place within the auspices of the crypto exchange market. As such, there are decentralized cryptocurrency exchanges stylized as Dex, and they give users autonomy, as regards their private keys. In essence, a decentralized exchange allows direct communication between traders. There is no need for intermediaries or requirements that entails users to transfer the control of their holdings to exchanges.
Here, smart contracts feature prominently to deal with issues that could trigger disputes. Some of the advantages of trading on Dex is the zero or negligible transaction fee it offers users as well as its insusceptibility to attacks and hacks – since the platform does not own or operate wallets. Likewise, the framework of this class of exchanges promotes privacy. Know Your Customer and Anti-Money Laundering procedures do not apply to Dex users, especially the completely fully decentralized ones.
On the other hand, centralized trading platforms, which are the most popular crypto exchanges, stand as intermediaries and central authorities governing the activities of users. And so, they establish ecosystems, which rely on their capacity to provide fast and secure trading infrastructures. In return, central exchanges charge fees for the transactions enabled on their websites. Also, they run an exchange model that entails that users utilize their hot wallet services before they can access the platform’s exchange facilities.
Like the decentralized exchanges, the centralized ones have their advantages. Perhaps the most obvious one is the unparalleled liquidity and trade volumes they offer. Users get to carry out instantaneous trades since centralized exchanges can generate and support more activities than decentralized ones.
The Type of Exchanges the Platform Enables
The second differentiating factor of crypto exchanges is the type of trades the platform enables. Here, the details to look out for is the exchange’s readiness to facilitate fiat-related trades. Some exchanges offer users exchange facilities for trading pairs involving fiat currencies and cryptocurrencies. In other words, users can buy crypto with fiat currencies or sell cryptocurrencies for fiat directly on the sites. That said, some restrict their members to crypto to crypto trades. The type of trade you are looking to undertake would determine the class of exchanges that best suits you.
Now that you have an insight into the various classes of exchanges available to crypto participants, the next section will explore some of the questions you need to answer when considering a crypto exchange for your various crypto activities.
Is the Exchange Legal in Your Location?
By now, you should have an idea of the legal standing of crypto in your location. Needless to say, countries with strict regulatory standpoints on matters relating to crypto usually restrict the activities of crypto exchanges. For people located in such countries, trading or transacting on crypto exchanges might attract consequential penalties. As such, you should ensure that trading crypto is legal in your location before accessing crypto exchange services.
For people living in countries that allow crypto exchanges to operate, there is a need to verify that the exchange of your choice satisfies regulatory requirements. Since nations are beginning to set up frameworks for their respective crypto exchange market, it has become difficult for exchanges to run a global business model. And so, the credible ones would rather snub users located in countries with strict requirements. A case study is foreign-based crypto exchanges’ reluctance to offer services to US crypto participants because of the country’s unfavorable regulatory terrain. Participants located in this region have only one viable option, which is to patronize US-based cryptocurrency exchanges that have secured licenses to run an exchange business.
In the same way, you should check for an exchange’s legality in your location before registering or executing trades on it.
How Efficient Is the Exchange’s Customer Relation Culture?
Does the Exchange Offer Premium User Experience, And Is It Beginner-Friendly?
Does It Offer Enough Liquidity and Trade Volume?
As mentioned earlier, centralized exchanges continue to reign supreme over the market. This statement is evident in the volume of trades they process. The largest cryptocurrency exchanges in the space have the infrastructure in place to fill their users’ orders, regardless of their sizes. As such, if instantaneous trade is what you want, then large centralized exchanges are the best fit for you. Nonetheless, liquidity, which is a bit dicey, also comes to play when choosing a trading platform. You can gauge liquidity by analyzing the number of trading pairs available on the platform. For people who own diversified crypto portfolios, it is important to verify that your chosen crypto exchange has a list of trade pairs that encapsulate your crypto portfolio.
While popular cryptocurrency exchanges offer a long list of trade pairs, there is, however, no guarantee that they will support lesser-known cryptocurrencies. In this case, the best option is to look to smaller crypto exchanges or decentralized exchanges for trading services. It is imperative to sort crypto exchanges by volume or the level of liquidity they offer.
What About Its Security?
Security details of crypto exchanges are vital when you compare crypto exchanges. Taking a look at the incessant attacks on crypto exchanges, it is clear that exchanges have to do more to ensure that their platforms are safe. Hence, two-factor authentication has become standard practice for the safest cryptocurrency exchanges, as it gives their users a second level of protection. Also, you should ascertain the security precautions taken to ensure that the exchange’s holdings are less susceptible to hacks, especially for exchanges that offer custody services. The information you need to gather borders on the number of wallets assigned to hold users’ digital assets and the type of authentication measures set up for each.
You should choose exchanges that utilize multisig wallets, which require the inputs of more than one individual in the authentication process. This system curtails single-point attacks or lost assets resulting from misplaced private keys. Furthermore, there is a growing urgency within the crypto exchange space to partner with licensed custodians. You should take advantage of this paradigm shift by choosing platforms with insured wallets.
How Much Does the Platform Charge on Each Transaction, And What Are the Payment Options Available?
Note that crypto exchanges have the liberty to set any amount as their transaction fees. However, for competition’s sake, a majority of the exchanges adopt low transaction fees business models. It is now left for you to analyze the disparities between two or more crypto exchange charges to choose the most reasonable. We advise that you focus on the long-term effects of compounded charges, particularly if you are looking to execute a high volume of trades. While transaction fees may seem negligible when assessed in the short-term, its accumulation over a long period should serve as the telling factor of the platform’s viability.
Furthermore, you should ascertain the payment options available on the crypto exchange website. This assertion holds for cryptocurrency exchanges that accept USD of other fiat currencies. Depending on the policy of the crypto exchange, you might have access to several payment options, and the charges deducted on each transaction may vary.
Who Are the People Managing the Platform, And What Is Their Track Record in The Crypto Community?
It is imperative to research the team backing your preferred crypto exchange. This will help you capture the competence of the team as well as its credibility. To do this, you should ensure that the exchange, especially the centralized one, has a thriving community, which the team engages regularly. You should also check to see the commitment level of the individuals that make up the team. A simple way to go about this is to research the crypto exchange’s community-based projects and its successes. Also, track the platform’s response to security challenges that had once questioned its credibility.
Having examined the factors that should feature in your research, the next section takes a look at how Cryptolinks went about reviewing crypto exchanges in the market and picking the best among the bunch.
What Are the Factors Considered While Compiling the List of Best Crypto Exchanges?
As it is with our culture, we opted for an organic methodology, which showcased each platform’s strengths and weaknesses. While carrying out our crypto exchanges comparison, we analyzed the global reach of each platform as well as its legal standing in major regions of the world. From there, we took a look at the customer service culture of each platform to ensure that they have the resources to cater to their customer base.
Likewise, we assessed the user experience and mobile-friendliness to gauge the platform’s propensity to appeal to new entrants and a larger demographic. Liquidity and volume also came to play, as they projected the exchange’s capacity to execute orders instantaneously. Another factor that features prominently in our methodology is security checks, which helped us ascertain the measures taken to protect users’ digital assets. We expect crypto exchanges to run insured multisig wallets, and this standard was used to score the platforms mentioned in our list. Lastly, we analyzed and compared the transaction fees of each platform.
At the end of these rigorous processes, we had 75 crypto exchanges that did considerably well across all boards. We advise that you read through the pros and cons of each to identify details that could help you pick the best crypto exchange for you.
Today practically everyone has heard about Bitcoin. High liquidity, extensive demand, mind-blowing growth and lots of hopes tied to BTC – that’s what attracts even more investors.
The essence of Bitcoin
Bitcoin is the most famous and demanded cryptocurrency in the world with the total capitalization exceeding $ 100 trillion. Cryptoinvestors, sceptics and even common people are keeping an eye on the Bitcoin’s exchange rate with interest. What can be expected from this cryptocurrency and how to make money with it?
The essence of Bitcoin consists in using of this decentralized currency by people without regard to the currency market, politics and economy in the fastest, easiest and most comprehensible way. All transactions are guided collectively through a network, and the system’s transparency allows any user to check a key’s validity. Interest in the coin is being promoted by the availability of only a limited amount of coins which appear gradually – namely 21 million. Moreover, it’s becoming even more difficult to mine them each year due to the decreasing emission. Also, a lack of backing adds volatility – it’s not clear what will happen to the currency in future.
History of creation
The history of Bitcoin dates back to 2007: at that time Satoshi Nakamoto (there is no certainty whether it’s a real name or a pseudonym) started to develop a conception of Bitcoin. A year later he published a document containing the concept of work of the coin.
The first virtual coin was issued on January 9th, 2009. At that moment a version 0.1 BTC appeared which was supported only by a few Windows versions. In the same month, Satoshi Nakamoto mined the first 50 coins and conducted the first transaction.
In another 6 months the first exchange of the cryptocurrency for fiat money occurred: Martti Malmi got a little more than 5 dollars for 5 050 BTC. The price of the first Bitcoin didn’t even exceed $ 0,001.
Already in December of the same year a version 0.2 was released, and in 2020 – ver. 0.3. Generation of blocks started in a number of flows.
The first astonishing rise of the Bitcoin’s exchange rate took place in the summer of 2020. The most impressive increase was observed in March-December 2020 when 1 BTC cost nearly $ 20 thousand.
Positive and negative feedback
Users who trade Bitcoin actively or use it for long-term investments note the specific nature of the coin and cryptocurrency as a whole. The following can be considered as advantages for consumers:
- full anonymity;
- comprehensiveness, easiness and accessibility of transactions;
- strong interest in this currency causes its high liquidity;
- swiftness and autonomy of conducted payment operations;
- independence from governments, economy and politics, lack of inflation;
- a high (nearly instant) transactions’ speed.
Even professional investors recognize unlimited opportunities for Bitcoin’s growth. Moreover, people who have been working in IT-sphere for a long time also praise it.
There is also a significant number of negative reviews on the Internet. Someone consider Bitcoin to be some sort of an MLM pyramid, others presume that interest surrounding it is created artificially to blow a bubble and make money on common people and investors. The notable minuses are a lack of backing and high volatility.
The Bitcoin exchange rate is a little more than ₽ 431 340 or about $ 6 363. Only 5 years ago this value was nearly 40 times less. And initially, as many as 1 309 Bitcoins could be bought for one dollar!
The high popularity of the coin ensured an enormous growth of its exchange rate, the high liquidity of the currency and its introduction almost into every aspect of life. Today it’s not only possible to trade or exchange Bitcoins for traditional money but also to pay with them for purchases, goods on the Internet.
Despite its unique success, it’s hard to talk about the future of Bitcoin. Even opinions of the most well-known experts vary significantly. On the whole, two major theories can be extracted:
- The Bitcoin exchange rate will increase even more and reach the value of $ 50-100 thousand already in 2020. This opinion is promoted by the crypto investor Petros Anagnostou. The major part of specialists in this field tend to think that Bitcoin will have regained its positions already by the end of 2020 and will reach a mark of $ 25-40 thousand. Nevertheless, the current exchange rate dynamics remains disappointing. One of the possible reasons for the increase of the Bitcoin’s price is its partial legalization in a number of countries.
- Reduction of interest in Bitcoin will occur in a few years and the coin will become practically worthless (the reason for the decrease may lie in the shifting of interest of investors towards another cryptocurrency or outflow of investors from the market in general). Before it happens, sharp fluctuations in the exchange rate with gaps reaching thousands or even tens of thousands of dollars are expected.
Any of the forecasts of the Bitcoin exchange rate provided above cannot be called reliable – too much depends on external factors.
How Bitcoin may be applied?
Global popularity and record-breaking dynamics of growth of the cryptocurrency’s value in 2020 caused raising of questions how to earn Bitcoins and how they can be generally put to use.
Mining: how to earn Bitcoins?
Mining is a classical way to obtain Bitcoins and other coins. The point is to create special structures which ensure the functioning of the cryptocurrency platform. It’s difficult to make money with classical mining today. And, if only 8 years ago it was just enough to have a powerful computer in order to get Bitcoins, nowadays separate farms with specialized equipment which unite tens or hundreds of graphics cards simultaneously are required. It’s almost impossible for an average user to get a hold of such resources.
The classical format of mining is now being replaced by cloud mining. It allows avoiding expenses for the graphics card, their mounting and setting up special software – it’s only necessary to buy capacities of already installed equipment and start to make a profit. The resources themselves are located in data centres. This way of earning Bitcoins is easier, but it’s crucial to choose a supplier thoroughly in order not to be scammed.
People are accustomed to keeping regular money in a wallet, at home under a mattress, in a safe or in a bank deposit. Such variants aren’t available for Bitcoin and other digital currency. A lack of a physical form has caused emerging of a number of ways to store the digital money:
- On a personal computer. Storing is provided via the software which is installed on the computer. It utilizes multilevel protection, encryption and reliable passwords in order to secure the funds. The direct location of storing is called a wallet, it can be presented in a full (requires a lot of space on a computer as the blockchain is downloaded completely) and a lightweight (works via third-party services, so it’s easier to use it) forms.
- On a mobile phone. Coins may be stored with the help of special software which is installed onto the device or a special mobile wallet where Bitcoins may not only be kept but also traded, exchanged or sold.
- In removable storage. They look like flash drives. Such devices serve as offline vaults for Bitcoins. They are characterized by advanced security of funds, availability, ease of use and possibility to work with them from a computer or a mobile phone. But the wallet itself should be purchased. According to its type and functionality, the price differs from $ 60 to $ 200.
- On paper. Suitable for those who want proof of availability of Bitcoins in their hands. In order to visualize them in a form of a QR code, a private key and an address are generated and printed. Such wallets are fully resistant to cyber attacks, but the papers itself should be kept in a safe place where outsiders couldn’t reach them.
- On an exchange. This way isn’t the most reliable one, so experts advise to keep only minor or actively used sums on such platforms.
- On a Bitcoin card. They look like plastic bank cards but are more reliable. A Bitcoin address and a QR code are situated on opposite sides.
You should choose a way of storing according to your own preferences, aspects of working with Bitcoin, capabilities of available devices and a pace of your movements. The perfect choice is to use a number of formats simultaneously and not to keep all Bitcoins in one place.
Ways of withdrawal
BTC is a digital currency which doesn’t have a physical form. So users should know how to withdraw Bitcoins. A usual bank transfer won’t work as the money are stored in special wallets and are out of control of financial institutions. Owners of coins can use the following methods:
- exchange Bitcoins via an exchanger into fiat currency with a transfer to a bank card (VISA, MasterCard) or a personal account in one of the popular payment systems (Yandex, QIWI, PerfectMoney and others);
- withdraw from the cryptocurrency exchange if it supports working with fiat money;
- withdraw directly from the wallet via an electronic payment system (to perform that anonymously, you may use Payeer or Advcash payment systems);
- sell currency on one of the P2P exchange platforms.
Platforms may charge their own fee for a withdrawal and place restrictions concerning amounts and daily limits.
Earnings using Bitcoin
Mining allows earning cryptocurrency. After obtaining it can be withdrawn in fiat money (or the currency can be bought for regular money), stored in an account in expectation of the growth of the exchange rate or shifted to active trading. Among the ways to earn via Bitcoin the most popular ones are:
- purchase of Bitcoins in exchangers – usually applied for a long-term investment with the expectation of a significant exchange rate growth;
- activities on the Bitcoin exchanges – more experienced investors know how to earn using them. The point is to get profit from exchange rate fluctuations. Platforms set their own conditions (types of orders, availability of futures contracts, amounts of fees, ways of deposit and withdrawal of funds);
- cryptocurrency faucets – allow earning Bitcoins without any investment by performing some actions in special online services, but the income is quite low there.
Active trading is suitable for advanced users who understand processes which occur in the cryosphere. Novices should be very careful and aware while investing in this way.
Latest news of Bitcoin
News of July 19
Although Bitcoin lost another 8% on July 13th, naysayers expect a new rate jump. So what does make market analysts so optimistic, especially if we recall its 33% price change that led to its fall?
The most recent Bitcoin rate behavior was far from being satisfactory, and it is not necessary to be a market analyst to interpret the situation correctly. To date, the crypto asset has lost 32% of it’s 2020 highest rate mark of $13,739, and its short-term rate action doesn’t give good signs to Bitcoin owners.
Over the past weeks, BTC has formed a stable line between $13,739 and $13,177 before going down with its price to the mark of $9,600. Despite such a trend, most traders believe that BTC will restore its positions and will reach the Fibonacci Retracement level of 61.8%.
Regardless of the market conditions and trends, some analysts across the market are very optimistic about long-term price action of BTC, which is related to the Bitcoin wallet setting a new record, miner capitulation, and a pre-halving hype to push Bitcoin towards $20,000.
News of June 19
Bitcoin rate (Bitcoin, BTC) overcame the mark of $11 thousand and confidently rushes to $12 thousand for one digital coin. The largest cryptocurrency of the world began a rapid growth in the spring of 2020 after the disastrous year of 2020, when its decline was noted daily. According to CoinDesk.com, at the time of publication of the material, the BTC rate was at around $11.3 thousand – in one day the digital asset went up by more than $500 and this is the highest value since March 2020.
Despite the rapid increase in value, Bitcoin has not yet broken its record. In December 2020, at the peak of its popularity, it costs over $20 thousand, affecting not only the crypto market but also the segment of computer components. Bitcoin provoked an explosive growth in demand for video cards used for mining the digital coins, which led to a shortage and a sharp increase in their value around the world. Well-known crypto-analyst Oliver Isaacs in an interview with The Independent said that, according to his forecasts, by the end of 2020 or in early 2020, Bitcoin will set a new world record. In his opinion, by this period the cost of BTC could reach $25 thousand.
LH-CRYPTO is an online service for crypto-traders
LH-CRYPTO is an online service for crypto-traders. The service is available to everyone, except for the citizens of particular countries and several categories of people listed in the License Agreement. LH-CRYPTO is a free software for making conversion operations with CFDs on various financial assets nominated in cryptocurrencies.
The project does not manage funds and does not guarantee profits. The project only offers a service that allows to make conversion operations with cryptocurrencies on a specially configured software.
This website is maintained and supported by the following legal body:
LARSON AND HOLZ IT LTD
All the settlements in this project are processed solely in cryptocurrencies. Conversion operations are processed on the terms of margin trading without a direct supply of underlying assets. According to the generally accepted term, these operations are called operations with OTC (over the counter) CFDs (contracts for difference).
Trading with OTC CFDs involves considerable risks. We recommend you pay the utmost attention to both theory and practice of margin trading before making any of such operations.
The services provided by this project are not available for: residents of USA, France, North Korea, Spain, Sudan and Syria.
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