Before you can buy, sell and trade cryptocurrencies, you must first sign up to a reputable exchange. There are so many exchanges, it’s important you do your research before joining one to make sure it’s not a scam. Most of it comes down to preference but there are a few things to look out for and a few things to point out. Luckily, you’ve found this article somehow and i’ve done all the research so you don’t have to. Without further adieu, here are the best/most reputable cryptocurrency exchanges in my opinion (in no particular order).
Coinbase is one of the most popular exchanges. It’s extremely easy to use and it’s a relatively safe place to store your coins. You can buy Bitcoin, Ether, and Litecoin instantly with a bank account or credit/debit card. If you are a US citizen, you can even use Paypal as a payment method. Coinbase is available in 32 countries and currently supports selling in 30 of those countries (Canada and Australia are excluded).
- Instantly buy Bitcoin, Ether, and Litecoin with credit/debit/bank/paypal.
- Sell Bitcoin, Ether, Litecoin.
- Very simple and easy to use user interface.
- Can not sell if you’re in Canada or Australia.
- Have been known to “randomly” close people’s accounts and hold funds until verification. It’s best to not hold a large amount of coins here as a precaution.
- Site goes down more often than the others on this list.
Kraken is one of the top European based exchanges and offers a variety of fiat to bitcoin pairs such as JPY, EUR, GBP, EUR, CAD, and USD. The exchange also has 16 popular crypto to crypto trading pairs including ripple, litecoin and dogecoin. The fees depend on the trade volume and range from 0.05% to 0.75%. Like most exchanges, kraken has two factor authentication for added security.
- Funds are safe and secure. Provide multiple levels of two-factor authentication for maximum safety.
- Currently has 16 of the most popular digital currencies including the big three (BTC, ETH, LTC) and smaller ones such as ripple and dogecoin. A wide variety of currencies.
- Can deposit/withdraw USD, CAD, GBP or EUR funds used for buying/selling your currencies.
- Takes a few weeks to verify account (needed for funding/withdrawing)
- Website is a little confusing, especially for new users.
Poloniex is a pure crypto to crypto exchange based in the United States. They had a huge site upgrade back in 2015 where they added technical analysis charts and live chat which means it is easy to stay aware of news flow and analyze price trends before taking a position. Trading fees are flat at 0.2% and deposit and withdrawal fees are subject to the blockchain’s specific transaction fee.
- Has a large selection of cryptocurrencies including a lot of smaller altcoins
- Has over 60 digital currencies available for trading
- Another one of the largest cryptocurrency exchanges based in the USA.
- Detailed data/charts and a beautiful user interface
- Cannot buy digital currency, just trade it.
- Some users have reported that they have lost funds when trying to deposit into poloniex. It is unclear whether this is an issue with the blockchain or poloniex itself.
- Slow verifications
Bittrex is one of the largest crypto to crypto exchanges. They have the widest selection of digital currency, even highly volatile currencies. Because of this, you will likely see some pump and dump schemes which hurts the cryptocurrency ecosystem as a whole. Trading fees are 0.25% with no reductions like cryptsy – and withdrawals are completely free and subject only to the transaction fee specified in the blockchain of the particular crypto currency.
- Huge selection of cryptocurrencies to choose from
- Advanced charts, easy to use user interface
- Fast identity verification
- Little to no issues with “lost coins”
- Low, flat rate (0.25%) fee
- Spotlight of best performing coins on homepage
- Support can be a little tough to get ahold of
- Logs you out after a short period of inactivity, then you have to login again. This can get very annoying if you have two-factor authentication turned on (you most definitely should!)
So there you have it. The exchanges listed above are all trustworthy and should be enough to get you going with cryptocurrencies. Once you find an exchange you like, there’s really no reason to switch. My advice would be this: have one exchange where you can buy Bitcoin and Ether (such as coinbase) and one crypto to crypto exchange (such as bittrex). Then, simply transfer those coins you bought to the crypto-crypto exchange and you’ll be good to invest in a wide variety of altcoins. If you have any questions, please don’t hesitate to ask them in the comments below!
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