Slowly and steadily, Bitcoin and altcoins are getting attention from more investors all around the world.
And why not? These cryptocurrencies are time and again proving themselves to be a safe haven against governments inflationary policies.
Thats why some people are even securing cryptocurrencies astheir retirementfunds, while some are doing pure speculation with short-term trading (i.e. buy low, sell high).
And lets not forget about those who are just starting off by looking around to find the answer to questions like:
But before we talk about the best exchanges out there, I need to tell you that its not too late to get invested in cryptocurrencies. At the time of this writing, the Bitcoin and altcoin market is at anall-time high, with a market cap of $166 billion. I believe we will cross the $250 billion mark later this year.
So now that you know youshouldinvest, heres where you need to go to do that.
Here is a consolidated list of best cryptocurrency exchanges with my comments:
For Acquiring Cryptocurrencies:
If you live in a country where its not easy to get Bitcoin, you can use any of these three websites. All three of them offersto buy Bitcoin using a credit/debit card.
Note: This list is starting from easy to use exchanges and moving towards some of the advanced exchanges.
Binance is a rapidly growing exchange that concluded its ICO a few months back.
Though it is based out of China, it doesnt serve its native country but is open to almost all countries around the world.
Since its ICO to till date, it has grown tremendously and is now placed in top 10 cryptocurrency exchanges in the world.It now has more than 140 altcoins listed on it which are only increasing as the days are passing.
Binance being a centralized exchange has taken a unique take to expand its business and also provides a decent discount for day traders if they use BNB coins.BNB is Binance Coin which is the native currency of this platform.
Read:Binance Cryptocurrency: A Unique And Rapidly Growing Crypto Exchange
Binances fee structure is also unique. To start with they have 0.1% standard trading fee which is already quite less than other peers. You can even reduce your fee furtherif you pay your trading fee in BNB according to the below-shown structure.
To get started with Binance you need to register using your email ID and the process is quite simple & fast. Moreover, you get 1 QTUM coin as a kind gesture for registration which is limited to 10,000 QTUM coins on first come first basis.
Binance is one of the few exchanges that offers mobile app for iOS and Android. Being using it for a while, I find it too easy to trade cryptocurrency while on the move. You can watch this video to learn how to use their mobile app.
They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users,Binance Angel Program, and theCommunity Coin Per Month etc for more adoption of their platform.
Register a free account on Binance
BitMex is high volume crypto exchange created by a talented team of economists, high-frequency traders and web developers for the crypto community.
Here you will never find any issues regarding the liquidity of your cryptocurrencies.
The primary currency traded on this exchange is Bitcoin and its future contracts.
Apart from Bitcoin contracts, one can also play around with future contracts for altcoins such as Bitcoin Cash, Ethereum, Cardano, Litecoin, Ripple.
The registration process on BitMex is quite simple where you just need to register through your email ID and their fee structure is also quite straightforward as shown below:
Trade On BitMex
KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coin such as DragonChain, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS.
To get started with KuCoin, you can deposit any crypto of your choice ex: BTC and start trading. Personally, I have been using KuCoin since last quarter of 2017 and they are getting popular day by day.
Get started with KuCoin
Changelly is one of the easiest ways to get ahold of various cryptocurrencies.
Changelly has a proven track record of consistently good products being put out into the crypto-space.
One of the best things about Changelly is that you dont need to go through any lengthy verification or registration process. You just log in with your email ID (or any email ID) and start exchanging!
Currently, it supports more than 35 cryptocurrencies along with fiat pairs such as USD/EUR. It is one of the best and easiest to use exchanges out there.If you want to know more, check out Harshsreview on Changelly.
When you use Changelly to exchange cryptocurrency, Changelly bots connect in real time to some of the best and busiest cryptocurrency exchanges in the market to get you the best price.
Usually, when using Changelly, a crypto-to-crypto exchange takes 5 to 30 minutes.
They charge a commission fee of 0.5% on each trade, which I think is minimal in exchange for the volatility and risk that they bear on behalf of their users. In addition to the commission, a miners fee is also paid by the user and is deducted directly from their crypto balance.
But all you need in order to buy from Changelly is aVISA/MasterCard (credit/debit card) or any Changelly-supported cryptocurrency and a wallet where you want to receive your new coins.
The procedure is very simple.
Head towardCoinSutras Cryptocurrency Exchange Changelly, and follow the steps given in thisguide.
Note:Though this guide shows how to buy Ripple in exchange for BTC, the process is exactly the same to buy any other Changelly-supported cryptocurrency.
And if you want to buy cryptos using a VISA/MasterCard, then here is their officialstep-by-step guide on doing that.(Even though this guide is for buying BTC using a VISA/MasterCard, the process is the same as buying any other Changelly-supported cryptocurrency.)
Check out Changelly
Huobi Pro is an internationalcryptocurrency exchangethat originated in China but now has moved across the world to serve a maximum number of investors. It is based out of Singapore and has been operating in this space successfully for the last five years.
As we speak, it occupies the #3 spot on CoinMarketCaps list of exchanges by volume and has 244 cryptocurrency pairs. Hence, needless to say, of this, you will never face liquidity problems on this exchange.
They also have mobile apps for bothAndroidandiOSfor users who want to trade cryptos on the go.
Theirregistration processis also pretty simple and straightforward, so go ahead and do the needful. Oh, and just so you know, the exchange fee is also pretty low. Have fun.
Do read,Huobi Exchange Review & Benefits of HT token: Can It Pull Off Another Binance?
Bittrex is aUS-based cryptocurrency exchange that provides you the option to trade more than 190 cryptocurrencies at a time. They are well-regulated and compliant with all of the current US rules, so crypto users need not worry about the safety of their funds.
Bittrex handles one of the largest BTC trading volumes out of all the exchanges in the world.
Here, the users (buyers/sellers) decide the rates in which they want to trade, and Bittrex charges them a small service fee for providing this platform (0.25%).
To get started with Bittrex, you need to register and log in through your email ID, but to withdraw funds, you need to do a KYC by submitting your ID documents and phone number, as well as enabling two-factor authentication for higher limits.
But one good thing about Bittrex is the account verification happens quite fast.
Bittrex supports two types of accounts:
Bittrex is a crypto-only exchange, meaning it doesnt allow you to deposit fiat currencies such as USD, EUR, GBP, etc.
They provide access to advanced trading tools like candlestick charts and crosshairs, but the user interface is quite clean and intuitive, so newbies should have no problems.
You can visit Bittrex and open a Bittrex accountby following this official step by step guide here.
Check out Bittrex
Founded by Tristan DAgosta, Poloniex has been operational since January 2014 and is undoubtedly one of the biggest cryptocurrency exchanges in the world.
It is based out of the United States and offers +100 cryptocurrencies to its users to trade.
When you talk about trade volumes, nothing beats Poloniex. In 2017, Poloniex had the highest volume for ETH because it supports an independent Ethereum market as well as a BTC market.
It is a crypto-only exchange, but you can start trading easily by depositing USDT (Tether dollars).
Poloniex also has zoomable candlestick charts for 5-minutes, 15-minutes, 30-minutes, 2-hours, 4-hours, and 1-day, along with a stop-limit feature for advanced cryptocurrency traders.
Poloniex charges a fee of0.15% to 0.25% on all trades depending upon whether you are a maker or a taker.
So if you are looking to trade a variety of altcoins, then you should give Poloniex a shot.
To get started with Poloniex, follow this official guide.
Remember: As soon as you sign up for Poloniex using your email,do make sure to enable two-factor authentication!
Check out Poloniex
Bitfinex is another one of the largest and most popular cryptocurrency exchanges out there.
Based out of Hong Kong and operational since 2014, it gives its users the option to trade the following 13 cryptocurrencies in exchange for USD or BTC:
Update: They have added a lot more cryptos recently.
Unlike Bittrex and Poloniex, you can trade using USD (with a wire fee of at least $20). Also, users will need to pay a trade fee which varies from 0.1% to 0.8% (details here).
Also, whenever you withdrawal or deposit anything, you are charged a certain fee:
On Bitfinex, if you are a pro-trader, you will find advanced trading tools such as limit orders, stop orders, trailing stop, fill or kill, TWAP, and others, along with different market charts.
To get started on Bitfinex, you need toregister,verify your ID, andauthenticateyourself. It typically takes 15-20 business days aftersubmitting valid ID proof before youre accepted into the platform.
And whenever you get bored with the web version or want to trade on-the-go, you can use Bitfinexs Android and iOS mobile apps.
Check out Bitfinex
Using the above cryptocurrency exchanges will allow you to buy almost all of the cryptos you could ever want to buy.
However, there are a few more cryptocurrency exchanges that you should have an account with, as there are a few coins that are only available there. Its a good idea to have an account on most of these, which will save time when you discover a winning coin.
Some of those exchanges are:
I will update this post as I find other trustable and feature-rich cryptocurrency exchanges. For now, you can consider joining our Telegram channel to stay updated with all thelatest info.
I hope these insights help you in choosing the best cryptocurrency exchange for you to use.
But one word of caution:
If you are storing cryptocurrencies on these exchanges for a few hours or even a few days for the sake of trading, then its probably OK. Otherwise, this is a bad practice.
Large-scale hacks like Mt. Gox can happen at any time. I would strongly recommend you to use the Ledger Nano S or a wallet like Exodus, where you can store a lot of different cryptos and control your private keys.
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