Best bitcoin exchanges
The question of choosing the best bitcoin exchange does not lose its relevance. Many large exchanges are closed for registration, some have lost the trustworthy after hackings or dishonesty of the owners. Practically every day there are exchanges and services with attractive conditions for cooperation. The market of cryptocurrency is inert and poorly regulated. Therefore, the authority of the stock exchange plays an important role in this niche. We have collected the bitcoin exchange list and arranged the information about them on this site in such a way that it could be convenient for you to filter and sort the stock exchanges in accordance to the required parameters. And the rating based on bitcoin exchange reviews from the real users will help to avoid unreliable and inconvenient services.
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How to buy and sell bitcoin?
In their functional sense, the cryptocurrencies stock exchange - are the virtual resources on which one crypto-coins can be exchanged for the others. Many of them provide the exchange of cryptocurrency for fiat money and vice versa. The exchange of one cryptocurrency for another is possible if both are traded at the exchanger. That is if there is a corresponding pair. For example, the presence of a pair of BTC / LTC means that on this stock exchange it is possible to exchange Bitcoin for Litecoin or vice versa. The absence of one of these cryptocurrencies will mean that it is impossible to do this here. The same principle works with fiat money.
Let's analyze the process of using the exchange on the examples and find out how to buy bitcoin online.
The scheme of the work with cryptocurrency exchanges is quite simple and includes several steps:
- 1. Registration procedure. In most cases, this process does not fundamentally differ from the registration on other sites.
- 2. Money input procedure for the trade or exchange. For the input of fiat money more often it is necessary to pay a small commission since the exchanges are not obliged to pay commissions of the payment systems.
- 3. Creation of an order (request) for Bitcoin purchase. The user himself sets the desired price, for which he is ready to buy or sell the desired currency, and starts bidding by placing his application (offer) in the general list.
- 4. If there is a person who is ready to sell bitcoin - by the specified price, the transaction may be concluded. If the price is not adequate at the market, the buyer may not be found. If there is an active trade on the exchange, then, in fact, you can buy bitcoin instantly.
If the transaction is successfully concluded, the user can withdraw funds from the exchange or leave them in the exchange wallet for other transactions.
Using the stock exchange is the easiest way to buy bitcoin, because you do not need to create your wallet and keep the entire blockchain on your computer. The best way to buy bitcoin is to conduct the bitcoin exchange comparison with a help of our web service. Here you can look through the reviews and ratings of different exchange services and choose a reliable one for bitcoin exchange with lowest fees.
How to exchange bitcoin for USD?
There is no sense in describing all the steps of the instruction on how to sell bitcoin, the procedure 'bitcoin to USD' exchange is practically the same. If you are curious about how to exchange bitcoin for cash, it is also very simple procedure. You just need to first withdraw the money from the exchange in the form of fiat money and cash them out in a usual way. You can also use the 'local coins' service and exchange the cryptocurrency directly for cash.
What is the difference between the usual stock exchanges from the cryptocurrency exchange services?
In general, both types of exchanges operate on the same principle, but they are often different in terms of functionality and the range of options.
Here's on what you need to pay attention to find best sites to buy bitcoin:
- The choice of cryptocurrencies. On some exchanges, there are only the most popular currencies in trade, on the others there may be tens and hundreds of cryptocurrencies pairs.
- The withdrawal of cryptocurrencies. Somewhere you can only withdrawal Bitcoin, Litecoin and a couple of known currencies, and somewhere - the dozens of types of crypto-coins and five other varieties of fiat.
- The possibility of an input/withdrawal of fiat money. Some exchanges work only with cryptocurrencies and do not have such an option.
- Commission. Basically, it is charged with the conclusion of the transaction. Some exchanges take the commission only from the buyer (the taker), some from both the buyer and the seller, i.e. the user who created the application/request (the maker), but other commissions may also be levied.
- User data. Some exchanges are limited to a standard e-mail request, while the others require a verification procedure, during which you may need the scanned copies of the passport and/or other documents.
- Account protection. Somewhere, to sign-in, it is enough to have a password, and somewhere you need to go through a complicated login procedure with confirmation of various data.
- Methods of the input of money and the withdrawal. Some exchanges can offer you to withdraw the money only through a couple of payment systems, while the others provide with an option of a bank transfer or crediting from the card or transferring to the card.
- Daily trading volumes. Somewhere they may exceed $2 billion, somewhere they do not reach $10 thousand.
Some exchanges offer additional opportunities and bonuses. Among them there are:
- the possibility of margin trading, margin financing;
- detailed charts with the construction of Fibonacci levels and other trading tools;
- accrual of interest on deposits;
- referral programs;
- availability of mobile applications;
- various loyalty programs for the returning customers, for example, when you pay less commission rate after the 99th exchange procedure etc.
Finally, there are some important parameters for every user, such as language options. Almost all the exchanges support EN language as a basic one, but there is a support for the others, including Russian, French, Spanish, German, Japanese etc.
The efficiency of the support service is no less important. The tech support itself is available almost everywhere, but not everywhere it works as expected, such exchanges are not the best place to buy bitcoin. As after all, when any problems or controversial situations occur, it is better when those are resolved quickly in order to avoid financial losses and unnecessary nerves.
The choice of the stock exchange should be approached very responsibly. Sometimes some cryptocurrency exchange services and individual accounts are hacked, so it is not recommended to keep the large amounts and money on the exchanges which are not required for trading. As the long history of cryptocurrency shows, the biggest bitcoin exchange is not always the best. Sometimes, the owners of the exchange can suddenly freeze the account and/or "borrow" the user's funds without a return, so you should choose the exchange for work very carefully, not succumbing to the temptation to use a little-known exchange service for the sake of the cheapest bitcoin exchange.
Strictly speaking, the cryptocurrency exchangers earn mainly on the commissions, the aggregate volumes of which can reach very high levels as the user base increases and, in particular, when the user with a large capital is attracted.
Why are cryptocurrency exchanges needed?
On the cryptocurrency exchange markets, you can find traders, miners, investors and just people who needed to exchange money. All of them use exchanges for the purpose of earning money, or for the purpose of exchanging funds.
Cryptocurrency exchanges can be used in the same way as stock-markets, and traders earn on them by the same principle. At this stage, they are significantly more profitable than their more traditional counterparts, since the cryptocurrency is highly volatile. It goes without saying that if a trader in the traditional market earns good money on the fluctuation in the price of the shares, which for example grow by 9% a year (and this is still a good indicator), then on cryptocurrency market, where the currencies per day can soar by 20% - one can get an appreciable profit. Of course, if that person has all the necessary skills and experience.
Miners change the less popular cryptocurrency for the more popular. Often, it is more profitable to mine the new cryptocurrency But it is more reliable to accumulate savings in Bitcoin or Ether.
Some traders play within not one, but several exchanges. So they earn not only on fluctuating the exchange rate relative to others but also on the difference in the exchange rate of the same currency on different exchanges. However, on the traditional market, the ordinary traders do the same, so here, in general, there is nothing fundamentally new.
Investors behave on the stock exchanges rather passively. From time to time, they buy currency in relatively large quantities and put it in their wallet, and sometimes they search how to exchange bitcoin for USD. Sometimes they observe fluctuations in the exchange rate: on some cryptocurrency exchanges there are convenient graphs that allow you to track fluctuations as much as possible, and investors use them to determine the most profitable investment.
Occasionally, there appear some people on the stock exchanges who want to buy or sell bitcoin if, for example, they have received coins as a result of selling a certain product or service, or vice versa they want to make a purchase using Bitcoin. Or if you are not even a miner buy you don’t know where to buy bitcoin, you can always use our service to find the best cryptocurrency exchange.
How to choose the best cryptocurrency exchange?
If you decide to get engaged in a trading with cryptocurrencies seriously, then it's worth doing your own research and picking up one or more of the most suitable cryptocurrency exchange sites. It is worth to learn and analyze the cryptocurrency exchange reviews, it is also desirable to track the news of exchanges in order to withdraw the money from the suspicious exchange at the slightest risk. When choosing a stock exchange it is worth paying attention to the next factors first:
This factor is one of the most important in the issue of choosing a trading platform. When registering on the exchange, you should always pay attention to the ways of your account protection. The safest cryptocurrency exchange will obligatorily provide a two-factor authentication, password-protected security system and use the technology of a "cold storage" of data.
2. Number of trading means
There are exchanges that provide for trading only a dozen of the most popular cryptocurrencies. And there are exchanges that have hundreds of trading means in their arsenal (for example, Bittrex or Poloniex). Therefore, when choosing a stock exchange, the kind of cryptocurrency you specifically want to buy will play an important role. If the main ones, such as Bitcoin, Litecoin, Ethereum, Ripple, then, in principle, almost any stock exchange will be suitable for you. And if you are interested in other less known altcoins, such as Gambit, for example, or Yoyow, then you need to choose some top cryptocurrency exchange.
3. Exchange interface
Much will depend on how well you know the English language. The matter is that the majority of cryptocurrency exchanges do not have the site localizations to your native language, therefore you will need a knowledge of English even on elementary (school) level. Of course, you can always use the translator option in the browser, but then you should not expect a high-quality translation of information. Therefore, if your English knowledge is poor, it is better to look at the options for exchanges with you native language site version or multi-lingual support. You can look through all the available languages in our cryptocurrency exchange list.
Before choosing an exchange for cooperation, you need to get familiarized with the commission rate that will be deducted from your trading operations. For each purchase or sale on the exchange, the user pays a commission. On various trading markets, its amount is in average 0.2% per a deal.
5. The input and withdrawal of money.
This is also an important factor. It is necessary to look, what options for replenishment and for money withdrawal are offered by a stock exchange and what variants will be the most profitable for you. Some exchanges will provide a fairly wide range of payment systems for operations with both fiat money and cryptocurrencies. The other exchanges, on the contrary, allow you to input and withdraw funds only in the cryptocurrency. On our website, you can conduct a cryptocurrency exchange comparison and choose the convenient In / Out options for funds.
This factor is very dependent on the daily trading volume. It's clear, the bigger is the volume of trading, the more liquid the stock exchange will be.
7. Verification of the identity.
There are exchanges that take the verification of their customers' data very seriously (for example, the Kraken exchange). And there are also exchanges that allow their customer to conduct money transactions without data verification. For example, the popular exchange Poloniex allows you to output up to 2,000 of dollars without verification. If the customer wants to withdraw more money, then he needs to pass the verification of his account on the exchange. In addition to the main criteria for valuing exchanges, you also need to pay attention to such additional factors as the place of registration of the exchange, the convenience of the trading platform (whether technical market analysis tools are provided), margin trading, etc. Also, each cryptocurrency stock exchange is a subject to the laws of the country in which it is registered.
Now you can easily find a safe, authoritative and convenient cryptocurrency exchange site which has in its arsenal all the necessary cryptocurrencies and methods of replenishing the balance, where the commissions are not overstated. We hope you find this site to be helpful!