BEST BITCOIN EXCHANGES 2017
Bitcoin exchanges provide a platform to buy, sell and trade Bitcoins and other altcoins. As it is an investment platform hence, everybody wants their money to be invested in a transparent, reliable and secure platform. So one can spend with a piece of mind. This article lists all best Bitcoin exchanges which are legit, seamless, secure, time-tested and fulfill all the requirements of a primary user.
Finding best Bitcoin exchanges is not a piece of cake. There are some criteria which Bitcoin exchange has to fulfill to be on my list of best Bitcoin exchanges.
BEST BITCOIN EXCHANGES – WHAT TO SEEK
The first thing which strikes mind for the best Bitcoin exchanges is the security of the website. You always want the security of the site must be top of the line. The website should be trustworthy and reliable and give transparent details of the coins.
Almost every Bitcoin exchange offers two-factor-authentication. But there are sites which go further to protect user account by adding an extra layer of security like advanced encryption method, unhackable ledgers, etc.
Hence, privacy and security of the user do not compromise and is protected from the hacking.
NUMBER OF ALTCOINS
When you are looking for best Bitcoin exchanges, you also want that there should be a maximum number of cryptocurrency available for exchange and trade.
You want to watch out for currency pairs means with which currency you want to trade your Bitcoin ?. Whether it is Bitcoin to USD, Bitcoin to euro, Bitcoin to fiat currencies or vice-versa.
Best Bitcoin exchanges also provide choices according to your location means. They will usually give you options to buy or trade altcoins which are legalized by your government.
VOLUME OF TRADE
The third thing which you should consider for the best Bitcoin exchanges is the trading volume of the altcoins of the network.
It provides you an insight of that Bitcoin exchange that people are willing to spend their money on that trading platform. It justifies the reliability and sound business practices of that network.
The Higher trading volume also ensures the top client base of the network which provides more equitable trades for all customers. Because every client has more potential partners to deal.
Bitcoin exchanges with higher trading volume always stay close to the average market cost of Bitcoin. While smaller trading volume exchanges do misrepresent the market value of Bitcoin.
The fourth factor which plays its role in the verge of the best Bitcoin customers is network fees.
Usually, every Bitcoin exchange has its fee structure.
Fess express a percentage of the transaction amount and an average cap around 0.30%.
Bitcoin exchanges offer a volume based fee structure means if you buy or sell a lot of altcoins you have to pay smaller fees.
Some Bitcoin exchanges use a maker-taker fee model.
Makers are those who placed their orders to designed to move the price up or down pay no charges.
Takers are those who buy or sell coins at whatever price currently available and pays fees structured by the network.
This model ensures to stabilize the price and keep it as close to the market average as possible.
So accordingly I have listed the best Bitcoin exchanges worldwide.
1. COINBASE EXCHANGE- Coinbase is one of the world best Bitcoin exchanges. It is available worldwide in almost every country including India.
Coinbase exchange is a Bitcoin company based in SanFrancisco and backed by the prominent capitalist. It offers coin base wallet, exchange, and a well-documented and straightforward API.
They facilitate small fees. It allows trading of Bitcoin, Ethereum, and Litecoin on its network.
Coin base one of the best option for beginners because of its very user-friendly interface. Thus it is effortless to acquire Bitcoins from here. They are consistently adding new features for making user experience smooth and painless.
But when we consider it as a trading platform then they have limited coins to exchange or trade. They only have Bitcoin, Etherium, and recently they have added Litecoin.
. High liquidity and buying limits. Instant purchase of up to $ 1000 of Bitcoin per week for verified users.
. Very easy to navigate
. A wide variety of deposit and withdrawal options
. Offers API for developers
. Insured altcoins deposit
. Online and mobile wallet services
. Instant buy is available with credit card.
. Not available in every country, available in 191 countries
. Have limited coins to exchange, not a proper trading platform.
. May track how it’s users spend Bitcoin
. Account verification may take time.
NOTE – Coinbase is not available to buy or sell Bitcoins in India. Indians can store, transfer, receive, and exchange Bitcoin from Coinbase.
2. LOCAL BITCOINS EXCHANGE – Local Bitcoins exchange is one of the most renowned Bitcoin exchange and fall at second in my best Bitcoin exchanges list.
Local Bitcoins exchange is (p2p) person to person transactions all over the world if we simplify it means you can directly interact with the person you are selling or buying Bitcoins.
It is one of the larger peers to peer exchange in the world and so is one of the most trustworthy.
They make sure the trade goes through with no problem for both the parties.
There is no selling or buying limit set by Local Bitcoins.
There are many payment methods through which you can buy or sell Bitcoins including cash.
Local Bitcoins exchange is available in almost every country including India.
One of the major factor why Local Bitcoins is so popular because it does not require any id verification of the client to trade.
You can buy or sell Bitcoins without getting verified.
. Local Bitcoins exchange is one one of the most private ways to purchase Bitcoins.
. Highly respected and good reputation
. Low transaction fees
. No ID verification is needed.
. There are many payment methods available including cash deposit and Paypal.
. In person, cash trades are fast and is well organized by Local Bitcoins
. One of the oldest Bitcoin exchange in the world have tons of clients.
. Some clients require ID verification to trade larger amounts.
. In “in-person” cash deals, the speed of delivery is entirely dependent on the seller confirming payment.
. Not available in every country.
. There are many scams user. You need to be cautious.
3. COIN MAMA EXCHANGE Coin Mama is a veteran exchange and was opened in the year 2013. It is a company based in Israel and is rated as one of the world best Bitcoin exchanges.
You can buy up to 10000$ Bitcoins using a credit card or debit card (thanks to simplex) per day and 20000$ of Bitcoins in a month. This buying limit is one of the highest in the Bitcoin exchange industry.
Other than credit & debit card cash is also an accepted payment method.
Among all best Bitcoin exchanges, Coin mama exchange support the most countries worldwide using a credit card. You can also buy Ethereum with the credit card.
You can buy worth 150$ of Bitcoin without getting verified.
For buying more than 150$ of Bitcoin, you have to get verified by uploading your documents along with your bank account statement as an address proof.
Coin mama exchange allowed the transaction with a credit card well before any Bitcoin exchange company did.
The only downfall of the company is that it has high fees. But its reputation covers all its shortcomings.
.Very user-friendly interface.
.Offer one of the highest Bitcoins buying limit per day (10000$) for verified members.
.Offers credit card as well as cash as payment method
.Very fast transaction.
.One of the best customer support.
.For buying Bitcoins more than 150$ user have to get verified.
Note – I strongly recommend Coinmama exchange if you wish to buy Bitcoins.
4. CEX.IO – Cex.io exchange is one of the oldest and one of the best Bitcoin exchanges. It was established in the year 2013. It is a company based in London and once was cloud mining provider, but this service was closed in the year 2015. Now, it works only as a Bitcoin exchange.
The thing I like about CEX.IO that it is very transparent they will let you know how much you will pay even before signup. It let you trade in Bitcoin and other decentralized currencies.
The currency they accept is Euros, Pound, US dollar, Russian rubles and other altcoins.
If you have an unverified account, you can only buy Bitcoins worth 500$.
If you have verified account, you can buy 100000$ worth of bitcoins per day.
There is also a ‘verified plus and Corporate account’ you can buy an unlimited amount of Bitcoins per day.
It has a straightforward and user-friendly interface.
CEX.IO is available in most countries worldwide including India.
They accept payments via credit card, bank wire transfer.
One of the interesting thing about CEX.IO which makes it unique. If you bought 2 Bitcoins at a particular price. You can sell those Bitcoins at the same price you bought.
Which is different from other exchanges where you have to wait until other users offer you your desired price. This method is known as fill-or-kill orders (FOK).
CEX.IO exchange runs 24 hours so you can trade at any time a day.
. Very user-friendly interface, ideal for beginners.
. Can trade in Bitcoin as well as other decentralized currencies
. Offers excellent customer support
. Swift transaction
. Large base of joined members, massive monthly volume that let you trade at any time a day
. Can buy unlimited amount of bitcoins with verified plus and corporate account
. Extensive verification required purchase a lot of Bitcoins.
. Recently Litecoin was removed(unlisted).
5. BITMEX EXCHANGE – Bitmex is the leading Bitcoin margin trading site and one of the best Bitcoin exchanges.
Bitmex is based in the Republic of Seychelles.
It offers one of the most advanced trading platforms.
Bitmex CEO Arthur Hayes has used his experience as an equity derivatives trader for Deutsche Bank to design, build, and maintain exactly the type of platform that users are looking.
Users can trade cryptocurrencies with very high 100x leverage.
Pairs include BTC/USD, Yen, Monero, Ripple, Dash, Ethereum, and other altcoins.
BitMEX is the first exchange to launch a perpetual, leveraged swap contract. It means that you do not need to worry about rolling your position at a fixed point in the future since there is no expiry. It is analogous to having a position in the underlying spot market, but with the leverage that only BitMEX provide.
It runs a first-of-its-kind multi-signature deposit and withdrawal scheme. All BitMEX addresses are multi-signature, and can only be accessed by a majority of BitMEX partners.
Even in the event of a full system compromise, including web servers, trading engine, and database, there would not be enough keys available to an attacker to steal funds.
Granted that this platform is for experienced and seasoned traders. Beginners should gain sufficient trading experience before trading here. Overall it is one of the best Bitcoin exchanges and most advanced trading platform.
. Robust security
. One of the most advanced trading platform for margin trading
. Great affiliate program
. Very high leverage up to 100 times
. Fees are low in comparison to other Bitcoin exchange
. Not beginner friendly, Beginner should gain trading experience before trading.
Changelly is newly born Bitcoin exchange launched in 2016. Changelly was established by the exact men who own MinerGate – a mining pool that will allow you to sign up for other miners across the globe. Changelly is based in Prague(Checkslovakia). The exchange is clean and easy to use, have an intuitive interface, best exchange rates, very low fees. Fees are mere 0.5% of transaction amount. So it checks all boxes required to consider my list of best bitcoin exchange.
It allows you to exchange one cryptocurrency for another in the most convenient way possible. It does this by aggregating and suggesting the best rates directly on its website. Changelly offers you best exchange rate in comparison to other instant cryptocurrency exchange.
Changelly accepts payments in nearly any cryptocurrency and you can receive a payout in any other cryptocurrency. It let you buy Bitcoin and other altcoins using a credit/debit card but I won’t recommend you to buy Bitcoin directly from changelly as card rates are slightly higher than other Bitcoin exchanges.
Changelly is a relatively new company in the cryptocurrency industry. But It has reached the milestone of 1 million customers in short span of time. This shows the popularity and reputation of this cryptocurrency exchange.
Changelly supports almost every country in the world. It has very high limits and solid liquidity. You can make a trade of any size, and a transaction is processed within 5 to 30 minutes.
- The largest offering of cryptocurrencies in cryptocurrency exchange industry.
- Interface is clean and simple
- Lowest commission fee for crypto-to-crypto conversion.
- Can buy any cryptocurrency using credit & debit card
- High exchange rates than other exchanges when purchasing cryptocurrency using a credit & debit card
- Though it does not require any form of identification, one does need to submit an email address to complete the exchange transaction.
Shapeshift was the first crypto to crypto cryptocurrency exchange launched in the year 2013 by Erik Voorhees CEO of the company from Switzerland. Shapeshift does not allow you to buy cryptocurrencies with fiat currencies e.g. US Dollars, Euro, British Pound, etc. It follows no fiat policy. It only allows swapping of one cryptocurrency to other cryptocurrencies instantly.
The user doesn’t need to create an account, deposit fund, or provide any private personal information. Shapeshift does not even require any e-mails, passwords, or any bid either. This reduces the identity and financial theft risk.
It uses a very simple and smooth process to convert a cryptocurrency to another. It has to be said, this Bitcoin exchange has made quite a name for itself over the past few years. ShapeShift check all the right boxes required to include on my list of 10 best Bitcoin exchanges worldwide.
Although, Shapeshift transaction limits are comparatively lower and fees are bit higher than Changelly.
- It facilitates the fastest and instant conversion of cryptocurrencies.
- It protects customers’ information and prevents possible identity thefts.
- Support almost every altcoin
- Most trusted instant cryptocurrency exchange
- It does not allow to buy coins using fiat currency
- Transaction fees are comparatively higher
Convert cryptocurrencies using shapeshift click here
Read more: 7 Bitcoin alternatives to invest in 2018
8. KRAKEN EXCHANGE – Kraken exchange is also a reputed exchange in Bitcoin industry. It was established in 2011 and based in San Francisco U.S.A.
It includes multiple currencies to exchange(trade) like Dogecoin, Litecoin, Ripple, Etherium, U.S dollars, Euro, the Korean Won, and of course the Bitcoin.
Kraken is available in many countries worldwide Europe, US, Japan including India.
Kraken is also the first bitcoin exchange listed in Bloomberg terminals, which speak for itself about the reputation of the company.
It offers excellent liquidity as its average daily volume is above 15 million US Dollars. Thus if you want to trade in a lot of bitcoins, Kraken is another excellent platform.
Fees to buy bitcoins vary by volume and type of pairs traded. BTC/LTC fee is 0.20% of the transaction at the start, BTC/USD exchange fee is 0.30% initially, and BTC/XRP(ripple) exchange fee is 0.10% from the outset. The Higher volume decreases the fees for all pairs until it hit its bottom at 0.05% of the trade volume.
Payment methods accepted by Kraken is credit card, bank wire transaction or SEPA in Europe.
Regarding security of the exchange, it is also fitted in one of the world-class safety systems.
So Kraken clicked all right boxes of a Best Bitcoin exchanges.
.Very good reputation one of the popular.
.Offers high trade volume and liquidity.
.One of the veteran exchange and still able to keep its own in such a competitive market.
.Very user-friendly trading interface for p.c. as well as for mobile.
.Margin trading is available.
.Not available in all countries.
.Not able to deposit FIAT currency.
9. POLONEIX EXCHANGE –Poloneix exchange is one of the best Bitcoin exchanges and also largest cryptocurrency exchange. Poloneix is based in the United States and was established in 2014. It offers a secure trading platform and offers a wide variety of digital assets.
It is an actual trading platform where there are multi coins to trade. You can not buy Bitcoin from poloneix because it is purely a coin trading website. You can deposit bitcoins after buying bitcoins from any of the exchange mentioned above and then can buy any altcoin using Bitcoin.
Poloneix exchange also has an inbuilt wallet to store all the cryptocurrencies. Apart from buying or selling you can quickly check the graph of any altcoin and trade your bitcoin for maximum benefits.
Poloneix has highest (no.1) trading volume in all Bitcoin exchanges. Poloneix traffic has grown from 7 million monthly visits in February 2017 to 35 million monthly visits in end of June 2017. It has very user-friendly interface both for mobile and desktop users.
If one count on the daily trading volume than Poloneix is the best Bitcoin exchanges for trading.
Highest daily trading volume in Bitcoin market.
A large number of altcoins to trade.
Provide separate wallet for each coin.
Can not buy altcoins directly in exchange.
Security is little susceptible.
10. BITTREX –Bittrex exchange is based in the USA since 2014. It is one of the larger cryptos to crypto exchanges offering a large number of trading pairs. They rated to be the next generation in cryptocurrency trading.
Bill Shihara is the co-founder and CEO of Bittrex. He had worked with Microsoft as well as a security engineer for Amazon and Blackberry.
Bittrex is similar to Poloneix and provides a real trading platform where you can buy altcoins with bitcoins and vice- versa. Like Poloneix you can not buy or sell bitcoins here, but you can buy all other coins using bitcoins and sell altcoins to bitcoins.
You have to directly deposit bitcoins in Bittrex exchange after buying from some other Bitcoin exchange.
Bittrex has a very user-friendly trading platform, and features are automated.
Bittrex has enormous trading volume second to Poloneix. Which shows the popularity of the exchange. You can deposit any crypto coin and also can also withdraw it in your wallet.
Transactions are instant. Withdrawal fees are minimal fees only charged by blockchain, not by Bittrex exchange.
You can deposit Bitcoins along with all other altcoins in their respected wallet. Here you can buy other altcoins by Bitcoins and can also convert them into Bitcoins by selling them.
Overall, Bittrex is one of the best Bitcoin exchanges in the world. But it is only made for exchange not to buy or sell cryptocurrencies.
.Large trading volume second largest in the world after Poloneix.
.A real trading platform can trade in bitcoins along with all other altcoins.
.Security is top-notch.
.Very user very friendly trading platform
.Can trade 24 hours, any time a day.
.Can store all coins in their respected wallet provided by the exchange.
.Deposit and withdrawal are instant.
Security is top notch.
.No major cons, just verification process took some time to complete.
.Support responds in about 48 to 72 hours.