Best Cryptocurrency Exchange – When we talk about the best cryptocurrency exchange, this largely depends on your personal goals as an investor. This is so because there are many cryptocurrency exchanges out there that can be the best fit for you depending on what you want to use it for. Each of these exchanges comes with its advantages and of course disadvantages as it is to be expected.
However, to keep you guided if you are ready to join the growing cryptocurrency market, we are going to review some of the best cryptocurrency exchanges out there in the market. This will help you make a well-informed choice. The cryptocurrency exchanges listed here are believed to be trustworthy, secure, easy to use, and have been around for quite some time with a proven level of quality.
So here they are:
Coinbase is undoubtedly the most widely known and used cryptocurrency exchange in existence in the United States. Founded in 2012, Coinbase is a fully regulated and licensed cryptocurrency exchange. Currently, this crypto exchange has licenses to operate in over 40 U.S. states and territories.
Coinbase is not linked to any known controversy and offers an extremely easy-to-use exchange. This greatly lowers the barrier to entry for cryptocurrency investment, which is typically seen as confusing and convoluted.
Coinbase offers insured custodial wallets for investors and traders with which they can store their investments. These wallets carry insurance data breaches and hacking and your cash is stored in FDIC insured bank accounts. New users will find these custodial accounts very convenient, even though the private keys to the coins within them are owned by Coinbase and not the investor.
Additionally, Coinbase offers the free Coinbase Pro version which has a different, but cheaper, fee structure and has significantly more options when it comes to charts and indicators. After you have found your feet learning from Coinbase, you should opt for Coinbase Pro as the next step.
Why we love Coinbase:
- Simple user interface
- High liquidity
- Offers a variety of altcoin choices
What’s not so good about Coinbase?:
- Charges high fees if you are not using Coinbase Pro.
- User does not have control over wallet keys
Right next up on our review list of the best cryptocurrency exchanges is Binance cryptocurrency exchange. Based in Malta, with branches in different parts of the world, Binance is the perfect option for beginners and experts alike. This platform has about 200 coins ranging from the popular ones like Bitcoin to its own native coin known as Binance Coin.
Binance also offers a range of services like margin trading, futures trading, etc. Their fee stands at 0.1 percent on most of its transactions. However, they also have a credit card brokerage service for more convenient purchases and the sale of cryptocurrencies (at higher fees).
With the Binance security system known as Secure Asset Fund for Users (SAFU) users are safeguarded from theft of funds.
Why we love Binance:
- Has about 200 cryptocurrencies to trade with.
- 0.1 percent flat trading fees
- Secure Asset Fund for Users (SAFU)
- Native Binance Coin (BNB)
What’s not so good about Binance?:
- Not-so-fast customer service response
- Issues with ID verification
- US residents are to use Binance.us which only has 80 cryptocurrencies available.
eToro is one of the best cryptocurrency exchanges out there. It is one of the best platforms for beginners and is a top choice for trading cryptocurrencies like Bitcoin, Ethereum, and Litecoin. This platform stands as one of the biggest crypto exchanges in the world with over 18 million users globally and over 20 million crypto transactions executed on the eToro platform. This platform is supported by over 140 different countries and stands as one of the most secure crypto trading platforms in existence.
Even though eToro does not offer as many different assets to trade as some of its competitors, do, this platform offers the 14 most popular cryptocurrencies. They include – Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Cardano (ADA), Neo (NEO), Dash, Bitcoin Cash (BCH), Stellar Lumens (XLM), EOS, IOTA, TRON, ZCash, and Tezos.
eToro also offers a web-based trading platform and a mobile app with an easy-to-use platform for beginners.
Why we love eToro:
- Offers a demo account
- Gives users access to social trading
- Copy trading
- Copy portfolios
- Offers a trading app
- Supports up to 94 cryptocurrency pairs
- Can be used for both crypto and forex
- Has been around since 2007
What’s not so good about eToro?:
- Not a crypto specific site
- Supports only 14 crypto coins
Bisq is a decentralized crypto platform whose servers spread all over the world. This makes it almost resistant to attacks. Bisq stands as one of the best platforms for the purchase of different types of cryptocurrency in terms of security.
Additionally, Bisq platform’s source code is discussed openly on GitHub and Slack which makes their services very transparent. However you have to understand that you can be charged 0.001 BTC and some extra mining fees for transactions irrespective of whether you are selling or buying.
Why we love Bisq:
- Has a mobile app for both Android and iOS
- It is a decentralized, non-KYC platform
- Offers more than 25 different payment options, including Zelle.
- Open-source code
- No ID required
What’s not so good about Bisq?:
- Trading volumes can be low
- The platform is not designed for active trading
- Transaction speed tends to be slow, depending on payment method.
- Does not allow for the use of credit cards for deposits.