Bitcoin became a new gold rush, and in all major cryptobirds last year there was an influx of new users and traders. Some exchanges went through agonizing phases of growth, trying to cope with a sudden increase in the user base, while others, starting as regional platforms, turned into international ones.
Which is the best cryptocurrency exchanges?
We have compiled a list of all major exchanges that offer cryptocurrency trading, and analyzed them for supported countries, payment methods, commissions and trading limits, not to mention customer support.
What you need to know before entering the stock exchange
There are some basic realities that everyone who wants to join the community of cryptocurrency traders should know:
Lack of regulation
Today, digital currencies are not recognized as financial assets in most countries of the world, as they are not issued by the national government. This means that the legal guarantees that you expect from other trading companies are often absent on the crypto market.
Volatility
Cryptocurrencies are extremely volatile, they are very much more expensive, then cheaper. Some exchanges offer trading with leverage, but in such volatile markets it is unwise. You can easily get a huge profit, but you can just as easily lose everything.
It is quite difficult
Digital currencies are not like other currencies that can be transferred from one bank account to another. Hackers easily steal them from exchanges. Anyone entering this market should fully understand how cryptocurrencies work and how to safely store them.
Coinbase
Coinbase, founded in 2011 by Brian Armstrong and Fred Ehrsam, is located in the United States and is headquartered in San Francisco, California.
The stock exchange attracted major investors and compared to other cryptocurrency platforms most closely approached the full-fledged currency exchange.
Since Coinbase is located in the United States, for residents of the United States fiatnnye currency insured by the Federal Deposit Insurance Corporation (FDIC), but not balances in cryptocurrencies, so after completing transactions it is better to store them in a private wallet outside the stock exchange.
This exchange can be used for buying and selling digital currencies by residents of the United States, Canada, Singapore, Australia, the United Kingdom and all European Union countries, with the exception of Estonia. Residents of the United States can make payments, deposit and withdraw funds using debit cards, automated clearing houses and non-cash transfers.
How long the transaction will take depends on the chosen method: through automated clearing houses it takes 4-5 business days, through wire transfers - 1-3 days, and purchases through credit cards are instant.
European customers can use transfers from bank accounts that support SEPA (Single European Payments Area) or debit cards that support the 3D Secure protocol. SEPA transactions typically complete in 2-3 business days. Purchases through debit cards occur, as a rule, instantly.
Coinbase charges a fee by means of a buy / sell price difference in the range from 0 to 200 base points, depending on the size of your operation.
They also charge a percentage fee for transactions using debit cards (3.99% for American cards), bank accounts (1.49% for automated clearing houses) and a commission to miners when transferring cryptocurrencies to private wallets (usually 1%).
Coinbase now uses a complex system that limits the amount of trading based on the method of transferring funds, the number of successfully completed transactions and the selected currency.
Pros:
The largest cryptobirge in terms of trading, offers good liquidity.
Credit card purchases are instant.
Lower commissions than other cryptocurrency exchanges.
Cons:
A smaller choice of ways to transfer funds than other exchanges.
It may be tracking user transactions for regulation.
It offers trading only in Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Coinmama
Do you just want to buy Bitcoin or ethereum?
Founded in 2013, Coinmama is located in Ra'anana, Israel, but is owned by NBV International from Slovakia. The platform is in fact not a trading exchange, because it does not support the sale of Bitcoin or ethereum. Rather, it is a marketplace where you can buy BTC or ETH with credit cards.
At Coinmama, any person in the world who has a credit or debit card can make transactions, but you should check with your bank for currency conversion fees and international transactions. At Coinmama, all transactions are converted into dollars or euros.
The exchange currently accepts only credit or debit cards. It adds the 5.5% difference to the exchange rates of digital currencies, as well as the 5% processing fee for each transaction.
Pros:
Since it works with credit cards, most of the world is supported.
Allows you to buy Bitcoin and Ethereum using cards in dollars and euros.
Cons:
Credit card transactions have a high transaction fee.
Only sells bitcoin and ethereum, is not engaged in any other trading.
GDAX
Does Coinbase seem too unprofessional to you?
GDAX is a Coinbase-owned cryptocurrency exchange designed for professional traders of all levels. Coinbase launched GDAX in 2016 as an exchange for professional traders while retaining the more conventional Coinbase trading platform.
Thanks to the connection with Coinbase, traders with Coinbase accounts can transfer Fiat or cryptocurrency between GDAX and Coinbase without additional fees.
GDAX supports EU countries, Canada, Australia, Singapore and 49 from US 52 states. GDAX works with dollars and euros.
The exchange accepts transfers through automated clearing houses in the USA or SEPA transactions in European countries. For trading partners with a large amount of non-cash transfers can be made in a day.
GDAX charges the 0.25% commission to the buyer, the person who opened the order does not pay anything. Traders with a large volume receive discounts.
Withdrawals are limited to $ 10 per day for individuals and $ 000 per day for businesses.
Pros:
The same great service and regulatory support as on Coinbase.
You can link Coinbase and GDAX accounts and transfer funds between them.
You can finance accounts in fiat currency.
Cons:
For traders with a small volume, the commission is higher than on some other exchanges.
Currently, only Bitcoin, Bitcoin Cash, Ethereum and Litecoin are supported.
BitMEX
What about Chinese cryptobirds accepting dollars?
BitMEX is based in Hong Kong and is run by a man who used to work for two major banks, Deutsche Bank and Citi.
BitMEX takes an example from traditional currency markets, offering leverage for a range of digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Monero and many others.
Although the exchange is located in China, it focuses on international markets and allows trading in four fiat currencies.
Currently, BitMEX does not support depositing funds from the United States. The initial financing of bills consists of making bitcoins. Fiat currency withdrawal is supported, but not input.
BitMEX charges a commission for purchases in the amount of 0.075% to 0.25% and a commission for sales in the amount of 0.025% to 0.05% depending on the selected currency.
Unlike many cryptobirds, BitMEX does not charge a fee for withdrawals, with the exception of the usual commission for cryptocurrency transfers.
Pros:
Supports most countries of the world.
It allows you to trade in fiat currencies: dollar, euro, yen and yuan.
Reasonable fees.
Cons:
Does not support the United States.
Does not support depositing funds in fiat currency.
Binance
This is a newbie led by an experienced man from OKCoin.
Binance is a Chinese crypto exchange founded in 2017 by Changpeng Zhao, former CTO of OKCoin. Like other new cryptocurrency exchanges, Binance avoids the complexity of the traditional financial industry by not accepting fiat currencies.
Instead, the exchange uses the Tether, pegged to the dollar, as an intermediary. Therefore, it is necessary to convert fiat currency to digital somewhere else before trading on Binance.
Binance is located in China, so there may be restrictions imposed by the Chinese government on access from some countries of the world. But since it does not bind to fiat currency, anyone who can deposit cryptocurrencies can trade on the exchange.
You can enter funds using a number of cryptocurrencies, but Binance does not accept fiat currency.
The commission on the exchange is equal to 0.1%, and discounts are available to those who have a BNB (cryptocurrency serving as stock exchange shares). There are also different withdrawal fees for each type of digital currency, but depositing funds is free.
Pros:
Low commissions and free deposit of funds.
The exchange is led by experienced cryptocurrency professionals.
Cons:
It is located in China, so it may be difficult to access it from some countries.
Too new to know how reliable and safe it is.
Does not support fiat currency.
Bittrex
Bittrex seems to be experiencing some serious growth difficulties. The exchange continues to work with its current clientele, it will accept new corporate accounts on an individual basis, but registration is no longer available for the general public.
However, in case she opened her doors again, we added her to our guide.
Bittrex uses the Jumio service to identify clients, therefore it supports only those countries in which Jumio operates. But it seems that Jumio does not want to publish a list of officially supported countries. However, given that Bittrex no longer registers new accounts, it does not matter anymore.
Bittrex is a pure cryptocurrency exchange that does not allow trading between fiat and cryptocurrency balances. However, it allows large traders to purchase the dollar-pegged digital currency Tether through wire transfers, although the minimum amount is $100.
The exchange charges an 0.25% fixed fee for each transaction. There is no commission for depositing funds, but Bittrex gives users the right to decide for themselves which commission to set in a cryptocurrency network.
The only trading limit is the minimum trade size of 0.001 BTC. There are also minimum volumes, which vary depending on the cryptocurrency used. In addition, orders that are more than 28 days old are deleted.
Pros:
Serves large trading accounts and corporate clients.
Located in the United States.
Reasonable fees.
Cons:
No longer accepts new customers from the general public.
Many existing customers complain about poor service.
CeX
Looking for a rival Coinbase from London?
CeX was founded in London in 2013 year as a pool for miners of Bitcoin and eventually turned into a trading exchange. It is not regulated as a financial company, but is subject to the rules related to payments in fiat currency.
The exchange has established itself well in terms of security, and customer service is better than most other exchanges.
CeX works with residents of most countries of the world through credit card transactions, but there are 16 countries (Iceland, Vietnam, Afghanistan and others) in which financing through credit cards is prohibited.
The exchange accepts fiat payments in dollars, euros, rubles and pounds. VISA and MasterCard are accepted, as well as bank transfers via automated clearing houses and SEPA.
CeX charges a transaction fee of 0% to 0.25%, depending on whether you are selling or buying, and the volume of your trades in the last 30 days.
The exchange also charges 0.2% for opening a trade with leverage, as well as 0.01% a loan extension fee. The fee for depositing and withdrawing funds varies depending on the method of transfer; when making a transaction through credit cards, a fee is charged for both withdrawal and depositing funds. With other bank transfers, funds are entered without a fee.
Pros:
British exchange supporting most countries.
It offers trading in nine cryptocurrencies, including Bitcoin, Ethereum and Ripple.
Supports fiatnye currency: dollar, euro, ruble and pound sterling.
Cons:
Limited selection of digital currencies compared to other exchanges.
In financial transactions with fiat currency there can be big commissions and delays.
Kucoin
Are you looking for an Asian market where you can trade any cryptocurrency?
Hong Kong Kucoin is one of the newest exchanges, it opened in August 2017.
She wants to become the best cryptocurrency exchange, not engaged in fiatnymi currencies. As in other similar exchanges, the dollar-linked digital currency Tether is used as an intermediary. Almost all existing cryptocurrencies are available for trading on Kucoin.
Since Kucoin does not need to interact with the banking world, it is theoretically available to the whole world. The site is intended mainly for the Chinese market, but there is a version in English.
Kucoin does not accept depositing funds in fiat currency, therefore, for trading on this platform, you must use your cryptocurrency reserves or convert your local currency into digital currency, for example, in Tether.
Depositing funds is free, but the fee is charged for withdrawals and varies depending on what asset you transfer from your account. The commission is fixed, but it depends on the size of the withdrawn amount.
There is also a fixed commission in 0.1% for each transaction.
Pros:
It offers trading of virtually any cryptocurrency currently existing.
Has a good reputation in customer support.
A good alternative to Chinese exchanges for Asian traders.
Cons:
The new exchange, which has not been subjected to load tests of large volume.
Available only in Chinese and English.
Poloniex
Looking for an alternative exchange in the United States?
Founded in 2014, Poloniex is located in Delaware. On this platform, you can trade only cryptocurrencies, Fiat transactions are prohibited.
Nevertheless, it offers one of the most complete sets of alternative cryptocurrency pairs on the market, so if you are looking for a place in the US to trade lesser-known altcoins, then you should look at Poloniex.
Since the exchange does not process fiat currency transactions, the only requirement to trade on it is an internet connection, some amount of cryptocurrencies, and a valid ID. There are no geographic restrictions.
Poloniex does not support fiat currencies, so you need to purchase digital currencies somewhere to trade on it. It supports USDT, the dollar-pegged cryptocurrency Tether, but the fiat currency will have to be converted somewhere else.
Like many other exchanges, Poloniex has a vague commission based on your 30-day trading volume and on whether you are selling or buying.
Commission per transaction ranges from 0% to 0.25%.
Pros:
Offers cryptocurrency trading for the whole world.
Located in the USA.
In addition to Bitcoin, it offers a whole range of cryptocurrencies.
Cons:
Does not support fiat currency.
Bad reputation with customer service.
Creak
Looking for a cryptocurrency exchange that was on the market right from the start?
Krakenbroken Kraken, located in San Francisco, California, was founded by 2011, as a European Bitcoin exchange. In recent years, it has rapidly expanded both in terms of offering altcoins and accepted fiat currencies.
Kraken, like many well-known exchanges, experienced growth difficulties in 2017, but it recovered with enhanced service and ongoing support in the community.
Kraken does not prohibit the use of its services to residents of any country. If you can create a bank account in dollars, euros, Canadian dollars or yen, you can trade with Kraken.
Deposit and withdrawal of funds can be done through SEPA transactions, automated clearing houses, electronic payments and international money transfers. The commission for depositing and withdrawing funds depends only on the chosen method and fiat currency. Depositing funds using SEPA from Europe is free, as are non-cash transfers from Canada.
The trading commission is based on the currency pair, the amount of your account and on whether you are selling or buying. It ranges from 0% to 0.36%.
Pros:
Founded in 2011 year and located in the USA.
Supports major fiat currencies and many alternative cryptocurrencies.
Reasonable fees.
Cons:
Last year there were serious problems with customer service.
Mobile app support was not the best.
Bitstamp
Looking for a stock exchange from Europe for Bitcoin trading?
Bitstamp is located in the UK, but also has offices in the United States and Luxembourg. The exchange allows you to trade Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash using dollars or euros, or you can trade other cryptocurrencies against Bitcoin.
Bitstamp supports credit card transfers in the EU and more than 50 countries outside Europe, including the United States.
You can transfer funds to your Bitstamp account using debit and credit cards, SEPA transfers, and international bank transfers. Supported currencies are USD and EUR.
The exchange charges a fee of 0.1% to 0.25% for each order, based on the 30-day trading volume of your account in dollars.
There are also various fees for depositing, withdrawing funds and other financial transactions depending on the chosen transfer method.
Pros:
Good support for European users.
It supports credit card transactions from the United States and many other non-EU countries.
For regulatory security located in the UK.
Cons:
Limited choice of cryptocurrency.
Only fiat currency supports dollar and euro.
Exmo
Looking for a cryptobirth oriented to the Russian-speaking market?
Exmo was created by Russian Pavel Lerner, but works from the UK, where he can avoid regulation and censorship.
In addition to Bitcoin and Ethereum, the Exchange offers many alternative cryptocurrencies for trading: Litecoin, Doge, Dash, Tether, Monero and many others. The biggest complaint among users is that trade servers are often inaccessible due to maintenance work.
Exmo provides services for all countries of the world, so if you can transfer one of the supported currencies to their accounts in the UK, you can trade with Exmo.
The fiat currency exchange accepts funds in dollars, euros, rubles and hryvnia.
Exmo charges a fixed 0.2% commission on all transactions. In addition, there are various commissions linked to each of the supported currencies.
For example, 6% is charged a fee for depositing funds through debit and credit cards, as well as 3% plus $ 7.50 for withdrawing funds through Visa or Mastercard. The user should carefully study the rates before investing their money or engage in trading.
Exmo also has trade restrictions that vary for each trading pair.
For example, for Bitcoin and USD, the minimum for each trade is 0.001 BTC and the maximum is 100 BTC.
Pros:
The exchange is located in the UK.
There are many options for transferring funds for each supported fiat currency.
It offers trading of many lesser-known digital currencies.
Cons:
Only fiat currency supports dollar, euro, ruble and hryvnia.
In the past, had problems with the reliability of service.
OKEx
Looking for a stock exchange for professional trading in China?
If not, you can pass by. OKEx is owned by OKCoin, a Chinese cryptocurrency trading company. As in the case of GDAX and Coinbase, OKEx is designed for professional traders, and OKCoin is oriented towards ordinary Chinese.
Currently, OKEx does not support residents from the United States, Hong Kong, Cuba, Iran, North Korea, Syria, Bangladesh, Bolivia, Ecuador and Kyrgyzstan.
The exchange accepts deposits and withdrawals in several cryptocurrencies: Bitcoin, Ethereum, Litecoin and Ripple. Fiat currencies can be used to buy and sell these assets, including doing this through Chinese bank accounts.
For spot trading, OKEx charges a fee of 0.02% to 0.2% per transaction, depending on the volume of 30 days and whether you are selling or buying.
The commission for trading with leverage varies from a discount in 0.01% to a commission in 0.05%.
Pros:
One of the largest cryptobirds in the world in terms of volume.
Reasonable commissions if you have the opportunity to work in the Chinese market.
Cons:
Closed to residents of the United States and many other countries.
In China, the regulation of cryptocurrency is becoming more stringent.
Huobi
Want to trade on the Asian cryptocurrency exchange?
Huobi was a successful exchange serving the Chinese market until China banned crypto-trading. The stock exchange was out of work and is still being reoriented to other Asian countries.
Currently, most of their clients are located in Southeast Asia, there are offices in China, Hong Kong, South Korea, Singapore and Japan.
If you are able to transfer to the exchange a sufficient amount of Tether tied to the dollar, you can open an account and trade on Huobi. Now the stock exchange is focused on Asian countries.
Trading on this crypto exchange is carried out in USDT, a Tether cryptocurrency pegged to the dollar. Therefore, anyone with the minimum amount of USDT can transfer funds and start trading on Huobi without the hassle of traditional financial accounts. To get started, you may need to purchase USDT from another crypto exchange.
Some traders are worried about reports of long waiting times for withdrawals.
Huobi charges a fixed 0.2% commission on all transactions.
Pros:
All transactions are made in cryptocurrencies.
20 various digital currencies are supported.
Cons:
Ambiguous security.
Reported debt withdrawals.
Lack of support for English.
Xcoins
Looking for a way to borrow or borrow bitcoins?
Xcoins is a P2P platform that allows borrowers and lenders to exchange bitcoins. The exchange is located in Santa Monica, California.
In essence, Xcoins is a collateralized lending market where bitcoin holders can charge interest by lending their BTC and holding the cash deposit until the loan is repaid. Xcoins simply provides for the exchange of collateral and bitcoins between parties. The terms of the loan are negotiated by the borrower and the lender.
In theory, the exchange can be used by anyone who can make payments via Paypal in dollars, if bitcoin is legal in his country of residence. Xcoins claims to support over 40 countries and continues to add more.
Payments are made through Paypal, so if you use it as an intermediary, you can make payments through eChecks, automated clearing houses, credit and debit cards. Thanks to the mortgage lending model used by Xcoins, in the first transaction the waiting time is usually just a few hours, and subsequent loans are made instantly.
The commission on Xcoins consists of a fee for arranging a loan of at least 5% of the amount and a fee to Bitcoin miners in the 0.00025 BTC.
There is also a Paypal payment processing fee of 2.9%. In addition to these fixed payments, you will also have to pay a one-time payment to the lender, which varies depending on the terms of the loan.
Pros:
Fast transactions using Paypal.
With this exchange, Bitcoin owners can earn on loan interest.
Bitcoin loan secured by cash deposit.
Cons:
It works only with bitcoin and dollar.
We'll have to return the same amount of bitcoins, expressed in dollars, which you borrowed.
Coinigy
Do you want to manage accounts of several cryptocurrency exchanges from one place?
Coinigy wants to integrate all cryptobirds in one platform. Based in Milwaukee, WI, the platform avoids all the problems with processing financial accounts, allowing traders to link their existing cryptobirth accounts together in one web application.
If you need to manage more than two accounts, then this application is designed to improve performance, you should pay attention. You will not only see all your accounts in one place, but also engage in trading and perform other functions, because Coinigy uses open APIs provided by other exchanges.
How much does it cost?
Coinigy charges a monthly fee of $ 18.66 for using its service. This is in addition to the fees that you have to pay on your existing accounts on cryptobirds, but for traders who deal with large volumes, this can be worth it.
Using a similar service, you can avoid the headache during manual trading on several exchanges simultaneously.
Pros:
Makes trading on several exchanges easier.
US service for US residents deserves more confidence.
Excellent charting tools that can be used with any of your accounts.
Cons:
For small traders, a monthly subscription may be too expensive.
You still have to fight the bureaucracy on various exchanges where you have accounts.
What is the best crypto platform?
Today, in terms of trading volume, Coinbase and OKEx are the largest crypto-counters in the world, although they do not compete with each other directly.
Coinbase is the number two crypto exchange primarily serving the US market, while OKEx is the leader in the Chinese and Asian markets.
FAQ
How do cryptocurrency exchanges differ from traditional futures exchanges?
Although these companies call themselves exchanges and imitate traditional exchanges, in many respects they are not exchanges. They are not recognized by the financial institutions of many countries, as a result of which they are not subject to the same rules and laws that make traditional exchanges more reliable.
Why on some exchanges withdrawal / deposit of funds and completion of trading transactions takes so long
Financial transactions in the cryptocurrency market are often used as a cover for money laundering, and if you send fiat currencies across national borders, then the exchange must adhere to the regulations of both your country and yours. The result is a lot of identity verification for you and your trading partners.
EO.Trade yra geriausia, tvirčiausia ir greičiausia kriptovaliutų birža, kuri niekada nepakenks investuotojams, dirbantiems esamoje ir būsimoje kriptovaliutų rinkoje.