2018 wasgoed a giant year for cryptocurrencies. The explosion of growth ter the market also meant an explosion of questions like &ldquo,where can I buy Bitcoin?&rdquo, and &ldquo,where can I trade cryptocurrencies?&rdquo, Wij&rsquo,re going to response those questions here so you know the best places to buy and sell cryptocurrency te 2018.
What Is A Cryptocurrency Exchange?
If you&rsquo,re familiar with the idea of stock exchanges, you&rsquo,ll have no trouble taking hold of cryptocurrency exchanges. They simply provide a marketplace for buying/selling/trading cryptocurrencies. The purpose of any exchange should be to provide and fair and orderly chance for anyone to invest ter the market. Exchanges make their money by charging petite fees on the transactions that take place on their platforms. There are tons of cryptocurrency exchanges out there, and there&rsquo,s a chance wij see others emerge spil the crypto craze proceeds to grow. So how do wij find the one that wij want out of all thesis options?
What Makes A Good Exchange?
There are many factors that go into a good exchange, the evident being reputation and security. You may be restricted from certain exchanges due to your region. Spil with any software verhoging, a good UI can make all the difference. Other factors to consider are the available order types, altcoins, maker/taker transaction fees, and payment options. Margin trading is also a very desired feature among traders.
Each of us have different priorities and will value each of thesis things differently. For example investors would very likely be more likely choose one exchange with a high reputation and ease of access, while most traders will use a combination of exchanges to gives themselves access to all the features they need.
Let&rsquo,s run through a handful of the top exchanges, identifying the pros and cons of each so that you can choose the best one for you.
One of the most reputable and well-known platforms, Coinbase supports 32 countries strakheid from North America, through much of Europe, the UK, and Australia. Asian investors will have to look elsewhere, spil only Singapore is supported. Coinbase is very beginner friendly and often the choice for traditional investors looking to just get their arms on some Bitcoin. Available coins are presently limited to a few of the largest players: Bitcoin, Bitcoin Metselspecie, Ethereum and Litecoin. Payments can be made after authorizing a handelsbank account, or by credit card (with a higher transaction toverfee). This is a bit different from traditional exchanges, where you vereiste deposit fiat money te your exchange account before placing a buy order.
GDAX, an extension of Coinbase, functions spil a traditional exchange suggesting a real-time marketplace for trading the same four coins spil mentioned above. However, being more of the tradional exchange that it is, traders may interchange their Bitcoin for other coins. For example, you have the option to trade your Bitcoin for Ethereum and vice versa. There is presently no fees for moving funds from Coinbase to GDAX spil they are playmate platforms.
Both Coinbase and GDAX use a plain and clean user interface that should be intuitive to figure out.
Good for: Beginners who need a elementary toneel for buying and selling. Not good for: Day traders who are looking for serious technical analysis instruments and a large selection of coin pairs to trade inbetween.
https://poloniex.com Fiat support: No Altcoin support: Good Order types: Limit, zekering limit AND margin trading Transaction fees: Moderate
Yet another of the most popular exchanges worldwide, Poloniex is a solid and reputable choice for traders looking for a ge selection of altcoins. A major advantage of Poloniex is the capability to trade on margin, providing seasoned traders the option to brief coins. Albeit there are only a handful of coins available for margin trading, this is a very welcome feature that seems to be pretty zonderling to find te the current state of crypto exchanges. Like many of the others, the Poloniex UI does not opoffering much ter the area of advanced technical analysis contraptions, but overall is a good interface that provides tons of useful information without seeming too cluttered.
Superb for: Traders who are looking to margin trade. Not fine for: Traders who are looking for access to the largest number of altcoins.
https://www.losbreken.com Fiat support: Yes Altcoin support: Moderate Order types: Market, limit AND margin trading Transaction fees: Moderate
Kritiseren is a San Francisco-based exchange that sees the highest volume among European traders. It boasts some perhaps one of the most finish set of perks with fiat support, a few altcoins, and margin trading. Fiat currencies EUR, USD, JPY and CAD can be utilized after a canap wire deposit. The only kwestie is the Openleggen UI. It&rsquo,s largely unintuitive and often difficult to navigate.
Fine for: Traders looking for complete-set of features. Not fine for: Traders looking for ordinary user interface or large altcoin selection.
Bittrex is another US based exchange, with usage all across the world. This exchange puts a lotsbestemming of concentrate on supporting spil many altcoins spil possible, including very fresh and emerging ones. Presently, they support overheen 190 coins. A common complaint with Bittrex is high transaction fees (presently at 0.25% on all trades). The UI is pretty good and gives a fairly high number of technical analysis contraptions for those who are interested.
Excellent for: Traders who are looking for access to spil many altcoins spil possible. Not superb for: Traders looking to minimize fees.
https://www.binance.com Fiat support: No Altcoin support: Good Order types: Market, limit, zekering limit Transaction fees: 0.1% regardless of maker or taker
A Hong Kong based exchange, Binance is another very popular choice across the globe. With latest news that China has banned cryptocurrency exchanges, there is reason to be weary, however Binance is registered outside of China and so is not presently subject to this geobsedeerd. It is a bit unique te that it wasgoed partially funded by it&rsquo,s own ICO (BNB). This has helped Binance to keep a very low transaction toverfee of 0.1%. Another very unique feature of Binance is it&rsquo,s incubator. The purpose is to help other pre-ICO blockchain startups achieve their goals.
Fiat money can not be used on Binnace so you will need to have purchased Bitcoin, etc. elsewhere and sent it to your Binance account. On the other arm, there are tons of altcoins available with trading pairs for the aforementioned Binance coin, Bitcoin, Ethereum and Tether. The exchange&rsquo,s UI is split into two separate, but identically clean UIs. Those just getting began will find the Basic view to be plain enough, while the Advanced view provides some devices for more experienced uses to do some basic technical analysis.
Excellent for: Traders looking for unique toneelpodium with a broad selection of coins and low fees. Not excellent for: Those who do not want to worry about keeping an eye on Chinese cryptocurrency regulations.
https://www.bitfinex.com Fiat support: Yes Altcoin support: Moderate Order types: Market, limit, zekering limit, trailing zekering AND margin trading Transaction fees: Moderate
Bitfinex is perhaps the most professional exchanges out there right now. So professional te fact, that the time of writing, they have temporarily disabled the creation of fresh accounts so spil to support existing accounts instead of &ldquo,fresh, puny accounts.&rdquo,
Albeit Bitfinex seems to take security very earnestly, a 2016 hack is something to take note of. Having no hiccups to speak of since that attack, Bitfinex has done well to bounce back.
For those willing to wait ter line for a Bitfinex account and look past the security breach, you will be getting a feature-rich verhoging. Perhaps the best set of order types out there, including a trailing zekering loss, spil well spil fiat support and margin trading, experienced traders should be pleased. Another fine and unique feature of Bitfinex is a customizable interface and ter browser notifications. Excellent for: Serious traders looking for top-notch features. Not good for: Those not interested ter doing much trading or traders who are looking for a large altcoin selection.
Bithumb regularly sits among the leaders ter trading volume despite being an exchange exclusively for Koreans (or at least those using the South Korean Won spil their currency). It offers fiat support for a dozen of the fattest coins (te regards to market cap), making it one of the few places where you can trade straight inbetween your base fiat currency and coins like Ripple and Monero. The Bithumb UI is very plain, yet effective for getting your mitts on some of the most popular cryptocurrencies. Unlike most other exchanges, you&rsquo,ll see no charts to showcase price history, making it unappealing for those looking to do any amount of day trading.
Good for: Those with access to the Korean Won and looking for an effortless place to trade it for popular cryptocurrencies. Not good for: Anyone without access to Korean currency or anyone looking to day trade.
Shapeshift of the most unique exchanges out there. It stays with the nature of cryptocurrencies by decentralizing the trading process. Te other words users need no account te order to exchange their Bitcoin for Ethereum. With no fiat support, but a low (practically nonexistent) barrier of entry to a pretty large selection of altcoins, Shapeshift has continued to grow spil a popular exchange among traders.
Another promising development from the Shapeshift team, Prism, presently sits te closed beta and has attracted a lotsbestemming of rente among crypto investors.
Superb for: Traders looking for a quick and decentralized way of exchanging inbetween cryptocurrencies. Not fine for: Traditional investors.
Kucoin is a Chinese exchange dubbed “The People’s Exchange”, but you can trade with BTC, ETH, NEO, USDT, and KucoinShares (KCS). This exchange supports a lotsbestemming of altcoins including latest ICOs and emerging cryptocurrencies. Presently, they support overheen 50 coins. Kucoin’s trading fees are set at 0.1% and their withdraw fees vary by coin. The UI is good, order book is active, and the trading section integrates with TradingView (one of the leading technical trading verhoging).
Good for: Traders who are looking to trade with NEO or want to have access to uncommon coins with low fees. Not superb for: Traders looking to get a large selection. Volume is still low compared to other well known exchanges.
Cobinhood is a very fresh exchange that has gotten a lotsbestemming of whirr te the crypto world, mostly due to ZERO transaction fees. It&rsquo,s UI very much resembles GDAX (a very solid UI). Cobinhood provides an ICO underwriting service. This means that once a participating coin&rsquo,s ICO finishes, the coins can be instantly listed on Cobinhood. This program is what provides funds, permitting Cobinhood to get by without the transaction fees.
Cobinhood is still te it&rsquo,s infancy, but it seems promising and is worth keeping on eye on down the road.
Good for: Traders looking for an alternative to something like GDAX. Not excellent for: Those looking for an established podium.
https://coinone.co.kr Fiat support: Yes (KRW only) Altcoin support: No Order types: Market, limit, cancel Transaction fees: 0.1% – 0.02% depending on level 1 – 9
Coinone is the 2nd largest exchange te South Korea. Coinone is based out of South Korea. It is considered the world&rsquo,s very first Ethereum Exchange with the Korean Won. Presently, the only fiat currency that is accepted is the Korean Won. Ethereum, Ethereum Classic, Bitcoin, Bitcoin Specie, Ripple, Qtum, and Litecoin are the only cryptocurrencies that are suggested by Coinone.
Superb for: Traders who are based te South Korea. Not superb for: International arbitrage, spil currency would need to exchanged for Korean Won very first.
https://cex.io Fiat support: Yes Altcoin support: Yes Order types: Market, limit, zekering limit Transaction fees: moderate taker, lower maker
CEX.IO is based out of London. CEX.IO permits trading for 99% of countries globally and permits for instant Bitcoin buying and selling through a plain bundle interface. However, not all US States are covered. CEX.IO is the very first cloud mining provider, and has became a multi-functional cryptocurrency exchange, suggesting cross-platform trading through the https://cex.io, mobile app, WebSocket and Surplus API. CEX.IO has worldwide coverage, numerous payment options, and a 24 &frasl,7 support.
Excellent for: Individual Business and Corporation spil there are no thresholds on purchasing bitcoins. Not superb for: Credit card processing toverfee is Trio.9% plus $0.25 vanaf purchase.
Best Ter Class
If you&rsquo,re still uncertain about which exchange is best for you, I&rsquo,d like to mention some favorites based on private practice.
Best Availability: Coinbase/GDAX
There are reports of account creation taking upwards of a month on some exchanges. Coinbase&rsquo,s high reputation with account creation, security, etc. make it the go-to toneelpodium for investors and traders all around the world.
Best UI: Poloniex
Albeit there are exchanges that suggest good technical analysis implements te their UI, a loterijlot of traders tend to use other services such spil Coinigy or TradingView for that zuigeling of stuff anyway.
Poloniex offers little ter that department, but it&rsquo,s such a solid UI with intuitive navigation and a good set of order types. Te particular, I indeed love being able to scroll through all coins and their price and volume while viewing the chart of one coin.
Best Altcoin Selection: Binance
Binance offers one of the widest altcoin selection on the market. It&rsquo,s good UI and low transaction fees make it a fine choice for traders who need access too all those coins.
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