Bitcoin is one of themost popular digital currencyon the planet for a number of reasons like that is anonymous, records on the public ledger in the form of the blockchain, no middlemen involved, direct person to person, very low transaction fee, Real-time transaction execution, No government tax, etc. Except for Bitcoins, Cryptoworld has more than 1500+ crypto coins. These total coins capitalization is more than 450 Billion (April 30, 2018).
Everyday various crypto trading platform performs more than 40+ billion trading within only 24+ hours; This is highly growing industry. If you also highly interested want to perform your day to day trading or want tobuy some bitcoinsor other alternativescoins like DASH, XMR, LTC, XRP, EOSor more, thenthese Bitcoin Trading platforms can help you.
Thes listedbest cryptocurrency trading platform also can help you to direct buy any crypto with wire-transfer,with credit cardswith debit cardsPaypalonline.
So in this piece Ill walk you through some of thebest Bitcoin market and trading platformsexisting in the industry.
Before diving into this list on some of the Bitcoin Trading Platform, lets share some points on what makes them the best, or what you should be eyeing for when searching for the best Bitcoin trading platforms.
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Lets understand the all best bitcoin exchange markets info by the help if top 10 Table. The table will help you for quick understand which best trading platform for the cryptocurrency.
If you are not getting sufficient information and still looking more crypto trading platform with description then you may go ahead, below I a describing every point that you should know before joining any listed bitcoin trading exchange. Lets go!
This is the complete guide that will help you to understand all concept about any bitcoins and what specific criteria you need to take in your mind before sign up on these crypto exchanges.
Note:Before anything, I want to tell you one thing. If you are not the day trader and want to hold your cryptocurrencies for a long time then never leave your crypto coins any of these exchanges. Always hold your cryptocurrencies in theassociated crypto wallets.
Reputation always major points that define everything about the brand, in same scenario. Here also you need to check these best bitcoin exchanges reputation, like his review, previous users thoughts, and website status. All type queries, you may try any social media sites, like reddit, Facebook, Twitter or also can check available forums. I am recommending you, Reddit or Forums because both platforms drive real-time queries. That can help you to understand the reputation of these listed exchanges.
Another point that can help you to identify the right platform, that can protect your money. Security is because if bitcoin exchange doesnt take seriously to his platform security, then you may lose your money within a second thats why check out security measure points and also notify privacy points.Here I notice privacy because these days, governments want to regulate cryptocurrency thats why they are controlling on these exchanges, for example: before couple days ago,
. Which is not good for every crypto users. If your privacy matter for you, then please focus on this point.
Inside this point, If you are day trader than fee will matter for you, because day trader performs many transactions within the single day, if you focus on then fee, then you ca save your lot of money per month. Some bitcoin exchanges are taking a fee on every transaction like withdrawal, deposit, or trading. But some not, These depend on then bitcoins trading platforms.
I notify this point because mostly crypto trading exchanges only deals with bitcoins or other altcoins, but suppose you dont have any crypto coins then how you will get your first cryptocurrency then definitely you will have an answer is, you will buy these coins with debit cards, credit cards or wire transfer. But mostly not offers these service and which crypto trading platform these service they always taking fee for these service.
If you deal with mostly available secure crypto trading platform then they will definitely manually approve your accounts, in some cases they can varify your government approved documents with live selfy. Dont panic; this is only for your security. In theCEX.IOcase, they offer
withdrawal/deposit thats why they first approve your cards or bank a/c detail before making any transaction.
Geo Restriction because before signup, if you will signup on that type bitcoins trading exchange that are not offering service in your region then you can not perform any action on that type platform and you cant withdraw your money on these platforms.
This is the last point that can clear which trading platform best for you If exchange support is not good then you may phase problem in ticket resolution, in some cases, I saw platforms reply to your ticket within 2 or 3 working days.
Factors to Look For in the Best Bitcoin Market
Bitcoin markets will without doubt share one common core point, thats they all are there to facilitate the trading of Bitcoins. But there are quite a number of factors which makes them stand apart from the crowd and the reason why only some of the Bitcoin trading platforms are on this list and not the others.
Trade volume gives you an insight of how much of Bitcoin the Bitcoin trading platform is handling on an average. If the number is high, its a clear indicator that the platform is trusted and has a good reputation.
Also its a general rule that trading platforms with more trade volume will find themselves closer to the averageBitcoin marketvalue, while those with not as much trade value as them might venture away from that average.
(You wouldnt want to miss the 10 on this list, especially in regards to Trade Volume!)
You can check the trade volume on the platforms themselves, or from a general trade volume index from Google.
Bitcoin is a digital currency, so its the equivalent of real money in the digital world, hence its important for the Bitcoin trading markets to make sure that there platform is as airtight as it can be.
So when choosing your Bitcoin trading platform you need to ensure that the platform youre going with uses as many encryption protocols, security measures and methods to make sure your account and money are safe.
At the very least, a two-step verification is a must to begin with, after that theres literally no end where this list ends, the more steps needed to get into your account, the better (even if it consumes a bit more time than general logins!)
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Obviously, there are various amount and types of charges or fee any Bitcoin market incurs on its customers and clients. How much is the fee, and what are the grounds on which its charged also goes on to tell a reveal a lot about the platform.
The most obvious charge pattern is the charge on your amount of currency on a percentile basis. The morecurrency you trade, the more amount youve got to pay as its percentage.
While others might use other models where only Buyers pay a fee and not sellers, or one of them pays a reduced fee, this model is called the Maker-taker model.
There are a lot of different payment methods, the trick here is to ensure whats your purpose of using the platform, how much currency youre trading, and which method or structure suits you best.
The percentile basis is the most used method because on a small-mid range it works best in the favor of the users, but if youre trading a lot of currencies, the other models might be more profitable for you.
Now these arent all the factors which decide the popularity or efficiency of Bitcoin markets, but they are the most obvious, easily identifiable and influential ones for sure.
Cex.io has it clearly listed on their homepage that its a Bitcoin market which facilitates simple Bitcoin trading,Bitcoin Wallet, where you can buy Bitcoins and sell Bitcoins, as simple as that. They have their base in almost 99% of the countries on the globe hence confirming their strong base in the Bitcoin market.
Starting with the payment methods, it supports a wide range of options including Credit/Debit Cards, Bank Transfer and even cryptocurrency!
As far as security goes, it has a strong encryption algorithm which protects it against any kind of potential threats, hence your currency is safe.
Also it has a special maker-taker model where the maker doesnt have to pay any fee! Well yeah, its 0% for them, only the taker bears the fee and even then its pretty lucrative and not heavy on your pockets.
Or if you trade n bulk, in that case, it has a special high-volume trade fee structure so you pay lower than you normally would have to.
Not to mention that it allows Margin Trading, where you can borrow money and hence trade more than you would have been able to on your own currency. It supports margins of 1:2 and 1:3 currently. And the best part is its all automated!
Binance is one of my personal favorite exchanges for a number of reasons, one of them being Ive made most profits over there, with the least restrictions.
It has become one of the best and most used exchanges (in terms of trading volume) since early 2018.
For starters, its one of the very few Bitcoin exchanges in 2019 which let you start trading with absolutely 0 identity-proof or KYC requirements; meaning you can just signup and start trading with absolute anonymity.
There however are limits for un-verified accounts, those are only allowed to withdraw a maximum of 2BTC in 24 hours. Level 2 KYC-verified accounts can withdraw upto 100BTC/24 hours; while Level-3 accounts have a much higher, undisclosed limit.
It was a crypto-only exchange earlier; but they recently started letting users buy Fiats directly using their Credit cards via Simplex. Although currently only BTC, XRP, ETH, LTC and BCHABC can be bought directly from cards.
The fee for buying directly using cards via Simplex (the payment processor) is 3.5% of the transaction, or USD $10.00 (whichever is higher).The fiat-purchase is alsolimited at USD $20,000/user/day; or USD $50,000/user/month. There also is a minimum USD $50.00 purchase limit.
It also is one of the most extensively ERC-token accepting exchanges; meaning there are over a 100 different tokens and coins you can trade on Binance.
Theres absolutely no deposit fee. The Withdrawal fee is adjusted regularly according to market conditions, however at the time of writing this article BTC withdrawal was priced at 0.0005 BTC/withdrawal with a minimum Withdrawal limit of 0.002BTC.
The trading fee is 0.1% generally; but it has this unique feature of letting you use BNB Coins for the fee; in which case the fee is discounted at 50% for the first year, 25% for the second year, 12.5% the third; and 6.75% for the fourth year. So users have to start paying 0.1% fee (or the 100% of the then-fee amount) only from the 5th year!
The exchange supports all the countries on the planet except- Ivory Coast, Kyrgyzstan, Lebanon, Congo (Kinshasa), Cuba, Korea, Eritrea, Iran, Iraq, Libya, South Sudan, Sudan, Afghanistan,China, Congo (Brazzaville).
And even though it supports U.S; some states including NYC, Georgia, New Mexico, Hawaii, Connecticut, and Washington arent supported.
LocalBitcoins is a Bitcoin market with a totally different vision and environment. In simple words, it can be explained as a Bitcoin forum where you actually meet with the person whos selling or buying your Bitcoins.Ebay of Bitcoins describes it just fine.
You can either buy or sell your Bitcoins online on Local Bitcoins directly to other humans. LocalBitcoin servers as anonline wallet, anescrow systemto facilitate a safe deal.
Because of the fact that you deal with a human and not an online market or computer, the exchange rate and payment method differs based on the person youre trying to sell or buy it from, as they might be from different countries, have different currencies and might prefer different payment methods.
But this also ensures a wide-range of payment options, in fact, it can be said that LocalBitcoins supports almost every payment method on the planet, because if the other party wants aPaypal transfer, Wire-transfer or anything else, it doesnt matter as you can always make it separately and theres no involvement of LocalBitcoins on that front mandatory.
As a safety measure, you can check any persons public history, so people with high scores indicate theyre legit and can be trusted.The Escrow servicefrom Local Bitcoin ensures that the seller gets their money only after youve confirmed receiving of the Bitcoins, and vice-versa.
Obviously, two-step authentication is available and works towards making your LocalBitcoin account and wallet secure. If thats not enough for you for some reason, theres an extra security layer called login guard which makes sure youre using the same device and same browser everytime, if not an extra e-mail confirmation is required to login.
Bottomline? LocalBitcoins is a Bitcoin market which decentralizes and humanizes Bitcoin trade.
eToro isnt just a Bitcoin trading exchange, not even just a Cryptocurrency exchange, rather a complete trading solution which lets userstrade ETFs, commodities, Stocks, Indicesand then obviously also Cryptocurrencies.
The program had a short-run in the U.S but was pulled off the U.S market due to conflicting govt. policies; although they did announce of a new Crypto exchange which would be available in U.S soon.
Currently it doesnt support a lot of Cryptocurrencies but is limited to around 15 of them; includingBitcoin, ETH, LTC, BCH, XRP, ADA, NEO, TRX, BNBetc.
The Fee-structure is where most users get confused, considering how its not as simple or straight-forward but what you need to know is theres aWithdrawal fee of USD $25.00 on each withdrawal;so its advised to cash out in bulk so you dont lose a lot of money.
There also is an inactivity fee, charged on accounts which havent been logged into for the past 12 months; and a sum of USD $10.00/month is charged every month that the account remains inactive.
As for the conversion fee, when users buy Crypto on eToro using Fiat; theres an eToroX fee of 1% or when Simplex is used its 4% of the transaction. The maximum deposit possible varies depending on the mode of deposit.
Also theres a minimum Fiat-to-Crypto limit of USD $125.00, while the maximum being USD $10,000/transaction, there however is an additional daily limit of USD $20,000 followed by a monthly limit of USD $50,000.
Converting one Cryptocurrency to another on eToro isnt free either and is charged at 0.1% of the transaction, followed by a minimum Crypto-to-Crypto conversion limit of 0.006 BTC/conversion and a maximum-unit limit of 3 BTC/transaction (varies for each Cryptocurrency).
Its an extremely by-the-books organization and hence requires extensive KYC verification for users to use the platform. Also its not available in the following countries USA, Myanmar, North Korea, Cuba, Sudan, Syria and Iran.
Lastly, it offers users a free, demo-account with USD $100,000 in virtual funds which can be used to learn, understand and get a lay of the field before jumping in with real cash.
OK Coin leads with the tagline- Leading Global Digital Asset Exchange, and with a trading volume of 218BTC (8,67,731.56 USD exactly according to the current rate)it may not be the most used Bitcoin trading exchange in 2019, but sure tops the charts.
The User-interface is pretty simply and easy to understand for starters.
It offers two types of accounts, Personal and Institutional although does require intensive identity verification for each so its not strong on the anonymity. They have three verification level, and in order to trade users have to be atleast level 3.
The verification takes a maximum of 48hours in most cases; and is most often completed in less than a working day.
There are absolutely no trading limits unlike some other best Bitcoin exchanges of 2019 on this list; however KYC-2 level users get to deposit a maximum of USD $1,000,000.00/day; as for withdrawal a total of USD $1,000,000.00 (combined for Crypto tokens and fiat currencies) can be withdrawn.
For KYC-3 users; the daily fiat deposit limit is USD $2,000,000.00/day and for withdrawal its again a total of USD $2,000,000.00/day combined for Tokens and Fiats.
Their deposit-fee is as follows (and I quote from a live-chat with Nesh, an OkCoin representative)-Regarding OKCoin Fiat Deposit we have 4 methods:
Bank Card Transfer and Epay – 1% fee from OKCoin
Silvergate Bank and Signature Bank – no fee from OKCoin
Deposits can be made using Paypal, Credit/Debit cards, Bank transfers and also via SilverGate for U.S customers.
As for trading fee; it differs based on the amount being traded:
For amounts below USD $100,000 its 0.05% for the Maker and 0.15% for the Taker.
USD $100,000 USD $1,000,000 its 0.02% for the Maker and 0.12% for the Taker.
USD $1Million USD $5Million Absolutely free for the Maker and 0.10% for the Taker.
Above USD $5Million Free for the Maker, 0.05% for the Taker.
Withdrawal fee is 0.1% for OKCoin and has to be a minimum of USD $15.00; 1% for EPay and as for bank withdrawals will depend on individual banks.
Account security features include 2-FA via eitherGoogle Authenticator, or SMS. They even have a call-verification firewall in place in case the system senses a withdrawal request to be suspicious.
Theyre available in almost all the countries on the planet, with the only exceptions being Crimea, Sudan, Bangladesh, Bolivia, Ecuador, Kyrgyzstan Syria, Malaysia, Cuba, Iran and North Korea.
The trading pairs may not be as extensive as Binance; but do include some of the most common ones such as /USD, /BTC as well as /ETH. Heres the full list-
They do have an extremely secure cold-storage for safe-keeping majority of the funds. Lastly; their support is truly one of the fastest, and most personally involved supports Ive ever talked to; they do the legwork for their users and will actually try to eliminate user problems from their end instead of redirecting you to various links.
KuCoin is a new player to the Bitcoin exchange game, however since its angel investment round in August it did skyrocket its performance, availability, features and everything else.
Although its still not as feature-rich as some other Bitcoin exchanges mentioned on this list; it doesnt support Fiat deposits to begin with; no fiat payment methods are supported for withdrawals either.
So all you can do on KuCoin is; send in crypto which you already own trade the currency you sent for other coins. It doesnt even allow withdrawing funds directly in any fiat form; and hence users need to send the funds to other exchanges and then withdraw them if they want to.
It requires KYC verification although the good news is they arent absolutely mandatory, meaning even non-KYC verified members can trade on the platform although theyre limited at2BTC withdrawal/day, although verified members have an extended limit of100BTC withdrawal/day.
As for institutional accounts the limit can be extended upto 500BTC/day.
As for the fee; and I quote a KuCoin representative- The Maker and Taker base transaction fees for all trading pairs are 0.1% (Except for the GGC trading pairs, which is 0.25%).
For account security they offer2-FA via Google Authenticator and even SMS, although the SMS feature is only available in:
Trading Passwords are another security fail-safe which can be set on the platform, they are like 2-FA but not for login rather are used for transactions, withdrawals and other major fund-related activities. Advanced features such as an anti-phishing mechanism as well as Login safety phrase are available as well.
Coinbase is without doubt one of the best cryptocurrency trading market in the industry, it also is one of the most professional options when it comes to a Bitcoin market.
It offers simple buying and selling of Bitcoins, in one of the most secure environments in the industry.
It uses the Dollar cost averaging method and allows quite a bit of automation to you as a user. Primarily you can automate purchase and sales of Bitcoin without you having to touch the computer.
The initial buying limit is restricted to a lower amount, and is raised later when you start bitcoin trading more frequently and in higher amounts. You can use aCredit Card/Debit Cardand any proof of identity to raise your limit with Coinbase.
The limit also varies based on your residence, type of citizenship and method used to purchase Bitcoins. The highest limit is $50,000 worth of Bitcoins/day for a completely native and/or verified US resident.
Also ACH payment method will clear you for a higher limit compared to using a Credit card for the same. It was initially launched only with Wire transfer as funds transfer method, but has been equipped with Credit/Debit and Paypal payments as well.
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The processing fee differs based on Payment method and country. Its generally around the brackets of 1%-3.5% based on the difference in factors.
The only downside is, youve got to be professional while using Coinbase. If youre trying to use Coinbase for anything thats even remotely not on the brighter side of law, your account has a good chance of getting suspended.
They claim to be the worlds largest Bitcoin trading platform and well with a 24 hour trade volume of $128,743,404, its really acceptable isnt it?
First and foremost reason why BitFinex deserves to be on this Bitcoin market list is because of their magnanimous trade volume!
Their trade volume was $625,808,722 for 7 days, and $1,425,215,354 for a month a year ago; even then they were practically demanding trust, but today even after BTC has lost over 80% of its then-value; they have a 24-hour trade volume of $195,177,028, a 7-day volume of $876,212,297 and $5,266,357,228 for a month! These numbers do establish the fact that BitFinex is still one of the best BTC exchanges in 2019!
Secondly, they claim to have the minimum slippage during an exchange, and support a wide range of options apart from Bitcoins, including Ethereum, Zcash, Litecoin and Monero to name just a few.
And their security measures are seriously one of the best Ive ever seen with any Bitcoin market:
And thats not all! They even monitor Withdrawal requests, and in case of a foreign IP address, or any unusual activity the request is paused and a manual inspection is commenced.
And another one of their features is the ability to let you add Address Whitelist so the only place yourBitcoincan go is that specific address and no where else.
The currency is stored in cold-storage, with only 0.5% of the currency being kept in hot-wallets for everyday transactions.
Even the cold-wallets are protected, and require high-level manual access from the team to be transferred anywhere else!
So the one thing youre definitely getting with BitFinex is top-notch security for your funds.
They offer Margin Trading as well with a leverage of 3.3x which can be completely automated.
As far as interface or customization is concerned, they not only offer some of the best looking dashboards, but they can be completely customized from your end as well!
And obviously their API is advanced enough for you integrate with any of your custom made tools to monitor pre-made charts, create your own charts, edit orders automatically or anything else based on your skills and creativity.
Fee structure is based on the Maker-Taker model. It starts with a 0.100% for Makers, and 0.200% for takers percentage. And gradually decreases up to the point of $5,000,000, after which point the fee is completely revoked and trading is free for the makers.
LakeBTC is best known for its security measures and transaction fee, which equally competes with the fee of any other large Bitcoin trader in the industry since its early days.
The other feature worth pointing out is its huge currency support! It supports USD, HKD, GBP, AUD and almost all the other commonly used currencies.
It offers great liquidity to individuals and institutions as well, and is a part of some of the largest Bitcoin indexes on the planet including IRBA and CFTC.
They use a trader-maker model by default, where the taker pays 0.2% on all the transactions, while the fee for the maker differs based on different factors.
Free: For makers with volume 20,000BTC
0.02% if the volume is 15,000 but 20,000
And it grows up to a mark of 0.15% if the volume is lower than 500 BTC and is then consistent till you cross the 500 BTC mark.
BitStamp is another giant in the line of facilitating Bitcoin trading in the Bitcoin market with an average 30-day trade volume of 222,000 (meaning lower Bitcoin prices and bulk buying opportunities for you!) And also is the first Nationally Licensed Operator on the planet.
The primary edge they get over other platforms is their ability to accept a number of currencies, ranging beyond just US Dollars, including Euros, British Pounds and Francs (Switzerland) as well!
As far as processing fee goes, it has a very simple calculation to that. It uses the percentile system we talked about, you generally pay 0.25% for $20,000 and it keeps dropping as the amount increases. The lowest mark being 0.10% at $20 Million!
You obviously get the two step authentication that almost every single Bitcoin market Ive listed in this list accounts for, so in addition to your Password, youll also need to verify a custom OTP every time you try to login.
Although you cant use Paypal to purchase Bitcoins, and thats totally natural because of the Refund feature from Paypal which might lead to fraudulent activities from buyers if they are capable of reversing the transactions later.
The other factor which you might not be excited about is the fact that it does collect a bit of personal information, although nothing thats too personal, and it gives us a clear insight so as to how the information will be used, and under what circumstances.
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This is an extremely Trade focused Bitcoin market. But if thats what youre looking for, youre exactly where you should be. Offering great Bitcoin pairs like JPY, GBP, EUR, USD it makes for one of the best Bitcoin trading platform in the industry.
Also, I personally love the security, it uses two-factor authentication just like any other security conscious Bitcoin market, in addition to its PGP and GPG encryption algorithms.
If thats not enough you can also initiate a Master Key for added protection to your accounts.
Apart from the two-step authentication and encryption, it uses a cold wallet to store the digital currencies. Meaning all new deposits will be stored in an environment which is completely isolated from any online system.
It uses two other kinds ofBitcoin wallets, semi-cold and hot to store currencies for different purposes. Point being, its secure, period!
Another one of the features I love about Kraken is its ability to let you use Leveraged trading, meaning youre allowed to use as many as 5x shorting!
Finally, it uses tier-based fee