Today there are a host of platforms to choose from, but not all exchanges are created equal. This list is based on user reviews as well as a host of other criteria such as user-friendliness, accessibility, fees, and security.
What to look out for before joining an exchange
Reputation – The best way to find out about an exchange is to search through reviews from individual users and well-known industry websites.
Fees – Most exchanges should have fee-related information on their websites. Before joining, make sure you understand deposit, transaction and withdrawal fees.
Payment Methods – What payment methods are available on the exchange? Credit & debit card? wire transfer? PayPal? If an exchange has limited payment options then it may not be convenient for you to use it.
Verification Requirements – The vast majority of the Bitcoin trading platforms both in the US and the UK require some sort of ID verification in order to make deposits & withdrawals.
Geographical Restrictions – Some specific user functions offered by exchanges are only accessible from certain countries. Make sure the exchange you want to join allows full access to all platform tools and functions in the country you currently live in.
Exchange Rate – Different exchanges have different rates.
Here are six of the best digital exchanges in no specific order.
Coinbase
Backed by trusted investors and used by millions of customers globally, Coinbase is one of the most popular and well-known brokers and trading platforms in the world. The Coinbase platform makes it easy to securely buy, use, store and trade digital currency.
Kraken
Founded in 2011, Kraken is the largest Bitcoin exchange in euro volume and liquidity and is a partner in the first cryptocurrency bank. Kraken lets you buy and sell bitcoins and trade between bitcoins and euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen. It’s also possible to trade digital currencies other than Bitcoin like Ethereum, Monero, Ethereum Classic, Augur REP tokens, ICONOMI, Zcash, Litecoin, Dogecoin, Ripple and Stellar/Lumens.
Cex.io
Cex.io provides a wide range of services for using bitcoin and other cryptocurrencies. The platform lets users easily trade fiat money with cryptocurrencies and conversely cryptocurrencies for fiat money. For those looking to trade bitcoins professionally, the platform offers personalized and user-friendly trading dashboards and margin trading.
ShapeShift
ShapeShift is the leading exchange that supports a variety of cryptocurrencies including Bitcoin, Ethereum, Monero, Zcash, Dash, Dogecoin and many others. Shapeshift is great for those who want to make instant straightforward trades without signing up to an account or relying on a platform to hold their funds.
Poloniex
Founded in 2014, Poloniex is one of the world’s leading cryptocurrency exchanges. The exchange offers a secure trading environment with more than 100 different Bitcoin cryptocurrency pairings and advanced tools and data analysis for advanced traders. As one of the most popular trading platforms with the highest trading volumes, users will always be able to close a trade position.
Bitstamp
Bitstamp is a European Union based bitcoin marketplace founded in 2011. The platform is one of the first generation bitcoin exchanges that has built up a loyal customer base. Bitstamp is well known and trusted throughout the bitcoin community as a safe platform. It offers advanced security features such as two-step authentication, multisig technology for its wallet and fully insured cold storage.
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thanks for this, it is very important, personally im on CEX.io and Poloniex but what I am finding difficult is the limits on CEX.io and buying at a much higher price than what is stated on poloniex. so i buy higher on cex.io then transfer to poloniex to trade, what other ways is there as I am based in zimbabwe and coinbase does not work here.