How to buy bitcoin using this list of exchanges?
Hopefully the list of bitcoin exchanges above will be of good use for how to trade bitcoins. Each outstanding site should have detailed instructions. From here, one can easily figure out how to buy bitcoin with credit card, paypal, cash, bank transfers. Once you have got some coins then it is a good idea to store them offline (not on an exchange). For “cold” vs “hot” storage options – check out the list of available wallets. When wanting buy or sell it is safer just to transfer in and out of your ‘cold’ wallet to the ‘hot’ online exchange. Remember that so long as an offline wallet’s keys have not been compromised, then those coins cannot be taken.
What is the best site to buy bitcoin in the above list?
It’s a tough question in my opinion. Each will have an upside compared to others. Check a few out and look up on forums to see what users are saying about the service provided, and which they think are the best sites to buy bitcoin easily. Localbitcoins.com is a really cool p2p bitcoin exchange for beginners wanting to buy for their first time. The service is all over the world, meaning you can use euros, pounds, yen, australian dollars, swiss francs, canadian dollars, krona, rubles, lira, rupees and so on. If you pay by physical cash then you get to meet the person in real life. Alternatively you can do a fast bank transfer and the site will hold your coins in escrow for you once it goes through. Obviously there are more simple ways to start off. Some like to buy with paypal, but not many leading bitcoin exchanges accept this because of chargebacks.
Which are the largest exchanges?
Generally the biggest bitcoin exchanges will be toward the top of the above list. For example Bitfinex, GDAX, Bitstamp, Coinbase (also the best usd bitcoin exchange) all represent large volume proportions. Daily volume varies, and therefore the world’s largest exchange vary each day. Go to bitcoinity for a good list of all the top bitcoin exchange site and their proportional volumes. Some find this handy for arbitrage between markets.
What about the best cryptocurrency exchange?
Sadly, with the demise of Cryptsy there is a need for a new major first-rate cryptocurrency exchange (aka altcoins). Having many medium-sized cryptocurrency exchange sites is a better situation than having one large amazing option. Bittrex (new account creation temporarily disabled) has now replaced Poloniex as the largest most amazing option. Its platform is functional enough to have attracted tens of millions of new customer every month. Things feel smooth when using Bittrex. All big and small trading pairs are offered and it is now possible to do cryptocurrency margin trading on major altcoins. This is a cool feature, but use it with caution as leveraged trading has a certain risk factor. Keep in mind that some of the best bitcoin exchange sites also do altcoins. Yobit, Bittrex, Cryptopia and Changelly, are great options worth checking out. Some even offer short selling on major coins. You may also like to check themarket capitalizations and compare them to others listed there.
Where to find the most secure bitcoin exchange?
This is an important question to ask. Yes, putting the words trustworthy bitcoin exchange in the same sentence seems like an oxymoron, especially when remembering the shiny days of MtGox (aka Empty-Gox). While the bitcoin protocol has never been hacked, many peripheral businesses have. Perhaps the best question to ask would be: which are the least secure bitcoin exchanges. Generally, those listed here are optimum and of good standing, but please proceed with caution. Remember never to leave more btc online than you can afford to loose.
Please come back to my blog and rate which ever finest site(s) you chose to buy BTC online. This helps future visitors immensely.
For in-depth discussion: listen to Andreas Antonopoulos on the LetsTalkBitcoin podcast, and check out r/btc.
The best bitcoin exchanges in 2018:
Coinbase.com
Coinbase combine an attractive interface, a great site to get bitcoins with a debit card, and an insured online wallet for your digital currency. Over 30,000,000 users are signed up, including 75,000 merchants, and 15000 developer apps. Works well for European, and American customers. I’ve also written a comprehensive Coinbase review for more detail.
Pros
The most user-friendly and trusted platform, currently has 200 million page-views per month
Lots of long-time customers
Online wallet with insurance
Cons
Slightly more work needed when verifying account
Bittrex.com
Update: I’ve unlisted Bittrex from the ranking while new account registrations remain closed. I’ll be re-listing the exchange once new sign-ups are allowed.
Bittrex has earned it’s place as the new contender to the throne of world’s largest crypto exchange. Years of hard work and some lucky circumstances (BTC-e shut-down, Poloniex exodus, Cryptsy) have compounded a steady inflow of new users. I’ll let you read the detail in myBittrex review, which has some important facts and analysis.
Pros
Nearly 200 trading pairs
Currently the most visited altcoin exchange with over 150 million monthly visits
Trusted by millions of traders
High volumes available for big trades
Cons
New account registration temporarily disabled to cope with demand. Cannot scale as well as Poloniex or Coinbase
Heavy vetting requirements – especially for a non-fiat exchange
Minor scaling issues as users flow in to sing-up
Localbitcoins.com
Localbitcoins is quite a popular for p2p (person to person) transactions all over the world. Simply put, you interact directly with the guy selling to you. Out of all the bitcoin sites listed here, this is one of the first and most reputed. Escrow and dispute resolution is provided by the site.
Pros
Great way to meet people
PayPal also available
No verification needed in most cases
Popular in all countries around the globe
Cons
May take longer to conclude in-person transactions
Risks associated with anonymous transactions
Reports of ome seller bank accounts being been suspended after receiving money
Cex.io
Update: Cex has been removed from the top exchanges while new account registrations are currently disabled. I’m following the situation closely
CEX is one of those international bitcoin exchanges accepting euros, British pounds, US dollars, Russian Rubles, Ethereum, Zcash, and Dash. Needless to say, CEX is very popular within those currency regions. There is a no-nonsense landing page, giving you the option to buy or sell 100, 200, 500, or 1000 USD worth of Bitcoin. I like the transparency given to users about how much they will actually pay – even before they sign up. Good security practices, a modern and simple user interface, and both bank transfer & credit card purchases are available. CEX is indeed a good beginner-optimized alternative to Coinbase. Read the comprehensive Cex review for more details including fees, verification, & security.
Pros
Bank transfer and credit card deposits
Very easy to use & great for beginners
Users know how much they will pay before even signing up
Buying and selling Ethereum is available
Cons
Recently Litecoin was unlisted
Kraken.com
Update: In late 2017 Kraken was temporarily unlisted here following extensive trading engine and UI issues. Thankfully, in January 2018 the website underwent a successful migration and all systems are now reported to be functioning to everyone’s satisfaction.
Kraken works well through SEPA, has an easy verification process (expect 4-6 weeks vetting with current backlog) compared to Bitstamp, and is very knowledgeable when it come to cryptography and security. As of early 2017, this platform has been re-positioning themselves as a crypto exchange by adding multiple new altcoins. I’ve written an in-depth Kraken review with everything you need to know..
Pros
Cheapest rates and fastest times for trading, depositing and withdrawing
Work best for Europeans and North America
Has successfully resloved site-wide timeouts and trading engine lag
Cons
A recent code update caused the site to be offline for 3 days.
Recently disabled stop-loss and other trading features without giving explanation to the community
Site not as visually intuitive as Coinbase or Cex
GDAX.com
GDAX is great for technical traders and offers high levels of liquidity. Deposits are in USD and can be processed just as rapidly as withdrawls. Also happens to be the best ethereum exchange for serious players in this space.
Pros
An integral part of the trusted Coinbase brand
Optimized to be a serious trading site
Cons
More ID processing steps than on Chinese trading platforms
Bitstamp.net
Bitstamp are big in Europe and, since 2011, have moved from Slovenia, and the United Kingdom in search of sound regulatory environments. Good volumes are available for larger trades. Well received by people using SEPA and credit cards. Both euro and US dollar deposits are accepted. I like Bitstamp because they really focus on being a pure bitcoin-only exchange (update: since 2017 Bitstamp have started adding popular cryptocoins). Please read my Bitstamp critique for analysis of factors such as security, fees, and the history.
Pros
Card purchases available (visa mastercard and visa) in Europe and the USA.
HQ Located in Luxembourg
Good for large transactions yet easy to use for beginners
Cons
Not available outside of EU and the USA
Etherdelta.com
Etherdelta is a recent addition to my list. You absolutely have to check this decentralized exchange (DeX) out. Created by developer Zack Coburn in 2016, Etherdelta has become the community’s favorite place to trade Ethereum ICO tokens without using custodial accounts or centralized services. More than 325 ERC20 tokens are listed. Daily trading volumes are respectable for the most popular ICO coins. Using this DeX requires the Metamask Chrome browser extension. The best part is that your money is always under your control. Such infallibility comes from the storing of all personal funds in smart contracts – over which only you have control of the private keys.
Pros
Funds are extremely safe on this fully-decentralized exchange
No ID, real name, or registration of any sort is required.
High-volume ERC20 exchange for trading Ethereum ICO tokens
Cons
Beginners will have to watch a tutorial to understand how to use Etherdelta
Despite trust-less nature of p2p decentralized exchanges, Etherdelta still uses DNS resolution – and this was compromised last month.
Poloniex.com
Poloniex was once the best cryptocurrency exchange, before competitors like Bittrex starting offering superior services. Nevertheless Poloniex went through extremely fast traffic growth since the demise of its rival Cryptsy in 2016, and especially since the recent altcoin bubble of early 2017. Traffic has grown from 33 million monthly visits in November 2017 to 66 million in December 2017. Poloniex has the nicest trading interface out there, both for mobile and desktop users this will work wonders. Please note that because Poloniex is a pure “crypto” exchange, it is not possible to deposit government (fiat) currency. You’ll need to first buy bitcoin elsewhere, and then deposit it to be able to tade. I’ve written a full analysis of Poloniex, further exploring the founders, users, security, fees, history, and alternatives.
Pros
New wave of popularity after competitor Bitt rex temporarily halts new account registrations
Margin trading (up to 4x) available on largest altcoins
One of the best trading interfaces for mobile and desktop browsers
Has good volumes for large trades on all major altcoins including Ethereum.
Cons
Lost significant customer-base due to reports of user withdraw issues and lack of customer support
Requires vetting while most other non-fiat crypto exchanges don’t
Not possible to deposit fiat currency
Paxful.com
Paxful get over 2 million monthly visits, with 50% originating from the USA. It’s a peer to peer Bitcoin marketplace connecting buyers with sellers similar to the one above. Over 150 payment methods can be used. Impressive.
Pros
Hundreds of payment methods such as Paypal, Skrill and NetTeller, cash – or even iTunes & Amazon gift cards.
p2p (person to person) – similar to Localbitcoins
A good alternative for relatively anonymous purchasing
Cons
Significantly higher fees compared to other p2p platforms like Localbitcoins
CoinATMradar.com
CoinATMradar provide a global map of bitcoin ATMs. This allows you to use cash to buy in person at a physical machine. This is one of the most underrated means of purchasing with no verification of ID, and allows users to stay anonymous with over 869 ATMs srpead over each continent.
Pros
Find bATM locations near you
No ID needed in some cases
Explains how a bitcoin atm works
Cons
Not always possible to find a machine nearby
You’ll have to leave your house!
Bisq.io
Bisq (aka “Bitsquare”) is not to be missed for the more technically advanced. A decentralized p2p platform that keeps you super safe. Over 60 crypocurrencies can be traded and you can even purcahse btc using a bank transfer, escrow, & trusted 3rd parties.
Pros
Even more decentralized than ERC20 token exchange, Etherdelta
p2p ANDdecentralized
Trusted escrow system for bank transfers
Cons
Advanced level of IT comprehension needed
The high skill-level barrier to entry results in far lower volumes on Bisq. Therefore not great for large orders.
Coinmama.com
A popular site for buying bitcoin or ether from those far-out tricky countries that are not accepted by the larger exchanges. Note that users cannot sell back to the site – only buy. There’s much more detail in my inspection of Coinmama which I encourage you to read.
Pros
Credit card purchases from nearly all countries
Cons
Fees are higher than most sites
Not possible to sell cryptocurrency back to the exchange
Bitmex.com
Bitmex is the leading bitcoin margin trading site. Users can trade cryptocurrency derivatives with up to 100x leverage. Pairs include BTC/USD, Yen, Monero, Ripple, Dash, and Ethereum. Bitmex CEO Arthur Hayes has used his experience as an equity derivatives trader for Deutsche Bank to design, build, and maintain exactly the type of platform that users are looking for. Granted that this platform is for experienced and seasoned traders. Beginners should avoid trading coins here without knowing the implied volatility risks.
Pros
Leading platform for bitcoin derivatives and margin trading
Relatively functional user experience thanks to crafty designing
Up to 100x leverage
Cons
With such high leverage it’s easy to overlook implied risk factor