Bitcoin is gaining momentum faster than anybody initially thought. People around the globe have already started talking about it, and thanks to many new startups, even non-technical people are able to purchase Bitcoin these days.
If you search for “Best Bitcoin exchanges“, you will get overwhelmed with the options available. But this exclusive guide will help you pick one of the top Bitcoin exchanges around the globe to do business with. Most of these exchanges accept money by wire transfer & the best part is, you can use them from any part of the world (as long as Bitcoin is not illegal in your country).
- Also read: What is Bitcoin? [Comprehensive Guide]
So without further ado, let’s look at the best Bitcoin trading platforms to help you buy and/or sell Bitcoin.
Here is a list of the top Bitcoins exchanges around the world:
- Poloniex (Supports all cryptocurrencies)
- Bitmex (High volume with many less known Cryptocurrencies available as well)
- GDAX (Part of Coinbase)
- LocalBitcoins (Decentralized exchange)
- Coinsecure (Indian Bitcoin Exchange)
- Huobi (Chinese exchange)
- OKCoin (Chinese exchange)
- Gemini (Trusted & popular)
If you are looking for a website to buy Bitcoins instantly, here are some of the best & most reliable options:
9 of the Best Bitcoin Exchanges
Bittrex is my favorite Bitcoin exchange because of its clean design and easy usability.
It is a US-based cryptocurrency exchange that provides you the option to trade more than 190 cryptocurrencies at a time. They are well-regulated and compliant with all of the current US rules, so crypto users need not worry about the safety of their funds.
Bittrex handles one of the largest BTC trading volumes out of all the exchanges in the world.
To get started with Bittrex, you need to register and log in through your email ID, but to withdraw funds, you need to do a KYC by submitting your ID documents and phone number, as well as enabling two-factor authentication for higher limits.
But one good thing about Bittrex is the account verification happens quite fast.
Bittrex supports two types of accounts:
- Basic Account – withdrawal funds worth up to 3 BTC/day.
- Advanced Account – withdrawal funds worth up to 100 BTC/day.
Bittrex is a “crypto-only” exchange, meaning it doesn’t allow you to deposit fiat currencies such as USD, EUR, GBP, etc and their fee schedule is flat 0.25% for all.
They also provide access to advanced trading tools like candlestick charts and crosshairs, but the user interface is quite clean and intuitive, so newbies should have no problems.
Binance is a rapidly growing exchange that concluded its ICO a few months back.
Since its ICO to till date, it has grown tremendously and is now placed in top 10 Bitcoin exchanges in the world.
Though it is based out of China, it doesn’t serve its native country but is open to almost all countries around the world.
Binance being a centralized exchange has taken a unique take to expand its business and also provides a decent discount for day traders.
To get started with Binance you need to register using your email ID and the process is quite simple & fast. Moreover, you get 1 QTUM coin as a kind gesture for registration which is limited to 10,000 QTUM coins on first come first basis.
Binance’s fee structure is also unique. To start with they have 0.1% standard trading fee which is already quite less than other peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure. BNB is Binance Coin which is the native currency of this platform.
When it comes to trading volume and supported cryptocurrencies & trust, nothing beats Poloniex. Getting started on Poloneix is easiest as you can deposit any cryptocurrency or USDT (Tether dollars) & start trading.
The moment you setup your account, make sure you enable 2 step authentication before depositing any currency. The exchange supports Stop-limit orders to reduce trading risk. Have 5-minute, 15-minute, 30-minute, 2-hour, and 4-hour candlesticks. Charts are fully Zoomable to cover the complete market history.
If you are dealing in Altcoins, this is the best Cryptocurrency exchange for you.
Kraken is one of the largest Bitcoin exchanges in the U.S.A. Based in San Francisco, U.S.A., with Kraken you can also trade using other cryptocurrencies like Etherium & Zcash.
Getting started is easy & takes about 1-2 days for verification. This exchange is open for people around the globe & you can fund your account in various fiat currencies like USD, Canadian Dollars, Yen, and Euros (to name a few) & cryptocurrencies like Ripple, Litecoin, Dogecoin.
The first wire transfer will take many days which can be tedious for a new user. However, after the first successful deposit, things will be smoother.
Here is how the Kraken dashboard looks:
Overall, if you don’t mind waiting for a few days to get started with Bitcoin trading, Kraken is a great option.
This is another popular Bitcoin exchange that claims to be the first fully licensed exchange. You can buy bitcoins using your credit or debit card.
Their interface is prettier than Kraken, and they offer an iOS & Android app so you can trade from your smartphone.
- SMS price alerts
- High security
- 8% fees for credit card purchasing
- You can see their list of fees here.
A bank wire transfer typically takes 2-5 business days, and a SEPA transfer takes 1-3 business days to reach your Bitstamp account.
Bitstamp is best for traders who are looking for an advanced exchange for buying/selling bitcoins to make a profit.
Gemini is another great Bitcoin. Gemini is based out of New York City & also operates in North America, Europe, and Asia.
They offer individual accounts as well as institutional accounts. Their price is competitive & their interface is easy to use for beginners. I had a talk with their team regarding opening an institutional account & they are a very friendly company to work with.
If you are looking to open a corporate account for Bitcoin trading in the U.S.A, Gemini is a great option.
OKCoin is another Chinese Bitcoin exchange that lets you trade in USD. They have great support & an easy to use interface.
The verification process takes about 2 days & once you are all set, you can deposit money using a wire transfer. Wire transfer fees are 0% & they even offer a dedicated account manager.
You can also deposit money using PerfectMoney (with a 3% fee).
Huobi is 3rd in the list of popular China-based Bitcoin exchanges. They let you deposit funds using PerfectMoney in USD (with a 3% fee).
Overall, Huobi is a decent site, but there are better options that you should consider. Those 3% fees add an extra burden on traders. I hope they add more deposit options for USD in the future.
Coinbase is one of the U.S. popular bitcoin exchanges. They have one of the neatest interface & you can also use their iOS & Android app to buy Bitcoins or Etherium. The operate in many countries & getting started with them is easy. I have already shared a detailed guide on how to use Coinbase for buying Bitcoin over here.
Once you signup for Coinbase using the link below, you will get $10 bonus once you have done a transaction of $100. This is free money so you might not want to miss this offer. While Coinbase is good for buying & selling Bitcoin but if you are into trading, you need to go to GDAX for their official exchange. You can use your existing Coinbase login to get started.
As I said earlier, every day, new Bitcoin exchanges are coming online. We can expect to see more and more of them with even better features for end users like you and me.
One word of caution:
- Don’t use these Bitcoin exchanges as a wallet.
They are good for trading, but if you need to park your bitcoins, either use a mobile-based wallet such as MyCelium, or buy a hardware wallet like LedgerWallet or KeepKey. Any wallet that lets you store your coins offline is the best and most secure.
I will talk about securing your bitcoins in upcoming posts, but for now, let me know which Bitcoin exchanges you’ve used and what your experiences have been like.
If you find this guide useful, do share it with your network!