Exchanges

BitExplorer

Your first step into the #cryptocurrency #world will most likely occur through an #exchange. There are two main types of exchanges that we will discuss in this g#uide.

The first type of #exchange is what most people call a #fiat #exchange. This an #exchange that allows the direct transfer of #US #Dollars, #Euros, and most #government-backed #currencies to be traded for #cryptocurrency.

The second type of #exchange are #cryptocurrency to #cryptocurrency #exchanges, that allow #cryptocurrencies to be traded with each other. The most common #pairings on these e#xchanges are #Bitcoin and #Ethereum. Crypto to #crypto #exchanges will be covered more i#n-depth on the second half of this page.

Here are the Top 10 Exchanges

RankLogoNameCountryComment
1Binance

www.binance.com

• Must have!
• High liquidity and competitive prices for bitcoins
2Changelly

www.changelly.com

• Secure and fast
• New markets added all the time
3KuCoin

www.kucoin.com

• crypto-to-crypto exchange
4Coinbase

www.coinbase.com

• Popular bitcoin exchange and wallet service
• Dollar deposits through linked bank account
5Gemini
www.gemini.com
• no margin trading
6GDax
www.gdax.com
• first registration at CoinBase necessary
7XAPO

www.xapo.com

• fees are medium
8Poloniex
www.poloniex.com
• Important for trading ALT Coins
9Kraken
www.kraken.com
• Professional exchange suitable for pro-traders
10Bittrex
www.bittrex.com
• Important for trading ALT Coins

You will need more than one Exchange!

Depending on what #cryptocurrency you are trying to obtain, you will need to use certain #exchanges. To get most #cryptocurrencies, you will need to use both #types of #exchanges. This is because #laws and #regulations around certain #cryptocurrencies make it #difficult for fiat #exchanges to sell them.

Each #exchange has different #pros and #cons, so the best exchange for one person, might not be the best for another.

You should consider a #number of things when #determining the
best #Bitcoin/#cryptocurrency #exchange for you:

  • How is the #liquidity? The higher the #exchange’s #volume, the better.
  • What are the #exchanges fees? The lower the better.
  • How is the #exchanges customer #support?
  • What trading #pairs are available?
  • How many different #payment options does it have?

 

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