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Best Bitcoin Exchanges
When it comes to finding the best bitcoin exchange things are not all that easy. Why is this so? Simply because many of the best sites to buy bitcoin are rather recently online. This means that they have had little to get the word out about their services and products.
Most people coming to this page will be asking how to buy bitcoin online through a secure means.
Well, here is a good starting point. Let’s see how.
First thing to consider when looking for the top bitcoin exchange is how safe are the website and server. This boils down to asking: is it a trustworthy exchange providing transparent data of coins in cold storage (more on this later) and are customers happy? It’s also good to lookout for which currency pairs are available: are you looking to trade bitcoin for USD, Euros, or other fiat currencies. The location usually gives an idea of what’s on offer. However, the largest bitcoin sites usually have many options for buying bitcoin with government issued currency and altcoins.
Best Bitcoin Exchanges
The sheer complexity of researching where to trade bitcoin led me to make this blog. Although you should always do your own research before investing, I hope this helps. Below is the table of the best exchanges to buy bitcoin online. If you are new to cryptocurrency exchanges then lookout for the ‘beginner-friendy’ column.
Secure exchanges that are trustworthy and have good user ratings will rank higher than their peers. Extra points are given for sites to buy bitcoin with paypal, as many users request this feature. Ranking preference is also given for sites to buy bitcoin with credit card. Check out each option on the following best bitcoin exchange list. Be sure to bookmark this page for future reference.
The best bitcoin exchanges in 2017
Coinbase.com
Coinbase combine an attractive interface, a great site to get bitcoins with a debit card, and multiple online wallets for your digital currency. Over 4,800,000 users are signed up, including 45,000 merchants, and 9000 developer apps. Works well for European, American, & Canadian customers. I’ve also written a comprehensive Coinbase review for more detail.
Pros
Really easy to use
Lots of long-time customers
Online wallet available
Cons
Slightly more work needed when verifying account
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
Popular in most countries
Cons
May take longer to conclude transaction
Risks associated with anonymous transactions
Some bank accounts have been suspended after receiving money
Cex.io
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
Warning Kraken is no longer listed here due to persistent UI and trading engine issues. Kraken once worked well through SEPA, had an easy verification process, and was 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
Cryptographic communications
Cheapest rates for trading, depositing and withdrawing
Worked well for Europeans and North America
Cons
Increasingly severe issues with Kraken trading engine, page timeouts, generating new deposit addresses
Recently disabled stop-loss and other trading features without giving explanation to the community
Site not as visually intuitive
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
Incredibly advanced (technologically)
p2p AND decentralized
Trusted escrow system for bank transfers
Cons
Advanced level of IT comprehension needed
GDAX.com
GDAX is great for technical traders and offers good 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
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
Cons
Higher fees than elsewhere
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 bitcoin 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!
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
Poloniex.com
Poloniex was once the best cryptocurrency exchange. Why? Well recently customers have been migrating to Bittrex following reports of withdraw problems on Poloniex. Nevertheless Poloniex has been 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 7 million monthly visits in February 2017 to 30 million in May 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
The 2nd most popular crypto exchange, after Bittrex
Margin trading (up to 4x) available on largest altcoins
One of the best trading interfaces for mobile and desktop browsers
Has the large volumes for all major altcoins including Ethereum.
Cons
Loosing significant customer-base due to reports of user withdraw issues and lack of customer support
Not possible to deposit fiat currency
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
Great and functional user experience throughout the site
Up to 100x leverage
Cons
With such high leverage it’s easy to overlook implied risk factor