In our recent guide on bitcoin trading for beginners, we answered most of the questions that come up for a beginner looking to invest in bitcoin and altcoins. Once you understand what bitcoin is and how it works, the next step is to buy some XBTs and watch it all come to life.
There are many bitcoin exchange platforms. But just so you know, many cryptocurrency exchanges are just ripping people off. So it is very important to choose a reliable bitcoin exchange.
With the list of the best cryptocurrency exchanges, you can buy bitcoin, but also popular alternative coins.
Bitcoin, a digital payment or exchange system called decentralized digital currency invented by Satoshi Nakamoto in 2009, is a popular investment theme worldwide. Everyone wants to invest in bitcoin to make a profit. Many still face the dilemma of whether this digital currency is legal or not.
Although bitcoin is not yet approved in some countries, it is still a very attractive digital currency. The legitimacy of bitcoin has yet to be established.
India is not completely abandoning the digital currency bitcoin, but concerns about its use, including the fact that it can be used to finance terrorism, should be noted.
Fear of selling:
Here are some well-known companies that accept bitcoins as payment:
Businesses in the private sector have begun to accept bitcoin as a means of payment. Here are some notable companies that accept cryptocurrencies as payment:
- Meal network
There are many other businesses that accept bitcoins as payment.
Before I present my list of the best crypto-currency exchanges, I highly recommend you read the following.
Many people start trading bitcoins without knowing the disadvantages. You need to know what could happen to your investment if bitcoin eventually becomes obsolete. Let’s look at the important points you need to know before investing in bitcoin:
- Bitcoin and other cryptocurrencies remain experimental digital assets.
- To date, bitcoin is legal in some countries and illegal in others. Read more.
- BTC is very unstable.
- You don’t have to buy any bitcoin. You can buy a fraction of a bitcoin of say 0.002 BTC or 0.25 BTC or any other amount.
- Bitcoin is subject to market risk, which means you can also lose your money (a rare possibility, but still possible), so you need to invest in bitcoin consistently. Its value may eventually become zero.
- Only invest what you can afford to lose.
- Don’t blindly follow the advice of experts, do your own research.
- Don’t become an impatient buyer. There is a large group of whales that create media assumptions and select influencers to influence individual investors.
First, let me clarify that there are two main ways to acquire BTC: Bitcoin trading and bitcoin mining. The same rule applies to other rooms.
Trading bitcoins is very simple. All you need to do is choose one of the best cryptocurrency exchanges, create a bitcoin wallet address, choose a bitcoin exchange, complete the KYC process, fund your account and buy bitcoins.
There are many crypto currency exchanges where you can buy, sell and store bitcoins securely. Beware of bitcoin trading scams, always choose a genuine crypto currency trading platform.
There are two types of trade: international trade and trade by country. You can buy bitcoins from any of them. To be safe, always buy from a reputable cryptocurrency exchange.
Mining bitcoins is somewhat difficult because you have to buy a bitcoin mining machine to help you mine them. When mining, you don’t buy bitcoins, you earn them. In the past you could use ordinary computers to mine BTC, but times have changed, the latest mining machines are here.
If you want to start mining bitcoins today, you need to buy special bitcoin mining machines, such as ASIC miners or a powerful computer with powerful graphics cards.
This method requires an initial investment and is willing to pay high electricity bills.
Mining bitcoins is a little more complicated than buying bitcoins. Therefore, if you are not a techie and just want to invest your money for higher profits, it is advisable to choose a bitcoin trading platform.
The best crypto currency exchanges take a small commission, say 1-2%, and they help you buy, sell and store crypto currency.
There are other ways to obtain BTC, which we will discuss in another article.
Currently, you can buy bitcoins from any crypto currency trading platform, including an international one, but if you have too many options, you will be confused. A simple Google search for the best cryptocurrency exchanges will show you hundreds of results, making it very difficult to choose a reliable exchange.
How do you know which crypto-currency exchanges are legitimate?
Does it look complicated?
Don’t worry, I’m going to give you some tips to think about before you buy bitcoin exchanges.
By performing this small but important task, you will avoid the problems that many novice cryptocurrency investors face.
1. Supported Countries
There are only a few international exchanges that accept customers from all over the world. So make sure the exchange you choose makes it easy to buy, sell and store coins. Some exchanges allow customers to store bitcoins in certain countries, but do not allow them to exchange their coins for cash.
For example, Coinbase, an international bitcoin exchange and one of the leading cryptocurrency exchanges, allows Indians to store supported cryptocurrencies, but buying and selling is not available to them.
2. Customs tariffs
Different scholarships have different cost structures. Always choose someone who charges a reasonable fee and offers uninterrupted service.
Essentially, crypto-currency exchanges charge three types of fees: Deposit fees, transaction fees and withdrawal fees. Rates can vary from 1% to more or less depending on the exchange rate.
3. Supported components and chips
There are exchanges that only offer a bitcoin trading platform, and some also allow you to trade alternative cryptocurrencies in addition to bitcoin, such as Ripple, Litecoin, Ethereum, etc. If you are considering investing in other currencies, make sure the exchange you choose supports the currencies you want to invest in.
4. Method of payment
It is very important to know how to add money to your wallet to buy BTC and how to transfer them to your bank after selling.
Payment methods vary from exchange to exchange. Some exchanges accept deposits via wire transfer, some only use crypto currency trading (exchanging one coin for another), some allow Paypal payments, and some allow credit and debit card purchases of bitcoins.
Most people prefer to buy bitcoins with Paypal or a credit card because these providers offer payment protection, but I don’t recommend that either.
This is because exchanges generally charge more for these methods than for bank transfers or cryptocurrencies.
Personally, I suggest buying by wire transfer or using cryptocurrency trading (but without making a payment until you receive your coins or using an escrow service) if you already own cryptocurrencies.
If you can invest money in your stock market, you can do so.
Safety is the most important factor that we should not ignore under any circumstances. Exchanges for cryptocurrencies, even large ones, remain vulnerable to hacking at any time, regardless of the volume of exchange transactions. Make sure your exchanger uses a secure HTTPS protocol so that your communications with its servers are encrypted.
It should also provide two-step authentication for secure connections and transactions. These are the basic requirements and without them you cannot be considered an exchange safe.
Tip: Therefore, security is paramount by avoiding exchanges that do not offer HTTPS and two-factor authentication.
6. Website/application interface and user interface
Its services must be easily accessible. Whether you’re a professional or a first-time buyer, make sure you have an intuitive web/app interface and a good user experience. You need to be able to place buy and sell orders quickly and easily.
Read customer reviews to know the quality of your crypto currency exchange.
7. Purchase and sale restrictions
The buying and selling limits vary according to the platform. For example, most exchanges allow you to buy or sell up to 20 bitcoins per day. Before you scale up your crypto currency platform, make sure it’s within your buy and sell limits.
8. Customer service
It is very important to know the response time of the exchange’s customer service. If you were stuck somewhere, he would be there to resolve your concerns and problems as quickly as possible.
I know of exchanges that take a long time to respond to customer requests. Avoid using a platform that doesn’t offer good customer service.
Also try to find out how long the exchange has been going on.
You are now trained and ready to buy your first item.
The above points will help you choose the best crypto currency to buy your first bitcoin or altcoin. To help you, I list the best crypto trading platforms in the world; reliable and used by millions of people.
- Coinbase is one of the leading cryptocurrency exchanges, a globally recognized platform for trading popular digital currencies.
- Binance is a well-known exchanger and the creator of Binance Coin. One of the ten largest cryptocurrency exchanges in terms of trading volume.
- LocalBitcoins is the best peer-to-peer exchange platform to buy and sell bitcoins at your own price.
- Kraken – A place to buy, sell, trade and learn about digital assets.
- Bitstamp – A secure place to trade popular coins with the lowest commissions.
- Bittrex is a secure, reliable and advanced trading platform for cryptocurrencies.
- Coinmama – The fastest growing bitcoin exchange with support for altcoins.
- Changelly – Trade over 150 coins through this platform and get coins at the best price.
- Reasonable compensation
- Protected portfolio
- High restrictions on buying and selling
- High liquidity
- Good customer service
- Large customer base
- Buying and selling is not possible in some countries.
Coinbase is a digital currency platform available in 102 countries where buyers and sellers can use bitcoin for financial payments. The company is one of the leading international bitcoin and altcoin trading platforms. The company was founded in 2012 and is based in Francisco, California.
Apart from bitcoin, there are other digital payment methods such as Ethereum, Litecoin, Ripple, Bitcoin Cash that you can invest in.
Its more than 30 million customers have traded more than 150 billion cryptocurrencies on its trading platform. This is really the best place to buy and sell popular cryptocurrencies.
The Exchange has also introduced an important initiative: an insurance policy. Its insurance policy covers its users in the event of a breach of its online storage.
To begin trading on Coinbase, you must provide your email address and contact information.
Reasonable rates, a secure portfolio, good customer service and a large customer base are all compelling reasons to use this platform.
Sign up to Coinbase using this link and get $10 worth of bitcoins for free.
- The largest stock exchange in terms of trading volume
- Good feedback from customers
- Protected portfolio
BINANSA is one of the largest cryptocurrency exchanges in terms of trading volume with over 1,400,000 transactions per second, trusted by millions. This global crypto currency trading platform supports over 100 crypto currencies.
You can use this platform to buy, sell and trade listed cryptocurrencies, including bitcoin.
The exchange also has a coin named after it, the Finance Coin (NBB). With a market capitalization of $46 million, the coin was among the top ten crypto-currencies.
After completing the KYC (Know Your Customer) process, you can place orders. This is the best platform for day trading.
Register with Binance using this special link and receive a 5% bonus for your transactions.
- Best peer-to-peer exchange
- Positive customer feedback
- An escrow service to protect buyers and sellers
- Simple web interface
- Only bitcoin trading is possible
LocalBitcoins is the world’s largest peer-to-peer exchange. It is a P2P exchange platform that connects buyers and sellers directly. As with other exchanges, you need to provide your login and email address to get started with LocalBitcoins.
They have a very simple and convenient platform to buy bitcoins. The swap has been around for over 7 years and has received very good feedback from customers.
From now on, you can only exchange bitcoins. I have been using this trading platform since 2014 and I think it is one of the best peer-to-peer exchanges.
It allows buyer and seller to communicate with each other to discuss the details, although you can negotiate with the seller.
The escrow service protects both parties and ensures that the buyer receives his BTC and the seller his payment.
- The best place for day traders
- Taxation of trading profits
- A reliable and trustworthy exchange
- Elegant web/application interface
- Deposits sometimes last more than 5 days
Kraken, a US-based cryptocurrency exchange, has been operating since 2011. Kraken has been cited as one of the best places to trade cryptocurrencies. You can exchange your fiat currency for the cryptocurrencies listed.
This platform is the best place to buy, sell, trade and even learn about cryptocurrencies. Whether you are an advanced trader or just a beginner, this fair is for you.
It has the best user-friendly interface and is easy to use.
Thanks to these strict security standards, you can safely buy, sell and trade coins, and if you wish, you can also store them on this platform.
The exchange is able to execute your buy and sell orders at the prices of your choice, allowing you to maximize your daily trading profits.
Kraken’s transaction fees range from 0.10% to 0.26%, depending on the transaction volume.
For daily traders, Kraken is a good option.
- Reduced fees
- Safety first
- Cash payment directly into your bank account
- Easy interface
- Premium service and dedicated 24/7 support
- Deposits sometimes last more than 5 days
Bitstamp is a one-stop shop for trading crypto currency. A proven track record is more than enough to convince someone to use this platform. This platform allows you to trade in popular crypto-currencies like bitcoin, XRP, Litecoin, Ethereum.
The trading platform is available to both retail and institutional clients.
You must register and verify your Bitstamp account before you can purchase bitcoins or alternative coins.
The exchange allows you to use your credit card, bank transfer or other international financing methods.
After you have sold your coins, you can have them deposited directly into your bank account.
- Secure platform
- Customized trade motor
- Rapid replenishment and absorption of resources
- 24/7 dedicated service and support
- Users have problems with account verification
Founded in 2014, Bittrex is an international cryptocurrency exchange that provides a safe and secure platform for trading digital assets. Bittrex is headquartered in Washington, DC.
An improved trading platform ensures that all orders are executed in real time. It partners with many international exchanges to make it easy for you to start trading crypto currency.
The wallet has a multi-level security system to protect your coins and personal information.
Traders (buyers and sellers) can set their own prices, the exchange finds suitable pairs for the orders placed and in return charges a small service fee.
Exchange has two different platforms: Bittrex and Bittrex International.
Two-factor authentication adds an extra layer of security to your account. All this makes it one of the best crypto-currency exchanges.
- Reliable and safe platform
- Available in 190 countries
- Rapid replenishment and absorption of resources
- 24/7 customer service
- High expenditure ceilings
- Buy with a credit card (not recommended, already discussed)
The cryptocurrency platform Coinmama is growing very fast. You can use this platform to buy digital currency from anywhere in the world. More than 1.5 million people worldwide trust this platform.
If you are looking for an exchange system with high spending limits, modern security and high speeds, you should give it a try.
Coinmama is able to execute your buy and sell orders instantly, which is very important for day traders.
To get started, simply create an account and provide the requested information. Then you’re ready to go.
Sign up now.
- More than 150 crypto-currencies to buy
- Available in 190 countries
- The best prices on the market
- 24/7 live support
- High expenditure ceilings
- Purchase via bank transfer
- Does not offer an e-wallet for coin storage.
The fair has been around since 2015. Changelly offers access to more than 150 crypto-currencies. It does not offer web wallets for customers, so you will need to create a wallet to receive funds before buying a coin on this exchange. You can create your free account wallet with a third-party wallet or software wallet, or you can provide the address of your hardware wallet to receive your coins.
Changelly is neither a trading platform nor a peer-to-peer exchange, but rather acts as an intermediary between cryptocurrency exchanges and users. This allows users to get the parts at the best price and allows dating sites to increase their sales.
It charges a fixed fee of 0.25% for its services.
Changelly is also the best crypto-currency exchange platform where you can easily exchange your bitcoin for another currency or vice versa.
These are some of the best crypto currency exchanges that I recommend to new investors. However, you are free to use the above tips to choose the right crypto trading platform for your needs.
The elements to consider when choosing an exchange are the following: Rates, deposit and withdrawal methods, security, customer service, privacy and coin availability.
I add this section on cryptocurrency security to all my knowledge-based articles. Why? Because that’s the most important part, and we can’t ignore it. Bitcoin itself is very secure, yet we still hear about cases of crypto currency theft.
This is not due to the security of BTC, but simply the lack of knowledge of cryptocurrency owners.
This is where most new traders/investors make mistakes. When it comes to the safety of your cryptocurrencies, you shouldn’t trust anyone. Take charge. Choose a suitable container to keep the parts safe. This step is very important and you should not ignore it.
The exchanges are currently using a very strict security system, but we can’t ignore the fact that they are still being hacked. Therefore, you cannot choose a wallet to store your coins in.
Yes, you can leave a few coins online for daily expenses, but leaving all your possessions online would not be a wise decision.
There are two main reasons not to use hot wallets (online storage of coins at a software wallet or exchange):
- First, the exchange is not secure.
- Second: You don’t have your parts if you don’t have their private keys. And most exchanges don’t share private data with their customers.
Where should you store your parts?
You can use a paper wallet, a software wallet or a hardware wallet to store the coins. If your investment is not very large, you can use a paper portfolio or a software portfolio. Otherwise, buy a hardware wallet to keep the coins safe.
Hardware wallets are small physical devices that keep cryptocurrencies safe. These devices cannot be hacked remotely.
Personally, I recommend a hardware crypto-currency wallet if you have coins that cost you three months. After transferring your coins to the hardware wallet, you can rest assured that your coins are safe.
Want to know more about hardware portfolios? Then read this post: The best hardware portfolios for crypto-currencies.
Recommended material portfolios:
That’s all for today. I am constantly updating this list to make sure you get the best exchanges that offer you safety, the best price, parts availability and excellent customer service.
Remember, having your own home office can save you a lot of trouble. By reading this article carefully, you would have learned how to choose the best crypto currency. To start, I’ve recommended the best cryptocurrency exchanges, but you’re free to search for more.
frequently asked questions
What is the best exchange to buy bitcoins?
… Buying and selling
Which crypto-currency exchange has the most coins?
What is the best crypto currency to trade in?
Find the best crypto-currencies….
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