The 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 sitesusually have many options for buying bitcoin with government issued currency and altcoins.

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 pagefor future reference.

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 storage 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, Kraken, 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. Poloniex is the large amazing option. It’s a really good platform and the user-interface has gone through a complete redesign. Things feel smooth when using Poloniex. 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, Poloniex, and Changelly, are great options worth checking out. Some even offer short selling on major coins. You may also like to check the market 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/bitcoin.

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

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

Cex.io

CEX is one of those international bitcoin exchanges accepting euros, British pounds, US dollars, Russian Rubles, and Ethereum. Needless to say, CEX is very popular within those 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. With the best security practices, a modern and simple user interface, and both bank transfer & credit card purchases, CEX is indeed a good European alternative to Coinbase.

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

Poloniex.com

Poloniex definitely is the best cryptocurrency exchange. Why? Well firstly because of the sheer amount of users that flock here to trade their altcoins. 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. Secondly, 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.

Pros

• The most popular crypto exchange
• Good margin trading (up to 4x) available on largest altcoins
• One of the best trading interfaces for mobile and desktop browsers
• Has the best volumes for all major altcoins including Ethereum.

Cons

• Not possible to deposit fiat currency

Kraken.com

Kraken is becoming a reputed bitcoin broker, with many markets served. Europeans love it just as much as Americans because they work well through SEPA, have an easy verification process, and are very knowledgeable when it come to cryptography and security. As of early 2017, Kraken has been re-positioning themselves as a crypto exchange by adding multiple new altcoins.

Pros

• Cryptographic communications
• Cheapest rates for trading, depositing and withdrawing
• works well for Europeans and North America

Cons

• Site not as visually intuitive

Bitsquare.io

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

Buysomebitcoins.com

BuySomeBitcoins is a recent addition to my list. Why have I included it here? Well, so many of my readers were asking where to buy bitcoin without ID verification. Here is the best place to do exactly that. Although BuySomeBitcoins is small, with just above 150,000 monthly visits, it is growing fast and gaining reputation for being one of the only sites to offer credit card purchases without requiring ID submission. Note that BuySomeBitcoins do also offer users to voluntarily verify their identity in exchange for a more reasonable fee structure.

Pros

• No identity verification
• Credit card purchases

Cons

• Fees are higher if you choose to stay anonymous

Bitstamp.net

Bitstamp are big in Europe and operate since 2011 out of the United Kingdom. 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.

Pros

• Card purchases available (visa mastercard and visa) in Europe and the USA.
• HQ Located in London
• Good for large transactions

Cons

• Not available outside of EU and the USA

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!

Wesellcrypto.com

WeSellCrypto was first a Dogecoin selling service in 2014. The admins then very correctly predicted that the market would rapidly need a PayPal to bitcoin exchange. Since, WeSellCrypto has offered simple and small purchases of Bitcoin using PayPal. WeSellCrypto may be perfect if you only need small amounts (under 100 USD), as they have several verification tiers which make it really easy to buy, in certain cases without verification.

Pros

• The simplest site for buying Bitcoin with PayPal
• No verification needed for small weekly purchases
• Trusted operators that have been active in the community since 2013

Cons

• As with all PayPal exchanges, fees are very high.

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
• p2p (person to person) – similar to Localbitcoins

Cons

• Higher fees than elsewhere