If you are looking for a reliable and trustworthy cryptocurrency exchange to trade your coins, here are 7 ideas for you to check out.
- Binance
- Kraken
- Coinbase Pro
- BitMex
- Huobi
- BitFinex
- LocalBitcoins
Binance
Binance is one of the newest cryptocurrency exchanges on the market but is has quickly grown to be one of the most popular ones. It was founded in 2017 in Hong Kong and today it has offices in major Asian countries such as Japan and China and its head office is located in Malta.
This exchange supports about 130 cryptocurrencies, works worldwide and has interface available in many languages. Binance offers two types of accounts. The first one doesn’t require any authentication and allows trading after registration but sets limits for withdrawing funds and buying coin using fiat currencies. To use the full functionality, you will need to verify your identity to the exchange, and this will give you the ability to trade without limitations and use your credit or debit card to buy coins.
Binance also has a special security fund called SAFU that is used to compensate the losses from hacker attacks to the traders.
Kraken
Kraken is one of the oldest cryptoexchanges based in San-Francisco, California in 2011. It offers wide functionality and a range of additional services which makes it extremely popular. On Kraken, aside from traditional trading, traders can benefit from spot trading, futures trading and margin trading, which is quite rare. It also supports fiat trading on high levels of user authentication.
The exchange offers overall 19 cryptocurrencies and 5 fiat currencies available for trading worldwide except for some Asian countries.
Coinbase Pro
Coinbase Pro is another San-Francisco-based exchange that has been around since 2012. It is easy for beginners, available in over 100 countries and accepts the most popular fiat currencies. It supports 7 cryptocurrencies and allows multiple trading and deposit options.
Coinbase Pro is said to be one of the most secure cryptoexchanges. As of January 2020 it has successfully defended from several coordinated hacker attacks and claims to be “hackerproof”. As for the personal trader’s security, Coinbase Pro requires its users to go through two-factor authentication procedure before performing any transactions with their wallets.
BitMex
BitMex is one of the largest exchanges in terms of Bitcoin daily trading volumes. BitMex stands for Bitcoin Mercantile Exchange because it uses Bitcoin to account all trading transactions and deposits within the platform. However, it allows trading 7 highly liquid cryptocurrencies and offers many trading options such as 100x margin trading, futures trading, etc.
BitMex, however, doesn’t support fiat currencies and doesn’t require its users to undergo two-factor authentication, which may be crucial for traders who want to ensure complete security of their operations.
Huobi
This Singapore-based cryptoexchange was started in 2013 and due to its fast development, it is now one of the largest exchanges in terms of trading volumes. Registration is available for most countries in the world without the need to verify the user’s identity.
Huobi is good for beginners, is available in multiple languages, supports up to 250 cryptocurrencies, holds a reserve fund to cover damages from hacker attacks and offers lots of trading features along with competitive prices.
BitFinex
BitFinex is located in Hong Kong and operates since 2012. It features 96 crypto- and fiat currencies that make up to 296 trading pairs. BitFinex is known for its professional and caring approach to its users and constantly offers new features like convenient mobile app, lots of trading features, different wallet types, etc. Its daily trading volume exceeds 45,000 BTC, which demonstrates its popularity.
This exchange has a minimal enter limit of $10,000 which makes it not suitable for most beginners. BitFinex’s fees are also quite big, but traders worldwide consider it a good price for all the technical features available here and the high level of security and attention to details this exchange has to offer.
LocalBitcoins
LocalBitcoins is a Finnish Bitcoin exchange that allows peer-to-peer Bitcoin transaction between the users. It is considered one of the most secured Bitcoin exchanges because LocalBitcoins itself serves as a grantor and escrow-agent during the transaction. It also offers convenient rating and feedback systems.
The commission for exchanging is 1% from the transaction amount and is only payable by the seller.