Top 10 Best Bitcoin Exchanges to Buy & Trade Bitcoin & Cryptocurrency 2019 list
Investors around the world are eager to trade in this rapidly-growing space, and a slew of cryptocurrency platforms have emerged to meet the need for infrastructure to support the exchange of digital currencies. These exchanges allow consumers buy, sell, and trade cryptocurrencies, whether through fiat currency like dollars, euros, or yen, or another cryptocurrency like bitcoin or ether. Less common cryptocurrencies, called altcoins, often must be traded against bitcoin and cannot be purchased directly with fiat currency.
Not every exchange supports every coin, and many investors use more than one platform. The law governing these exchanges vary widely based on location and the type of services each exchange offers. Some exchanges are unregulated, some are not available to customers in certain countries, and all are vulnerable to an ever-changing regulatory environment.
Other exchanges recently suspended service to Japanese customers following new guidelines issued by the Japanese Financial Services Agency. American exchanges are subject to state-by-state regulations as well as federal guidelines.
There is a dizzying array of offerings and options at exchanges. Though the space is hyper-competitive, each has a different fee structure, trading features, coins on offer, and security and insurance measures in place. Makers create more liquidity in the market and are often rewarded with lower fees and rebates. Perhaps most importantly, each exchange has a different compliance framework. Thus, it is important to read the fine print for each exchange, before registering to trade.
Founded in , Coinbase is a wallet, an exchange, and a set of tools for merchants, all built on the same platform. Most consider it to be the blue-chip among crypto platforms. Users can buy, sell, store, and trade tokens, and Coinbase partners with companies like Expedia, Overstock. Coinbase was one of the first exchanges to find mainstream popularity in the United States. The platform is easy to use and popular with beginners, and it now has more than 20 million accounts. In June, the company announced plans to enter the Japanese crypto market, and it recently acquired Keystone Capital in a bid to become an SEC-regulated broker-dealer.
In May, Coinbase also announced that it had acquired Paradex, a decentralized exchange platform that allows users to trade tokens directly between their wallets without the assistance of a third party.
The company plans to offer this service to international users before making it available to US customers. Regulation: Licensed to engage in money transmission in most US jurisdictions. Late last year, the IRS got Coinbase to agree to share user account information with it. Tax dodgers, beware. The platform offers very high leverage on trades, up to x.
BitMEX is unique in that it offers leveraged contracts futures contracts and perpetual contracts that are bought and sold using bitcoin rather than direct ownership of coins themselves. This means that even if users trade in altcoins, all profits and losses will be in realized in bitcoin.
Little regulation. Binance : multiple locations in Asia. It has both beginner and advanced trading modes, and while users are not currently able to exchange fiat currency for coins, news reports indicate that a separate but affiliated fiat-to-cryptocurrency platform, based in Malta, is in the works. Binance also supports its own token, the Binancecoin BNB.
Has been warned by regulators in Japan and Hong Kong. The platform also issues its own token, the OKB, which gives users a discount on trading fees, voting rights in the company, and other premium services like fiat trading and margin trading for verified traders. Will be subject to Maltese regulations following upcoming move. It is not available to US users due to regulatory uncertainty.
There are several versions of Huobi; the Huobi OTC platform allows consumers to trade fiat currency for digital tokens without any fees, while Huobi Pro offers an exchange platform that supports more advanced trading between cryptocurrencies.
Huobi recently announced HB10, a cryptocurrency ETF that will allow users to invest in a diverse basket of digital assets. Bitfinex, founded in and headquartered in Hong Kong, is also unavailable to US customers due to an uncertain regulatory environment. It has also been the subject of widespread scrutiny in recent months thanks to a high-profile hack and price-manipulation scandal. And late last year, Bitfinex and Tether, a stablecoin pegged to the US dollar, were subpoenaed by the SEC amid speculation that the reserve funds that were said to support the Tether stablecoin did not exist.
A research paper released this month suggests that Tether was used to manipulate the price of Bitcoin on the Bitfinex exchange. Bitfinex users are not required to verify their identities before trading cryptocurrencies, but they must do so to deposit or withdraw fiat currencies. Virgin Islands. Based in Seoul, Bithumb was founded in and is today one of the top cryptocurrency exchanges in South Korea.
Bithumb is a fiat-to-crypto exchange, and does not support crypto-to-crypto trades. The exchange only accepts local users who must use the South Korean Won for transactions. According to a Coinbase report , the XRP currency was targeted. Along with several other Korean exchanges, Bithumb was raided by the Korean government in January for alleged tax evasion, according to Reuters.
At the time, the government had announced plans to ban cryptocurrency trading, which it has since walked back. UPbit is another top South Korean exchange. It was formed through a partnership between Kakao Corp. The exchange is only open to Korean users. News reports in May indicated that UPbit was under investigation by the South Korean police for alleged fraud. According to Coindesk , UPbit was suspected of selling cryptocurrency that it did not hold to customers.
Users cannot trade with fiat currency nor connect a bank account, but they are able to purchase bitcoin on the platform using a credit card.
The exchange said it is in the process of establishing a licensed subsidiary in the Japan. Preparing to launch a licensed subsidiary in Japan. The trading platform has both simple and advanced interfaces and its website is available in both English and Chinese. It caters to Chinese customers. According to CoinMarketCap, the exchange hosts active markets. Bibox: China, with global operations centers. This Chinese exchange launched in and quickly grew.
In less than a year's time, Bibox is consistently on the list of top exchanges by hour trading volume. On the Kraken platform, users can deposit and withdraw funds using several fiat currencies, including the Euro, US Dollar, the British Pound, the Yen, and the Canadian dollar. An account must be verified before a user can begin trading. Founded in , Kraken is one of the earliest American cryptocurrency exchanges. Following the massive hack of the Toyko-based exchange MtGox, Kraken was appointed to assist in the investigation into the missing bitcoins, receiving claims, and distributing assets to creditors.
The company has stated that it remains committed to working with regulators. While the Coinbase platform is intended for newcomers to cryptocurrency and retail investors, GDAX is built to handle the needs of more serious traders. Gemini is the trading platform developed by venture capitalists Cameron and Tyler Winklevoss. It launched in and now provides services to customers in the United States, Europe, and Asia. Both individual investors and institutions can use the platform.
The exchange has a relatively small selection of coins but is known for its commitment to cooperating with regulators. As such, it does not offer short selling or trading on margin. Digital assets are held in a trust on the customer's behalf. Takers are typically charged higher fees, which in these exchanges generally hover around 0. Sarah Hansen Forbes Staff. Share to facebook Share to twitter Share to linkedin.
For Huobi pro users. Sarah Hansen. Read More. Purchase fees 1.
Cryptocurrency Trading and Exchange Solution
Everybody is making money in crypto these days, and I guaranteed that they are using the list below of the best cryptocurrency exchanges to do it. This guide will introduce you to top cryptocurrency exchanges and their advantages and disadvantages. A cryptocurrency exchange is basically a marketplace where someone can exchange or trade one cryptocurrency for cryptocurrecy cryptocurrency. These exchanges help crypto investors sell their coins quickly cryptochrrency easily when they are ready to cash. They also help people invest into other coins on the market through the act of trading, much like a stock exchange. In some exchanges, you can even exchange fiat for crypto or vice versa, but that depends on the type of cryptocurrency exchange you use.
Best Bitcoin Exchanges to Trade & Buy Bitcoin Cryptocurrency 2019 list
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The platform also accommodates those who want to create a full-blown exchange. Changehero is one of the easiest ways to get ahold of various cryptocurrencies. Bajrang January 9, at pm. The next option is P2P platforms like www. Though the platform was created in China and its language clearly caters to Chinese customers, there are no apparent restrictions limiting who can take part in the OTCBTC marketplace. For most digital currency investors, the centralized cryptocurrency exchange is one of the most important vehicles for transacting. Many of the best bitcoin exchanges to buy bitcoin are only recently online. Terms Privacy. But BitForex has to get credit for delivering a quality product, regardless of how it may have gotten a foothold excchanges the cryptocurrency exchange marketplace. Copy Link. But the more features and tokens the platform adds, the greater chance it will have to thrive.