On March 17, 2010, the first Bitcoin exchange, Bitcoinmarket.com went live to track Bitcoin price At first, the exchange used PayPal as a method to buy Bitcoins. However, as a result of evergrowing frauds and scams Bitcoin market discontinued PayPal trading.
Nine years after the launch of the first Bitcoin exchange there are over 500 crypto asset exchanges with 208 of them listed on Coinmarketcap. They track all types of coins; from Bitcoin to Bytom.
As a result, it can be hard to navigate in the crypto exchange world both as a newcomer and an experienced investor.
So let’s go over 5 of the best crypto exchanges right now!
Available: 103 countries
24h volume: $401 million
Trading fee: 0.25%
Coinbase Pro was launched in 2012 and has its headquarters in San Francisco. This crypto asset exchange is famous for its security, user-friendliness, acceptance of various payment forms and mainstream adoption.
It is very fitting for professional traders, has competitive fees and is fully regulated in the US.
However, Coinbase Pro has a very limited selection of crypto-assets on their platform, it is only suitable for individual accounts and isn’t beginner-friendly.
Available: over 100 countries
24h volume: $2.5 billion
Trading fee: 0.2%
Founded in 2018 in Malta, OKEx is currently the world’s largest crypto coin exchange with a volume of over $2.5 billion. It supports over 145 crypto-assets and is full of many amazing features.
OKEx accepts multiple payment methods such as crypto-asset transfer, bank transfer, Alipay and more.
However, the exchange still doesn’t have an application available for users and futures trading is specifically for experienced crypto investors.
Available: 190 countries and regions
24h volume: $2.48 million
Trading fee: 0.1%
Binance is a widely popular crypto exchange that was originally based in China but has recently moved to Malta. Although the exchange is fairly new, it managed to gain popularity in a short period of time.
The exchange has over 400 trading pairs; however, there are no fiat currencies available. Due to the liquidity of Binance the liquidity is also high.
However, Binance withdrawal fees are quite inconsistent.
Available: All countries except Afghanistan, Cuba, Iran, Iraq, Japan, North Korea and Tajikistan.
24h volume: $242.6 million
Trading fee: 0.26%
Kraken is a crypto-asset exchange based in U.S.
Founded in 2011, this crypto exchange has a long track record, various fiat/crypto pairs and strong security. Kraken is available for users from the US, Canada, Japan and numerous European nations.
On the other hand, many customers have complained about the slow customer support, payment methods are limited and the exchange isn’t suitable for newcomers.
Available: 52 countries
24h volume: $434 million
Trading fee: 0.2%
Bitfinex in a crypto-asset exchange based in the British Virgin Islands. This exchange is famous for being a BTC to USD/fiat and margin trading exchange as well as a liquidity provider.
The advantages of Bitfinex include unlimited withdrawals, various payment options and a mobile application.
Despite all of this, Bitfinex isn’t recommended for new investors and the fiat currency deposits are complicated.
In conclusion, all these crypto-assets have their unique features and are suitable for different types of investors. At the end of the day, it’s just a question of personal preference and what the investor values most in a crypto exchange.