The year 2018 has been one of the best years for investors who put their money in cryptocurrency. The rise and rise of prices of Bitcoins and other currencies have generated a lot of interest even among ordinary netizens who want to try their luck with on digital marketplace. In the rush to buy and sell Bitcoins several exchanges have propped up where you can buy and sell not just Bitcoin, but other cryptocurrencies such as Ethereum, Litecoin and many more. Such exchanges are like your brokers in normal stock exchanges and they serve as the middleman.
Before you register at any cryptocurrency exchange, you should keep these things in mind:
1. Bitcoin exchanges will charge you transaction fees, which may differ from 0 to 1%.
2. You will have to upload several documents like your identity cards in order to get your account verified.
3. Unlike other currencies, Bitcoin and cryptocurrencies are 100% digital. So, don’t expect to see notes or coins in real sense. There are no physical Bitcoins!
4. Trading in Bitcoin and digital currencies is mostly unregulated. So, if you come from a specific country that does not recognise it as a tender, you could be in for trouble or you may have to pay higher taxes.
5. There are over 4,000 cryptocurrencies! And not every exchange allows you to buy all of them. So, choose an exchange which allows you to buy and sell the cryptocurrency you want to trade in. For instance: Ethereum and Litecoin have become very popular along with Bitcoin and most exchanges support trading with these digital currencies.
6. Look at the charges levied by an exchange. As you are aware that exchange also works for profits, you must read all the details like transaction fees, conversion fees, withdrawal fees and so forth. Pick the one that will give you a secure environment with maximum profit for yourself.
Now, here are the best and top three most-trusted Bitcoin exchanges for 2018. We ananlysed each of them based on their outstanding features and all you need to do is pick the right one for you.
Coinbase is the biggest Bitcoin exchange in the market right now.
We love: –
– the user-friendly and streamlined interface
– supports almost every currency in the world
– they also provide insurance protection to your money.
Started in 2012, Coinbase based in the United States operates and supports customers across 32 countries. With over $20 billion worth trading in Bitcoin and other cryptocurrencies like Ethereum and Litecoin, Coinbase is now the world’s largest exchange in the digital currency market.
The company also provides its clients mobile wallet, offline storage and insurance for currency that is stored on their servers.
Coinbase supports all popular currencies like British Pound, US Dollars, Euro, Hong Kong Dollar, Canadian Dollar, Australian Dollar, Singapore Dollar.
FEE: Coinbase takes 1% flat fee for every purchase. However, there are no charges for cryptocurrency deposits and withdrawals.
2. Gemini Exchange
Gemini is one of the few regulated exchange in the market.
We love: –
– their low trading fees
– they accept ACH transfers
– cool user-interface which is an instant hit even for a beginner
Based in the United States, Gemini Exchange is owned by the Winklevoss twins! Do you still remember that they successfully sued Facebook CEO and founder Mark Zuckerberg and got $65 million as settlement fees! Being a highly targetted exhange, Gemini Exchange caters mostly to US-based clients in addition to the United Kingdom, Hong Kong, Singapore and South Korea.
FEE: Gemini supports only US dollars for payment of fees while it trades only in Bitcoin and Ethereum currencies. However, the best part is that Gemini will not charge you for making a deposit or withdrawal. There is a low flat rate of 0.25% for every trades – both for a buyer and a seller.
STANDS OUT: Gemini, being listed as a limited trust company in New York, is regulated by the New York’s Department of Financial Services. So, you can be a bit more relaxed being in the company of an exchange that’s more traditional.
If you remember MinerGate, Changelly is for you. It is run by the people who created MinerGate.
– the exchange support lots of cryptocurrencies like Bitcoin, Litrecoin, Etherium, Dash, etc
– their fees are really competitive with .5% on every transaction.
– relatively new in the market
Changelly is a one of the best cryptocurrency exchange where you can buy almost every virtual currencies. You can buy and sell not so commonly heard currencies like Dash, Monero, Bytecoin and DigitalNote. So, if you are into ‘unpopular currency’ trading, Changelly is the place for you as they will be able to exchange your earnings into popular currencies for withdrawal.
FEE: Being relatively new in the market after making their foray into digital currency in in 2016, Changelly has a competitive exchange flat fee at 0.5% on every transaction. US Dollar and Euro are the preferred payment modes.
Why Changelly? Despite being a new entrant in the exchange market, Changelly already had years of bitcoin mining with their MinerGate.