When entering the Cryptocurrency market or leaving it you will at some stage have to use a Cryptocurrency Exchange. There is an ever-increasing number of exchanges available globally, with new entrants to the market appearing all the time. This short guide aims to show you what the top 10 Cryptocurrency exchanges are at present. This will allow you to make an educated choice when choosing what exchange to use to buy and sell Crypto.
Deciding which exchange to use can be difficult. There are pros and cons to each one, some are better for those living in a particular jurisdiction, others more suited to those who are holding a Cryptocurrency that is not heavily traded.
Here we go!
The Cream of the Crop
Poloniex – https://poloniex.com
This may seem like an interesting choice for number one but it’s a Cryptocurrency Exchange on an upward trajectory. Poloniex was one of the first exchanges to make it easy to trade Monero and Stellar Lumen. It facilitates trading in a wide range of currencies and US dollar Crypto pairs.
Its also very reliable and users of this Exchange have experienced very little downtime over the last three months, not something that can be said for every Exchange. Its daily withdrawal limits are sensible and its user interface very straightforward. Users gain access to detailed trend analysis and a lot of trading data.
The most exciting thing about Poloniex though was that it was recently acquired by Goldman Sachs backed Circle. Circle is a well-known peer to peer payments firm. Who knows what additional services the already excellent Poloniex will be able to offer over the next 12 months as the two firms are integrated.
Coinbase – https://www.coinbase.com
This may be number one for a lot of people. Coinbase is a huge Cryptocurrency Exchange based in the United States. It is the first point of call for many of those who are new to Crypto and its user interface makes it very easy for first-time market participants to use.
It has the advantage of allowing users to buy Crypto with a credit or debit card as well as by bank transfer. Very few Exchanges have this option. Both limits and liquidity are high, the market for Bitcoin is particularly active on this Exchange. Again, it offers a huge variety of Cryptos to choose from.
For those based in Europe, it also facilitates SEPA transfers which can be a great cost saving.
Bittrex – https://bittrex.com
Bittrex is another huge Crypto Exchange that is based in Las Vegas. It is similar to Coinbase with the Coinbase user interface perhaps slightly easier to use. However, for the more advanced trader Bittrex offers a really interesting feature.
Bittrex allows a certain amount of customization to facilitate users undertaking algorithmic trading. A real advance and something that is in line with the more traditional financial markets.
Supporting over 190 Cryptocurrencies, it again offers a great source of liquidity and fees which are broadly in line with the general market.
Kraken – https://www.kraken.com
Kraken probably would have been further up the list 12 months ago. Kraken is everything you would want from an Exchange and the technical detail available to traders is excellent. A nice user interface is complemented by reasonable fees and again it facilitates SEPA transfers.
However, it did experience some downtime at the turn of the year. During the major December 2017 trading period, it was a little slow and the promised technical upgrades were not delivered as quickly as some users may have wished.
Still an excellent option for traders and one worth having an account on.
ANX Pro – https://anxpro.com
Some may consider this an unusual choice for number 5. This Hong Kong based Crypto Exchange has a sizeable European user base after it took on the clients of a Norwegian Exchange some years ago. The user interface is very straightforward, the site rarely has down periods.
It may not have all the bells and whistles of other Cryptocurrency Exchanges, but the technical support is excellent. Even in the busy December period questions to this Exchange went answered within a reasonable time period, with all queries addressed.
The downside is that bank transfer fees to a lot of banks can be quite high. This company has its accounts in Hong Kong so something to consider if you are trading and withdrawing small amounts of Crypto.
Bitstamp – https://www.bitstamp.net
Bitstamp is the oldest Bitcoin Exchange out there founded in 2011. They have competitive transaction fees and a long track record for an exchange.However, the user interface is not as straightforward as other Exchanges and there are not as many payment options.
Still, a tried and trusted Exchange that has been around a long time.
CEX.io – https://cex.io
Established in 2013 as the first cloud mining provider, CEX.IO has become a multi-functional cryptocurrency exchange, trusted by over a million users.
The Exchange has developed a multi-level account system with an individual approach to each customer, from Bitcoin beginners to institutional traders. It offers worldwide coverage, multiple payment options, and 24/7 support.
Gemini – https://gemini.com
A solid Crypto Exchange with famous backers. The main downsides being it is very limited in what it does. It only accepts US dollars and you can only trade Bitcoin and Ethereum. No speculating in rare Altcoins here!
Cryptopia – https://www.cryptopia.co.nz
Founded in 2014 this Exchange is based in Christchurch, New Zealand. Cryptopia is notable in that the first level of verification happens very quickly, and only requires an email address for initial verification.
While Cryptopia does not support fiat money trading, it does support a large number of cryptocurrencies, over 400 to date! Not supporting fiat is clearly a big downside.
Revolut – https://www.revolut.com
This may seem like a strange entry, but it is one to watch. This digital bank now allows Bitcoin trading within its excellent app. The convenience and potential of the banking/crypto exchange functionality means that this option deserves a notable mention at least.
Probably one of the most interesting options in the future and potentially a very useful alternative for the casual Crypto trader.
Whilst there are a huge number of Cryptocurrency Exchanges out there this article aims to point you in the direction of some of the best.
They may not all be right for you, but this guide gives you a good grounding if you’re starting your search for a new Crypto Exchange.