Best exchange of cryptocurrencies: in-depth review for 2019

Cryptocurrencies have exploded in popularity over the past year, but it may seem complicated to start trading. There's a real plethora of cryptocurrency exchanges readily available – so what are those for you? The following guide lists some of the best cryptocurrant exchanges, as well as some specific details for each exchange.

What is an exchange of cryptocurrency?

An exchange of cryptocurrency is, in short, an exchange to buy, sell and exchange cryptocurrencies. This means that users can buy cryptocurrencies using traditional currencies, so-called "legal currencies" or other digital currencies.

Different exchanges of cryptocurrencies may offer different types of cryptocurrencies, may have different terms, policies, payment methods and fees. Furthermore, some cryptocurrency grants may have geographical restrictions.

In addition to this, some exchanges simply offer an experience that will be more pleasing to some people. Security, ease of use, functionality and design are all factors that can play a significant role in which the exchange adapts better. In general, cryptocurrency exchanges can be ordered in the following types.

A fiat exchange is a trading platform that allows users to buy cryptocurrencies using traditional currencies issued by the government, e.g. US dollars, euros or British pounds.

• Cryptocurrency to Criptovalute Exchanges (C2C)

This type of exchange facilitates the trade between the parties exclusively through the use of cryptocurrencies. For example, those seeking to exchange their holdings in Bitcoin for Ethereum can do so using a C2C exchange.

Coinbase

Coinbase of San Francisco is the most reliable cryptocurrency exchange platform in the world. The trading platform is available in over 32 countries and has a user base of over four million. The service also offers an intuitive and simplistic user interface,

In addition, users can choose between different methods to buy or sell cryptocurrencies. For example, the exchange of cryptocurrency offers users the ability to pay via PayPal, credit card, bank transfer or bank transfer. Exactly how purchases are made differ in some ways depending on where you live.

US customers who buy with a debit card or through a USD portfolio will immediately have these purchases available. For bank transfers for US customers, Coinbase uses so-called automated Clearing House transfers – ACH transfers in short – which is the main way to send funds with bank accounts. The ACH bank transfer usually takes three to five business days to process.

Customers from the EU can have their domestic currency stored in a Fiat Coinbase Wallbase account. This means that any purchase made with this – or with a debit card can take place instantly. Deposits to European clients' portfolios using so-called SEPA transfers typically take two to three business days.

This also applies to customers in the United Kingdom. However, deposits in a GBP portfolio with the use of credit transfers in GBP are generally completed within a single day. Canadian and Australian customers can also make instant purchases with the use of debit cards.

Coinbase is an excellent choice for those who get for the first time in cryptocurrencies. The service design is still easy to understand and user verification occurs within two business days. The platform also offers relatively low rates and is available for example in the United States, Europe, Canada and Australia.

CoinMama

CoinMama is a Bitcoin brokerage firm based in Israel. CoinMama works in a wide variety of different countries. Although not supported throughout the United States, it is still approved in most of the United States.

The ease of use of CoinMama is also significant, as virtually all new buyers will be able to browse the website. Furthermore, the exchange comes with one of the highest limits in the world for the purchase of Bitcoin with a credit card. Specifically, the site allows purchases of $ 5,000 worth of Bitcoins each day and up to $ 30,000 each month.

Beyond that, CoinMama is a generally reliable and reliable platform. The initial verification on the site takes about 10 minutes. Afterwards, all purchases will see Bitcoin delivered instantly. Bank transfer takes between two and five business days.

Generally, CoinMama charges an approximate 6% commission on all Bitcoin purchases made through the site. However, European customers can benefit from lower fees when making SEPA transfers.

However, rates are one of CoinMama's most significant drawbacks. Exorbitant fees for credit card purchases are something that users should pay close attention to. Furthermore, this platform is not particularly suitable for those looking to buy more cryptocurrencies than Bitcoin.

Coinsquare

Coinsquare is the largest cryptocurrency exchange based in Toronto, Canada. The cryptocurrency firm has over 100,000 user accounts active on the exchange and has over 90 employees.

Although Coinsquare started as a Bitcoin exchange, the platform was diversified and allowed to exchange other cryptocurrencies. Currently, Coinsquare allows users to purchase Bitcoin, Ethereum, Litecoin, Bitcoin Cash (both Bitcoin ABC and Bitcoin SV), Dogecoin, Dash and Ripple.

Coinsquare is generally considered a so-called "fiat gateway" where users buy mostly a small series of cryptocurrencies using legal currencies. Nevertheless, users are free to buy cryptocurrency using Coinsquare before moving their resources to another stock exchange if they want to buy smaller altcoins.

Objectives of Coinsquare for a response time of approximately one business day for the verification of accounts on the platform. In addition, electronic transfers are made manually and take approximately 1-3 business days for completion, with a 2.5% commission. This depends on the current backlog of requests addressed by Coinsquare.

Therefore, it may take three to six days for the funds to appear in user accounts. Coinsquare commissions depend on whether users make purchases through a "BitMaker" or "Quick Trade" transaction. Those who trade with BitMaker pay 0.1% of the fees if they add liquidity to the market (maker) and 0.2% in commissions if they place an order that removes liquidity (taker).

If a user trades Bitcoin with another currency, he will pay 0.2% of the fees. However, if a user exchanges an altcoin for another altcoin, a fee of 0.4% will be charged.

LocalBitcoin

LocalBitcoins is a popular Bitcoin peer-to-peer exchange from Finland. Basically, this escrow service works through the pairing of Bitcoin sellers with Bitcoin buyers. Users on the platform can create open announcements and messages with potential customers.

LocalBitcoins is exceptionally easy to use and is, therefore, often a gateway of sorts for those who start exchanging Bitcoins. Furthermore, the service has a solid reputation and is accessible in a large number of countries.

After creating an account, LocalBitcoins allows users to search for Bitcoin providers in their country or area. Furthermore, this search can be perfected with criteria such as payment methods, seller position or identification requirements.

As a result, LocalBitcoins provides an exceptionally fast and easy way to purchase Bitcoin which can also be secure. If the two parties decide to meet in person, the person will not ask for any personal information.

Bitcoin transactions on LocalBitcoin are completed within 10 to 60 minutes. Also, checking your account does not take long, usually in a few minutes and a day.

However, it is worth pointing out that LocalBitcoins has been plagued by some scams, so users should be vigilant. In addition, it is quite difficult to buy large amounts of Bitcoin compared to large exchanges. Finally, prices are slightly higher than those of normal exchanges.

Binance

Binance is one of the most popular cryptocurrency exchanges in the world, despite being a relatively new player. This platform was originally based in China, but has moved its operations to Malta at the start of this year. Binance is a cryptocurrency-to-cryptocurrency trading platform, which means it does not have fiat support.

Binance offers users the choice between cryptocurrency trading with basic or advanced trading. However, it should be noted that neither of these two options presents the user with an easy-to-use system.

This makes Binance unsuitable for those who are completely new in cryptocurrency trading. However, the advanced option offers users more in-depth analysis and technical analysis of the various digital currencies over time.

Those looking to use Binance will first have to create an account first. Users who are satisfied with having a level 1 account – which is limited to a daily withdrawal limit of 2 Bitcoins – should not verify their accounts.

Those, on the other hand, who wish to have a Level 2 account – able to withdraw daily up to 100 Bitcoins – must present a photographic identification document and wait for approval.

How long the verification process depends on how busy the site support staff is, so it depends in some way on the traffic. The candidate who will apply will receive an e-mail once the verification process is complete. In addition to the two levels mentioned above, even higher levels are available for those who reach Binance directly.

Huobi

Last but not least, the Singapore-based cryptocurrency exchange, Huobi, has long been a favorite in the Asian markets. In addition to its main office in Singapore, Huobi has offices in Hong Kong, Japan and South Korea, as well as a single office in the United States.

However, Huobi had to face some difficulties related to US regulations. However, Huobi operates in over 130 different countries, including China, Hong Kong, Taiwan, Korea, Japan, Germany, the United Kingdom and Canada.

Those who register with Huobi are required to provide their nationality, as well as an email address or telephone number. Once the user has verified the email address entered, the person will be able to purchase the Huobi cryptocurrency OTC service using Chinese yuan, Singapore dollars or US dollars. Otherwise, users can also transfer some cryptocurrencies they already own in the exchange.

Huobi also offers over 40 USDT pairings, around 100 BTC and ETH pairings on its site. The platform also offers a fairly complete overview of the cryptocurrency market. However, this can be quite daunting for those new to cryptocurrencies. All maker and taker expenses on Huobi are around 0.2%. In addition, site verification typically takes only a few minutes. The main drawback of the Huobis site is, however, that it lacks a little bit in ease of use.

Gemini

The exchange of cryptocurrencies in New York, Gemini, is perhaps best known for being the property of the Winklevoss twins – of renowned Facebook. Gemini has differentiated itself from other cryptocurrency trade by supporting a regulated approach.

More specifically, the exchange supports support for Bitcoin, Ether and the US dollar. The platform is fully available in the United States, Canada, Hong Kong, Singapore, South Korea and the United Kingdom.

Deposits on the platform can be completed via a traditional bank transfer or an ACH or SEPA transfer. In addition, the platform usually processes transfers sent before 3:00 pm New York time on the same next business day. However, this estimate may vary slightly depending on the user's bank.

Bank deposits are processed immediately. In addition, these are fully liquidated by Gemini and made available for collection within approximately 4-5 business days.

The main strengths of Gemini are the regulated nature of the exchange, which gives it substantially reliability. In addition to this, it also presents some of the lowest taxes in the United States. That said, the exchange is not available in all countries and may even confuse beginners in cryptocurrency.

OKEx

OKEx is a cryptocurrency exchange that offers various trading tools. However, OKEx relies heavily on more professional cryptocurrency investors. This makes OKEx a choice that is not ideal for those entering cryptocurrencies.

OKEx is the second largest cryptocurrency exchange in the world – in terms of volume – and has recently moved to Malta. OKEx is available in most countries that do not restrict their citizens from trading platforms or countries listed in the UN Security Council sanctions list.

The process for creating an OKEx account is relatively simple. The platform also offers different levels of verification, with different requirements and functions. Users who are satisfied with Level 1 verification must provide the country of origin, user name and ID number. Level 1 verification will allow them to trade with a daily transaction limit of $ 2,000.

Those looking to trade more than that will need a Level 2 check. This includes a photo of the user and his / her identification. This, in turn, will earn a transaction limit of $ 200,000 per user. There is also a third level, which requires a video verification of the user's identity and offers the user a transaction limit of $ 500,000.

Poloniex

Poloniex is a cryptocurrency exchange based on Delaware that has been around since 2014. In addition, Poloniex recently made some waves when the exchange was acquired by Goldman Sachs' Circle lawyer.

In addition to this, Poloniex is generally geared towards somehow expert cryptocurrency traders. The layout and user interface of the cryptocurrency exchange clarify that this is not a platform suitable for beginners of cryptocurrency.

This is also evident from the fact that Poloniex only supports cryptocurrency-to-cryptocurrency trading. As a result, it is impossible to file legal currencies on the platform or buy cryptocurrencies using the fiat.

Nevertheless, only the cryptocurrency-cryptocurrency trading also means that Poloniex is legal in a large number of different countries. The exchange also has a large number of different trading pairs – as many as 97 of them.

Poloniex has faced some verification problems in the past, but it should be noted that these have been inconsistent. This suggests that the verification problems faced by some may depend on the traffic load on Poloniex at that time.

However, it should be noted that Poloniex has been accused of poor customer service. In addition to this, the site also struggled with the decline of community trust.

Bitstamp

Bitstamp is one of the most popular cryptocurrency exchanges in the world. This exchange has been running since 2011 – an eternity in the world of cryptocurrencies – and is originally from Slovenia. Today, however, the exchange of cryptocurrencies has multiple locations, such as in Luxembourg and New York.

In addition, the Bitstamp exchange is quite easy to use for both cryptocurrency enthusiasts and beginners. The platform has a linear design, constantly updated price tables and has a & rs; mobile app for iOS and Android.

Also the verification on Bitstamp is quite fast. It usually takes a day to be verified on the site – however these times have changed in the past. In fact, due to the "extreme demand", some people have not been verified for a whole month.

The credit card transfers to the site are instant. Bank transfers typically take between two and five business days, while a SEPA bank transfer requires one to three.

Beyond that, Bitstamp has one of the lowest commissioning systems of all cryptocurrency exchanges. The platform has a 0.05% fee for international transfers and imposes a 0.09% commission on international withdrawals. The minimum deposit is $ 7.50 or € 7.50, while the minimum withdrawal is $ 50 or € 50.

In addition, monthly trading volumes of less than $ 20,000 are subject to a trading fee of 0.25%. However, for trading volumes higher than those, up to $ 20 million per month, commissions drop up to 0.1%.

Bitsquare

Bitsquare is an exchange of cryptocurrency that differs in some ways from many others, in the way it is decentralized. This means that users can exchange cryptocurrencies and legal currencies through an open source P2P system that can not be hacked. Furthermore, this also implies that the exchange of cryptocurrency does not manage the funds themselves.

Anyone can download the Bitsquare application and users should not provide Bitsquare with confidential information to create an account. For example, it is not necessary to present identification, a copy of the passport or even the legal name to start trading on Bitsquare.

The Bitsquare user interface may seem a little complicated for those new to criptovalute trading. Furthermore, the notion of decentralized cryptocurrency may seem foreign. However, it is worth pointing out that those who have truly embraced the decentralized dream will hardly find a better alternative on the market.

When a user wishes to conduct an exchange on Bitsquare, he is connected to a respective seller. They are therefore both required to make a deposit of 0.1 Bitcoin, as a form of participation fee. Trading fees are always set at 0.001 BTC and the maximum trading volume is 1 Bitcoin.

In addition, the platform presents a myriad of altcoins in addition to Bitcoin. Because it does not require a traditional form of verification, users only need to download the application. The transactions with Bitcoin require about 10 minutes on average. Different countries have different time intervals before an exchange, if no confirmation has been received, it is discarded and passes to arbitration.

Kraken

Kraken is one of the oldest exchanges of cryptocurrencies that are still in circulation. In addition, it is also the largest cryptocurrency platform denominated in euros in the world, according to the volume of daily trading exchanges.

In addition to this, the exchange has support for deposits from a wide variety of different countries. Specifically, customers in Europe, Canada, Great Britain, Japan and the United States can exchange crypto using Kraken.

Deposits to Kraken are made by bank transfer, SWIFT, SEPA payments or through bank deposits (for Japanese customers only). The exchange is also widely trusted, has sound finances and is highly valued for security.

Beyond that, the platform also has a low withdrawal fee of 0.25%. Moreover, this can fall to 0.1% with a high trading volume. The volume of the producer is also low and can reach 0% if the volume of trade is high.

It can take up to 60 minutes to be verified on Kraken. In addition, SEPA credit transfers, international wire transfers in EUR and US domestic transfers take one to five business days to complete. CAD bank transfers can take anywhere from one to seven business days.

However, there are some disadvantages of Kraken. The cryptocurrency exchange has a rather complicated user interface. This means that it may not be suitable for those who buy cryptocurrency for the first time. It also requires users to show their ID to verify their account.

shapeshift

The exchange of cryptocurrencies in Switzerland ShapeShift has been operating since 2015 and is one of the most popular instantaneous exchanges in the world. However, ShapeShift has no support for legal currencies.

Rather, ShapeShift aims to allow those investing in cryptocurrencies to exchange between different types of altcoin. This means that the platform can be quite difficult to navigate and understand for those new to cryptocurrencies.

However, being an "instantaneous" exchange also means that the user can, for example, exchange his Bitcoin for Litecoin extremely quickly. However, operations can also be dragged in some cases. Furthermore, the rates can be very low if users correctly execute their operations. This is due to the fact that the commissions vary on the Swiss stock exchange.

Check on the platform it is also almost instantaneous. Furthermore, an exchange can take between only 30 seconds and up to several hours. Users are advised to contact the ShapeShift support team if an exchange has not been completed after 48 hours.

It should be noted, however, that some users have complained online that they have had difficulty with ShapeShift. There are stories of funds that have disappeared and the site has a lack of transparency around the time of deposit. It is also worth stating once again that the site does not have support for Fiat currency purchases.

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