Best exchanges of 2018
August 17, 2018 6:34 am,
What is a cryptocurrency exchanges?
If you know the concept of stock exchange, this virtual exchange will be easy to understand. Nevertheless, it is a place to buy/sell/trade cryptocurrencies. The ideal goal of an exchange is to give a fair platform for all people to invest in the currencies they wish. The exchanges make money in the small fee they charge for each transaction.
What makes an exchange good?
Many factors play a role here. But the 2 most important are reputation and security along with verification requirements, geographical areas, fees and payment methods. Few other factors are maker/taker transactions and ease of access.
The best exchanges
- Coinbase/GDAX: One of the most reputable and well known platform covering many regions. People who are looking at investing only in Bitcoin and other big players like Ether and Litecoin are available. The only condition is that you must deposit Fiat money in your exchange account before you order. GDAX is an extension of Coinbase which provides real time trading and functions more like the old fashioned exchange. Both of these use simple and clean UI, easy for any user.
- Poloniex: A reputable platform allowing people to invest providing a trade on margin as well which is a very big advantage. It has a great interface but few coins.
- Kraken: This is great for traders looking for complete set but only problem is the UI.
- Bittrex: US based exchange, great for traders who are looking to access as many altcoins as possible but traders try to minimise the fees.
- Binance: Hong Kong based suitable for traders looking for large number of coins and low fees. Only problem being is there be one eye on the Chinese regulations.
- Bitfinex: Most professional exchange and for serious traders, but not for people looking for large altcoin selection.
- Bithumb: Great for anyone with access to Korean currency else not recommended.
- Shapeshift: Unique and for traders looking for a complete decentralized approach. Not so great for traditional investors.
- Kucoin: Traders with access and want to trade with NEO, but not so good in terms of volume.
- Cobinhood: Alternative for GDX but not a complete platform.
- Coinone: For traders based in South Korea.
- IO: Advantageous for individual and corporate business as there is no limit for purchasing the Bitcoins. But there is high processing charge on credit card.