- How do I know which crypto exchange is for me?
- Coinbase ranks as the best exchange platform with over 35 million traders.
The journey to buying cryptocurrencies starts with finding the best crypto exchange best suited for your specific needs. For that reason, we have divided cryptocurrency exchanges into different categories, detailing the best in each class.
Overall Best Exchange Platform
Coinbase has built a reputation for being not only the biggest but arguably the best crypto trading platform. Coinbase is renowned for its easy to use website and crypto trading platform. On Coinbase you can purchase cryptos with credit cards, debit cards, bank transfers, Paypal, and crypto.
They also offer brokerage services, which means people can buy digital assets directly from Coinbase, not other traders. Today, it is home to over 35 million crypto traders in over 100 countries.
Lowest Exchange Fees
Anyone looking to exchange cryptos with the lowest fees should consider Gemini. The New York, based exchange platform offers trading for the major cryptos including Bitcoin, Ethereum, Litecoin, Zcash, Cardano, and more.
For sales and purchases above $200, Gemini charges 1.49% on the brokerage service. However, if you utilize their exchange feature, fees are between 0 and 0.35%
On the Flipside
- It has been a period of mixed feeling for crypto exchanges.
- Coinbase recently announced that it has suspended trading for XRP.
- RevoluGROUP Canada Inc. has launched RevoluEX Cryptocurrency Exchange, an exchange that will let users convert major cryptos directly to fiat.
- RevoluEX Cryptocurrency Exchange launches with a PSD2 license which will allow users to immediately transfer and use their fiat proceeds anywhere in the world.
- U.K-based exchange EXMO said an estimated $4 million was stolen during a hack on December 21.
Best Advanced Altcoin Exchange
Kraken is the place to be for traders looking for an advanced exchange platform. It is a trustworthy exchange that has been around since 2011. Kraken supports many different funding options. Kraken offers support for over 20 digital assets and is available in over 150 countries.
In terms of fees, makers pay between 0.16% all the way to 0% while taker fees range from 0.26%-.1%. Kraken has a unique feature that gives up to 5x leverage on margin trading. When margin trading on Kraken, eligible accounts can borrow up to $500,000 to go long or short on an altcoin.
Best Social Trading Network
eToro leads the way as the best network for social trading. In addition to being an interesting altcoin broker, eToro offers a platform where users have the opportunity to interact with each other as they would with a social network like Facebook.
Where eToro leads the pack is in its Copy Trading one feature. Using this feature, traders can copy the trading strategy of others. They can automatically proportion, managing exposures and risk using Copy Trading one. As an extra bonus, there is a completely free and unlimited demo account where users can perfect their strategies before going live.
A Versatile Exchange
Every beginner or even pro traders should know about Binance. The sign-up process ranks among the easiest of all the top exchanges. In addition, Binance offers support for a whopping 175+ different digital assets for users in over 100 countries.
Relative to other major exchanges, Binance offers one of the lowest transaction fees. Users can fund their accounts with debit & credit cards, wire transfers, and ACH. As a bonus, deposits are absolutely free.
In a Nutshell
Many exchanges aim to support a particular type of client base and excel in offering services for that specific purpose. Before choosing a broker or exchange, you should consider the type of services you require.