Cryptocurrency, a digital asset is here to stay! Slowly and steadily cryptocurrencies are getting more popular and why not? A decentralized digital money is better than inflated Government policies. There are many people trading in bitcoins and another cryptocurrency. And if you have decided to invest in Cryptocurrencies, then this is for you!
Before you invest in cryptocurrency, you must know about risk factors involved in virtual cash. Well, for beginners investing in cryptocurrency is very confusing. How to invest and from where to invest? Which is the best cryptocurrency exchange? So, today, we will let you know how to get started with digital cash and how to trade!
What kind of Exchange is best for you
There are two types of cryptocurrency Exchange:
1. Fiat Exchange
This is the most common types of exchanges people use. Fiat Exchange is best for beginners and for people who want to play it safe. Fiat exchanges allow you to buy cryptocurrency with dollars, euros, pounds, etc. It has gone traditional payment system like a credit card, Internet banking, and cash. Fiat exchanges are the best way to enter into the cryptocurrency world.
Also known as Altcoin exchange. It does not deal with traditional payment methods. In pure exchange, you will have to deposit cryptocurrency first!
Best cryptocurrency Exchanges 2018
Now, you are familiar with types of exchanges let’s look at some of the best cryptocurrency exchanges you can opt for!
It is the largest Cryptocurrency Exchange! Binance requires you to deposit cryptocurrency to start trading! It has very low fees, just 0.05% per trade. Once you have purchased Bitcoin, Litecoin or Ethereum you can use Binance to convert it into any altcoins! Binance is rated as #1 exchange for the following reasons:
- It offers a mobile app for both Android and iOS users. The app is free to use.
- It has most volumes and you can trade any cryptocurrency.
This is a great option for beginners! Coinbase is a good way to get into cryptocurrency, especially if you are trading for the first time. Coinbase has a very clean interface which makes it easy for users to purchase Bitcoins, Litecoin or Ethereum! Most of the cryptocurrencies can be purchased only with bitcoin or ether but Coinbase gives you the liberty whether you want bitcoin or any other cryptocurrency.
It lets customers from the USA, Canada, UK, Australia, Europe, Singapore buy with traditional payment methods like a credit card or bank account. The fees for buying a virtual coin with a credit card are 3.99% and for bank transfer, it is about 1.49%.
This is a perfect exchange for a quick transaction. Change is a suitable option for beginners. It is a unique exchange which does not require you to deposit any coins. You just have to tell Changelly which coin you want to purchase and how much. The entire process is very fast and easy. It is a super fast way to exchange cryptocurrency since you do not need to wait for your deposit!
With Changelly you don’t need to go through a lengthy verification process! You just need a valid email ID and you can start trading! Currently, it supports around 35+ cryptocurrencies! It also supports fiat pairs such as USD/EUR.
One of the whales of Cryptocurrency exchanges! Some exchanges have closed their New User registration because of high demands and focusing on current users base. But BitMEX is available for new users. It provides fast execution and low fees. On BitMEX you will never find any problem with liquidity. They have a simple registration process and the fees structure is also very convenient.
It is the most advanced cryptocurrency exchange to buy or sell Bitcoin, Litecoin, Ethereum, etc. KuCoin is one of the strongest exchanges you can use. It also provides Mobile app for both iOS and Android users. This mobile application frequently updates so that users can manage their currencies easily. It is an easy and hassle-free process. They are getting better day by day!
This exchange is famous for its International Multi-language feature. Huobi is something you should definitely try. It has a unique approach and you can find many new cryptocurrencies over here. It also offers specific coin called HT.
It is one of the world’s largest cryptocurrency exchanges. Kraken has been here for a long time and it is probably one of the best well-run exchanges. Kraken might be a bit harder for beginners. The orderbooks might be a bit tricky for first-time buyers. If you are planning to buy a good amount of coins, then Kraken is a good and economical option for you. The cost is comparatively low.
It is a global Bitcoin exchange. CEX allows you to sell bitcoin (BTC), litecoin (LTC), ether(ETH) and other cryptocurrencies as well. CEX supports most of the countries via traditional payment methods like credit card and bank transfer. So, this makes it easy for beginners to invest in cryptocurrency
It is a cryptocurrency exchange based in New Zealand. Cryptopia is for small and cheap coins. Most of the coins listed on Cryptopia are exclusive for their users. You cannot find those coins on other platforms. You can find many undervalued cryptocurrencies here. That doesn’t mean these coins are spammy or wrong choice. You just can’t find these coins on any other exchanges.
So, these were some of the best cryptocurrency exchanges for you. Before investing in any digital currency, it is recommended that you do a thorough research and exercise caution.
Tech-savvy and a passionate blogger. I have done software engineering from the University of Mumbai. Technology Specialist 2.0 in DOT NET. I also have my personal website http://glamourbytes.com/