Ten Cryptocurrency Exchanges for 2018, ToughNickel
Richard is a professional writer and author. When he’s not creating, he’s actively pursuing his aim of becoming a stunning billionaire.
The Bitcoin Phenomena
Unless you’ve bot te a finish media blackout for the past 8 or 9 years, you voorwaarde have noticed the rise of Bitcoin (BTC) spil well spil other cryptocurrencies (Altcoins.) You’ve most likely think you’ve missed the boat, so to speak, on profiting from this incredible phenomena.
I thought I did spil well. Actually, te hindsight, I did miss out on an incredible chance. Back ter 2010, I wasgoed suggested 500 BTC to write Five articles for a tech-blog. Bitcoin wasgoed still relatively fresh, to mij at least, and I had only heard that it wasgoed used te shady dealings on the dark web. So, I turned the client down, not because of the rumors but because the value wasgoed toughly omschrijving to $12 vanaf article, which wasgoed nowhere near the value I placed on my writing.
Prompt forward 7 years and the value of a single Bitcoin is harshly $15,000 USD. Doing the math, I missed out on a $7.Five million. But, how wasgoed I supposed to know that this fresh phenomenon of cryptocurrency wasgoed going to explode like it did?
I couldn’t. Nobody could. Bitcoin wasgoed just the start. A twee years straks wij see the creation of several more cryptocurrencies and the numbers proceed to rise each day. Spil of this writing, there are approximately 1324 different altcoins, spil they have become to be known.
At the embark of it all, Bitcoins were, and ter many instances still are, traded inbetween peer to peer. But with so many fresh altcoins out there, it wasgoed only natural to see the rise of crypto-exchange markets to permit effortless trading and speculation.
Are you investing ter cryptocurrecny?
What is a cryptocurrency exchange?
Think of a cryptocurrency exchange spil similar to the stock market. It is a place where individuals, spil well spil institutions, can come to trade their posible currency for other posible currencies or for fiat (a government-backed currency.)
Crypto-exchanges provide real-time transactions and the users can see the value of each cryptocurrency te comparison to Bitcoin, their own fiat currency, or te relation to other altcoins. With this, people can make informed decisions, or speculations, then buy or sell based on those decisions.
Depending on the exchange, fiat currency, Bitcoin, or other altcoins would be deposited into an account and then use BTC spil the pulvínulo to make transactions te relation to crypto-pairs. For example, I could open my very very first account at an exchange and make a deposit using either a handelsbank transfer or my credit/debit card which would then be converted to the omschrijving value of Bitcoin.
I could then use my BTC to purchase other altcoins which would then be stored ter my Crypto-Wallet. I could then observe for the rise or fall of those freshly purchased altcoins until I am ready to cash-out. I would then need to sell those altcoins and the market would convert the transaction back to BTC before I could withdraw the value back to my chosen fiat and through a canap or card transfer.
If you are dealing with altcoins instead of just BTC then you can expect numerous transactions to take place and depending on the altcoin it could take up to an hour to find buyers for your altcoin to accomplish the transaction. And then come the fees.
What is the best crypto exchange for mij?
That is, of course, a tighter question to response because it would be based on your convenience level, the fees, the options to make deposits and withdraws, and the types of cryptocurrency you would like to trade ter.
While there are literally dozens of crypto exchanges to choose from, some are inaccessible to certain countries. Some are limited te the types of transactions that can be made, and some are just too fresh to have garnered enough trust.
Below, you will find a listing of the top Ten crypto exchanges based on Alexa traffic, trust level, accessibility, at least to the US, and the types of transactions they permit.
I would suggest visiting numerous exchanges to determine which one is the right getraind for you. Read their FAQ’s, find their forums and ask members questions, and do your due diligence. I would also suggest opening at least Two accounts with different exchanges so that you could split-test your transactions.
I’m not going to recommend any single exchange spil they all have their pros and cons. But, at the end of this listing, I will tell you the exchange that I am most convenient with and why.
The Cryptocurrency Exchanges
Bittrex – This is one of the most powerfully used exchanges te the US. It is not beginner friendly te that deposits are only made with other cryptocurrencies. There are toughly 250 altcoins that are accepted and traded on this exchange which makes it very attractive to users.
They have a basic account and an enhanced account but before you can embark trading, you vereiste verify your identity. This is required because of their anti-money laundering policy. This exchange will permit you to trade te fiat currency but only if your deposit exceeds $Ten,000USD, otherwise you are limited to trading te the 250 crypto-pairs.
GDAX – This is also a strenuously used exchange ter the US and also not beginner friendly. However, they do permit initial deposits using fiat through a bankgebouw transfer and then permit for trading ter several crypto-pairs with the main concentrate on Bitcoin, Etherium, and LiteCoin.
This exchange can be daunting for the beginner and is more geared towards advanced investors and institutional investors. One of the fine features of this exchange is that USD deposits are FDIC insured, up to $250,000.
Binance – This is one of the newer exchanges and is already getting powerful usage here ter the US. It is fine for crypto to crypto trades and they presently suggest about 48 different crypto coins to choose from.
Initial deposits can only be made with other cryptocurrency and only using the coins they trade te this exchange so make sure to investigate decently.
Poloniex – While this may be a powerfully used exchange, there are some concerns that users have mentioned, including very poor customer service and prolonged wait times for tickets spil well spil withdraws.
The webpagina only permits deposits of cryptocurrency but they do have 90+ crypto-pairs to choose from which makes it an attractive exchange for those not wanting to trade ter the top 7, or so altcoins.
Gemini – You may have heard of the Winklevoss twins, the co-founders of Facebook? Well, they’re also the founders of this exchange which is one of the most popular even tho’ it only trades te Bitcoin and Etherium.
They do accept bankgebouw transfers and wire transfers to make deposits and withdraws. After signing up and making a deposit, you can instantly embark trading, however you’ll have to wait until your account is verified ter order to make any withdraws. This webpagina stands out because of their superior customer service and beginner-friendly atmosphere.
Losbreken – Permitting deposits and withdraws using canap transfer or cryptocurrency makes this webpagina attractive. They permit trading with 14+ of the most popular altcoins which tend to be the most traded by volume across all platforms.
With an effortless identity verification system and low trading fees, this exchange is very popular ter the US, Europe, Canada, and Japan.
Bitfinex – This is one of the largest exchanges by trading volume and also not beginner friendly. Te fact, this webpagina is geared towards the advanced investor but they have superb guides that make it very popular among traders and investors.
This webpagina wasgoed hacked a while back but made good with their account holders soon zometeen. It permits for overheen 51 crypto-pairs and has very low fees. Bitstamp – This is one of the longest longest-runnings, having bot established ter 2011 and since it has bot licensed by the Luxenbourg Ministry of Finance, it is also one of the most secured.
Deposits and withdraws can be made with handelsbank transfers, credit/debit cards, and with other cryptocurrency. The buy/sell interface is effortless and beginner friendly. The main downside to this exchange is that it only accepts about Four cryptocurrencies, Bitcoin, LiteCoin, Ripple, and Ether.
Cryptopia – This is one of the more arousing exchanges ter that it is much more than a place to trade cryptocurrency, which they presently tade more than 500 altcoins. They also have a peer to peer marketplace where items are listed auction style or classified ad style and then permit for the bidding using a determined cryptocurrency.
The exchange is located te Fresh Zealand so the marketplace may not be a fine match for many and they do not trade te fiat to BTC, you voorwaarde trade ter cryptocurrency unless you are a Fresh Zealander and register a canap account, then you can deposit and withdraw te fiat.
HitBTC – This exchange permits for the trade te fiat and cryptocurrency, however, te order to trade te fiat one voorwaarde have a verified account. Presently, they only trade te about Ten crypto/ fiat pairs.
One of the best features of this exchange is the Demo Exchange where the fresh user can get acquainted with the interface and make demo transactions before making any deposits of positivo value.
Spil with any investment toneel, do your due diligence and investigate scrupulously before hopping on houtvezelplaat. Merienda you have selected an exchange that you would like to work with, make sure that you have your account verified BEFORE making any deposits. Also, determine the wait time that is necessary after making a deposit for making trades and withdraws.
You can imagine, exchanges are relatively fresh and many are still going through growing anguishes so if you have an kwestie, it may take some time to get it resolved through their customer service.
Investing ter cryptocurrency is a newer phenomenon all together that does not come without risks. The most popular altcoins right now are Bitcoin, Ethereum, LitCoin, Ripple, Dash, Monero, Zcash, Dogecoin, NEO, and IOTA based on their market share and trade volumes.
There are more than 1300 altcoins and for the majority, you can think of them spil similar to penny stocks with a value to a relatively petite few that know about them. That’s not to say you can’t earn a good overeenkomst of profit from them. Te tegenstelling, you can also lose a lotsbestemming, so investigate any coin you would like to invest te.
Again, I’m not taking sides with any of the above-listed exchanges but I have selected Bittrex and Gemini spil the exchanges I dreamed to work with. Bittrex because of their popularity and diversity of altcoins and Gemini because of their customer service and ease of use.