Bitcoin has certainly gone a long way since its launch in 2009, remaining firmly positioned as the most successful and fastest growing cryptocurrency to date. Bitcoin can be used today to buy real services and goods, but in order to enjoy its perks, you first have to get ahold of Bitcoin.
With the ever-rising number of hacking attempts, finding the best Bitcoin exchange is almost parallel of an achievement to identifying the one with the highest security level. All Bitcoin exchanges have similar core functionalities, but their overall effectiveness can greatly differ, based on rather small design changes.
After lengthy research, our professional team has managed to compile the ultimate list of Bitcoin exchanges that should satisfy the needs of pretty much all users, initiate to veteran level.
- Available in 32 countries around the world
- Mobile wallet works with Android and IOS
- Secure offline storage for digital assets
- Scheduled weekly or monthly transactions
- Insta trading available upon registration
- A multitude of available payment options
- 100$, 200$, 1,000$, and custom purchase
- Basic BTC selling packages - 0.2, 0.5, 1, 2
- BTC-for-fiat available through PayPal
- No minimum Bitcoin deposits are required
- Numerous options for deposit/withdrawal
- Smooth transactions and instant deposits
- Based on P2P networking on a global scale
- No company limitation for buying/selling
- 1% fee is charged only if you post adds
- Customer support staff is available 24/7
- Instant BTC transactions after payment
- Credit/debit cards and hard cash accepted
- Secured servers for personal info storage
- Referral program with 15% commission
How To Choose The Best Bitcoin Exchange
There are numerous factors that come to mind when choosing the best Bitcoin exchange. We’ve devised the ultimate list of criteria, comprised of primary and secondary factors to bear in mind at all times.
Service quality is the most general of our primary criteria. This group of professional demands relays to the overall service provided by the company and the general state of user satisfaction. Every Bitcoin exchange has its service manifesto, but we’re here to make sure you know whether the specific company acts upon its promises and to which degree.
Transparency signals the overall amount of publicly available company data. When deciding on a specific service provider, you want to know as many intricate business details as possible, but also the people behind the company name. You’ll want to see whether their headquarters actually exist and whether the pictures on their site are authentic. Public audit pages and the addresses of the company’s cold storages will provide the essential insight into the company’s overall liquidity, making sure they’re not running a fractional exchange. A published order book is also a nice addition to the overall credibility.
One of the most important factors in the primary bracket are the fees charged for the service provided. Unlike with bonds and stocks, Bitcoin exchanges express their fees in percentages. You can usually expect to see deposit and withdrawal fees, as well as fees charged for every transaction. Many Bitcoin exchanges will follow a sliding scale based on the amount of Bitcoin transferred, meaning the more cryptocurrency you buy, the fees will be lower.
Safety or security is also one of the top priorities when deciding which Bitcoin exchange you should opt for. Your personal data must be kept secure at all times and there are a couple of measures you should be aware of. For example, you should know whether the company website features a secure protocol. Also, you’ll want to know whether your logins are protected with two-way authentication. Apart from this, the company also has to keep you secure from any kind of hacking attacks. This includes a cold storage for the majority of the traded funds and proof of reserve, encrypted e-mails, SMS, and e-mail alerts, and 24/7 wallet monitoring.
Verification denotes the amount of personal information you’ll have to provide in order to create an account with a Bitcoin exchange. Some of them will simply require an e-mail address that doesn’t even have to be real since most of them do not send out confirmation notifications. On the other hand, if your exchange of choice follows the AML and KYS laws in your country, some extra info will be required from you. Keeping your anonymity is rather difficult on public exchanges, except if you buy Bitcoin through a P2P marketplace.
Apart from our elementary package of criteria, we’ve also inspected the companies for some “nice-to-haves.” The country (preferably countries) where the company does business is also very important since the relevant legislature will vary from one location to the next. It’s typically recommended that you buy Bitcoin in your own country. The volume of available payment methods is also important since you want to have as many options as possible (credit cards, cash, wire transfer, PayPal…). The overall transaction speed is of the essence in the highly volatile world of Bitcoin, where the price tag can easily jump or plummet at a moment’s notice. Reputation with Bitcoin exchanges is a far cry from just blindly following trends. The Bitcoin community values quality above all else, meaning that a very popular exchange is also a trustworthy one.