Best Bitcoin Exchanges

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.

VirtualBanking.com is an independent website with monetization implemented through several affiliate programs, distributed by companies advertised on this site. Our website receives monetary compensation for presenting and ranking certain cryptocurrency-related products and services. The said compensation, our personal opinion, and the objective quality of the product/service will impact its final ranking. VirtualBanking.com cannot and does not introduce every cryptocurrency cloud mining service, crypto exchange, trading bot, ICO, tax software or mining rig rental on the market. Close
Coinbase is a cryptocurrency exchange founded in 2012 and located in San Francisco, California. They currently feature over 8,500,000 users with 28,100,000 wallets and support Bitcoin, Ethereum and, as of recent, Litecoin.
  • 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
OUR RATING
9.6
USER RATING
CEX.IO was launched in 2013 in London, originally serving as a cloud mining provider. They discontinued that service in 2015 and established the company as one of the most reliable multi-functional cryptocurrency exchanges.
  • 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
OUR RATING
9.1
USER RATING
VirWox is a unique online retailer of game currency, offering the loophole possibility of purchasing Bitcoin with real money. Their niche virtual entrepreneurs can also convert their online profits into fiat money or hard Bitcoin.
  • BTC-for-fiat available through PayPal
  • No minimum Bitcoin deposits are required
  • Numerous options for deposit/withdrawal
  • Smooth transactions and instant deposits
OUR RATING
8.7
USER RATING
LocalBitcoins is a worldwide P2P exchange service that allows buyers and sellers from around the world to trade Bitcoin online or even face-to-face. They were founded in 2012 in Helsinki and are currently available in 248 countries.
  • 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
OUR RATING
8.0
USER RATING
Coinmama is registered as a property of NVB International s.r.o., the daughter company of New BitVentures Ltd. It was launched in 2013 as a Bitcoin-buying platform, but they're currently working on expanding to other cryptocurrencies.
  • Instant BTC transactions after payment
  • Credit/debit cards and hard cash accepted
  • Secured servers for personal info storage
  • Referral program with 15% commission
OUR RATING
7.7
USER RATING

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.