Best Bitcoin exchanges

Cryptocurrency exchanges

The best guide to using exchanges

What is a cryptocurrency exchange?

Cryptocurrency exchanges

Cryptocurrency exchanges are platforms that allow the buying and selling of cryptocurrency coins. They do not sell them directly, but allow contact between people who want to sell with people who want to buy.

The main function of exchanges is to ensure that buyers receive bitcoins and sellers receive the money involved in the trade. In addition to connecting buyers and sellers, exchanges have the function of ensuring that each party receives what is traded securely.

💰 ExchangeBinanceCoinbaseKrakenPlus500Gate.ioBitfinexBitstamp
🪙 Cryptocurrencies3901003501010003507
💸 Leverage✅✅✅✅❌✅❌
💵 Minimum deposit10$2$10$100$10$10000$
💳 Payment methods583bank transferpaypal, bank transfer, credit cardcryptocurrencies onlytarjeta o transferencia bancaria
🖥️ Platformdecentralizedcentralizeddecentralizedcentralizeddecentralizeddecentralizeddecentralized
👛 Own wallet✅✅❌❌✅✅❌
✔️ Commissions0,10%1,49%0,26%0,9%0,2%0,10%0,15%
🌐 WebsiteVisit webVisit webVisit webVisit webVisit webVisit webVisit web

What should you consider before choosing a cryptocurrency exchange?

How to choose the best exchange

Before buying the currency of your choice, there are some considerations you should take into account when choosing a cryptocurrency exchange.

It is advisable to do a good research before choosing a bitcoin exchange, it is important to make sure you choose the most secure and practical platform possible. One of the main indicators that should influence your choice is the trading volume, this is a great indicator to take into account and is an excellent indicator of the reliability of the exchange.

Make sure you are able to use your preferred secure payment method

To buy cryptocurrencies on an exchange platform, you must start by depositing money, and to do so, you can choose from a variety of payment methods. Most exchanges accept credit and debit cards, or bank transfers. Some also accept PayPal or any other payment method of your choice. However there are some exchanges that do not have all payment methods available.When choosing the payment method you have to take into account aspects such as the speed of the transactions and the commissions. Bank transfers are the slowest (they can take several days to receive the money in your account) but they are also the cheapest option with the lowest fees on all bitcoin exchanges. Credit cards have the advantage that the money will arrive almost instantly in your exchange account but they can be expensive to use.

Check if the exchange has wallet

The next thing to consider is whether you need to create your own bitcoin wallet or whether the exchange has its own wallet. Centralized trading platforms are private, which means that they have their own wallets, into which you have to deposit the cryptocurrencies you wish to trade on the platform, or the coins you have purchased. Only when you have placed the funds in the platform's integrated wallet, you can withdraw them to your own private wallet or directly to your bank account.

Compare the cost of exchange commissions

Cryptocurrency exchange platforms have certain fees for using cryptocurrency markets and for conducting transactions, such as buying or selling. Fees are also usually included for depositing cash on credit cards or debit cards. The fees are not the same in all exchanges, so you should analyze the one that is going to be the most economical to use.

Safety and security of the cryptocurrency exchange platform

Cryptocurrency exchange security is and should be your top priority when trading cryptocurrencies. Hacking attacks are quite common, although their success rate may vary. You should always use all the security measures offered by exchanges, such as 2FA (two-factor authentication), creating strong and complex passwords, among other things. The identification methods they use, encryption and other measures are essential to ensure the security of your account.

Exchange transaction volume

The volume of transactions is a measure of the degree of recognition of the exchange in the market and among investors. In addition, the more people buying and selling, the greater the liquidity of the investment.

ExchangeVolume (24h)Weekly visitsMarketscryptocurrencies
Binance32,992,536,35217.51 $30,790,9981492395
Coinbase Exchange6,350,970,27028.23 $3,418,423352114
FTX2,053,076,42435.6 $4,474,667532273
KuCoin3,328,285,27820.78 $2,229,387972493
Gate.io2,082,051,54532.29 $2,789,18317511006
Huobi Global4,973,169,22034.78 $1,418,5531046353
Kraken899,425,70742.13 $2,406,00637398
Binance.US1,263,191,83819.38 $767,80112062
Bitfinex787,318,29929.39 $941,966343156
Bithumb1,923,382,0839.52 $678,298256184

Understanding the exchange platform and its use

You should also check the complexity of the exchange you decide to use. There are many different cryptocurrency exchanges and they all have a unique setup in terms of functionality. Some are designed for professionals, and such platforms are packed with advanced and complex tools that a beginner will probably find more confusing and intimidating than useful. On the other hand, there are also platforms specifically designed to be simple and help you take your first steps into the world of cryptocurrencies.

Type of cryptocurrency exchange

Another important feature when choosing an exchange is the way the platform works. There are two main features: One in which the user only interacts with the platform, scheduling buy orders or selling cryptocurrencies without interacting directly with the seller or buyer, paying a transaction fee in each case. This most common exchange model today Peer-to-peer or P2P, in this type of exchanges the user trades directly with another user, the platform acts as an intermediary in the transaction, guaranteeing the security of the users.

Top 9 best cryptocurrency exchanges

mejor exchange de criptomoneda

Binance

Binance is one of the most popular international cryptocurrency exchanges in the world. This exchange has the largest market volume (largest number of purchases and sales of cryptocurrencies), according to CoinMarketCap data. The main advantage of Binance is the wide variety of cryptocurrencies it deals with, as it works with more than 300 cryptocurrencies and in more than 570 available trading pairs. In addition, Binance also offers free deposits and standardized trading fees.

User ratings
4.9/5
exchanges bitcoin 2021

Coinbase

Coinbase is one of the best known Bitcoin and cryptocurrency exchanges in the world, along with Binance. Coinbase is based in San Francisco (USA) and is a global benchmark in the security of cryptocurrency exchanges, as this is Coinbase's main objective. This exchange follows all existing security protocols and standards.

User ratings
4.4/5
mejor exchange de bitcoins

Bitstamp

Bitstamp is one of the oldest exchanges in the bitcoin and cryptocurrency market. Among the features offered by this Luxembourg-based exchange is the possibility to buy cryptocurrencies with credit cards and also to withdraw funds in the form of gold, which is very interesting for users who want to keep an international reserve.

User ratings
4.1/5
como escoger mejor exchange criptomonedas

Bitrex

This exchange was founded in 2013 in the United States and is only available in English, which makes it difficult to use for some investors who do not understand English. Despite this, the Bitrex application is very complete for investing in cryptocurrencies and they have more than 190 coins available, which helps to increase the number of users of the platform.

User ratings
3.9/5

Huobi Global

This exchange is one of the most popular in Asia, competing with Binance in this continent. Huobi operates with more than 300 digital currencies and more than 800 trading pairs available.

User ratings
3.9/5

Bitfinex

This cryptocurrency exchange based in Hong Kong, started in 2012. This exchange belongs to the stablecoin Tether (USDT). In recent years, Bitfinex has been the focus of attacks by hackers who had detected a vulnerability of the exchange. However, the vulnerabilities have been overcome and the exchange now has several security protocols, which ensure reliability for its customers.

User ratings
3.6/5
casas de intercambio bitcoin

Bithumb

Bithumb is one of the most popular bitcoin exchanges in South Korea, having been on the market since 2013. Based in Seoul, Bithumb is also widely used by the Japanese, as it has the highest trading volume among exchanges operating in the country. It is also interesting to note that Bithumb has a standard transaction fee that does not depend on the value of the transaction, which becomes interesting for the movement of large values. Security is also a highlight of the platform, which has rigorous verification and security processes.

User ratings
3.5/5

Kraken

This North American bitcoin exchange stands out for its interface, offering three levels of trading: basic, intermediate and advanced. Each one is adapted to the user's experience, which makes trading cryptocurrencies easy and the platform adapts to the user's experience.

User ratings
3.4/5

KuCoin

KuCoin exchange is based in Singapore and started operating in 2017, being one of the newest cryptocurrency exchanges that are at the top of the list of the best cryptocurrency exchanges. KuCoin has several tools that help investors, and great liquidity. KuCoin has recently been the target of hacker attacks, with a theft that took about $285 million.

User ratings
3.3/5

Differences between cryptocurrency exchanges

What are the differences between the major bitcoin exchanges?

Cryptocurrency exchange sites are those that allow customers to exchange cryptocurrencies for other assets, such as conventional fiat currency or different digital currencies.

Their revenue is usually based on transaction fees for their services or they simply charge fees as a corresponding platform to exchange cryptocurrencies with other cryptocurrencies or digital currencies.

Some of them can send cryptocurrencies to your personal cryptocurrency wallet and many can convert digital currency balances into anonymous prepaid cards that can be used to withdraw funds from ATMs around the world.

some bitcoin exchanges accept credit card payments, bank transfers, and others only cryptocurrencies

How to buy on binance?

Guide to buying in exchange

Binance is a popular exchange in the world of cryptocurrencies and is the best place to buy digital currencies. Binance offers a totally secure platform used by millions of people around the world; millions of transactions of buying and selling digital currencies are made every day from this platform. Here’s how to create a Binance account and start buying and selling.

1. Binance Registration

The first thing to do is to register with Binance. For Binance registration you will be asked for your personal data, to ensure security on the platform. Create an account

2. Make the first deposit

With the account created, you will be able to buy cryptocurrencies. From Binance you can buy cryptocurrencies either by credit card, debit card or bank transfer. If you make the deposit by credit card, you will receive the deposit in your Binance account instantly; with bank transfers the deposit will arrive within 24 hours.

3. Buy cryptocurrencies

Once you have the money in your account you will be able to review all the cryptocurrencies offered by Binance so you can instantly buy any cryptocurrency. View cryptocurrencies

How does a cryptocurrency exchange work?

How an exchange works

Bitcoin exchanges function similarly to a currency exchange bureau. It serves as a center for buying or selling Bitcoins and offers the service of orientation and guidance to those interested in these transactions.

Even so, cryptocurrency exchanges are not the ones that stipulate the buying and selling price of Bitcoin or any other cryptocurrency. Their job is to facilitate the meeting between those who are interested in selling and those who intend to buy a given cryptocurrency.

Through the platform, the person who is selling defines an offer value for their cryptocurrencies, while the person who is interested in buying registers how much they are willing to pay.

Therefore, when these buy and sell values match, the platform carries out the transaction between the seller and the buyer. A fee is stipulated as a % of the transaction, so that the deal can take place.

Bitcoin (BTC)
1.51%
37.058,15
559,58
⇣ 36.523,82
18 Jan
⇡ 37.589,86
Ethereum (ETH)
3.02%
2.826,22
85,35
⇣ 2.769,60
18 Jan
⇡ 2.886,33
Binance Coin (BNB)
3.23%
418,68
13,52
⇣ 412,24
18 Jan
⇡ 426,69
Cardano (ADA)
15.73%
1,42
0,223216
⇣ 1,28
18 Jan
⇡ 1,42
Dogecoin (DOGE)
1.87%
0,150139
0,002808
⇣ 0,145647
18 Jan
⇡ 0,151525
Shiba Inu (SHIB)
3.76%
0,000025
0,00000095514133
⇣ 0,000025
18 Jan
⇡ 0,000026

How to invest correctly in cryptocurrency exchanges?

Cryptocurrencies are much cheaper to operate and use than traditional money, as they do not go through numerous intermediaries interested in receiving money. Even so, there are certain fees to be paid when buying cryptocurrencies, and although they are usually quite low, they do exist.

1. Have a strategy

The first step to making good investments on the exchanges is to have a good investment strategy. After all, taking only the volatility of the currency as a basis is not the most appropriate, especially when you don't have much experience in the market.

Start by setting short-, medium- and long-term goals, so they can guide your actions and help you build a plan. Remember also that external events can influence the volatility of cryptocurrencies. Therefore, it is important to have a well-defined strategy to avoid blind transactions on exchanges.

2. Study the graphs and indicators of the exchanges.

When we enter the Bitcoin universe, it is important to make each of our decisions based on data. This can be done by studying the charts and indicators of its market, present on all cryptocurrency exchanges. It is important to use this resource to identify high and low currency patterns, as a good guide to make these buying and selling decisions.Do both short term and long term analysis, as this will help in the process of generating insights into market behavior. This will also facilitate the optimization of your investment strategies on the exchanges.

3. Start with initial tests

It is not advisable to invest all your capital in this market at once. Start testing with an investment on the exchange platform you have chosen, so you can learn more about this market and get the confidence to invest more and more until you reach an ideal amount in the future.Thinking this way will help you build a good investment wallet in the long run. After all, investing all your money at once is a very big risk, especially for those who are beginners... and it won't work that way for you to do well in this market.

First steps in cryptocurrency exchanges

Buying and selling on the exchange

After choosing a cryptocurrency exchange and opening your account, simply make a bank transfer or a credit/debit card deposit. To preserve your security, be careful with the password and username of your account, avoiding leaving it saved on your computer or mobile. Finally, when the deposit is validated, you can place the purchase order and acquire the chosen token or cryptocurrency. This process can be done in two ways

Each time you buy a cryptocurrency, it is stored in a cryptocurrency wallet that is unique to you. Most cryptocurrency investors buy and sell cryptocurrencies in exchange houses, given their ease and security.

Types of orders

  1. Market trading
  2. In market trading, the execution of a purchase order works in a similar way to that of the stock exchange. This is because exchanges organize buy and sell orders in a public order book. Therefore, it is sufficient to enter the order specifying the cryptocurrency and the total amount to be traded.
  3. Trading with limit orders
  4. In this case, the user can send a buy order at a price lower than the current quote. The opposite can also occur, i.e. the seller can send a sell order at a price above the market price.

In both cases, the order will be automatically executed by the best prices of the sellers or buyers, depending on the amount of cryptocurrencies to be bought or sold.