Crypto Millionaires are being minted every day in 2018. Top investors are turning to the top cryptocurrency exchanges to buy, sell and trade literally 1000’s of altcoins. Bitcoin was just the beginning, today you can make huge profits trading the hot up and coming cryptocurrencies. Check out the top 15 crypto exchanges of 2018!
What is a cryptocurrency exchange?
Cryptocurrency exchanges allow you to buy, tell, and trade cryptocurrencies such as bitcoin and all the other altcoins that are out there in 2018. Normally a crypto exchange will allow you to exchange a currency such as US Dollars, Euros, Great British Pounds, and others for cryptocurrency. Many factors will determine which exchange is best for you depending on which currency you want to buy, where you live and what currency you would like to use complete a purchase.
Most cryptocurrency exchanges are as easy to use as signing up and connecting a digital wallet where you plan to store your crypto coins or tokens. Though crypto exchanges are very safe, it is not recommended to use them for the long-term storage of your currencies. Invest in a proper digital wallet and even consider one of the many hardware crypto wallets being offered today.
Types of crypto exchanges
- Trading Platforms – Buyers and sellers are connected to exchange various global currencies for various cryptocurrencies. Typically there are fees associated with every transaction.
- Direct Trading – P2P trading connects buyers and sellers directly.
- Brokers – Brokers set their prices and people purchase cryptocurrencies from them directly.
The Crypto Millionaires Field Guide: How to Pick the Right Cryptocurrency Exchange
There are many things to take into account before you open an account and begin trading cryptocurrencies.
Consider the following when you are choosing which cryptocurrency exchange will be best for you:
- Global Rep – The crypto trading space is still pretty small and tight-knit. There are many forums, facebook groups, and websites such as Reddit and Quora which offer a wealth of real-world experience about crypto exchanges. Read as many resources as you can to determine the best options for you. The top 15 cryptocurrency exchanges listed in this article are all great choices to explore further.
- Cost – All exchanges will have different fees associated with the types of global currencies they accept and cryptocurrencies they have available.
- Payment Methods – Got skrill but want XRP? Maybe PayPal and you want ETH? American Express for BTC? How you want to pay can really impact where you ultimately want to purchase cryptocurrency from.
- Verification Requirements – Generally speaking, you will have to verify your identification and payment details in some way to work with most exchanges. This is to prevent fraud, money laundering and other more scrupulous uses of altcoins. There are some exchanges that will not require verification but proceed with caution.
- Location Specific Restrictions – There are different laws around cryptocurrencies in many parts of the world. As a result, exchanges do not function with the same features and utility in all areas. You will want to be sure you choose the best exchange for where you live or plan to be in the near future.
- Exchange Rate – Sometimes it pays to shop around. Crypto prices can fluctuate wildly, the difference between exchanges is no different. Always search out the best prices.
Coinbase is one of the most well known and established crypto exchanges in the world. You can buy, sell, use, trade and store cryptocurrency with this platform. There is support for Bitcoin, Ether, and Litecoin. If you are interested in purchasing lesser known or newer altcoins, this may not be the best option for you.
While Coinbase is tried and tested for millions around the world, some have been disappointed by limited payment options, support for all geographical locations and differences between available services depending on your location.
Still, Coinbase remains a top choice because it is so user-friendly and even offers insurance on all currencies stored within the platform.
Since 2011, Kraken has been one of the premier options for trading Bitcoin with the Euro currency. These days Kraken also allows for transactions with US Dollars, British Pounds, Canadian Dollars and Japanese Yen.
There is also support on Kraken for many hot altcoins such as Ethereum, Monero, ICONOMI. ZCash, Dogecoin, and Stellar. Kraken also offers some very technical trading options that make it the perfect choice for more seasoned users.
This is not a platform that is known for being user-friendly but there is a lot of support. If you want to take the time to learn how to trade like the crypto millionaires, you might want to invest in learning Kraken!
Cex.io is a top choice for many of the most successful crypto millionaires out there. This is a platform with the technical features that can help you to trade cryptos like a professional. There is support to easily trade fiat money into cryptocurrency and vice versa.
There is also a brokerage feature which allows you to buy currencies at stable rates in line with market value. This is al\so a platform that has support for credit card purchases, a somewhat rare feature among many exchanges. It does take time to verify identity with Cex.io and compared to other options, making deposits is a bit expensive.
Despite these drawbacks, Cex.io is worth checking out if you really want to use advanced trading features.
ShapeShift is one of the rare platforms that will let you make instant trades without having to wait through a verification process or even set up an account.
Shapeshift will not let you purchase with debit cards, credit cards or any other payment system. There is no support for fiat money. This means that you can only trade between Bitcoin and other cryptocurrencies. This is a very user-friendly platform and offers fast exchanges at very reasonable rates.
There is even a mobile app to put the power of the crypto millionaires right in your pocket. ShapeShiuft is a great choice if you want a simple and easy exchange to trade altcoins with.
Poloniex has been open since 2014 and has quickly earned a global rep as one of the top choices in the crypto exchange space. This is a place where you can buy and trade many unique altcoins using advanced tools and data analysis.
Under the hood, Poloniex comes fully stocked with all the top options crypto millionaires need to capitalize on market trends and insights. This platform has one of the highest trading volumes of all and that means there are some discounts and benefits associated with trading here.
Poloniex employs a volume-tiered, maker-taker fee schedule for all trades so fees are different depending on if you are the maker or the taker. For makers, fees range from 0 to 0.15%, depending on the amount traded.
Bitstamp has been in business since 2011. In that time, it established itself as one of the top choices for traders looking for an exchange in the EU.
This exchange is known for advanced security features, around the clock support, a 2 step authentication system and a multisig technology which makes its wallet and fully insured cold storage, really amazing options. After opening a free account and making a deposit, you can begin trading right away.
That makes this a great choice for those who just want to pick up and play. Despite the ease of launching this platform, using it is fairly complex so it might not be the best choice for those with no experience in the crypto trading space.
CoinMama is a very well established name on the scene that lets you purchase Bitcoin and Ether. You can use credit cards and even cash through Money Gram to make your purchases.
This crypto exchange is known for its user-friendly interface, good range of payment options and worldwide availability. Some feel that high exchange rates and no ability to sell Bitcoin take away from its utility.
CoinMama is definitely an option to keep an eye on if you are just getting started and are set on buying BTC or ETH.
Bitsquare is a very forward-looking crypto exchange. Built around a P2P infrastructure, one of the main benefits here is the emphasis on decentralization.
You can also purchase Bitcoins with fiat currencies or other altcoins. Bitsquare is a great choice if you do not want your user info compromised by any 3rd party.
Only trading partners exchange any info and the company does a lot to stay out of users personal data. he platform offers great security with multisig addresses, security deposits and purpose-built arbitrator system in case of trade disputes.
If you want to remain anonymous and don’t trust anyone, Bitsquare is the perfect platform for you.
LocalBitcoin is a P2P crypto exchange that links buyers and sellers in thousands of cities around the world. Unlike most other platforms, this one will allow you to actually meet people in your local community to buy or sell bitcoins. You can also use payment options like PayPal, Skrill, Dwolla, and others such as direct deposit at a local bank branch.
LocalBitcoin only takes 1% of transaction price which is set independently by the traders who use this platform. Because of the features which no one else uses, this is definitely a platform you will want to check out if trading with your local crypto community is important to you.
For many crypto millionaires, it’s the best way to go. This platform also does not require ID verification, is very beginner friendly and offers mostly free and instant transfers to anywhere in the world. There is a lot to love about this option.
The brainchild of certified Facebook innovators and current Crypto Billionaires,. the Winklevoss Twins, Gemini is a fully regulated US exchange for Bitcoin and Ether. Functioning in much the same way as a bank, there is a lot to love about the legitimacy of this emerging brand. Gemini only works with US Dollars, Bitcoin, and Ether.
It is not the best choice if you want to purchase or trade other altcoins. That being said, the exchange operates a maker and taker fee schedule which offers steep discounts for high volume users. Plus, all withdrawals and deposits are totally free of charge.
The platform is only fully available to customers in 42 US states, Canada, Hong Kong, Japan, Singapore, South Korea and the UK.
Bitttex is a very unique up and coming platform for trading altcoins. There is currently support for more than 200 coins, tokens, and other unique digital products.
It is important to note that this company is based on US soil and as a result, is under a much different standard than some other more offshore, international exchanges which are operating in a more wild west like legal atmosphere. Vegas might be the wild west but in the legal context of the US, it is very much an established place to do business.
This means that when you trade altcoins here, you are doing so in a lawful and legal way with a fully insured US company. Definitely, one to keep an eye on especially if you want to purchase rare and largely unknown altcoins.
BitFinex is a very large and well-established option. Founded in 2012 and headquartered in Hong Kong.
This exchange offers support for many leading currencies including but not limited to Bitcoin, Ethereum, Litecoin, Ethereum Classic, Ripple, Dash, Monero, Iota, and Zcash.
BitFinex also offers apps that make it very easy to use on the go whether on the Apple iOS or Android systems.
Bisq is a decentralized P2P platform that offers a lot of transparency and security. You will not need an account and you will not need to verify any information to begin using this platform. You will receive very fast transaction speeds and the ability to arbitrate any deals that do not end up in the way you were expecting.
Crypto millionaires who really value privacy turn to options like Bisq for the extra security of knowing that their data and personal info cannot fall into the wrong hands thanks to the emphasis on digital security and encryption techniques.
Gate.io is a new option which is making waves in 2018. One of the main reasons this one is getting so much buzz is due to the fact that they offer many of the newest cryptos and tokens available.
There is also a very well received mobile app and many expect this platform to see huge gains in trading volume through 2018. Be sure to check out this new option if you haven’t yet!
This is another newer option that is creating a lot of interest in 2018. Many people have been raving about the utility of the mobile app for Android and iOS.
Look Out for the Next Crypto Millionaire’s Field Guide!
2018 is well underway and cryptocurrency is a great investment for many people.
Be sure to do your homework and advance your knowledge around which crypto exchanges will be best for you.
Even if you find a platform you like, don’t be afraid to shop around to ensure you get the greatest utility and lowest rates for your trades!