By Ronny Martelli
The price of Bitcoin may have plunged in the last few weeks, but this cryptocurrency is still the best by market capitalization and value. Trading in Bitcoin will continue unabated for now, therefore, what you need is a reliable exchange form which you can carry out Bitcoin buying or selling. We’ve scoured the market to come up with the top 5 Bitcoin Exchanges in 2018.
But before you sign up with any exchange website on the market, ensure you find out the following factors about it.
· Reputation – find out what other users have to say about the website. The website should have all round positive views from genuine users.
· Fees charged– seek information about fees charged for deposits, trading and withdrawals. Go for reasonable fees
· Payment methods accepted– find out if payment methods like bank transfers, PayPal, credit/debit cards or use of other cryptocurrencies. It is important so as to avoid challenges when it turns out that website doesn’t offer a certain method. Also, some methods are slow while others attract huge fees
· Handling speed– compare the time it takes to complete transactions on the website. It is good to know whether there is instant buying, delayed verification or how long it takes to confirm a transaction.
· Limitations– find out how much bitcoin the website allows you to purchase under different circumstances like verified and unverified accounts etc
· Security and Privacy– you need to find out if your privacy is guaranteed because some buying methods like credit card can expose your personal information. How secure is the website in terms of safeguarding transactions.
· Verification methods – some websites require you to complete a verification process while others don’t. Find out if that website protects you against cyber scams or maintains your anonymity.
· Countries supported/availability –before proceeding, find out if that service is supported in your country or region. Its services should be fully rolled out supported locally.
Well, here is a list of the top 5 Bitcoin exchange websites in 2018. We have summarized the key information available for each website. These are the websites that will offer you the best in terms of Bitcoin exchange.
Coinbase
Coinbase is a reputable Bitcoin exchange platform that also offers a wide range of other cryptocurrencies for trade.
Coinbase is supported across several countries around the world and easy to sign up with, making bitcoin purchase for beginners quite simple.
Coinbase offers a range of payment methods when you purchase cryptocurrency. You have a choice of methods such as bank accounts, credit card, and debit card.
On Coinbase you get to purchase bitcoin at high limits, though the limits are dependent on your verification level.
Handling speed is one of the best, though this too varies depending on location and payment method.
· Available Cryptocurrencies
Bitcoin
Bitcoin Cash
Ethereum
Litecoin
Pros
· Coinbase is friendly to Bitcoin beginners.
· You get Credit card backup.
· Regulation compliant site.
· Secure with its 2-factor authentication [2FA].
· Quick customer support from the site.
Cons
· Limits offered lower than some competitors.
· Tedious verification process.
· Initial purchases are known to take up to 5 days.
·
Cex.io
Cex.io is a London-based cryptocurrency exchange website that began operations in 2013. It is among the best Bitcoin exchange websites in the world. It currently operates as a Bitcoin trading site.
Cex.io is supported globally and is reputed to have more than a million users. You can sell and buy Bitcoin on Cex.io in most countries around the world.
The website is registered, therefore, secure for Bitcoin lovers to carry out their transactions.
Cex.io charges a 2% fee for transactions on the site. However, Bitcoin buyers should be aware that additional BTC charges apply.
· Bank card fees – 3.5%.
· Bank account transfer deposit- free.
· Cryptocurrency -free.
The exchange has a range of payment methods that include: Credit/debit card, Bank transfer, and SEPA, PayPal, and online payments.
The website offers 2FA for further coin security. There is also email and phone number verification.
Handling speed is fast. There is an instant bitcoin buy option. However, transactions with bank transfers take up to 5 business days.
Buying limits are available depending on verification; higher limits for verified accounts.
Pros
· Easy for beginners.
· Great 24 hour customer support.
· CEX.IO offers margin trading – unlike most other sites.
· Easy sign-up and account registration.
Cons
· Low privacy.
· High fees.
· Not supported in selective US states.
Bitstamp
Bitstamp is Bitcoin exchange that was originally located in Slovenia before it was moved to Luxembourg via London.
It is a popular website that provides bitcoin buying or selling through debit and credit cards. You can easily buy crypto with credit card in Canada using such sites.
Bitstamp has an easy to navigate, user-friendly UI that is great for those seeking to buy bitcoin for the first time.
Bitstamp is supported worldwide and charges a fee of between 0.25% – 1% for all trading .There is no fee for deposit or withdrawals.
Available cryptocurrencies include Bitcoin, Litecoin, Bitcoin Cash and Ethereum.
For verification, you are required to all the necessary documents.
Pros
· User-friendly interface.
· A secure, reliable cryptocurrency exchange.
· It has high liquidity and a great solid volume.
· 2-Factor Authentication.
· Low trading fees.
Cons
· Offers limited payment method options.
· Time consuming verification process.
· No fiat.
Local bitcoins
Localbitcoins is a Bitcoin cryptocurrency exchange website launched in 2012. It is based in Finland and provides a P2P bitcoin platform where sellers and buyers meet for transactions.
Localbitcoins is available across the world, including in more than 15,600 cities around the world.
The website supports a wide range of payment methods depending on location and seller/buyer agreements.
You don’t need to provide personal information when signing up on Localbitcoins.
Available cryptocurrency: Bitcoin
The website is secure, but the user is advised to be keen when picking on a seller/buyer.
Handling speed is quite fast, though it depends on location and payment method.
Pros
– A variety of payment options available.
– Fast method of getting bitcoin.
– High limits.
Cons
– Risk of scam.
– Varying fees depending on payment option.
Coinmama
Coinmama is a reputable website that is among the very first Bitcoin exchange websites in the world.
It is available in over 210 countries around the world.
Coinmama specializes in Bitcoin transactions, using its easy and user-friendly site navigation make it easier for beginners.
Verification of account on Coinmama is fast, lasting about 10 minutes. There is also great customer support using email.
However, Coinmama charges up to 6% fee on all transaction.
Available cryptocurrencies
· Bitcoin
· Ethereum
Pros
· Reputable and supported in over 200 countries.
· Accepts credit and debit card.
· Fast, secure and simple to use.
· It offers high buying limits.
Cons
· Limited payment methods (credit/debit card)
· High processing fees.
· Does not support a mobile app.
So…
The best exchange and trading sites are distinguished by the positive reviews of their customer base. However, that may not be enough in the cryptocurrency world where scams and fraud are rife. For that reason, you should always move your Bitcoins immediately as you are done buying on any website.