Bitcoin is gaining momentum faster than anybody initially thought. People around the globe have already started talking about it, and thanks to many new startups, even non-technical people are able to purchase Bitcoin these days.
If you search for “Best Bitcoin exchanges“, you will get overwhelmed with the options available. But this exclusive guide will help you pick one of the top Bitcoin exchanges around the globe to do business with. Most of these exchanges accept money by wire transfer & the best part is, you can use them from any part of the world (as long as Bitcoin is not illegal in your country).
- Also read: What is Bitcoin? [Comprehensive Guide]
So without further ado, let’s look at the best Bitcoin trading platforms to help you buy and/or sell Bitcoin.
Here is a list of the top Bitcoins exchanges around the world:
- Poloniex (Supports all cryptocurrencies)
- Bitmex (High volume with many less known Cryptocurrencies available as well)
- GDAX (Part of Coinbase)
- LocalBitcoins (Decentralized exchange)
- Coinsecure (Indian Bitcoin Exchange)
- Huobi (Chinese exchange)
- OKCoin (Chinese exchange)
- Gemini (Trusted & popular)
If you are looking for a website to buy Bitcoins instantly, here are some of the best & most reliable options:
8 of the Best Bitcoin Exchanges
When it comes to trading volume and supported cryptocurrencies & trust, nothing beats Poloniex. Getting started on Poloneix is easiest as you can deposit any cryptocurrency or USDT (Tether dollars) & start trading.
The moment you setup your account, make sure you enable 2 step authentication before depositing any currency. The exchange supports Stop-limit orders to reduce trading risk. Have 5-minute, 15-minute, 30-minute, 2-hour, and 4-hour candlesticks. Charts are fully Zoomable to cover the complete market history.
If you are dealing in Altcoins, this is the best Cryptocurrency exchange for you.
Note: Due to new Chinese regulation, BTSS has stopped accepting new registration & they are suspending all trading from 30th September 2017.
This one is my favorite & one of the largest Bitcoin exchanges based out of China. They offer a USD exchange as well, which is perfect for users like you & me who like doing business in the English language. You can deposit money to your BTCC account using a wire transfer, and they also accept payment using a credit card (with a 5% fee).
The best way is to use wire transfer which takes about 3-4 days for the money to get credited into your account. This is the best option if you don’t mind waiting for a few days. If you are looking to get started instantly, there are better exchanges for that purpose listed below.
BTCC also offers many other services like BTCC Mint (digital currency coin & poker chips), JustPaywallet, Mining Pool & a few others. I will discuss all of them in an upcoming review post of BTCC.
The verification process of BTCC is fast & all you need is your passport and address verification to get started. Usually, they take about 24 hours for everything to be approved.
Their security is also top notch as they offer a withdrawal & login 2-factor verification that you should definitely enable. Overall, BTCC is one of the best Bitcoin exchanges in the world.
Note: BTCC has halted trading.
Kraken is one of the largest Bitcoin exchanges in the U.S.A. Based in San Francisco, U.S.A., with Kraken you can also trade using other cryptocurrencies like Etherium & Zcash.
Getting started is easy & takes about 1-2 days for verification. This exchange is open for people around the globe & you can fund your account in various fiat currencies like USD, Canadian Dollars, Yen, and Euros (to name a few) & cryptocurrencies like Ripple, Litecoin, Dogecoin.
The first wire transfer will take many days which can be tedious for a new user. However, after the first successful deposit, things will be smoother.
Here is how the Kraken dashboard looks:
Overall, if you don’t mind waiting for a few days to get started with Bitcoin trading, Kraken is a great option.
This is another popular Bitcoin exchange that claims to be the first fully licensed exchange. You can buy bitcoins using your credit or debit card.
Their interface is prettier than Kraken, and they offer an iOS & Android app so you can trade from your smartphone.
- SMS price alerts
- High security
- 8% fees for credit card purchasing
- You can see their list of fees here.
A bank wire transfer typically takes 2-5 business days, and a SEPA transfer takes 1-3 business days to reach your Bitstamp account.
Bitstamp is best for traders who are looking for an advanced exchange for buying/selling bitcoins to make a profit.
Gemini is another great Bitcoin. Gemini is based out of New York City & also operates in North America, Europe, and Asia.
They offer individual accounts as well as institutional accounts. Their price is competitive & their interface is easy to use for beginners. I had a talk with their team regarding opening an institutional account & they are a very friendly company to work with.
If you are looking to open a corporate account for Bitcoin trading in the U.S.A, Gemini is a great option.
OKCoin is another Chinese Bitcoin exchange that lets you trade in USD. They have great support & an easy to use interface.
The verification process takes about 2 days & once you are all set, you can deposit money using a wire transfer. Wire transfer fees are 0% & they even offer a dedicated account manager.
You can also deposit money using PerfectMoney (with a 3% fee).
Huobi is 3rd in the list of popular China-based Bitcoin exchanges. They let you deposit funds using PerfectMoney in USD (with a 3% fee).
Overall, Huobi is a decent site, but there are better options that you should consider. Those 3% fees add an extra burden on traders. I hope they add more deposit options for USD in the future.
Coinbase is one of the U.S. popular bitcoin exchanges. They have one of the neatest interface & you can also use their iOS & Android app to buy Bitcoins or Etherium. The operate in many countries & getting started with them is easy. I have already shared a detailed guide on how to use Coinbase for buying Bitcoin over here.
Once you signup for Coinbase using the link below, you will get $10 bonus once you have done a transaction of $100. This is free money so you might not want to miss this offer. While Coinbase is good for buying & selling Bitcoin but if you are into trading, you need to go to GDAX for their official exchange. You can use your existing Coinbase login to get started.
As I said earlier, every day, new Bitcoin exchanges are coming online. We can expect to see more and more of them with even better features for end users like you and me.
One word of caution:
- Don’t use these Bitcoin exchanges as a wallet.
They are good for trading, but if you need to park your bitcoins, either use a mobile-based wallet such as MyCelium, or buy a hardware wallet like LedgerWallet or KeepKey. Any wallet that lets you store your coins offline is the best and most secure.
I will talk about securing your bitcoins in upcoming posts, but for now, let me know which Bitcoin exchanges you’ve used and what your experiences have been like.
If you find this guide useful, do share it with your network!