Digital Currency Exchange is better known as Cryptocurrency Exchange. It is a business that allows you to trade cryptocurrencies or digital currencies. If you are thinking about trading cryptocurrencies, then it may be risky at first. It is not easy to invest in cryptocurrency. And finding the Best Cryptocurrency Exchanges is also not easy.
Many people lost their money because of scams and frauds. The biggest problem with trading and purchasing crypto are security, privacy, and safety. In the past few years, Crypto exchange has become safer and more secure with advanced technology.
Here we make a list of the Best Cryptocurrency Exchanges.
Best Cryptocurrency Exchanges
Best Cryptocurrency Exchange Platform to Buy Cryptocurrencies are:
- Coinbase
- Binance
- Cex.io
- Coinmama
- Bisq
- Cash App
1/Coinbase
Coinbase was found by Brian Armstrong and Fred Ehrsam in 2012. In the United States, it is one of the most used cryptocurrency exchanges. Coinbase has a simple interface and a variety of altcoin choices. Coinbase also offers custodial wallets to store their investments. It has more than 15 million users.
Coinbase also offers a Coinbase Pro version. It has a different wallet-friendly fee structure. If you become friendly with the use of Coinbase, then Coinbase Pro is a perfect next step for you. Coinbase Pro offers more advanced features that a user needs.
Other pros of Coinbase are:
- An app for both iOS and Android devices.
- Schedule your currency trading on a daily, weekly, or monthly basis.
- Stores funds in a vault for safety purposes.
If we talk about the cons of Coinbase:
- The user does not control wallet keys. Coinbase owns private access to the coin.
- It charges high fees if you are not using the Coinbase Pro version.
2/Binance
The Binance exchange was founded in 2017. Its major focus is the trading of the altcoin. At first, we will talk about the pros of Binance.
The pros of Binance are:
- Binance offers more than 150 cryptocurrencies, while Bitcoin only offers 22 cryptocurrencies.
- It also offers 600 different trading pairs between other cryptocurrencies.
- The fees are also comparatively low than other businesses.
Binance is the best exchange who wants to trade altcoins. Binance is compatible with iOS, Android, Web, and PC clients. You will get both basic and advanced exchange interfaces for trading.
The cons of Binance are:
- Binance does not support in 13 U.S. states like New York, etc.
- Binance US has less trading pairs than its international counterpart.
3/Cex.io – One of the Best Cryptocurrency Exchanges
Cex.io is one of the most easy-to-use platforms. The security of Cex.io is also stringent. You will receive a notification whenever you log into your account in your registered email. It is available in more than 35 states of the USA. Cex.io gives protection against Distributed Denial-of-Service. If you worry about crypto coins’ security, then Cex.io is best for you. You can also downloadable real-time balance and transaction history.
Pros of Cex.io:
- Available on various platforms like mobile devices and websites.
- 2FA security.
- Trade USD for Bitcoins, Ethereum, and XRP.
4/Coinmama
Nimrod Gruber is the founder of Coinmama. Get fast delivery of your coins with Coinmama. It also gives 24/7 supports. You can quickly set up your account and start purchasing in minutes. It has over 2,500,000 users across 188 countries since 2013.
It allows you to buy cryptocurrencies with:
- Credit card,
- Apple Pay,
- Bank transfer,
- Debit card.
Other Pros of Coinmama are:
- No deposits are required.
- Easily buy popular cryptocurrencies.
5/Bisq
=Bisq is downloadable software and a decentralized non-KYC platform. Decentralized means it doesn’t have a central point of control. But work in the same manner that Bitcoin does.It has 26 different payment options. Apps for Android and iOS are also available. You also get open and free access to a unit of account. You don’t need to provide location or identification to gain access. If you provide a government-issued ID, you can use Banking products, like a savings account, etc. Bisq offers to trade various other cryptocurrencies.
Cons of Bisq are:
- Transaction speed can be slow, depend on the payment method.
- Trading volumes are low.
- Not designed for active trading.
6/Cash App
Cash App is a money transfer system. It allows users to pay bills, rent, or in a shop that supports Cash App. Cash App can act as a bank account. You also have a Cash App debit card. This service is handy for beginners. Cash App has even more features.
Other Pros of Cash App are:
- Ability to withdraw Bitcoin
- Simple interface
Cons of Cash App are:
- 3% charge while sending money.
- The withdrawal limit is $2,000 / 24 hours worth of Bitcoin.
- You can only invest in Bitcoin right now.
FAQ
How to choose the best cryptocurrency exchanges?
It depends on the different requirements of the users. The best cryptocurrency exchanges may differ from person to person as one size does not fit for all. Some people want easy to use interface. Some user prefers more secure exchanges. In my opinion, I will go with Coinbase or Binance.
Best cryptocurrency exchanges for beginners?
New to cryptocurrency exchanges, don’t worry. It would help if you chose easy to use and beginner-friendly. Most of them have a straightforward UI. You will not find difficulty while using the top and best cryptocurrency exchanges. Coinbase has the best and simple interface. I am not the only one saying that. Many users also realize and believe that Coinbase is simple and easy to use.
Difference Between Crypto Exchanges and Brokerages?
A crypto exchange – It is a platform where you exchange cryptocurrencies with other sellers or buyers. The exchange platform acts as a middleman. It connects you with another person.
However, Brokerage is a platform where you exchange your crypto coins without any third party’s interference. There is no other person.
Just for simplicity ‘Exchange’ term is used for both Exchanges and Brokerages.
Final Thoughts…
Ahoy folks, these were the very best cryptocurrency exchanges that you should use if you want to get into crypto trading. We think that Binance and Coinbase are the best exchanges right now but many good ones are also coming up.
Also Read: Best Cryptocurrencies | 6 Most Popular Cryptocurrencies
So, what are your thoughts on these best cryptocurrency exchanges? Have you ever traded a cryptocurrency? If not, why? Let us know in the comments below…