With the recent wild ride in the crypto markets, a lot of people are looking for the best exchange to buy and sell cryptocurrencies. There are many factors that determine which one is best for you—whether you’re looking for convenience, anonymity, or cheap fees.
Finding the right exchange for your cryptocurrency can be difficult. There are a lot of services out there, and most of them look very similar. This post will take you through some of the main things to consider when trying to choose the best place to buy and sell cryptocurrencies.
What To Look For in A Crypto Exchange?
When you’re looking to trade cryptocurrency, it’s important to get the best deal on the market. Many exchanges charge exorbitant fees for their services because they’re not as actively used as other exchanges that can charge higher rates due to increased volume.
- When looking for a crypto exchange, you want to look for one that has been around for at least a couple years, and preferably more like 5 or even 10.
- Make sure they provide 2-factor authentication (2FA) options, i.e. text message or email codes sent to your phone that you enter along with your password so hackers can’t log into your account even if they figure out your password.
- If possible, look for an exchange that specializes in Bitcoin—some exchanges have more limited coin offerings than others.
- Also make sure you look at the fees associated with each transaction—a good exchange will have low fees to encourage trading activity on their platform.
- Some exchanges (called “hybrid” exchanges) are also wallet providers; this means that when you store your coins there, they’re actually stored in your own personal wallet on the exchange’s site. This can be a huge plus because it’s easier to trade coins when you don’t have to transfer them into and out of some separate wallet service every time.
- A lot of deposit methods; this shows that the owners anticipate that people will be trading frequently and want to make it easy for them.
- A good variety of cryptocurrencies: not all exchanges have as wide options as others, so if one exchange only deals in Bitcoin and Ethereum, it doesn’t mean it’s bad—but you may also have trouble finding your favorite altcoins there.
Top Crypto Exchange With Affordable Fees
Kucoin
KUCOIN is a leading exchange that offers crypto-to-crypto transactions. It has an easy to understand interface and it allows its users to trade in a secure environment. One of the key features of KUCOIN is its low transaction fees. In addition, all types of assets are available, including fiat pairs such as EUR / USD. The platform is integrated with the most popular payment methods, such as PayPal and credit cards.
What makes KuCoin unique is that it offers rewards for using the exchange and for holding coins on the platform.
KuCoin gives 50% of its overall fees to users who hold KuCoin Shares (KCS), which you can buy on their exchange, and anyone who trades on their platform. This incentive has led to a large number of people buying KCS coin to benefit from the 50% fee discount. The discount applies to all fees on the platform, including but not limited to trading fees, deposit/withdrawal fees, and listing fees.
Users can trade their Kucoin shares to Tether KCS USDT, BTC, ETH, LTC, XRP and more.
Bittrex
Bittrex is an exchange that combines the power of high volume with the convenience of low fees.
It all starts with Bittrex’s innovative design, which allows you to trade any cryptocurrency pair you want and then automatically convert it into any other available cryptocurrency. You can trade one token for another, or use your existing coins to purchase a new one. This allows you to invest in a number of different cryptocurrencies at once from one place.
Pionex
Pionex is a crypto exchange that offers strong security features, low fees and high liquidity. The team behind the project has been working on the management of crypto assets since 2013. Pionex has a well-thought-out approach based on a user-friendly interface and an API that allows developers to integrate the exchange into third party applications.
The platform also offers its clients several tools for technical analysis of the market and its trends. All user accounts are protected by two-factor authentication. Pionex uses cold storage to secure its users’ funds, which means that all private keys are stored offline.
Bitstamp
Bitstamp is a secure, easy-to-use exchange for buying, selling and trading bitcoins. The company was founded in 2011 and operates out of Slovenia, as the company’s website notes (bitstamp.net).
Bitstamp boasts low fees, a variety of funding options and security measures that make it possible to trade bitcoins in large amounts quickly and easily. With over 800,000 bitcoins traded per month, bitstamp has established itself as one of the most popular exchanges on the market.
Binance
Binance is a crypto exchange that’s been growing in popularity. A crypto exchange is one that allows people to trade cryptocurrencies, and Binance is one of that. They have a 0.1% fee for trading and withdrawals, which are some of the lowest fees I’ve seen.
Unlike many other exchanges, this one has its own token that can be used to pay for discounted trading fees and also used to vote on new coin listings. If you’re holding Binance Coin (BNB) then you get discounts on your trading fees, which can save quite a bit of money over time!
