What CryptoCurrency Exchange Services should I use?
It’s one of the most common questions in the crypto-world, from both beginners just starting out, to experienced crypto-users looking to diversify their coins.
To do any kind of cryptocurrency exchange, you need a wallet to store whatever coins you may have (be it Bitcoin, Litecoin, Ethereum, Ripple etc.) and in many cases you can buy the coins directly from the wallet service.
Let’s take a look at some of the best wallets with exchange services:
- Coinbase is one of the most popular global digital asset exchange company (GDAX) and a valued place to buy and sell digital currencies. Coinbase supports Bitcoin, Ethereum and Litecoin wallets, and offers exchange services for fiat currencies in 32 countries. The platform is beginner-friendly and offers everything you need to dive into digital currencies without getting bogged down in the underlying technology. They also handle all of the security and backups so you don’t have to worry about it.
- Exodus is a multi-cryptocurrency wallet that is beginner friendly and has an easy-to-use UI. It is recommended to watch their excellent demo video as it explains how their service works. It supports multiple coins, such as Aragon, Augur, BAT, Bitcoin, Bitcoin Cash, Civic, Dash, Decred, District0x, EOS, Ethereum, ETH Classic, FunFair, Gnosis, Golem, Litecoin, OmiseGo, Qtum (ERC20) and SALT, all in the same plate so you can easily visualize them in easy-to-understand charts and graphs. They also offer backup options for extra safety.
- Poloniex is a crypto-to-crypto exchange service based in the United States. It provides a wealth of features to create a fully immersive trading experience with technical charts and live statistics to make sure you have everything you need. It’s usually not beginners’ first choice but it is easy to understand and provides great help and support to get you up and running. It offers good security and decent volume and orderbook depth for the majority of its trading pairs.
- Binance is a cryptocurrency exchange that’s been gaining a lot of momentum recently, sitting in the top 20 exchanges by volume. It has a particularly strong volume in various altcoins and also offers BNB, the exchange’s homegrown currency called Binance Coin. Binance is also known for its low trading fees (0.1%, or even 0.05% when trading with their own BNB cryptocurrency). It promises strong security with multi-layer authentification, support across desktop and mobile platforms and accepts trades in 50+ cryptocurrencies with new ones added frequently.
- Gatehub is a Bitcoin, Ripple, Ethereum, Ethereum Classic and Augur wallet. It allows users to store, send and exchange these cryptocurrencies in a built-in exchange. All private keys and passwords are hashed and encrypted using industry standard algorithms, even GateHub cannot access them.
Other than the exchanges listed above, there are few other names which can be reviewed by investors and traders in Bitcoins and other digital currencies, they are Bitstamp. Bitfinex, Bittrex, Kraken etc. With more than 60 trading platforms available, there is sure a lot of choices available but the selection should be done after weighing features like liquidity, fee schedule, country (headquarters), trading facilities, user reviews and years active.
“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.”
~ Leon Louw, Nobel Peace Prize Nominee