Best Exchanges For Trading Bitcoin in 2020: Updated
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Noticing the global economic condition and inflationary nature of the nation's currency, people are loving Bitcoin because of its decentralised nature, i.e. not backed by any central authority but "miners" do the needful by approving the transaction. Thus, if you are interested in starting trading or wanting to switch among the exchanges or wish to know about best bitcoin exchanges, then get through this quick guide.
Best Exchanges For Trading Bitcoin (Cryptocoin): Let's Get Started
Crypto exchange or bitcoin exchange is the online marketplace (in the form of websites) which bridges the gap between buyers and sellers of bitcoin. Exchanges facilitate the trade of bitcoins with other cryptocurrencies and with fiat currency too.
Bitcointalk was the only medium for peer-to-peer buying and selling of bitcoin till the first bitcoin exchange "Bitcoinmarket.com" launched in 2010. Since then, the bitcoin marketplace has been expanding, and new websites or platforms are popping up in crypto space one or the other day. To track the record of the top bitcoin exchange sites is quite tricky, but the innovative marketing tools, research groups and updated guides are performing the task efficiently for crypto enthusiasts.
So, let us move forward with the updated list of best bitcoin exchanges for trading bitcoin.
Binance (Unbeatable In Crypto Space)
Malta-based crypto exchange Binance is one of the popular trading websites for crypto-to-crypto trading. Founded by Changpeng Zhao in 2017, Binance now facilitates the crypto traders in almost 130 countries. Low trading fees and a highly secured transparent network can attract you to choose Binance for trading purposes. Ideal for both small and big buyers as it offers a massive number of services like lending, staking, marginal trading, future trading and tokens like BTC, Eth, Tether etc. with its native token BNB. Availability of user-friendly mobile app for both Android and iOS users makes it in the list of best cryptocurrency exchanges for trading bitcoin. Binance exchange offers you to trade with high maximum limits and with both credit and debit transfers but not with wire transfers.
Coinbase (Adopted By Masses)
US-based crypto exchange, Coinbase was founded in 2012 and was the first among the other crypto trading platforms to introduce BTC and ETH to the mass population. Operability in around 40 countries with more than 30 trading pairs makes Coinbase a go-to site for trading. Either you want to trade fiat to crypto or crypto to fiat, then a single mobile or desktop interface of Coinbase can be your preference exchange for trading. Credit card, debit card and bank transfers are the allowed mode of payment (OOps!! Paypal is not being supported) for trading or exchanging your digital coins.
BitFinex (Advanced Trading Platform)
Giancarlo Devasini founded Bitfinex in 2012 for the superior trading experience in the crypto marketplace. Exchanges which innovative trading tools brag for the massive trading volumes and high liquidity in the exchanges. If you wish to consider BitFinex as the option for crypto trading, you won't get disappointed as you will have plenty of trading options, trading pairs and multiple modes of payment methods. Bitfinex has to attract if you either belong to Hong Kong, Japan or South Korea, as it supports bank transfers in the mentioned Asian countries. Deposit fees and complicated signup process may be considered as the drawbacks of this platform.
Coinmama (Anywhere And Everywhere!)
Either you are in the US, or you are in India, you can trade in cryptos anywhere across the globe with your Visa/MasterCard Credit card or debit card with the help of the leading crypto platform, Coinmama. It allows you to maintain your anonymity (till the buy of $150 worth BTC) while making the trade as it does not mandate the need for wallets of third party exchange to store your currency. You can experience the hassle-free and quick buying and selling process (though you will be charged high transaction fees!) while trading with Coinmama, thereby making it part of the list of top bitcoin trading platforms.
Cex.io (Broker and Exchange)
Since 2013, CEX has served as both broker and exchange for the millions of crypto traders. One of the reasons which include it in the list of best exchanges for trading bitcoin is that it facilitates trade in almost all major fiat currencies(USD, Euro etc.) against popular cryptocurrencies(BTC, Eth etc.).Free bank transfers (Verified accounts) and minimal transaction fees(unverified accounts) is charged while trading on the platform of CEX.io.Due to its limited coverage of nations; the platform could not diversify its reach in 7 years.
LocalBitcoins (P2P Exchange)
Bitcoin P2P exchange, LocalBitcoins has been based in Finland since 2012 and facilitates bitcoin trading via an escrow account. This crypto platform connects you to the traders of more than 15000 cities (200 countries) across the globe. LocalBitcoins acts as an interface between the buyers and sellers to decide the number of coins for trade, mode of payment and also the price for trading BTC. One of the advantages which makes it popular among the traders is that it allows the trading regardless of any crypto or financial laws. Higher transaction fees and chances of fraudulent sellers or buyers make the platform risky for trading cryptocurrencies.
Changelly(Anonymous Crypto Transfers)
Relatively new platform than other mentioned exchanges but with increasing popularity in crypto markets, Changelly provides anonymous crypto-to-crypto transfers with no intermediary. This platform is meant for exchanging crypto coins, not specifically for trading or investing purposes. The diverse range of crypto coins with competitive exchange rates can be the added advantages provided by Changelly for its users. The process of submitting the documents and verification can be skipped while initiating the process of exchanging of coins. It is a unique crypto platform which indirectly facilitates the trading in bitcoins made its place with best exchanges for trading bitcoin in 2020.
Nonetheless, many centralised and decentralized exchanges, brokers companies, trading platforms etc. are available in the crypto space to provide the services and innovative tools for trading bitcoins. Here, we have provided a list of a few of the best bitcoin exchanges which can help you to initiate your trading or even if you wanted to switch to a better exchange.
Thus, choosing any of the exchanges, make sure it provides enough liquidity, highly secure bitcoin storage facility and hassle-free trading and management of crypto assets.