Cryptocurrencies like Bitcoin, Ether, Litecoin, and other altcoins (Alt Coin) have exploded onto the scene over the last couple of years. There are now hundreds of them, each with varying characteristics. The key to choosing the right one for you lies in understanding their differences, plus the pros and cons of each exchange. Here’s a quick rundown of the top three exchanges where you’ll want to invest your time discovering coins.
Coinbase is an American cryptocurrency exchange based out of San Francisco. They’re best known for their competitive fees and outstanding Australian casino service. Their platform also makes it simple to buy crypto coins with a credit card or bank account. However, they don’t support fiat currency deposits on the platform. Instead, users can only deposit using cryptocurrencies.
- Easy registration process
- Low trading fees
- Supports both debit and credit cards
- No support for fiat currencies
- Not as many coins available as some competitors
Bitfinex is another leading US-based cryptocurrency exchange that has been around since 2012. It offers much more flexibility than its competitor Coinbase, allowing users to trade without restrictions. Users can start by buying BTCUSD directly from the Bitfinex website, or trade with almost any other coin. This means that even if you’re not interested in trading bitcoin against the dollar, you can still get exposure to most major crypto assets.
- High liquidity for most coins and markets
- Largest selection of coins
- Good variety of markets including Forex
- Great API
- Prices may be higher than others
- You can’t easily purchase bitcoin with fiat through this exchange
Kraken was founded in 2011 at FinTechWeek in London and quickly gained popularity after launching in 2013. It’s been featured in Business Insider, CNET, and NASDAQ among others. Today, Kraken boasts a wide range of digital asset trading pairs and advanced tools such as margin trading, stop orders, and market takers insurance. It offers two ways to make trades; either via their web platform or with their mobile app.
- Fully regulated UK Exchange
- Support for multiple payment methods including SEPA, Maestro, MasterCard, Visa, Bank Wire, and Credit Cards
- Consistent Customer Service
- Fast Market Making and Instant Transfers
The Final Verdict
While crypto is generally linked with shady types, rivernilecasino casino online gamblers, and many other shameful stereotypes, there are actually many legitimate reasons why people should consider investing in these digital assets. While most traders will continue to use centralized exchanges such as Coinbase, Kraken, and Gemini, there is no denying how powerful decentralized exchanges offer…