With talk of Bitcoin becoming more mainstream, people have been thinking of becoming traders to optimize their profits. Thus here is a list of Bitcoin exchanges that they can start trading with.
The entire crypto market has experienced a massive boom since the past decade. With the crypto market getting more saturated, it is hard to determine which Bitcoin exchange to opt for.
If you are someone who does not have any prior experience with crypto trading then the first step is to choose a reliable cryptocurrency exchange. Many beginner traders make the mistake of signing up on any Bitcoin exchange sites they find. Which is a major pitfall that can expose them to scams and cost them a fortune.
However, don’t let the fear of accidentally choosing an unsafe exchange intimidate you into stepping away from crypto trading. Once you find the best crypto exchange for you. It might surprise you how easy and beneficial crypto trading can be when you use the right trading platform.
Here is a complete rundown of top Bitcoin exchanges to help you choose the right crypto exchange for your needs.
- Coinbase: Vast range of trading options
- Binance: Best for trading altcoins
- PrimeXBT: Best for trading CFDs on cryptocurrency
- BlockFi: Best for interest-earning accounts
Coinbase is the earliest U.S.-based crypto exchange platform introduced in 2012, it has become one of the largest bitcoin exchanges in existence. It is popular for its high volume trade among American cryptocurrency traders. Moreover, it is fully regulated, operating in more than 40 states and territories.
The trading platform offers up to 22 different crypto assets for trading on both its intuitive platform and its Global Digital Asset Exchange (GDAX) subsidiary that are accessible across U.S., U.K., Europe, Canada, Australia, and Singapore.
The key factor making it number one in this list of Bitcoin exchanges is that it allows fiat currency trading along with a proficient and easy to use UI (user interface). Which helps beginners to receive money directly within their accounts.
It does not matter which version of Coinbase app you choose, all of them are perfectly designed for both beginners and advanced traders, which mirrors its user-friendly online platform.
Binance has quite a reputation in the crypto world for it is top of the line trading options products and services. Since its development in 2017, it has expanded and grown into a high functioning global crypto exchange. Even though the exchange complies with U.S. regulations, residents of only 28 states can use it. Binance boasts exceptionally high trading volumes in the global exchange space making it one of the top Bitcoin exchanges in the world. It allows traders to trade fiat money along with multiple altcoins trading options.
However, the American traders are not allowed to make any USD deposits. They can buy a variety of crypto assets through different payment methods, including credit and debit cards or through EUR and GBP purchases.
Binance can also be named as the lowest fee Bitcoin exchange because it charges a 0.1% fee for both the taker and maker. These fees scale down with trading volume. In addition to low fees, if you trade in the platform’s native crypto, Binance Coin (BNB) then you will be rewarded with a 25% discount.
PrimeXBT is one of the best Bitcoin exchange sites to trade CFDs on Bitcoin, Ethereum, and a variety of other digital assets. Developed in 2018 Seychelles, it is accessible around 150 countries. While restricting services in the United States and Canada due to these countries’ stricter crypto-exchange regulations.
Even though PrimeXBT allows users to trade more than 50 assets of various kinds. The exchange only accepts payment via Bitcoin, not fiat currencies. Fortunately, you can easily convert your money to Bitcoin through the Changelly API.
BlockFi is best suited for interest-earning accounts. The platform is based and regulated by the U.S. Moreover, it has empowered traders to buy crypto and start earning on it since 2017.
It is backed by major crypto platforms such as SoFi and Fidelity. BlockFi provides a large collection of products for trading, including 11 cryptocurrencies.
The reason behind this platform for being on the list of Bitcoin exchanges is that BlockFi offers a 6% annual percentage yield (APY) on Bitcoin. Even higher APYs on some other cryptocurrencies. Use BlockFi’s handy interest calculator to get an idea of how much you will earn on your balance in each period of time.
Whether you’ve been a dedicated trader for a long time, or you are entering the world of cryptocurrency for the first time. You need to carefully consider all of your options when choosing the best crypto exchange for your needs. Hopefully, this list of Bitcoin exchanges will help you make an informed decision.