Do you want to start investing in cryptocurrency but don’t know where to begin? Don’t worry, you’re not alone. Most people who want to invest in cryptocurrency don’t know where they can buy and sell digital currency – and even fewer know how to avoid getting scammed along the way. To help with this issue, we put together a list of the 10 best cryptocurrency exchanges so you can start trading and investing safely and securely. Find out more below!
1) Coinbase
Coinbase is one of the world’s largest cryptocurrency exchanges. It offers a variety of payment methods for US and European users, including credit card, wire transfer, and ACH bank transfer. With so many payment options to choose from, Coinbase is an ideal platform for buying cryptocurrency if you’re just getting started with trading.
The company also operates two exchange platforms: GDAX for professional traders and institutions; and Coinbase Pro (or formerly GDAX) which offers many more tools for active traders than its sister platform at a lower cost than on GDAX. If you want to start investing in cryptocurrency but aren’t sure where to begin or what kind of exchange to use, Coinbase can be a great place to get started.
2) Binance
Binance is a popular, easy-to-use trading platform that allows you to trade Bitcoin and Ethereum. This guide will show you how to open an account with Binance and buy Ethereum using Bitcoin. It’s important to point out that exchanging Bitcoin for Ethereum can be EASIER than buying Bitcoin directly on Coinbase.
If you own any amount of BTC, I highly recommend using Coinbase as a platform to purchase ETH from instead of exchanges like Binance because it offers one of, if not THE lowest fees for purchasing crypto via credit/debit card. Buying crypto at exchanges like Binance or Gatehub can cost twice as much in fees! The other reason I prefer Coinbase over exchanges like Binance is that the site is easier to use and navigate around.
3) Kraken
This exchange is based in San Francisco, California and was founded in 2011. Kraken is known for their fast trading platform. They support more than 15 different cryptocurrencies. This includes Bitcoin, Litecoin, Ethereum, Dash and Dogecoin.
The fees on these transactions are between 0% to 0.26%. You can trade cryptos like Monero (XMR), Ethereum Classic (ETC), Ripple (XRP) and many others with lower fees of 0% to 0.1%. Their platform also supports stop loss orders which you can set to help minimize your losses if things go south quickly.
4) Bitstamp
First on our list is Bitstamp, a European cryptocurrency exchange that’s been operating since 2011. The company is based in Luxembourg, but it also has branch offices in New York City and London. Bitstamp has more than 3 million registered users who are trading around 6 million euros worth of digital currencies per day on average, making it one of Europe’s most popular exchanges for both bitcoin and ether. And when we say digital currencies, we mean exactly that: there’s no option to trade fiat currency here — only cryptocurrency.
5) Bittrex
Bittrex is a US-based cryptocurrency exchange that supports over 190 cryptocurrencies. Bittrex was founded in 2014 by three cybersecurity engineers. The founders saw a need for a platform that could bridge cryptocurrencies with fiat money, to provide people an easy way to invest in crypto while maintaining their privacy.
With Bittrex’s focus on providing high-quality customer service and more than 200 trading pairs on offer, it is no wonder that Bittrex is consistently rated as one of world’s most popular exchanges by users and industry leaders alike. Many notable individuals in both tech and finance choose to trade on Bittrex due to its state-of-the-art infrastructure, which supports around 1 million users every day.
6) Poloniex
Poloniex is one of only a few platforms that offer a wide selection of altcoins. Users can easily swap between coins or tokens, making it easy to diversify your portfolio. For more experienced traders, Poloniex offers margin trading and lending services (plus corporate accounts for larger traders).
There are lots of videos available on YouTube that show how to trade on Poloniex. If you’re looking for a detailed guide to trading on Poloniex, take a look at our comprehensive guide here.
7) GDAX
GDAX is owned by Coinbase, one of the most popular cryptocurrency exchanges. While Coinbase focuses on more mainstream coins, GDAX does not support any fiat currencies. Instead, it only supports trading between cryptocurrencies. If you are looking to trade professionally and have access to fancy trading tools, then Binance is a better option for you. If you’re just starting out with cryptocurrency trading, then GDAX is a great option because it offers basic exchange functionality that will give you enough exposure to what’s going on in the market if you’re just starting out.
8) Bitfinex
Bitfinex is another cryptocurrency exchange in which you can buy, sell and trade cryptocurrencies. It’s unique in that it has several advanced features including leveraged margin trading, short selling and liquidity swaps. If you’re looking for a high-volume exchange, look no further than Bitfinex. Fees are around 0.2%.
9) Gemini
You can’t buy bitcoin through a traditional brokerage account, and fees will vary depending on what you decide to trade. However, it’s worth noting that Gemini does offer several tiers of accounts with varying fee structures. While its fees fall within typical ranges for other online brokers – it’s comparable to E-Trade and Fidelity – trading cryptocurrency does come at a cost.
The platform doesn’t make purchasing cryptocurrencies easy, which is a drawback given its ambitions to be an exchange. Still, if you know how to trade manually or want to explore more advanced trading strategies, Gemini could be a good fit. (See also: A Look At The Most Popular Bitcoin Exchanges)
10) Luno
Established in 2013, Luno is one of world’s largest and fastest growing exchanges for buying and selling Bitcoin (BTC) and Ethereum (ETH). They also support Bitcoin Cash (BCH), Dash (DASH), Litecoin (LTC), Komodo (KMD) and Dogecoin (DOGE).
You can use Luno to buy cryptocurrencies with your bank account or credit card. Fees: Varies by transaction type. CEX: CEX has been around since 2013 as well. It also supports BTC, ETH, BCH, DASH, LTC, XRP, XLM and USD/EUR fiat trading pairs. The exchange will let you pay for a trade with a credit card or bank transfer if you want to bypass fees altogether.
Crypto Exchanges in Pakistan
What is a Cryptocurrency Exchange?
A cryptocurrency exchange is a platform used to buy and sell digital currency. Digital currency can be used for numerous applications, from business-to-business (B2B) payments, remittances and money transfers, investment portfolios, assets or simply as a method of payment for goods or services. It’s important for any crypto investor looking to diversify their portfolio and trade digital assets that they make sure their choice of exchange is secure and reliable.
What Are The Different Types of Cryptocurrency Exchange
There are two basic types of cryptocurrency exchange you can use: centralized and decentralized. Centralized exchanges are large platforms that hold all your coins and offer you trading pairs with other coins, while decentralized exchanges simply allow you to trade one coin for another. Keep in mind that each type of exchange has its pros and cons. If convenience is what you’re after, then a centralized exchange will serve you well; if privacy is your goal, then it’s probably best to stay away from these types of exchanges altogether.
Where Can I Buy Bitcoin and Other Cryptocurrencies In Pakistan?
There are a number of exchanges for buying and selling cryptocurrencies, but it’s best to start with a few established, trustworthy companies. If you’re new to trading digital currencies, you can check out Coinbase, Coinmama or Bitstamp.
A good crypto exchange is an essential piece of any investor’s toolkit. It’s a place where you can not only buy and sell cryptocurrency, but also engage in arbitrage opportunities. The trick is finding a crypto exchange that works for you. If you live in Pakistan, your options are limited by your location.
Conclusion
In sum, if you’re looking for a way to invest in cryptocurrency as a beginner, you’ll have an easier time going through an exchange. The idea of going on a platform and making a trade directly with another person is thrilling, but also scary for new users. You don’t want to screw up, or miss out on a good opportunity—but on top of that, you have very little control over security and your personal information. Think about whether having access to better customer support and research tools is worth missing out on some of those profits from doing things yourself.
