Lots of people are wondering what the best cryptocurrency exchange is. Spoiler alert. You won’t get us to name the best one out there. It’s not that there aren’t preferences. It’s just that every trader has specific needs for trading. If you told another trader that Coinbase was the best cryptocurrency exchange out there, but that trader lived in a country where Coinbase didn’t allow trades, that information would be pretty worthless.
So instead of telling you what the best cryptocurrency exchange is, you’ll find out what to look for so you can find the best cryptocurrency exchange for you.
What Do You Want to Trade?
There are some exchanges that only allow certain coins. If you are looking for a Bitcoin-only exchange, you might like BTCC, based out of China, Gemini, located in New York, or Japan’s Coincheck.
However, if you are looking for exchanges where you can trade other lots of altcoins, you can try Cryptobulls or Latoken. Both are multi-cryptocurrency exchanges, and both earned four stars from CryptoCompare.com.
Any of these might be the best cryptocurrency exchange for you.
Where Do You Want to Trade?
The cryptocurrency is a worldwide market, but that doesn’t mean that people can trade in any exchange that they want. Different exchanges have different residency rules, and many will only service customers in countries where they are familiar with the regulatory landscape of the country.
Before you can decide which is the best cryptocurrency exchange for you, try a few different ones to make sure you have access to make trades.
How Would You Like To Buy That?
Your preferred method of purchase can go a long way into determining the best cryptocurrency exchange for you. Some exchanges will allow purchases with PayPal, while others accept credit cards. Some require bank transfers, while others will only allow purchases by other cryptocurrencies.
Some exchanges are capable of processing transactions instantly, while others can take days and even weeks. This is important information to look into when you are investigating the best cryptocurrency exchange for you.
Not all exchanges are created equally. Some have state of the art, well thought out user interfaces, which lead to delightful user experiences when trading. Other sites feel like they were designed by a high school student, and while the exchange works perfectly well, it can be difficult to find the right things to click to make a transaction happen. Before you can find the best cryptocurrency exchange, try them out and see what feels good.
There are three different types of exchanges. One acts as a trading platform, where buyers and sellers place orders, and only interact with the platform itself.
The second type is a peer to peer, or P2P exchange. Buyers and sellers engage with one another directly, requiring both parties to agree to any transaction, while avoiding network congestion occasionally found on typical exchanges.
The third type relies on a broker, where buyers can buy cryptocurrencies through the platform.
So which is the best cryptocurrency exchange? It really depends on what you need.
Once you have your best currency exchange, join our weekly webinar series and learn how to become a great trader