Few of the important points to look out for while selecting any Bitcoin exchange are its currency support, reputation and transaction fees.
Let us look at some of the leading bitcoin exchanges that you can select from.
Leading Bitcoin Exchanges
What to look for while choosing a Bitcoin exchange?
There are several things you will have to look into to find the right exchange, let us look at what they are.
- Check how much would be the transaction fees that any exchange charges.
- Examine which virtual cryptocurrencies the exchange supports.
- Analyze whether the exchange utilizes stringent security measures such as encrypted mails, 2-factor authentication, wallet monitoring, email alerts, etc.
- Check if the exchange is achieving higher trading volume which means it maintains high liquidity and gets greater number of trading pairs.
Let us now check the leading Bitcoin exchanges that you can choose from.
The Leading Bitcoin Exchanges
It is by far the biggest exchange that provides a very streamlined interface, offers large cryptocurrency support and you can also avail insurance protection. Some of the other details as available from Coinbase are:
- So far digital currency worth $50 billion has been exchanged on Coinbase.
- It supports as many as 32 countries.
- As of this writing, Coinbase has served about 10 million customers.
Coinbase also offers mobile wallet, provides secure offline storage and facilitates recurring buys so that you can slowly invest in cryptocurrencies by scheduling purchases on monthly or weekly basis.
The other good thing about Coinbase is that it has an easy to use user interface which is helpful for novice traders.
Fiat currencies it supports includes:
- US Dollar
- British Pound
- Canadian Dollar
- Singapore Dollar
- Australian Dollar
— Coinbase (@coinbase) February 17, 2018
Lastly, you will have to pay a flat fee of one percent for purchase but withdrawals as well as deposits can be made without having to pay any type of fees.
#2: Gemini Exchange
Gemini exchange has been set up by Winklevoss Twins (who sued Mark Zuckerberg for stealing their idea to develop a social networking website, eventually winning the case to get $65 million).
Gemini exchange is in New York and available in forty-five US states and also in other countries such as Singapore, Hong Kong, UK and South Korea.