Bitcoin is one of the most popular digital currency on the planet for a number of reasons like that is anonymous, records on the public ledger in the form of the blockchain, no middlemen involved, direct person to person, very low transaction fee, Real-time transaction execution, No government tax, etc. Except for Bitcoins, Cryptoworld has more than 1500+ crypto coins. These total coins capitalization is more than 450 Billion (April 30, 2018).
Everyday various crypto trading platform performs more than 40+ billion trading within only 24+ hours; This is highly growing industry. If you also highly interested want to perform your day to day trading or want to buy some bitcoins or other alternatives coins like DASH, XMR, LTC, XRP, EOS or more, then these Bitcoin Trading platforms can help you.
So in this piece I’ll walk you through some of the best Bitcoin market and trading platforms existing in the industry.
Before diving into this list on some of the Bitcoin Trading Platform, let’s share some points on what makes them the best, or what you should be eyeing for when searching for the best Bitcoin trading platforms.
Let’s understand the all best bitcoin exchange markets info by the help if top 10 Table. The table will help you for quick understand which best trading platform for the cryptocurrency.
10 Best Bitcoin Exchange for Trading
|RANK||Markets||Website||Buy/Deposit/Withdraw||Trade Fee:||Pros | Cons|
|Supported Coins: |
BTC, ETH, BCH, DASH, XRP, Zcash, BTG
|Wire Transfer: YES|
Credit Card: YES
Debit Card: YES
Crypto Coins: YES
|Deposit Fee: YES|
Withdrawal Fee: YES
Trading Fee: 0.1%
Margin Trading: YES
Quick Account Approval
Limited Coins Supports
Account Varification Available
|Supported Coins: Bitcoins||Wire Transfer: YES|
Credit Card: YES
Debit Card: YES
Crypto Coins: YES
Other Options Available
|Deposit Fee: NO|
Withdrawal Fee: NO
Trading Fee: 1%
Margin Trading: NO
Quick Account Approval
Only Bitcoin Support
Account Varification Available
|Supported Coins: 300+ Coins; |
BTC, ETH, BCH, DASH, XRP
|Wire Transfer: NO|
Credit Card: NO
Debit Card: NO
Crypto Coins: YES
|Deposit Fee: NO|
Withdrawal Fee: NO
Trading Fee: 0.05% to 0.1
Margin Trading: NO
Quick Account Approval
Wide Range Coins Supports
If you are not getting sufficient information and still looking more crypto trading platform with description then you may go ahead, below I a describing every point that you should know before joining any listed bitcoin trading exchange. Let’s go!
What to Look Out for Before Joining an Exchange
This is the complete guide that will help you to understand all concept about any bitcoins and what specific criteria you need to take in your mind before sign up on these crypto exchanges.
Note: Before anything, I want to tell you one thing. If you are not the day trader and want to hold your cryptocurrencies for a long time then never leave your crypto coins any of these exchanges. Always hold your cryptocurrencies in the associated crypto wallets.
- Reputation – Reputation always major points that define everything about the brand, in same scenario. Here also you need to check these best bitcoin exchanges reputation, like his review, previous users thoughts, and website status. All type queries, you may try any social media sites, like reddit, Facebook, Twitter or also can check available forums. I am recommending you, Reddit or Forums because both platforms drive real-time queries. That can help you to understand the reputation of these listed exchanges.
- Security – Another point that can help you to identify the right platform, that can protect your money. Security is because if bitcoin exchange doesn’t take seriously to his platform security, then you may lose your money within a second that’s why check out security measure points and also notify privacy points. Here I notice privacy because these days, governments want to regulate cryptocurrency that’s why they are controlling on these exchanges, for example: before couple days ago, Coinbase share his 32000 users data to IRS. Which is not good for every crypto users. If your privacy matter for you, then please focus on this point.
- Fees – Inside this point, If you are day trader than fee will matter for you, because day trader performs many transactions within the single day, if you focus on then fee, then you ca save your lot of money per month. Some bitcoin exchanges are taking a fee on every transaction like withdrawal, deposit, or trading. But some not, These depend on then bitcoins trading platforms.
- Payment Methods – I notify this point because mostly crypto trading exchanges only deals with bitcoins or other altcoins, but suppose you don’t have any crypto coins then how you will get your first cryptocurrency then definitely you will have an answer is, you will buy these coins with debit cards, credit cards or wire transfer. But mostly not offers these service and which crypto trading platform these service they always taking fee for these service.
- Verification Requirements – If you deal with mostly available secure crypto trading platform then they will definitely manually approve your accounts, in some cases they can varify your government approved documents with live selfy. Don’t panic; this is only for your security. In the CEX.IO case, they offer credit cards, debit cards, wire transfer withdrawal/deposit that’s why they first approve your cards or bank a/c detail before making any transaction.
- Geographical Restrictions – Geo Restriction because before signup, if you will signup on that type bitcoins trading exchange that are not offering service in your region then you can not perform any action on that type platform and you can’t withdraw your money on these platforms.
- Support – This is the last point that can clear which trading platform best for you If exchange support is not good then you may phase problem in ticket resolution, in some cases, I saw platforms reply to your ticket within 2 or 3 working days.
Factors to Look For in the Best Bitcoin Market
Bitcoin markets will without doubt share one common core point, that’s they all are there to facilitate the trading of Bitcoins. But there are quite a number of factors which makes them stand apart from the crowd and the reason why only some of the Bitcoin trading platforms are on this list and not the others.
a). Trade Volume
Trade volume gives you an insight of how much of Bitcoin the Bitcoin trading platform is handling on an average. If the number is high, it’s a clear indicator that the platform is trusted and has a good reputation.
Also it’s a general rule that trading platforms with more trade volume will find themselves closer to the average Bitcoin market value, while those with not as much trade value as them might venture away from that average.
(You wouldn’t want to miss the #10 on this list, especially in regards to Trade Volume!)
You can check the trade volume on the platforms themselves, or from a general trade volume index from Google.
b). Security Measures
Bitcoin is a digital currency, so it’s the equivalent of real money in the digital world, hence it’s important for the Bitcoin trading markets to make sure that there platform is as airtight as it can be.
So when choosing your Bitcoin trading platform you need to ensure that the platform you’re going with uses as many encryption protocols, security measures and methods to make sure your account and money are safe.
At the very least, a two-step verification is a must to begin with, after that there’s literally no end where this list ends, the more steps needed to get into your account, the better (even if it consumes a bit more time than general logins!)
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Obviously, there are various amount and types of charges or fee any Bitcoin market incurs on its customers and clients. How much is the fee, and what are the grounds on which it’s charged also goes on to tell a reveal a lot about the platform.
The most obvious charge pattern is the charge on your amount of currency on a percentile basis. The more currency you trade, the more amount you’ve got to pay as its percentage.
While others might use other models where only “Buyers” pay a fee and not sellers, or one of them pays a reduced fee, this model is called the “Maker-taker” model.
There are a lot of different payment methods, the trick here is to ensure what’s your purpose of using the platform, how much currency you’re trading, and which method or structure suits you best.
The percentile basis is the most used method because on a small-mid range it works best in the favor of the users, but if you’re trading a lot of currencies, the other models might be more profitable for you.
Now these aren’t “all” the factors which decide the popularity or efficiency of Bitcoin markets, but they are the most obvious, easily identifiable and influential ones for sure.
Best Bitcoin Trading Platforms full detail description.
Cex.io has it clearly listed on their homepage that it’s a Bitcoin market which facilitates simple Bitcoin trading, Bitcoin Wallet, where you can buy Bitcoins and sell Bitcoins, as simple as that. They have their base in almost 99% of the countries on the globe hence confirming their strong base in the Bitcoin market.
Starting with the payment methods, it supports a wide range of options including Credit/Debit Cards, Bank Transfer and even cryptocurrency!
As far as security goes, it has a strong encryption algorithm which protects it against any kind of potential threats, hence your currency is safe.
Also it has a special maker-taker model where the “maker” doesn’t have to pay any fee! Well yeah, it’s 0% for them, only the taker bears the fee and even then it’s pretty lucrative and not heavy on your pockets.
Or if you trade n bulk, in that case, it has a special high-volume trade fee structure so you pay lower than you normally would have to.
Read Review: Cex.io Crypto Exchange Review
Not to mention that it allows Margin Trading, where you can borrow money and hence trade more than you would have been able to on your own currency. It supports margins of 1:2 and 1:3 currently. And the best part is it’s all automated!
LocalBitcoins is a Bitcoin market with a totally different vision and environment. In simple words, it can be explained as a Bitcoin forum where you actually meet with the person who’s selling or buying your Bitcoins.”Ebay of Bitcoins” describes it just fine.
Because of the fact that you deal with a human and not an online market or computer, the exchange rate and payment method differs based on the person you’re trying to sell or buy it from, as they might be from different countries, have different currencies and might prefer different payment methods.
But this also ensures a wide-range of payment options, in fact, it can be said that LocalBitcoins supports almost every payment method on the planet, because if the other party wants a Paypal transfer, Wire-transfer or anything else, it doesn’t matter as you can always make it separately and there’s no involvement of LocalBitcoins on that front mandatory.
As a safety measure, you can check any person’s “public history“, so people with high scores indicate they’re legit and can be trusted. The Escrow service from Local Bitcoin ensures that the seller gets their money only after you’ve confirmed receiving of the Bitcoins, and vice-versa.
Obviously, two-step authentication is available and works towards making your LocalBitcoin account and wallet secure. If that’s not enough for you for some reason, there’s an extra security layer called “login guard” which makes sure you’re using the same device and same browser everytime, if not an extra e-mail confirmation is required to login.
Bottomline? LocalBitcoins is a Bitcoin market which decentralizes and humanizes Bitcoin trade.
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Coinbase is without doubt one of the best cryptocurrency trading market in the industry, it also is one of the most professional options when it comes to a Bitcoin market.
It offers simple buying and selling of Bitcoins, in one of the most secure environments in the industry.
It uses the “Dollar cost averaging” method and allows quite a bit of automation to you as a user. Primarily you can automate purchase and sales of Bitcoin without you having to touch the computer.
The initial “buying” limit is restricted to a lower amount, and is raised later when you start bitcoin trading more frequently and in higher amounts. You can use a Credit Card/Debit Card and any proof of identity to raise your limit with Coinbase.
The limit also varies based on your residence, type of citizenship and method used to purchase Bitcoins. The highest limit is $50,000 worth of Bitcoins/day for a completely native and/or verified US resident.
Also ACH payment method will clear you for a higher limit compared to using a Credit card for the same. It was initially launched only with “Wire transfer” as funds transfer method, but has been equipped with Credit/Debit and Paypal payments as well.
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The processing fee differs based on Payment method and country. It’s generally around the brackets of 1%-3.5% based on the difference in factors.
The only downside is, you’ve got to be professional while using Coinbase. If you’re trying to use Coinbase for anything that’s even remotely not on the brighter side of law, your account has a good chance of getting suspended.
LakeBTC is best known for its security measures and transaction fee, which equally competes with the fee of any other large Bitcoin trader in the industry since its early days.
The other feature worth pointing out is its huge currency support! It supports USD, HKD, GBP, AUD and almost all the other commonly used currencies.
It offers great liquidity to individuals and institutions as well, and is a part of some of the largest Bitcoin indexes on the planet including IRBA and CFTC.
They use a trader-maker model by default, where the taker pays 0.2% on all the transactions, while the fee for the maker differs based on different factors.
Free:– For makers with volume >20,000BTC
0.02% if the volume is >15,000 but <20,000
0.04% for >6,000 BTC
And it grows up to a mark of 0.15% if the volume is lower than 500 BTC and is then consistent till you cross the 500 BTC mark.
BitStamp is another giant in the line of facilitating Bitcoin trading in the Bitcoin market with an average 30-day trade volume of 222,000 (meaning lower Bitcoin prices and bulk buying opportunities for you!) And also is the first “Nationally Licensed Operator” on the planet.
The primary edge they get over other platforms is their ability to accept a number of currencies, ranging beyond just “US Dollars“, including Euros, British Pounds and Francs (Switzerland) as well!
As far as processing fee goes, it has a very simple calculation to that. It uses the “percentile” system we talked about, you generally pay 0.25% for $20,000 and it keeps dropping as the amount increases. The lowest mark being 0.10% at $20 Million!
You obviously get the two step authentication that almost every single Bitcoin market I’ve listed in this list accounts for, so in addition to your Password, you’ll also need to verify a custom OTP every time you try to login.
Although you can’t use “Paypal” to purchase Bitcoins, and that’s totally natural because of the “Refund” feature from Paypal which might lead to fraudulent activities from buyers if they are capable of reversing the transactions later.
The other factor which you might not be excited about is the fact that it does collect a bit of “personal” information, although nothing that’s too personal, and it gives us a clear insight so as to how the information will be used, and under what circumstances.
This is an extremely “Trade” focused Bitcoin market. But if that’s what you’re looking for, you’re exactly where you should be. Offering great Bitcoin pairs like JPY, GBP, EUR, USD it makes for one of the best Bitcoin trading platform in the industry.
Also, I personally love the security, it uses two-factor authentication just like any other security conscious Bitcoin market, in addition to its PGP and GPG encryption algorithms.
If that’s not enough you can also initiate a “Master Key” for added protection to your accounts.
Apart from the two-step authentication and encryption, it uses a “cold wallet” to store the digital currencies. Meaning all new deposits will be stored in an environment which is completely isolated from any online system.
It uses two other kinds of Bitcoin wallets, semi-cold and hot to store currencies for different purposes. Point being, it’s secure, period!
Another one of the features I love about Kraken is its ability to let you use “Leveraged trading”, meaning you’re allowed to use as many as 5x shorting!
Finally, it uses tier-based fee structure, which is in a way the opposite of the “percentile” system we’ve seen. In this system, the more currency you’re trading, the lower fee you’ll have to pay. And that fee is paid on a /trade basis and not on a renewal or scheduled time.
The “Maker” always has to pay a lower fee as a general rule for almost any other Bitcoin market, while the taker bears a bit steep fee amount.
7). itBit Trust
ItBit Trust has quite a number of factors why it can be trusted and is one of the first names in the Bitcoin market these days. First, it has been registered as a “trust”, so it operates in every state of the United States, and it has the deposits insured by the FDIC.
Secondly, its board of directors have been known to wield extreme power themselves, ranging from ex-US Senators to the chairman of the FDIC. Hence “trust” can’t be an issue with itBit Trust that’s established.
The fee structure is the “Taker and Maker” model, and it’s fixed. The taker has to pay 0.35% and the maker 0.50% transaction. Although they offer a “Personalized fee structure” for institutions or if you’re an avid trader.
As far as trade volume is concerned, it is 4,109.70XBT at the time of writing this piece, which is more than impressive.
To top it all up, they use 100% cold storage for storing their Bitcoins, so security once again is not something to be challanged with itBit Trust.
Even their APIs are boasted of as “Fix and Rest”, so if you’re someone who needs direct access to their back-end, or goes with API integrations, itBIt Trust won’t disappoint you.
BTC-E is one of the major Bitcoin trading platform in the industry. So much so that it holds a majority of trade percentage in the total global BTC trade, which was 2.5% of all the Bitcoins being traded on the planet in the early days.
BTC-E’s metatrader allows Bitcoin shorting on the ratio of 3:1. It allows withdrawal via some of the most common and popular payment portals, including Paypal, Webmoney, Perfectmoney, and Ukash!
It supports USD, Euro, British Pound, Ruble and even the Chinese Yuan! And not just that, other cryptocurrencies like Namecoin and Litecoin are accepted as well.
It also has a chatroom for buyers and sellers to interact so if you feel lost you can always get almost instant support from others without needing to get the support team involved.
Without a doubt, it offers two-factor authentication for an extra security layer on your account.
The transaction fee is 0.20%/transaction generally, but it might differ based on your location and currency. As the USD is charged as 0.50% /transaction and the same holds true for Rubles as well.
It has a current trade volume of $20,341,900 which accounts for 39.71% of the total trade volume on BTC-E.
BitQuick.co is a Bitcoin market that greatly resembles LocalBitcoins (just faster!). BitQuick too is a platform where you can find real people to interact with, and can buy or sell Bitcoins directly to them.
BitQuick acts as an escrow service between you and your other side, regardless of them being a buyer or a seller. The buyer pays a transaction fee of 2% (which is a bit high compared to other platforms out there to be honest!) , while it’s completely free for the sellers.
It’s best to use if you’re a seller and are looking to load off some BTC quickly. Again, as it’s “people powered”, the exchange rate and the payment method would vary depending on the person with whom you’re interacting.
But obviously you get more options as you can use any option even outside BitQuick to complete your transaction.
Put simply, they take the “hassle” out of any Bitcoin trade. As the name suggests, they’re fast, and simple, period. On an average, coins get reflected in your account within 20-30 minutes on a maximum (although a 3 hour grace period is officially demanded!)
They claim to be the world’s largest Bitcoin trading platform and well with a 24 hour trade volume of $128,743,404, it’s really acceptable isn’t it?
First and foremost reason why BitFinex deserves to be on this Bitcoin market list is because of their magnanimous trade volume!
With a trade volume of $625,808,722 for 7 days, and $1,425,215,354 for a month, they’re practically demanding trust.
Secondly, they claim to have the minimum slippage during an exchange, and support a wide range of options apart from Bitcoins, including Ethereum, Zcash, Litecoin and Monero to name just a few.
And their security measures are seriously one of the best I’ve ever seen with any Bitcoin market:
- Two-factor authentication
- Advanced Monitoring
- Login Data is monitored.
- IP Address based restrictions.
- Instant account freezing option via E-mail.
And that’s not all! They even monitor “Withdrawal requests”, and in case of a foreign IP address, or any unusual activity the request is paused and a manual inspection is commenced.
And another one of their features is the ability to let you add “Address Whitelist” so the only place your Bitcoin can go is that specific address and no where else.
The currency is stored in cold-storage, with only 0.5% of the currency being kept in hot-wallets for everyday transactions.
Even the cold-wallets are protected, and require high-level manual access from the team to be transferred anywhere else!
So the one thing you’re definitely getting with BitFinex is top-notch security for your funds.
They offer “Margin Trading” as well with a leverage of 3.3x which can be completely automated.
As far as interface or customization is concerned, they not only offer some of the best looking dashboards, but they can be completely customized from your end as well!
And obviously their API is advanced enough for you integrate with any of your custom made tools to monitor pre-made charts, create your own charts, edit orders automatically or anything else based on your skills and creativity.
Fee structure is based on the Maker-Taker model. It starts with a 0.100% for Makers, and 0.200% for takers percentage. And gradually decreases up to the point of $5,000,000, after which point the fee is completely revoked and trading is free for the makers.
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Final Words for Best Bitcoin Trading platform:
So that was the list on some of the best names which popup on ” Bitcoin Market ” talks in the online or offline world folks. If there are some other names you’d like to see up on this list, feel free to use the comment box.
Also note that the “trade volume” and other such real-time data is correct for the time of writing this article and might slightly differ by the time when you’re reading this piece.
Do let me know which Bitcoin market you use, and why! Also what are the factors you consider while choosing your best Cryptocurrency trading markets? The comment box is all yours.