A secure and trustworthy exchange is your gate to the Bitcoin world, so we collected the Best Bitcoin exchanges 2017 in one list for you. Dig in!
3 October, AtoZForex – Bitcoin is a highly volatile and risky asset as is. Investing in the most popular cryptocurrency comes with a heavy burden that many investors choose not to carry. However, the daring traders who place their funds in bitcoin should not have to worry about the security of their funds.
Despite its online public ledger that makes its blockchain network practically impossible to hack, bitcoin experienced a number of major thefts and scams. The loss of 850,000 bitcoins in 2014 was a major defining moment for the virtual currency.
Japanese bitcoin exchange Mt. Gox was the victim of the massive loss, which amounted to $450 million at the time and led to the exchange’s bankruptcy. Mt. Gox had lost another 500,000 bitcoins in 2011 due to a hack.
How to choose the Best Bitcoin exchange?
Due to bitcoin’s history of theft, safety and security became a top priority for investors choosing a bitcoin exchange. The reputation of the exchange you will use to trade should be a major factor in your final decision.
Another deciding factor is an amount of fees the exchange charges for deposits, withdrawals, and transactions. Offered exchange rates, required verifications, and available deposit methods are also important factors to consider.
The selection of the Best Bitcoin Exchanges 2017
Coinbase is one of the most trusted and famous bitcoin exchanges in the world. This trading platform was established in 2012 and has gained a huge popularity since then. Coinbase offers an easy-to-use system for buying, selling, and using bitcoin, as well as Ethereum and Litecoin.
Coinbase accepts clients from 32 countries and takes no fee for deposits and withdrawals. However, the firm applies a 1% flat fee for each transaction. For this fee, you get to enjoy secure trades and safety of funds, as Coinbase insurance covers your stored bitcoins.
Nonetheless, the verification process can be a bit tedious, and the available deposit options are somewhat limited.
This London-based bitcoin exchange was established in 2013, before quickly gaining popularity in Western countries. In addition to its good reputation and on-point exchange rates, Cex.io offers multiple trading methods that fit beginners and professionals.
The exchange accepts deposits through credit card and bank transfers, which fits perfectly with its worldwide support. In addition to that, Cex.io allows payments in euro, US dollar, British pound, and Russian rubles.
On the downside, deposits are expensive, and while Cex.io supports Ethereum, the exchange no longer supports Litecoin.
Kraken launched in 2011 and has gradually rooted itself as one of the top bitcoin exchanges in the world. Despite having its headquarters in California, the firm is the largest bitcoin exchange in euro volume.
An easy verification process and a good integration with the Single Euro Payments Area captured the European demand for exchanging bitcoin. This year, the exchange added a wider range of cryptocurrencies to its platform.
Although the advantages include worldwide support and low transaction and deposit fees, disadvantages include limited deposit methods and an unintuitive trading interface.
This article “Best Bitcoin Exchanges 2017” was written by Yahia Barakah. Yahia is driven by a passion for decoding markets to make them accessible to all traders regardless of their experiences.
He has a broad experience in most major asset classes that fuses with his market analysis to provide coherent insights.
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