Cryptocurrency can be termed to be a new entity that can be used by people across the globe to trade as well as to enjoy faster returns on it, besides investing in commodities and stocks. Popular cryptocurrencies like Bitcoins can be sold and purchased directly. There have emerged several Bitcoin trading exchanges that can be used to continue trading in cryptocurrencies. Numerous exchanges do exist where Bitcoin trading is termed to be secured and safe. It also offers extended services to customers. Being a cryptocurrency trader or investor, the person is free to select any exchange present to suit own comfort and convenience. However, the person is strongly recommended to undertake thorough research to find out about the different exchanges and opt for the one that is found the most suitable.
Review of few of the popular Bitcoin exchanges across the globe
- IO: It is regarded to be among the most reputed and oldest exchanges introduced in London in 2013 as well as cloud mining facilitator. With time, its mining power is said to have grown tremendously to such an extent that almost half of network mining capabilities were held by it. But now, it is closed. Customers are allowed by ‘CEX.IO’ to expand to the larger Bitcoin trade amounts. It does provide the facility to avail Bitcoins instantly at requested price. But such exchanges do come with high charges, however, gets compensated for facilities and security to allow multi-currency transaction like Ruble, Euro and Dollar to buy Bitcoin.
- CoinBase: Among the largest and most reputed Bitcoin trading exchanges providing direct dual facility trading and through wallet. It was in 2012 that it got established through Y-Combinator venture finding. Since then, there has been no turning back for this Bitcoin exchange platform. It does offer numerous lucrative services such as multiple choices to withdraw and deposit cash, while money transfers among two CoinBase is instant. The Wallet also facilitates multiple signature options to provide more secure transfers. Deposits in Bitcoins through this platform are insured for losses, etc. it also enjoys being associated with several US and Europe based payment partners, who allow seamless transactions. It also invites low transaction charges, while providing Bitcoin trading and Altcoin trading in huge numbers.
- Bitstamp: Established in 2011, it is regarded to be among the oldest exchanges to offer Bitcoin and cryptocurrency trading. It is also high respected, as it offers highly secured trading and till date never has faced any form of security threats. Four currencies are supported by this platform including Bitcoin, Ripple, Litecoin and Ethereum. One can also download the mobile app version to use it, besides website based trading. It does offer excellent support to traders with accounts in Euro Banks and European users. Security on this platform is highly advanced and cold storage type. This means, offline coin storage facility is provided. This in turn allows the user to be safe from all types of hackers and infiltration. Finally, its complex user-interface does mean that novice users will face difficulty in using it. But professionals are likely to enjoy trading in it. Low transaction fees are charged.
- Bitfinex: This is considered to be among the most advanced of all online cryptocurrency trading It is well suited to the professional and experienced cryptocurrency traders. This exchange is popular for its high liquidity factor for Bitcoins and Ethereum, while provides amazing options like margin funding, leveraging along with multi-order trading. Besides this, it also offers several features associated with customizable GUI including numerous order types such as trailing stop, limit, market, etc. Also is provided around fifty currency pairs which could be traded, combined with easy withdrawals for everyone. With regards to volume traded, it is among the largest exchanges and does offer greater pseudonmity to traders. It is only for few services that identification of the trader will be essential. However, the only drawback that is noticed with this exchange is support is not provided with Bitcoin or other altcoin purchase through fiat transactions.
- Kraken: With regards to liquidity, trading figures of Yen, USD and Canadian dollars as well as euro-crypto trading volumes, it is slated to be among the largest of all Bitcoin trading exchanges. This exchange is also highly respected and steered through turmoil faced in cryptocurency trades. Customer investments are kept safe, irrespective of other exchanges being prone to hacking at some point of time or the other. It does offer over 14 cryptocurency trading facilities. Users are allowed to deposit cryptocurrency and fiat with similar ability to withdraw. It does offer enhanced security features and comes with low transaction fees. But beginners will not find it suitable as the exchange is quite complex and require better exposure and experience. The entire community trusts this platform and it is stated to be the very first one to display prices and volumes on the Bloomberg Terminal.
Consulting the professionals can help the potential investor to know which platform to depend upon for investment purpose.