The Best Bitcoin Exchanges

When it comes to finding the best bitcoin exchange things are not all that easy. Why is this so? Simply because many of the best sites to buy bitcoin are rather recently online. This means that they have had little to get the word out about their services and products. Most people coming to this page will be asking how to buy bitcoin online through a secure means. Well, here is a good starting point. Let’s see how.

First thing to consider when looking for the top bitcoin exchange is how safe are the website and server. This boils down to asking: is it a trustworthy exchange providing transparent data of coins in cold storage (more on this later) and are customers happy? It’s also good to lookout for which currency pairs are available: are you looking to trade bitcoin for USD, Euros, or other fiat currencies. The location usually gives an idea of what’s on offer. However, the largest bitcoin sites usually have many options for buying bitcoin with government issued currency and altcoins.

The sheer complexity of researching where to trade bitcoin led me to make this blog. Although you should always do your own research before investing, I hope this helps. Below is the table of the best exchanges to buy bitcoin online. If you are new to cryptocurrency exchanges then lookout for the ‘beginner-friendy’ column.

Secure exchanges that are trustworthy and have good user ratings will rank higher than their peers. Extra points are given for sites to buy bitcoin with paypal, as many users request this feature. Ranking preference is also given for sites to buy bitcoin with credit card. Check out each option on the following best bitcoin exchange list. Be sure to bookmark this page for future reference.

How to buy bitcoin using this list of exchanges?

Each outstanding site should have detailed instructions. From here, one can easily figure out how to buy bitcoin with credit card, paypal, cash, bank transfers. Once you have got some coins then it is a good idea to store them offline (not on an exchange). For “cold” vs “hot” storage options – check out the list of available wallets. When wanting buy or sell it is safer just to transfer in and out of your ‘cold’ wallet to the ‘hot’ online exchange. Remember that so long as an offline wallet’s keys have not been compromised, then those coins cannot be taken.

Which are the largest exchanges?

Generally the biggest bitcoin exchanges will be toward the top of the above list. For example Bitfinex, GDAX, Bitstamp, Coinbase (also the best usd bitcoin exchange) all represent large volume proportions. Daily volume varies, and therefore the world’s largest exchange vary each day. Go to bitcoinity for a good list of all the top bitcoin exchange site and their proportional volumes. Some find this handy for arbitrage between markets.

What about the best cryptocurrency exchange?

Sadly, with the demise of Cryptsy there is a need for a new major first-rate cryptocurrency exchange (aka altcoins). Having many medium-sized cryptocurrency exchange sites is a better situation than having one large amazing option. Bittrex has now replaced Poloniex as the largest most amazing option. Its platform is functional enough to have attracted tens of millions of new customer every month. Things feel smooth when using Bittrex. All big and small trading pairs are offered and it is now possible to do cryptocurrency margin trading on major altcoins. This is a cool feature, but use it with caution as leveraged trading has a certain risk factor. Keep in mind that some of the best bitcoin exchange sites also do altcoins. Yobit, Bittrex, and Changelly, are great options worth checking out. Some even offer short selling on major coins. You may also like to check the market capitalizations and compare them to others listed there.

Where to find the most secure bitcoin exchange?

This is an important question to ask. Yes, putting the words trustworthy bitcoin exchange in the same sentence seems like an oxymoron, especially when remembering the shiny days of MtGox (aka Empty-Gox). While the bitcoin protocol has never been hacked, many peripheral businesses have. Perhaps the best question to ask would be: which are the least secure bitcoin exchanges. Generally, those listed here are optimum and of good standing, but please proceed with caution. Remember never to leave more btc online than you can afford to loose.

The best bitcoin exchanges :

Coinbase.com

Coinbase combine an attractive interface, a great site to get bitcoins with a debit card, and multiple online wallets for your digital currency. Over 4,800,000 users are signed up, including 45,000 merchants, and 9000 developer apps. Works well for European, American, & Canadian customers. I’ve also written a comprehensive Coinbase review for more detail.

Pros

• Really easy to use
• Lots of long-time customers
• Online wallet available

Cons

• Slightly more work needed when verifying account

Bittrex.com

Update: I’ve unlisted Bittrex from the ranking while new account registrations remain closed. I’ll be re-listing the exchange once new sign-ups are allowed.
Bittrex has earned it’s place as the new contender to the throne of world’s largest crypto exchange. Years of hard work and some lucky circumstances (BTC-e shut-down, Poloniex exodus, Cryptsy) have compounded a steady inflow of new users. I’ll let you read the detail in my Bittrex review, which has some important facts and analysis.

Pros

• Nearly 200 trading pairs
• Currently the most visited altcoin exchange
• Trusted by millions of traders
• High volumes available for big trades

Cons

• Heavy vetting requirements – especially for a non-fiat exchange
• Minor scaling issues as users flow in to sing-up

Localbitcoins.com

Localbitcoins is quite a popular for p2p (person to person) transactions all over the world. Simply put, you interact directly with the guy selling to you. Out of all the bitcoin sites listed here, this is one of the first and most reputed. Escrow and dispute resolution is provided by the site.

Pros

• Great way to meet people
• PayPal also available
• No verification needed
• Popular in most countries

Cons

• May take longer to conclude transaction
• Risks associated with anonymous transactions
• Some bank accounts have been suspended after receiving money

Cex.io

Update: Cex has been removed from the top exchanges as new account registrations are currently disabled. I’m following the situation closely

CEX is one of those international bitcoin exchanges accepting euros, British pounds, US dollars, Russian Rubles, Ethereum, Zcash, and Dash. Needless to say, CEX is very popular within those currency regions. There is a no-nonsense landing page, giving you the option to buy or sell 100, 200, 500, or 1000 USD worth of Bitcoin. I like the transparency given to users about how much they will actually pay – even before they sign up. Good security practices, a modern and simple user interface, and both bank transfer & credit card purchases are available. CEX is indeed a good beginner-optimized alternative to Coinbase. Read the comprehensive Cex review for more details including fees, verification, & security.

Pros

• Bank transfer and credit card deposits
• Very easy to use & great for beginners
• Users know how much they will pay before even signing up
• Buying and selling Ethereum is available

Cons

• Recently Litecoin was unlisted

Kraken.com

Warning Kraken is no longer listed here due to persistent UI and trading engine issues. Kraken once worked well through SEPA, had an easy verification process, and was very knowledgeable when it come to cryptography and security. As of early 2017, this platform has been re-positioning themselves as a crypto exchange by adding multiple new altcoins. I’ve written an in-depth Kraken review with everything you need to know..

Pros

• Cryptographic communications
• Cheapest rates for trading, depositing and withdrawing
• Worked well for Europeans and North America

Cons

• Increasingly severe issues with Kraken trading engine, page timeouts, generating new deposit addresses
• Recently disabled stop-loss and other trading features without giving explanation to the community
• Site not as visually intuitive

Bisq.io

Bisq (aka “Bitsquare”) is not to be missed for the more technically advanced. A decentralized p2p platform that keeps you super safe. Over 60 crypocurrencies can be traded and you can even purcahse btc using a bank transfer, escrow, & trusted 3rd parties.

Pros

• Incredibly advanced (technologically)
• p2p AND decentralized
• Trusted escrow system for bank transfers

Cons

• Advanced level of IT comprehension needed

GDAX.com

GDAX is great for technical traders and offers good liquidity. Deposits are in USD and can be processed just as rapidly as withdrawls. Also happens to be the best ethereum exchange for serious players in this space.

Pros

• An integral part of the trusted Coinbase brand
• Optimized to be a serious trading site

Cons

• More ID processing steps than on Chinese trading platforms

Bitstamp.net

Bitstamp are big in Europe and, since 2011, have moved from Slovenia, and the United Kingdom in search of sound regulatory environments. Good volumes are available for larger trades. Well received by people using SEPA and credit cards. Both euro and US dollar deposits are accepted. I like Bitstamp because they really focus on being a pure bitcoin-only exchange (update: since 2017 Bitstamp have started adding popular cryptocoins). Please read my Bitstamp critique for analysis of factors such as security, fees, and the history.

Pros

• Card purchases available (visa mastercard and visa) in Europe and the USA.
• HQ Located in Luxembourg
• Good for large transactions yet easy to use for beginners

Cons

• Not available outside of EU and the USA

Etherdelta.com

Etherdelta is a recent addition to my list. You absolutely have to check this decentralized exchange (DeX) out. Created by developer Zack Coburn in 2016, Etherdelta has become the community’s favorite place to trade Ethereum ICO tokens without using custodial accounts or centralized services. More than 325 ERC20 tokens are listed. Daily trading volumes are respectable for the most popular ICO coins. Using this DeX requires the Metamask Chrome browser extension. The best part is that your money is always under your control. Such infallibility comes from the storing of all personal funds in smart contracts – over which only you have control of the private keys.

Pros

• Funds are extremely safe on this fully-decentralized exchange
• No ID, real name, or registration of any sort is required.
• High-volume ERC20 exchange for trading Ethereum ICO tokens

Cons

• Beginners will have to watch a tutorial to understand how to use Etherdelta

Paxful.com

Paxful get over 2 million monthly visits, with 50% originating from the USA. It’s a peer to peer Bitcoin marketplace connecting buyers with sellers similar to the one above. Over 150 payment methods can be used. Impressive.

Pros

• Hundreds of payment methods such as Paypal, Skrill and NetTeller, cash – or even iTunes & Amazon gift cards.
• p2p (person to person) – similar to Localbitcoins

Cons

• Higher fees than elsewhere

CoinATMradar.com

CoinATMradar provide a global map of bitcoin ATMs. This allows you to use cash to buy in person at a physical machine. This is one of the most underrated means of purchasing with no verification of ID, and allows users to stay anonymous with over 869 ATMs srpead over each continent.

Pros

• Find bitcoin locations near you
• No ID needed in some cases
• Explains how a bitcoin atm works

Cons

• Not always possible to find a machine nearby
• You’ll have to leave your house!

Coinmama.com

A popular site for buying bitcoin or ether from those far-out tricky countries that are not accepted by the larger exchanges. Note that users cannot sell back to the site – only buy. There’s much more detail in my inspection of Coinmama which I encourage you to read.

Pros

• Credit card purchases from nearly all countries

Cons

• Fees are higher than most sites
• Not possible to sell cryptocurrency back to the exchange

Poloniex.com

Poloniex was once the best cryptocurrency exchange. Why? Well recently customers have been migrating to Bittrex following reports of withdraw problems on Poloniex. Nevertheless Poloniex has been through extremely fast traffic growth since the demise of its rival Cryptsy in 2016, and especially since the recent altcoin bubble of early 2017. Traffic has grown from 7 million monthly visits in February 2017 to 30 million in May 2017. Poloniex has the nicest trading interface out there, both for mobile and desktop users this will work wonders. Please note that because Poloniex is a pure “crypto” exchange, it is not possible to deposit government (fiat) currency. You’ll need to first buy bitcoin elsewhere, and then deposit it to be able to tade. I’ve written a full analysis of Poloniex, further exploring the founders, users, security, fees, history, and alternatives.

Pros

• The 2nd most popular crypto exchange, after Bittrex
• Margin trading (up to 4x) available on largest altcoins
• One of the best trading interfaces for mobile and desktop browsers
• Has the large volumes for all major altcoins including Ethereum.

Cons

• Loosing significant customer-base due to reports of user withdraw issues and lack of customer support
• Not possible to deposit fiat currency

Bitmex.com

Bitmex is the leading bitcoin margin trading site. Users can trade cryptocurrency derivatives with up to 100x leverage. Pairs include BTC/USD, Yen, Monero, Ripple, Dash, and Ethereum. Bitmex CEO Arthur Hayes has used his experience as an equity derivatives trader for Deutsche Bank to design, build, and maintain exactly the type of platform that users are looking for. Granted that this platform is for experienced and seasoned traders. Beginners should avoid trading coins here without knowing the implied volatility risks.

Pros

• Leading platform for bitcoin derivatives and margin trading
• Great and functional user experience throughout the site
• Up to 100x leverage

Cons

• With such high leverage it’s easy to overlook implied risk factor