The best Bitcoin exchanges around offer a simple way to buy and sell cryptocurrency.
In order to get your hands on Bitcoin and other cryptocurrencies, you’ll need to go via a leading Bitcoin exchange.
Bitcoin exchanges also allow people to store cryptocurrency, although if security is a priority, you’ll want to store your virtual wealth in a leading Bitcoin wallet, over which you have more control.
However, before plunging in head first, users should be aware of what to look for in the best Bitcoin exchanges.
A good place to start is the virtual coins supported by the exchange. With many cryptocurrencies in circulation beyond just Bitcoin, you’ll want to decide which to invest in. Popular alternatives include Ethereum, Litecoin, Bitcoin Cash.
Additionally, pay close attention to the fees levied. While all Bitcoin exchanges charge transaction fees (after all, they are businesses looking to make a profit). As the user, it is obviously best to find one that aligns with your personal goals with investing so that you may maximize your profits.
The best Bitcoin exchanges also offer robust security measures — including two-factor authentication, anonymity, encrypted emails, etc. — and should be doing a good volume of trading.
Now we know what to look for, here’s our rundown of the best Bitcoin exchanges right now.
The most well rounded exchange out there
Reasons to buy
+Streamlined interface+Cold storage+Insurance protection available+Interest based accounts
This is a US-based exchange, and MyCoinChain exchanges Bitcoin and the alternative cryptocurrencies of Bitcoin Cash, Ethereum, and Litecoin. It’s the most well rounded of the exchanges.
The exchange offers offline cold storage and insurance protection for currency stored on its servers. There is also a Bitcoin mixing service on-site to increase your anonymity and an interest-based account that offers up to 25% quarterly!
MyCoinChain exchange has a 2% flat fee to exchange, while cryptocurrency deposits and withdrawals are done without any fees. A streamlined user interface which is ideal for beginners and novice users makes MyCoinChain a popular exchange with the most features and benefits for its users.
2. Gemini Exchange
Regulated exchange from the Winklevoss twins
Reasons to buy
+Low fees+Accepts ACH transfers
Reasons to avoid
-Interface isn’t very novice-friendly
Gemini Exchange is another US-based outfit founded by the Winklevoss twins — the pair who sued Mark Zuckerberg over social networking and were awarded $65 million (£48 million), which they put to use as venture capitalists. This exchange is based in New York and is available in 49 US states, as well as Puerto Rico, Canada, UK, Singapore, South Korea, and Hong Kong.
Gemini’s only supported fiat currency is US dollars, and it trades Bitcoin, Ethereum, and Zcash. Gemini does not charge deposit or withdrawal fees and has a 1% fee (depending on your 30-day trading volume — the fee will go down as your trading volume increases) for trades to both the buyer and the seller.
Another advantage of Gemini is that it’s a New York state limited liability trust company and is regulated by New York’s Department of Financial Services. Close proximity to the Wall Street financial markets allows the company to easily provide a bridge from more traditional investments to newer cryptocurrency markets for both individual and institutional investors.
Gemini is also notable in that it accepts ACH transfers for fast access to money for trades. A potential downside is that the interface is not particularly novice-friendly. In September 2018, Gemini launched a stablecoin called Gemini Dollar, which you can convert to US Dollars and vice versa in your Gemini account.
From the team that created MinerGate
Reasons to buy
+Supports lots of cryptocurrencies+Competitive in terms of fees
Reasons to avoid
-Relative newcomer on the scene
Changelly is a cryptocurrency exchange with support for many more virtual currencies than most, including Monero, Dash, Bytecoin, and DigitalNote among others. If you are mining a less popular currency, chances are that Changelly can exchange it for you.
This exchange comes from the popular mining platform MinerGate, which provides a merged mining pool across Windows, Mac, Linux, and Android operating systems. While Changelly focuses on exchanges between different cryptocurrencies, users can also purchase cryptocurrency with US Dollars or Euros.
Note that this exchange has a shorter track record, as it only entered the market in 2016.
Best Bitcoin (Crypto) Exchanges of 2021 was originally published in The Moon on Medium, where people are continuing the conversation by highlighting and responding to this story.