Most probably, your cryptocurrency journey starts through an exchange. Generally, they are two types of exchange – fiat exchange and cryptocurrency to cryptocurrency exchanges.
Fiat exchange is a type of cryptocurrency exchange which allows users to directly transfer major currencies for cryptocurrency trading. Cryptocurrency to cryptocurrency exchanges allows cryptocurrency to cryptocurrency trading.
Furthermore, fiat exchanges are somewhat difficult to sell in some countries in the world due to the underlying rules and regulations in the area.
Some of the most popular cryptocurrency exchanges are as follows:
1. Coinbase – Coinbase is a user-friendly exchange that is based in San Francisco, California. It is equipped with a beautifully simple user interface which allows users to directly buy from it which makes it a brokerage as well. It charges 1.49% for bank transfer and 3.99% for credit and debit cards, thus it is recommended that large transfers should be done through the bank.
2. Coinmama – Coinmama is also user-friendly like Coinbase on as much as it supports credit and debit cards purchases as well. It allows users to instantly buy cryptocurrencies available in almost all countries in the world and states in the U.S. It charges 5.5% for credit and debit card purchases.
Furthermore, Coinmama does not provide an e-wallet to their users but they are provided with a wallet address where their cryptocurrency purchases are sent. Coinmama does not allow cryptocurrency to be sold back to fiat currency.
3. Bitpanda – Bitpanda is a European based exchange which sells major cryptocurrency exchanges for most governments backed currencies. It allows purchases through major credit and debit cards and.bank transfers as well. It charges 3.98% fee for purchases that are made through credit and debit card and it does not charge any amount for transactions made among accounts.
4. Luno – Luno is an exchange which only supports South Africa, Indonesia, Europe, Malaysia, and Nigeria. It accepts bank and credit and debit card transfers with a .25% fee. It also supports mobile trading as well.
5. CEX.IO – CEX.IO is a cryptocurrency exchange based in London, United Kingdom which offer clients with a security, liquidity and cross-platform trading. They do not charge fees as users are paying more than the market price of cryptocurrencies like Bitcoin.
6. Kraken – Kraken is a cryptocurrency exchange which offers over 15 cryptocurrency pairs alongside with a reliable, secured, legal and advanced service. It was established in 2011 at San Francisco, California.
7. Local Bitcoin – Local Bitcoin is a peer to peer exchange which means that users can trade among themselves at a lower rate. It is equipped with an exchange platform where clients can buy or sell.
8. Bitstamp – Bitstamp is a cryptocurrency exchange founded in 2011 at Luxembourg which charges .25% fee. U.S. clients are allowed even though it is based in Europe.
9. Gemini – Gemini is an exchange based in New York, USA which trades three currencies namely U.S dollars, Bitcoin and Ethereum. It charges 1% fee and offer clients a safe, secure, offline access control and so much more.
10. Binance – Binance is an exchange based in Hong Kong with offices in major cities including Japan and China and is available in all countries all over the world. It offers clients a wide range of trading pairs and high volume of trading pairs.
The popularity of cryptocurrency is quickly escalating, thus more and more users are expected to trade with it in the coming years. It is advised that clients who trade with cryptocurrencies should be careful when doing so to avoid great losses.