Best cryptocurrency exchange in 2018

Today there are a host of platforms to choose from, but not all exchanges are created equal. This list is based on user reviews as well as a host of other criteria such as user-friendliness, accessibility, fees, and security.  Here are ten of the best crypto exchanges in no specific order.

  1. Coinbase

Backed by trusted investors and used by millions of customers globally, Coinbase is one of the most popular and well-known brokers and trading platforms in the world. The Coinbase platform makes it easy to securely buy, use, store and trade digital currency. Users can purchase bitcoins, Ether and now Litecoin from Coinbase through a digital wallet (Download the Coinbase App) Available on Android & iPhone or through trading with other users on the company’s Global Digital Asset Exchange (GDAX) subsidiary.

  • Pros: Good reputation, security, reasonable fees, beginner friendly, stored currency is covered by Coinbase insurance.
  • Cons: Customer support, limited payment methods, limited countries supported, non-uniform rollout of services worldwide, GDAX suitable for technical traders only. Very Basic Options (Bitcoin, Ethereum, Litecoin), Lack of Anonymity.

Coinbase has stated that they will be adding several new currencies in 2018.

This is the best option for beginners, it’s simple and you can buy from your phone.  However, for experienced traders or those who would like to own/trade more cryptocurrencies than the basic 3

Verdict: Coinbase is limited. The reason we listed it as #1 is ease of use for new investors and it’s one of the few that’s regulated/insured and allows you to sell into fiat currency (selling your cryptocurrency for dollars etc.) 

Anonymity is also a concern after Coinbase was mandated to hand over all account owner information to the IRS after only a few people reported capital gains taxes last year.

Join Coinbase 


2. Binance

Binance is both a cryptocurrency and an exchange (which concluded its ICO in July 2017).  Binance means “Binary Finance” (for anyone who gives a shit) and as an exchange, it aims to power the future of crypto finance.

It is a centralized exchange like Bittrex and Poloniex, and they’re based out of China. It seems to be a better alternative to most other centralized exchanges because they have identified the most major pain points of centralized exchanges and are working rapidly to provide solutions.

The only consistent complaint we’ve found from the community is the inability to log in after enabling 2FA (2 Factor Authentification) Many members have for gotten to save their key, upgraded/lost phones and aren’t able to log in.  Customer service emails (like most cryptocurrency exchanges) don’t help much.

Pro Tip- Two Things To Make Life Easier:

  1. When you enable 2FA through Google Authenticator/another service- Print or save your backup key somewhere safe, where no one can find it and you won’t get locked out.
  2. A. If you do lose/get a new phone/get locked out submit a Request

Screenshot 2018-01-07 13.46.20

B. Once you’ve Submitted Your Request- Take your Request # (they’ll send it in email) Download the Telegram App and join the “Binance English” group.  Using your Request # one of the Binance Angels can expedite your request.

Verdict: Binance is at the top of our list of favorite exchanges, has a broad selection of cryptocurrencies but not as many as some of the other exchanges. (Bad news for shitcoin traders, but hey we’re guilty of that too.. no judgement here.)  Bad news for new customers.. they are currently not accepting new members although we do expect this to change. You can join below.

BinanceRef.png

Join Binance Here


3. Kukoin

KuCoin is a newer cryptocurrency exchange based in Hong Kong. It operates on a crypto-to-crypto basis, so no fiat currencies are supportedNonetheless, its digital assets portfolio is pretty extensive and KuCoin offers its own token KCS (KuCoin Shares) and uses it in a similar way to Binance.

Fess of KuCoin are really competitive. It charges a flat fee of 0.1% per trade, while the average in the secctor is around 0.20% – 0.25%. Besides, for those who hold KuCoin Shares, there are attractive discounts.

Promotions are Awesome!

KuCoin offers a bunch of promotions: a referral program, top traders bonus promotion, and discount options for those holding its KCS token.

Kukon offers by far the most attractive referral program for those of you looking to earn passive income.

KukoinQRCode.png

Join Kukoin Here 

Areas of Concerm: 

Like many exchanges, Kukoin is not regulated. As a new exchange there is not a ton of info on the company/comapny owners. Until I am able to see about the company owning the site and the brand I will use Kukoin for trading but not keep large sums of money on the exchange.


4. Poloniex

Founded in 2014, Poloniex is one of the world’s leading cryptocurrency exchanges. The exchange offers a secure trading environment with more than 100 different Bitcoin cryptocurrency pairings and advanced tools and data analysis for advanced traders. As one of the most popular trading platforms with the highest trading volumes, users will always be able to close a trade position. Poloniex employs a volume-tiered, maker-taker fee schedule for all trades so fees are different depending on if you are the maker or the taker. For makers, fees range from 0 to 0.15%, depending on the amount traded.

For takers, fees range from 0.10 to 0.25%. There are no fees for withdrawals beyond the transaction fee required by the network. One of the unique tools on the Poloniex platform is the chat box which is constantly filled with user help and just about everything. Any user can write almost anything but inappropriate comments are eventually deleted by moderators. It can sometimes be hard to distinguish the good advice from the bad, but the Chatbox is a great tool that will keep you engaged.

  • Pros: fast account creation, feature rich, BTC lending, high-volume trading, user-friendly, low trading fees, open API.
  • Cons: Slow customer service, no fiat support, higher volumes causing lagging, seem to have trouble with the additional volume and new customers

New accounts are having problems getting higher level verification and payments are being lost or limited. you welcome to search on reddit and see the amount of issues. support is horrible and trollbox is filled with people asking for help or verification , lost transaction, stoppped transactions etc

Theres a sub reddit actually setup for it as well /r/PoloniexForum/

5. Bittrex

Bittrex is a US-based cryptocurrency exchange that provides you the option to trade more than 190 cryptocurrencies at a time. They are well-regulated and compliant with all of the current US rules, so crypto users need not worry about the safety of their funds.

Bittrex handles one of the largest BTC trading volumes out of all the exchanges in the world. Here, the users (buyers/sellers) decide the rates in which they want to trade, and Bittrex charges them a small service fee for providing this platform (0.25%).

To get started with Bittrex, you need to register and log in through your email ID, but to withdraw funds, you need to do a KYC by submitting your ID documents and phone number, as well as enabling two-factor authentication for higher limits.

But one good thing about Bittrex is the account verification happens quite fast.

Bittrex supports two types of accounts:

  • Basic Account – withdrawal funds worth up to 3 BTC/day.
  • Advanced Account – withdrawal funds worth up to 100 BTC/day.

Bittrex is a “crypto-only” exchange, meaning it doesn’t allow you to deposit fiat currencies such as USD, EUR, GBP, etc.

Pros

Availability of many coins (E.g. NEO, OMG, XMR and list goes on)

  • Multi coin support (BTC, ETH, USDT)
  • Clean user interface
  • High performance
  • Reliable server uptime: There hasn’t been any time when the server was shut down or wasn’t working suddenly
  • USA Based
  • High security

“Bittrex constantly upgrades and tests to make sure they are doing great job. They allow you to use two-factor authentication for all withdrawals and API usage and I highly recommend you to set up the two-factor authentication. Also, Bittrex.com is protected by SSL, which strengthens the security level.” However there has been a lot of recent posts from customers using the exchange recently that haven’t been too pleased.

What Some Customers Have Been Saying Recently:

“Bittrex does not respond to help requests. I deposited funds into my account before verification cleared. Verification never cleared. It’s been over two and a half weeks and all I get is automated replies from their system. I am fairly certain I will never see my money again.

People all over the internet are complaining, but where do we gather if we want to ward off future potential Bittrex victims? The policy to accept deposits without verification, but then not allow withdrawal until verified is a VERY shady practice.”

6. Cryptopia

Cryptopia is known for listing many altcoins, in the order of hundreds (many more lesser known coins than other exchanges) including some not incorporated anywhere else. The only drawback on the matter is that, due to personal views of the staff, Ethereum is not accepted.

Getting an altcoin listed requires to pay a fee so that the staff will review the currency. The details of the coin must be sent through a ticket. The pricing is displayed in their website, as ‘Paytopia’.

Besides the exchange, the site comes with a cloud mining venture (Mineshaft), a marketplace (where naturally only cryptocurrencies are accepted), a knowledge base with information about most of the listed altcoins (CoinInfo) and an arbitrage tool.

PROS:

  • Hundreds of altcoins listed
  • Low fees
  • Fast customer support
  • Sense of community
  • An arbitrage tool.

CONS:

  • Low volume
  • Confusing interface
  • Ethereum not accepted
  • Rude staff

Join Cryptopia

7. Kraken

Founded in 2011, Kraken is the largest Bitcoin exchange in euro volume and liquidity and is a partner in the first cryptocurrency bank. Kraken lets you buy and sell bitcoins and trade between bitcoins and euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen. It’s also possible to trade digital currencies other than Bitcoin like Ethereum, Monero, Ethereum Classic, Augur REP tokens, ICONOMI, Zcash, Litecoin, Dogecoin, Ripple and Stellar/Lumens. For more experienced users, Kraken offers margin trading and a host of other trading features. Kraken is a great choice for more experienced traders. Check out the Kraken FAQ

  • Pros: Good reputation, decent exchange rates, low transaction fees, minimal deposit fees, feature rich, great user support, secure, supported worldwide.
  • Cons: Limited payment methods, not suitable for beginners, unintuitive user interface.

“I have been with Kraken for some time. I agree they have some nice features (AFAIK, I don’t know other exchanges) and they take security seriously.  However, their customer service and wire transfer (USD and GBP) is highly variable. I have never had a good experience getting money onto the exchange – all three attempts have been unpleasant, one failed entirely. And right now, they are having a customer service melt down. My current ticket not touched for over a month, and they are telling people to post their ticket numbers on their facebook page to get attention (yes seriously).”

6. Gemini

Co-founded by Tyler and Cameron Winklevoss, (remember Social Network the “Facebook movie” yea the Rugby bros- they have been on the forefront of the digital currency movement, and although they weren’t portrayed in the best light in the movie- they have a keen sense of business and some big backers behind them. Gemini is a fully regulated licensed US Bitcoin and Ether exchange. That means Gemini’s capital requirements and regulatory standards are similar to a bank.

Also, all US dollar deposits are held at a FDIC-insured bank and the majority of digital currency is held in cold storage. Gemini trades in three currencies, US dollars, bitcoin, and ether, so the platform does not serve traders of the plethora of other cryptocurrencies. The exchange operates via a maker-taker fee schedule with discounts available for high volume traders. All deposits and withdrawals are free of charge. The platform is only fully available to customers in 42 US states, Canada, Hong Kong, Japan, Singapore, South Korea and the UK.

Check out Gemini’s FAQ

  • Pros: Security & Compliance, slick/minimalistic and user-friendly design, great analytics, high liquidity.
  • Cons: Limited currencies, (Only Bitcoin Ethereum) small community, average customer support, limited worldwide availability, no margin trading (or that could be a positive for many of us!)

7. Cex.io

Cex.io provides a wide range of services for using bitcoin and other cryptocurrencies. The platform lets users easily trade fiat money with cryptocurrencies and conversely cryptocurrencies for fiat money.

For those looking to trade bitcoins professionally, the platform offers personalized and user-friendly trading dashboards and margin trading. Alternatively, CEX also offers a brokerage service which provides novice traders an extremely simple way to buy bitcoin at prices that are more or less in line with the market rate. The Cex.io website is secure and intuitive and cryptocurrencies can be stored in safe cold storage. Check out the Cex.io FAQ

  • Pros: Good reputationgood mobile product, supports credit cards, beginner friendly, decent exchange rate, supported worldwide.
  • Cons: Average customer supportdrawn out verification process, depositing is expensive
  • Heads Up: CEX is only allowed to operate in 44 states with Georgia is one of the 6 that have not opened up to CEX yet.

Join CoinExchange.io

8. Bitstamp

Bitstamp is a European Union based bitcoin marketplace founded in 2011. The platform is one of the first generation bitcoin exchanges that has built up a loyal customer base. Bitstamp is well known and trusted throughout the bitcoin community as a safe platform.

It offers advanced security features such as two-step authentication, multisig technology for its wallet and fully insured cold storage. Bitstamp has 24/7 support and a multilingual user interface and getting started is relatively easy. After opening a free account and making a deposit, users can start trading immediately. Check out the Bitstamp FAQ and the Fee Schedule

  • Pros: Good reputation, high-level security, worldwide availability, low transaction fees, good for large transactions.
  • Cons: Not beginner friendly, limited payment methods, high deposit fees, user interface.
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