Which are some of the safest, biggest and most popular Cryptocurrency Exchanges across the world?

When a currency becomes as internationally renowned as Ether and Bitcoin, it ought to garner attention from every corner and establish an entire network in itself. This is essentially what gave rise to the multitude of cryptocurrency exchanges we see today which have made this exciting new investment and medium of exchange available to many individuals and groups interested in them.

safest coin exchanges

On a collective point of view, however, these cryptocurrency exchanges may not have their reputation preceding them each time because in the past a few have been charged for conducting acts of fraudulency. This article is written keeping in mind the people who are hesitant to try out this new market simply because of the fear of fraudulency, and it will identify the best exchanges across the globe which you should try out based on your needs and preferences.
  1. Coinbase

It certainly is no surprise if Coinbase was the first name you saw while searching up on Exchanges; it has indeed been the pioneer of cryptocurrency brokerage and exchange ever since the establishment of digital assets as acceptable means of value in societies. Coinbase is not only the most well reputed and secure form for trading your coins, but is also very user friendly especially for people who just entered the market of cryptocurrency and are unaware of all of the dynamics. The exchange features trade in Ether, Litecoin, and Bitcoin, with the last being the most prominent mean of trade on the site. In order to convert from one form of digital currency to another, you simply need to have a currency wallet downloaded or purchased and connect it to the site. Alternatively, you can also convert real/fiat currencies like Euro to digital currencies too. The only drawback of Coinbase is that as of now it is functional only in the USA, Europe, UK, Canada, Australia, and Singapore. Common features of Coinbase include:
  • Direct trading through GDAX (Global Digital Asset Exchange) which, at this point in time, does not charge extra.
  • Financially Reasonable.
  • Built in Crypto Wallet.
  • A sufficient customer support base considering how digital currencies are unregulated.

  1. CEX.IO

This cryptocurrency exchange deals with Bitcoins only but that is perfectly fine considering how other currencies are mainly accessed using Bitcoins. The question then is why do we need CEX.IO if it is not a direct interface? The simple answer is the fact that it is the most bank transfer/credit card friendly digital currency exchange out there. The developers realize that as of now the idea of cryptocurrencies is still relatively new and that most investors will be looking to invest using traditional cash, which is why it serves as the perfect intermediary between the liquid and crypto cash world. CEX.IO has a very reasonable credit card fee of 3.5% right now and also requires excessive verification of transactions for security and assurance purposes. Compared to Coinbase CEX.IO has around 20 countries mapped mostly in Asia where it can take advantage of the increasing interest of developing markets in digital currencies. The main features of CEX.IO include:
  • It does not support many US States including Florida, Washington, and New Jersey.
  • It has a low comparative purchase fee.
  • A Basic or a Verified account may be owned depending on the limit of cryptocurrency you wish to hold per month ($2000 for the former and $100,000 for the latter).
  • Instant cash receiving (1-2 working days by credit transfer).

  1. Changelly

When Poloniex was showered with complaints about how hackers have an easy access and that the account is not safe to deposit currency for even a day, Changelly was introduced as the new alternative which is now becoming the fast new exchange forum for virtually any famous cryptocurrency out there. Changelly was introduced recently but has not had a case of complaint against it yet. The interface of use is fairly simple; cryptocurrencies can be exchanged from one form to another just like in a forex market. The site also functions using bank transfers but that is not recommended because the rates are significantly higher and because some users have claimed that the bank network is not as well developed yet. The main beneficial features of Changelly include the following:
  • An excellent conversion speed of 5-30 minutes of transaction that can go up to virtually any feasible limit, without extra charges for transactions above a set bar.
  • Easy access for usage; all the site requires is your email address. Through the same address you can get valuable customer support service in case something does not work out.
  • It has no wallet of its own which means that hacking from the site is not very possible, offering extra security.
  • The conversion site and team is based in Prague but can be used for any country around the globe as of now, giving it an unprecedented advantage over its forerunners.
As part of our research, we did come across this one article claiming challenges with Changelly (posted a few hours ago)… How I lost trust (and 1 million USD) in Changelly, be warned. As always, a single review can never paint a complete picture, but worthwhile sharing, we thought.

  1. Kraken

For people who wish to advance in the world of cryptocurrencies and take more risks to make a fortune from their skill, Kraken is an even better service than Coinbase. Not only does it allow exchange in various currencies including Bitcoin, Ether, Litecoin, Ripple etc. it can also be used to directly purchase currency using bank transfers. What sets Ripple apart is the option of margin trading which basically gives it the feel of a stock market in itself. In Kraken, people also have the option of selling their currency at their own given price. With access to such incredible trading features, it is indeed the best pick for advanced traders. The main features of Kraken include:
  • A difficult interface suitable only for traders well informed with the dynamics of trading in digital currencies.
  • Low deposit and transaction fees (under 1% for the latter).
  • Worldwide acceptance, for the same currencies as Coinbase but with the inclusion of the Japanese Yen.
  • A difficult interface not suitable for novice traders.
There are many more options out there worth considering, all with their pros and cons. Research carefully. Invest wisely!

1 Comment

Leave a reply

THE PULSE OF YOUR ALTFOLIO

Know exactly how your cryptocurrency portfolio is doing, anytime!

Why live in suspense when you can have clarity?

No surprises. Only clarity on how your crypto Altfolio is performing.

We make it easy for you to track your crypto currency investments.