Bitcoin is a cryptocurrency and payment system that has been popular and fast growing alternative currencies since its launch in 2008. Bitcoin allows you to be your own financial system.
People are discovering the best bitcoin exchange things and how to buy bitcoin online through a secure medium. The difficult research about where to trade bitcoin motivated to give a solution in a single blog. So let’s discuss how.
Here, in the table given below, we have covered the rank of the sites with its location and currency and how you can buy. Hope this will help and narrow your search.
| Rank | Site | Exchange Type | Reputation | Payment Methods | Verification Needed? | Supported Countries | Overall Rating | Visit Exchange |
| 1 | Coinbase | Trade Platform/Broker | ✔✔ | Wire, Card | Yes | 25 Countries | 95% | Visit Exchange |
| 2 | CoinMama | Broker | ✔ | Credit/Debit/WU/MoneyGram | Yes | Worldwide | 88% | Visit Exchange |
| 3 | CEX.IO | Trading Platform | ✔ | Wire/Credit/Debit/AstroPay | Yes | Worldwide | 81% | Visit Exchange |
| 4 | BitStamp | Trading Platform | ✔✔ | Wire/Ripple/AstroPay | Yes | Worldwide | 85% | Visit Exchange |
| 5 | CoinHouse | Broker | ✔ | Credit/Debit/Neosurf | Yes | Eurozone only | 80% | Visit Exchange |
| 6 | Kraken | Trading Platform | ✔ | Wire | Yes | Worldwide | 83% | Visit Exchange |
| 7 | iGot | Trading Platform | — | Wire | Yes | Worldwide | 83% | Visit Exchange |
| 8 | HitBTC | Trading Platform | — | Wire | Yes | Worldwide | 80% | Visit Exchange |
| 9 | 247Exchange | Broker | ✔ | Wire, Credit/Debit, Cash | Yes | Worldwide | 84% | Visit Exchange |
| 10 | BitX | Trading Platform | ✔ | Bank Transfer, GIRO, FAST, EFT | Yes | Varies | 84% | Visit Exchange |
| 11 | BitBay | Trading Platform | ✔ | Bank Transfer, SEPA, SWIFT | Yes | Worldwide | 82% | Visit Exchange |
| 12 | BTC-E | Trading Platform | X | Wire, Perfect Monry, OKPay | No | Worldwide | 78% | Visit Exchange |
| 13 | Virwox | Trading Platform | XX | Wire, PAyPal, Credit, Debit, Skrill and more | No | Worldwide | 70% | Visit Exchange |
Since its started, bitcoin remains the most successful and reliable options for currencies. Now, you can use bitcoins to buy real goods and services. The price of bitcoins fluctuates, and excessive trading has a remarkable effect on the currency. Services mentioned in the above list will help you to buy, sell and trade cryptocurrencies.
Usually, Bitcoin exchanges share certain core functionality, but their effectiveness as trading networks can vary hugely as the result of small changes in their design. Here are some key factors to consider when choosing the right exchange.
Every bitcoin exchange has a different fee structure that is designed to suit several usage patterns and provide to distinct audiences. Most of the exchange uses a volume-based free schedule where they offer to buy and sell large chunks of bitcoin pay lesser fees. Fees indicated the percentage of the transaction amount.
Some of the bitcoin exchanges use a maker-taker fee schedule in which those who place buy and sell orders (makers) doesn’t pay fees, while those who accept whatever offers are currently available (takers) pays fees for the convenience.
Some exchanges use a maker-taker fee model, where those who place buy and sell orders designed to move the price up or down (makers) pay no fees, while those who accept whatever offers are currently available (takers) pay a fee for the convenience.
Security is a vital part in every aspect. When trusting a bitcoin exchange with your money, you want to ensure that the security measures are top of the line. Analyze that how safes are the server and website. Most of the bitcoin exchange uses two-factor authentication to protect your account from hijacking, but some exchanges go above and beyond to ensure client privacy and security. The largest bitcoin websites offer many options for buying bitcoin with government issued currency and altcoins. Everything from advanced encryption methods to offline, strict hiring procedures, can help make a bitcoin exchange more secure. Know How to keep your Bitcoin secure.
The trading volume of a bitcoin exchange speaks a lot of things about the exchange. It helps to let about many people trust the network with their money, which indicates well of business practices. A larger client base and higher trade volume ensure an equal trades for all involved because everyone has more potential trade partners. As a rule, bitcoin exchanges with higher trading volume tend to stick closer to the average market value of bitcoin, while smaller networks tend to skew higher. Which currencies a network accepts can also affect its trade volume, as well as its usefulness.
Almost every bitcoin exchange offers an API, or application program interface, to allow custom software to interface with the system. This allows you to develop advanced tools for managing money automatically without having to do everything by hand. Where bitcoin exchanges vary is in the specific functionality their APIs provide. For example, some APIs have built-in functionality for trading on margin, making them ideal for day traders and other currency speculators.
Summary: Coinbase is probably the most popular company today for buying and exchanging bitcoins. It was founded in late 2012 as a part of Y-Combinator and until today has raised more than $106 million in venture capital. Coinbase is considered by the leading Bitcoin exchange available.
Coinbase provides two ways to buy Bitcoins. One is through the Coinbase wallet and the other is through the Coinbase exchange. When you buy Bitcoins using the Coinbase wallet you are buying the Bitcoins from Coinbase itself, whereas when you use the exchange you are participating in a trading with other users of the exchange.
Pros: It is highly respected and good reputation, low transaction fees
Cons: It is not available worldwide, Support takes a time to respond.
Summary: Coinmama is an another well-known Bitcoin broker working in the market since 2013. Coinmama uses Simplex – a credit processor which allows you to buy up to $520 in one purchase. Unfortunately, due to chargeback issues and the availability of credit and debit cards as payment methods, Coinmama has extremely high exchange rates. It is quite similar to Coin.MX only their verification process is slightly faster.
Pros: Accept credit cards, Fast transaction time, great user interface.
Cons: Relatively high exchange rate, average customer support.
Summary: CEX.IO was established in 2013. CEX.IO is a bitcoin trading exchange which accepts credit cards and allows you to trade. On Cex.io You can buy Bitcoins for USD, EUR, and RUB.
Pros: Reputable company, high buying limits.
Cons: Limited countries available, higher exchange rates.
Summary: Coinhouse is the “House of Bitcoin” in Paris. You can buy bitcoins with a 3D secure credit card or debit card, or with Neosurf prepaid cards.
Pros: Reputable company, high buying limits
Cons: Limited to Eurozone countries only, relatively higher exchange rates
Summary: Bitstamp was founded in 2011 has managed to survive most of the Bitcoin ecosystem turmoil without being hacked or shut down. As of 2016, it was the world’s second largest by volume. It allows trading between USD currency and bitcoin cryptocurrency. It allows USD, EUR, bitcoin or Ripple deposits and withdrawals.
Pros: Highly respected and reliable exchange, low transaction fees.
Cons: Not suited for beginners, limited payment methods, high deposit fees on small amounts of money.
Summary: Kraken is veteran Bitcoin exchange platform founded in 2011 like Bitstamp and managed to stay alive until today. Kraken is consistently rated as a top Bitcoin exchange by different news outlets and was also the first Bitcoin exchange listed on Bloomberg terminals. Kraken is also trusted by hundreds of the Tokyo government and the BaFin regulated Fidor Bank.
Kraken is much similar to Bitstamp in its pros and cons and is almost identical when coming to decide on which of them to use.
Pros: Highly respected and reliable exchange, low transaction fees.
Cons: Not suited for beginners, limited payment methods, high deposit fees on small amounts of money.
Summary: iGot was founded in 2013 in Australia, it provides a trading platform and also merchant payment services for Bitcoin. It has super low fees but also supplies on a limited range of payment methods. iGot has yet to gain enough reputation as a major player in the Bitcoin exchange market.
Pros: Super low fees, great interface.
Cons: Limited payment options, relatively high exchange rate.
Summary: HitBTC is a Europe-based cryptocurrency exchange, founded in 2013. Launched as a Bitcoin exchange, it soon started listing alternative cryptocurrencies, and currently provides trading markets for almost all popular digital currencies.
Pros: Beginner friendly, great buying experience.
Cons: High exchange rate, brand not reputable enough.
Summary: BTC-e is one of the oldest exchanges available operating since 2011. There seems to be no actual company or person directly responsible for the exchange. In short, it just seems shady but there haven’t been any complaints yet.
Pros: Low fees, proven stability over time.
Cons: No identifiable person running the company, clunky user experience.
Summary: Virwox is the Virtual World Exchange in the business since 2007. It is not a Bitcoin exchange per se. It’s actually a Second Life reseller which allows you to exchange SLL (Second Life Linden’s) into Bitcoins. So why is it listed here? Because currently, it’s the only known exchange in which you can buy Bitcoins with PayPal.
Even though Virwox supplies various payment methods, the issue with it is that many users have complained about their services. Some have even reported that their money was taken with no return. However, most of the reviews tend to show that either the purchase of Bitcoins was successful or that the money was refunded.
Pros: A wide variety of payment methods including Paypal and credit cards, no verification required
Cons: Shady reputation, very high fees when buying with Paypal or credit cards (due to multiple conversions).
Summary: 247Exchange is a veteran player in the Bitcoin ecosystem since 2014 that allows you to buy Bitcoins with a credit card in a simple and secure manner. Unfortunately, their buying process still has a few glitches and the verification process can take quite some time.
Pros: Easy user interface, works worldwide and multilingual.
Cons: Buying process is too long (mainly due to verification), the service takes a premium in order to be able to deal with chargeback issues.
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