Choosing the best exchange
The main obstacle to overcome when you learn about bitcoin is how to obtain bitcoins. Despite the fact that you can do so using several methods , the most obvious decision is to buy them. In any case, where do you go when attempting to purchase a digital token in return for actual cash? These platforms are called exchanges, and simply like an exchange office where you can use local currency to obtain foreign currency, bitcoin exchanges exchange your actual cash for bitcoins.
When it comes to choosing an exchange, you have a wide selection of suppliers.Contingent upon your geographical area and the sort of fiat cash you use, certain exchanges might be preferable over others. As of now, there is no bitcoin trade that services all countries on the planet, because of lawful reasons.
Below we have gathered for you all the needed information for a detailed review of each exchange .
You can the pros and the cons of each exchange and decide what suits your needs best :
Binance
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchanges in the world in terms of trading volume.
Binance PROS:
Established industry presence
Excellent reputation
Safe & secure
More than 500 crypto assets and pairs tradeable
Many useful features
Numerous payment options available
Active social channels
Great customer support
Has its own exchange token (BNB), which gives you many exclusive rights
Binance CONS:
Perhaps not ideal for complete beginners
Lacking phone customer support
localbitcoins
LocalBitcoins is a peer-to-peer Bitcoin exchange. A marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can browse to their website for trade advertisements and search for a payment method you prefer. You will find traders buying and selling Bitcoins online for more than 60 different payment methods.
LocalBitcoins PROS:
Relatively low trading fees
Variety of payment options
Good customer support
Escrow service
Simple user interface
Safe and secure
LocalBitcoins CONS:
Bitcoin trading only, no altcoins supported
Higher fees for cash
Coinbase
Coinbase directly buys and sells bitcoins. They also offer Bitcoin payment processing services for merchants. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many others .
Coinbase PROS:
Ideal for complete beginners
Excellent reputation
Safe & secure
Many useful features
Numerous payment options available
Active social channels
Great customer support
Coinbase CONS:
Not all coins are available to purchase
Downtime of network is very volatile during high-traffic times
KuCoin
KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions.
KuCoin PROS:
Simple user interface
Variety of payment options
Good customer support
Variety of alt-coins
Safe and secure
KuCoin CONS:
Downtime of network is very volatile during high-traffic times
Monthly and daily purchase limits
Coinmama
Coinmama is the leading cryptocurrency exchange platform to buy & sell crypto with credit card, debit card or bank transfer. One of the most popular and favored exchanges.
Coinmama PROS:
Excellent for beginners
There are no bank transfer fees
The verification process is quick
Coins are not stored on Coinmama servers
Active social channels
Great customer support
Coinmama CONS:
Monthly and daily purchase limits
Payment options are limited
Paxful
Paxful is a leading peer-to-peer finance platform for trading bitcoin. Having over 300 payment methods available on Paxful makes it incredibly easy to find suitable offers.
Paxful PROS:
Wide variety of payment methods
Responsive support forum
Great user feedback
Active social channels
Paxful CONS:
High exchange rates
Possibility of scam