Cryptocurrency Exchanges

Guide to most reliable cryptocurrency exchanges
If you don’t have any experience investing in cryptocurrency business and you are eager to get your fiat currencies(USD,EUR etc.) converted to Bitcoin or Altcoins, First of all, you need to find a reliable cryptocurrency exchange!
As you read this guide, you discover some cryptocurrency exchanges that are reliable, have excellent records and have built a solid reputation in the industry.
Read on!
What is a cryptocurrency exchange?
Cryptocurrency exchange is an online platform where you can buy, sell or exchange cryptocurrencies to other digital currency or fiat currency such as US dollars. Cryptocurrencies like bitcoin only exist on a software platform known as blockchain, there are only two methods to acquire them: the first is to get paid in that digital currency for a product or service that you’ve rendered, and the second is by buying some coins from an exchange.
Types of exchanges
Trading Platforms – These are platforms that connect sellers and buyers and charge a fee for each transaction. That fee might go the network provider.
Direct Trading – This platform offers a direct P2P trading where individuals from different locations can exchange currency which can be either digital currency or fiat currency. Direct trading exchange does not have a fixed market price, instead, either party can set his/her own exchange rate.
Brokers – These are websites any buyer can visit to purchase cryptocurrencies at a price set by the broker. Cryptocurrency brokers are similar to the offline forex traders you see on the street.

What to critically examine before choosing an exchange

It’s important to do a thorough homework before choosing any exchange. Wrong decision can make or mar your success of dealing with an exchange and can result to a huge loss of funds.

Here are some things you need to check before making a choice.
Reputation: My advice to anyone who wants to choose an exchange is to find out how reputable the exchange is via cryptocurrency forums such as Bitcointalk, Reddit etc. Scrutinize the reviews and comments made by individuals and well-known corporate entities who must have had an unpleasant experience in the hands of dubious people. Such affected people are not afraid to mention contact details, website address etc. of the scammers. .
Transaction fees: Most exchanges  have fee-related pages on their websites, explore such information and take note of all the hidden charges. Fees can differ from one exchange to another. It will not be wise to use an exchange where daily fee charges are at par with daily interest.
Purchase limits: Most exchanges have upper and lower bound limit of how much you can purchase or transact daily. This information will help someone who wants to venture into high volume trading.
Payment Methods: You need to know the payment options that are available for exchange; is it PayPal, credit or debit card?, wire transfer?. Also note the time frame involved. Purchasing cryptocurrency via wire transfer takes longer as it takes time for banks to process the transaction.
Verification Requirements – Many cryptocurrency exchange platforms both in the US and in Europe require some sort of Identity verification in order to buy, sell or transfer fund.
Geographical Restrictions – You really need to find out the geographical coverage of such exchange. Some user functions offered by exchanges are only accessible by certain countries. Make sure people from your country of residence are allowed to have full access to all the exchange platform tools and functions provided by the exchange you want to join.
Security: Security is paramount when dealing with exchanges; you need to carry-out thorough investigation to find out how secure is the website/platform of the exchange you want to deal with. Losing money carelessly can be painful.
Which ones are most Reliable Cryptocurrency Exchanges?
The question that has been in the mind of a reader of this guide! We have so many cryptocurrency exchanges around the  crypto spaces but how reliable are they ?, is a big question begging for an answer. The list below is based on the reviews carried-out, user experiences and host of other criteria used to select them, such as accessibility, user friendliness, security etc.

To Sum up the following exchanges accept almost all countries:
Bittrex, Poloniex, Kraken, Bitfinex.

Here is the list of most reliable sources to buy cryptocurrencies with local official currency(FIAT):
If your country is not mentioned, find out the exchange nearest to your countries from this table, if such exchange is covering your area.

North America

Countries                          Cryptocurrency Exchanges
USA                /CoinBase , Bittrex, Kraken, Poloniex, Gemini, Abra
Canada          /Kraken, QuadrigaCX, and Coinsquare,
Mexico          /Bitso
South America
Brazil             /FlowBTC
Argentina      /Ripio
Venezuela     /SurBitcoin
Chile              /SurBTC

Europe
EU Countries  /Kraken, Bitstamp
Ukraine            /Kuna Exchange

Asia
China               /Huobi, OKCoin, and BTC China
Japan               /Quoine, Coincheck, and Kraken
Thailand          /bx.in.th
South Korea    /Korbit
India                 /Coinsecure
Phllipines         /Coinage and BTCExchange
Turkey:             /BTC Turk
Malaysia           /Coinhako, Luno.
Vietnam            /VBTC
Taiwan               /MaiCoin
Indonesia          /Luno
Israel                  /Bit2C
UAE                    /BitOasis
Kuwait                /BitFils

Oceania
Australia            /CoinSpot
New Zealand     /NZBCX

Africa
South Africa      /Luno and Ice3x
Nigeria                /Luno
Tanzania             /BitPesa
Uganda                /BitPesa

IMPORTANT:
Some websites of most exchanges have being cloned or faked with misspelled domain names. Never send your confidential information to any site asking Private Keys and always check the urls for spelling errors.

Gemini
Gemini was founded by twin brothers named Tyler and Cameron Winklevoss, The exchange is based in New York and was launched on the 8th of October,2015. At the take –off of operation, It only allowed US citizens in 26 states to make use of the exchange. The reason for this decision is yet to be ascertained as at the time of writing this guide. It might be not to test the depth of a river with two legs, I’m just guessing any way!.
Gemini is a fully regulated licensed US Bitcoin and Ether exchange just like a conventional bank. Also, all USD deposits are kept at a FDIC-insured bank and the large percentage of digital currency is held in cold storage. Gemini is traded in three currencies, bitcoin, ether and US dollars, so the platform cannot allow trading with other currencies. The exchange gives huge discounts for high volume trade and all deposits and withdrawals attract no free.
As at 2017,the platform is available to customers in 42 US states(excluding Alaska, Arizona, Hawaii, Michigan, Oregon, and Washington), and also available in Canada, UK, Japan, Hong Kong, Singapore and South Korea.
Pros: Gemini is highly secure, high liquidity and they follow due diligence in handling transactions. The design is user-friendly.
Cons: Accepts limited currencies, average customer support, limited worldwide availability and no app for Android or iPhone devices.

Bittrex
Bittrex was founded by four men in the persons of Bill Shihara, Richie Lai, Rami Kawach and Ryan Hentz.  Bittrex provides individuals and corporate entities an excellent platform to buy and sell cryptocurrencies and tokens. It is one of the biggest crypto to crypto exchanges offering exchange pairs to bitcoin and altcoins. It is based and fully regulated by the USA regulatory agency. Bittrex is the right place for traders who want fast execution, unlimited trading operations and high security with two factor authentication.  Bittrex exchange does high turnover cryptocurrency exchange leading to wide spread speculations and accusation that, it is allowing pump and dumb trading that endangers confidence in the cryptocurrency ecosystem. It welcomes both old and new users to the its’ exchange web.
The platform is available to customers in almost all the countries of the world.
Pros: Has the large volumes for all major altcoins ,no withdrawal or transaction limit, high security with two factor authentication. Complete and easy API that makes exchange fast
Cons:     Much improvement is needed in the area of customer support.

Poloniex
Poloniex is one of the leading cryptocurrency exchanges in the cryptocurrency market today. It offers one of best secure trading platforms with more than 100 different Bitcoin pairings. One of the features that, you will really admire about Poloniex is their advanced tools and data analysis for experienced traders. With the popular exchange platforms that turn out high trading volumes, users will be able to close a trade position at a stipulated time.
Poloniex employs a volume dependent fee that is,the more you exchange, the lesser the charging fee in its exchange scheme. Sender-receiver(maker-taker) fee schedule for all exchanges vary depending on whether you are the sender or the receiver. For senders, fees range from 0 to 0.15%, depending on the amount involved. For receivers, fees range from 0.10 to 0.25%.
There are no charges for withdrawals except the transaction fee required by the network. One of the unique tools on the Poloniex platform is the 24/7 chat box with ever present user support ready to assist on everything.
Please visit their site to see how user friendly the site is and explore the features in that site.
The platform is available to customers in almost all the countries of the world.
Pros: Fast account creation, features rich, BTC lending, user-friendly website, low trading fees, high-volume trading and open API.
Cons: Slow resolution of issues by customer support team, no fiat support.

Liqui.io
Liqui.io is a Ukraine-based cryptocurrency exchange with a platform that allows users to buy and sell Bitcoins and other cryptocurrencies.  Liqui.io is an exchange which you can pair BTC with more than a twelve supported cryptocurrencies. Liqui offers IOU market that will allow users to trade cryptocurrency coins from ICOs that are yet to commence trading business.
Liqui project is run by seven wise men who are working round the clock to package something new and juicy into the cryptocurrency market. Presently Liqui’s exchange is not ‘white label’ but soon after the launch they are going to tackle all the issues, be able to add fiat currencies and be white labelled:these are words of the men behind Liqui.io.
The platform is available to customers in almost all the countries of the world.
Pros: Creating a new account with them is very easy, multiple trading options to choose from (BTC, ETH, and USDT)
Cons: Their platform does not support any FIAT currency, low security features as there is no verification level required to start exchange.

Bitfinex
Bitfinex is one of the world’s leading cryptocurrency exchanges even though it suffered a major setback in 2016 as a result of the platform being hacked. Bitfinex started in Hong Kong, the company penetrated the cryptocurrency market in 2012, and has since  then, enjoyed steady growth. Today, Bitfinex exchange’s daily volume is worth 1$ billion . It has sophisticated exchange features, deep liquidity and access to multiple altcoins, which has made Bitfinex an ideal place  for serious traders.
Bitfinex has a customizable interface that could enable you to personalize your exchange platform. The platform is fully equipped with margin trading option.
The platform is available to customers in almost all the countries of the world except USA.
Pros: High Bitcoin liquidity, Good charting by TradingView and competitive commission  structure.
Cons: Does not accept US clients because of some regulatory issues, only accepts payments in cryptocurrency.

Coinbase
Coinbase is one of the strongest allies of bitcoin, supported by trusted investors and used by millions of customers worldwide. The exchange platform makes it fast and easy to securely buy, sell, store and exchange cryptocurrency. Users can buy or sell Bitcoins, Ether, Litecoin and other cryptocoins from Coinbase through their electronic wallet available on Android and iPhone. cryptocurrencies can also be purchased through exchange from other users on the company’s Global Digital Asset Exchange (GDAX) subsidiary. GDAX is currently operating in the US, Europe, Australia, Canada, and Singapore. GDAX does not  charge any fees for transferring funds between your Coinbase account and GDAX account.
The platform only accepts customers  from  Australia, Europe, Canada, Singapore, the United States and  the United Kingdom.
Pros: Good reputation, reasonable fees, high security, friendly interface for new users, stored currency is covered by Coinbase insurance against any unforeseen circumstances(the only one of its’ kind)..
Cons: Delayed customer support, few countries supported, limited payment methods, non-uniform rollout of services worldwide, GDAX suitable for technical traders only.

Abra
Abra is a bitcoin-based digital wallet app that is stored on your smartphone. With Abra you can quickly and easily buy, sell, send, and store bitcoin. Abra started in Philippines with a strong business presence in the United States of America.
Abra is a platform that enables one to transfer money around the globe using bitcoin. The platform has a bitcoin-based digital wallet application, you can  install on your smartphone.
The funding of your Abra app can be done using bitcoin, American Express credit cards or your bank account or even cash. If you’re funding your Abra account with cash, you’ll need to visit an Abra Teller in your area, pay the teller cash and the money will be transferred to your smartphone. This process is as fast as the speed of light.
Abra supports 50+ currencies with no sending fees. You can also buy things online wherever Abra or bitcoin is accepted.
The app software is very useful to those who want to transfer funds between the United States and the Philippines, as the app supports bank account transfers in those two countries. I encourage anyone residing in either of these two countries to use the services of Abra for your exchange transactions. All other countries, however, can still send and receive Abra payments through an Abra Teller.  The platform is only available to customers  from the United States and Philippines.
Pros: Low fees, high security, Mobile App. Very fast in transferring funds.
Cons: Few countries supported , Not popular.

Kraken
Kraken started in 2011 and is the largest Bitcoin exchange in European cryptocurrency market. Kraken’s daily volume transactions and liquidity are awesome. It is a partner of the first cryptocurrency bank and is partnering with many European banks. Kraken offers users the platform to buy and sell bitcoins and exchange between bitcoins and Euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen. It’s also possible to exchange digital currencies other than Bitcoin such as Ethereum, Monero, Ethereum Classic, Ripple,ICONOMI, Zcash, Litecoin, Augur REP tokens Dogecoin, Stellar/Lumens and others. Kraken offers margin trading. Kraken is a great choice for more experienced users and those who want to concentrate on European cryptocurrency market. The platform is only available to customers from the United States, Canada, Japan, EU countries and many other countries especially if you have a bank account in the mentioned above countries.

Pros: Good reputation, decent exchange rates, low transaction fees, minimal deposit fees, feature rich, great user support, secure, supported worldwide.
Cons: Limited payment methods, unintuitive user interface.

Loading data ...
Comparison
View chart compare
View table compare