Top 10 Digital Currency Exchanges
As someone who wants to use any type of digital currency, you are going to need to find somewhere that you can buy it and also sell your digital currency and turn it into any worldwide currency you want to sell it for.
The way in which you do so is by using something known as a Digital Currency Exchange, and once you have found you wish to use then you can buy any value of digital currency or exchange any current holding of any crypto currencies and turn them into hard cash.
However, one thing you do need to be aware of is that there are quite a number of different Digital Currency Exchanges, and in this guide we are going to take a look at the top 10 Digital Currency Exchanges and give you an insight how each of them operates too.
We are of course aware that if you are new to the world of digital currencies, then you may have many questions in regards to sing those currencies and exchanges too, and as such below you will also find an overview of the most frequently asked questions related to that topic along with the answers to each of those questions.
- Top Digital Currencies
- Different Types of Digital Currency Exchanges
- A List of the Top Digital Currency Exchanges
- Digital Currency Exchanges Questions and Answers
- 1. How can I check an exchanges reputation?
- 2. Will the trading fees vary from exchange to exchange?
- 3. Do all exchanges trade every single type of crypto currency?
- 4. Can I have more than one crypto currency wallet?
- 5. Are there any trading limits when using an exchange?
- 6. What payment methods can I use on an exchange?
- 7. Are crypto currency exchange rates set in stone?
The first type of exchange you will some across are simple trading platforms and those are simply websites that will connect a buyer and a seller of any ones specific crypto currency and will take a small fee for connecting those people up to each other to allow them to perform their transactions between them
The other way you can buy and sell your crypto currencies is via a Direct Trade, the main benefit of is such an exchange is that it is the seller that sets exchange rate for their transaction as there is no fixed market price associated with using such an exchange, and as such it may be possible for a seller and for that matter a buyer to put together an appealing exchange rate for all transactions.
Another way to buy and sell digital currencies is by going through a Broker, it is however the Broker that determines the exchange rate and as such you are going to be best advised to shop around to ensure the one you choose is offering you the best exchange rate, no matter whether you are buying or selling a digital currency.
You will now also find a range of ATM’s that are going to allow you to buy digital currencies on the spot in cash, or sell your digital currency, once again on the spot and by doing so you will then be paid out the value of your sold digital currency in cash in the local currency there and then!
It is going to be your decision and your decision alone as to not only which digital currency exchange you use, but also when you choose to use it.
With that in mind I will now take a look at the top ten crypto currency exchanges, and let you know a little bit about each of them and will also give you an insight into how they operate and also anything unique that each of them may also be offering you too.
One of the biggest and most utilized exchanges is CoinBase, and they have been used seamlessly by millions of people based all over the world.
Much like all other exchanges CoinBase allows you to both buy and sell crypto currencies but you can also store and trade them in the digital wallet they also have available.
The digital currencies you can trade when using their platform is Bitcoin, Ethereum and also Litecoin too. They do offer both an iPhone and Android wallet or if you prefer you can use their Global Digital Asset Exchange.
That is known as GDAX and it is available to anyone that is based in the US, the UK, any European country and also Australia, Canada and Singapore too. One benefit of using CoinBase is that they do not charge you any fees to move crypto currencies between your CoinBase account and your GDAX account.
There are a few restrictions however in regards to which digital currencies you can trade on their exchanges which will be dependent on just which country you are in.
You will also be very pleased to learn that all of the currency you choose to store with them is covered by CoinBase Insurance.
Kraken was launched back in 2011 and what makes them fairly unique is that they are a partner in the very first crypto currency back to open, and they also process some of the largest volumes of Euro transactions too.
However, you are not just restricted to turning your Bitcoin into Euros, for you will be able to trade them in an exchange them for US Dollars, Canadian Dollars, British Pounds and Japanese Yen too.
There is also an added benefit of using Kraken and that is you are also going to be able to trade additional currencies in addition to Bitcoin, and the digital currencies that they will allow you to trade include Ethereum, Monero, Ethereum Classic, Augur REP tokens, ICONOMI, Zcash, Litecoin, Dogecoin, Ripple and Stellar/Lumens.
One major attractions of Kraken for most of their customers is the fact that they have some of the very lowest of transaction fees, and some quite modest minimum deposit fees too, and they do of course offer a first class customer service facility too.
One aspect of using the exchange at CEX.IO is that it is a very user friendly digital currency exchange, and as such if you are fairly new to the crypto currency trading environment you are going to find it very easy to use their exchange.
They do offer a range of different crypto currencies that you can both buy and sell on their exchange and they also now offer a brokerage service if you are looking or a much more personalised touch when trading.
Their exchange is of course highly secure, and one that will not charge you ridiculously high fees and charges, but it is certainly an exchange I would urge first time and inexperienced users of crypto currencies as you will never run into any type of problems when using their exchange.
You are also going to find a wealth of valuable information on their website if there does happen to be anything you do not understand about their services.
You will often find that you are going to be required to sign up and register as a user for most digital currency exchanges however the main attraction for users of ShapeShift is that you will be able to make trades without having to sign up and register as a new customer of theirs!
Be aware though that you are not of to be able make a purchase of any crypto currency using any type of credit card or debit card when using their exchange.
It is simply an exchange that allows you to instantly and seamlessly turn one crypto currency into another crypto currency with the minimum of fuss and effort.
If you are interested in using the ShapeShift exchange then I would advise you to take a look over their website to get a good idea and a feel for the unique set of services they have to off you, and then judge for yourself if they are can exchange you wish to use.
For reference the crypto currencies that you are going to be able to trade include Bitcoin, Ethereum, Monero, Zcash, Dash, Dogecoin and quite a number of additional ones too.
It was in the year 2014 that Poloniex was launched and since then they have gone from strength to strength and have now become one of the major players in the crypto currency exchange and trading environment, and as such they may be the ideal exchange for you to use.
They are best famed for the fact that you will have over 100 different crypto currency pairings and they do also boast a range of advanced tools too for those looking to trade digital currencies.
Be aware that much like all other exchanges and trading platforms you are going to have to pay some fees and charges if and when you so decide to use Poloniex, however these fees and charges are by no stretch of the imagination excessive.
There are plenty of additional tools and settings that you will be able to make use of as a customer of Poloniex, and with that in mind I would advise you to spend some time looking over their website to discover just what they are and how they can benefit you too!
BitStamp are based in Europe and went live back in 2011, being one of the very first digital currency exchanges they quickly became one of the most popular ones and have, over the years, built up a solid customer base who prefer using the services they offer.
Keeping your Bitcoin securely stored is something that BitStamp are both pioneers of and is famed for and as such they do offer some of the most advanced security features. Their Bitcoin Wallet is one of the most advanced ones yet easiest ones to use, and this would be an ideal exchange for anyone using Bitcoin to use.
Another benefit of using BitStamp is that they offer and around the clock customer support service which users can a slot access in a range of different languages. More information on BitStamp can of course be found on their website, which is one I would urge you to visit if you are looking for a highly secure digital currency exchange and Bitcoin Wallet interface.
You may start to get overwhelmed when you first wish to start using crypto currencies and also wish to start trading any of the many different crypto currencies too, and as such if that is something you have found then CoinMama may be the exchange of you to consider using.
They are probably one of the most user friendly exchanges around and have designed their entire platform to appeal to both inexperienced and experienced traders, so you will certainly not find any aspect of it confusing!
What you are going to be able to do is to purchase crypto currencies such as Ethereum and Bitcoin using cash, credit cards or even a money transfer service such as Western Union and MoneyGram, which is going to allow you to make purchases of those to crypto currencies an absolute breeze and a completely hassle free experience too.
There are also a range of different language options and settings and as such you are going to be able to use their services on offer in English, German, French, Italian and Russian too.
There are some exchanges that offer a peer to peer type of service and one company that does is Bisq formally known as BitSquare. This is quite a popular digital currency exchange and one that is going to allow you to both buy and sell Bitcoin in a range of different currencies or even crypt currencies too.
There will be no need for you so sign up and register to use their service as it is a peer to peer one, however to be honest if you are fairly new to using Bitcoin then this may not be the exchange of you to use, as you will need some experience in trading before you use it.
The fees and charges you are going to have to pay are not in any way excessive at Bisq, in fact their fees and charges are some of the most reasonable ones around, so it is certainly another exchange for you to consider using if you wish to trade digital currencies in a very cost effective way.
There is a very unique service on offer by LocalBitcoins for they offer a peer to peer type of digital currency exchange that will link you up with traders in towns and cities across the world allowing you to trade your crypto currencies in person and on the spot no matter where you happen to be.
You are also going to be able to buy and sell your Bitcoin holdings using a range of different payment methods including but not limited to Skrill and Paypal or even buy using cash deposited into a local bank too.
It is the sellers of Bitcoin who will set their own exchange rates when sign the LocalBitcoins exchange and the LocalBitcoin charge a very modest and low 1% commission on all transactions which the sellers pay.
All sellers are also rated, and as such that reduces any type of risk of selecting one from those they have available in your local area. No identification is needed to use LocalBitcoins and they have made their exchange as easy to use as is possible so it will be suitable for novice and first time Bitcoin traders too.
Possibly one of the best known digital currency exchanges is the one that was started by Tyler and Cameron Winklevoss that being Gemini.
What differentiates Gemini from most other exchanges is that they are both a fully licensed company and also fully regulated company too, and as such they do have to adhere to the same set of standards in regards to their operation as a banking institution does!
All of their US Dollar customer deposits have to be stored in an FDIC insured bank and also their crypto currency is held in cold storage too.
There are three different currencies that you will be able to buy and sell when using the service of Gemini, and those include Bitcoin, US Dollars and Ethereum too.
In regards to where they can accept customers from, they are licensed to operate in the US, Canada, Hong Kong, Japan, Singapore, South Korea and also in the United Kingdom too. If you are looking for a solid and highly regulated crypto currency exchange then this is certainly going to be the one for you.
In this final section of my guide to the top 10 digital currency exchanges I am going to give you the answers to some of the most asked questions related to crypto currency exchanges.
With that in mind if you do have some questions related to that topic please read on as you may find the answers to those questions below! But do also consider making use of some of the additional guides and articles dotted around this website.
If you want to have the maximum security when using any type of crypto currency then checkout websites such as the BitTalk Forum or even use one of the fully licensed and regulated exchanges for maximum protection.
By opening up several different digital currency exchange accounts you are then going to be able to instantly use the one that is offering you a preferable exchange rate when you do wish to make any trades.
You will course find dotted around our website a whole host of reviews and guides that will enlighten you on just which crypto and fiat currencies are available at each of our featured exchanges, so please do make use of those guides and reviews.