With so Many cryptocurrency exchanges “out there” which one is the best? “The Best” is a matter of conjecture based on your goals. Are you a collector of cryptocurrency, are you a miner, are you a coin-staker and minter of cryptocurrency, arbitrage trader, or are you a heavy trader of cryptocurrency? Are you a combination of one or more of these categories? The determination of your goals will dictate which or how many exchanges you open accounts in. The goal of this article is to look at some of the primary features of the different exchanges and what makes those exchanges unique.
The first exchange that we will look at is Coinbase. Coinbase is one of the oldest Crypto-currency exchanges. It is a US based cryptocurrency exchange. Coinbase only deals in the Top 4 coins only: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. They offer both Hot and Cold Storage of Cryptocurrency. Hot storage can be transferred immediately and cold storage (offline) is more secure and used for long-term investments or large amounts of Crypto-currency.
Another unique feature is you can transfer any of these 4 coins from any other exchange to Coinbase and turn it into cold hard cash. The cash can be deposited into your personal bank account via ACH-deposit. Cash, but not cryptocurrency, held on the Coinbase site is FDIC insured to $250,000.00. A Coinbase account is a must for anyone who wants to convert their cryptocurrency profits into their local currency regardless of their overall crypto-currency goals.
You can visit them by clicking here, Coinbase. The site will open in a new tab.
Bittrex is another exchange with a rather long life. It began in 2014 and is also a US based exchange. Bittrex offers the 4 top coins plus a host of well established Alt-Coins from the top 500 crypto-currency list. You typically will not see new coins listed on Bittrex.
Transfers to and from Bittrex is very quick, considering that coins moving on the block chains can be rather slow (block chain updates and transfers can take 15 minutes to several days depending on the quantity to be moved that is out of Bittrex control). Buying and selling in the market is very fast. Corporate customers can now buy Crypto-currency with US dollars on this exchange and they plan to open that up to all qualified buyers. Currently non-corporate accounts can only exchange crypto-currency for crypto-currency on the exchange.
You can visit them by clicking here, Bittrex , The site will open in a new tab.
Hit BTC market has been in business since 2013 and is based in Hong Kong. Although it is a foreign company (I live in the United States) they have a fantastic reputation and the exchange does in excess of $100 million US Dollars a day in transactions.
Two of the aspects that make Hit BTC unique is that it allows for credit card purchases of Bitcoin and it also offers margin trading as well as a regular exchange for those who hold crypto-currency long. Transfers and trades are executed quickly and efficiently and have several hundred trading pairs.
You can visit them by clicking here, HitBTC , The site will open in a new tab.
The KuCoin exchange is also a relative newcomer. It was started in the last quarter of 2017 and is headquartered in Hong Kong. The exchange does about $50 million US Dollars in trades a day.
The one thing that is unique about KuCoin is the KuCoin token and its benefits. Holders of KuCoin tokens (at least 6 coins) receive a portion of the trade fees collected each day. Those trade fee dividends are paid out in the coins collected. Each day KCS holders receive Bitcoin, Ethereum, Litecoin, and a portion of every other token listed on the exchange that had trade fees associated with a dividend value of 1 satoshi or more. Distribution of dividends are based on the number of KCS you hold. The more you hold the higher the dividends you receive each day.
In addition those who hold 1000 KCS (KuCoin share tokens) or more receive a 1% discount on their trade fees for every 1000 coins they hold up to 30%. That is in addition to the dividend payments. At the time of writing KuCoin has several hundred trading pairs and the KSC tokens are currently trading at approximately $3.00 US Dollars, each.
You can visit them by clicking here, KuCoin , The site will open in a new tab.
The Binance Market is a relative newcomer. The opened their exchange is 2017 and are headquartered in Malta (a European Island between Sicily and North Africa). They are extremely popular and the exchange does in excess of $500 million US dollars a day in transactions.
One of the things that makes Binance unique is that they allow all users to purchase Binance tokens. Token Holders trade fees are 50% less that standard fees when those fees are paid with the exchange token. The exchange token also has a value which can be traded for other types of cryptocurrency (at the time of writing a Binance token is worth about $14.00 US dollars). Binance tokens are trade paired along with Bitcoin, Ethereum, and US dollar Tether (a token that has the same value as a USD and trades as if it was a USD). Binance has several hundred trade pairs including some of the newer coins.
You can visit them by clicking here, Binance , The site will open in a new tab.
BTCpop is a very unique site among exchanges. It is based in the United Kingdom and was opened in 2013. The exchange has some pretty serious offerings beyond just trading crypto-currencies but be forewarned this site is not very user friendly for noobies.
What makes the site unique. Well actually a lot of things this site may be the forerunner to the future bank. It does offer a crypto-currency exchange in which many of the coins offered (beyond the staple coins like bitcoin etc) are staking coins. Without going in depth about staking coins, the high and low is you receive interest for holding the coins in a wallet on the website that range, depending on the coin, from 1% to 500%+.
The site also allows investors to buy and create loan requests and bonds both for personal use and for business use. They also offer cloud mining. In a few words they act like a crypto-currency bank and coin broker.
You can visit them by clicking here, BTCpop , The site will open in a new tab.
Tradesatoshi is an exchange that was started at the end of 2016. It is a Hong Kong based exchange. The site offers 100’s of coins on the exchange to trade including some newer and some staking coins. They are one of the larger Hong Kong exchanges.
What is unique about this site is it has one of the largest offerings of crypto-currency faucets that I have ever seen in one place. Once a day per coin you can make a faucet claim for free and that faucet claim will post the crypto-currency to your tradesatoshi wallet. Now faucet claims are never very large amounts of any currency (usually pretty small fractions of a coin) but for the beginner just learning about crypto-currency and different coins it is a great place to discover new and existing coins and get a little crypto-currency for free just because you hold an account with them. The faucets range from BitCoin to some of the newest coins on the market.
You can visit them by clicking here, TradeSatoshi , The site will open in a new tab.
Altex is a very new exchange that was launched in 2018. Altex exchange specializes in privacy (Cryptonight and its variants) coins that are mine-able with a CPU-GPU. It is quickly becoming a favorite of CryptoNight miners bringing new coins to the public.
The unique feature of this site is it is primarily used by CryptoNight miners to trade/sell newly mined privacy coins. This market, with the exception of Bitcoin and Litecoin only offers privacy coins, that is the ones that are intentionally designed to be hard to trace to the owner. They have fewer than 50 coins that trade on the market but some of which are big names and future big names such as Monero. New born CryptoNight coins can be traded in speculation on this market or transferred and held in the online wallet or transferred to a paper or PC wallet before any other crypto-currency market picks them up for trading on their exchange.
You can visit them by clicking here, Altex , The site will open in a new tab.
Stake United is not necessarily an exchange but rather a Coin Staking and Masternode pool that you can deposit coins, bought on other exchanges, and collect interest on those coins. Stake United Stakes some of the newer Staking coins as well as some of the “old reliable ones”. The admins are well known in the Crypto-currency community. Stake United is the answer to the age old question “now that I bought these coins and I intend to hold them for awhile what can they do for me”.
With Stake United if it is one of their masternode or staking coins the coins you hold can create more coins based on the interest rate set to hold them. The current interest (or staking rewards) ranges from 1% to over 500% APY based on the coin and project details. Stake United does not set the Staking or masternode interest rates the initial coin developers do. When you stake in a pool you gain the strength of that pool and your coins stake more often, which means you earn more coins and more money.
You can visit them by clicking here, StakeUnited , The site will open in a new tab.
There really are many many exchanges popping up all over the place. The one thing I can say about these specific exchanges is I actively use them for buying, selling, staking, trading, and banking cryptocurrency. I strongly believe that crypto-currency will be the “dollars of the future” and the way business and individuals transact daily business.
That said I wanted to provide some basic information about exchanges that offer “just a little more” than acting as an exchange between coins an/or fiat currency. I wish you all the success in the world, that you are willing to work for.
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