This guide will teach you to choose the best cryptocurrency exchange. We have come up with the list of best cryptocurrency exchange in 2018 for you.
What is cryptocurrency exchange?
Cryptocurrency exchanges are the websites where people buy and sell crypto coins for other digital currencies or traditional currencies like INR, USD or EURO. For those who want to trade professionally, and have some fancy trading tools, you will most likely need to verify your identity to open an account.
Best Cryptocurrency Exchange
There are various cryptocurrency exchanges available in the market where you can buy coins but finding the best one is a bit tough. I will mention some of the most-trusted platforms where you can buy the Coins or Tokens. Most of the exchanges offer only the top coins like Bitcoin, Etherum, Bitcoin Cash and Litecoin.
This article will get you an informative idea to make a proper decision on where you should buy coins, what factors you should consider while exchanging a coin or opening a crypto account.
Converting Traditional Currency to Cryptocurrency
If you are new to the crypto world, your first step will be to buy coins with real money like USD, EURO or INR. For that, you need to deposit money in Crypto wallets like ZebPay (in India) or Coinbase (in the USA). You can place an order to buy your required coin with the deposited money.
Note: Due to regulations, your exchange may ask you for an ID proof before activating your crypto wallet.
You need to find a trusted exchange in your domestic country to convert your bank money into Bitcoin or any other Cryptocurrency.
Cryptocurrency Exchanges in India
In India, Bitcoin fever is hitting up with over 2,500 users with trading Bitcoin daily. Trading volume gets rise up to $20 Bn in a year. The government policy is still in cooking mode, where the majority of the exchanges have already adopted KYC way to decrease the trading risk.
Following are the Best Cryptocurrency Exchanges in India:
(Please note, the order is random, and the information is collected from the Press Statement)
Cryptocurrency Exchanges in the USA
The USA is the home of the world’s largest crypto companies. So no surprise to buy a Bitcoin, Etherum, Ripple or any other coin easily with any payment method: Cash, Bank Transfer or Credit Card.
Following are the Best Cryptocurrency Exchanges in the USA:
- Athena Investor Services
- Wall of Coins
Things to consider before buying a coin from an exchange
Here are some important things you should consider before making your first cryptocurrency trading:
Reputations: The most important factor is to check the exchange company reputation. In India, Zebpay is the most reputed brand to buy and sell Bitcoins. Coinbase is #1 in the USA. To know more about your domestic exchange company, check out the client reviews on their website forum or app in Play Store.
Fees: All exchange companies have their fixed fee-related information on their websites. Before joining, make sure to check and understand the Deposit, Transaction, and Withdraw fees. Make sure to choose the exchange that has fewer fees rate.
Payment Method: Make sure to check the payment method for buying the coins. It may be Internet Banking, Credit Card, PayPal or Payoneer. If there is a limited payment option, it may not be convenient for you to use. Buying cryptocurrency via Credit Card may required additional ID verification – depends on your country regulation.
Verification: Majority of the Bitcoin trading platform in the USA and UK need identity verification to deposit and withdraw currencies. Also, some exchanges allow you to remain anonymous. But if a verification requires, it may take a week to get approved depending on your exchange load.
Country Restrictions: Some exchanges offer user functions from specific countries only. Make sure the exchange you want to join allows full access in your country.
Exchange Rates: Rates are very on the different exchanges. No surprise, it fluctuates insanely. You can save hell lot money if you choose your exchange wisely by checking their market rates.
Ease of Use: The User Interface of Exchange Website or App should be good and easy to understand. Make sure to understand the site or the crypto application, and how to use your account for a safe transaction.
You should not get messed up in the site by seeing several options. For example, a newbie may get afraid by looking at the interface of Binance having so many graphs. But once you understand it properly, you would really love to use.
Customer Care Quality: Having a responsive customer support can save your time and anxiousness. Sometime, you may face transaction issue, issue on your verification process, and trading order or withdraw/deposits fund reflection problems may occur. You should check out the client reviews for customer support quality before joining the sites.
Crypto Security: Your coins are with the exchange company. So, the level of security mechanism used by the company is vital to ensure that your coins are safe with them. The availability of 2FA (2-factor authentication) increases the security of your account.
How to Convert Cryptocurrencies?
Converting cryptocurrencies is not a hard task to do, but it should be done with caution. Sometime you may need to convert cryptocurrency (like Etherum to Bitcoin, Ripple to Bitcoin, or Bitcoin to Etherum). You can do any cryptocurrency conversion using the Chinese based platform known as “BINANCE“.
Binance is not a Bank, neither a place to Buy Coins with Bank money. It’s a platform mainly focus on crypto-to-crypto trading. The platform has started gaining popularity among the Blockchain community offering insanely low trading fees. Majority of the coins can be deposited or withdrawn on Binance wallet.
You can receive Etherum from your client and sell the same with Bitcoins on Binance. Selling coins on Binance is instant. You will get BTC on your Binance wallet instantly after clicking the “Sell ETH” Button as shown in the above picture.
Once you get the coin on your Binance wallet, you can withdraw it to your domestic exchange wallet using BTC address, where you can sell your Bitcoin with real bank money.
Exchange any coin with Bitcoin or any other coin which you like to convert.
Check out the Video below about Binance / BNB – How to use an exchange tutorial:
Some good reference for Binance tutorial:
- Beginner’s Guide to Binance: Complete Review
- How to Buy Cryptocurrencies on Binance
- Guide to Binance Exchange: How to Open Binance Account and What You Should Know
- The Absolute Beginner’s Guide to Cryptocurrency Investing
Convert Bitcoins into Ethereum Instantly Using Changelly:
Bitcoin, Etherum or Litecoin: Which is best for you to Invest?
Bitcoin 101: Bitcoin was the first cryptocurrency released in 2009. It is well established and most valuable coin in the Crypto World. This digital currency has been racking up the press headline from last year due to the breathtaking rise in value up to $19,000, a coin.
Check out this article about Bitcoin: Cryptocurrency – What You Need To Know About Bitcoin
Ethereum 101: It’s like Bitcoin having same fundamental Blockchain concept, with blocks and hashes and such. Etherum has a goal of using blockchain technology to replace internet third parties – those that store data, keep track of complex financial instruments, and transfer mortgages.
Litecoin 101: Backed with the same underlying code, Litecoin is so close to Bitcoin, but with a few distinctive tweaks. The main difference is that Litecoin is mined using the Scrypt algorithm which is more simple than those used by Bitcoin’s SHA-256 algorithm.
Which is the Best Cryptocurrency for you to invest?
As always, Bitcoin is #1 in the Crypto World having the highest frequency of trading rate. Once upon a time in 2010, $10 was a coin. But the rocket smashed the market with a remarkable surge in November 2017, it crested at $20,000. However, the price is dropped now and is fluctuating every day.
Litecoins sometime become “silver” to Bitcoin’s “gold”. The Litecoin trend is almost similar to Bitcoin and sits at around $180.
Etherum is on the follow too, charted its own distinct path, spiking in June 2017, and touched $1000 in the early January.
Which coin the best for you?
No one can answer this question. We don’t know whether any cryptocurrency will increase its value.
If you are looking at the most advanced, highest market capitalization, and unmatched popular visibility, Bitcoin is the mainstream choice.
Etherum has some heavy strokes name – which could be either a benefit or drawback for you, depending on the opinion of the modern financial, industrial complex.
Litecoin offers several advantages. The owner is highly active in many cryptocurrency forums. The transaction of Litecoin is so fast – a potential advantage for crypto traders. Unlike Bitcoin, it offers the potential of profitable mining.
Regardless of which sounds more profitable for you, do research before investing in any cryptocurrencies.
You should buy Coins when its price gets dropped at the minimum level and sell once the value increases.
Some Interesting Crypto Article on Trendy Tattle you may LIKE to read:
- Bitcoins and Cryptocurrency – Lend and borrow?
- An Exclusive Interview with Michael Ryan and Dr. Nobles about Cryptocurrency
- Could Blockchain Technology be a Boon for the Music Industry?
- Changes in eCommerce with Blockchain Implementation
- Interview with Marten Jung about blockchain and how it influences businesses
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