Looking to spend some of your precious vacation time to finally dip your toes into the sea of cryptocurrencies? The cryptocurrency space is a scary place to enter for anyone. So picking one of the best cryptocurrency exchanges out there can really make a difference, and in some cases, save you a lot of money and headache. Buying bitcoin and other cryptocurrencies have gone mainstream and new exchanges are popping up everywhere. This is making it hard for people to know which ones to trust and use so here is according to us the 5 best cryptocurrency exchanges that are a safe bet for you in the summer of 2018.
Coinbase – The most beginner-friendly cryptocurrency exchangeCoinbase is one of the fastest growing cryptocurrency exchanges on the market today. This is much because it’s ease of use and great user experience for beginners. Making it the perfect starting point for anyone just getting into cryptocurrencies. That’s why they at the end of 2017 was signing up 100 000 new users every day!
Coinbase requires you to verify your identity with an ID such as a passport or driving license. This process is, however, very quick and you will probably be ready for your first cryptocurrency investments in just a couple of minutes. It is also one of the few exchanges that allow you to invest in bitcoin, ethereum, litecoin and bitcoin cash using a regular credit or debit card. Buying with your credit card is at the cost of a higher fee but also gives you your cryptocurrency in just seconds.
Coinbase also supports bank transfers to your Coinbase account which lets you transfer higher amounts at a lower fee. They also give you $10 of bitcoin when you invest your first $100 if you sign up through this link!
Pros and cons with Coinbase
✅ Accepts many different payment options
✅ Beginner-friendly platform
✅ $10 in bitcoin for free when you sign up through our link
✅ Very high security
✅ Quick verification
⛔ High fees
⛔ Sometimes get’s over-loaded on big price-movements
Binance – The worlds largest cryptocurrency exchange
Even though being founded just last year, Malta-based Binance has seen exponential growth and is today the biggest exchange in the world. Supporting a huge range of cryptocurrencies for low fees on a great trading platform are the main reasons behind its success.Binance is a cryptocurrency to cryptocurrency-exchange, meaning that you deposit your bitcoin or ethereum which you then can trade for the over 100 altcoins listed such as Ripple, EOS, and IOTA. This also means that you can’t purchase cryptocurrency using your credit card or bank transfer. So you will have to use an exchange such as Coinbase first to buy bitcoin that you then can send to Binance.
Pros and cons with Binance
✅ Has the most volume of all cryptocurrency exchanges
✅ Best cryptocurrency exchange app
✅ Very low fees
✅ High security
✅ Quick verification
⛔ No credit card or bank transfer purchases
Changelly – Swap Cryptocurrencies EasilyChangelly is yet a different kind of exchange where you neither deposit bitcoin or using bank transfer or credit cards. You don’t even have to sign up an account. Instead, you enter what cryptocurrency you want to trade and what cryptocurrency you want to receive. Then you simply send your coins, enter the address where you want to receive your new coins and Changelly will complete the trade at the market rate.
This makes for a super-easy and convenient process. That also can be very useful when there are big movements in the market, and you want to get into a cryptocurrency quickly.
Pros and cons with Changelly
✅ The quickest way to trade cryptocurrencies
✅ No need to store your coins on an exchange
✅ High security
✅ No ID verification needed
⛔ Fees can be high
CoinFalcon – Superb user experience and ease of use
One of the freshest, and perhaps the slickest, exchanges on the scene is Coinfalcon. With an user-interface that even trumps our first pick Coinbase, Coinfalcon also offers a wider range of cryptocurrencies. It is, however, a very new platform and therefore it will be some time before one can tell how secure it is. So as always, keep the majority of your cryptocurrencies in a wallet you control!
Pros and cons with CoinFalcon
✅ A great looking user interface
✅ Actively adding new cryptocurrencies
⛔ Not available for U.S customers
⛔ Fairly new and unproven exchange
Last but not least, Coinmama is a great pick especially for beginners looking to purchase their first cryptocurrency for smaller amounts.
Pros and cons with Coinmama
✅Easy to use
✅ Great for credit and debit card purchases
✅ Cryptocurrency sent directly to your own address
✅ No verification needed
⛔ Fees can be on the higher end
⛔ Only trades few coins