The Best Bitcoin Exchanges for Traders 2020
Contents:
- List of the best Exchanges
- Is Bitcoin secure as a payment method?
- Fees
- Deposits
- advantages and disadvantages
- Payouts with Bitcoin
- General information about Bitcoin Exchanges
- Conclusion
There is meanwhile as well as no more humans, who do not know the Bitcoin. The cryptocurrency developed in the last years from an insider tip to a ready to strike alternative and forms today the basis for many interesting business models. The Bitcoin Exchanges for example concern themselves with the trade and exchange of the Bitcoins and real Fiat currencies. Due to the enormous safety precautions the offers can be called thereby nearly all safe.
We were particularly convinced by the provider Binance. Further below you’ll find out why that is.
Apart from the enormous security, other points of criticism naturally play an important role in the evaluation of the Bitcoin Exchanges. The competition on the market is meanwhile enormously large and so each Portfolio should be taken individually under the magnifying glass. This is exactly what we have done, so that we were able to compile a list of trustworthy and strong Bitcoin Exchanges in the following.
List of the best Exchange Platforms for Bitcoin and Other Cryptocurrencies
| Exchange | Payment Methods | Coins | Special features | |
|---|---|---|---|---|
| Binance | Cryptocurrencies Credit Card |
BTC and 80+ altcoins | Big variety of cryptocurrency services, Low Fees up to 1:125 leverage |
Visit Website |
| Kraken | Cryptocurrencies Bank transfer |
BTC and 30+ altcoins | Most secure Crypto trading platform, Low Fees. up to 1:5 leverage |
Visit Website |
| Bitfinex | Cryptocurrencies Credit Card Wire transfer |
BTC and 160+ altcoins | Old player with excellent trading platform, up to 1:100 leverage |
Visit Website |
| Cex.io | Cryptocurrencies Credit Card Wire transfer |
BTC, ETH | US American exchange with high liquidity no leverage |
Visit Website |
| CoinMama | Cryptocurrencies Credit Card Wire transfer |
BTC, EHT, LTC, BCH, QTUM, ADA, XRP, XTZ, EOS, ETC | Easy buy and sell platform, no leverage |
Visit Website |
| BitPanda | Cryptocurrencies Credit Card Wire transfer |
BTC and 50+ altcoins | Competitive offer, no leverage |
Visit Website |
| Coinbase | Cryptocurrencies Credit Card Wire transfer |
BTC and 15+ altcoins | Well-known brand, no leverage |
Visit Website |
On this page, however, we do not only want to take a close look at the different providers, but also at what is behind them. Generally speaking, a comparison of the providers allows you to see at a glance where it is really worth registering and which portfolio would be better avoided.
In addition, we also took a detailed look at the cryptocurrency and collected all important information. What do I have to take into account if I want to buy Bitcoin, what are the requirements for being able to trade Bitcoin and how can fraud and rip-offs be avoided?
Bitcoin Exchanges: Is Bitcoin secure as a payment method?
There is no doubt that the Bitcoin can be considered a totally secure payment method. Thus, a block chain technology is used here, which manages and stores all payment transactions in a decentralized manner. This makes the payments forgery and fraud-proof, since all flows can still be traced precisely afterwards. It is almost as if everyone would write their name on the banknotes they have held in their hands. So it can always be clearly traced where the money comes from and for whom it is intended. In addition, the Bitcoin Exchanges naturally also protect their users in other ways.
Anyone wishing to make a deposit or access their user account must “identify themselves” with their login and another security key. This two-factor authentication is considered the absolute standard and provides further protection. But that’s not all, because the well-known SSL encryption is also used for the portals.
In this context it can also be mentioned that Bitcoin payments can be made without entering private bank or credit card information. In short: Much more security is actually not possible.
Are there any fees for the traders?
Whether a provider charges fees for the processing of deposits and withdrawals is of course up to him. However, the best Bitcoin Exchanges do not charge transaction fees and thus secure additional benefits for the users. If a provider does insist on fees, these can be discovered in the checkout area or even in other areas of the website. Transparency is therefore the focus here and “nasty surprises” in the form of unforeseen fees are avoided.
Deposits: How they are processed
In principle it can be said that the payments with the Bitcoin are enormously simply accomplished and even newcomers might have no problems. In contrast to a bank transfer or credit card payment, no complicated numbers or IBANs need to be entered here. Instead, the payment runs solely via a short address. First of all, of course, you need to have your own user account with one of the Bitcoin Exchanges in Germany. Registration is extremely fast in almost all cases and can always be done without additional costs.
Then the payment section of the platform is accessed in the payment area of the platform, where the required wallet address of the provider can be found. This is important and must now in turn be entered in the own Bitcoin wallet as recipient address.
Once this has been done, the payment can be made and the amount lands on the platform’s trading account within a few moments. By the way: On some platforms it may be possible to deposit FIAT currencies in addition to the crypto currencies. In this case, the payments are made by credit card or SEPA transfer.
Overview of the advantages and disadvantages
A look at the advantages of Bitcoin payments reveals some good arguments for taking a closer look at this option. On the one hand there would be the enormous speed of the payments. All in and payments land within shortest time in the own Wallet and can be used immediately. Unnecessary waiting times of several working days or similar are eliminated.
Beyond that all payers can draw a further advantage from the enormous security of the Coins. Thanks to the block chain technology, payments are always processed in a forgery-proof manner, and transactions can also be processed without having to enter sensitive payment information. In terms of speed and security, the cryptocurrencies therefore have a considerable advantage.
Nevertheless, we do not want to hide the fact that there is at least one minor disadvantage. Before you can pay with the currency at all, you have to set up your own wallet first of course. Fortunately, this process is easy to handle, but some people might find it annoying. Those who do not want to open a Bitcoin wallet can fall back on regular trading options and trade with Binary Options Brokers, for example.
Carrying out payouts with Bitcoin
An important argument for the use is by the way also the fact that with the pertinent Wallet not only deposits, but also withdrawals can be accomplished. Of course, the cash area of the Bitcoin Exchanges must again be accessed for this, but this time the path should lead to the payout sector. Here the disbursements are then simply ordered again with the help of the wallet address and then immediately executed.
There is no waiting time, each user can immediately access his amounts. It is important to note, however, that many Bitcoin Exchanges require verification from their users, which often has to be done before the first deposit is made. A copy of an identity card, passport or other official document is required for this.
General information about Bitcoin Exchanges
The Bitcoin was released in 2009 and is known as a so-called cryptocurrency. This is a digital currency and a digital system with which payments are managed in a decentralized manner. Users are therefore not dependent on financial institutions, but can make payments without the control of banks or similar. A major advantage of the coin is that it is counterfeit-proof, because all transactions can be traced precisely at any time.
It is therefore no great surprise that the value of Bitcoin has risen rapidly in recent years and more and more areas have discovered the coin for themselves. Today, the coin is available for trading, but can also be used in casinos or by Bitcoin bookmakers. In addition, there are numerous Bitcoin lotteries and even regular online stores accept the electronic coin.
Conclusion: The selection of Bitcoin Exchanges is large
With a check of the industry it shows up rather fast that there are meanwhile numerous Bitcoin Exchanges on the market. Most of them can be called strong in the Bitcoin traden comparison, but by far not all of them. We have taken the best platforms without fraud and rip-offs under the magnifying glass and subjected them to a tough test.
So we can not only recommend a first-class selection of reliable platforms, but also point out their professionalism and reliability. The use of the offers can be described as absolutely safe, especially since the majority of the providers already have a license from a regulatory authority. In order to be recognized as the best Bitcoin Exchange platform, however, the providers must be convincing, especially in the overall package.
