Bitcoin Exchange for Big Traders

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Top Exchanges for Big Traders

Ethereum! Litecoin! Bitcoin! You name it, there are thousands of cryptocurrency investing options out there.  The virtual currency community is making waves and the largest news agencies from MSNBC to CNN can’t stop talking about it.   How can you?  Fortunes are being made. 

Wave after wave of doubt continues to hit the space, but the original believers, HODLR’s who have been in the currency since it was less than $1,000, continue to prop the currency up.  Nothing has been able to topple the technology.

Political news in China, South Kore, and the United States have sent momentary jolts through the markets.  Every time the dip is bought, and a rebound occurs.  As recently as February 20th, the Bitcoin markets were back to prices they saw at the beginning of the year.  The currency sits poised in the 10-12k range and is looking to leg up back to heights seen in Q4 of 2017.

The craze is growing, and more fortunes are being made.  To join the booming space, one needs to link up with the exchanges.  Coinbase is now the #1 application in America despite having notably poor customer services.

These currencies have been able to seize the attentions of a number of investors all over the globe.

Cryptocurrencies have provided the market with a sort of bad-ass factor.  The main love affair with them is the fact that they’re counter culture.  Over time, they have earned a reputation for being a safe haven against unpopular and even unpermitted government policies.

The idea of a decentralized utopia is forbidden by many governments.  It would be.  It threatens their sovereignty.  It provides people with a vision of a global culture where no state controls a being.  In cryptocurrency, the being controls the state leveraging digital technology. is the

Institutional investors, evangelists, critics, and swing traders all have something to say about it.  Everyone is on board.  We even saw bitcoin break into the mainstream with CBOE futures trading.  Whether you’re looking to swing trade or retire, there’s an opinion out there that supports what your ambition is.

For those still wondering if it is already too late to invest in cryptocurrencies, the answer is No! It is definitely not too late. Let’s dive into the trend of the magical world of cryptocurrencies. Let’s convert your EUR, GBP, or USD into Bitcoin or Altcoins,

The first step is finding an exchange for this very purpose. Everyone wants to know which cryptocurrency exchange is best, especially those large investors who want to bring a lot to the table.

With cryptocurrency users and investors, especially beginners, this question has become a major topic.  There have been reports and news of an exchange going bankrupt, others being breached, and even theft of cryptocurrencies by some users.

Selecting a cryptocurrency exchange that adequately meets your needs is challenging.  Here are some basic things to look for first.

Parameters to Consider when Picking a Cryptocurrency Exchange

When selecting an exchange, there are few things you would like to consider.

  • How secure or safe is the exchange’s server or website?
  • Does the exchange have high liquidity?
  • How are the exchange’s transaction fees like percentage fees, fixed fees and spread, structured?
  • Does the exchange provide transparent data of transaction, price and volume of coins?
  • Which and how many currency pairs does the exchange have for trading Bitcoin? (ie.fiat currencies or Altcoins to BTC?)
  • Does the exchange have multiple payment options? Are credit/debit card, PayPal, and so on accepted?
  • What are customers review about the exchange?
  • Is it beginner-friendly?
  • What is the overall user ratings of the exchange?

Now that you know what to look out for when choosing an exchange, you can begin analysing which one to pick.  Here are the best exchanges out there.

Best Fiat Friendly Cryptocurrency Exchanges for initial Fiat to Crypto Conversion

For beginning investors, you need to choose an exchange that allows you to get into cryptocurrencies.  Once you have a form of cryptocurrency, you can transfer it to any exchange.  You can then make crypto to crypto transactions of any of the altcoins covered by each exchange.

Coinbase

Pros:

  • #1 Exchange application in the world on iTunes and Google Play
  • Easily trade Litecoin, Bitcoin, Bitcoin Cash, and Ethereum
  • Cash options available in case of downturn
  • Deposit directly from a Credit Card/Bank Account
  • Initial limits to deposit amounts. Normally capped at $10k

Cons:

  • Initial limits to deposit amounts. Normally capped at $10k
  • Limited to only 4 Cryptocurrencies
  • Premiums charged for trades
  • High transaction fee

Founded in 2012, Coinbase allows users make recurring trades to invest in many cryptocurrencies.  It is known for being the most popular cryptocurrency exchange in the world with more downloads than any other application in 2017.

Coinbase offers the security of cash and bank account transfers.  For that reason it is relied upon as the base investment for many who enter cryptocurrency investing.  Once a transfer is made to Coinbase, it can then be transferred to other “Hot Wallets” like the one you will have when you sign up for a service like Binance. 

Once the initial transaction between two services like these is mapped by the two companies, it is easy to make residual payments.  Binance in particular logs transactions from your Coinbase wallet and will log the wallet address so you can transfer into cash out of fear if you so desire. 

Coinbase connects with multiple services that take bitcoin as a form of payment.  This has lead to some of its popularity.  We discuss more about that here in our top 50 companies that accept bitcoin article.

Coinbase exchange is regarded by most cryptocurrency fanatics to be the best.  Ethereum, Litecoin, Bitcoin, and Bitcoin cash can become the roots of your investing strategy to start.  You can then transfer each straight to Binance when you’re ready to take on Altcoins. 

Gate.io

Pros:

  • Great alternative to Coinbase
  • Allows fiat deposits.
  • Discounts Trading Fee’s
  • Highly functional mobile app
  • More digital coins available than Coinbase
  • Access to Hot Wallets

Cons:

  • Premiums charged for trades
  • High transaction fee

Gate.io is a newer exchange, but it’s quickly nipping at the heals of Coinbase and gaining marketshare for the initial deposit a customer makes from fiat to cryptocurrency.  The main advantages of a Gate.io when compared to Coinbase is the amount of alternate coins that are available. 

The interface is highly customizable.  You can save your favorite markets and track the performance of popular altcoins like EOS and XRP which aren’t available on all fiat friendly exchanges.

Early results are promising, Gate.io has quickly gained popularity among some of the largest cryptocoin investors.   Gate.io has also has a highly functional mobile app that allows you withdraw or deposit funds, or trade cryptocurrencies on the go.  They even offer a 10% discount on trading fees. Now who doesn’t love discount?

Gate.io couples well as an alternative to Coinbase.  It partners excellently with Binance which is our favourite exchange for trading altcoins.

Best Altcoin Exchanges: Cryptocurrency to Cryptocurrency Deposit

Binance:

 Pros:

  • Affordable
  • Offers a ton of Alternate cryptocurrencies and adds new coins daily
  • Low .1% exchange fee possible
  • Great charting software for day traders
  • Great customer service
  • Secure

Cons:

  • Impossible to convert to FIAT in app
  • Not always adequate demand for lower altcoin trading

Binance is one of the fastest growing exchanges because of its stellar reputation for security. A few months ago, Binance concluded its ICO.  Even though investors are usually intimidated by Chinese operations, Binance has proven to be one of the most reliable exchanges on the internet.  It is open to almost all the countries around the globe and even has applications for USA based investors on Google Play and iPhone.

Standing among the top 10 cryptocurrency exchanges in the world, Binance has grown at a torrid pace since its ICO.  The last time I counted, it had over 140 different altcoins available to invest in, including many found on this site like po.et and TRON.  

Binance DOES not offer a cash deposit option outside of China.  If you’re in the US, UK, or other territory that restricts deposits, you will need to transfer in to Binance.  This is a common practice.  Most investors couple Binance and Coinbase for best flexibility.

Binance is a centralised exchange.  It has been able to increase its business and provide a moderate discount for day traders that use the Binance coin.  These are denoted as BNB coins within the application.  They are the native currency of this exchange.

Binance also has a unique fee structure.  A 0.1% standard exchange fee is applied to each transaction.  This makes it affordable by investing standards and best for day traders who constantly find themselves buy and selling positions. 

Many other that is quite decent compared to its alternative exchanges. This fee can be reduced further if you use the traditional BNB coins to pay the trading fees.

One other unique thing about binance is that it is has aggressive schemes like mobile apps for both Android and iOS users, multi-lingual support, and Binance Angel Program, to just mention a few.

KuCoin

Pros:

  • Lot’s of AltCoins
  • Constantly Updating Listings
  • Vote for Coin Placements
  • Cool Referral Giveaways

Cons:

  • Impossible to convert to FIAT in app
  • Clunkier website that is slow
  • Not the best customer service.

If you are looking for a hassle-free and easy exchange, then KuCoin good but not as great as Binance. The exchange offers a couple of unique and popular coins like $KCS, DragonChain, and lots more. Similar to Binance and Gate.io, they also have a functional app for both iOS and Android mobile devices.

All you need to do to get started with KuCoin is to deposit any cryptocoin of your choosing and start trading. In this way it’s a lot like Binance.  A company like Coinbase or Gate.io can help

Bittrex

Pros:

  • 150 Different Cryptocurrencies available to trade including Blackcoin and Dash.
  • Fully regulated in USA
  • Comprehensive data listings for bitcoin markets
  • .25% service fee

Cons:

  • Lacks coin options
  • High limits to play. 3 BTC minimum.

 

Bittrex is proudly based in the US and boasts over 50 security expers on its staff.  The main value proposition of Bittrex is that it has to be US investment compliant.  For this reason it is their opinion that they have the best trading system around.

Being a cryptocurrency exchange based out of US, Bittrex gives you the option of trading more than 150 cryptocurrencies at a go. They are compliant with all of the current US rules and are well-regulated, so you don’t have to worry about how safe your funds are.

They are among the exchanges handling the largest BTC trading volume in the entire globe where users get to decide the rates they choose to trade in, and are charged a small service fee of 0.25%.

Basic Account with withdrawal funds of up to 3 BTC per day, and Advanced Account with withdrawal funds of up to 100 BTC per day, are the two types of account supported by Bittrex.

Conclusion

With the above exchanges, you can easily trade almost all the cryptocurrencies out there in the market. New names like YoBit, OKCoin, AskCoin and CoinExchange are becoming popular and the marketplace is changing every day.

With the overwhelming number of exchange platforms out there, you have a wide pool of options to choose from, but your choice should be based off factors such as fee structure, liquidity, trading facilities, headquarters, and so on.  Think of what’s best for you.

Remember, when you finally pick an exchange, it is not advisable to store your cryptocurrencies there. Remember to get the funds to your own personally controlled wallet as soon as possible.

Good luck out there and happy investing!