Bitcoin Forum

As cryptocurrency becomes more popular, there are exchanges popping up all over the world. It is difficult to make a choice where to safely trade your coins and tokens. Some sites have lenghty verification procedures, others have high fees to ensure their future.

Please select up to 3 exchanges that you have experience with and that you like. Feel free to make suggestions for exchanges that I haven’t listed. I’ve tried to select at least most big ones.

It would also be great if you could explain your choices in this topic.

Well, they'd have to choose a totally different altcoin exchange to the fiat-related exchange that they chose.

For fiat, I suppose a newbie could try Coinbase or Bitstamp.  They do have KYC procedures but as time goes on that's going to be more and more necessary - it might make sense to start now.  If they really value their privacy though, they could go for something P2P like LocalBitcoins.

For an altcoin exchange, there's no one reliable exchange and all of them have a lot of complaints.  But the closest thing to a reliable exchange that I've used has been Bittrex.

I personally chose Bittrex and Binance as my two first options. Pretty straight to the point and quite noob-friendly if you ask me, as I've used both since the start of my crypto journey, and never had a problem with both(besides withdrawal fees are quite high depending on which coins). Though you cant trade fiat with both exchanges, only through USDT(tethers).

My 3rd option would be Bitfinex. Why? Because it's pretty much only one of the few exchanges that accepts IOTA.

EDIT: Just found out right now. Didn't know binance already accepted iota. whoops.

I only use Bittrex and Binance for mainstream and alt coins. Simple UI's and feel they can be trusted not that they've been around for a little bit. Happy trading and always do your research and never spend more than you are willing to lose.

Most of the time I am using Bittrex to buy and sell my altcoins, but there are some coins I wanted to buy and they didn't have any, for that I used Binance. Amd for the low market cap coins that could increase in price for 100x I use Cryptopia, they have tons of these hidden gems.

These are the 3 exchanges that I trust the most although I don't keep any of my coins in them.

Among the ones you posted in your poll, I really prefer etherdelta because it is decentralized. Yet it is not so user-friiendly and easy to use for newbies...

I use Binance and Bittrex.

But I would suggest Poloniex and Binance for beginners. Their tools are easy to understand.

I have been using Polo for over a year now , but i usually just send money there , exchange and take it back out .
So i am not a daily user .
I heard that polo is really strict on verification by now .

How tough is it with verification on Bittrex ?
or , better asked . in terms of not wanting to verify anything , what exchange is best ?

I am using hitbtc for a long time also use ed and polo sometimes if hitbtc is on maintrnace or alts I want to trade is not listed there. I suggest hitbtc because it is the most ui friendly and don't have lots of limits like minimum trade balance or whatsoever but if looking for cheap transaction fee the go on polo just be patient on slow transaction. I wont recommend yobit, its somehow messy and have listed lots of shitcoins newbie could easily get confused on coins with same name.

you missed a best trading site. Etherdelta.com is one of the most usable exchange platform. I like the delta platform for trading.

 Bittrex - not the choice, since verification is disabled
 EtherDelta - is real hell, especially when ethereum network is full
 YoBit - slow & always maintenance for cheap tokenss
 Cryptopia - CRYtopia, freaking bots shuffle orders like total mess

 Poloniex -  my personal choice among others listed

For new traders I have a clear vote: Cryptopia, because:
1. Many cryptocurrencies are listed.
2. A chat is implemented (trollbox).
3. A forum with many useful topics is implemented.
4. An info site about each coin is implemented.
5. An arbitrage page is implemented,  where prices of coins can be compared.
6. Deposits and withdrawals work proper.
7. Support is quick and fine.
You only should not withdraw Bitcoin there, because fees are very expensive.

Nobody uses Coinsmarket?

I've added a few exchanges you've guys mentioned. Thank you for voting!

For me it's

1) Binance
2) Bitfinex
3) Bittrex

These are the ones that i actually have used and the others i honestly do not have any experience with. Yobit/cryptopia/etc. should be out of the question. Their spreads are high and support is unresponsive as hell. For a newbie that's the stuff of nightmares.

Bittrex has issues as well, but as long as you get verified before you deposit anything you should be okay.

Bitfinex after hte hack actually has stepped up their game and made it super friendly for new traders, but you do need lots of money to even enter with their small deposit and withdrawal limits.

Surprised that you didn't include virwox in there. And also localbitcoins and paxful.

If we're just looking at how good an exchange is for newcomers then my list would be localbitcoins, virwox, paxful, and then coinbase. All of them do not have good fees, but a new trader or new bitcoin user probably does not trade much anyways and is in it for the long term. All he needs is a convenient, guaranteed transaction and i feel like LBC offers that every single time. Coinbase is convenient as well, albeit being overall a bad exchange.

Please consider adding them to the list and i'd be looking forward to seeing the results.

Thanks, I've added those to the list.

For inexperienced traders who are dealing with cryptocurrency for the first time, I usually recommend Bitstamp or GDAX. They are highly reputable and licensed, so I feel safe recommending them to newbies, and their UI is good.

My logic is, if they want to venture off into the world of unlicensed altcoin exchanges, that should be a decision they make for themselves--hopefully with some experience and basic knowledge under their belt first. I think there are real regulatory worries for Bitfinex, Poloniex and Bittrex, for example. I've also heard many horror stories about newbies sending cryptocurrency to the wrong address type (e.g. Tether to a BTC address), so I hate the idea of newbies rushing into trading on exchanges that list 100+ coins.

Hello, I am new to Bitcoins.  I signed up with Metamask, But now sure if that was a good thing to do.  Things i am curious about. Is Bitcoin accounts don't want  cash. They would rather have you deposit Coins.
My problem is that i dont have coins.  

Is this trading site or exchange dude. No one will look these kind of unpopular and cheap exchange buddy, if you having fine attention on trading you have to invest on multiple altcoins in bitrex site. As coins value fluctuates you will find the better trading experience according to the coin you have chosen on it.

If you want use the bitcoin and cash directly best option is localbitcoins.com. You have to maintain the some amount bitcoin in your wallet to open a trade. As price changes if you fix the perfect value in your trade you will get the decent profit everyday.

For inexperienced traders who are dealing with cryptocurrency for the first time, I usually recommend Bitstamp or GDAX. They are highly reputable and licensed, so I feel safe recommending them to newbies, and their UI is good.

I see that you recommend Bitstamp and GDAX. Since i am new to Cryptocurrency, I do not own Bitcoins.  Many of the Exchanges require deposit of Bitcoins. So you can trade or buy Cryptocurrency . Also many do not want investors from the United States depositing Cash. So will i be able to use these Exchanges. Thank You.     

I have same reasons with him, have used Bittrex for my first time got into trading, and lately, since bittrex get so many problems, just use binance and it works so well.
But mostly, I use local exchange in my country to trade bitcoin and altcoins, ripple gets so many attentions obviously.
Local exchange in my country is a better exchange compare to most global exchange as it provides a way to deposit and withdraw fiat currency through banks transfer, so easy to do that. Well, people in another country may have same reason with me, such as people in South Korea use BitHumb or people in Japan use bitFlyer.

That's why we should seek first for local exchanges in our country because it would really be a convenient thing to buy bitcoin or any other alts which we wont able to experience compared on some global exchanges.
Binance would really be a good choice as of now because I wont suggest those traditional and reputable exchange because for now they are experiencing some problems which would really cause some hassle.