Bitcoin Forum

Bitcoin Garden: How to Choose the Best Cryptocurrency Exchange
https://bitcoingarden.org/how-to-choose-the-best-cryptocurrency-exchange/

Since there are hundreds of exchanges, the first thing you’ll have to do is eliminate the vast majority of them. It’s not realistic to go through each and every one of them individually. So most of the startups should be eliminated by default. You want your primary exchange to be a reputable exchange with some history behind it.

If you need help selecting a few exchanges, check out this article on some of the best exchanges. It will help you make a list of top cryptocurrency exchanges based on various metrics such as total volume, regulation, reputation, etc.

After you have a list of viable exchanges, you can go over the following factors to determine which exchange is ideal for your particular situation.

If you’re completely new to cryptocurrency, this bit will prove to be quite important. There are some exchanges that do not accept fiat currency deposits. In order to use these exchanges, you first have to convert your fiat currency into cryptocurrency and then transfer the cryptocurrency to one of these exchanges.

So if you need to buy cryptocurrency, you will need to choose an exchange that accepts fiat. These exchanges will also require your personal information in order to adhere to anti-money laundering laws and other regulations imposed on companies that take in customer deposits....

There are not houndreds of exchanges. There is only binance and looong way down in the dust there are other like huobi, okex and thats it. Rest are shitexchanges or they will become one due to lack of volume or FAKE VOLUME. Yea some exchanges from top 20 has up to 90% of fake volume. Ive tried binance, huobi, okex, cryptopia, kucoin, uex, Ddex, etherdelta, BIBOX,  Lbank, Bitforex, coinbene. Only binance, huobi and okex is worth to recomend but binance is admittedly nr.1. Rest are usable only for coins not listed on binance and only to buy/sell and run out of it. There is no way to daytrade and even trading is hard due to low volume and shit and slow interface (spread close to 3% on Lbank - top 12 exchange almost on every pair).
And you know why Lbank has that big spread with that big volume (top12?). Because most of their trades are fake. They are trading with themselves.... I've noticed that too on Bitforex and UEX.

Top trading pair on Lbank today? ZEC/ETH ... yea right... The one that noone was looking at and they can throw as many fake trades as they could.

Not much of a shtty exchange dude. Look, before binance, there is bittrex. And what if those coins you'll be having is not existing in binance? What now? Of course if you wanted to sell those coins for something, then go and find another "shtty" exchange you are talking about to sell that. Well, you've ate your words congratulations. You went to an exchange that is sht and you hate shtty exchange.

But, can't deny that you're right in your last statement though. Trading with themselves. Well, it's an opening strategy to attract customers. Remember what Jack Ma did? He traded with his people to manifest the whole world that alibaba is an e-commerce business that can sell things. And so, people believed in that and so they sell.

Yea there was bittrex. But then came binance and ATE it and any other exchange in 1 YEAR. Now bittrex has 100 mil volume (1/15 of binance volume). Go there and sell 100 btc worth of any alt. Go daytrade there with 1% spread. Pay 2x more fees than on binance. For what? For worst interface?

They are "shtty" but not totaly useless. Their only purpose is to sell coins not listed on binance and run out of them. And do it wisely. They are cheating in any possible way. LBANK has 50 $ withdrawal fee for withdrawing USDT! And you can withdraw only in 8h period a day.

I only their history ( testimony ), products ( coins ) and services ( support team ). I believe best or not can't see from front, we must try to use their products/ services and see the result. Choose exchange that have responsibility to finish our transaction, if delay just wait and fees is relative.

Correction, there is no hundred of exchanges, because when we are going to the popularity and stability of exchange platform, it is still no.1

exchange for me was Bittrex, then next is Kucoin, Binance, Coinbene, cobinhood, hitbtc, livecoin, houbi, and cryptopia.

This is the problem, most exchanges are created by anonymous people, so we have a scenario where someone who is in the home of parents, creates a website ( in this case is a exchange ). pays a domain and hosting and this person does not have license, has no physical office and even with these all inconvenient he asks people to deliver very sensitive documents. This KYC should also require that the owners of the exchange have a license and have physical office. I think the best exange should be the exhange that has license and physical office and the community knows the name of the owner of the exchange. That's why, for me coinbase, binance, some Japanese and Korean exchange are the best at the moment

If you want to grow with the amount you invested you should go with the perfect crypto currency exchange:

Here are the below steps which I see about the good exchange,
1: Volume and how many coins has been added to the exchange
2: What rank it is been located in this market
3: How they are secure to use and make the transaction
4: Trading and transaction fee

Just looking up on a single thing will already include those indicators for a certain exchange.
"Entire Market Exchange rankings"

This thing will already give you the idea on what exchange you would go because those features or things you do seek on would definitely already on that top tier exchange but somehow
we cant really expect to have that perfect exchange yet no matter what they do really have flaws but atleast its much better to stick on current the best exchange.

I don't think you're looking at things the right way. You're not going to certain exchange to do some trading (unless if you are). You're actually buying certain coin, and there are often only a few exchanges where you can do that. For many small cap coins, none of them are well known, and all have crappy volume. But don't be afraid. The main rule I'd propose is to NOT keep your coins on exchanges. Nothing will happen in those few hours that you usually need to fulfill the trade. Do listen to your common sense though, check if you're not getting phished every time, use 2FA on every single exchange, check the withdraw fees before you deposit any money, and you should be good.

If you are doing day trading though, or invest some fairly large (or small) amounts, you should be looking at your specific demands and which exchanges offer them. Things vary significantly.

That is really good article. I have always sorted out my best exchanger as the one who gives me more security as well as huge trading volume. The volume is vital part while choosing an exchanger because if there is good volume then we can say that there is best chance of our trading to be successful. With reputed exchanger it also brings us the best coins out of the market and thus we can easily put forth our portfolio with a trust over it. I have seen many exchanger which has no volumes at all but good coins listed over there but that is just vain to have because no volume means no order fillings. So yeah bold point here is exchange with volume, safety and good number of coin listing is the best.

These are really important elements in selecting Exchange for long-term exchange. These experiences are built into the long-term process of joining the cryptocurrency market and not easy to get those things. I am using multiple trades on Binance and Houbi because it meets my investment needs.

For me there's no the best cryptocurrency exchanges because every exchanges has their own uniqueness to each and every country depending on where they are what are their best/convenient offer that fit in to your style. And i don't really have a favorite exchanges, because i always have a different platform for trading, buying, and selling. I just can't stick to a single one although fees varies for every exchanges that's why i choose what's best for me.

Thank you for sharing this information. This is a big help for me.

Exactly I also do the same thing in choosing cryptocurrency exchange, in this time i prefer to use Binance, many coin listed in Binance and high volume transaction is the best exchange.

Thank you for the best article provided above. I normally choose a good coin to invest, i invest in ICOs and choose the exchange based on their listing. Along with that i trade on Hitbtc, Binance and Kucoin more. I even purchased many coins on hitbtc and Binance.

There are more than 200 different crypto  exchange in the market now, and betwen them i chooce according to their customer support, daily trading volume, they listed potential coin and high security. And so far Binance, Okex and Huobi is the best choice. We not need to wait long to get answer about their exchange and when we get some problem, just ask in their telegram group official and they will be answer as soon as possible.

I normally try to pick an exchange that doesn't require verification (which can be a bit tough), has good support and transaction speeds, and is user-friendly and navigable. For this reason I've begun to gravitate towards Decentralized EXchanges (DEXes), which are decentralized and don't require verification, as the name suggests. One DEX I like to use is ForkDelta, and I also do use Binance even though some people have reported needing to verify due to 'suspicious activity' or something of the sort.

While choosing the cryptocurrency exchange, I would consider some crucial facts like the trade volume, online status, user experience & availability of pairs to trade. Other factors like fees and temporary issues can be neglected if the first set is smooth enough to trade.

the most important thing you see first the security and transaction process, choose one that has a strong security and the transaction does not take a long time.

A reliable exchange is one that will not let customers register to its service without a minimum of KYC (Know Your Customer) measures. To prevent money laundering and other illegal financial operations, an exchange should verify customers identity and be able to research their financial background by asking them to submit 2 or more pieces of identification. Due diligence should be done by the exchange not only on the customers but also on the coin they list. If an exchange lists scam coins or coins that are not known as reliable, it may be a sign that the exchange may not be truly trustable.

It is better to trade on those crypto exchanges which having a good security to assure that our funds is safe, lower transaction fees, legit exchange/s, having much volume of USD, and requires confirmation before accessing the account.

Have you guys heard of Cryptology exchange? Maybe somebody works there.

i would look for

Level of liquidity
Transaction fee structure
Exchange rate
Transparency of coins, prices and volumes data
Payment options
Geographical restrictions

Bitfinex is the Cryptocurrency Exchange that has the biggest market. You can buy directly Bitcoin with Dollars, and you can trade some other atl-coins also. There are around 15 different cryptos you can trade on Bitfinex, with the most popular as Ethereum, Litecoin, Bitcoin Cash, Monero, Neo and more !

In my opinion category of good exchanges is they has been operated more than 2 years and during this times they never get any hack or others problem, they has good reputation and that exchanges should be listed potential coin wity high trading volume. In my opinion these exchanges is Bittrex,  Poloniex and HitBTC.

Operation for more than 2 years does not really count, how you have been able to stand the test of time and improve on the exchange to me is what counts the most. Asides bittrex, I would not even dabble into poloniex or HitBTC, most especially HitBTC in particular.

If you are looking for an exchange, try checking review to see what people are saying about it and trust me, an exchange without a reliable support is not a good exchange at all, most especially when the platform is the sort of platform that has always been known to flop over the years.

There are very great exchanges coming up daily and doing great, and to me, I would rather go for the likes of bittrex or bitfinex if you even want to mention a reliable old exchange, or go for the new ones such as binance and Kucoin.

So far, I would say liquidity and transaction fee has actually been the best approach to choosing an exchange, coupled with some reputations as well anyway and the level of transparency as well in the things that are done. Transaction fee has always been one thing for a whole lot of volume traders which is the reason why they would prefer a platform where they can rather get fees cheaper without the exchange taking a chunk of what they are trading.

Trying to find a reputable exchange is still very much important for anyone who wants to make a good decision when it comes to choosing exchange.

Best crypto exchanges wll be borned in next 1-2 years and it will be an hybrid exchanges by Binance and Bitfinex.

I used some different exchange and all of them is trusted and legit exchange, regulated and  they are a few years already operating and has high trading volume. I used Poloniex and Bittrex in 2015 and they still good untill now, and i also used Binance that become the biggest exchange for now.

We do not need to look any further, Binance is definitely the best trading platform. Although its fees are quite high compared to other exchanges, it has excellent supporters in many countries and their security systems are excellent. We always need safety in investing.

Then pick a good exchanger that have a 24hours volume to buy and sell your coin every hours and minutes but now we should go to top 10 exchanges that suited for good prices.

Also my thoughts, like sometimes we're getting what we've paid for and if trading witha small fee will compromised our transaction, it will be useless then. I'm also looking for a friendly interface that doesn't need to do kyc to be able to withdraw and knowing if the response rate of their support. Like we can't be certain when we will be at mess.

To choose the best exchange, you should see the track record and facilities provided on the exchange. In calculations, I am very confident that Bittrex is one of the best exchanges. With a variety of services available and also a good level of security, Bittrex can be the first choice. Choose Bittrex and you will get a very good trading experience.

I don't think it's complicated to choose the exchange with what coins you want to trade, you can check on coinmarketcap and you can see the trading volume on each exchange, by choosing high trading volumes etc. then I think you can try trading on one of these exchanges comfortably with good service and security, the fees problem in trading I think is according to the needs of each individual.

To choose the best exchange you need to focus on this points

-Fast Withdrawl
-Support Service
-Fiat Pair Support [ Fiat pair is generally assigned to an exchange after full kyc ]
-Community

Many people think a Decentralised exchange is secure but, decentralized exchange is also hacked  for example Bancor

great tips for those who want to start trading on crypto.
it really doesn't have to be all, because there are lots of exchange sites, if you want to try all the sites, please.
but it would be better if you review it first before starting.

The essential factors are deposit/withdrawal fees, security, payment methods, limits, liquidity, availability of trading pairs, and verification process. There is one more factor for newbies – acceptance of fiats. Among the platforms that allow depositing with fiat money, CEX is probably the best one (https://cex.io/btc-eur). It has a high level of security and a user-friendly interface.

You can use arbitraging platform to see how do major exchanges differs from each other. This couLD help you also gain profit from trading from oje exchange to another. Check out Bitsgap, its the latest and free of charge platform. Its free thus year but planning to make subscription fee next year, so give it a try now. But be reminded that after trading, transfer your funds in your own wallet, open source wallet like arminy, electrum and Hodler wallet would be the best choice.