Compare Bitcoin Exchanges
Compare the most popular Bitcoin exchanges currently available online. Even though we refer to these websites and services as “Bitcoin exchanges” most of them now support many other cryptocurrencies, including ETH, ETC, DOGE, LTC and more. You can compare each service by using our comparison tool based on the criteria you choose, or read reviews from other users by clicking the review button.
Bitcoin Trading SitesBelow you can compare all major Bitcoin exchanges and read reviews from real users. Whether you are looking to buy Bitcoin with USD or just want to start trading cryptocurrencies, check out the websites below.
|BTC, ETH, ETC, BCH/BCC, LTC, STRAT, ANS, NXT, DGB, XRP, XEM, WAVES, SC, LBC, BTS, GBYTE, VRM, OMG, ZEC & More||❌|
|BTC, ETH, ETC||✅|
|BTC, BCH, BCC, ETH, ETC, IOTA, LTC, OMG, EOS, DASH, ZEC, XRP, XMR, SAN, BCU & More||✅|
|BTC, USD, ETH||✅|
|BTC, ETH, ICN, DAO, DOGE, XRP, ZEC, XLM, LTC, REP, DASH, ETC & More||✅|
Bittrex Exchange Overview
Bittrex is one of the first major online Bitcoin exchanges to open. They launched in 2014 and are based in the Seattle, Washington USA. Their user-friendly platform enables you to trade a wide range of cryptocurrencies in BTC, ETH and USDT markets.
Today they have one of the most expansive cryptocurrency offerings available anywhere, with more than 300 different currencies to trade online 24/7.
Coinbase Exchange Overview
Coinbase was one of the first USD to BTC exchanges and has stood the test of time. They offer Bitcoin and Ethereum purchases to residents of the United States and over 30 other countries using bank transfer, debit/credit cards and other traditional payment methods.
Coinbase also allows users to quickly and easily sell Bitcoin and Ethereum. They do require identity (KYC) verification when you open an account, including SSN and other personal information. They are located in San Francisco, California and have raised over $100 million in venture capital funding to date.
Bitfinex Exchange Overview
Bitfinex is another major online Bitcoin and cryptocurrency exchange, offering hundreds of digital currencies. Their platform is not as user friendly as Bittrex, but still easy enough to use for beginners.
They provide a “crypto-only” platform that does not deal with bank transfers or debit/credit cards in USD, EUR or other fiat currencies. Bitfinex is located in Hong Kong, China and is fully licensed. Though they are located in China, many of their users are residents of the United States.
LocalBitcoins Exchange Overview
LocalBitcoins is by far the most popular peer-to-peer (P2P) Bitcoin exchange. On their platform, users can buy and sell Bitcoin with many traditional payment methods.
The only downside to their service is that the risk of fraud is a little bit higher than dealing with a regulated exchange, since users perform trades with one another instead of a licensed company. There are, however, a number of security measures users can take to ensure safe and fast transactions.
Gemini Exchange Overview
Gemini is an online Bitcoin exchange that was founded in 2015. They are a fully licensed company located in the United States and tailor their platform towards institutional investors. It is currently the only FDIC insured, fully licensed Bitcoin exchange for these types of cryptocurrency traders.
Gemini offers markets in BTC/USD, ETH/BTC and BTC/ETH. They have made several statements that they would like to add more cryptocurrencies in the future, but it is unclear which currencies and at what time they will be added. They have a secure platform, using 2FA and the latest technological security features.
What is a Bitcoin Exchange
A Bitcoin exchange (also known as a cryptocurrency exchange or alt-coin exchange) is a website, service or application that let’s you trade your Bitcoins for other cryptocurrencies or fiat currencies and vice-versa. Some exchanges are owned, operated and funded by a company while others offer a peer-to-peer (P2P) service.
If you want to start trading cryptocurrencies, you will usually start off with Bitcoin. That means you will first need to acquire some using Fiat currency, such as the US Dollar. The most popular exchange to do this is on Coinbase.com. Once you have your Bitcoins, you will want to find an exchange that has the cryptocurrency you want to trade. Then, you will need to simply set up an account with them and fund it with Bitcoin.
Are Bitcoin Exchanges Anonymous
Some Bitcoin exchanges will require some form of KYC verification. Most of the time, this is only on exchanges that deal with some form of fiat currency such as USD, EUR, CNY and others. Exchanges that only deal in virtual currency and cryptocurrency are “anonymous” in the sense that they do not require you to fill out any personal information to use their services.
Types of Bitcoin Exchanges
There are two main types of Bitcoin exchanges – Peer2Peer (P2P) and normal exchanges. A Peer to Peer (P2P) Bitcoin exchange is one where users trade Bitcoins for other cryptocurrencies or fiat currencies directly with other users on the exchange.
The most popular example of a Peer to Peer (P2P) exchange is LocalBitcoins.com. To avoid traders from running away with the Bitcoins of other users, these services will usually have an escrow. The only downside to using a P2P exchange is that there is a higher risk of fraudulent trading for some payment methods. There are, however, a number of extra security measures members can take to avoid getting involved in some type of scam.
A “normal” Bitcoin exchange is one where users can buy Bitcoin with fiat currency, or trade Bitcoin for other cryptocurrencies directly from the company who operates website. The most popular examples of this are CoinBase, Bittrex and Bitfinex. Some of these exchanges (like CoinBase) specialize in fiat to Bitcoin conversion while others do not deal in fiat currencies at all.
P2P Exchanges vs. Bitcoin Exchanges
As we just mentioned, P2P exchanges enable users to trade directly with other users on the website/service, which in some circumstances can be risky. Depending on what type of payment you are sending/receiving, the risk of fraud can be much higher than at a trusted exchange. They may also require you to ask for (selling BTC) or submit your ID (buying BTC) and other personal info to strangers.
Normal Bitcoin exchanges like CoinBase may also require your ID, SSN and other information, but it is held by a large company instead of a random stranger. P2P Bitcoin exchanges will usually have a much wider selection of payment options including everything from Direct Cash Deposit to PayPal, Credit Card or Check.
Buying Bitcoin at an Exchange
Only a few Bitcoin exchanges currently deal with USD, EUR and other fiat currencies. The limited selection is due to the tight government regulations regarding Bitcoin in many countries around the world today. If you are buying Bitcoin on an exchange that deals with fiat to Bitcoin conversion (like CoinBase) make sure they are properly licensed in their respective country. You will also want to check to make sure you follow the proper laws and regulations of the country you reside.
Selling Bitcoin at an Exchange
Just as you can buy bitcoin with your debit card or bank account, you can also sell BTC at some approved exchanges. The largest and most popular exchange to do so is at Coinbase, which allows its users to sell Bitcoin and Ethereum for USD. Another popular exchange for selling Bitcoin for USD is LocalBitcoins. As mentioned above, however, LocalBitcoins is a P2P Bitcoin exchange which means you can only sell your BTC to other members.
One important note to keep in mind is that P2P exchanges like LocalBitcoins are not instant. You will have to input a trade and wait for another member to accept the trade.
Trading Bitcoin for Other CryptoCurrencies
Many Bitcoin exchanges that do not allow you to buy Bitcoin with fiat currency will allow you to trade your BTC for other cryptocurrencies. You can think of these types of sites as being similar to eTrade or other online stock services. Instead of buying a stock with USD, you are buying cryptocurrencies with BTC.
What CryptoCurrencies Can be Traded
Most Bitcoin to cryptocurrency exchange services will have anywhere from 1 to 100+ different cryptocurrencies available. Some of the oldest, most established cryptocurrencies currently include: Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Dogecoin (DOGE), Litecoin (LTC), Monero (XMR), Peercoin (PPC), Ripple (XRP) and Zcash (ZEC). There are new cryptocurrencies popping up every day and you should make sure you do your due diligence before purchasing any new currency.