My Favourite CryptoCurrency Exchanges
There are 8714 cryptocurrency exchanges at the time of writing this post (February 2018). That’s about 1 exchange for every 2 cryptocurrencies, on average!
I’ve signed up for over a dozen exchanges and actively use about 6 of them. Personally, I use different exchanges for different reasons; such as, converting fiat currency to cryptocurrency, buying an assortment of altcoins, or using technical analysis of charts to make trades. Here you will find out the strengths and weaknesses of various cryptocurrency exchanges and I’ll share my favourite exchange!
PRO TIP: Whichever exchange you decide to use, it is advised to bookmark it in your browser. Some hackers have a way of making their site look like an exchange to gather people’s login information and bookmarking the correct website is one way to try and prevent such a hack.
Coinbase
This was the first exchange that I used because it allowed me to buy instantly with my credit card.
Pros:
- Easy to use
- Convert fiat currency to cryptocurrency
- Instant purchasing of cryptocurrency is available with a credit card
- Unlimited referral bonuses for you and your friends/family
- Both you and the person you refer get $10 USD worth of Bitcoin for free!
Cons:
- While there are many ways to buy cryptocurrency, the majority of them are only available for American citizens. As a Canadian, the only option was for me to use my credit card.
Sign up for a Coinbase account here: Get $10 USD for free after you fund your account!
Coinsquare
Some might call Coinsquare the Canadian version of Coinbase and it is my exchange of choice to convert my Canadian dollars to cryptocurrency.
Pros:
- Easy to use
- Conver fiat currency to cryptocurrency
- Low fees
- Unlimited referral bonuses for you and your friends/family
- Both you and the person you refer get $20 CAD for free!
- Safe
Cons:
- Ideal for users within Canada but it is not required to be Canadian
Sign up for a Coinsquare account here: Get $20 CAD for free after you fund your account!
Kucoin
Pros:
- Carries several smaller altcoins
- One of the better platforms for advanced trading
- Has it’s own token that pays you to own it
- Referral program to spread the word and get a percentage of trading commissions
- Don’t worry; the person you refer will pay the same amount of commission regardless of anyone referring them or not
Cons:
- A newer exchange that has had a good start but it’s youth may come with bugs and kinks to work out
Click here to sign up for a Kucoin account today!
Mercatox
Pros:
- Carries some unique coins and tokens
- Low fees
- Referral program to spread the word and get a percentage of trading commissions
- Don’t worry; the person you refer will pay the same amount of commission regardless of anyone referring them or not
Cons:
- Low liquidity
Click here to sign up for a Mercatox account today!
Yobit
Pros:
- Unique altcoin options
- Referral program to spread the word and get a percentage of trading commissions
- Don’t worry; the person you refer will pay the same amount of commission regardless of anyone referring them or not
Cons:
- Some people have experienced difficulty withdrawing from their Yobit account
Click here to sign up for a Yobit account today!
CoinExchange
Pros:
- Unique altcoin options
- Referral program to spread the word and get a percentage of trading commissions
- Don’t worry; the person you refer will pay the same amount of commission regardless of anyone referring them or not
Cons:
- Known as an exchange that is popular and yet easy to list any cryptocurrency
- This means that you need to be extra careful when choosing which coin or token to buy with your hard-earned money because not all crypto is created equal
Click here to sign up for a CoinExchange account today!
My Favourite CryptoCurrency Exchange…Binance
The best crypto currency exchange is Binance. It’s where I keep the majority of my trading portfolio due to the advanced chart and technical analysis options. It is amazing how well some indicators can predict the changes in prices of cryptocurrency (though there are no guarantees).
Pros:
- Very user-friendly
- Hosts a large variety of quality coins and tokens
- It is difficult and expensive to have your coin or token listed on Binance
- This means that you can have more confidence that the crypto you are buying isn’t a scam
- Has it’s own token that you can use to reduce your trading fees as well as HODL
- My favourite part about this exchange is the chart options
- This may not apply to many but if you are a (day) trader, or if you are interested, then Binance is a great place to get familiar with the candle stick charts and the various indicators
- Comment below if you want to know more about how to strategically trade your crypto!
- This may not apply to many but if you are a (day) trader, or if you are interested, then Binance is a great place to get familiar with the candle stick charts and the various indicators
- Referral program to spread the word and get a percentage of trading commissions
- Don’t worry; the person you refer will pay the same amount of commission regardless of anyone referring them or not
- Has an app for your mobile phone
Cons:
- Not meant to convert fiat currency to cryptocurrency
Click here to sign up for a Binance account today!
Summary
- To convert your USD to crypto use Coinbase
- To convert your CAD to crypto use Coinsquare
- To trade with an assortment of altoins which are not offered on many exchanges use Kucoin, Mercatox, Yobit or CoinExchange
- To trade with higher quality cryptocurrencies, use advanced trading tools for chart analysis and minimize fees use Binance
Comment below with your favourite cryptocurrency exchange!
As always, feel free to post a comment below with your thoughts on the post or any questions you may have.
Cheers,
Justin
InvestWithCryptoCurrency.com
Invest With Cryptocurrency; Grow Money
Hey Justin,
good overview of the most important exchanges. I use coinbase as well (no-brainer 🙂 ) and blockchain(dot)info – Both offer to buy cryptos from fiat, which is pretty important, especially for “beginners”, I believe. Cobinhood also looked quite promising last time I checked.
One of the most important things I see with exchanges is that they HAVE to offer two-factor auth in my opinion! If an exchange does not have that, it’s a no-go for me in terms of security!
Cheers,
chris
Hey Chris! Yes, two-factor authentication is a great feature that should be used when possible to keep things secure. Coinbase was the fist exchange I used as it accepted credit card for an instant purchase of crypto…and I got points from my credit card! I have also heard good things about Cobinhood but haven’t checked it out yet. I haven’t heard of or tried blockchain info but I’ll check that out as well! Thanks for the comment!