I’m not a fan of bests, or worsts, because I’ve come to realise that most things in this life are subjective; we all have our own opinions. Where one person swears by coca-cola, the next will tell them it’s rubbish and that Pepsi rules the roost. If we’re talking about the best bitcoin exchange then there are a few that I regularly use, and enjoy using. I’ve been in this domain for a while so I’m aware of quite a few bitcoin exchanges. Let’s start off with my favourite, and what I’d call the top bitcoin exchange.
Bittrex, for me, is by far the best bitcoin exchange. It’s super user friendly and aesthetically pleasing too. I started with Bittrex in the days where the top coin trade volumes were around 100 Btc and that volume would deem it a very well traded coin. Now I’ve seen daily trade volumes of over ten thousand bitcoin and well over. That’s essentially millions and million of dollars flowing through that exchange every day. Bittrex has grown in enormity, and is by far the most used, well liked exchange out there. The only problem with Bittrex right now is that it’s become so popular that they have had to refuse new user signups for the moment. I guess until they update their servers. It can also be slow and buggy because of the daily trade volumes and processes per second their databases are required to take. It’s a good, well rounded exchange – but make sure you set up two-factor authentication. The search for new user accounts are high, and you could find your account stolen before you know it.
I’m not a huge user of Poloniex but this is another exchange with a large amount of volume going through it. You need a high trade volume to be listed on this exchange for sure. The only reason I don’t use Poloniex as much is because there are far fewer choices of coin to choose from. Whereas on Bittrex there are several hundred you can take your pick from, or learn more about. Alas, the fees for transferring Bitcoin out of Bittrex are high, but on Poloniex they are not. So if you have a coin that’s listed on Poloniex that you enjoy trading then that’s something to look into. I use this exchange from time to time when I’m trading Steem or Steem Dollars. Not the best bitcoin exchange out there, but one of the better ones.
Poloniex also has a few other features to it that I haven’t tried yet but I’m aware they are really well liked. For example you can lend out your Bitcoin for traders to use at a rate you want. If I had a good amount of Bitcoin behind me I’d probably go right into that. I know the lending platform is safe because people that borrow need to have enough funds in their accounts to cover any losses — so there won’t be any chancers trying to run away with your coins.
Another exchange out there that had to put a halt to new user registrations because of exponential growth. They are still allowing people in, though. I managed to secure myself a new account not that long ago. I think they allow so many new users per day. I like Binance. It’s diverse, it’s quick, it does what it says on the tin. It’s also multi-national as far as I can tell. They have people working from all over on Binance, whereas the other exchanges like Bittrex and Poloniex are situated in America, or so I think that’s the case — and sometimes American law can be quite harsh; if you’re like me and have been a member of these exchanges then you’ll know that recently we have all had to submit our documents to use them further at the rate that we do. Financial verification and such.
Binance has their own coin unlike other exchanges which is a great incentive to register there. By owning their coin you can watch it grow in value as they buyback and burn their coins every year, or, you can use them as a tool for trading. By owning the BNB coin there are vast reductions in trading fees.
Coinexchange is one of the smaller exchanges with lower volume. I enjoy using this exchange because of the vast amount of coins it holds. The smaller exchanges hold the smaller projects and you can usually find a good few diamonds in the rough here. I found BtcDraft on Yobit.net, an exchange which won’t make the list here because there are far too many coins that don’t make the grade. They start and then get dumped to the lowest denominator. BtcDraft is now on coinexchange, as with many other diamonds out there. For example I really love the concept of DV7 coin but the price is so low and the staking is so high that it’s probably not worth it yet. I do enjoy the lower grade exchanges because they are full of coins that haven’t made the jump into fame yet. Everyone needs to start somewhere, right? Lots of coins on here, research what they’re up to – you never know, you may surprise yourself.
Southxchange I’m giving a mention purely because I see a lot of projects that are in the beginning stages of their development (that I like) on here. It’s where I found mannacoin, and boy is that coin at a steal right now. Not much I can say about this exchange is that it’s diverse and honourable. I don’t see much volume going through this exchange but again, there are a good few diamonds to be found here if you polish enough rock!
That’s it for my best bitcoin exchange top picks
There’s a few I haven’t mentioned and that’s mainly because I either don’t use them or really don’t like them. I’d suggest you have a look around, network with people and see what’s out there.