Are you looking to get in on the Bitcoin craze for the first time after hearing that Bitcoin is on the upswing again? Are you already trading Bitcoin and looking to move to a new Bitcoin exchange? In either case, you have a wealth of options available to you. And in this post, we’ll help you find them.
Let’s take a look at some Bitcoin exchanges around the world. But first, for those who might be new to Bitcoin…
What are Bitcoin Exchanges?
Bitcoin is a cryptocurrency. To get Bitcoin, you’ll trade another currency for it. That’s most likely a fiat currency (the money issued and backed by your government, such as USD). But you need a place to do this.
That’s where Bitcoin exchanges come in. These are companies that facilitate the trading of another type of currency for Bitcoin.
When you choose one of these platforms, you’ll open your own account there. Then you’ll transfer money in, similar to putting money in a new bank account.
Once you have money in your account, you can then use it to buy Bitcoin. It also works the other way around. By selling Bitcoin, you’re turning it back into your original currency, which you can then withdraw back to your bank account.
You can also exchange your Bitcoin to other cryptocurrencies (and back again).
Your chosen exchange will let you manage an account, buy or sell Bitcoin, and keep an eye on the market trends as the price of Bitcoin regularly fluctuates.
Now, let’s get to a list of some of the Bitcoin exchanges you might opt to use in the United States, the EU, and Asia.
Also Read: What are Bitcoin Whales?
Bitcoin Exchanges in the US
Here are some popular US-based Bitcoin exchanges to get you started.*
Crypto Exchanges in the EU
If you’re based in Europe, these Bitcoin trading platforms might be right for you.*
- Bitkonan
- Bitstamp
- CEX.IO
- CoinCorner (formerly Coinfloor)
- Coinsbank
- EXMO
- HitBTC
- Paymium
- Zonda (formerly BitBay)
Exchanges in Asia
Finally, here are some Bitcoin exchanges based throughout Asia.*
- Binance
- BitFinex
- Bitflyer
- Bithumb
- BTCC
- Coincheck
- CoinDCX
- Coinone
- Huobi
- Korbit
- KuCoin
- Liquid (formerly QUOINE)
- OKCoin
Things to Consider When Choosing a Bitcoin Exchange
How do you know which Bitcoin exchange is right for you? Here are some of the things you should consider before creating an account with one:
- Which country is the platform based in? You’ll likely want to find one based in your country. If not, be aware that different laws might impact exchanges in other countries.
- What fiat currencies can be traded for Bitcoin on the exchange? (This is especially important if you’re working with an exchange not located in your country.)
- What kind of fees does the exchange platform charge for your transactions?
- Will the exchange let you purchase Bitcoin in the way you’d like to – bank transfers, credit cards, PayPal, etc.?
- How active is the exchange? The more active it is, the more likely it is you’ll be able to convert your Bitcoin back to cash quickly if you ever want to.
- Has the trading platform had any security problems in the past? Did they do anything else that damaged their reputation in some way? While you might not immediately let past problems rule out an exchange, exercise due diligence to make sure problems were resolved before trusting them with your money.
If you’re already trading Bitcoin, what’s your favorite exchange, and why? Which ones would you recommend to someone new to Bitcoin? Tell us in the comments below!
* All lists are in simple alphabetical order.