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Top Bitcoin exchanges in 2020

by Nala Samir
2 years ago
in Business
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Top Bitcoin exchanges in 2020
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Cryptocurrencies are increasing in popularity, with many holding their value well beyond initial expectations and the traditional curve of cash currency. With more people wanting to take advantage of the digital offering, there are several places online where safe, secure transactions can be completed. While there is still some volatility in the cryptocurrency market and a lot of government regulation still to overcomes, there are high hopes for the future performance of Bitcoin.

Understanding a Cryptocurrency Exchange

Buying, selling, and trading in cryptocurrencies don’t occur like a transaction on Wall Street. Exchanges can be made from fiat to crypto or crypto to crypto. There is still a concern with the safety and value of transactions, and the top exchanges where these transactions occur generally offer the same rates, securities, and ease of use. There are also around 20 common currencies of this nature. When you are wanting to invest your money into cryptocurrency, there are several things to look for in the exchange. There could be geographical restrictions, the validity of the exchange, transaction fees, and security concerns. Since these waters are difficult to navigate for a startup, here you list of the top Bitcoin exchanges that will be used in 2020.

Coinbase Pro

Founded in 2012, this is one of the earliest cryptocurrency exchanges. It currently has a valuation of around one billion dollars.  This particular platform is insured by Andreessen Horowitz and the New York Stock Exchange. It offers competitive fees, several deposit options, and advanced trading features. The platform also makes it easy to withdraw or deposit funds. Though fully regulated in the United States, the platform is not well-suited for beginners.

Binance

The world’s largest cryptocurrency exchange is currently managed by Changpeng Zhao. Binance has it own unique coin called Binancecoin, and for users who many a crypto-to-crypto exchange, a discount is offered on the company coin. Binance operates like an ecosystem would, with its own exchange, wallet, charity info, and more. Since it is the largest exchange, it supports more than 130 tradeable cryptocurrencies. Ranked as the best place to by digital currency as well, it is no surprise that their mobile app is also widely praised. The site also has one of the lower transaction fees in the business, though you can exchange with fiat, short sell, or margin trade.

BitMix

A premier Bitcoin exchange platform, this company is based out of Hong Kong and favors Bitcoin. Since Bitcoin is the largest cryptocurrency when looking at market capitalization, the rate of exchange at BitMex is impressive. It is reported that over two billion in U.S. dollars may be bought, sold, or traded in a 24-hour period. BitMex also supports LiteCoin, Ripple, Cardano, Ethereum, and EOS. A primary drawback of BitMex is that is will not accept any payments that originate in the United States. However, you can margin trade and short sell, as well as buy leveraged contracts through BitMex. For those who are looking to buy Bitcoin, it is estimated that the value will increase in the next few years, with some cryptocurrencies traders claiming it will swell past $200,000 by the end of the decade.

Kraken

In 2011, Jesse Powell founded Kraken. It is now one of the largest bitcoin exchanged because of the fiat currency section which included the Pound, Yen, Euro, and U.S. dollars. Kraken has also been the first partnered exchange with a cryptocurrency bank, supporting over 17 different cryptocurrencies at maker and taker fees that range from 0% to 0.26%. The Bloomberg terminal is supplied with its Bitcoin pricing through Kraken. The main pros of this exchange include The ability to support various cryptocurrencies, its simple for seasoned traders, and it offers high liquidity. There are some complaints that processing time is slow, and there have been reports of the arbitrary closing of accounts.

NordikCoin

Some of the newcomers to the cryptocurrency scene have their roots in fintech startups, much NordikCoin. Working out of Estonia, this is a safe, easy, and secure way to gain entry into the cryptocurrency field. The team of Bitcoin technologists, lawyers, and auditors that work behind the scene ensure that each transaction is in full compliance with regulatory mandates.  Site users with OmniMatrix find that the process is simple and quick, but the results allow for Bitcoin purchases to be spent around the world with merchants that accept the cryptocurrency.

Bitstamp

In 2011, Bitstamp was founded in Slovenia, though now it has expanded to include headquarters in both New York and Luxembourg. It is able to boast of one of the lowest fee systems in the industry, imposing 0.09% in international withdraws and just 0.05% on international wire transfers. It does support several different currencies, allowing for Bitcoin, USD, EUR, Etheruem, Litecoin, and Bitcoin or Ripple cash deposits or withdrawals. This an exchange well-suited for beginners and it the verification on Bitstamp happens fairly quickly. Users do say that the mobile app needs to be updated and that the high card fees are unsettling.

KuCoin

Found in 2011 with a modern outlook but a securely backed platform, the Hong Kong-based KuCoin distributes at least 50% of the overall revue to holders that have purchases KuCoin Shares.  For every 1,000 shares they hold, the holder receives a 1% discount. In addition to this perk, the fees for this platform are much lower than comparative services around the world.  One primary negative of the platform is that no fiat currencies are accepted.

Cryptocurrencies are going to continue to upset the financial system, and more people will start to take advantage of the online exchanges for their own share of the market. These top platforms are some of the most secure places online to make your cryptocurrency transactions.

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