Which are the best cryptocurrency exchanges in 2020?
Would you like to trade Bitcoin, Ethereum, Litecoin, Ripple, Stellar, EOS, or some other cryptocurrency? Where can you buy Bitcoin with a VISA card? Where can you trade the cryptocurrencies that you own? Here I will tell you about the best cryptocurrency exchanges in 2020.
Maybe you think that an exchange is all about trading. But, all the popular cryptocurrency exchanges now make it easy for you to do your first purchase. At all the cryptocurrency exchanges that I will mention in this article, you can use your credit card and purchase Bitcoin, Ethereum, and other cryptocurrencies immediately. The fees are higher for such purchases than if you would purchase after doing a bank transfer, but if you are in a hurry, it can easily be fixed.
What are the characteristics of a good cryptocurrency-exchange?
Here I will give you some of the most important characteristics of a good cryptocurrency exchange.
- A good cryptocurrency-exchange has a nice looking website, and good applications available for all platforms.
Have you ever visited a website of a cryptocurrency exchange and considered the website to look like crap? That should be an immediate warning. If you don’t like the website, skip the exchange. If it looks like a scam, it might actually be a scam. The big exchanges all have mobile applications available, making it easy for you to trade your cryptocurrencies, also when outside.
- A good cryptocurrency-exchange has quick customer support.
It is easy to do mistakes in the world of cryptocurrencies. I have sent Stellar (XLM) to Bittrex without adding a MEMO. I thought for a moment that my funds were lost, but after opening a support ticket, I got an answer, and the funds were added to my account. A good customer support will help you out in all situations. It is also important that they have support available in your language or in English.
- A good cryptocurrency exchange gives you many trading options.
If you want to trade popular cryptocurrencies such as HIVE, Stellar, EOS, Litecoin, and Ripple, then it is important to use an exchange supporting these currencies. It is also important that the exchange will support trading pairs, not only towards BTC, but also towards ETH, USD(T), and other interesting pairs.
- A good cryptocurrency exchange has a solid background (that you can trust).
It can be smart to check the background of a cryptocurrency exchange before you add funds to it. If you cannot find any information about the company running the exchange, or if the information seems to be suspicious, leave it. It is also important to check where the exchange is registered, as this can give a feeling of safety (or fear).
- A good cryptocurrency exchange has a good reputation online.
It can be wise to spend a few minutes searching for information about the cryptocurrency exchange you are interested in using. If you find many bad reviews, you might want to do some more research. You can also look for activity on social media platforms such as Twitter and Facebook, as these will give you a good feeling about the exchange.
Five solid cryptocurrency exchanges in 2020
Here I will give you the names of five cryptocurrency exchanges that I can warmly recommend in 2020. In the end of the article I will also mention a few other cryptocurrency exchanges that can be used, but that I do not really recommend.
This is the leading cryptocurrency exchange in the world today. The leader of Binance is very active on Twitter, and he is a very important figure in the cryptocurrency world today. Binance supports hundreds of trading pairs, and they are also making it easy to purchase cryptocurrencies directly with your local currency.
You can lower your trading fees on Binance by using the Binance Coin (BNB). This has been one of the best performing cryptocurrencies in the latter years, meaning that it is considered a good investment by many.
Bittrex is registered in the United States. It has a great reputation online and is considered to be one of the safest cryptocurrency exchanges in the world (especially since it is registered in the USA). Bittrex supports many trading pairs, they have a very nice design. Some people consider it a minus that certain cryptocurrencies cannot be traded by customers in the United States, but if you live somewhere else, you do not really have to think about that.
Bittrex is easy to use and they have also made it easy to purchase Bitcoin and other cryptocurrencies with your credit card immediately.
Kucoin has been around for a while, and it is getting better and better. It doesn’t have as big volume as Binance, and not as big as Bittrex, but it is still a well-respected exchange with many interesting trading pairs. The design is very nice, and it should also be mentioned that the Kucoin Shares token is a very interesting token and you can earn rewards simply for holding the KCS token at the exchange.
OceanEx is a much smaller cryptocurrency exchange than Binance, Bittrex, and Kucoin. But, it is getting more and more users and a higher volume. This is the number one exchange for everyone interesting in the Vechain token and blockchain, but OceanEx also support many other tokens. The OceanEx exchange has its own OCE token. If you purchase this token, you will be eligible for lower trading fees.
This is one of my personal favorites, probably because I am a big fan of the Vechain team, and I find this to be one of the safest projects in the cryptocurrency world. They have so many well-known partners, and it is used already in many places.
Kraken has a website that I don’t really like. But, I do like the fact that I feel safe using Kraken. It is easy to deposit money to Kraken using a bank transfer, making this one of the best and easiest places to start purchasing cryptocurrencies to yourself. Their PRO trading tool makes trading much easier, but still, the website could have needed a big refreshment.
Kraken has many Euro trading pairs, making this useful and nice for those located in Europe who want to trade using the local currency.
Exchanges that I don’t care much about
There are several other cryptocurrency exchanges in the world, and I have accounts with many of these. But, I don’t really trust them, and I would never leave my money in these exchanges for a longer amount of time. In other words, I do not trust them, and I do not like them. But, sometimes I have to use them, simply to buy and trade cryptocurrencies that I cannot find elsewhere.
This is a cryptocurrency exchange with many interesting trading pairs and you can find many tokens here that you cannot find elsewhere. BIX is the name of the token of the exchange. I have been using Bibox quite a lot, but I still don’t feel 100% safe using the exchange. However, they have a quick customer support, and the exchange is easy to use.
This is a cryptocurrency exchange with a bad reputation. The design is poor, but they have many trading pairs that you cannot find elsewhere. What I dislike about HitBTC is the very expensive withdrawal fees, and at times, they have also had deposit fees. I haven’t had trouble with HITBTC myself (yet), so I do not have any bad personal experience to share, but still, this exchange hasn’t got a good reputation.
I have used Latoken, but I don’t like it. They have also introduced a fee for those with money on the exchange without using it. This is to make users more active (you pay a monthly fee if you don’t use the exchange). As a result, I wouldn’t use this cryptocurrency exchange at all. If you don’t use it but have an account, withdraw your funds!
This was a short article introducing you to some of the best cryptocurrency exchanges online today. At the same time, I also wanted to share information about other exchanges that you should be more careful about.
No matter what you do, be aware of the fact that trading cryptocurrencies is a high-risk project. You can easily loose a lot of money, so do not trade money that is important to you.
It is more healthy to consider this a game with spare-money that you wouldn’t mind losing, but hopefully, you will make a good investment. However, that cannot be guaranteed, so I advise you to be careful.