Bitcoin is a creative payment network and a new kind of money. Peer-to-peer technology is used by Bitcoin to run. There is no central authority or banks. Doing transactions and the issuing of bitcoins is supported collectively by the network exclusively. Bitcoin is open-source. The design of Bitcoin is public; nobody possesses or regulates Bitcoin, and anyone can take part. Through most of its unique properties, Bitcoin allows fascinating uses that could not be covered by any previous payment system. If you’re going to start with Bitcoin, there are some essential things you should know. Bitcoin allows you to exchange money and transact in a separate way than you usually do. Due to these reasons, you must take time to gather information about various aspects of Bitcoin before using Bitcoin for any serious transaction. Bitcoin should be handled with the same care as your regular wallet, and they need even more responsibility in some cases. The main points you have to keep at the back of your mind every time you do a transaction are:
- Bitcoin price is volatile
- Bitcoin payments are irreversible
- Bitcoin is not anonymous
- Unconfirmed transactions aren’t secure
- Bitcoin is still experimental
With those being said now we will be focussing on the top platforms where you can buy or sell Bitcoins.
Binance: Binance is a swiftly growing exchange that finished its ICO a few months back. It is based in China, but you can access it from almost all over the world, making it one of the most loved Bitcoin exchange platforms. To get registered in Binance, you need your email ID, and the process is straightforward and fast. Also, you will get 1 QTUM coin as a kind gesture for registering which is for the first 10,000 QTUM coins buyers.
Bittrex: The clean design and its easy usability make it a personal favorite for many. The exchange is based in the USA and offers you the opportunity to trade more than 190 cryptocurrencies at a time. The security of this platform is also very high. The registration process is straightforward, but you will need KYC and phone numbers to withdraw funds. But the good thing about Bittrex is that the process does not take long to get approved.
Poloniex: If you need the trust trading volume and supported cryptocurrencies, you are on the right track with Poloniex. The easiest of all the platforms as you can deposit with any cryptocurrency and even with tether dollars and start your trading thing right away. The best cryptocurrency exchange in this platform, in my opinion, is Altcoins.
HADAX: Hadax is an exchange launched by Huobi pro. Huobi Pro is one of the ruling global digital asset exchanges serving global traders since 2013. Named as the world’s first autonomous token listing exchange, they have introduced HT tokens to make themselves a decentralized governed platform. HADAX stands for ‘Huobi Autonomous Digital Asset Exchange.’
Kraken: One of the largest Bitcoin exchanges in the USA based in San Francisco. With the help of Kraken, you can trade other cryptocurrencies like Etherium & Zcash. Getting started is very easy and typically takes about 1-2 days for verification. The first wire transfer will take many days which can be strenuous for new users. But once the first deposit is made successfully, things will become a lot smoother.
Bitstamp: Another popular Bitcoin exchange that assures to be the first fully licensed exchange. Users can buy bitcoins using their credit or debit card on this platform. They also have a pretty interface with iOS and Android apps that help users to maintain their accounts from phones. Bitstamp is greatest for traders who are looking for an advanced exchange for buying/selling bitcoins to make a profit. Some other features of Bitstamp are Sub-accounts, SMS price alerts, High security, 8% fees for credit card purchasing.
Gemini: Gemini is a New York City-based exchange that also operates in Europe, North America, and Asia. They offer two types of accounts, individual accounts, and institutional accounts. Their price is pretty competitive, and their interface is easy for beginners’ use. If you are looking to open a corporate account for Bitcoin trading in the USA, Gemini is a great option.
OKCoin: OKCoin is another China-based Bitcoin exchange platform. They allow you to use USD for trading purpose. They also have an easy interface and great support. It will take not more than two days to verify your details and get you started. Once you get all set, you can start trading your money. The transfer fees they charge are 0% that makes it a great platform to work. They also offer a dedicated account manager.
Coinbase (GDAX): The most popular platform to exchange Bitcoins in America. They provide you with iOS and Android apps to handle the exchanges from your phone. They also have the neatest interface. Coinbase lets you buy and sell Bitcoins, but for trading purposes, you have to get GDAX for their official exchange. They also offer you a USD 10 for the first transaction of USD 100.
Here I have mentioned the top Bitcoin exchange platforms, but as I have mentioned earlier Bitcoin market is volatile, and so are the exchange platforms. That means soon some other will overtake this or some new will come in the race. But a warning for all the Bitcoin users that is fine to use these platforms for trading but to use as wallets you need to switch to something like LedgerWallet, Coinomi or Trezor.