Buying Bitcoin and other cryptocurrencies is becoming easier than ever. We have more options to pick from now than ever before with all the online websites and apps that facilitates the trade of cryptos.
So out of all the hundreds of cryptocurrency exchanges do we pick the best one to use? Which one can we trust? And is there any real differences between them?
To help beginners and more experienced cryptocurrency buyers and traders out there we wanted to share this article. Where we have listed our favourite cryptocurrency exchanges to use in 2020!
If you don’t know what a cryptocurrency exchange is, and why you should use it then we will explain that briefly here.
When you want to buy cryptocurrencies, such as Bitcoin, Ethereum, Ripple, etc then most people today use what is called cryptocurrency exchanges.
These are basically online marketplaces where buyers and sellers meet up to trade cryptocurrencies with each other.
Let’s say you had some BTC (Bitcoin) and you wanted some Ethereum (ETH). Then you would need to trade those BTCs for some ETHs. And these crypto exchanges facilitates that trade between you and the other person.
Simple as that. So you would need to create an account with those exchanges, deposit your BTC and then use the site’s trading desk to make that BTCà ETH trade.
Our 3 favourite cryptocurrency exchanges to use in 2020
Here is the top three exchanges that we would recommend to people who want to buy cryptocurrencies to use in 2020. There are many more exchanges out there. But these three are very popular amongst traders and have a lot of good features that makes trading (buying and selling) crypto very easy and safe.
Binance is one of the most popular cryptocurrency exchanges in the world. How do we know that? Well because it is one of the most used exchanges by counting the number of users and based on the trading volume.
The trading volume means how many available buyers and sellers there are. The more traders and open trades there are, the easier it will be for you to find a seller and a buyer.
Binance has a lot useful features, such as staking, lending, the SAFU fund, margin trading, etc.
And it is also fairly easy to use, both for a beginner and expert.
And then it has probably one of the best selection of available cryptocurrencies out of all of them.
So for us Binance deserves to be on our top list of best exchanges to use in 2020!
2 ) Kraken
The second choice on our list is Kraken. Now this is one of the oldest Bitcoin and cryptocurrency exchanges in the world today. They have been around for a while and grown in popularity over the years.
It is also based in the U.S and available for U.S customers. Which is handy as Binance is currently not available for Americans, they have to use Binance US. Which doesn’t have as good trading volume.
So if you are looking for a good alternative to Binance we think you should check out Kraken!
3 ) Bittrex
And number three on our list is Bittrex. It has been around for a while now and it is often well-received and trusted by its users.
It doesn’t have the same trading volume and features of Binance. But it comes with a very good selection of cryptocurrencies available. So, it is similar to Binance there (learn more about the difference). But it lacks the liquidity and trading volume of Binance.
Otherwise we like Bittrex because you can deposit and withdraw fiat currencies. Meaning you can send funds from your bank to Bittrex and buy cryptocurrencies directly from the site. Similar when you want to sell your cryptos and get some fiat currencies (USD, EUR) then you can do that from Bittrex also.
This makes it much easier if you want to use Bittrex as your main cryptocurrency exchange to use.
So which of these exchanges should you pick?
We think that depends on the cryptocurrency you want to buy. If you want to buy Bitcoin then you can use either of them. Then it doesn’t really matter. You can then compare prices using Coinmarketcap or Go CryptoMarket to find the best prices for BTC.
But if you want to buy a more obscure altcoin then you would need to find which cryptocurrency exchanges that trades it.
So, find out which exchanges trades that cryptocurrency and then you make your decision based on that.
But you should always check what trading volume the exchanges have. The higher the better. Then it will be easier to find sellers and buyers.