Top 4 Cryptocurrency Exchange Platforms

The first step to take when considering the purchase of your first cryptocurrency is deciding which exchange platform is right for you. However, there are so many platforms for the exchange of digital currency that you may be unsure of where to even start. Here is a list of the top four cryptocurrency exchanges that you should choose from.

1. Coinbase

In operation since 2012 thanks to its founders Fred Ehsram and Brian Armstrong, Coinbase has a long, reliable history backing it up. Coinbase is based in the US and through the financial support of banks and VC firms, it was able to legitimize Bitcoin transactions and exchanges in America.

The most prestigious firms that decided to make an investment in Coinbase include The Bank of Tokyo, The New York Stock Exchange, and Andressen Horrowitz. Coinbase has a number of payment methods currently being employed on its exchange platform. These include credit card, debit card, and wire transfer.

Through their cryptocurrency exchange called GDAX, you have the option to buy Litecoin, Bitcoin, or Ether on Coinbase. The daily volume of bitcoin that is dealt with by coinbase is $40 million. Its headquarters is located in San Francisco California.

2. Bitstamp

Bitstamp, founded in 2011, deals with the third highest volume of cryptocurrency exchanges. If you are an investor seeking an exchange platform that has plenty of liquidity, Bitstamp is for you. If you are looking to buy digital currency, it is possible to purchase either bitcoin or ripple on this platform. The best part of Bitstamp is its very user-friendly interface. The platform clearly had its users in mind when creating something so straight forward with such a high level of usability.

The one downfall of Bitstamp is the fact that it was hacked in 2015. However, since that time, they have doubled down on security and taken all necessary safety measures. The Bitstamp hack must be taken into account before investing, though. It is advised that if you do use this exchange platform, do not leave your coins on Bitstamp on a long-term basis. If you are looking to do mostly long-term investing, Bitstamp might not be the right platform for you.

3. Kraken

Kraken is a European exchange platform, founded by San Francisco native Jesse Powell, with the highest volume of the Bitcoin-Euro pairing. In other words, if your residence is within the European Union, Kraken is the right exchange platform for you.

What’s special about Kraken is the large array of possible fiat currencies you can credit your account with. Not only are you able to use American dollars (USD), and euros (EUR), but you are able to credit your account with Canadian dollars (CAD) and Japanese yen (JPY) as well. You are also able to trade more that 10 different types of digital currency. Among these are the more well-known Bitcoin, Dash, Ethereum, and Zcash.

4. Poloniex

Poloniex is an exchange platform meant purely for cryptocurrency. That’s right, with this exchange, there are no fiat currencies allowed. In order to trade on this platform, you will first have to transfer bitcoins into your Poloniex account.

This platform actually has the largest volume of bitcoin exchanged within this list of exchange platforms. The most extensive array of digital currency is also available for purchase, reaching over 60 different types. If you would like to find a token that is less popular or in demand, this is where you are bound to discover it.