This Post is about the world’s best bitcoin exchange and how to choose the correct one.
Best Bitcoin Exchange
A bitcoin exchange is a marketplace where buyers and sellers can trade bitcoins for other currencies or for other assets. The most common type of exchange is a fiat-to-bitcoin exchange, where users can buy and sell bitcoins using fiat currencies such as dollars, euros, or yen. There are also exchanges that allow users to trade bitcoins for other assets, such as gold or silver.
This article lists the 8 Best Bitcoin exchanges worldwide on the basis of their primary purpose i.e. End-User Service.
According to the different purposes, there are four kinds of Bitcoin exchanges worldwide.
- Crypto 2 Crypto trading platforms
- Bitcoin Brokers
- P2P exchange (Peer to Peer exchange)
- Instant cryptocurrency exchange
Types of Bitcoin exchange
As I said above no two Bitcoin exchanges are alike.
They differ according to their primary purpose, features, and services offered.
I have categorized Cryptocurrency Exchange into four parts
1. Crypto 2 Crypto trading platforms
These are the more traditional type of Bitcoin exchange (cryptocurrency exchanges) “similar to the stock exchange” where you trade altcoins at an open market price.
These types of exchanges charge a tiny amount of fee for a transaction.
This type of exchange only allows you to trade cryptocurrency against another cryptocurrency with hundreds of trading pairs.
They provide a trading interface with advanced trading tools like different types of coin price movement charts, margin trading, trading options, trading futures, etc.
They usually do not accept Fiat currency to buy, sell and trade cryptocurrencies.
Best altcoin trading platform (Crypto 2 Crypto)
2. Bitcoin Brokers
Cryptocurrency Broker is kind of similar to Crypto 2 Crypto trading Exchange.
But they allow you to buy cryptocurrencies at a slightly expensive price compared to the original market price of the cryptocurrency.
They usually accept Fiat currencies like USD, Euro, AUD, and INR and allow users to trade cryptocurrencies with other cryptocurrencies and fiat currencies.
Brokers work as the third-party service which adds their premium to the original market price of the cryptocurrency.
These exchanges work like wholesalers which buy the product at wholesale price and sell at their own price tag.
They also provide a basic trading platform for Bitcoin trading
Best Bitcoin Exchange (Brokers) worldwide 2022
3. P2P exchange (Peer to Peer exchange)
This type of Bitcoin exchange act as a middleman between the buyer and the seller and let them trade at whatever price they want.
Local Bitcoins is the Best Bitcoin exchange worldwide in the P2P exchange category.
The best part of P2P Bitcoin exchange is that you can buy and sell Bitcoin using any payment method from any part of the world with your own native fiat currency.
To counter the risk associated with the P2P transaction.
P2P Bitcoin exchange uses an Escrow service that holds the Bitcoin till the confirmation of payment by both parties.
First, the buyer makes the payment and then confirms the payment execution at his/her end.
The seller releases the cryptocurrency after confirming receiving of the payment.
The exchange charge a tiny amount of escrow fee from both parties.
Exchanges also use a reputation system to categorize reliable and trustworthy sellers and buyers.
Best Bitcoin exchange (P2P) worldwide.
4. Instant cryptocurrency exchange
An instant cryptocurrency exchange allows users to buy, and sell cryptocurrency with Fiat currency and other cryptocurrencies.
You can deposit any cryptocurrency and can receive payment in another cryptocurrency in a matter of seconds or a few minutes.
They use third-party services to buy and sell cryptocurrency with Fiat currency like Changelly Instant cryptocurrency exchange uses Indacoin exchange to process their Fiat to crypto transactions.
Best Bitcoin exchange – Instant cryptocurrency
Accordingly, I have listed the Best Bitcoin Exchanges worldwide (categorically) on the basis of their primary purpose
Crypto to crypto trading platforms
Binance exchange is first on the list of Best Bitcoin Exchanges worldwide in 2022
The exchange is China-born and founded by Changpeng Zhao (CEO) in the year (2017)
Later Binance shifted to Hongkong after the Chinese communist party banned their ICO.
Their servers are hosted in South Korea and Japan.
Binance supports more than 250 altcoins and one of the first adopters of new ICO tokens.
Binance consistently ranks in the top 3 altcoin trading platforms according to daily trading volume.
Binance says that they are capable of processing 1,400,000 orders per second.
Binance uses two different trading methods. One is basic and another one is advanced.
Transactions are fast and instant. The basic trading interface is user-friendly and easy to navigate. The advanced trading interface may be a little bit tricky for newbies.
There are no depositing fees and withdrawal fee
The trading fee is currently 0.1%, regardless of the coin, but it can be halved if paid with BNB (Binance coin, an altcoin backed by the platform itself).
Binance uses the Maker-Taker fee model where the Maker is the trader who opens the trade. The taker is the user who closed the trade.
Fiat currencies are not supported by the platform as it is a pure crypto 2 crypto trading platform.
Binance without a doubt one of the best Bitcoin exchanges worldwide in 2022
Update – Binance has recently added a new service to buy altcoins with credit & debit cards via Simplex. However, Buying fee can vary from 5% to 10% on a day.
- Has gained user trust and reputation in a short span of time.
- Founded by a team of highly experienced intellectuals in the Cryptocurrency market.
- Relatively low trading fee 0.1%
- Transactions are fast and instant
- The relatively higher fee to buy bitcoin with credit & debit card directly
Bitmex is the leading Bitcoin margin trading site and one of the best Bitcoin exchanges worldwide in the crypto 2 crypto exchange industry.
Bitmex was launched by HDR Global Trading Limited in 2014, operating in Hong Kong and registered in the Republic of Seychelles.
Bitmex is an advanced trading platform with multiple trading options like trading futures, and margin trading and provides leverage up to 1:100
There are more than 100 crypto trading pairs available on the exchange.
Bitmex has very competitive fees.
There are no deposit fees or withdrawal fees.
In the case of Bitcoin withdrawal, minimal Bitcoin network fees are charged.
Security is one of the main priorities for the exchange.
To date, there have not been any security breaches and neither platform ever got hacked.
The platform interface is intuitive and easy to use but beginners will take some time to get accustomed.
As it is mainly an altcoin trading platform. Hence it offers high liquidity and user can trade with 1:300 leverage.
There is no match for Bitmex customer support in the cryptocurrency exchange industry.
Bitmex supports almost every country except the U.S.A
- Well established and undoubtedly one of the best Bitcoin exchange
- Multiple crypto trading options for crypto-traders
- Competitive fee
- Robust security
- Customer support is of the highest standard.
- One of the advanced crypto 2 crypto trading platform
- The interface is not newbie-friendly. Beginners will take time to get accustomed
Sign up now to receive a 10% trading fee discount for 6 months at Bitmex
Cryptocurrency Brokers List
Coinbase exchange is one of the established, popular, and without a doubt one of the best Bitcoin exchanges available online.
The exchange was founded by Brian Armstrong and Fred Ehrsam in 2012 and is based in San Francisco, California.
Coinbase exchange ranked first in the hierarchy of the best Bitcoin exchanges in 2022.
The exchange supports 33 countries and has served over 12 million customers to exchange over $40 billion in top digital currencies. Read Coinbase Legit and complete Review.
It also provides altcoin wallets to store supported crypto in 190 countries.
Coinbase supports 23 cryptos right now to buy directly with credit & debit cards.
- Bitcoin cash (BCH)
- Ripple (XRP)
- Stellar (XLM)
- Ethereum Classic (ETC)
- Maker (MKR)
- Augur (REP)
- Basic Attention Token (BAT)
- Loom Network
- District Ox
Coinbase offers a wide variety of payment options.
You can buy & sell crypto with a credit card & debit card, Bank transfer, SEPA, and Xfers transfer (only used in Singapore).
Coinbase charges fees ranging from roughly 1.49% to 3.99%, depending on the payment option. The transaction with the credit card is charged the most.
There are four account verification levels on Coinbase.
The First three levels of verification take only a couple of minutes.
The fourth level of verification can take weeks.
Buying limit ranges from 1000$ to 50000$ transactions per week according to the account level.
Their customer support is satisfactory usually response time is less than 24 hours.
Coinbase security is robust. Two-factor authentication is compulsory to access the platform.
It offers cold storage to store the cryptocurrencies and your coins are also insured.
But I will suggest using a hardware wallet to store your Bitcoin.
- Established and renowned Bitcoin exchange
- High liquidy and buying limits
- Security is robust
- Cryptocurrencies are insured
- Not available in every country to buy cryptocurrencies with a credit card
- Level 4 account verification takes forever.
Use this link and get a 10$ signup bonus after making the first purchase
Coin Mama is an Israel-based veteran cryptocurrency exchange founded in the year 2013.
Coinmama offers very high liquidity.
It offers the highest buying limits among all the best Bitcoin exchanges worldwide.
A user can buy up to 10000$ crypto per day and 200000$ worth of crypto per month.
Western Union and cash is also accepted payment method.
Coinmama’s buying limit depends on the account verification level.
- An unverified user can buy Bitcoin, Ethereum, Bitcoin Cash, Litecoin, ETC, Qtum, and Cardano worth 150$. Then comes level1, level2, and level3
- Level 1 — Transaction limit is 10,000$. To get level 1 verified, the user has to upload a scanned copy of the government-issued ID like Personal ID, driving license, passport or pan card (only one document)
- Level 2 — Transaction limit is increased to 50,000$. To get level 2 verified, the user needs to be level 1 verified and has to upload an extra government-issued ID for any of the above-mentioned documents.
- Level 3 — Transaction limit is increased to 1 million $ worth of altcoins
- There is no limit to a level 3 verified user. To get level 3 verified you should be level 2 verified and has to make a special request to the support (firstname.lastname@example.org).
Coinmama’s transaction fee is relatively high, with a 5.50% fee per transaction.
In addition, Coinmama charges an additional 5% fee on each credit and debit card transaction.
Transactions are instant. Customer support is also very fast and usually replies within few minutes.
Coinmama is without a doubt one of the best bitcoin exchanges worldwide.
Especially if you are looking to buy Bitcoin and other supported cryptocurrencies with a credit & debit card.
Coinmama is available in almost every country in the world except a few states of the USA.
- User-friendly interface.
- Offer one of the highest Bitcoins and altcoins buying limits per day (50000$) for verified members.
- Offers credit card and cash as the payment method
- Very fast transaction.
- One of the best customer support.
- The transaction fee is comparatively high
Note — I strongly recommend the Coinmama exchange if you want to buy Bitcoin and other top cryptocurrencies in abundance with a credit & debit card.
Cex.io exchange is one of the established and popular Bitcoin brokers in the cryptocurrency exchange market.
It is a company based in London and once was the cloud mining provider.
It let you trade in Bitcoin and other decentralized currencies.
Cex.io also supports fiat currency like Euros, Pound, US dollar, and Russian rubles. Cex.io exchange review – Features and Fees, Is it legit & safe?
They provide multiple payment options to buy, sell and exchange cryptocurrency with the fiat currency
One of the interesting things about CEX.IO which makes it is unique.
If you bought 2 Bitcoins at a particular price. You can sell those Bitcoins at the same price you bought.
This is different from other Exchanges where you have to wait until other users offer you your desired price.
This method is known as fill-or-kill orders (FOK).
Cex.io has a strong security architecture. They encourage enabling 2-factor authentication.
There was one incident in 2013 when the exchange got hacked but at that time exchange was young.
They quickly patched up all vulnerabilities in exchange for security architecture and since then everything is running smoothly.
It has a clean, straightforward, and user-friendly interface.
Customer support is of the highest standard and they usually answer within hours with a detailed explanation.
Cex.io allows margin trading, auto trading, and market trading.
Cex.io support 95% of countries across the globe including India and the US.
- Very user-friendly interface, ideal for beginners.
- Cex.io offer multiple payment options like credit & debit card and wire transfer.
- The transaction is fast and instant
- Offers excellent customer support
- Advanced altcoin trading platform with multiple trading options
- The transaction fee is relatively high
Instant cryptocurrency exchange
Changelly is a newly born instant cryptocurrency exchange launched in 2016.
Changelly was established by the exact men who own MinerGate “a mining pool that will allow you to sign up for other miners across the globe”.
Changelly is based in Prague(Checkslovakia).
The exchange is clean and easy to use, has an intuitive interface, best exchange rates, and very low fees.
So it checks all boxes required to fit on the list of best bitcoin exchanges worldwide.
It allows you to exchange one cryptocurrency for another in the most convenient way possible.
It does this by aggregating and suggesting the best rates directly on its website.
Changelly accepts payments in any supported cryptocurrency. Likewise can receive the payout in any supported cryptocurrency.
It let you buy & sell Bitcoins and altcoins instantly with USD using a credit & debit card.
There is a static trading fee of 0.5% fee, which is fairly competitive.
However, cheaper rates are available when working directly on the market trading platform.
But if you buy & trade using fiat currency (i.e., dollars, euros, etc.) directly then fees vary with this method.
The trading fee can reach up to 15% on a bad day. Changelly exchange review: Changelly pro, fees, is Changelly safe & legit?
Changelly supports almost every country in the world including India, the USA, and the UK.
It has very high buying limits and solid liquidity. Security is top-notch with great customer support.
- No ID verification is needed to access the platform
- The largest offering of active altcoins in the cryptocurrency exchange market.
- The interface is clean, simple, and beginner-friendly
- Can buy any cryptocurrency including Bitcoin with a credit & debit card
- Exchange rates are slightly higher when purchasing cryptocurrency using the credit & debit card
7. Local Bitcoins
Local Bitcoins exchange is a Finland-based Bitcoin exchange founded in 2012.
It is without a doubt world’s leading and best Bitcoin exchange.
Local Bitcoins exchange is (p2p) person-to-person transactions all over the world. Legit LocalBitcoins Review – Best P2P Exchange To Trade Cryptos
If we simplify it means you can directly interact with the person you are selling or buying Bitcoins.
It is one of the largest peer 2 peer exchanges in the world and so is one of the most trusted Bitcoin exchange
There is no selling or buying limit set by Local Bitcoins.
It offers a variety of payment methods to buy and sell Bitcoin (almost every international payment option), including cash.
On top of this, it also accepts the country’s local payment method.
For example in India, you can make a transaction using Paytm and Bhim app which is widely-used local payment methods in the country.
One of the major factor why Local Bitcoins is so popular, it does not require any id verification to trade.
They don’t even ask for the personal details of the user, except for those who want to trade in thousands of dollars.
Transactions are instant and fast. The seller is only charged which 1% fee.
There is no fee for the buyer.
Security is very robust.
Local Bitcoins use escrow services. When the transaction is carried out Fund and Bitcoin are held by the exchange until both parties confirm all parts of the transaction.
Escrow service decreases any probability of getting scammed.
You can only trade after enabling 2-factor authentication.
Each trader has a reputation rank and also public history records showing their past activities.
Support is instant and fast. Support usually replies within an hour.
Local bitcoins also offer a public forum where members can interact with other members and can find the solution to their problems.
The interface is user-friendly and very easy to navigate even for newbies.
- Local Bitcoins exchange is one of the most private ways to purchase Bitcoin.
- A highly respected and good reputation
- Low transaction fees
- No ID verification is needed.
- A wide variety of payment methods are available including Amazon gift cards etc
- In-person, cash trades are fast and well organized by Local Bitcoins
- One of the most secure, popular, trusted, and best Bitcoin exchanges in the world with millions of clients.
- Some clients require ID verification to trade larger amounts.
- In “in-person” cash deals, the speed of delivery is entirely dependent on the seller confirming payment.
- Not available in every country.
- There are many scam users. You need to be cautious.
Paxful is a peer-to-peer bitcoin marketplace that allows you to quickly and easily buy and sell bitcoin.
Paxful can be said to be the sister site of Local Bitcoins.
Paxful is located in Wilmington, Delaware USA, and was launched in 2015.
It has a user-friendly, clean, and easy-to-use interface. One of the best bitcoin exchange
Paxful offers the most diverse range of payment methods available online ( more than 300).
Paxful doesn’t charge buyers a fee.
Instead, its fees come from sellers, who pay a fee equal to 1% of the total transaction amount.
However, the buyer will be charged a fee chosen by the seller.
The fee varies according to the payment method. For example, Paying by gift card often results in higher fees.
Choose a seller with caution because there are many negative reviews on the online forum.
Check trader ratings and past trades’ user feedback.
Paxful also provides a public forum where you can share your trading experience including concerns.
Paxful’s servers are also maintained in accordance with the highest banking specifications.
While making any transaction funds are held in escrow until both parties confirm all parts of the transaction.
Escrow service decreases any probability of getting scammed.
My personal experience with Paxful is swift, seamless, and hassle-free.
It ticks all the boxes to be ranked on our list of best Bitcoin exchanges worldwide in 2022.
- Transactions are fast and instant
- More than 300 payment options are available
- Easy to use and beginner-friendly platform
- Security is robust
- Watch out for scammers
- Slow customer support (still satisfactory)