Best Cryptocurrency Exchanges

Reviews of the best crypto exchanges in the US based on security, ease of use, fees, assets and much more.

The 7 best crypto exchanges in the USA are:

  1. eToro – Easy for Beginners
  2. Kraken – Most well known Cryptocurrency Exchange
  3. CoinMama
  4. Coinbase – World’s Largest Cryptocurrency Exchange
  5. bitFlyer
  6. Wirex

Reviews of the best crypto exchanges based on security, ease of use, fees, assets and much more.

The 9 best crypto exchanges are:

  1. Kraken – Most well known Cryptocurrency Exchange
  2. Coinbase – World’s Largest Cryptocurrency Exchange
  3. CoinMama
  4. BitFinex – Lowest fees
  5. CoinSmart
  6. bitFlyer
  7. StormGain – One-stop-shop for cryptocurrency enthusiasts
  8. Wirex

eToro Cryptocurrency Exchange

Outside of the USA eToro is a well-known online CFD trading destination. It has been around for quite some time now, preceding the existence of the bitcoin network. For years, it focused on the online trading of traditional asset classes, but with the rise of the cryptocurrency industry, it seized the opportunity to branch out.

It lets their customers buy cryptocurrencies for fiat money and withdraw these coins to the eToro wallet. While this sounds simple enough, there are a few subtleties you should know regarding crypto withdrawals.

eToro Platform
eToro Platform

eToro Products

eToro offers a simplistic-looking online trading interface that packs some real power in regards to analysis, research, and copying the moves of successful traders.

Traders who do not trust their technical and fundamental analysis skills can decide to simply Copy People. By clicking this section, users gain access to a host of recommended trading accounts that they can follow. There is an editor’s choice section, a most copied section, a long-term investor section, etc.

Besides copying the trades of their more successful peers, eToro users can also invest in Copyportfolios. The broker offers several options in this regard, including a pharma portfolio and a crypto one. Such portfolios act like indexes. They provide traders exposure to a wide range of tradable assets, and through them, to whole markets. The crypto copy portfolio balances bitcoin, ADA, Ethereum, Dash, and scores of other digital assets.

eToro Crypto Withdrawals

How do you buy/withdraw cryptocurrency at eToro?

The first step is to download and install the eToro blockchain wallet app for Android or iOS. The app is available for free. The username and password for the wallet are the same as the username and password for the eToro trading account.

The second step is to create a wallet for the crypto you want to transfer out of the trading platform.

Next, click the Portfolio section, and choose the asset you want to withdraw to the wallet. Click on the trade that you want to transfer. Provided the trade fulfills the withdrawal requirements, you get an option for transferring to your wallet.

eToro Platform
eToro Platform

Make sure you review all of the information about your transfer before you click the blue Transfer button and initiate the withdrawal. You will get a confirmation of your transfer.

You should be aware that:

  • It takes eToro 2-3 business days to process such requests.
  • Once you transfer cryptocurrencies out of the trading platform, you cannot send them back.
  • To use the eToro wallet, you need an SMS-verified cell phone with 2FA enabled.

You can send crypto funds from your eToro wallet to an outside wallet. In addition to withdrawing cryptocurrencies, eToro users can also exchange crypto for crypto through the wallet. Withdrawals only incur blockchain fees. Exchanges, on the other hand, carry a 0.1 percent conversion fee.

Conclusion

Purchasing cryptocurrencies through eToro may not be as simple as using some of the mainstream crypto exchanges, but it is certainly a viable option. The brokerage is well-known across the globe, and its reputation is good.

Like the eToro wallet app, the trading platform is also available in mobile app versions as well, for iOS and Android.

Open Account

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.



Kraken Cryptocurrency Exchange

Founded in 2011, Kraken is a cryptocurrency exchange based in San Francisco, California. As one of the oldest and most reputable cryptocurrency exchanges, Kraken occupies a special spot in the crypto-sphere. Over the years, Kraken has grown into one of the most popular and well-regulated destinations for crypto beginners and advanced traders.

The company has made the protection of its clients’ funds its top priority. According to Coinmarketcap, it is currently the fourth biggest crypto exchange.

Kraken’s Services

The operation is far from being a simple onramp for beginners into the world of cryptocurrencies, although it acquits itself of that role well. In addition to allowing its users to buy and sell cryptocurrencies through high-liquidity fiat-to-crypto trading, it also lets them:

  • Trade through dark pools for added privacy and anonymity
  • Use the OTC service
  • Take advantage of 5x leverage through cryptocurrency margin trading
  • Trade Forex
  • Take advantage of 24/7 customer support

Of these services, OTC trading aims at institutional clients, who may want to pick up massive amounts of cryptocurrencies without significantly moving the needle on the markets.

Kraken Platform Screenshot
Kraken Platform

In addition to fiat-to-crypto exchanges, Kraken also allows its users to exchange one fiat currency for another.

What Kraken’s users love the most about the operation is the security it offers, its low fees, reliability, and versatile funding options. The sign-up process is also simple though in-line with its compliance efforts, Kraken has instituted a thorough KYC policy. To be allowed to trade, you have to provide proof of your identity and address.

The exchange supports three account types: Starter, Intermediate, and Pro. Of these, the Pro account offers the highest limits.

The Kraken Crypto Trading Interface

The trading interface of the broker is web-based, simple, straightforward, yet highly functional.

It is available in Simple, Intermediate, and Advanced versions. The Intermediate and Advanced versions give users more options, such as setting the fee currency, tinkering with the leverage, expiry, etc. The advanced version features many advanced order types, such as Stop Loss, Take Profit, Stop Loss Limit, Take Profit Limit, and Settle Position.

Kraken Platform Screenshot
Kraken Platform

Kraken Pro features an order book, charts, watch-lists, and some technical analysis options/indicators. In this regard, it is a lot like Coinbase.pro. Through this advanced interface, traders can select the market they want to trade. They gain a thorough insight into the order books of the exchange. They can view the buy and sell orders unfold in real-time.

The order history section creates an overview of their past trades. The Trading screen allows users to Buy/Sell, setting various order types, quantities, and other variables of the order. It also lets users review their settings before they launch the order.

Kraken lets users withdraw their crypto funds to external hardware wallets.

The Bottom Line

Kraken is one of the best destinations for the buying, selling, and converting of various cryptocurrencies. It offers an excellent market selection, it supports a decent selection of fiat currencies, and its Pro features are superb.

The exchange is also well-regulated in one of the most demanding jurisdictions in the world.



Coinmama Cryptocurrency Exchange

Coinmama is not a cryptocurrency exchange in the most widely-accepted sense of the term. It does not feature an app with charting and an order book. Those who buy bitcoin, Ethereum, or several other supported cryptocurrencies at Coinmama buy directly from the operator and not from other users who sell.

Coinmama does not have a trading app. Transactions take place via a web-based interface, which is as simple as it could be. Purchases are all instant, and the same goes for sales.

Coinmama Cryptocurrency Exchange Platform
Coinmama Cryptocurrency Exchange Platform

The corporate entity behind Coinmama is Cmama Ltd., a registered company in Ireland. The company registration number is 672704. The Coinmama brand is the property of New Bit Ventures Ltd.

The physical address of the operation is 3 Ballsbridge Park, Ballsbridge, Dublin, Ireland, DO4 C7H2.

The user feedback concerning Coinmama’s services is a mixed bag, although most users like and appreciate the exchange service.

  • Most users love the Coinmama support. According to some reports, Coinmama support staff was helpful even when clients provided the wrong addresses for their bitcoin purchases.
  • The speed with which Coinmama processes transfers has been regarded as one of the strong suits of the operation.
  • The operation is user-friendly. It has made it very simple to buy and sell cryptocurrencies.
  • The Coinmama site does what it is supposed to do, mostly without hiccups.

While the user feedback is overwhelmingly positive, there are a few dissenting voices mixed in with the chorus of praises.

  • Some users have complained that at first, Coinmama’s services worked well. Later, however, they could no longer buy cryptocurrencies, and the site failed to explain the problem.
  • A handful of complainers have alleged that Coinmama took their monies and failed to deliver the cryptocurrencies they had bought. It is unclear whether such users entered the correct addresses when making their purchases. Using the wrong address can irrevocably derail transfers.
  • Many of the negative feedback providers seem to be scammers. They falsely accuse the operator of some kind of failure, plugging their shady funds-recovery services.
  • Some uses do not appreciate the KYC requirements of the site.

Coinmama does what it says it does. It helps its users buy bitcoins in a simple, straightforward way. And it provides great support to those who run into problems.

Coinmama’s Products

The Buy/Sell service is the base product of the operation. It features live pricing in USD and EUR, and it allows users to purchase fractions of a bitcoin. The website supports many languages and a total of seven cryptocurrencies: bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Cardano, Litecoin, and Tezos.

Users have to buy at least $60 worth of cryptos. On level one, the buy limit is $5,000, and the monthly purchase limit is $15,000.

Coinmama charges a 5.5 percent commission on purchases. In addition to this, buyers will pay a 5 percent fee to their credit card provider.

Some may find these fees excessive.

Coinmama Business is a recently added product targeting corporate buyers/sellers. If you want to buy more than $100,000 worth of cryptocurrencies, this is the Coinmama service you need.

To make such large purchases, you need to provide your personal information through a form, leaving your email or phone number and the approximate amount you want to buy.

Coinmama Cryptocurrency Exchange Platform
Coinmama Cryptocurrency Exchange Platform

The Coinmama Platform

Coinmama’s trading platform is its website. The service does not have a dedicated platform. All you need to do is select/enter the amount you want to purchase after verifying your account, provide your crypto address, and pull the trigger.

To sell cryptocurrencies, you need a European bank account. Coinmama does not offer a mobile app currently.

Conclusion

Although it is not a crypto exchange in the traditional sense, Coinmama is a great destination for buying and selling cryptocurrencies.



Coinbase Cryptocurrency Exchange

The consensus about Coinbase is that it is one of the world’s top cryptocurrency exchanges. According to press reports, Tesla completed its recent $1.5 billion bitcoin purchase through Coinbase. The co-founder and chief executive officer of the exchange, is Brian Armstrong, a well-known crypto celebrity. More than 43 million people worldwide have thus far found Coinbase worthy of their trust.

If you are a cryptocurrency beginner, it makes perfect sense to start your crypto journey at Coinbase. The exchange allows users to buy, sell, convert, and store cryptocurrencies through a trifecta of dedicated platforms.

Although Coinbase’s services seem to be universally appreciated, its high fees are not particularly popular.

Coinbase.com Website Screenshot
Coinbase.com Website

Coinbase’s Products

Coinbase’s three platforms are:

  • Coinbase.com focused on easing beginners into buying, selling, and exchanging cryptocurrencies
  • Coinbase.pro, offering the same services for advanced/institutional users, featuring graphs, an order book, and a better fee structure
  • The Coinbase wallet, where users can store their freshly acquired cryptocurrencies

Coinbase’s merchant solutions allow providers of products and services to accept crypto as payment.

Coinbase.com

Coinbase.com is the beginner-oriented segment of the Coinbase product suite. It makes buying and selling cryptocurrencies as simple as clicking a few buttons. Users can send funds to their Coinbase accounts through bank transfers. They can also use a credit card to buy crypto, provided their bank allows it.

The lower and upper limits on credit card purchases are very generous. They span the GBP 1.99-GBP 3,000 range. Buying and selling are fully transparent. The platform features a Buy/Sell preview that lists all the variables of the trade, including the fees.

For bank transfer deposits, the Coinbase app uses a USD/GBP/EUR wallet depending on your location. You can then use the funds deposited in this wallet to buy/sell crypto.

The coins that you buy through Coinbase.com land in your account. You can then transfer them from your Coinbase account to your Coinbase wallet or an outside online/hardware wallet. Always pay close attention when entering the address to which you wish to send your digital assets.

Through Coinbase.com, you can also convert one cryptocurrency directly to another, through the same interface you use for buying/selling. Just choose the “convert” option.

Coinbase.pro

Coinbase.com’s fees are indeed on the steep side. To circumvent them to some degree, you can use Coinbase.pro, a fully-featured virtual exchange floor.

Do not let the daunting aspect of the Coinbase.pro interface intimidate you. At a closer look, it clicks wonderfully, allowing you to deposit/withdraw fiat funds, as well as buy and sell cryptocurrencies as conveniently as Coinbase.com. The fees at Coinbase.pro are significantly smaller.

Coinbase Pro Platform Screenshot
Coinbase Pro Platform

In addition to your trade history, the Coinbase.pro interface features an order book, as well as an overview of your open orders. You can deposit funds directly to Coinbase.pro the same way you would at Coinbase.com. You can also transfer funds from Coinbase.com, free of charge.

Coinbase.pro allows you to launch market orders, as well as Limit and Stop orders. The advanced trading interface also offers a chart, complete with limited technical analysis capabilities.

The Bottom Line

Coinbase is a good choice for those wanting to buy/sell/store/convert cryptocurrencies. The operation has gone to great lengths to ensure legal compliance. As a downside of this, you will have to jump through some KYC hoops to get started.



bitFlyer Cryptocurrency Exchange

Unlike some of the operations we have reviewed thus far, bitFlyer is a “thoroughbred” cryptocurrency exchange in the sense that it does not just allow its users to buy bitcoin and a few other crypto assets through some quirk. It is a full-fledged exchange with an advanced trading interface, order book, and charting options.

Founded in 2016 in Tokyo, Japan, bitFlyer offers cryptocurrency exchange services in Japan, the US, and Europe. Unlike the activity of most other cryptocurrency exchanges, bitFlyer’s operation is regulated and authorized.

  • In the US, the New York State Department of Financial Services regulates the activity of the exchange.
  • In Japan, the regulatory status of the exchange is solid but complicated. The regulator overseeing its activity is the Kanto Local Finance Bureau. The license this entity has provided to bitFlyer bears the number 00003. bitFlyer Inc is a member of the Japan Virtual and Crypto Asset Exchange Association. It operates as a class I financial instruments and exchange business.
  • The European-facing website of the exchange does not specify its regulatory status there.
bitFlyer Cryptocurrency Exchange
bitFlyer Cryptocurrency Exchange

Although its website claims that at one point, the exchange recorded the largest crypto trading volume in Japan, the user feedback available on bitFlyer’s services is confusing. Most people call the exchange a scam for some reason. Granted, most of these negative reviews lack credibility. They advertise some shady fund-recovery agencies, and they mostly look like spam.

bitFlyer Products/Services

The exchange offers an impressive selection of services and products covering advanced exchange needs, beginners, as well as blockchain research.

bitFlyer offers a simplified Instant Buy service that allows users to acquire crypto assets with minimum fuss. Be aware that bitFlyer’s services require two-factor authentication. As such, the exchange requires you to supply your email address and phone number.

In addition to the Instant Buy service, bitFlyer users can also buy/sell several crypto/fiat pairs, such as bitcoin, Ethereum, Ethereum Classic, Litecoin, and Bitcoin Cash. bitFlyer users can buy these cryptocurrencies with their credit cards and through other similarly convenient payment methods.

The interface is simple and self-explanatory. The fees the exchange charges are very attractive. Its low fees are among the main selling points of the exchange. Be aware of the fact that due to regulatory reasons, the rates the US, Japanese, and European branches of the exchange use might differ.

bitFlyer Cryptocurrency Exchange
bitFlyer Cryptocurrency Exchange

The bitFlyer Lightning Platform

The advanced exchange platform is a fully-fledged trading solution for those looking to cash in on smaller market swings and professional traders.

The exchange interface supports advanced charting with scores of time frames and technical indicators. bitFlyer Lightning also allows users to customize the interface, using different layouts and overlays.

Besides the charting window, the platform also features a comprehensive order book, an execution history section, and an Open Orders overlook. Launching an order is as simple as clicking the Buy or Sell button and filling in the required information on the variables of the trade.

bitWire is an interesting new feature that allows cryptocurrency users to send bitcoin using only an email address instead of a public address. Such solutions may play a significant role in the coming mass adoption of cryptocurrencies and digital assets, simplifying use and making them available to the common person with no technical proclivities.

bitFlyer’s chainFlyer blockchain analysis tool offers a graphical look at the activity on the bitcoin blockchain. It allows users to find any transaction, block hash, or address.

The Blockchain Lab of the exchange lets users write messages into the bitcoin blockchain, audit bitcoin addresses, and add files to the blockchain.

Conclusion

bitFlyer is a regulated crypto exchange featuring low fees, an advanced trading interface, and a simple buy/sell solution for beginners.

On the downside, the exchange enforces strict KYC measures, supports few crypto assets, and lacks advanced trading through its mobile app.



Wirex Cryptocurrency Exchange

Wirex is a mobile platform for payments offering crypto-to-fiat and fiat-to-crypto exchange services as part of a larger package of features. Wirex is not a proper cryptocurrency exchange, but it does allow its users to buy and sell digital assets.

Also, unlike some services that may seem similar, Wirex lets users deposit real cryptocurrencies from an external wallet, and withdraw their cryptocurrencies from Wirex to an external wallet. Wirex does not deal in “paper” bitcoin, of the type that you can only ever withdraw as a fiat equivalent.

If you want to buy cryptocurrencies with Wirex, you can transfer fiat funds to your Wirex account from your credit- or debit card, convert them to the cryptocurrency of your choice and then withdraw the crypto to your wallet. Just select Send from the actions list, enter the destination address and click Send. Confirm the transfer, and you are done. Crypto withdrawals are irreversible.

Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange

Although the service seems to work as advertised, it has drawn many negative user reviews online. Many people are convinced that Wirex is a scam. Again, as far as we have been able to tell, it works as it is supposed to work. Spending bitcoin through your Wirex card may not be the simplest proposition, as it involves conversions and transfers, but it does work in practice.

What do users dislike about Wirex?

  • Some users have complained about prohibitive fees, even though the service advertises zero conversion fees.
  • Others have complained about the impossibility to withdraw fiat funds to their bank accounts.
  • Many others have found the quality of the Wirex support lacking. Some users say they had their funds locked up in their Wirex accounts for more than 300 days, and support never bothered answering their pleas.
  • Still others have alleged sudden and unexplained account closures that resulted in them losing thousands of pounds.

What do users like about Wirex?

Despite the mentioned complaints and negative reviews, the majority of Wirex users like the products the platform offers.

  • Many users appreciate the freedom Wirex gives them in how they spend their money.
  • The app is very user-friendly and easy to use.
  • Wirex lets its users keep crypto and fiat funds on the same card, a functionality that makes it unique.
  • Some users say that they have been using Wirex for years without any problems.

Wirex’s Services/Products      

Wirex’s main selling points are versatility, usability, and reliability.

  • The service offers a multi-currency card supporting nine cryptocurrencies and several fiat options. When you use the card for a purchase, the conversion happens in real-time, at the point of sale.
  • By using the Wirex card, you can accrue crypto rewards. The reward program of the service is very impressive.
  • Because it charges no conversion fees, Wirex can offer savings of up to 3 percent compared with its competitors.
  • Users can withdraw up to GBP 400 per month at an ATM.
  • Wirex users can send money to their contacts in seconds.
  • The service is very flexible concerning pricing. Its goal is to get as many on board as possible and accommodate as diverse a range of needs as possible.
  • Wirex supports instant blockchain-powered crypto transactions.
  • It provides its users instant notifications concerning incoming and outgoing transactions.

Conclusion

Wirex looks like a reasonable way for many to buy and sell cryptocurrencies. In addition to the exchange aspect, the platform also doubles as an attractive solution for spending cryptocurrencies with a massive selection of merchants.

The operation is registered and regulated in the UK as well as Lithuania. Its UK company registration number is 09334596. Based at 9th Floor, 107 Cheapside, London,  EC2V 6DN, United Kingdom, Wirex Limited is regulated by the Financial Conduct Authority (FRN: 902025) under the Electronic Money Regulations 2017.



Kraken Cryptocurrency Exchange

Founded in 2011, Kraken is a cryptocurrency exchange based in San Francisco, California. As one of the oldest and most reputable cryptocurrency exchanges, Kraken occupies a special spot in the crypto-sphere. Over the years, Kraken has grown into one of the most popular and well-regulated destinations for crypto beginners and advanced traders.

The company has made the protection of its clients’ funds its top priority. According to Coinmarketcap, it is currently the fourth biggest crypto exchange.

Kraken’s Services

The operation is far from being a simple onramp for beginners into the world of cryptocurrencies, although it acquits itself of that role well. In addition to allowing its users to buy and sell cryptocurrencies through high-liquidity fiat-to-crypto trading, it also lets them:

  • Trade through dark pools for added privacy and anonymity
  • Use the OTC service
  • Take advantage of 5x leverage through cryptocurrency margin trading
  • Trade Forex
  • Take advantage of 24/7 customer support

Of these services, OTC trading aims at institutional clients, who may want to pick up massive amounts of cryptocurrencies without significantly moving the needle on the markets.

Kraken Platform Screenshot
Kraken Platform

In addition to fiat-to-crypto exchanges, Kraken also allows its users to exchange one fiat currency for another.

What Kraken’s users love the most about the operation is the security it offers, its low fees, reliability, and versatile funding options. The sign-up process is also simple though in-line with its compliance efforts, Kraken has instituted a thorough KYC policy. To be allowed to trade, you have to provide proof of your identity and address.

The exchange supports three account types: Starter, Intermediate, and Pro. Of these, the Pro account offers the highest limits.

The Kraken Crypto Trading Interface

The trading interface of the broker is web-based, simple, straightforward, yet highly functional.

It is available in Simple, Intermediate, and Advanced versions. The Intermediate and Advanced versions give users more options, such as setting the fee currency, tinkering with the leverage, expiry, etc. The advanced version features many advanced order types, such as Stop Loss, Take Profit, Stop Loss Limit, Take Profit Limit, and Settle Position.

Kraken Platform Screenshot
Kraken Platform

Kraken Pro features an order book, charts, watch-lists, and some technical analysis options/indicators. In this regard, it is a lot like Coinbase.pro. Through this advanced interface, traders can select the market they want to trade. They gain a thorough insight into the order books of the exchange. They can view the buy and sell orders unfold in real-time.

The order history section creates an overview of their past trades. The Trading screen allows users to Buy/Sell, setting various order types, quantities, and other variables of the order. It also lets users review their settings before they launch the order.

Kraken lets users withdraw their crypto funds to external hardware wallets.

The Bottom Line

Kraken is one of the best destinations for the buying, selling, and converting of various cryptocurrencies. It offers an excellent market selection, it supports a decent selection of fiat currencies, and its Pro features are superb.

The exchange is also well-regulated in one of the most demanding jurisdictions in the world.



Coinbase Cryptocurrency Exchange

The consensus about Coinbase is that it is one of the world’s top cryptocurrency exchanges. According to press reports, Tesla completed its recent $1.5 billion bitcoin purchase through Coinbase. The co-founder and chief executive officer of the exchange, is Brian Armstrong, a well-known crypto celebrity. More than 43 million people worldwide have thus far found Coinbase worthy of their trust.

If you are a cryptocurrency beginner, it makes perfect sense to start your crypto journey at Coinbase. The exchange allows users to buy, sell, convert, and store cryptocurrencies through a trifecta of dedicated platforms.

Although Coinbase’s services seem to be universally appreciated, its high fees are not particularly popular.

Coinbase.com Website Screenshot
Coinbase.com Website

Coinbase’s Products

Coinbase’s three platforms are:

  • Coinbase.com focused on easing beginners into buying, selling, and exchanging cryptocurrencies
  • Coinbase.pro, offering the same services for advanced/institutional users, featuring graphs, an order book, and a better fee structure
  • The Coinbase wallet, where users can store their freshly acquired cryptocurrencies

Coinbase’s merchant solutions allow providers of products and services to accept crypto as payment.

Coinbase.com

Coinbase.com is the beginner-oriented segment of the Coinbase product suite. It makes buying and selling cryptocurrencies as simple as clicking a few buttons. Users can send funds to their Coinbase accounts through bank transfers. They can also use a credit card to buy crypto, provided their bank allows it.

The lower and upper limits on credit card purchases are very generous. They span the GBP 1.99-GBP 3,000 range. Buying and selling are fully transparent. The platform features a Buy/Sell preview that lists all the variables of the trade, including the fees.

For bank transfer deposits, the Coinbase app uses a USD/GBP/EUR wallet depending on your location. You can then use the funds deposited in this wallet to buy/sell crypto.

The coins that you buy through Coinbase.com land in your account. You can then transfer them from your Coinbase account to your Coinbase wallet or an outside online/hardware wallet. Always pay close attention when entering the address to which you wish to send your digital assets.

Through Coinbase.com, you can also convert one cryptocurrency directly to another, through the same interface you use for buying/selling. Just choose the “convert” option.

Coinbase.pro

Coinbase.com’s fees are indeed on the steep side. To circumvent them to some degree, you can use Coinbase.pro, a fully-featured virtual exchange floor.

Do not let the daunting aspect of the Coinbase.pro interface intimidate you. At a closer look, it clicks wonderfully, allowing you to deposit/withdraw fiat funds, as well as buy and sell cryptocurrencies as conveniently as Coinbase.com. The fees at Coinbase.pro are significantly smaller.

Coinbase Pro Platform Screenshot
Coinbase Pro Platform

In addition to your trade history, the Coinbase.pro interface features an order book, as well as an overview of your open orders. You can deposit funds directly to Coinbase.pro the same way you would at Coinbase.com. You can also transfer funds from Coinbase.com, free of charge.

Coinbase.pro allows you to launch market orders, as well as Limit and Stop orders. The advanced trading interface also offers a chart, complete with limited technical analysis capabilities.

The Bottom Line

Coinbase is a good choice for those wanting to buy/sell/store/convert cryptocurrencies. The operation has gone to great lengths to ensure legal compliance. As a downside of this, you will have to jump through some KYC hoops to get started.



Binance Cryptocurrency Exchange

Founded in 2017, Binance is a relative newcomer to the cryptocurrency exchange scene. Despite that fact, however, it has managed to take over a massive share of the market remarkably quickly. By January 2018, it had hogged up most of the world’s cryptocurrency exchange volume.

The founder and CEO of Binance is Changpeng Zhao, known in cryptocurrency circles as CZ. Zhao is something of a celebrity. He has garnered a massive following on Twitter and often voices his opinion on various crypto matters.

Zhao founded Binance in China, but following the hostile moves of the Chinese government toward operations like his, moved the exchange to Malta. The regulatory status of Binance in Malta is still unclear.

As far as user feedback goes, Binance’s situation is as unclear as its regulatory situation. The public discusses the services of the exchange on several feedback portals and pages and the opinions expressed are confusing.

Some users love Binance’s services. Others hate them. Some people have accused the exchange of stealing their monies. Others have called their trading platform ‘undermaintained’ and lacking adequate support.

Binance Cryptocurrency Exchange Platform
Binance Cryptocurrency Exchange Platform

Binance’s Products

Binance is much more than a place where traders can buy and sell cryptocurrencies. The Binance platform offers an impressive range of crypto/crypto pairs. The operator has made available futures trading with leverage through the same platform.

In addition to that, the exchange also offers a Convert and OTC portal, that allows the trading of cryptocurrencies easily, in one go.

The Binance Earn feature lets users earn interest on their cryptocurrency savings. There are several options available in this regard, including flexible savings, fixed-term savings, as well as high-risk products, such as DeFi staking, dual investments, and liquid swaps.

In addition to the Binance Earn feature, the platform supports a Binance Savings option that seems to offer the same products/benefits as the savings section of the Earn product. Locked Savings offer higher interest rates than Flexible ones, although they require users to lock up their cryptocurrencies for a set amount of time.

The Binance Launchpad has thus far raised more than $75 million in funding. It has helped launch 41 projects, and it always seems to have something going on. Through Launchpad and Launchpool, the entities interested in launching a new crypto project can gain exposure and access to liquidity. Through the Binance platform, they can have their tokens distributed to a large pool of investors and potential users.

The Crypto Loans platform allows users to get loans they can guarantee with their crypto holdings. Approval is simple and guaranteed. Be careful, however. The annual interest rate is over 50 percent.

Liquid Swaps allow users to become liquidity providers. Through this platform, they can pool their tokens and earn rewards. Providing liquidity is a high-risk activity, however. Sometimes, revenue generated through staking may be underwhelming. Losses are not out of the question either.

The Leveraged Tokens platform lets users take advantage of leveraged trading without risking liquidation.

Leveraged tokens are financial derivatives representing baskets of perpetual contract positions. While this derivative class does not entail ‘traditional’ risks, it does bear specific risks due to the price movements of the contracts, etc.

The Binance Card is a debit card that allows holders to spend their cryptocurrencies anywhere at any time. More than 60 million merchants accept the card worldwide. When you spend crypto through the card, Binance converts your crypto to fiat.

Binance Cryptocurrency Exchange Platform
Binance Cryptocurrency Exchange Platform

Binance’s Platform

The Binance platform is a web-based trading platform featuring decent charting and technical analysis capabilities and a transparent, real-time order book. Buying and selling are as easy as clicking a few buttons.

The platform supports multiple order types, such as market, limit, and stop-limit orders.

Conclusion

As one of the biggest cryptocurrency exchanges, Binance offers an unparalleled suite of services. It is well-known in the industry, and most users appreciate its services.



Coinmama Cryptocurrency Exchange

Coinmama is not a cryptocurrency exchange in the most widely-accepted sense of the term. It does not feature an app with charting and an order book. Those who buy bitcoin, Ethereum, or several other supported cryptocurrencies at Coinmama buy directly from the operator and not from other users who sell.

Coinmama does not have a trading app. Transactions take place via a web-based interface, which is as simple as it could be. Purchases are all instant, and the same goes for sales.

Coinmama Cryptocurrency Exchange Platform
Coinmama Cryptocurrency Exchange Platform

The corporate entity behind Coinmama is Cmama Ltd., a registered company in Ireland. The company registration number is 672704. The Coinmama brand is the property of New Bit Ventures Ltd.

The physical address of the operation is 3 Ballsbridge Park, Ballsbridge, Dublin, Ireland, DO4 C7H2.

The user feedback concerning Coinmama’s services is a mixed bag, although most users like and appreciate the exchange service.

  • Most users love the Coinmama support. According to some reports, Coinmama support staff was helpful even when clients provided the wrong addresses for their bitcoin purchases.
  • The speed with which Coinmama processes transfers has been regarded as one of the strong suits of the operation.
  • The operation is user-friendly. It has made it very simple to buy and sell cryptocurrencies.
  • The Coinmama site does what it is supposed to do, mostly without hiccups.

While the user feedback is overwhelmingly positive, there are a few dissenting voices mixed in with the chorus of praises.

  • Some users have complained that at first, Coinmama’s services worked well. Later, however, they could no longer buy cryptocurrencies, and the site failed to explain the problem.
  • A handful of complainers have alleged that Coinmama took their monies and failed to deliver the cryptocurrencies they had bought. It is unclear whether such users entered the correct addresses when making their purchases. Using the wrong address can irrevocably derail transfers.
  • Many of the negative feedback providers seem to be scammers. They falsely accuse the operator of some kind of failure, plugging their shady funds-recovery services.
  • Some uses do not appreciate the KYC requirements of the site.

Coinmama does what it says it does. It helps its users buy bitcoins in a simple, straightforward way. And it provides great support to those who run into problems.

Coinmama’s Products

The Buy/Sell service is the base product of the operation. It features live pricing in USD and EUR, and it allows users to purchase fractions of a bitcoin. The website supports many languages and a total of seven cryptocurrencies: bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Cardano, Litecoin, and Tezos.

Users have to buy at least $60 worth of cryptos. On level one, the buy limit is $5,000, and the monthly purchase limit is $15,000.

Coinmama charges a 5.5 percent commission on purchases. In addition to this, buyers will pay a 5 percent fee to their credit card provider.

Some may find these fees excessive.

Coinmama Business is a recently added product targeting corporate buyers/sellers. If you want to buy more than $100,000 worth of cryptocurrencies, this is the Coinmama service you need.

To make such large purchases, you need to provide your personal information through a form, leaving your email or phone number and the approximate amount you want to buy.

Coinmama Cryptocurrency Exchange Platform
Coinmama Cryptocurrency Exchange Platform

The Coinmama Platform

Coinmama’s trading platform is its website. The service does not have a dedicated platform. All you need to do is select/enter the amount you want to purchase after verifying your account, provide your crypto address, and pull the trigger.

To sell cryptocurrencies, you need a European bank account. Coinmama does not offer a mobile app currently.

Conclusion

Although it is not a crypto exchange in the traditional sense, Coinmama is a great destination for buying and selling cryptocurrencies.



BitFinex Cryptocurrency Exchange

Founded in 2012, Bitfinex is one of the older cryptocurrency exchanges. The operation observes strict KYC standards and enjoys an outstanding reputation. The business model of the exchange is transparent. And the About Us section of the official Bitfinex website provides detailed information on the people behind the exchange.

Bitfinex has its in-house utility token, the UNUS SED LEO, which offers its holders benefits such as discounts on trading and lending fees.

BitFinex Platform
BitFinex Platform

The user feedback on Bitfinex’s services is overwhelmingly positive.

  • Most users appreciate the liquidity the exchange offers and the stability of its trading app even during times of peak trading.
  • Other traders have praised the value the Bitfinex support staff adds to the operation.
  • The diversity of the products Bitfinex offers has also been a hit with users.
  • Some feedback providers point out the resilience of the exchange and the stability of its platform as its strong suits.

There are some dissenting voices among user reviews, their complaints ranging from the reasonable to the ridiculous.

  • Some users do not appreciate the multitude of ‘scam coins’ the exchange supports.
  • Others consider that their crypto is not safe at the exchange. They claim that Bitfinex does not bother to help them when they seek to recover cryptocurrencies worth less than $2,500. On a side-note: you should keep your cryptocurrencies in a hardware wallet if you do not want to trade them.
  • Some users have complained about the fees that they found excessive. Others say the exchange seized their funds.

Bitfinex Products

In addition to the buying, selling, and exchanging of cryptocurrencies, Bitfinex offers a staggering selection of complementary products.

The exchange allows its users to lend out their crypto holdings for a profit. Through the same service, those interested can borrow funds as well.

The Bitfinex platform features token sales, and it offers an affiliate program. It also allows users to trade cryptocurrencies through derivatives and use leverage to increase their profits. Other Bitfinex features include:

  • Lightning Network support
  • Staking rewards
  • Shopping
  • The Bitfinex Terminal
  • Bitfinex Pay
  • Access to various other lending products

Some Bitfinex users can access an OTC trading feature that allows whales and institutional investors to buy/sell large amounts of cryptocurrencies.

BitFinex Platform
BitFinex Platform

The Bitfinex Platform

The Bitfinex platform is web-based, easy on the eyes, and highly functional. It supports Tradingview-style charting, with scores of technical indicators, time-frames, and drawing tools facilitating analysis.

Traders can place a variety of orders through the platform.

In Exchange mode, they can Exchange Buy/sell or Margin Buy/sell cryptocurrencies. Within these categories, the trading interface supports an impressive number of order types. Orders can be:

  • Market
  • Limit
  • Stop
  • Stop limit
  • Trailing stop
  • Limit (order book)
  • Fill or kill
  • Immediate or cancel

In addition to these choices, traders can also place advanced orders called Scaled orders. To help traders make sense of all these options, the platform features a handy calculator that reveals every bit of information about the order, including its entry price, direction, exit value, stop value, etc.

The derivatives trading interface supports the same order types and allows traders to quickly select the leverage they want through a slider tool.

To trade derivatives, users have to deposit USD in their derivatives wallet. To fund this wallet, traders can use the Quick Transfer option on their wallets page or the Balances widget from the trading interface.

Conclusion

Bitfinex is a solid, well-put-together, and reputable cryptocurrency exchange. In addition to the features and trading options it offers, it provides an exhaustive guide to teach traders how to use its services. It even gives its users tips on how to pay the least possible fees. Its KYC compliance positions Bitfinex well for regulation within any jurisdiction.



CoinSmart Cryptocurrency Exchange

CoinSmart is a fully-fledged online cryptocurrency exchange that used to focus on Canada. These days, however, the operation is eyeing the European market, as it is looking to set up physical offices in Europe. In addition to CAD, it also supports EUR and USD as fiat currencies for which users can buy a relatively impressive selection of digital assets.

The primary goal of CoinSmart is to make it easy for its clients to buy cryptocurrencies. To that end, it has streamlined its services with the Canadian legal requirements and the safety of its clients’ funds in mind.

CoinSmart Cryptocurrency Exchange
CoinSmart Cryptocurrency Exchange
  • The exchange observes Canadian KYC and AML requirements. This means that to be allowed to use CoinSmart’s services, you need to provide some potentially sensitive personal information. Completing the verification process should not take you more than a couple of minutes.
  • To offer a proper level of safety for its users, the exchange is BitGo insured. It also uses cold storage to handle the crypto funds of its clients, to stave off the danger of a hack.
  • The CoinSmart platform allows users to launch Buy/Sell orders easily. It also supports limit-, stop-, and market orders.
  • The CoinSmart trading platform features a full order book, giving users valuable insight into how people are trading the supported cryptocurrencies.
  • The exchange offers a referral program.

CoinSmart users will be glad to learn that the exchange features a SmartGuarantee. This guarantee covers the following:

  • Funds that users deposit land in their accounts on the same day.
  • The exchange guarantees that fiat money withdrawals will not take more than five days to process.
  • Account verification is near-instantaneous. At the very least, all accounts will be verified on the day they are created.

What do users dislike about CoinSmart?

Interestingly, despite the clean act of the exchange and the straightforward nature of its offers, many users have allegedly had problems with CoinSmart.

  • According to some complainers, the CoinSmart support staff is not as responsive as it should be. The verification process often takes longer than what the SmartGuarantee states.
  • Some users have had to deal with delays when withdrawing their fiat funds or cryptocurrencies.

What do users like about CoinSmart?

  • Despite some of the complaints, most users have found the quality and responsiveness of the CoinSmart support more than satisfactory.

There are surprisingly few user reviews available about CoinSmart’s services.

CoinSmart Cryptocurrency Exchange
CoinSmart Cryptocurrency Exchange

CoinSmart’s Services/Products       

The features CoinSmart offers focus on the “smart” aspect of various cryptocurrency buying/selling operations.

  • The advanced CoinSmart trading platform allows skilled and experienced traders to keep their eyes on real-time charts, do their technical analysis, and trade cryptocurrencies through a handful of advanced order types. The advanced trading platform features a full order book.
  • Although it keeps some of its crypto funds online, in hot wallets, the exchange stores over 95 percent of its crypto funds in cold wallets to ensure their safety. The SmartSecurity feature of the operation also enjoys the full backing of Canadian banks. This way, the exchange can secure reliable on- and off-ramps for its clients at all times.
  • The SmartSupport feature of the exchange offers clients 24/7 support through channels, such as email, live chat, and phone. Live chat support is available directly through the CoinSmart website.
  • CoinSmart’s SmartInterface aims to make it as easy as possible for beginners to buy their first digital assets.
  • The SmartTrade feature allows users to pick the currency they want to sell and the currency they want to buy. This way, they can create the currency pairs they trade. They do not have to take their trading through bitcoin or Ethereum.

Conclusion

CoinSmart brings reasonably priced cryptocurrency exchange services to the table for Canadian users as well as those residing elsewhere in the world. The exchange offers advanced trading features, great security, and a reasonable selection of tradable currencies. The flexibility to create your crypto/crypto trading pairs is a major plus as well.



bitFlyer Cryptocurrency Exchange

Unlike some of the operations we have reviewed thus far, bitFlyer is a “thoroughbred” cryptocurrency exchange in the sense that it does not just allow its users to buy bitcoin and a few other crypto assets through some quirk. It is a full-fledged exchange with an advanced trading interface, order book, and charting options.

Founded in 2016 in Tokyo, Japan, bitFlyer offers cryptocurrency exchange services in Japan, the US, and Europe. Unlike the activity of most other cryptocurrency exchanges, bitFlyer’s operation is regulated and authorized.

  • In the US, the New York State Department of Financial Services regulates the activity of the exchange.
  • In Japan, the regulatory status of the exchange is solid but complicated. The regulator overseeing its activity is the Kanto Local Finance Bureau. The license this entity has provided to bitFlyer bears the number 00003. bitFlyer Inc is a member of the Japan Virtual and Crypto Asset Exchange Association. It operates as a class I financial instruments and exchange business.
  • The European-facing website of the exchange does not specify its regulatory status there.
bitFlyer Cryptocurrency Exchange
bitFlyer Cryptocurrency Exchange

Although its website claims that at one point, the exchange recorded the largest crypto trading volume in Japan, the user feedback available on bitFlyer’s services is confusing. Most people call the exchange a scam for some reason. Granted, most of these negative reviews lack credibility. They advertise some shady fund-recovery agencies, and they mostly look like spam.

bitFlyer Products/Services

The exchange offers an impressive selection of services and products covering advanced exchange needs, beginners, as well as blockchain research.

bitFlyer offers a simplified Instant Buy service that allows users to acquire crypto assets with minimum fuss. Be aware that bitFlyer’s services require two-factor authentication. As such, the exchange requires you to supply your email address and phone number.

In addition to the Instant Buy service, bitFlyer users can also buy/sell several crypto/fiat pairs, such as bitcoin, Ethereum, Ethereum Classic, Litecoin, and Bitcoin Cash. bitFlyer users can buy these cryptocurrencies with their credit cards and through other similarly convenient payment methods.

The interface is simple and self-explanatory. The fees the exchange charges are very attractive. Its low fees are among the main selling points of the exchange. Be aware of the fact that due to regulatory reasons, the rates the US, Japanese, and European branches of the exchange use might differ.

bitFlyer Cryptocurrency Exchange
bitFlyer Cryptocurrency Exchange

The bitFlyer Lightning Platform

The advanced exchange platform is a fully-fledged trading solution for those looking to cash in on smaller market swings and professional traders.

The exchange interface supports advanced charting with scores of time frames and technical indicators. bitFlyer Lightning also allows users to customize the interface, using different layouts and overlays.

Besides the charting window, the platform also features a comprehensive order book, an execution history section, and an Open Orders overlook. Launching an order is as simple as clicking the Buy or Sell button and filling in the required information on the variables of the trade.

bitWire is an interesting new feature that allows cryptocurrency users to send bitcoin using only an email address instead of a public address. Such solutions may play a significant role in the coming mass adoption of cryptocurrencies and digital assets, simplifying use and making them available to the common person with no technical proclivities.

bitFlyer’s chainFlyer blockchain analysis tool offers a graphical look at the activity on the bitcoin blockchain. It allows users to find any transaction, block hash, or address.

The Blockchain Lab of the exchange lets users write messages into the bitcoin blockchain, audit bitcoin addresses, and add files to the blockchain.

Conclusion

bitFlyer is a regulated crypto exchange featuring low fees, an advanced trading interface, and a simple buy/sell solution for beginners.

On the downside, the exchange enforces strict KYC measures, supports few crypto assets, and lacks advanced trading through its mobile app.



StormGain Cryptocurrency Exchange

Based in St. Vincent and the Grenadines, StormGain is a unique operation in the sense that it allows its users to trade cryptocurrency-based CFDs while featuring a full-fledged cryptocurrency exchange, complete with an order book. It also allows traders to exchange one cryptocurrency for another within a couple of clicks/taps.

StormGain Platform Screenshot
StormGain Platform

StormGain Products

StormGain has positioned itself as a one-stop crypto trading spot through a suite of services that aim to cover every need its users may have.

  • The exchange supports the purchase/exchange of cryptocurrencies, with low commissions, easy and quick registration, and extensive charting features.
  • Trading cryptocurrencies with leverage allows users to generate profits off the price movements of the underlying digital assets. Leverage can increase profits but losses as well. The minimum investment required to open an order is just USDT 10.
  • To support its exchange StormGain offers its traders a wallet as well. The multi-currency wallet is a built-in feature, available around the clock from any device world-over. It comes in different versions for iOS, Android, and PC. It is even available through the Huawei AppGallery. Depending on the wallet balance, storing digital assets in the StormGain wallet may earn users handsome rewards. They can get 12 percent annual interest on the cryptocurrency they store there and discounts of up to 20 percent on commissions.
  • StormGain also features a cloud miner, which allows traders to earn minute amounts of cryptos.

 The StormGain Exchange

Using the StormGain exchange is as simple as clicking the Exchange section and then Start. Make sure to click Exchange again, at the top left of the screen, otherwise you will end up in the Futures section.

Select the asset you want to buy/sell. There are several crypto/USDT pairs available through the market selection option. If you want to buy BTC, click BTC/USDT. Take a look at the recent trades section to figure out how other traders have traded this asset, and then enter the amount you want to buy/sell. Click the Buy/Sell button to launch your order. The exchange interface allows traders to choose between market- and limit/stop orders.

The exchange features powerful charting, complete with drawing tools, technical indicators, and an impressive selection of time-frames.

StormGain Platform Screenshot
StormGain Platform

The StormGain Futures Trading Platform

The futures trading platform allows traders to take positions on the projected price evolution of various digital assets using leverage. To trade, you do not have to have cryptocurrencies in your StormGain account. All you need is USDT. To deposit USDT, you need to confirm your address and phone number.

The futures trading interface offers powerful charting coupled with on-chart trading signals. Such signals pop up directly on the chart. Once the user clicks them, they are automatically applied to the trade. All users need to do, is confirm the trade by clicking the Buy by signal or Sell by signal button.

Users can tweak many trade settings. They can modify the leverage, set the Stop Loss and Take Profit and the Auto Increase level.

Conclusion

StormGain is a true one-stop-shop for cryptocurrency enthusiasts. It allows them to buy and trade digital assets and take bets on their price evolution.

It features low commissions, easy registration, and outstanding market analysis.

Users can contact the StormGain support staff through phone (+248 467 19 57), and email (support[@]stormgain.com).



Wirex Cryptocurrency Exchange

Wirex is a mobile platform for payments offering crypto-to-fiat and fiat-to-crypto exchange services as part of a larger package of features. Wirex is not a proper cryptocurrency exchange, but it does allow its users to buy and sell digital assets.

Also, unlike some services that may seem similar, Wirex lets users deposit real cryptocurrencies from an external wallet, and withdraw their cryptocurrencies from Wirex to an external wallet. Wirex does not deal in “paper” bitcoin, of the type that you can only ever withdraw as a fiat equivalent.

If you want to buy cryptocurrencies with Wirex, you can transfer fiat funds to your Wirex account from your credit- or debit card, convert them to the cryptocurrency of your choice and then withdraw the crypto to your wallet. Just select Send from the actions list, enter the destination address and click Send. Confirm the transfer, and you are done. Crypto withdrawals are irreversible.

Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange

Although the service seems to work as advertised, it has drawn many negative user reviews online. Many people are convinced that Wirex is a scam. Again, as far as we have been able to tell, it works as it is supposed to work. Spending bitcoin through your Wirex card may not be the simplest proposition, as it involves conversions and transfers, but it does work in practice.

What do users dislike about Wirex?

  • Some users have complained about prohibitive fees, even though the service advertises zero conversion fees.
  • Others have complained about the impossibility to withdraw fiat funds to their bank accounts.
  • Many others have found the quality of the Wirex support lacking. Some users say they had their funds locked up in their Wirex accounts for more than 300 days, and support never bothered answering their pleas.
  • Still others have alleged sudden and unexplained account closures that resulted in them losing thousands of pounds.

What do users like about Wirex?

Despite the mentioned complaints and negative reviews, the majority of Wirex users like the products the platform offers.

  • Many users appreciate the freedom Wirex gives them in how they spend their money.
  • The app is very user-friendly and easy to use.
  • Wirex lets its users keep crypto and fiat funds on the same card, a functionality that makes it unique.
  • Some users say that they have been using Wirex for years without any problems.

Wirex’s Services/Products      

Wirex’s main selling points are versatility, usability, and reliability.

  • The service offers a multi-currency card supporting nine cryptocurrencies and several fiat options. When you use the card for a purchase, the conversion happens in real-time, at the point of sale.
  • By using the Wirex card, you can accrue crypto rewards. The reward program of the service is very impressive.
  • Because it charges no conversion fees, Wirex can offer savings of up to 3 percent compared with its competitors.
  • Users can withdraw up to GBP 400 per month at an ATM.
  • Wirex users can send money to their contacts in seconds.
  • The service is very flexible concerning pricing. Its goal is to get as many on board as possible and accommodate as diverse a range of needs as possible.
  • Wirex supports instant blockchain-powered crypto transactions.
  • It provides its users instant notifications concerning incoming and outgoing transactions.

Conclusion

Wirex looks like a reasonable way for many to buy and sell cryptocurrencies. In addition to the exchange aspect, the platform also doubles as an attractive solution for spending cryptocurrencies with a massive selection of merchants.

The operation is registered and regulated in the UK as well as Lithuania. Its UK company registration number is 09334596. Based at 9th Floor, 107 Cheapside, London,  EC2V 6DN, United Kingdom, Wirex Limited is regulated by the Financial Conduct Authority (FRN: 902025) under the Electronic Money Regulations 2017.



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