Bitcoin Exchange Reviews

Bitcoin Exchange Reviews

Use this Bitcoin exchange list to find a Bitcoin exchange for you. Each user has unique needs, so there is no one size fits all for exchanges.

 

Popular Bitcoin Exchanges

CoinbaseCoinbase Buy Bitcoin Read Review

Coinbase is the world’s largest Bitcoin broker, available in the United States, UK, Canada, Singapore, and most of Europe.

Customers can buy bitcoin with a connected bank account, credit/debit card, SEPA transfer, Interac Online, iDEAL, and many more payment methods depending on location.

LocalBitcoinsLocalBitcoins Buy Bitcoin Read Review

LocalBitcoins is a peer-to-peer Bitcoin exchange. Buyers and sellers agree on trade terms, and LocalBitcoins makes sure the trade goes through with no problems for both parties. LocalBitcoins is considered a good way to buy bitcoins privately or with cash.

CoinMamaCoinMama Buy Bitcoin Read Review

CoinMama is a bitcoin broker that specializes in selling bitcoins for credit card to nearly anyone in the world.

CEX.IOCEX.IO Buy Bitcoin Read Review

CEX.IO allows for the buying of bitcoins for low fees via credit card. Customers can also purchase for free with bank transfers. CEX.io is available for use in most countries.

Wall of CoinsWall of Coins Buy Bitcoin Read Review

Wall of Coins is a peer-to-peer Bitcoin exchange that makes it easy to buy and sell bitcoins.

itBititBit Buy Bitcoin Read Review

itBit is a global Bitcoin exchange licensed with the New York State Department of Financial Services. It also operates a global OTC trading desk.

USA

The above exchanges all work in the USA, but the exchanges listed below only work in the USA.

BitQuickBitQuick Buy Bitcoin Read Review

BitQuick is a Bitcoin exchange that lets customers buy bitcoins with cash via cash deposit.

Bitcoin Exchanges in Europe

CoinhouseCoinhouse Buy Bitcoin Read Review

Coinhouse, based in Paris, France, lets users buy bitcoin with a 3D secure credit card or debit card, or with Neosurf prepaid cards. Coinhouse has plans to expand its service to the rest of Europe in early-2016.

BitPandaBitPanda Buy Bitcoin Read Review

BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.

BititBitit Buy Bitcoin Read Review

Bitit, based in Paris, France, lets users buy Bitcoins online with a 3D secure credit card or debit card, and with cash using Neosurf, Flexepin and Cashlib prepaid vouchers.

More Exchange Reviews

While we don’t have a dedicated page for every exchange, the section below will give you more details on other popular exchanges

Gemini Review

Gemini is a Bitcoin exchange run by the Winklevoss twins.

It’s a licensed Bitcoin exchange and operates in 42 US states and many other countries (check here for full list of supported districts):

gemini review

Once you create an account on the exchange you will need to setup 2-factor authentication, verify your bank account, and verify your identity. Once you do all of that you can get started with the exchange.

Gemini’s interface can be confusing for first time buyers, which is why we usually recommend Coinbase to new buyers. Have a look at the trading interface below:

gemini review

If you can get past understanding how to use Gemini it is a unique exchange. Some of its great features include:

Instant Deposit for ACH Transfers

At most exchanges, when you deposit via bank transfer you have to wait 1-7 days for the bank transfer to complete. Gemini understands this is frustrating and time consuming.

Luckily for US users, you can make instant ACH deposits to Gemini. This means you can buy bitcoins super fast. You will have the bitcoins you bought locked into your account until your ACH deposit clears, but at least this way you were able to buy bitcoin fast and lock in the price you wanted!

Kraken Review

kraken

If you live in Europe, don’t worry!

Kraken is a global Bitcoin exchange and supports European residents along with residents of the United StatesCanada, and Japan.

Kraken offers excellent liquidity as its average daily volume is around 10-12 million euros. So if you want to buy large amounts of bitcoins, Kraken is a good option.

Verification

Like all regulated exchanges, you will have to verify your identity and personal details before buying.

Here are Kraken’s limits based on your verification level:

kraken review

So in order to deposit money and buy bitcoins, you will need to verify your:

  • Full name
  • Date of birth
  • Country of residence
  • Phone number
  • Address verification

There are further verification levels, but most people will only need Tier 2 to buy bitcoins.

User and Trading Interface

Like other exchanges geared towards traders, its interface can be quite confusing. Kraken, however, has aimed to make things easier for first-time buyers and its “Simple” order form is pretty easy to use:

kraken review

Fees

Kraken’s fees are quite confusing. So to keep it simple we will summarize:

If you are buying less than $50,000 of bitcoins per month expect to pay between 0.16-0.26% in fees per buy.

If you use the “Simple” order form is displayed above you will pay 0.26%. If you want to learn how to use Kraken’s advanced order types you can pay just 0.16% if you become a “market maker”.

Bitstamp Review

bitstamp

Bitstamp is one of the longer running Bitcoin exchanges. It has been around since 2011 and is a licensed exchange with the Luxembourg’s Ministry of Finance

It is a good option for traders and those buying large amounts of bitcoins.

Verification

bitstamp review

Bitstamp requires extensive verification including the following information:

  • Full name
  • Date of birth
  • Country of residence
  • Phone number
  • Address verification
  • ID number and scan of photo ID document

Fees

Because Bitstamp is geared towards traders, it also has confusing fees if you use the exchange. The fees you pay depend on your total volume. Unless you trade high volumes, you will likely pay 0.25% per buy.

If you buy bitcoins on Bitstamp with your credit card then the fees will be 8% for purchases up to $500 or €500. There are other exchanges that offer lower fees for buying bitcoins with a credit card or debit card.

Bitfinex Review

Bitfinex is a popular exchange because in terms of USD trading volume it has the most liquidity. It currently owns about a 10% share of the USD trading market.

Because of its confusing interface, it’s probably only a good choice for traders who really know what they are doing. Here is what the main trading interface looks like:

bitfinex review

Despite getting hacked and losing $70 million or more in customer funds, Bitfinex remains a popular option for serious traders. Still, the hack is scaring some people away.

In the chart below, the orange portion of the bars represent Bitfinex’s share of USD volume:

bitfinex share

Verification

One thing that has made Bitfinex popular is that if you only make a deposit with cryptocurrency no verification is required. If you want to deposit dollars or euro then you WILL have to verify your ID.

Fees

Btifinex offers very low fees even for low volume buyers, at 0.1% per buy for market makers and 0.2% per buy for market takers.