Which Bitcoin exchange do you use, and why?

When trying to decide on the best cryptocurrency exchanges, it is not simply a matter of ranking by volume or performing a broad comparison according to fees, accessibility, trading tools, or other common features.

Most exchanges aim to support a particular type of client based on their location, experience, payment method, need for anonymity and so on, while very few can be considered broad catch-all exchanges designed for a non-existent “average user.”

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The 6 Best Cryptocurrency Exchanges

This table features the top 6 best Bitcoin and crypto exchanges:

Coinbase

Coinbase was created to be the most trusted name in cryptocurrency exchanges, and in this respect, it is more or less unrivaled in the marketplace.

Coinbase is regulated as a US financial institution, including FDIC insurance for US deposits of $250,000 or less, and is compliant with key EU financial regulations. Coinbase is also backed by major mainstream investors, such as banks and investment funds.

Binance

Binance was founded by Changpeng “CZ” Zhao, a Chinese software developer who previously built systems for the Tokyo Stock Exchange and developed futures trading software for Bloomberg’s Tradebook.

Although initially based in China, a crackdown in regulations on cryptocurrencies there led the exchange to move to Japan. However, when Japan’s FCA issued Binance a warning, they decided to relocate to Malta.

FTX

FTX is a revolutionary new exchange which has stormed on to the scene in the last 6 months.

Founded by Alameda Research, a cryptocurrency quant trading firm, it has made a bunch of cool new products. Read our full review of it here: FTX exchange review.

CEX

CEX is a fiat-to-crypto exchange that offers some advanced trading features while still being very friendly for beginners to use.

Otherwise experienced investors who are new to cryptocurrencies often use Bitcoin Exchange, Trading BTC USD, BTC EUR - CEX for the kind of trading that they are accustomed to with traditional securities and platforms.

LocalBitcoins

LocalBitcoins is a peer-to-peer exchange for trading between fiat currencies and Bitcoin.

As a peer-to-peer exchange, LocalBitcoins acts as a medium between two parties who decide for themselves how many Bitcoins to trade, at what price and through which method.

This means that people can make personal transfers of both fiat currency and Bitcoin while avoiding any regulations or taxes that they might face for making the same trade on a traditional exchange.

Bitfinex

Bitfinex is among the most advanced fiat-to-crypto and crypto-to-crypto trading platforms, boasting some of the highest liquidity and trading volumes among exchanges.

Bitfinex has few rivals when it comes to cryptocurrency traders who are looking to implement advanced trading techniques and trade large volumes.

Bitfinex offers the full range of features that traders expect from a platform, including advanced order types, margin trading, and a vast range of coins and fiat currency pairs.