Exchanges for Bitcoins and other cryptocurrencies are constantly growing. The technology continues to advance and allow for new methods of doing things.
More importantly, this growing presence is forcing governments to create laws regarding these exchanges and the use of cryptocurrencies. Because of this some exchanges have been shut down or have had to alter the form of payment methods they allow.
Some of the major platforms to exchange fiat currency for cryptocurrencies are not permitted in all countries.
Buying Bitcoins
Bitcoin continues to be the dominant cryptocurrency. It is always a trading pair for Altcoins.
Some of the most prevalent websites to purchase Bitcoin directly with fiat currency are:
- https://www.coinbase.com/
- https://www.kraken.com/
- https://www.bitstamp.net/
- https://changelly.com/
- https://cex.io/
- https://xcoins.io/
- https://www.coinmama.com/
- https://localbitcoins.com/
The most unique of these options is LocalBitcoins.
This is Peer-to-Peer matching platform that allows users to buy and sell Bitcoins directly to each other. Depending on what country you live in, these websites may or may not be available to you.
The most commonly accepted payment is a direct Bank transfer, however, credit card payment is not uncommon. With LocalBitcoins, there are users available that will accept just about any form of payment you can think of – even things like Gift Cards.
However, the downfall is that Bitcoin sellers will generally charge higher than the going market rate for Bitcoin.
Buying Altcoins
The market for Altcoins is growing along with the advances of technology and the market segment as a whole. Many of these Altcoins are not simply trying to emulate Bitcoin, but are taking steps forward to bring more versatility and use cases to cryptocurrencies and Blockchain technology.
Bitcoin is generally the standard trading pair for any Altcoin, however, Ethereum and Litecoin are two other common trading pairs.
Most exchanges to purchase Bitcoin with fiat do not also allow purchase of Altcoins, or a trading exchange for them.
Some of the most popular trading websites for Altcoins are:
- https://www.binance.com/
- https://www.cryptopia.co.nz/
- https://www.coinexchange.io/
- https://cex.io/
- https://yobit.net/en/
- https://poloniex.com/
- https://idex.market/
- https://altcoin.io/
- https://www.shapeshift.io/#/coins
Altcoin.io is an example of one of the new forms of exchanges that maintain decentralization.
Instead of deposing your coins into an exchange, these allow your coins to stay secure and distributed. Shapeshift.io utilizes an emerging technology called “atomic swaps,” that convert between coins without the process of buying and selling in a market setting.
There is no one exchange with every Altcoin.
It is expensive to hold a place on the very popular exchanges, and the lesser-known Altcoins simply can’t afford it.
Some exchanges only deal with ERC20 tokens, which are similar to cryptocurrencies but are powered by the Ethereum Blockchain via smart contracts.
There is a huge range of features to all of these options. It’s almost impossible to say there is a best because it depends on what the individual wants from the process and which coins they are trying to trade or acquire. An individual’s country of residence will also dictate what their options are.
A very good list of ranked exchanges can be viewed at https://www.bestbitcoinexchange.io/
It does not yet include this newer UK Exchange: https://bittylicious.com/
