The blockchain is undoubtedly the new .com rush and a lot of people are really marching like determined soldiers into the blockchain economy. Of all the innovations in blockchain technology, the cryptocurrency area is a very long shot ahead, gaining both popularity and interest faster than any other area. The blockchain, tested for different purposes is proving to be a lasting solution to hundreds of years of problems technology has grappled with.
You probably have been thinking of investing in the most trending area in the blockchain all these while. It’s the wisest thing to do now, you think. Although, coming to a conclusion is just one problem you are finding it difficult to handle. The information on the World Wide Web, especially about cryptocurrency, changes so fast. It seems you have to fly to catch up.
Let us look at three of the most popular crypto-exchange websites for buying and selling the most popular cryptocurrency across the globe—Bitcoin. We would talk about Coinbase, Kraken, and Cex.io in this article.
Coinbase founded in July 2011 is one of the biggest exchanges out there. It is also the first Bitcoin enterprise to receive investment from a traditional financial institution. At the 276th spot on the Alexa rank and with over 13 million users, Coinbase seals its reputation as one of the largest in the blockchain ecosystem.
Coinbase.com is an online platform that allows its users buy, sell, transfer and store cryptocurrencies securely. It allows users sign up for an account to get a secure place to store Bitcoin and an easy method to convert Bitcoin into local currencies. Upon Signing up for Coinbase, users would have to complete some verification steps to allow them to connect Coinbase to their bank accounts. Immediately this process is completed, transactions can be done. Coinbase also allows its users to buy and sell Bitcoin based on current prices adjusted to reflect market fluctuations. With Coinbase, you can shop online, pay friends and invest easily. Using Coinbase protects users from fraud and eliminates chargeback while transactions are executed in just a few seconds. Payouts on Coinbase are anticipated daily and refunds can be issued to Bitcoin customers using a simple API. Coinbase charges a percentage rate transactions. This varies with the method used. It supports Bitcoin, Bitcoin Cash, Ether, and Litecoin.
It is not in doubt that by 2017 over 30 countries were supported on by the Coinbase platform. This makes Coinbase one of the worlds largest Bitcoin broker. The advantages users can get from using Coinbase includes high liquidity and buying limits, easy way for new users to buy and sell Bitcoins, and instant buy with credit card serving as a backup. Although, there are disadvantages too like the limited method of payments and the possibility that user activities might be monitored. Exchanges on Coinbase have reached a thumping 6 billion and over in digital currency. Its customer base is also about 6 million.
Backed by trusted investors, Coinbase is one of the most secure digital exchange platforms out there. It offers a wallet and developer exchange API. The objective Coinbase sets to achieve is providing a simple user interface that makes it easy for the first time buyers to purchase Bitcoins. This could be why Coinbase customers can buy Bitcoin with a credit card or debit card Other Payment Methods Include bank transfers, SEPA transfers, and XFers transfers. Fully verified US users of Coinbase can buy up to 50, 000 dollars worth of Bitcoin per day. The daily limit is about 30,000 EUR per day for European customers. Coinbase also offers a USD wallet that allows users store US dollars. With this feature, users wanting to buy Bitcoin with fiat currency do not have to wait for the typically long time it takes for banks to process transactions.
This would also save users of Coinbase from Bitcoins susceptibility to slight and sometimes sudden price fluctuations. Users of the Coinbase wallet can access it on the web or with its application for Android and ios.
Next is Kraken. Kraken sets out to provide fiat currency exchange for as many cryptocurrencies as would prove reliable in the cryptocurrency exchange market. With this, Kraken has established a strong base in the cryptocurrency economy. Founded in 2011, San Fransisco based Kraken has grown to become the largest exchange for Bitcoin in Euro volume with High liquidity too. Supporting varieties of currencies like the Canadian dollars, US dollars, Japanese Yen and Great Britain Pounds, Kraken proves a better option when compared with other cryptocurrency platforms. Kraken also holds a record of the first Bitcoin exchange to have its trading volume listed on the Bloomberg Terminal. It partners with the first cryptocurrency bank and has received wide acclaim from the media, government and financial institutions alike.
The security of Kraken’s system is remarkable in the Bitcoin Economy. It is ranked No. 1 in encrypted cold storage and is the first Bitcoin exchange to pass the proof of reserve verification. Kraken has continued to launch into the most uncertain areas in the Bitcoin exchange—launching of new currencies. The latest among these is Monero in 2017. It has continued to expand its activities by acquiring companies like Clevercoin, Wallet funding service Glidera, Coinsetter, and Cavirtex. Kralen is always looking for ways to provide better exchange experience for its users. In July 2017 for example, Kraken notified its community of a possible hard fork in the Bitcoin blockchain and gave its terms and plans of action if in any case, such an event occur. The result of this foreseen event was the Bitcoin Cash—a split from the Bitcoin classic block in August 2017. Kraken provides a clear daily report that can help its users understand the activities in the cryptocurrency market at a glimpse.
To use Kraken, a sign up is needed providing the required details is needed and that’s all. We have looked at some of the good things. There are also some shortcomings too. For example, Kraken’s trade engine has suffered some setbacks. The result was an odd moment where people made some transactions that would be impossible in ordinary circumstances. These cases have however been looked into, as a lot of mishaps were minor and were sorted out after some time.
Another thing that is a bit bad to note about Kraken is its infrastructure. This challenge makes it difficult for transaction orders execute at once. Kraken has made efforts towards ending glitches, but results are yet to come true.
A lot of people using Bitcoin exchange platforms have been dissatisfied with the problems faced by Kraken. However, they are, left with no choice in the face of certain elusive features Kraken offers. If everything is in order, Kraken could easily become unequaled as a platform for the exchange of cryptocurrencies.
The third cryptocurrency exchange platform we would review is Cex.io. On its homepage, Cex.io is a place for everyone who just wants to buy and sell Bitcoins. Funds can be deposited using Visa, Mastercard or bank transfer, and Bitcoin can be instantly bought and sold at a fair price. It has more than 700,000 users across the globe and their feedback shows their complete satisfaction with the service. You would really like to know more about this platform. Cex.io uses an advanced order matching algorithm backed by the special trading engine. Its order book liquidity allows execution of high volume orders and application of market tradings. It uses high-frequency trading and scalping scheme. Maintaining compliance and security standards, Cex.io secures the assets and data of its customers. Cross-platform trading from websites, mobile applications, web socket etc. are also supported. Real-time balance and transaction history with transparent fees are provided. Swift order execution is also another feature of Cex.io. Orders are executed as fast as possible with the possibility of multiple transactions.
With Cex.io, users can buy and sell Bitcoin directly to their credit or debit cards with affordable fees of about 3.5%.
Three categories of accounts are available on Cex.io. The basic account allows users to buy users to up to $400 worth of Bitcoin per day and $2,000 worth of Bitcoin per month. Users of the basic plan are not eligible to purchase via bank transfer.
The verified account allows users purchase a maximum of $10,000 worth of Bitcoin per day and $100,000 per month using the credit card and Bank transfer option. The Individuals business and corporate account users can purchase an unlimited amount of Bitcoins at any time without restrictions.
Cex.io is registered ICO in the UK and FinCEN in the U. The platform is continually working to add new coins to its exchange offers.
I’m sure you have something in mind now when it comes to choosing the best cryptocurrency platform. The ones reviewed here are some of the best out there. So you don’t need to try out just any website since you know some of the best.