You probably have a pretty good idea of just how popular script of current he became in the past two, three, or maybe four years. What was once seen just as a simple gimmick and something that will not become a reality is now easily worth over $10,000. I am specifically talking about Bitcoins. At one moment in 2018, it was even worth more than $20,000. Many people make some serious money out of this by using the right cryptocurrency exchange sites.
Unfortunately, in 2018 and the year after that, the entire market had a crash, and the value of almost every corner drop considerably.
However, one year later, it seems like this market is making a comeback better than ever. Now, people finally have the option to make a profit out of this industry. But, as it was before, it is today. Making a profit out of cryptocurrency is not a simple as just buying a coin and then selling it when it has a bigger value. It is much more complicated than that.
Although I imagine that you are not here to learn about how this entire industry works, you are more interested in finding out about the most popular and the best cryptocurrency exchange websites for trading Bitcoins in 2020. Fortunately for you, this article will focus on exactly that subject.
During the peak of this industry, Binance was probably one of the most successful websites that handled the trading of different cryptocurrencies, including Bitcoin. Today, I think it is safe to say that this website is still probably rated in the top five which is the reason why I decided that it deserves to be on this list.
Since 2018, Binance has kept on growing despite the problems that occurred on the market. Right now, this website allows users to trade over 100 different currencies with affordable fees. So, if you want to trade daily with a variety of coins, this might be the site that you are looking for. It is also a good option if you plan on making trades in big volumes.
The fees are pretty straightforward on Binance. There are no extra or hidden expenses. What is even more interesting is the fact that you can reduce the trade fees for your account. As your VIP level increases (by trading larger volumes in 30 days), the fees for your account can drop considerably.
Coinbase is a digital currency exchange that has been around for eight years. It is then, this website has accumulated over 10 million users, and for good reason. It is a reliable place where you can store, buy, or sell Bitcoins.
The advantage of using Coinbase is the fact that you have a variety of alternative points that you can choose to trade with. You are not just limited to Bitcoin which is always a great plus. If you do not have any kind of experience with making trades online, you will be glad that Coinbase has a fairly simple user interface that will help you understand how all of this works.
I think it is also worth mentioning that cashing out from this site is also pretty simple and quick. There is no need to wait several days for your money to reach your bank account. The entire transaction can take just a couple of minutes.
The only disadvantage of this website is the fact that their support is not exactly perfect. Personally, I think that proper customer support is essential, considering that most of the users are risking their own money. Before you jump onto this site and make an account, bitcompare.net suggests that you read an in-depth review before you make that kind of decision. Once you do your research, you can decide whether you have picked the right exchange site or not.
Another very popular option for cryptocurrency traders is Bittrex. At first, this site was not very popular because it was limited to US residents, but today, there is also a Europe based site that allows for the registration of residence outside of the US.
Right now, Bittrex handles over 190 different currencies and has a trading volume of over 60 million which means that you can cash in or cash out at any time. With so many different coins you can trade with, you can easily make your profits and then put that money in your bank account. I think this is a very good alternative for a lot of inexperienced traders.
However, even if you do have some experience in this market, Bittrex is still quite a good option.
One of the biggest problems I have with most of these websites is the fact that it is very difficult to purchase Bitcoin or any other kind of digital currency. The entire payment process is long and very frustrating. You first need to send your cash to PayPal then you have to verify your account and do dozens of other things and only then will you be able to purchase some Bitcoins for your wallet.
Well, simples is here to make things a lot simpler. You can directly pay for Bitcoins with your own debit or credit card. The payment process is also quite fast and it will not bother you with unnecessary information. And even though this entire process is faster, it is still very secure and reliable.
However, with these kinds of advantages, you know that there will be some disadvantages. The main problem I see with Simplex is the fact that it supports only a small amount of currencies and that it has very high fees when trading with certain coins. Although, if you do not mind paying for those extra fees then go right ahead and make an account on Simplex. On this website, you will be able to start training in a matter of a few minutes.
There are probably dozens of other cryptocurrency exchanges on the Internet, but I believe that the 4 I mentioned are probably the best ones.