The cryptocurrency exchange space has evolved a ton since last year. There are so many new exchanges popping up every month it can become overwhelming to keep up with. Many of these exchanges have terrible liquidity, awful trading platforms, and take months to process your deposits and withdrawals. Some are outright scams that will take your money and run with it. You need to know the best cryptocurrency exchanges to trade on to make serious money trading cryptocurrencies. Here are the best cryptocurrency exchanges to trade on in 2018:
GDAX is the best exchange for trading Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. GDAX is hooked up to Coinbase, which you need an account with in order to use. The exchange is available worldwide, and they accept deposits and withdrawals in fiat currency. GDAX has the best exchange in terms of liquidity to trade these four cryptocurrencies. This means that you will usually get very little slippage when you are entering and exiting your positions, and the spread is usually pretty tight. Trading fees range from 1.49%-3.99%. If you add liquidity, which is when you sit on the bid or offer and wait to get filled, you don’t pay any trade commissions. They have a superb trading platform as well. The only downside is its’ small collection of coins to trade. You can sign up for an account here.
Binance is by far my favorite exchange to trade altcoins. The exchange is available worldwide, and they have a huge selection of altcoins. Pretty much every altcoin you can think of is available to trade on this exchange. It has some of the lowest trading fees around, with a trading fee of only .1% per trade execution. They have amazing trade execution speeds and a great trading platform. Their stop losses actually work, which takes a lot of the stress out of trading volatile altcoins. They also have a great mobile app so you don’t need to be chained to a computer while you’re trading cryptocurrencies as well. Its main downside is that it doesn’t accept fiat deposits and withdrawals. We recommend depositing coins from a Coinbase account to fund it. You can open an account here with this link.
Kraken is one of my favorite exchanges at the moment because it allows you to short cryptocurrencies. For a while, there were a plethora of issues with its trading platform and its executions, but they seem to have been resolved recently. We have been shorting Ethereum a lot the past week with Kraken in our cryptocurrency trading chat room. The platform now has executions that actually go through, and the exchange is available worldwide, and they accept fiat deposits and withdrawals. They have a good selection of altcoins, although not as many as Binance. Their trading fees vary from .1%-.26%. This exchange is one of the best cryptocurrency exchanges for international traders. You can sign up for an account here.
New Exchanges To Watch In 2018
Now that we have looked at the best cryptocurrency exchanges I currently trade on, let’s look at some new exchanges that will be coming out later this year. These are some of the best cryptocurrency exchanges to check out later this year when they enter the space:
Upcoin is a much needed reliable, new exchange set to enter the space. The exchange is set to launch on March 1st, 2018. They’re currently in the beta testing phase, as they prepare their platform for their clients that is safe to trade. They are planning on accepting fiat deposits and withdrawals, and they are looking to have over 1000 crypto pairs available to trade. Upcoin is looking to have trading fees of around .2%, and greatly improve the execution speeds of other crypto exchanges. They will have a high-quality trading platform that will have all the features of a typical US stockbroker platform (limit and stop orders, level 2, ect). If they can deliver on their promises, they could become one of the best cryptocurrency exchanges in the space. You can sign up for an account here.
Robinhood has recently launched a cryptocurrency exchange where you can trade Bitcoin and Ethereum. They are following the model of their stock trading app, continuing their tradition of having no trade commissions. Right now their crypto exchange is only available in 5 states in the US: California, Massachusetts, Missouri, Montana and New Hampshire, with plans to expand to more states. You can learn more about their new exchange and their plans to expand here.