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What Are Best Exchanges To Buy Cryptos In 2020?

A cryptocurrency is a digital form of currency that makes it easy to buy and sell goods and services for the gain of profit. But unlike other forms of currencies, it uses cryptography to solve problems. Cryptography or cryptology is a technique to communicate securely in the presence of advertisers. Internet is used to trade through cryptocurrency. It is a modern form of currency and gaining popularity all over the world. In this article, you’re going to find best exchanges to buy cryptos. We are giving you the pros and cons of the exchanges. All these exchanges are trustworthy and safe.

Best exchanges to buy cryptos:

There are two types of exchanges for buying cryptos. Fiat exchange means to convert the government-backed currencies to cryptocurrency. Crypto to crypto exchange means cryptos are traded with each other. The following are provided the best cryptocurrency exchanges.

Here is the best exchange to buy cryptos.

1. Coinbase:

It is based in California, San Francisco. Many people who are new in this business of crypto prefer Coinbase because it is very simple to understand and user-friendly for beginners. Coinbasehas a very simple and beautiful interface. People say is easy to deal with Coinbase than dealing with crypto holders. They will charge 1.49% on bank purchases. Credit and debit purchases are charged at 3.99%.

Pros:

  • Lowest brokerage rates
  • Beginners-friendly
  • Direct conversion of currency into crypto
  • Simple payment methods

Cons: The vault feature is skeptical to some customers

2. Coinmam:                   

It is also helpful for beginners and simple to use. Coinmama delivers cryptocurrencies to users’ wallets instead of providing its own wallet. Having their own wallet is beneficial for users. Its fees are a little higher than the Coinbase. It charges 5% on debit and credit card purchases. It mostly prefers debit and credit card purchases. Some people may find it costly.

Pros:

  • Helpful for beginners
  • Simple purchases
  • Customers’ Own wallet

Cons:

  • Prefers debit and credit card purchases
  • Higher rates

3. Bitpanda:

Bitpanda has also a very simple user interface. It is very versatile in the case of purchasing crypto and also have many payment methods. You will find more and easy methods of payment. It sells different types of cryptos. Its rates of selling and buying are also reasonable. It is charging 1.49% on buying and 1.29% on selling cryptos.

Pros:

  • Affordable rates
  • Versatile payment methods
  • Beginners-friendly
  • The large variety of coins to purchase

Cons:

Higher transaction fees compared to competitors

4. Cex.io:

Cex.io is based in London but also works in other countries. It is a very versatile business platform with a variety of cryptocurrencies to buy. They provide a cross trading platform. Cex.io has higher liquidity than other exchanges. The fees for cex.io are very low. They charge only a premium on the price of bitcoins. It was a long time ago but have no problems now. It is suitable for those who want to purchase a variety of cryptocurrencies.

Pros:

  • Lower fees
  • Variety of cryptocurrencies is offered to buy
  • It supports many payment methods

Cons:

  • Not easy to use
  • Beginners feel it embarrassing to operate.

5. Kraken:

Kraken is introduced by America. It is also very popular amongst the people dealing with cryptocurrency. Many people have used it for years and consider it one of the best exchanges to buy cryptos. Fee rates are considerable for dealers. They charge up to 16% max when you are the maker. In the case of the taker, they charge up to form 26% to 1%. You can use the government-backed currency for payment. They also accept any type of cryptocurrency in exchange.

Pros:

  • Margin trading option with 5x leverage
  • Cryptocurrency can be deposited instead of other currencies
  • Lower fees rate

Cons:

  • Dealers may face complexities in dealing

6. LocalBitcoins:

LocalBitcoins are the best peer to peer cryptocurrency exchanges. They are very trustworthy and most simple to deal with. Users can publish buy and sell ads quickly with the help of exchange. People deal amongst themselves which makes it more trustworthy. You don’t need to link any identity with exchange to deal with other users.

Pros:

  • Cash purchases are available
  • You can protect your privacy
  • Quick ad facility

Cons:

  • Only suitable for bitcoins

7. Bitstamp:

It is present in Europe but also works in the United States. Bitstamp is the most reliable exchange because it is the oldest cryptocurrency exchange. It provides a variety of cryptocurrency to buy. They have high security to encrypt your personal information. The assets are locked in cold storage for up to 98%. Its fees are affordable in many countries besides Europe and the United States.

Pros:

  • Variety of cryptocurrency is available
  • Lower fees rates
  • High liquidity

Cons:

  • Slow verification

8. Gemini:

Gemini is resent in New York. It is highly secured and offers many types of cryptocurrencies to buy and sell. They charge 1.49% to buy and selling order is accepted $200 at minimum. Gemini is very simple to use and deal with.

Pros:

  • It is a very secure system of exchanges
  • Lower rates
  • Variety of cryptos available

Cons:

  • A limited choice of funding methods

9. Binance:

It is a new exchange. It is introduced by Hong Kong and works in many countries. SAFU was introduced by Binance. It reserves 10% of the total earning of exchange to provide compensation. Binance also has many other features that attract customers. Users can save by a lot by their own coin called Binance coin.

Pros:

  • New and has many new features
  • SAFU is present to compensate for the loss in case of hacking

Cons:

  • It is new and not suitable for beginners

10. Bitfinex:

It is situated in Hong Kong. It does not allow USA users to trade. They cannot sign up for Bitfinex. They are limited to a few countries. It has very low rates for takers and makers. It charges only 0.1% to makers and 0.2% to takers.

Pros:

  • It has lower fees rates
  • Simple to use

Cons:

  • Limited scope
  • Do not work in the USA

Conclusion – Best exchanges to buy cryptos:

The perfection of anything depends upon the needs and requirements of users. One platform may not bet the best exchange to buy cryptos for every single person. There are great differences among rates and variety of cryptocurrencies available. Other features like payment of method and options of allowed government-backed currencies also vary. Another difference is the type of trade a user wants to do. If he wants to exchange cryptocurrency for cryptocurrency, ha has to select an exchange that allows crypto to crypto exchanges. If a person wants to buy crypto by using a debit card, credit card, bank wire, etc. he has to select the exchange which allows fiat exchanges. Coinbase is the most popular fiat exchange. If you’re interested in buying crypto with a credit card then you can check out this guide.

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