If you are interested in buying and selling bitcoin, it is vital to use secure and reputable bitcoin exchanges to conduct your transactions. Currently, there are hundreds of bitcoin exchanges scattered across the globe with varying levels of security, user-friendliness, and transaction fees.
To help you find the right exchange for your needs, we have created a list of seven best bitcoin exchanges that you can use to buy and sell bitcoin today.
Best Bitcoin Exchanges
To compile our list of the best bitcoin exchanges, we have used criteria such as buyer transaction fees, number of payment methods, user reviews, and ease of use.
| Name | Description | Launch Year | Number of Payment Methods | Buyer Transaction Fee | User Reviews (TrustPilot) | Ease of Use | Score |
|---|---|---|---|---|---|---|---|
| Paxful | Delaware-based Paxful is a bitcoin exchange that was founded in 2015. Paxful functions in a similar way to LocalBitcoins in the sense that it provides a peer-to-peer exchange that allows users to buy bitcoin using a range of different payment methods including credit cards, PayPal, and gift cards. Paxful stands out because it offers over 300 different payment options that can be used to buy bitcoin, by far the most options offered by any of the exchanges on our list. | 2015 | 300+ | 0% | 4 | 4 | 4 |
| LocalBitcoins | The Finland-based bitcoin exchange LocalBitcoins is one of the most popular and most used bitcoin exchanges in the world. LocalBitcoins was founded in 2012 and provides a peer-to-peer trading platform that allows users from around the globe to exchange bitcoin for fiat currency with one another. LocalBitcoins has gained such popularity because it allows the exchange of bitcoin for a wide range of payment methods including Amazon gift cards, PayPal, MoneyGram, Western Union, mobile money, in-person cash transactions, and other methods as well. | 2012 | 25+ | 0% | 1 | 4 | 4 |
| Coinbase | San Francisco-based Coinbase is one of the most reputable bitcoin exchanges and wallet providers in the market. Coinbase was founded in 2012 and is a regulated bitcoin exchange that serves customers in 32 countries. On Coinbase, users can buy bitcoin as well as the digital currencies Ether and Litecoin using cash deposits, bank transfers, or credit cards. The platform is available both online and as a mobile app. | 2012 | 3 | 1.49% -3.99% | 1 | 5 | 3 |
| CoinMama | Virgin Islands-based bitcoin exchange CoinMama is another popular bitcoin exchange. The exchange was launched in 2013 with a focus on allowing users to purchase bitcoin using a credit card. Despite its comparatively high transaction fee, its easy-to-use service is particularly popular among newcomers who want to purchase bitcoin as conveniently as possible using their credit cards. The exchange also offers its users the ability to buy Ethereum's Ether. | 2013 | 1 | 8.45% | 4 | 5 | 3 |
| itBit | New York-based ItBit is a global bitcoin exchange that offers users the ability to buy and sell bitcoin through its trading platform aimed at professional traders. The bitcoin exchange was founded in 2013 and is licensed by the New York State Department of Financial Services. Trading accounts can be funded using wire transfers. ItBit also offers OTC trading for investors who want to buy or sell large amounts of bitcoin. | 2012 | 1 | 0.20% | n.a. | 4 | 3 |
| Binance | Binance is one of the newest but also most popular bitcoin exchanges. Launched in 2017, the exchange enables users across the globe to buy and sell bitcoin and a wide range of altcoins. Originally, Binance was a crypto-to-crypto-only exchange but has recently added fiat currency onramps to enable investors to buy bitcoin with EUR and GBP. Other major currencies are planned for the future. | 2017 | 1 | 0.10% | 2 | 4 | 3 |
| Gemini | Launched in 2015, Gemini is a US-based regulated digital asset exchange that enable users to buy and sell bitcoin against the USD. Gemini is a trusted bitcoin exchange that provides a high level of security and is primarily targeted at traders and investors who already have experience with trading online. | 2015 | 1 | 1.49% | 2 | 4 | 2.5 |
Depending on your location and preferred payment method, you should be able to find a bitcoin exchange that is right for you among the above-listed trading platform.
Moreover, if you are interested in converting your bitcoins into altcoins to diversify your portfolio, you should check out our guide to the best cryptocurrency exchanges in 2020.
Related Articles:
- How to Open a Bitcoin Wallet, Step by Step (With Photos)
- Bitcoin ETFs: What They Are and How to Invest (in 2020)
- How Many People Use Bitcoin in 2020?
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