Best Bitcoin Exchanges for Beginners – 2024 List

This refers to a pure fiat-to-bitcoin exchange platform that allows for the conversion of conventional currency into digital currencies and vice versa.

They stand out in the industry for their support of fiat currency deposits in the form of bank wire transfers or debit and credit card deposits.

Some will also accept cheque and cash deposits from online money processing companies like PayPal, Skrill, and Sofort.

These refer to multi-asset trading platforms that allow you to speculate on the price of bitcoin through the digital currency’s CFDs.

When trading bitcoin CFDs, you don’t get to own the coins you buy, rather, you enter into a contractual agreement with a brokerage firm and bet for or against bitcoin’s price action.

Additionally, deposits and withdrawals in and out of the CFD brokerage are in the form of cash, effectively negating the need for a bitcoin wallet. There are also automatic trading tools such as the bitcoin trader software and Bitcoin Revolution, a huge variety of market analysis tools, and some brokers support social/copy trading.

Cryptocurrency-to-cryptocurrency (C2C) exchanges refer to bitcoin investment and trading platforms that will only support exchanges between two digital currencies.

For instance, if you needed to acquire bitcoin on the platform, you will need to be in possession of yet another digital currency like Ripple, Ethereum, or Litecoin.

If you only have fiat currency – USD, EUR, or GBP – you will want to first convert them into one form of a digital coin at a fiat exchange before transferring them here.

Established in 2012, this is one of the oldest crypto exchanges and you can buy cryptocurrencies with Paypal on their platform with ease.

It offers a simple account creation process and only requires an email address. However, fees are relatively high, with a 20% premium above Bitcoin exchange rates and an additional 1% fee charged by the site.

Paxful is a peer-to-peer bitcoin exchange platform that launched in 2015 and has been offering offering zero-fee services to its global client base. Users can buy coins with Paypal without registering on the site, however, seller control their own rates, which can be relatively high in addition to the site’s 1% fee and bitcoin blockchain fees.

There is also a risk of falling prey to scammers since the site is peer-to-peer.

VirWox is a crypto exchange which does not require user verification making it ideal for anonymous users. It does not charge any fees for using My Virtual Community PayPal Terminal.

But bear in mind that you cannot buy using PayPal directly. Rather, you first have to convert your PayPal funds to Linden Dollars and then use them to buy Bitcoins.

The conversion process from fiat to SLL to BTC increases the cost of buying Bitcoin. Funds are made available after two hours when using My Virtual Community PayPal Terminal.

There also are limits imposed for using PayPal to buy BTC based on the number of active days from registration time

Formerly known as E-Coin, Wirex is a hybrid platform offering a simple and user-friendly site and charges competitive fees for PayPal-bitcoin exchanges.

Its services are, however, not available to US citizens and residents .

Founded in 2014, BitPanda is among the top names in the crypto market. It specializes in Bitcoin exchange throughout the Eurozone region and supports multiple payment options including SEPA transfer and credit cards.

Changelly is a unique exchange in that it provides one of the easiest ways to switch between cryptocurrencies. It processes bitcoin purchases via a credit card and charges a flat fee of 0.5%.

It integrates with Simplex for credit card purchases and offers the service  lists 140+ cryptocurrencies

Luno, a bitcoin exchange headquartered in London, accepts a wide range of fiat currencies and numerous payment methods including debit and credit cards. It has an unclear fee structure and charges a premium for instant purchases.

24Option is a full-feature exchange platform that operates out of Cyprus and Belize. It supports plenty of assets, including cryptocurrencies and offers numerous deposit options including credit cards.

Based in London and with 30+ years of experience in the money markets, City Index is a global powerhouse. It supports numerous payment options including credit cards and multiple trading platforms.

Coinbase is one of the most popular platforms for buying Bitcoin in the US. Coinbase is a broker dealer (crypto traders make purchases directly from the site and not from other users)

It offers multiple payment options, high buying limits, and high liquidity. If you need Bitcoin urgently, you can use Instant Buy, which supports credit card purchases.

Binance, currently the world’s largest crypto exchange by trading volume, offers a wide array of coins for users in the US and beyond.

It supports withdrawals of up to 2 BTC without verification and has high liquidity thanks to its high trading volume.

However, the exchange is expected to stop offering crypto exchange services to the US market starting in September 2022. However, non-verified users can still access services using a VPN

Coinmama is a reliable and popular exchange that allows you to invest in Bitcoin in the US. It offers one of the highest limits for Bitcoin purchases using credit card.

One of the oldest crypto exchanges, CEX.io is also available to US traders. It offers a wide range of user accounts with varying transaction limits and other features and reliable customer support.

However it has an extensive verification process and is registered in only 24 US states. It also has relatively high fees

New York-based Bitcoin exchange, Gemini has been operational since 2015 and is available to US traders in 45 states. It is fully regulated and compliant and thus offers high security and efficiency.

It also boasts of a strong customer support and relatively low trading fees.

A subsidiary of Binance, a world-leading crypto exchange, Binance Jersey is a regulated crypto platform available for UK customers.

It was launched in January 2020 and operates under the Jersey Financial Services Commission. It supports trading of Bitcoin with EUR and GBP.

On this peer-to-peer marketplace, UK Bitcoin users can make purchases and sell online. It is an easy to use platform and it is possible to buy crypto using local UK bank transfer.

Users can access a limited amount of Bitcoin without identity verification. However, there are premium rates, at times going as high as 10% above market rates.

Coinfloor claims to be the “UK’s no. 1 Bitcoin exchange.” It has been around since 2012 and has its headquarters in London.

It has a mobile trading app offering convenience and offers cold storage services for its clients. It also maintains a high minimum deposit and charges deposit and withdrawal fees.

Bitcoin users in the UK can use a variety of payment methods to buy BTC instantly through Bittylicious, a peer-to-peer network which matches Bitcoin buyers and sellers.

It has one of the simplest user interfaces, designed to resemble an order form and it does not require identity verification as it is not regulated.

However, it only supports credit card payments and SEPA transfers and there is no trading platform. There is also a lack of clarity on pricing as it charges fee directly from the day’s exchange rate

As one of the largest Bitcoin marketplaces in Europe, Bitcoin.de, has a lot to offer. It is available to UK customers and counts with over 800,000 users providing high liquidity. It is a safe platform with regular audits and the sign up process is simple. On the other hand, it only supports SEPA payments and has relatively high fees.

Bitbuy, one of the most popular Canadian crypto exchanges, has been around since 2013. It rebranded from InstaBT to BitBuy in 2016 and seeks to deliver value.

It has a sleek interface and a lot of resources for beginners as well as robust features for advanced users. Its lightning-fast turnaround times and minimal crypto hold times are also a big plus.

However, it does not have advanced trading features and it does not support margin trading

Originally based in San Francisco, California, Kraken serves the Canadian market out of an office in Halifax. Users can fund their accounts in Canadian dollars and it offers margin trading.

It is particularly good for volume traders who can enjoy good discounts. However it has limited options for account funding and few trading pairs.

Launched in 2018, Coinfield is one of the latest entrants in the Canadian cryptocurrency space. It offers a great variety of cryptocurrencies to trade with, including Stellar and Bitcoin Cash.

It has a great reputation and a fantastic platform for professional traders. It also supports a variety of funding options including credit card and wire transfer and is easy to use.

Coinfield, however, does not offer margin trading and has pretty low liquidity. Withdrawal fees are also quite high on this bitcoin exchange.

Based in Canada, this crypto exchange supports multiple funding and withdrawal options and has a strong security using a framework similar to the New York Stock Exchange as well as competitive fees

Founded in 2016, Quebex is a Canadian peer-to-peer crypto exchange platform where you can buy and sell Bitcoins.

It is easy to use, offers a straightforward and transparent fee structure, and supports a variety of local payment options including PayPal.

It is registered with two major Canadian regulators and thus reliable but does not offer leveraged trading.