Crypto Exchanges

Our Crypto Exchange Reviews

In our crypto exchange reviews, we highlight the best and worst features of crypto exchanges. Our goal is to simplify the hunt for a high quality crypto exchange. Our reviews will give you a good feeling for each platform, helping your select the best fit.

Each crypto exchange review, is detailed and in depth, but simple enough to scan if you’re short on time. We provide a quick summary along with a quick info box that should give you a good sense of the crypto exchange. Beyond the abbreviated parts, our detailed sections provide simple guidelines on how to sign up, and how to buy bitcoin or buy cryptocurrencies like altcoins or stablecoins.

We put a lot of effort into making sure that what you read, matches the on-boarding experience you will have upon signing up, for example. Further to that, we also list all deposit methods – and jump into the details behind the fees, so there are no surprises. Finally, we give you a glimpse of the trading platform.

What we look for in our Crypto Exchange Reviews

In our crypto exchange reviews, we look for platforms and exchange providers we can trust. We are really sensitive to non-transparent exchanges who might hide behind fancy marketing and gimmicks. We lift the bonnet and get right in there. 

What are Crypto Exchanges

Crypto exchanges are are the forefront of the cryptocurrency and blockchain industry, with millions of retail customers and professional traders and investors, now using platforms such as Coinbase and Binance. In essence, crypto exchanges work in a very similar way to a traditional stock exchange – with instant orders to buy and sell a diverse range of digital assets. Crypto exchanges vary in their simplicity, from novice to pro, with an excellent range of options, whatever your current level.

Definition: A crypto exchange is a digital marketplace, enabling the trading (buy and sell) of cryptocurrencies using fiat and / or digital currencies. Crypto exchanges also enable you to stake coins and participate in a range of investment pools.

Key Points

• Crypto currency exchanges are an online platforms that operates as an intermediary between buyers and sellers of digital assets, like BTC and ETH.
• Technically, using crypto terminology, sellers are the market “makers” and buyers are the “takers.”
• A bitcoin exchange runs like a brokerage. You can deposit funds via bank transfer, wire, card and some e-wallets.
• You can trade (convert) between cryptocurrencies, with exchanges charging you a commission fee.

How Crypto Exchanges Work

To use crypto exchanges and transact in Bitcoin or other digital coins, you need to register with your selected exchange(s) and then perform the required verification process. Depending on the exchange you choose, the process of identity authentication can vary from basic to advanced. For instance, Coinbase typically has a simple verification process, while Binance requires facial recognition via your iPhone, to raise limits beyond a standard level.

• To make bitcoin or cryptocurrency transactions on an exchange, a user has to register.
• To gain full functionality to a crypto exchange, a user must complete the exchange’s verification & authentication ID process.
• Following basic authentication, users needs to fund their accounts to starting trading crypto.
• Exchanges offer a diverse range of payment options but always check for preferences.
• Exchange funds can be withdrawn via a wide range of banking methods.

Signing up to a Crypto Exchange

Signing up to an exchange always requires a certain level of patience, signing up to legitimate crypto exchanges are no different. Exchanges fall under national, European, and international securities and trading law, which although not completely the same, typically all require a certain level of KYC (know your customers) process before opening your account. 

This means that once you add your general personal information like your name and email, most companies will ask you to provide your phone number and a physical address. You might be wondering why they need this at all since the services are completely online, but crypto exchanges require this info to validate who you are. It is at this point that they will kick off their KYC process and ask your to present a passport or ID, and another formal document to prove your address. 

KYC is handled differently by different companies, some digitalise it completely and we must say that this is the quickest and least painful to you as a user. Digital onboarding would include sending a photo of your documents or taking a selfie with your ID and Passport for example. In some instances you will be asked to email documents in, this is a bit painful to be honest. 

The reason this is so important and why we share details about ‘signing up’ to a crypto exchange is because we want you to be prepared.

We would stress two things at this point:

1. If an exchange is NOT asking you for certain details, check the bottom of their site for their licence. They might be an unlicensed exchange and in this case, we suggest you stay away from it.
2. Onboarding and validation of your documents can take 2 minutes to 2 days, we usually mention this in our reviews to help you save time and make the quicker easier choice.