Bitcoin (BTC) is a digital currency widely known as cryptocurrency. It is used for online purchases and transactions across the globe. It can also be converted on almost all local currency exchange rates.
Digital currency exchange/s (DCEs) or bitcoin exchange (BTC exchange) refers to a digital business that allows customers to trade digital currencies in exchange for assets. These assets include conventional fiat money or different digital currency. The creators of digital currencies are the number one individuals who solely rely on the bitcoin exchange rate that does the trade.
Furthermore, an instant bitcoin exchange allows users to buy, sell, and trade BTCs in just a matter of seconds with low to no transaction fee. The bitcoin exchange rate works by using the positive BTCs in exchange to sell BTC for a normal currency. On the other end, the buyer deposits the chosen normal currency with the bitcoin exchange rate then uses the balance to buy BTCs from other sellers.
Simply put, a bitcoin exchange platform is just like an automated teller machine (ATM). If you are looking for the best bitcoin exchange rate, then such thing does not exist. There are only major bitcoin exchanges and preferred exchanges that cater the user’s needs and taste.
Top 5 best bitcoin exchange rate platforms
Speaking of the bitcoin exchange rate, you must know the place where you will make the best out of your BTC exchanges. With that being said, enlisted below are the top 5 best bitcoin exchange rate platforms you need to visit now.
Etoro offers great options for exchanging and trading bitcoin as they ensure the safety and security of the users. Not only that, Etoro offers free $100,00 for every new exchanger in the Demo account. This is so they can practice the tricks of the bitcoin trade and start investing later on.
This platform is also available on mobile devices and can be accessed through the mobile web browser. Download the app via Apple Store and Google play. Aside from the bitcoin exchange rate, etoro also offer exchange for other cryptocurrencies such as Ethereum, Litecoin, and Dash.
Markets.com is managed by CySEC and FSB. This bitcoin exchange rate platform offers hassle – free trading of over 2,000++ exchanging assets. Indices, bitcoin trade shares, currency and commodity contract for difference (CFD) with absolutely 0% commission and fees.
Aside from the bitcoin exchange rate, Markets.com also offer exchange for other cryptocurrencies such as ethereum, litecoin, and dash. Markets.com has a mobile app which can be downloaded via Google Play and App Store.
WhaleClub is a bitcoin exchange rate platform based in Hong Kong. This platform allows bitcoin users to exchange the financial marketplaces by using digital currencies.
Aside from the bitcoin exchange rate, WhaleClub also offer exchange for other cryptocurrencies such as ethereum and dash. WhaleClub can be accessed via your mobile phone’s web browser by visiting m.whaleclub.co and you are good to go.
HitBTC is a global bitcoin exchange rate platform that provides a multi – currency support running since 2013. As a matter of fact, it claims to be the most advanced bitcoin exchange rate platform online.
Aside from exchanging cryptocurrencies, HitBTC also exchange tokens, proper marketplaces for fiat trading, initial coin offerings (ICOs), US Dollars and Euro exchange rate pairs.
Aside from the bitcoin exchange rate, HitBTC also offer exchange for other digital currencies such as ethereum and litecoin.
Cex.io is a bitcoin exchange rate that provides the very first cloud mining service. This platform has a multi – functional cryptocurrency exchange. With that being said, Cex.io offers cross – platform exchanging via the desktop website and web browser.
Cex.io has a mobile app which can be downloaded via Google Play and App Store.
7 Factors of a good bitcoin exchange rate platform
When researching for a good bitcoin (BTC) exchange platform online, you have to consider the following factors that separate a good exchange rate from the bad ones. This is so you can have a hassle – free transaction when exchanging bitcoins (BTCs). Also, this is so you can make use of your BTCs and reap off its benefits without thinking about the safety of your stored cryptocurrency and being worry – free about your identity.
Keep in mind to look for the following factors of a good bitcoin exchange platform:
Did you know that bitcoin exchange platforms also face hacking attempts every single day? this does not exclude the world’s leading exchange platforms. So, you must first and foremost go for a bitcoin exchange platform that has a strong security and a few histories of leaks.
Treat the bitcoin exchange rate as your normal savings bank account. With that being said, you must only be the person who handles and manages your bitcoin account. As for a normal ATM, you must also be the only person who knows the PIN or password of your bitcoin exchange account. You will never know who will attempt to steal your bitcoins.
100% privacy is one of the best factors when it comes to exchanging bitcoins. Unfortunately, not all bitcoin exchange rates provide privacy. Go for a BTC exchange platform with privacy where you (bitcoin user) will be absolutely anonymous in whatever payment method you choose.
If you do not want your transaction to be tracked, go for an exchange platform that uses cash/cash deposit exchange as a mode of payment. Do not go for a bitcoin exchange rate platform that allows you to input any additional personal information about you, such that which accepts credit and debit card as a mode of payment.
Unlimited bitcoin purchase
Unfortunately, majority of bitcoin exchange rate platforms offer limited BTC purchase. Go for platforms that offer unlimited purchase. If you are dealing with an individual bitcoin seller, check first if he offers lower limits than the present bitcoin exchange rate.
Liquidation in the bitcoin exchange platform refers to an event that usually happens when the bitcoin exchange rate is in debt. Needless to say, the bitcoin economy cannot fulfill its obligations when in due. The operations is affected and the assets are divided up among the buyers and sellers.
Different bitcoin exchanges rate platforms give users access to their local currency at different speeds. Therefore, the fastest way to get bitcoins is via the bitcoin ATM. But as for users who do not want to use the bitcoin ATM, you can always go for bitcoin brokers that offer instant BTC buys via bank transfer, debit card, and credit card.
Fair bitcoin exchange rate
There is no official bitcoin exchange rate that would convert to any normal local currency. Instead, the bitcoin exchange rate is based on the BTC price of all currency exchanges. Having said that, make sure that your chosen exchange platform has a fair exchange rate based on the chosen current currency price.
Find a bitcoin exchange platform that has a good reputation to the buyers, sellers, traders, and exchangers. Find a BTC exchange platform that offers low rates and have a good customer feedback. Stick to the well – known bitcoin exchanges that have already established a good reputation to BTC users through the years.
Go for a bitcoin exchange rate platform that does not only value bitcoin but its users as well. After all, the bitcoin economy will not have a whopping value today if not for the people who trust and risk on it.
Low to no fees
Go for bitcoin exchanges that have low to no fees. Such fees include bank transfer fee, withdrawal fee, deposit fee, transaction fees you name it. There are bitcoin exchange rate platforms that reduce or better yet, eliminate fees if you are the type of user who trades a lot of bitcoins.