Bitcoin is the most successful digital currency so far, but it is not the only one.
Other cryptocurrencies out there include Litecoin, Dogecoin, Peercoin, Blackcoin and Namecoins. Some of them are already quite popular and others are still new.
This blog will talk about the best cryptocurrency exchange sites to trade bitcoins and other coins.
I provide an in-depth review of the top 5 exchanges along with step by step instructions on how to get started on each site and how to deposit funds. In this article I also provide a brief overview of other leading websites that offer bitcoin trading such as Bitfinex, Kraken, Poloniex and Coinbase.
If you want to learn more about bitcoin trading I would recommend reading my ebook Bitcoin Trading Guide: The Ultimate Guide To Bitcoin Trading .
This is a blog about cryptocurrency exchanges. These are websites where you can buy and sell cryptocurrencies, such as Bitcoin, Ethereum, Litecoin and Monero.
There are a lot of different exchanges, so to help you decide which one to use I’ll introduce you to some of the main ones.
You should also be aware that these exchanges have their own risks. Sometimes they will be hacked (most recently Mt. Gox). Sometimes they may close down when the price of bitcoin tanks (e.g. BTC-e). And sometimes they will get caught up in government regulation (Bitfinex).
I’m not going to talk about these problems here: I want to focus on the positive sides of trading cryptocurrency.
Cryptocurrencies and the blockchain are not new. Cryptocurrencies have been around for almost as long as there has been a web. But only in the past few years has it become clear that cryptocurrencies could be used to make transactions without involving third parties.
The most common form of cryptocurrency is “Bitcoin”, which uses a novel kind of cryptography to keep track of who owns what. Bitcoin is not the first cryptocurrency, but it is the best known and most popular, though it is far from easy to use. And it is currently very unstable and subject to wild price swings.
In the past few years, Bitcoin has become the most popular cryptocurrency. People are starting to understand it. But there is still a lot of confusion and misinformation.
This blog is an attempt to clear up some of that confusion and to provide some basic information about using cryptocurrency exchanges. I’ll be updating this blog with more detailed information as time goes on.
I’m also interested in writing about other cryptocurrencies, but for now my primary focus is on Bitcoin.
The best Bitcoin exchange is the one that has the most liquidity and the lowest spreads. I haven’t yet found a good exchange with low spreads. On my to-do list:
1. Find an exchange where the price is displayed in USD (or whatever currency you want to trade in) and there are no slippage fees.
2. Make sure there is some way of buying bitcoins with cash without taking a bank hit.
3. Make sure that if you log out, your account balances don’t get wiped out when the exchange shuts down or goes bankrupt.
4. Make sure it’s reliable: try to find out whether it’s been hacked before, whether it has started getting into trouble with its banking partners, whether its employees have been arrested for fraud, whether there have been any lawsuits against it over bad security, etc.
Bitcoin is the most famous cryptocurrency, and for good reason. It was the first, and there’s a good chance it will be the last; as of this writing it is worth over $10k. But there are many other cryptocurrencies, and they are all better in some ways than Bitcoin.
The Bitcoin Core developers have made their work open-source, which means anyone can study it. There are hundreds of forks, modifications and offshoots of Bitcoin that arose after it was launched in 2009. This is a sign of vitality–a signal that Bitcoin isn’t going to go away any time soon.
There are also many different cryptocurrencies that function differently from Bitcoin–for example, with different blockchains or no blockchain at all. The best place to find out what these alternatives are is on CryptoCompare , where you can compare them side by side on a chart and read detailed descriptions of each one.
I’ve been trying to tell the story of Bitcoin for years, and I’m still not completely happy with the story. It’s a bit dry, and too much of it is about how technical it is. But one thing that hasn’t changed is the basic point: Bitcoin is a new kind of money.
Bitcoin was designed to work in the kind of world we have now. The world has changed a lot since 2009, and it doesn’t look like it’s going to change back anytime soon. We are living in what has been called “the second machine age,” when machines have become so powerful that they can do most things people used to do. And that’s pretty much what computers are good at today: they are good at crunching numbers fast, and at remembering lots of stuff.
When I wrote my article on why Bitcoin matters , I imagined most of my readers would be computer programmers or software developers; people who would want to use Bitcoin because it was better than PayPal or Visa as an online payment system. There are still some programmers like that, but almost none now use Bitcoin instead; since January 2014 there has been a net loss of 26,000 Bitcoin-related jobs in the United States .