top 25 cryptocurrency exchanges

Cryptocurrency exchanges have become an important onramp and offramp to the cryptocurrency world. From the infamous and now shuttered Mt. Gox to current industry leaders in volume such as Poloniex and Bittrex, cryptocurrency exchanges and altcoin exchanges are seeing increased use around the world. Every day, billions of dollars are traded back and forth over the top cryptocurrencies on these cryptocurrency exchanges. Traders, buyers, and sellers must trust these exchanges with their money, but are the exchanges really trustworthy? Unfortunately, not all cryptocurrency services are as secure or safe as you might think. In fact, some crypto exchanges have been known to be scams or vulnerable to hacking. This could lead to the loss of any cryptocurrency stored on there.

We take a look at the fees, history, and usability of the top cryptocurrency exchanges available in 2017. Whether you’re seeking to buy Bitcoin or other cryptocurrencies as an investment, to utilize margin trading, or anything else – Use this list of cryptocurrency exchanges to help choose an exchange for you.

1. Poloniex

poloniex cryptoName: Poloniex
Review
URL: https://www.poloniex.com
Total trading pairs: 101
Founded: 2013
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.10% – 0.25%
Margin trading: yes
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Requirements

Limits

Level 1 Email, First & Last Name, Country $2,000, USD Margin Trading Enabled
Level 2 Complete Address, Phone Number, Date of Birth 7,000 USD
Level 3 SSN, Scan of Photo ID, Selfie holding your ID $25,000 USD
Enhanced Verification Contact Support Greater than $25,000 USD

2. Bittrex

Namebittrex crypto: Bittrex
Review
URL: https://www.bittrex.com/
Total trading pairs: 271
Founded: 2014
Deposit fees: no
Withdrawal fees: yes
Trading fees: 0.25%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Basic 0.4 BTC
Enhanced 100 BTC

3. GDAX

gdax cryptoName: GDAX
Review
URL: https://www.gdax.com/
Total trading pairs: 9
Founded: 2016
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.25%
Margin trading: yes
USA accepted: yes
Review: BlockExplorer’s GDAX Review
Verification levels and withdrawal limits:

Verification Level

Limits

Verified Algorithmic

4. Kraken

kraken crpytoName: Kraken
Review
URL: https://www.kraken.com/
Total trading pairs: 59
Founded: 2011
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.36%
Margin trading: yes
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

 Individual w/o proof of source $25k USD daily
 Individual w/ proof of source $100k USD daily
 Corporate w/o proof of source $100k USD daily
 Corporate w/ proof of source $1m USD daily

5. Bitfinex

bitfinex cryptoName: Bitfinex
Review
URL: https://www.bitfinex.com
Total trading pairs: 56
Founded: 2012
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.04% – 0.20%
Margin trading: yes
USA accepted: no
Verification levels and withdrawal limits:

Verification Level

Limits

Individual No limit
Corporate No limit

6. Bitstamp

bitstamp cryptoName: Bitstamp
Review
URL: https://www.bitstamp.net
Total trading pairs: 11
Founded: 2011
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.05% – 0.25%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Verified No limit

7. WEX

wex cryptoName: Wex (formerly BTC-e)
Review
URL: https://wex.nz
Total trading pairs: 26
Founded: 2017
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.20%
Margin trading: no
USA accepted: no
Verification levels and withdrawal limits:

Verification Level

Limits

Regular 10k USD
VIP 100k USD

8. Coinone

coinone cryptoName: Coinone
Review
URL: https://coinone.co.kr
Total trading pairs: 7
Founded: 2015
Deposit fees: no
Withdrawal fees: yes
Trading fees: 0.00% – 0.15%
Margin trading: yes
USA accepted: no
Verification levels and withdrawal limits:

Verification Level

Requirements

Limits

Level 1 Email, Country 1,000 KRW
Level 2 Mobile phone authentication 500,000 KRW
Level 3 OTP registration 1,000,000 KRW
Level 4 Operation team review Greater than 100,000,000 KRW

9. Quione

quoine cryptoName: Quoine
Review
URL: https://www.quoine.com
Total trading pairs: 23
Founded: 2014
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.25%
Margin trading: yes
USA accepted: no
Verification levels and withdrawal limits:

Verification Level

Limits

Indvidual Daily: 30-50k USD; Monthly: 300-500k USD
Corporate Daily: 100-150k USD; Monthly: 1-1.5m USD

10. bithumb

bithumb cryptoName: bithumb
Review
URL: https://www.bithumb.com
Total trading pairs: 23
Founded: 2013
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.15%
Margin trading: yes
USA accepted: no
Verification levels and withdrawal limits:

Verification Level

Limits

Basic 3 BTC
Enhanced 100 BTC

11. HitBTC

hitbtc cryptoName: HitBTC
Review
URL: https://www.hitbtc.com
Total trading pairs: 327
Founded: 2013
Deposit fees: yes
Withdrawal fees: yes
Trading fees: 0.10% – 0.20%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Verified No limit

12. Gemini

gemini cryptoName: Gemini
Review
URL: https://www.gemini.com
Total trading pairs: 3
Founded: 2014
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.25%
Margin trading: no
USA accepted: yes
Verification levels and deposit/withdrawal limits:

Verification Level

Limits

Individual ACH Daily Deposit/Withdrawal: $500/$10,000; ACH Monthly Deposit/Withdrawal: $15,000/$100,000; Cryptocurrency: No Limit
Institutional ACH Daily Deposit/Withdrawal: $10,000/$10,000; ACH Monthly Deposit/Withdrawal: $300,000/$100,000; Cryptocurrency: No Limit

13. Korbit

korbit cryptoName: Korbit
Review
URL: https://www.korbit.co.kr
Total trading pairs: 5
Founded: 2013
Deposit fees: no
Withdrawal fees: yes
Trading fees: 0.00% – 0.20%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Requirements

Limits

Level 1 Phone number KRW: 0; Cryptocurrency: 5,000,000 KRW
Level 2 SMS verification KRW: 0; Cryptocurrency: 5,000,000 KRW
Level 3 Address and Bank account registration KRW: 30,000,000 KRW; Cryptocurrency: 5,000,000 KRW
Level 4 Approval process 300,000,000 KRW
Level 5 Approval Process 500,000,000 KRW

14. bitFlyer

bitflyer cryptoName: bitFlyer
Review
URL: https://www.bitflyer.jp
Total trading pairs: 3
Founded: 2014
Deposit fees: no
Withdrawal fees: yes
Trading fees: 0.11% – 0.25%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Requirements

Limits

Level 1 Email, First & Last Name, Cellphone verification 2,000 USD
Level 2 Bank account and photo ID verification 50,000 USD

15. Binance

binance cryptoName: Binance
Review
URL: https://www.binance.com
Total trading pairs: 3
Founded: 2017
Deposit fees: no
Withdrawal fees: yes
Trading fees: 0.1%
Margin trading: no
USA accepted: yes
Verification levels and deposit/withdrawal limits:

Verification Level

Limits

Verified 2 BTC
Institutional 50 BTC

16. Vaultoro

vaultoro cryptoName: Vaultoro
Review
URL: https://www.vaultoro.com
Total trading pairs: 1 (and it doesn’t involve USD)
Founded: 2014
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.20% – 0.50%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Verified No limit

17. LakeBTC

lakebtc cryptoName: LakeBTC
Review
URL: https://www.lakebtc.com
Total trading pairs: 8
Founded: 2013
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.20%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Normal No limit

18. BitMarket

bitmarket cryptoName: BitMarket
Review
URL: https://www.bitmarket.net
Total trading pairs: 5
Founded: 2014
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.45%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Unverified Yearly: 15,000 PLR/EUR
Verified No limit

19. CEX.io

cex cryptoName: CEX
Review
URL: https://www.cex.io
Total trading pairs: 15
Founded: 2013
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.20%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Basic Daily: 500 USD; Monthly: 2,000 USD
Verified Daily: 50,000 USD; Monthly: 300,000 USD
Verified Plus Unlimited
Corporate Unlimited

20. QuadrigaCX

quadrigacx cryptoName: QuaudrigaCX
Review
URL: https://www.quadrigacx.com
Total trading pairs: 10
Founded: 2013
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.20% – 0.50%
Margin trading: no
USA accepted: no
Verification levels and withdrawal limits:

Verification Level

Limits

Unverified Voucher only
Verified Bank wire: 500,000 USD; Cryptocurrency: 250,000 USD

21. Coinfloor

coinfloor cryptoName: Coinfloor
Review
URL: https://www.coinfloor.co.uk
Total trading pairs: 8
Founded: 2013
Deposit fee: yes (not on BTC)
Withdrawal fees: yes
Trading fees: Yes
Margin trading: no
USA accepted: no
Verification levels and withdrawal limits:

Verification Level

Limits

Verified No limit

22. itBit

itbit cryptoName: itBit
URL: https://www.itbit.com
Total trading pairs: 3
Founded: 2012
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.20%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

2FA Verified Daily: 30,000 USD; Monthly: 600,000 USD

23. Liqui

liqui cryptoName: Liqui
Review
URL: https://www.liqui.io
Total trading pairs: 235
Founded: 2016
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.10% – 0.25%
Margin trading: no (coming soon)
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Basic 50,000 USDT
Enhanced 500,000 USDT

24. ACX

acx cryptoName: ACX
Review
URL: https://www.acx.io
Total trading pairs: 6
Founded: 2016
Deposit fees: no
Withdrawal fees: yes
Trading fees: 0.00%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

25. Gatecoin

gatecoin cryptoName: Gatecoin
URL: https://www.gatecoin.com
Total trading pairs: 39
Founded: 2013
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.02% – 0.35%
Margin trading: no
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Tier 1 50,000 USD
Tier 2 Greater than 500,000 USD

 

mark cuban bitcoin

When mainstream investors and analysts discuss bitcoin investing, their answers are often so divergent that one could question whether they are even talking about the same asset.

This contentious debate has heightened in recent months, as the bitcoin price has repeatedly shattered records and carried the markets to fresh all-time highs. That trend continued on Saturday, as the bitcoin price rode a post-Thanksgiving wave of euphoria to a new high-water mark of $8,754 on bitcoin exchange Bitfinex.

bitcoin price
Bitcoin Price Chart | Source: BitcoinWisdom

The bears have been out in full force. JPMorgan CEO Jamie Dimon says bitcoin is a “fraud,” even though his firm might help clients trade bitcoin futures, and other entrenched financiers have issued similar condemnations.

That said, the list of bulls is steadily growing, with market observers such as billionaire hedge fund manager Mike Novogratz beginning to realize that it is a revolutionary technology.

Mark Cuban, a long-time cryptocurrency skeptic, has softened his stance in recent months, but he still believes cryptocurrency is “more religion than asset” and that bitcoin investing is a longshot — but one that aggressive investors should consider taking.

In a recent interview with Vanity Fair, the dotcom billionaire and Dallas Mavericks owner advised prospective investors to take a conservative approach, allocating the majority of their assets to a simple S&P 500 index fund. However, he added that “true adventurers” should place as much as 10 percent of their savings into bitcoin and ethereum.

“If you’re a true adventurer, and you really want to throw the Hail Mary, you might take 10 percent [of your investment capital] and put it in bitcoin or ethereum,” he said.

Now, very few Hail Mary attempts succeed, and Cuban cautions those willing to take the chance that they should be prepared to lose all of their money.

Nevertheless, those true adventurers who did take the plunge into bitcoin investing on Cuban’s advice have already been richly rewarded. Since Cuban issued this suggestion on October 18, the bitcoin price has already risen by 60 percent, increasing the value of a hypothetical $10,000 investment to $16,000.

Counting the value of any coins derived from Bitcoin Gold, an altcoin that forked away from the main bitcoin blockchain in late October and airdropped coins to anyone holding bitcoin funds at the date of the fork, the present value of that initial investment rises to nearly $17,000.

if this trend continues, it won’t be long before Cuban’s bitcoin Hail Mary begins to look more like an extra point attempt.

Featured Image from ABC News

bitcoin cash

A miner has successfully recovered more than $600,000 worth of bitcoin cash mistakenly sent to SegWit addresses, and he or she intends to return the coins to their rightful owners — for a fee.

The decision to fork away from the main bitcoin blockchain and create bitcoin cash grew out of a yearslong debate about the appropriate way to scale Bitcoin. However, the timing of the fork was related to the impending activation of the Segregated Witness (SegWit) upgrade on the main network.

Consequently, the Bitcoin Cash network has not upgraded to SegWit, and bitcoin cash transactions get stuck when individuals mistakenly send them to SegWit addresses. These funds can be claimed — by anyone — but the process is technical, arduous, and requires mining hardware. Mining pool BTC.com had recovered 100 BCH and returned them to users, but as of yesterday more than 493 BCH — worth $609,000 — remained stuck in SegWit outputs.

Today, that 493 BCH is no longer stuck. An anonymous miner — known only by the handle “bchsegwitrecover” — revealed on reddit that he or she had successfully recovered the coins.

bitcoin cash
Source: Block Explorer

The miner struck an altruistic tone, stating that he or she had done this as a service to the community.

“Some of you may have noticed this transaction recently which spent 493.54495133 BCH that was stored in segwit outputs,” the post said. “I have taken all of these coins to help those that have mistakenly sent BCH to segwit addresses,” the post said.

Affected users can retrieve their funds by sending the miner a signed message from the address from which the coins were sent — as well as a signed message from the address from which they are recovering the lost funds — and he or she will return them to the owner. The deadline to reclaim the funds is December 5.

There’s a catch, however.

“Because of the significant effort that was required to both claim these BCH and to verify that each person is the person who should be receiving the BCH, I will be taking 30% of the BCH recovered as a recovery fee. This means that you will receive 70% of the funds that was stored with a segwit address,” the post continues.

This might seem like a steep fee. It amounts to more than $180,000 — more if some users do not reclaim their funds. However, as the funds are already in the miner’s possession, victims must choose between reclaiming 70 percent of their lost funds or losing them permanently. All things considered, they are lucky the miner is returning any coins at all.

square cash

Financial services giant Credit Suisse says that bitcoin integration “confers legitimacy” on bitcoin and will prove to be a financial boom for payment processing startup Square.

Credit Suisse Bullish on Square’s Bitcoin Play

Credit Suisse is not known for being bullish on bitcoin. Tidjane Thiam, the firm’s CEO, has called bitcoin the very definition of the bubble, and the company has not shown an interest in directly engaging with the crypto markets. That said, Credit Suisse is very optimistic about Square’s recent decision to test bitcoin sales within its popular Square Cash app.

As reported by CNBC, Credit Suisse analyst Paul Condra predicts that Square will attract or convert 10 million users into bitcoin buyers within two years, leading to an incremental $30 million in annual revenue. This estimate is based on the assumption that users will spend $200 per year — leading to $2 billion in annual volume — and Square will charge a modest 1.5 percent transaction fee. In response to the announcement, Condra raised his price target for Square shares to $37 from $31.

Square Cash ‘Confers Legitimacy’ on Bitcoin

In a note to Credit Suisse clients, Condra went a step further, forecasting that bitcoin integration will “confe[r] legitimacy” on bitcoin and lead other mainstream businesses to feel comfortable adding support for digital currencies.

From the note:

“While we are positive on Square’s strategy, to the extent it confers legitimacy on Bitcoin and prompts adoption by other providers (i.e., PayPal) the biggest beneficiary may be the crypto-asset industry,” Condra reportedly wrote.

The bitcoin price has risen considerably since Square began its bitcoin trial, in part based on speculation that Square will eventually enable merchants to accept bitcoin through its payment processing platform. On Monday, the bitcoin price rose to a new all-time high, peaking at $8,315 on bitcoin exchange Bitfinex.

Not lucky enough to be able to participate in Square Cash’s bitcoin trial? You can buy bitcoin using a credit card through Block Explorer using USD or EUR.

lightning network

The lightning network has successfully processed a cross-blockchain atomic swap, marking another milestone for bitcoin scalability, privacy, and infrastructure.

Developers at Lightning Labs successfully used a lightning network channel to trade testnet bitcoin for testnet litecoin. The transaction was completed off-chain, meaning that they were able to trade the coins without recording a transaction on either the bitcoin or litecoin blockchain and without using a trusted third party such as a cryptocurrency exchange.

Here’s why that’s significant.

For years, the bitcoin community has wrestled with the question of how to scale the network to accommodate more users without sacrificing security or decentralization. Some developers — particularly those who believe bitcoin’s chief utility lies in its use as a currency — argue that the network should scale through blocksize increases. Others support a broader approach that relies on so-called second-layer solutions — such as the lightning network — that build on top of the bitcoin network and protocol but operate off-chain, so to speak.

This debate reached a head in 2017 when bitcoin’s meteoric price rise had a corresponding effect on transaction fees. Second-layer solutions remained in development with no set release date, and the currency-first crowd largely cast their lot with bitcoin cash, a cryptocurrency that was created through a hard fork of the bitcoin blockchain and relies on on-chain scaling to keep transaction fees low.

However, lightning advocates continue to believe that off-chain transactions — processed through second-layer payment channels at virtually no cost — are the future of everyday bitcoin payments and transfers. In addition to reducing transaction fees, they will conceal payments from the blockchain — ensuring user privacy — without sacrificing the trustlessness of bitcoin’s blockchain. And with full-featured support for atomic swaps, users will be able to trade coins across blockchains, eliminating the need for centralized order-book exchanges.

With the successful sandbox demonstration that off-chain atomic swaps are possible, that latter goal is one step closer to becoming a reality once the lightning network is deployed on top of the main bitcoin blockchain.

For a more detailed explanation of how lightning-based atomic swaps function, read this blog post published by Lightning Labs.