The table including the best bitcoin exchanges and their reviews from our experts is waiting for you directly below. And after our breakdown of the exchanges, don’t forget to look up the varying acceptance of cryptocurrency in different parts of the globe. We are excited to introduce a list of the most Bitcoin-friendly countries, which favor the technology to be tested and used at a rapid pace. You will find this block below the bitcoin exchange platforms.
Reviews of the Best Bitcoin Exchanges
We prepared the brief reviews of the best bitcoin exchanges. Here you can get acquainted with the main specific items of each platform, their advantages and disadvantages from our experts point of view. With help of this data, users are notified of all problems that may appeared while interaction with stock exchanges.
|Fast purchase time
Great to be able to use cash
Customer support is fast
|The prices can be quite high compared to the market
Was hacked (no customer funds taken)
Must go to bank to send money
|Easy to use for beginners
Quotes fees way ahead of time
Working to add more cryptocurrencies to platform
|Extensive verification process
Not very liquid for GBP
Has unlisted LiteCoin
|No personal information is required
Allows for easy switching between altcoins
Has high limits and liquidity
|Higher rates charged than most other exchanges
Trades take 5-30 minutes
Not capable of converting fiat currencies
|Lots of different service lines, including options
Tight security which includes cold storage
Good user interface and available in English
|High fees for trading and withdrawal
Customer service can be slow to respond
|Easy to buy cryptocurrencies with credit card
Very little identity verification is required
|Not possible to sell cryptocurrency
Customer service is slow to respond
|Good wallet security
Best option within Canada (fees and volume)
Lots of deposit options
|Slow verification times
Customer service is slow
Platform experience is lacking
|Low fees and high liquidity
Trades cryptos, tokens, and ICO’s
High level of security
|Slow customer support
Hacked in 2015
Requires complicated verification
|Cash can be used to purchase
High amount of privacy
Meet people in Bitcoin community
|More expensive than online trading
Liquidity is low
Potential to be physically harmed
|Extremely fast verification process
Intuitive trading process
Cheap transaction fees
|Only accepts USD for deposits
High volume of complaints
Poor customer service
Bitcoin in Europe
Cryptocurrencies and bitcoin exchanges received a lot of skepticism until very recently, but now some countries are warming up to it. That, or they are implementing strong authoritarian policies that make it hard to use BTC. We saw France crack down on all things crypto-related when they didn’t understand it, but now a lot of European countries are working to harness some of the benefits that can result from having bitcoin exchanges present in their economy.
The United Kingdom
|REGULATION: but not explicitly
TAXES: the same percentage as a regular business; capitals gains taxes apply to investments
The United Kingdom is one of the best places in the world for both investing in Bitcoin and carrying out business in Bitcoin. Britain has always been ahead of the curve in terms of financial innovation. They understand the inevitability of currency and bitcoin exchanges and are already working to integrate into their economy since they know they can’t fight it. Regular business can be carried out using Bitcoin, and although not explicitly regulated by the UK Financial Conduct Authorit.
Bitcoin exchanges have voluntarily started to work within the regulations of this authority. This included anti-money laundering measures and is why they also tend to turn away American customers so as to avoid additional regulation of the sector. The Bank of England is said to be considering adding some elements of Bitcoin or blockchain technology to their currency.
The Danish have come out as not recognizing Bitcoin as a currency, and it is not regulated by European or Danish authorities. The good news is this means no taxes are charged on business carried out with Bitcoin, and the government won’t do anything to prevent the opening of a Bitcoin exchanges in Denmark. Additionally, Denmark is very technology forward and already has a lot of citizens using digital currency. This makes Bitcoin a very appealing option for those people. The goal to become cashless is going quite well for Denmark and the question is if/when they decide to pivot their strategy to include BTC and bitcoin exchanges.
The Netherlands are among those countries with the most pro-Bitcoin attitude. The country was one of the first to introduce unique concepts of the Bitcoin Embassy and the Bitcoin City to ensure anyone who wants to apply Bitcoin in everyday life can. The Bitcoin Embassy not only allows people to pay with Bitcoin, but also supports the whole community of enthusiasts who love talking about BTC and bitcoin exchanges and make it a great learning experience.
Whereas, the Bitcoin City serves as a place for the whole group of people to adopt BTC as their primary payment method, and the experiment seems to be going really well. The Dutch authorities have made no indication they intend to regulate this currency and bitcoin exchanges, which has led to a bit of money-laundering thus far.
BTC in America
America is seen to be the key player of the Western world when it comes to the advancements being made and attitudes held. Bitcoin is a revolution for the finance industry the same way that these countries were a revolution from the British way of living. If there is anywhere you would expect Bitcoin exchanges to catch on fast, it is America. Silicon Valley has been thought of the root of worldwide innovation for a while, but as companies such as Amazon and Shopify appear, more innovation hubs are being created.
Innovation hubs are important not because of the companies present, but the workers and genius that power these companies. The more innovation hubs there are, the more genius is unlocked and can be put towards advancing BTC, bitcoin exchanges and blockchain technology as a whole. One example of this is the North American Bitcoin Conference which is slated for January of 2018 in Miami. The conference is hosted by an ace team that has run 12 similar conferences in the last five years and will focus on Bitcoin, ICO’s, and the future of the technology.
TAXES: capital gains and business tax
With Toronto and Vancouver being the major Bitcoin hubs, Canada can be considered very friendly towards Bitcoin startups. Cryptocurrency and bitcoin exchanges are regulated under the AML laws within Canada and is expected to be reported as the business or investment income. There are numerous Bitcoin ATM’s in Canada, as well as conferences, and it has even shown a willingness to develop its own digital currency in the future.
Canada is the prime example of a country with a massive economy and numerous intelligent investors who would like to get involved in the industry, but cannot find the means to enter. The options for bitcoin exchanges are quite limited and, as a result, it takes significantly more effort to find a platform Canadians are permitted to trade on. Waterloo has become a major innovation hub in the country, and it is about time that a Coinbase equivalent emerged so the perceived barriers to entry for investment into Bitcoin can disappear.
The United States
TAXES: marginal rate or capital gains rate
The United States of America is among the most technologically developed and advanced countries, so it makes sense that cryptocurrencies would have caught on so quickly there. Silicon Valley is one factor, but also the immense wealth present in the country has made it possible for blockchain startups to pop up. As a major financial superpower, most countries are watching to see what the US does and how it works.
Additionally, the use of LocalBitcoins as bitcoin exchange has greatly increased since its inception. This can be attributed to the nature of the US economy where many of the richest people, and therefore most likely to have disposable income they are willing to invest in Bitcoin, are concentrated in several areas defined by large cities.
Bitcoin in Asia
Asia is seen to be the future of the world economy. As we see more and more Internet users come online, we are expecting a massive change in the finance world. Startups are looking for ways to monetize the previously unharnessed power of the Asian citizen. Unlike the west, where everyone has credit histories, there is a dearth of information on individuals in Asia. This creates a massive opportunity for whatever technology can empower these people. BTC (and bitcoin exchanges) is clearly one such technology as it enables users to directly manage their own cash without the aid of a bank.
China has always been known for its privacy issues, and that is another reason why an idea like Bitcoin can have a lot more power there. Recently, China has announced a ban on the trading of Bitcoin, but this is not expected to last. It is more likely that the Chinese government is going to search for ways to control bitcoin exchanges a little better and then integrate into the economy. Due to certain competitive advantages in the Bitcoin mining space, China is the leading miner of Bitcoin, with approximately 50% of the global mining network power.
Additionally, non-existent trading fees mean that China also accounts for 70% of the global trading volume of Bitcoin. As a whole, this creates a massive market that is ready to flourish if it can properly be integrated with the outside world without being stifled too much by the Chinese government. The same applies to a lot of the more authoritarian countries in Asia that would benefit from having a stronger financial system.
Japan is known as a very Bitcoin-friendly country and has allowed a lot of different bitcoin exchanges to set up shop recently. This makes Japan unique compared to other Asian countries, which gives it a very pro-business advantage. Laws were recently passed which declare Bitcoin a form of payment, but not legal currency. This puts it in the zone of being regulated, but not being fully taxed in the same way as regular currency. The big worry for Japanese regulators is money-laundering, and they have remained vigilant to potential abuses of the cryptocurrency.
When an economy such as Japan shows a positive outlook on BTC and bitcoin exchanges, the result is a huge potential inflow of money. Many have credited part of the massive rise in Bitcoin’s value (~$125 billion) to the positive indication the Japanese government began to give it in 2017. There are clearly many other factors involved, but it is true that a positive regulatory stance can be a strong contributing factor in consumer sentiment.
South Korea has always been known as a very technologically advanced country. Bitcoin exchanges are currently not regulated, although there are no longer any bans on trading BTC in South Korea. Since there are no regulations, a lot of Bitcoin-related businesses have popped up. Everything from ATM’s to trading platforms is coming into existence, which is creating a huge opportunity for investors who believe in the cryptocurrency’s future. Additionally, a lot of conferences and communities relating to Bitcoin have emerged in South Korea.
Although cryptocurrencies and bitcoin exchanges have received a positive feedback from the South Korean government, ICO’s have not. The Financial Services Commission has put out a full ban on them until they can find a way to properly regulate this new form of venture capital.