Over the past few months, Coinbase has almost become synonymous withBitcoinandother mainstream cryptocurrencies.
Whats a Digital Currency Exchange?
Think of Coinbase and its ilk as a combination of stock exchange and bank.
Of course, none of this comes free, and pretty much all exchanges include some sort of fee.
Each exchange also supports a set list of cryptocurrencies.
For Coinbase, the list is limited to Bitcoin, Bitcoin Cash, Ether and Litecoin.
Kraken offers someadvanced trading features, though it can be a little too complicated for cryptocurrency beginners.
Theres aniOS apptoo, but its pretty limited and theres no official Android version.
There are alsowithdrawal feesto deal with, though theyre pretty minimal.
It supports Bitcoin, Ether, Litecoin, Ripple, and Bitcoin Cash, along with U.S. Bitstamp is trusted andregulated, however, it can be tough to get used to if youre a beginner.
The exchange also offers full-fledged apps foriOSandAndroidwhere you might deposit, withdraw, and get real time pricing data.
The company also chargestransfer fees on a sliding scaledepending on how much money youre moving around.
Binance
Binanceis a newer exchange that supports a wide variety of cryptocurrencies.
As a result, the company supports a long list of smaller cryptocurrencies along with all the big ones.
The China-based exchange also offersreasonable feesand two-factor authentication for added security.
Using the service is free, but LocalBitcoins charges a1% feefor any trades advertised on the site.
Sellers can also add their own extra fees if they want.
Theres no app for iOS or Android, and LocalBitcoins only supports Bitcoin.
However, similar websites for other popular cryptocurrencies likeEtherandLitecoinhave popped up as well.
