Best Cryptocurrency Brokers In 2020

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In the cryptosphere, selecting the best crypto broker is not an easy task. There are hundreds of exchange platforms available for buying and selling of cryptocurrencies. And, each one claims to be the best exchange that can be trusted. But, many exchanges fail in that respect and sometimes leads to loss of user’s funds.

Therefore, to make your task cut short and help you to select the best crypto broker, I have come out with a list of best crypto brokers that can be trusted and provides superior trading experience.

Best Crypto Trading Platform To Use In 2020

#1. Coinbase

Coinbase is one of the most trusted and biggest brands in the cryptosphere, serving over 30 million users worldwide. The exchange has contributed significantly to redefine the crypto trading segment with its innovative product line.

Founded in 2012 in San Francisco, California, Coinbase is a one-stop-shop for the management of your crypto assets. It offers trading services in major cryptocurrencies including BTC, ETH, LTC, BCH, XRP, and few ERC-20 tokens.

Available on both web and mobile platforms, it offers brokerage services, wallets, and pro service for advanced crypto traders. Coinbase supports fiat currencies and its services are available in 102 countries.

The other services include the Coinbase Index for tracking the financial performance of all Coinbase listed assets, custodian services, Paradex that lets you trade directly from the wallet, and the USD coin (USDC), a stablecoin built by Coinbase.

Since Coinbase is regulated and complies with the laws and regulations in each jurisdiction it operates, users need to fulfill the KYC requirements.

Why choose Coinbase?

  • Trusted and reliable platform
  • Platform integrates advanced security features
  • User-friendly interface and suitable for beginners
  • Wide range of crypto support
  • Supports fiat transactions

#2. CEX.io

CEX.io is a UK based exchange launched in 2013 that allows trading in bitcoin, Ethereum, and a variety of other cryptocurrencies. It offers cross-platform trading via the web, mobile application, WebSocket, and API.

The platform is suitable for both beginner and professional traders and allows you to buy cryptocurrencies using a credit/debit card. Its services include Instant Buy, CEX.io Exchange, CEX.io Broker, and CEX.io Aggregator.

It has a fee schedule based on the user’s 30-day average trading volume and starts from 0.25% as a taker fee and 0.16% as maker fee. The fee gradually decreases with the increase in 30-day average trading volume.

The exchange’s services are available in 99% of the world including 43 states of the United States and have over 3 million registered users. And, since CEX.io is a FinCEN registered entity, users have to comply with the KYC guidelines.

Why choose CEX.io?

  • Established and reputed platform
  • Wide range of services and easy buying process
  • Multiple coin support
  • Supports multiple payment options including fiat

#3. Paxful

Paxful is a peer to peer marketplace for buying and selling bitcoin instantly with over 300 payment methods. The platform was launched in 2015 to help users to buy bitcoins with almost any payment option.

The platform is very easy to use and the whole transaction process is very secure and transparent. Once a buyer finds the seller on the platform and the seller accepts the buyer’s offer, the bitcoin is moved to Paxful’s escrow account and released to the buyer only after the seller confirms the receipt of payment.

Paxful is fully free for buyers which makes it an attractive option. It only charges a 1% plus miner fee from sellers on the total value of the transaction.

There are four buying limits, and the starting or level 1 requires only an email and phone verification and offers a buying limit of $1,500. For higher buying limits, users need to perform enhanced due diligence.

Paxful’s services can be accessed worldwide including the United States and it restricts countries with economic sanctions.

Why choose Paxful?

  • Established and reliable p2p marketplace
  • Wide range of payment options
  • Smooth transaction and seller trust rating

#4. WazirX

WazirX is an Indian cryptocurrency exchange launched in March 2018 but was acquired by Binance Holding Limited in November 2019.

It takes customers from all over the world but the platform is designed particularly for Indian users. The platform allows users to trade cryptocurrencies through its exchange platform and buy and sell cryptos through P2P exchange using fiat currencies.

The exchange platform is highly scalable and can handle millions of transactions per second. It is available on all popular web and mobile platforms and has some of the best security measures as per global standards.

Regarding the fee, it charges a flat rate per transaction i.e. 0.25% as taker fee and 0.10% as maker fee. The customer onboarding process is quick with the super-fast KYC process.

Why choose WazirX?

  • Strong backing of Binance
  • Quick registration with the easy KYC process
  • A secure and highly scalable exchange platform
  • Competitive fees

#5. Bitit

Bitit is a Paris-based cryptocurrency exchange that allows the buying and selling of cryptocurrencies using the traditional mode of finance including credit/debit cards.

Founded in 2015 by three friends to simplify the process to access cryptocurrencies and reach every corner of the world. Bitit supports 52 different cryptocurrencies and stablecoins and can be bought using 15 different fiat currencies which helps to save the cost of conversion for users.

The platform is registered in France and legally operates in 50 countries including all EU countries, the UK, the US, and major economies of the world.

Bitit has a flat transaction fee of 0.25% for both buying and selling of cryptocurrencies. And, the transaction fees for credit/debit card purchase is 3.9%, which is the lowest among its peers.

Why choose Bitit?

  • Supports a wide range of cryptocurrencies and 15 different fiat currencies
  • Lowest transaction fee for credit/debit card purchase
  • Regulated marketplace
  • Strong security framework

#6. CoinSwitch

CoinSwitch is an India based crypto exchange aggregator platform and primarily caters to Asian users. In short, it connects users with multiple platforms to help get the best exchange rate on orders.

Through CoinSwitch, you can buy, sell, and manage over 400 different cryptocurrencies and a staggering number of trading pairs. The platform supports credit card purchases and users don’t require to register on the platform or go through any KYC verification process.

Users can access the platform either through the web or mobile applications. There is no fixed transaction fee on the platform and is dependent on the exchange type and coin. However, the fee ranges between 0-0.49% for each transaction.

Why choose CoinSwitch?

  • Wide range of crypto selection
  • No registration and KYC requirements
  • Supports credit card purchases
  • Competitive fee structure

#7. OKEx

The OKEx is one of the largest crypto-to-crypto exchanges and ranks in the list of top 10 exchanges in terms of the daily trading volume. Its product range includes spot & derivatives trading, onchain wallets, mining pools, and margin trading. Other features include buying with a credit card, up to 100X leverage on perpetual swaps, etc.

OKEx is considered one of the safest crypto exchanges due to a strong security framework. Also, it has the lowest fee structure among all the leading exchange platforms. For normal users, the maker fee starts at 0.10% and taker fee at 0.15%. And, it drops to as low as 0.06% as maker fee and 0.09% as taker fee.

Why choose OKEx?

  • Suitable for both beginners and professional traders
  • Fiat to crypto support
  • Offers a wide range of trading options
  • Leverage trading
  • Supports over 100 cryptocurrencies

Which Bitcoin Broker To Choose In 2020?

You can find many other crypto exchange platforms that offer superior product range and trading experience, but the above-discussed list of best crypto brokers are selected based on the following three factors:

  • Safety of the platform
  • Have an established track record
  • Utility and convenience offered in the platform

The crypto landscape is quite dynamic and intimidating for users, therefore you need to choose an exchange that is trustworthy, secure, easy to use, and offers a quality experience.

Sudhir Khatwani

Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.

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