There are many bitcoin exchanges available on the web. Trying to figure out where to trade bitcoin? What bitcoin exchange to use? Exchanges traditionally provide customers a service to buy bitcoins or to convert fiat money into bitcoins. Increasingly, they are also offering a greater number of services, including various trading tools. Some of the exchanges are bitcoin specialized; others offer to trade with other cryptocurrencies as well, such as litecoins and ripple. If you want to start buying and selling bitcoins for trading purposes, you should start with creating an account in one of the platforms described below.
Bitcoin-only trading platforms
Bitstamp has a strong reputation as a very professionally-run bitcoin exchange with a few advanced trading tools. It offers three buying or selling order forms: an instant buy/sell order that buys and sells your coins at the lowest and highest offered price, a limit order that limits maximum purchase and minimum selling prices and a stop order. Bitstamp supports USD and EUR.
Bitcoin and other cryptocurrency trading platforms
OKCoin is a Chinese cryptocurrency exchange. It is a promising platform with low fees and high liquidity. It is currently close to being the largest exchange by volume in the bitcoin market over the last period. With only bitcoin and litecoin support and USD as the only fiat, there are not many cryptocurrency pairs available for trading. It offers margin trading, margin futures and more.
A trading platform for bitcoin and litecoin with many advanced features. Users can trade bitcoins by placing a buy or sell offer in the order book. Margin trading feature allows users to borrow funds from peer liquidity providers to trade bitcoins. This allows you to effectively trade as if you had more money than you do have, therefore increasing your profits when you make a winning call, and increasing your loss when you make a losing call.
Kraken combines forex trading and bitcoin exchange into one complete service. It is a feature-rich cryptocurrency trading platform with advanced trading tools that are suitable for more sophisticated investors. Kraken offers one of widest ranges of advanced options for trading bitcoin, litecoin, doge, ripple, and a few other digital currencies which can all be traded against each other, or against USD or Euros. Recently, there is a lot of trading with Ethereum on Kraken.
If you own a BitGo bitcoin wallet, it is worth mentioning that Kraken supports BitGo Instant, allowing you to deposit or withdraw bitcoins instantly, meaning that there is no more waiting for transaction confirmations.
Headquartered in Shanghai, China, BTCC was originally founded as BTCChina in 2011. It is the oldest Chinese exchange and world’s longest operating bitcoin trading platform. BTCC offers a trading platform for users to buy and sell bitcoins/litecoins in the native Chinese CNY currency. It is China’s leading bitcoin exchange, both in terms of trading volumes and the amount of liquidity. BTCC recently introduced Pro-Exchange, their advanced leveraged bitcoin trading platform. Pro Exchange offers 20x leverage, allowing you to maximize your trading profits. They recently opened a new US Dollar denominated platform for spot and margin trading.
Despite the basic look, this exchange is an important player in bitcoin trading business. If you’re a forex trader, BTC-e is probably the easiest exchange to get into. In addition to bitcoin trading, it also offers other virtual currencies: litecoin, namecoin, peercoin and some others. The fiat currencies on offer are USD, EUR, and RUB. Please note that this is a well-hidden exchange, with no clues regarding the identities of the individuals behind it and where the exchange is truly based.
General platforms that support bitcoin trading
Many traditional trading platforms are now joining the digital currency trading and offer bitcoin ETFs, or electronically traded funds. Unfortunately, they do not accept US clients at this time.
This is a forex broker that offers CFD bitcoin trading. Currently two bitcoin CFDs are available. The Bitcoin Weekly CFD has a 20 to 1 leverage and expires every friday, the Bitcoin Mini only has a 2 to 1 leverage but does not expire. A major problem of both contracts is the inability to trade them during the weekend.
Plus500 offers leveraged trading through which you can take both long and short positions on bitcoin’s price. Plus500 has CFDs for both bitcoin and litecoin and offers generous welcome bonus to new traders (T&Cs apply). It is an all-around broker that offers plenty of trading opportunities for the average and professional trader. They offer leveraged trading through which you can take both long and short positions on bitcoin’s price. The broker is open to 50 countries. Your capital is at risk. CFDs are leveraged products and can result in the loss of your capital. Terms and Conditions apply. Plus500UK LTD is authorized and regulated by the Financial Conduct Authority – FRN 509909. Plus500 CY LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14).
This is one of the latest forex brokers that offers bitcoin trading. You can only take a long position; no shorts are permitted. Etoro takes a 1% fee for bitcoin trades, and it uses the BitStamp’s data as a price reference. They accept users from more than 200 countries around the world, but not the US.
Other bitcoin trading platforms
We have included only the most significant exchanges by trading volume in the last period.
Bitcoin Trading Bots
If you want to be involved in bitcoin trading in multiple exchanges at the same time, you can simplify your trading activities with automated trading bots. They will do the job of selling and buying bitcoins instead of you. These bots are software programs that link directly to multiple exchanges and place buy and sell orders on your behalf. Find more about bitcoin trading software.
- Bitcoin-Ethereum Atomic Swap: A team of cryptocurrency startup developers is open-sourcing technology that enables trustless trading between the Bitcoin and Ethereum blockchains. Available on GitHub, the code has already been used to execute what startup Altcoin.io claims to be the first so-called “atomic swap” between the two largest cryptocurrencies. As a result of the release, a now larger community of developers can play around with and build on top of the code. [2017-10-14, source].
- BTCC, an international cryptocurrency exchange based in China, has announced it has ceased all domestic trading activities. On its website, BTCC now states that all local trading in yuan and cryptocurrencies has been officially suspended as of midday, September 30, Beijing time [2017-10-03, source].