The 10 BEST Bitcoin Exchanges of 2017
The Bitcoin market is gaining popularity very fast and today there are many Bitcoin Exchanges across the net. While many considerations needs to be taken into account when selecting your best Bitcoin Exchange, there is no doubt that your main concern should be security. Our cryptocurrency experts are constantly evaluating the main Bitcoin Exchanges in the market based on cold storage, withdrawal limit, payment methods and more. The results are provided in the chart below.
5 reasons to buy Bitcoin Today
- Bitcoin’s price is stable then ever, in the past year bitcoin has showed linear growth and has been more stable than gold.
- Now is the time! Since global economy is unstable investors seek safe havens like Gold.
In many ways Bitcoin is very much like Gold since there is a limited amount of Bitcoin and you cannot print it out of thin air like other currencies. The only difference is that Bitcoin can be easily move anywhere worldwide.
- Bitcoin is not influenced from global economic crises.
On the contrary, the worst the economy get the more demand for bitcoin rises.
- Bitcoin usage is rapidly increasing over the world. Side projects based on Blockchain technology such as Ethereum, DASH, Sia etc are the next generation of decentralized services and are the future of the internet.
- Bitcoin is the easiest way to buy and trade other Altcoins.
What should I consider when selecting a bitcoin exchange?
As we mentioned above, security should be your primary concern, though the bitcoin protocol has never been hacked many bitcoin exchanges did.
Here are some considerations you should pay attention to:
- When you purchase bitcoins, never keep all your holdings at the exchange wallet, the best way to handle your bitcoins is to hold as many as you need in order to trade at the exchange wallet. The rest should be kept in an offline storage.
- Always make sure that your online/offline wallet is backed up. The most secure wallet is a paper wallet (see Security terms explained).
- You should prefer a bitcoin exchange that reside in country.
- It is recommended when you create a wallet at the exchange’s site to use a Two Factor Authentication solution (see Security terms explained), we recommend using google authenticator.
Security terms explained
- Cold Storage: Cold storage referred by bitcoin exchanges is an offline storage that keeps most of the exchanges cryptocurrency thus preventing intruders/hackers from stealing big amounts of cryptocurrency. Cold storage can include the following medium:
- Paper Wallet: a hard copy of the wallet's private key is kept in a safe place.
- USB or any other offline physical storage.
- Withdrawal limit: Withdrawal limit is designed to protect you in case an intruder/hacker gained access to your wallet. When hacked, the intruder will be limited in withdrawing a certain amount per day and not all of your funds. Withdrawal limit varies between different exchanges (see the main chart).
- Two Factor Authentication: Also known as 2FA is an extra security layer that beside the username and password requires an additional information that only the user knows. That information reside on a token or a mobile app and prevent user data from being stolen in case an attacker gained the user credentials.