As with other niches, the cryptocurrency niche is full of fraud and scam. According to Investopedia, $1.36 billion worth of Bitcoin was stolen by fraudsters within the first two months of 2018. Many fraudsters will create or use fake cryptocurrency exchange websites to defraud investors of their hard-earned investors. Don’t fall into the trap, here are the top 5 legitimate cryptocurrency exchange websites that won’t scam you:
Rolled out in China in 2017, Binance is the largest cryptocurrency exchange in the world. Founded by Changpeng Zao(CZ), the massive cryptocurrency exchange deals in hundreds of cryptocurrencies, including Bitcoin, Tether and its very own Binance Coin(BNB). Boasting 15 million plus members worldwide, Binance posts an average trading volume of up to $3,344,864,994 every 24 hours.
2. Coinbase(Coinbase PRO)
Coinbase is a legitimate cryptocurrency exchange platform that was started in 2012. The exchange lets users access digital money securely and conveniently regardless of where they may be. It targets ordinary people, advanced traders, and businesses that accept cryptocurrency as alternative means of payment. Other businesses that can also benefit from Coinbase/Coinbase PRO are those that;
- Take cryptocurrency custody on behalf of other entities.
- Endeavor to raise funds to establish themselves as cryptocurrency startups.
This service today boasts a massive audience of up to 35 million individuals and entities from all over the globe. These groups rely on the platform to purchase, sell, hold, spend, or earn cryptocurrency. Bitcoin(BTC), Ethereum(ETH), Bitcoin Cash(BCH), and Litecoin(LTC) are some of the coins you can transact on Coinbase. This platform also lets you make money learning about digital currency.
Cash App has expanded its operations to cryptocurrency. This app for sending and receiving money now lets users buy and sell Bitcoin using the balance in their Cash App accounts. You can securely convert your Cash balance into BTC with this app. Cash App can be an easy way to get started with digital currency. Unfortunately, the app is limited to Bitcoin alone.
Founded in 2006, Etoro is one of the oldest websites for accepting, buying, holding, or selling Bitcoin among other cryptocurrencies. This Israeli-owned company offers a relatively easy-to-use cryptocurrency wallet known as “Etoro Wallet” with which they can transact over 120 digital currencies. The wallet is integrated with PayPal, allowing users to purchase a cryptocurrency of their choice, using their PayPal balance or convert their coins into PayPal balance.
Kraken is a legitimate digital currency exchange website founded in 2011. Owned by Payward Inc, the company is headquartered in San Francisco, USA. They deal in Bitcoin(Bitcoin), and Dogecoin(DOGE). Additionally, they specialize in fiat currencies like USD, EURO, JPY, and CAD.
It’s a legit service that’s been around for quite a while. This website deals in a range of digital coins just like other trustworthy cryptocurrency exchange websites. Notably, many people use it to buy Monero, a coin that many exchanges are banning due to some security concerns over the coin’s anonymity features.
Don’t get scammed by fraudsters that use fake cryptocurrency exchange websites. I hope this legitimate cryptocurrency exchange websites list helps you get started safely.