Cryptocurrency exchanges

Additional Information

At Cryptopedia our goal is to teach you how to buy ethereum, bitcoin and any other cryptocurrency. Our comprehensive reviews of cryptocurrency exchanges aim to give you the best user experience possible. It does not matter if you are an experienced or beginner investor, we have the exchange for you. By ranking exchanges by multiple factors, you can choose which one suits your needs best. Our priorities are security and user experience, but we also rank the exchanges on; accepted payment methods (credit card, paypal, bankwire, cash and other cryptocurrencies), exchange rates, deposit fees, customer service, reputation and legitimacy. A review includes a summary of the review, country of origin, accepted FIAT currencies (such as €, $ or £) and accepted cryptocurrencies (such as Ethereum, Bitcoin or Litecoin) as well as accepted payment methods.

History of Bitcoin

Bitcoin was created by Satoshi Nakamoto in 2009. To this day, Satoshi remains unknown and has since long not been a part of the community. You can find the Bitcoin whitepaper, written in 2008. It is the first outlines of a digital currency based on blockchain technology, the currency that became Bitcoin. Bitcoin has risen in value thousand-folds over the years and is well known over the world today. Large new outlets like Bloomberg, Financial Times and Forbes regularly write about Bitcoin and its developments. Almost every single exchange trades in bitcoin these days.

What is Ethereum?

Ethereum is the second biggest cryptocurrency after Bitcoin. It was founded in 2014 by a team of developers, lead by Vitalik Buterin. Ethereum was crowdfunded at the value of 1$ per ether. The currency has had it ups and downs but has clearly cemented its position as the second largest cryptocurrency. While Bitcoin aims to simply work as a currency, Vitalik and the team have grander visions for Ethereum. Ethereum is the base platform for other developers to create applications on. The potential of these applications are only limited by your fantasy and we will surely see the blockchain technology ethereum and bitcoin is based on take the world by storm over the coming years. Most exchanges has added ethereum to their selection of cryptocurrencies, but make sure the exchange you choose is marked with the ethereum logo before you deposit funds.

Risks with Cryptocurrencies

There are a lot of risks involved in cryptocurrencies. The market is young and there is a high level of volatility. Do not invest more than you can afford to lose. Take extra caution if you use margin trading. Big exchanges have seen flash crashes, liqudating long assets in a matter of seconds. We do not recommend you use margin trading unless you have experience using it before. Government regulation may happen, so as an investor you are required to comply to any new laws. A regulation may cause a big value drop of cryptocurrencies. This is just one of the big risks that cryptocurrencies face today.

Exchange licensing and regulation

Exchanges are regulated differently depending on where they are licensed and in which countries / U.S states they serve customers. Make sure to read and understand the exchange Terms and Conditions before you make a deposit. Depositing money to an exchange which does not serve your territory may result in fees and locked funds until the issue has been resolved. If you are unsure whether the exchange in question serves your area, please contact them by opening a ticket or sending an email to their support-team. 

In addition to this, your home country may have regulations affecting you. Cryptocurrencies are often taxable. Make sure you know your countrys stance on cryptocurrencies and abide the regulations.