Slowly but steadily, the demand for cryptocurrency exchange services is growing together with the increase in adoption and education. Things would have been easier if Bitcoin was the only digital asset but real life is always hard.
You would frequently need to swap Bitcoin for other digital assets, and therefore, you need to know where you can do it conveniently and reliably. For that purpose, we have compiled a short list of the best crypto exchanges to trade Bitcoin in 2023.
1. ChangeHero: the Best to Outsource Crypto Trading
ChangeHero is our favorite platform for this purpose, and let us explain why. It is not your regular crypto exchange but rather, a service that handles crypto trading for you. They have been around since 2018 and all this time remained a go-to place to exchange BTC without an identity verification process. They work differently from centralized exchanges because they don’t have user accounts but unlike decentralized exchanges, they do not require users to connect a digital wallet, either. Users are sending only what they need to exchange, and ChangeHero finds the best exchange rate across a few crypto exchanges. In other words, it can act as one-point access to multiple CEXs and DEXs. They charge a service fee but it covers network and trading fees.
On their website, you can also purchase Bitcoin or buy and sell crypto with a credit or debit card. As they explain on the website, these transactions are handled by their partners, so in this case, KYC is necessary. We recommend ChangeHero for being great at saving time and effort while being a very easy-to-use platform.
2. Binance: The Most Used Crypto Exchange
If you have at least touched the topic of crypto exchanges, you probably know about Binance. Everyone and their mother seems to be using it, and it’s very understandable why. It has a nice assortment of digital assets available and plenty of Bitcoin markets as well. Among the global crypto exchanges, it leads by trading volumes. Binance offers an impressive variety of choices for crypto trading: margin and spot trading, futures trading, and P2P markets. For price tracking and trading on the go, you can use their smartphone app.
To sign up for this crypto exchange, you will need to verify your identity in a KYC procedure. Consider whether you would like to share your personal info with them and once it is out of the way, you get a great crypto trading experience. Binance users are incentivized to get BNB for trading fee discounts, and on its own, it is also a popular altcoin to use.
3. Changelly: the Most Straightforward Crypto Exchange Fees
Changelly is an instant crypto exchange, meaning it is an analog of #1. It works by the same principles and ultimately enables you to buy and sell cryptocurrency with fiat currency and other digital assets. Out of the entire list, it has been around the longest, since 2015, but still offers trending coins and tokens and works on the same level as more modern platforms.
To trade crypto assets there, you will not need to create an account, though this is an option. The interface of Changelly is also much simpler than regular crypto exchanges, making it suitable for users with no background and experienced traders alike. Other merits of this trading platform include fast processing times and competitive exchange rates picked from a few cryptocurrency exchanges.
4. Coinbase: One of the Leading Crypto exchanges in the U.S.
Coinbase is a U. S.-based centralized exchange, known for its ubiquity and strong security measures. For buying crypto with fiat, it is the safest option because it supports bank account and wire transfers, and of course, credit and debit cards. The downside to it may not be available in your region. When it comes to the trading fees, it is also not the cheapest to use but the expenses pay off.
Coinbase takes great care to cater to crypto users of every level. The platform is easy to use, and more advanced trading features are out of the way of trading until you are ready for it. There is plenty of educational resources about cryptocurrency trading and the market. The exchange itself is a custodial service, meaning what you deposit into your account is under their control. Withdrawing Bitcoin to your own digital wallet is (almost) always an option, and Coinbase even made a separate app to help users manage their digital funds.
5. Trading BTC on Uniswap? Why Not!
Let’s say you don’t trust any centralized exchange at all, and you are not happy with how slowly Bitcoin works. This doesn’t mean you are out of luck! Uniswap, a decentralized exchange on Ethereum (and BNB Chain) has plenty of markets for Wrapped Bitcoin (WBTC).
By having WBTC, you can make use of the Bitcoin price changes in decentralized finance. The lack of a central authority makes crypto exchanges on Uniswap fast and secure. It may be surprising to see it in the list of Bitcoin exchanges but trust us — it is worth trying. It may not be recommended to beginners but once you get the hang of the crypto market, it is an excellent way to rebalance your crypto portfolio. And if you have not found a liquidity pool for your trading pair, you can make one and collect crypto rewards from trading fees.
By no means this is an exhaustive list of all places where you can exchange BTC in 2023. Out of thousands of DEXs and centralized exchanges, many will provide you with a serviceable transaction. The platforms listed are what we have tried and can vouch for, and your experience can always end up different. Find and choose the best crypto exchanges for you: CEX is great for trading, swaps are best for trading Bitcoin quickly, and DEXs are recommended for DeFi enthusiasts.