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Comparison

WAX vs. BitShares vs. Veritaseum

Digital assets have become a lot more popular over the past 12 months. We are not talking about regular cryptocurrencies here, but rather new assets which are issued on a blockchain. Several key projects are focusing on the digital asset industry as we speak, although they all seem to offer a slightly different take on things. We have outlined the basic ideas behind three of these projects below and how each differs from the others in its own unique way.

3. WAX

For those who are unfamiliar with eBits, the name stands for Worldwide Asset eXchange. It is a platform and a token designed to let anyone in the world create a marketplace for digital assets of their choosing. This project was created by the OPSkins team, which gives it a bit more credibility than one might otherwise assume. OPSkins is the world’s leading virtual item marketplace at present. WAX will allow different types of digital assets to be traded, including video game virtual items.

Buying or selling digital assets is anything but straightforward. Right now, buyers and sellers must contend with different currencies, chargebacks, and more. With the WAX platform, all of those problems become things of the past. The use of cryptocurrencies, smart contracts, and blockchain-based settlement makes this a project well worth keeping an eye on. That’s especially true when considering that these merchandising capabilities are offered to users free of charge.

2. BitShares

One of the older projects focusing on blockchain-based digital assets goes by the name of eBits. This particular concept is all about the creation of SmartCoins and providing decentralized exchange services. The project offers quite a few other features as well, including the option of banking on a blockchain. With a focus on becoming a decentralized exchange, BitShares aims to provide high performance, security, and convenience. In fact, the team claims their technology can process the same trading volume as NASDAQ.

Using the BitShares platform, it becomes possible to tokenize any asset and trade it in a decentralized manner. Whether it is gold, oil, national currencies, or cryptocurrencies, everything can be traded using Bitshares. Moreover, the technology is capable of tracking stocks, bonds, indexes, and even inflation. In an ideal world, companies would issue their stocks in a tokenized form on BitShares. This project offers plenty of opportunities waiting to be explored.

1. Veritaseum

One of the newer digital asset-related projects to come to market goes by the name of Veritaseum. Ever since its launch, the project has received a lot of attention and some criticism as well. Whether any of that is justified remains to be determined. The Veritaseum project focuses on building blockchain-based peer-to-peer capital markets for the global market. Its team is focusing on putting a wide range of assets and exposures on the blockchain as autonomous software. Anyone in the world can access these capital markets at the time of their choosing without any friction.

It is important to note two key aspects of Veritaseum. Its centralized solution caters to existing institutions not looking to get into distributed capital markets systems just yet. As a result, the client can run these solutions on their own servers. There’s also the distributed solution, which is research and analysis-based. It is good to see this project offering both options, as not every corporation wants to embrace the blockchain immediately.  

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Comparison

Here Are the Crypto Exchanges With the Lowest Fees

Considering you’ve got to pay a network fee every time you want to transfer cryptocurrency, you’d be justified in wanting to avoid excessive exchange fees. It’s bad enough that the dollar value of Bitcoin transaction fees can be upwards of double digits, so there’s no need to get gouged on withdrawal and trading rates by your favorite exchange. That’s why we compiled this handy list of low-fee exchanges so that you can get the best bang for your buck investing that crisp Benjamin your granny gave you for Christmas.

Our Pick of the Litter

GDAX

This technically isn’t the exchange with the lowest fees on this list, but it’s one of the cheapest and easiest options if you’re looking to purchase crypto directly with fiat.

GDAX is Coinbase’s exchange counterpart, and conveniently, if you have an existing Coinbase account, you can automatically link it with GDAX. The exchange charges 0% for maker trades, 0.25% for Bitcoin taker trades, and 0.30% for Litecoin and Ethereum taker trades (maker trades provide liquidity by creating a new buy/sell offer that is not immediately filled, while taker trades remove liquidity by taking a standing buy/sell offer and are filled immediately). GDAX does not charge for deposits or withdrawals.

Coinbase, on the other hand, charges a 1.49% fee for currency purchased using a bank account and 3.99% (yikes) for purchases using a credit/debit card. When we compare the two – and factor in the fact that you can use GDAX with your Coinbase account – GDAX is a no-brainer for fiat-to-crypto trading pairs.

Binance

Once you’ve got your wallet loaded with some coins, Binance is a great exchange option if you’re looking to take that Ethereum or Bitcoin and turn it into some altcoins.

Binance offers incredibly low rates, charging a flat 0.1% for all buy and sell orders with no deposit fee. Withdrawal fees vary on a coin-by-coin basis.

Even better, if you’re trading with Binance’s own coin (BNB), all exchange fees are cut in half to 0.05%. That’s hands down the lowest you’ll see an exchange charge for trading on its platform.

HitBTC

Like Binance, HitBTC is another solid choice for low-fee trading. While it may not be as popular as other exchanges and includes fewer markets, HitBTC only charges a 0.1% fee on buy/sell orders.

For deposits, HitBTC does not charge a fee, but rates for withdrawals vary by coin.

Bitfinex

Bitfinex charges a bit more than Binance and HitBTC do, but not by much. This exchange charges a 0.1% maker fee and a 0.2% taker fee. This is compared to Bittrex, which charges a constant 0.25% for both taker and maker trades.

As you probably guessed by now, Bitfinex has no deposit fee, but like those before it, there’s a withdrawal fee that varies from coin to coin.

Honorable Mentions: Kraken and Poloniex

These two are at the bottom of our list because while they still have lower fees than some of the other choices out there, the exchanges we’ve listed so far have them beat.

On Poloniex, maker fees come in at 0.15%, while taker fees will run you 0.25%. Funnily enough, Kraken is just 0.01% higher on both fronts, with 0.16% and 0.26% for maker and taker trades, respectively.

You already know what’s coming, don’t you? Yep: no deposit fees, and withdrawal fees vary.

Happy trading!

 

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Comparison

The Top Exchanges for Buying Bitcoin with Fiat (That Aren’t Coinbase)

Don’t get me wrong, Coinbase was a godsend when I first got into crypto, as it is for most fledgling investors. It’s painless to set up, it’s user-friendly, and it offers a variety of payment options. But between the 1.49% fee for bank transfers and its 3.99% fee for debit/credit card payments, you might be looking for an exchange with lower rates. Well, you’ve got some options, so why not explore them?

Top Exchanges for Fiat Trading Pairs

A few notes before we dive in:

This list is not exhaustive, as it is based on the top 15 exchanges by volume according to CoinMarketCap.com.

Also, a taker trade is one that takes liquidity from a market by purchasing a previous buy/sell offer, while a maker trade is one that adds liquidity by introducing a buy/sell order that does not match any current offer.

GDAX

We recently covered GDAX in eBits. It’s owned by Coinbase but operates like a traditional peer-to-peer exchange, so it’s nothing like its parent company.

With GDAX, you can deposit or withdraw fiat directly using your bank information to or from your Coinbase account. You can either initiate a bank transfer for free or wire money the same day for a deposit fee of US$10 or a withdrawal fee of US$25. U.S. bank accounts can also use ACH to send money, while European accounts can use SEPA. GDAX charges a 0.25% fee for BTC taker trades and a 0.3% fee for ETH and LTC taker trades. There are no fees for maker trades on the exchange.

Using GDAX, you can trade USD for BTC, ETH, LTC, and BCH. It also offers EUR trading pairs for BTC, LTC, and ETH, and a GBP pair for BTC.

Bitfinex

With Bitfinex, investors can access USD and EUR fiat pairs. Like GDAX, one can deposit directly from their bank with no fee, but unlike GDAX, there’s a 0.1% fee for withdrawals. Bitfinex also charges a 0.1% maker fee and a 0.2% taker fee for all trades.

Bitfinex has loads of USD to crypto trading pairs, but the most popular include BTC, ETH, XRP, BCH, MIOTA, and LTC. BTC/EUR and MIOTA/EUR are currently the two most popular Bitcoin-related pairs.

Kraken

Kraken offers crypto trading against USD, EUR, CAD, and JPY. Depending on one’s region, it offers a variety of deposit and withdrawal gateways, including SEPA, SWIFT, EFT, and direct transfers. There are no deposit fees, and withdrawal fees differ for each currency and method.

The exchange accommodates an array of fiat/crypto trading pairs, but the most popular for USD and EUR include BTC, XRP, ETH, BCH, and LTC.

Bitstamp

Bitstamp is another solid option for fiat to crypto purchases. It supports both USD and EUR trading, and allows for direct bank transfers, debit/credit card purchases, ACH transfers for U.S. users, or SEPA transfers for European traders. Bitstamp deals exclusively with trading pairs for BTC, BCH, ETH, LTC, and XRP, and you can purchase all five using EUR or USD.

Bitstamp’s trading fees are a flat US0.25%, but its deposit and withdrawal fees are a bit more complex. They vary based on one’s currency and deposit/withdrawal method.

 

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Comparison

Bitcoin Exchanges Comparison Chart and Reviews

As a new Bitcoin user one can get overwhelmed with the amount of different bitcoin exchanges available. We decided to create a chart and compare some of the top exchanges in the market. The exchanges are ranked based on a combination of a few key factors: liquidity, trading volume, information required to start trading, fees, and exchange features.

Rank Exchange Location Information required to start trading Wallet Fees Trading Fees Key Features
1 bitfinex-logo200 China
  • Email
No Fees Maker 0.1%
Taker 0.2%
  • Buy / Sell
  • Margin trading
  • Stop orders
  • Futures
  • Leverage trading
2 coinbase-logo200 USA
  • Email
  • Phone Number
  • Drivers License/ID
No Fees Taker 0.25%
  • Buy / Sell
  • Limit orders
3 btc-e-logo-200 Unknown
  • Email
Fee for withdrawal is 0.001 BTC 0.2% Fee for every trade
  • Buy / Sell
4 bitstamp-logo-200 UK
  • Email
  • Phone Number
  • Drivers License/ID
  • Proof or Residence
  • Tax return
No Fees 0.25-0.1% trading fees based on volume
  • Buy / Sell
5 okcoin-logo-200 China
  • Email
  • Personal Info (Form)
No Fees Taker 0.20%, Futures open position 0.03%
  • Buy / Sell
  • Margin trading
  • Limit orders
  • Futures
6 btc-china-logo-200 China
  • Email
  • Phone Number
  • Drivers License/ID
No Fees No Fees
  • Buy / Sell
  • Margin trading
  • Limit orders
7 kraken-logo-200 US
  • Email
  • Phone Number
  • Personal Info (Form)
No Fees 0-0.26% trading fees based on volume
  • Buy / Sell
  • Margin trading
  • Limit orders
8 huobi-logo-200 China
  • Email
  • Phone Number
  • ID / Passport
0.0001 BTC Withdrawal Fee 0.08-0.2% Trading Fee Depending on volume
  • Buy / Sell
  • Margin trading
  • Limit orders
8 btcxindia-logo Hyderabad, India
  • Indian Citizenship
  • Proof of Address
  • ID / Passport
No Fees 1% Fee for every trade
  • Buy / Sell

Bitcoin Exchanges Reviews

 

Bitfinex

TheMerkle_ETH Price BitfinexBitfinex is one of the most popular Bitcoin Exchanges on the market. Launched at the end of 2013 Bitfinex is a reputable exchange based in China, with its advanced trading features and leverage trading it takes the crown as the top rated exchange on our list. The leverage is limited to 3:3:1 but that is more than enough for such a volatile market. Bitfinex allows limit, market, stop, trailing stop, and fill/kill orders. If you are interested use the following code s2bJ8O2sqA to get a 10% discount off of your trading and swap fees for the first month following registration

Compared to other exchanges, Bitfinex has much more freedom/room to play around as a trader, it evens allows for borrowing or lending. The main pro about Bitfinex is that it allows you to short BTC, something which you cannot do on most exchanges, checkout this eBits.

 

Coinbase

TheMerkle_Working Remotely Coinbase

The Coinbase Exchange is a relatively new exchange launched at the beginning of 2015 by Coinbase – a Bitcoin Bank based in the United States. The exchange is fully compliant with an active KYC/AML program, furthermore the service may eBits regarding source of income and/or your use case for bitcoins. It comes in as second on our list because it lacks some features which Bitfinex has, on the other hand, Coinbase is fully compliant, has terrific customer service, and a great reputation in the bitcoin community.

The exchange itself has a beautiful layout with a sleek design, it has basic trading features such as buy / sell orders and limit orders. The interface is intuitive and placing orders is easy, checkout this eBits.

 

BTC-E

TheMerkle_Delays BTC-EBTC-E is the longest standing exchange in this list, launch back in 2011 it still stands strong today. It comes in as third on our list because of its long history of operation and the fact that you are not required to hand the exchange sensitive information about your identity. The lack of a proper KYC/AML program makes the exchange so controversial, however, it is the only exchange while allows for a truly free market where anyone from any country can trade bitcoins.

 

 

 

BtcXindia

btcxindia-beta-logo BTCXIndia is the number one Bitcoin exchange for Indian residents. It’s headquarters are in Hyderabad and they are fully compliant with KYC/AML policies in their country. At present, BTCXIndia does not charge any deposit / withdrawal fees but they do have a live orderbook with Buy / Sell options for which they charge a 1% fee for every trade.

According to David Marshall from the BTCXIndia marketing team, only Indian citizens are allowed to trade on the exchange. To become verified for trading they must pass Anti-Money-Laundering (AML) checks and submit a ‘Know Your Customer’ (KYC) form. This form requests key details including the applicant’s name and contact details as well as bank account information, a passport photo, a copy of official ID, proof of address and a signature. This level of customer disclosure is in line with the processes used by leading financial institutions and keeps our exchange secure for users. It is also pre-emptively compliant with what the government is likely to require when they look to regulate Bitcoin exchanges.

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