Bitcoin Exchanges Experience 2023 - Scam or Serious & Safe?

There is now almost no one who does not know the Bitcoin. In recent years, the cryptocurrency has developed from an insider tip to a quick-witted alternative and today forms the basis for many interesting business models. The Bitcoin Exchanges, for example, deal with the trading and exchange of bitcoins and real fiat currencies. Due to the enormous security precautions, almost all of the offers can be described as safe.

The provider was particularly convincing Binance !

In addition to the enormous security, of course, other points of criticism also play an important role in the evaluation of Bitcoin exchanges. The competition on the market is now enormous and so it is best to take a close look at each portfolio individually. This is exactly what we did, so that we were able to compile a list of trustworthy and strong Bitcoin exchanges below.

Binance	Go to the test report	101 Cryptocurrencies	Go to the page
Coinbase	Go to the test report	185+ Cryptocurrencies	Go to the page
CEX.IO	Go to the test report	8 Cryptocurrencies	Go to the page
Poloniex	Go to the test report	70+ Cryptocurrencies	Go to the page
BitFinex	Go to the test report	84 Cryptocurrencies	Go to the page

On this page, however, we not only want to take a close look at the various providers, but also at what is hidden behind them. In general, it can be said that a comparison of the providers makes it possible to see at a glance where an application is really worthwhile and around which portfolio it is better to make a bow. In addition, we also looked at the cryptocurrency in detail again and collected all the important information. What do I have to take into account if I want to buy Bitcoin, what are the requirements to be able to trade Bitcoin and how can fraud and rip-offs be avoided?

Bitcoin Exchanges: Is Bitcoin safe as a payment method?

Table of contents

Bitcoin Exchanges: Is Bitcoin safe as a payment method?
- Are there any fees for the players?
- Deposits: how they are processed
Overview of the advantages and disadvantages
Making withdrawals with Bitcoin
Our blacklist - you should avoid these providers
General Information
Conclusion: The selection of Bitcoin exchanges is large

Find Bitcoin Exchanges

In order to be able to discover good Bitcoin exchanges, the seriousness, the trading offer and the additional features should be checked.

Important criteria

Protection from criminals and fraudsters
An attractive selection in the portfolio

There is no doubt that the Bitcoin can be called an absolutely secure payment method. For example, blockchain technology is used here, which manages and stores all payment transactions in a decentralized manner. Thus, the payments are forgery and fraud-proof, since all flows can still be traced accurately even in retrospect. It is almost as if every person writes his name on the banknotes that he has held in his hand. It is therefore always possible to clearly understand where the funds come from and for whom they are intended. In addition, the Bitcoin exchanges also protect their users in other ways, of course.

If you want to make a deposit or access your user account, you must "identify yourself" with your login and another security key. This two-factor authentication is considered an absolute standard and provides further protection. But that's not all, because the well-known SSL encryption is also used in the portals. For example, here you can find more details about our The Binance Experience get. In this context, it can also be mentioned that Bitcoin payments can be made without entering private bank or credit card information. In short: Much more security is actually not possible. Are there any fees for the players?

Are there any fees for the players?

Whether a provider charges fees for processing deposits and withdrawals is of course up to him. However, the best Bitcoin exchanges do not charge transaction fees and thus secure additional advantages for users. If a provider insists on fees, they can be discovered in the checkout area or even in other areas on the website. Transparency is therefore in the foreground here and "nasty surprises" in the form of unforeseen fees are avoided.

Deposits: how they are processed

Basically, it can be said that the deposits with the Bitcoin are extremely easy to make and even newcomers should have no problems at all. In contrast to a bank transfer or credit card payment, no complicated numbers or IBANs have to be entered here. Instead, the payment is made solely via a short address. First of all, of course, you need to have your own user account at one of the Bitcoin exchanges in Canada. Registration is extremely fast in almost all cases and can always be carried out at no additional cost.

Subsequently, the deposit section is accessed in the payment area of the platform, where the required wallet address of the provider can be found. This is important and must now be entered in your own Bitcoin wallet as the recipient address. Once this has been done, the payment can be made and the amount lands on the trading account of the platform within a few moments. By the way: On some platforms it may be that FIAT currencies may be deposited in addition to the cryptocurrencies. Then the payments are made regularly by credit card or SEPA transfer.

Overview of the advantages and disadvantages

A look at the advantages of Bitcoin payments reveals some good arguments to deal with this option in more detail. On the one hand, there is the enormous speed of payments. All deposits and withdrawals land in your own wallet within a very short time and can be used immediately. Unnecessary waiting times of several working days or the like are eliminated. In addition, all payers can take another advantage of the enormous security of the coin. Thanks to blockchain technology, payments are processed in a forgery-proof manner at all times, and transactions can also be processed without entering sensitive payment information. So in terms of speed and security, the cryptocurrencies have a good deal of an advantage.

Nevertheless, we do not want to hide the fact that there is at least one minor drawback. Of course, before you can even pay with the currency, you first have to set up your own wallet. Fortunately, this process is also easy to handle, nevertheless, it might be perceived by one or the other as disturbing. If you do not want to open a Bitcoin wallet, you can use regular trading options.

Making withdrawals with Bitcoin

By the way, an important argument in favor of its use is also the fact that not only deposits, but also withdrawals can be made using the associated wallet. Of course, the cashier area of the Bitcoin exchanges has to be controlled again, where the path should lead this time into the payout sector. Here, the withdrawals are then simply ordered again with the help of the wallet address and then carried out immediately. The waiting time is eliminated, each user can access his amounts immediately. However, it is important to note that many Bitcoin exchanges require verification from their users, which often has to be carried out before the first deposit. A copy of the identity card, passport or other official document is then required for this.

Our blacklist - you should avoid these providers

As in almost all economic sectors, there are also some black sheep among the providers of Bitcoin exchanges. We probably don't have to emphasize that it is better to keep your fingers off dubious brokers. For our fraud tests, we work according to strict criteria by which we recognize rip-offs and fraud. So that you do not fall for the scam, we have put together an overview of trading platforms where you should rather not trade with Bitcoin.

Unsafe trading options can be recognized by aggressive advertising and fake reviews, among other things. We have found these and other signs of alleged fraud with the providers listed above. It is best to visit our site regularly so that you are always up to date about safe and unsafe online brokers for Bitcoin.

General Information

The Bitcoin was released in 2009 and is referred to as a so-called cryptocurrency. This is a digital currency and a digital system that is used to manage payments in a decentralized manner. Users are therefore not dependent on financial institutions, but can make payments without control from banks or the like. A big advantage of the coin is the counterfeit security, because all transactions can be traced exactly at any time. It is therefore not a big surprise that the value of Bitcoin has risen rapidly in recent years and more and more areas have discovered the coin for themselves. Nowadays, the coin is available for trading, but can also be used for the Pay in Bitcoin Casinos or use Bitcoin bookmakers. In addition, there are numerous Bitcoin lotteries and even regular online stores accept the electronic coin.

Conclusion: The selection of Bitcoin exchanges is large

A check of the industry shows pretty quickly that there are now numerous Bitcoin exchanges on the market. Most of them can be described as strong in the Bitcoin trading comparison, but not all of them. We have taken a close look at the best platforms without scams and rip-offs and subjected them to a hard-hitting test. For example, here you can find everything about our Bitcoin.de Experience read and read in our Coinbase Review find out all about this provider.

So we can not only recommend a first-class selection of reliable platforms, but at the same time point out their professionalism and seriousness. A use of the offers can be described as absolutely safe, especially since a large part of the providers already have a license from a regulatory authority. In order to be awarded as the best Bitcoin Exchange platform, however, the providers must convince above all in the overall package.