Best Crypto Exchanges in Germany

An individual must ascertain all the facts and figures before engaging oneself with an exchange. This article looks at the top 10 best crypto exchanges in Germany.

A crypto exchange is a place/platform that allows individuals to trade, i.e., buy or sell cryptocurrencies for a fee. There is a frenetic activity the world over in the field of cryptocurrencies. As the technology evolves, newer methods and affiliates are getting added to the repertoire. Leading the charge are the exchanges that take it upon themselves to provide features to their users to trade crypto with elan. An exchange offers numerous features to attract traders. From a trader’s perspective, it is essential to look at a few details before selecting an exchange. Let us look at the best crypto exchanges in Germany.

Bitcoin.de

Features
  • Holdings of users are certified by a publicly accredited company.
  • To reduce insolvency, EUR capital are stored safely in the account of users.
  • One can pay through the online method or use express trade for automated payment.

Fees: For both the buyer and the seller, the fee is 0.5% on the number of cryptos. The system automatically deducts this from the account.

Security
  • Almost 98% of the cryptocurrencies are stored offline or in cold wallets.
  • The platform has an option 2FA procedure to add another layer of security.
  • The platform has an SMS m-Tan procedure, thereby securing log-ins through a single-use password.

Liquidity: Bitcoin.de is the largest Bitcoin marketplace in Europe, with almost a million users. Because of its large user base, Bitcoin.de offers adequate liquidity to those trading on its platform.

eToro

Features
  • Has an extensive portfolio of cryptos.
  • Provides leverage on different instruments at varied rates.
  • eToro wallet is available.
Fees
  • Opening an account attracts no fees.
  • The trading fee is dependent on a spread chart which varies as per the range and the crypto involved.
  • Deposit is free
  • Low withdrawal fee
Security
  • Platforms follow all the European digital regulations.
  • Cyber security standards are maintained throughout the operations.

Liquidity: The crypto exchange has been around for a long time and does command a sizeable community. One of the reasons is undoubtedly strong fundamentals, liquidity being foremost. The platform allows traders to open and close their positions as and when they choose to. The average liquidity score of eToro is 209, which is strong making it ideal for trading with.

Binance

Features
  • Offers leverage service to its traders.
  • Platforms like Binance Pool is also offered to traders.
  • Crypto wallet is provided to users.
Fees
  • Deposit is free
  • The network fees decides the withdrawal fees.
Security
  • Platforms provide whitelisting of URL.
  • The platform has an option 2FA procedure to add another layer of security.
  • KYC is part of the authorization process.

Liquidity: Binance is the world’s largest exchange, with almost 1.4 million transactions taking place a second. Besides excellent customer service and state-of-the-art tech, liquidity is also an essential factor. The average liquidity score of Binance is 727, the highest in the world.

Bity

Features
Fees
  • Fees are to be paid in CHF or EUR.
  • The transaction fee is the fee that is paid for Bitcoin mining and is kept relatively low.
Security
  • Bity follows all the digital regulations that are mandatory for exchanges.
  • Bity does not store information of private keys.

Liquidity: This crypto exchange is the largest in Switzerland, where it is also based. It adheres to the highest regulatory and privacy standards and follows the best industry practices making it one of the best exchanges to trade with. As a result of the stringent legal oversight, Bity maintains adequate liquidity allowing traders to make quick decisions.

CEX.io

Features
  • Allows trade in USD
  • Excellent ease of usage
  • Highly responsive mobile app
Fees
  • Trading fee: for Takers, it is 0.25%, and for Makers, it is 0.16% for transactions below 5BTC which can be further reduced to 0.10% for Takers and 0.00% for Makers if the volume is above 6000 BTC.
  • Deposit Fees: VISA and MasterCard transactions are 2.99%, while Skrill charges 3.99%. Transaction through ACH and bank transfer are free with a longer wait time.
Security
  • 2FA
  • Compliance with FinCEN and FCA guidelines
  • State of the art encryption

Liquidity: It is low for Altcoins though it works well for Bitcoins. The average liquidity score of CEX.io is 430 making it one of the best in the liquidity section. This helps traders to quickly buy or sell their assets.

Coinbase

Features
  • Allows Coinbase wallet
  • Allows trading in local currencies
  • Easy to use
Fees
  • Trading fee: Varies for both Maker and Taker as per the trading volume.
  • Buying Fees: Flat 0.5%.
  • Selling Fee: A commission of 1.49% is charged.
  • Withdrawal Fees: Varies as per the network cost.
Security
  • 2FA
  • 98% of the funds are stored in cold wallets,
  • Adheres to all regulations and security policies.

Liquidity: Coinbase has a mammoth user base and is growing by the day. The funds that are stored in the hot wallet are insured and are primarily used for liquidity. The average liquidity score of Coinbase is 623, making it one of the best in business.

Coinmama

Features
  • Has extensive coverage of countries
  • Has high limits
  • Excellent ease of usage
Fees
  • Buying Fees: It is based on the Spot price, and the commission can be as high as 3.9% using SEPA bank transfers.
  • For credit cards, it is 5%
  • If SWIFT is used, then the minimum fee is 20 pounds.
Security
  • 2FA
  • Has stated of the art encryption and has no record of tokens stolen though, in 2019, hackers did steal half a million user records.

Liquidity: Coinmama has rolling limitations on limits and liquidity calculations. Also, since the focus is more on brokerage services, Coinmama has strong fundamentals vis-à-vis crypto exchanges. Its large user base also ensures that it has adequate liquidity.

Bitfinex

Features
  • Low fees
  • Deep liquidity
  • A vast array of Altcoins
Fees
  • Taker fees are 0.2% and can drop to 0% if large volumes stack up
  • Deposit through bank wires attracts a fee of 0.1%.
  • The withdrawal fee is 1%
  • Crypto deposits are free
Security
  • 2FA
  • Compliance with FinCEN and FCA guidelines
  • State of the art encryption

Liquidity: Bitfinex is known for deep liquidity and hence is an attractive proposition for experienced traders. The average liquidity score of Bitfinex is 571 making it a top draw.

WazirX

Features
  • The relative ease of usage
  • Wide range of cryptos
  • Easy user interface
Fees
Security
  • Stores 95% of the funds in cold storage
  • Provides 2FA
  • The wallet has a multi-signature authorization process.

Liquidity: WazirX provides decent liquidity because of which it has a growing community of traders using the platform. The average liquidity score of WazirX is 183, which is decent for an upcoming crypto exchange.

BlockFi

Features
Fees
  • Withdrawal Fees: One free BTC and one free Stablecoin per month. The rest is based on currency.
  • Origination Fee: 2% for all interest rates
Security
  • It buys SEC-regulated equities and CFTC-regulated
  • BlockFi keeps its reserves with third parties

Liquidity: It is a highly regulated platform complying with all US laws. It is because of this reason that healthy liquidity has to be maintained. As per the BlockFi Chief Risk Officer and Head of Global Digital Markets Rene van Kesteren, BlocFi provides liquidity actively to its counterparts to take long and short positions on Bitcoin. This is only possible when the company has a stable liquidity environment.

Final Words

Germany is known as the hub of cryptocurrency in Europe. The rise of crypto exchanges transforming the economic landscape has been nothing short of spectacular. The above were the best crypto exchanges in Germany that have garnered sizeable users, and we look forward to seeing their tribe grow by the day.

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