Best Exchanges for Stellar to Bitcoin Trading
If you’re looking to exchange cryptocurrencies — for instance, Stellar Lumens (XLM) to Bitcoin (BTC) — it’s important that you look out for the best trading platform. Rather than spend hours searching for reasonable exchanges and their pros and cons, we have made a list of some of the best ones in this article.
Godex.io
This crypto exchange allows customers to convert different crypto coins privately. It’s simple and straightforward. Users are not required to open an account on this XLM to BTC converter before they can complete the exchange.
Advantages
- Versatile and allows for a large pairing variety
- No transaction limits
- Quick transactions
- Secured by user-controlled wallets
Disadvantages
- Doesn’t support fiat currency
Kraken
This is actually one of the oldest crypto exchanges in existence. However, it is more suitable for use by traders with previous experience. This is due to the abbreviations, specific terms, customizable options, etc. that are offered.
Advantages
- High liquidity
- Supports futures and margin trading
- Customizable with different options and a variety of order types
Disadvantages
- Low leverage
- Expensive deposits
Bisq
This crypto exchange is very different from the rest, as users can exchange fiat and cryptocurrencies within a decentralized environment. So the exchange doesn’t handle any funds, and is impossible to get hacked.
Advantages
- Non-KYC decentralized exchange
- Apps for Android and iOS users
- Multiple payment options
Disadvantages
- May be difficult for some to use
- Relatively high fees
- Teamed up with third-party companies
Coinbase
Coinbase is the biggest U.S. exchange and one of the world’s largest as well, trading in over 30 coins. It offers high trading volatility and numerous security features that make it attractive to its customers. However, the fees can be relatively higher than other competitors.
Advantages
- Good variety of coins
- High liquidity
- Simple user interface
Disadvantages
- Fewer altcoin options than other exchanges
- High fees for non-Coinbase Pro users
- No customer control over wallet keys
Binance
This popular exchange allows for trading in more than 150 coins. It began as an exchange for trading between crypto pairs. Some services offered are listing, de-listing, withdrawal, and grading of coins.
Advantages
- Relatively low fees compared to other exchanges
- Advanced charting
- Large options for trading and crypto pairs
Disadvantages
- May be difficult for less-experienced traders
- Fewer trading pairs on Binance.US than in international counterparts (although there are over 100 pairs)
- Not supported in seven U.S. states, including New York
The Final Chord
This article contains five of the best crypto trading exchanges. You should definitely give Godex a try if you want to control your wallet keys and are interested in fast transactions. You can try them all and decide for yourself. Take fees, transaction speeds, and security as the basis for your choice.
