What Is the Best Cryptocurrency Exchange in Europe?

Since the last quarter of 2020, Bitcoin has seen an exponential rise in price, setting new all-time highs at every turn and dragging the price of other cryptocurrencies along. This has attracted more investors in Europe, and they are all looking for a reliable converter for cryptocurrency exchanges. 

This is your complete guide to choosing the best exchange platform in Europe to join the cryptocurrency community. 

What You Should Know About Cryptocurrency Trading Platforms

A cryptocurrency trading platform is an exchange for buying and selling cryptocurrencies like BTC, ETH, and XRP.

Top 5 Cryptocurrency Exchanges in Europe 

Godex.io

Godex.io is one of the best anonymous exchanges for peer-to-peer, cryptocurrency-to-cryptocurrency trading — for example, an XRP to ETH converter. 

Pros

• Transactions on the exchange are super fast. 
• Decentralized peer-to-peer exchanges give users more control of their private keys. 
• It offers the largest variety of trading pairs on this list. 
• Low trading fees. 

Cons 

• You can’t make cryptocurrency-to-fiat exchanges on Godex.io. 

Bitvavo

Bitvavo is one of the best cryptocurrency exchanges in the Netherlands for buying, selling, and exchanging cryptocurrencies. 

Pros

• It has an intuitive user interface and design. 
• It has numerous payment methods on basic accounts. 
• It has over 50 digital assets and even more trading pairs. 

Cons

• Only European residents can use Bitvavo. 
• It is not anonymous, so people can’t use it without verification. 
• The customer service can only be contacted through live chat and email. 

Cex.io

Cex.io is a licensed cryptocurrency exchange that allows you to trade cryptocurrencies in five minutes or less. 

Pros

• The website is easy to navigate, making it perfect for beginners. 
• Customer support has a fantastic response time. 
• Having multiple payment options provides flexibility and convenience. 

Cons

• Limited cryptocurrencies are available for exchange. 

Binance

Binance is the world’s largest cryptocurrency exchange per trading volume for centralized and decentralized trading. 

Pros

• Peer-to-peer exchanges are available on Binance P2P. 
• The fee structure is beneficial to loyal customers, and fees are low. 
• It offers several advanced trading tools for beginners and professionals. 
• Binance Global has over 591 trading pairs and 150 cryptocurrencies. 

Cons 

• Binance is currently under investigation for possibly enabling money laundering. 
• The 2019 security breach left many users skeptical about trusting their cryptocurrencies to Binance. 
• Binance.US isn’t available in New York and six other states.  
• Binance.US only has 109 known trading pairs. 

Kraken

Kraken is another popular option for Europeans looking for a relatively secure cryptocurrency exchange. 

Pros

• Kraken is one of the few converters that have never been hacked. 
• It has high liquidity, making it perfect for whale investors. 
• Deposit fees are low and free in some cases.  

Cons

• The verification process might take too much time for users to open intermediate and pro accounts. 
• Customer support isn’t quick to respond. 

Conclusion

There are hundreds of cryptocurrency exchanges in Europe, but they are not all ideal — each has its own advantages and disadvantages. The list below is made up of the best exchanges. You don’t need to use only one. You can use as many as you want to diversify your portfolio and enjoy more opportunities.