Compare your Top 3 Bitcoin Exchanges
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Provider
Pro and Contra
Has been hacked?
Fees
Security
Trading
Great for EUR/USD
90 90
Pro
  • Has not been hacked
  • Good payment methods
  • Exchange interface is awesome to use
Contra
  • No trading platform
  • Not regulated
  • Fees are not listed
Has been hacked? No Fees
Deposit Fees:
N/A
Withdrawal Fees:
N/A
Trading Fees:
1.29%-1.49%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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100x Leverage, No KYC
92 92
Pro
  • 2FA ensures security
  • 100x leverage available in 5 cryptocurrency
  • no KYC required
Contra
  • no fiat deposits available
  • no trading API, mobile app or PC program to do trading outside of the site
  • not widely known yet
Has been hacked? No Fees
Deposit Fees:
Free
Withdrawal Fees:
Free
Trading Fees:
0.01%-0.05%
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 100x
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Supports Credit Cards
80 80
Pro
  • High trading volume
  • Wire Transfer & Credit Cards
Contra
  • Premium on prices
  • Many bad reviews
  • Slow Withdrawals
Has been hacked? Yes, hacked in 2013 Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.16%-0.25%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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82 82
Pro
  • margin trading available in less-known altcoins too
  • option to reduce trading fees
  • native token
Contra
  • not available for US users
  • site is not completely localized for English
  • KYC is needed for withdrawal
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0,04%
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 10x
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High Leverage!
90 90
Pro
  • Available futures and derivates trading
  • High leverage
  • Many advanced features
  • Good liquidity
Contra
  • Not for beginners
  • High Withdrawal Fees
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
-0.05%-0.25%
Security Excellent Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
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82 82
Pro
  • low fees
  • futures trading options
  • leverage up to 100x
Contra
  • Lack of real user experience online
  • No social media activity
  • Users from the US are excluded
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
-0.02%-0.07%
Security Good Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
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86 86
Pro
  • no trading commissions
  • rewards system after open trades
  • offers to trade forex and gold too beyond crypto
Contra
  • no real online presence of the company
  • US users are not accepted
  • only email contact is provided
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.00%
Security Good Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 50x
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Many Altcoins
80 80
Pro
  • Very low Fees
  • A myriad of coins to exchange with
  • No lags experienced with website
Contra
  • Does not accept bank payment methods
  • Customer support lacks phone
  • US customers are restricted
Has been hacked? Yes (on 7. May 19) Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
0.10%
Security Ok Trading
Futures? None
Derivatives? No
Margin Trading? No
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Trade with FIAT
82 82
Pro
  • Professionally made website
  • Educational Materials (videos)
  • Easy verification process
  • Copy trading
Contra
  • Does not accept Bitcoin deposits/withdrawals
  • 75% of retail CFD accounts lose money
  • Limited cryptocurrency listings
  • No live chat
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
Yes
Trading Fees:
0.75%
Security Good Trading
Futures? Yes
Derivatives? No
Margin Trading? up to 30x
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72 72
Pro
  • high amount of leverage up 100x in bitcoin
  • easy to understand trading interface
  • low fees
Contra
  • new company, with no established online presence
  • no fiat trading option
  • no advanced order types
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
0.001 BTC
Trading Fees:
0.075%
Security Average Trading
Futures? No
Derivatives? Yes
Margin Trading? up to 100x
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90 90
Pro
  • - many coins and payment method supported
  • - fee sharing model
  • - transparency about company background
Contra
  • - reliability of service is depending on the sellers on the platform
  • - too many options to choose from can paralyze users
  • - high crypto prices
Has been hacked? No Fees
Deposit Fees:
Free
Withdrawal Fees:
Free
Trading Fees:
0.70%-1.00%
Security Medium Trading
Futures? No
Derivatives? No
Margin Trading? No
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72 72
Pro
  • 140+ currencies available
  • Accepts Credit Cards
  • 2FA Security
  • No verification for crypto to crypto
Contra
  • High transaction fee of 0.5%
  • Negative comments from the community
  • Still a lot to prove (a fairly new company)
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
0.50%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • Easy account creation
  • Futures and Options available
  • Phone support
Contra
  • Beta phase
  • Platform design needs to be “optimized”
  • Does not support any Fiat deposit/withdrawals
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
-0.02%-0.03%
Security Excellent Trading
Futures? Yes
Derivatives? No
Margin Trading? up to 10x
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80 80
Pro
  • Easy to use website
  • Great features
Contra
  • Verification process is long
  • Focused on Argentinean market
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
$20
Trading Fees:
0.50%-1.00%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • 2FA
  • Low Fees
  • A wide range of coins
Contra
  • No Fiat Payments
  • Leverage not available yet
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.025%-0.075%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up to 50x
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Fast Support!
78 78
Pro
  • Competitive fees
  • Good security
  • Accepts many different FIAT currencies
Contra
  • Website could use some improvements
  • Doesn't keep the pace with competition
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes, 1% + 5 USD
Trading Fees:
0.00%-0.20%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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82 82
Pro
  • low commissions
  • No KYC needed for crypto only deposits / withdrawals
  • good resources on trading and cryptocurrency
  • UK phone hotline
Contra
  • no information on the company background
  • US users are restricted
  • only cryptocurrency deposits are accepted
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.00%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? up to 50x
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82 82
Pro
  • Low fees
  • A wide variety of payment methods and currencies accepted, at least in theory
  • Easy to join and get going
Contra
  • Mixed reviews
  • Slow customer support
  • High commissions charged (by the seller) for buying Bitcoin with uncommon methods or in non-mainstream currencies
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.00%-1.00%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • Good reputation
  • High volume and liquidity
  • Connections in the industry grant it additional legitimacy
  • Easy to use and quick
Contra
  • Supports only BTC/FIAT trades
  • More negative comments in the recent past
  • Slightly higher fees if you are trading lower volumes
Has been hacked? Yes, in January 2015 Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.25%-0.10%
Security Very Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • Accepts Fiat Currency Deposits
  • Physical Card
  • A lot of deposit options
Contra
  • Unregulated
  • Limited number of coins
Has been hacked? No Fees
Deposit Fees:
2%
Withdrawal Fees:
2%
Trading Fees:
0.17%-0.43%
Security Excellent Trading
Futures?
Derivatives? Yes
Margin Trading? No
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Good Volume
70 70
Pro
  • Demo Mode
  • High trading volume
Contra
  • Hard Verification
  • Many user complaints
  • Fees are high
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Trading Fees:
0.10%-0.20%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up to 3x
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High Volume
76 76
Pro
  • High USD liquidity
  • Low fees
  • Full package of order types, margin trading and lending market
  • Hack has been solved professionally and innovative
Contra
  • Not a transparent company
  • Reputation loss due to hack
  • Unclear situation with USDT (Tether)
Has been hacked? Yes Fees
Deposit Fees:
No
Withdrawal Fees:
No, except wire transfers
Trading Fees:
0.10%-0.20%
Security Ok Trading
Futures? No
Derivatives? No
Margin Trading? up to 3.33x
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Many Altcoins
72 72
Pro
  • Support for numerous altcoins
  • Fast deposits and withdrawals
  • Competitive fees
Contra
  • Weak liquidity for some of the coins
  • No mobile apps
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.02%-0.18%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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Lots of Altcoins
80 80
Pro
  • User-friendly Interface
  • Security -Yobi codes (deposit codes)
  • Free Coins
Contra
  • Many Negative reviews
  • Very high withdrawal fees ( > 0.001 BTC)
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.2%
Security Excellent Trading
Futures?
Derivatives? No
Margin Trading? No
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Easy & Private
64 64
Pro
  • Private and fast
  • Easy to Use
Contra
  • Need to keep an eye for scams
  • Not suitable for large buyers
  • Now ID verification is required
Has been hacked? Yes Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
1.00%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • Verified merchants offer platform users services
  • Fast turnaround of deposits and withdrawals
  • High flexibility
  • Fully escrowed delivery
Contra
  • No mobile app
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
0.1% USD, 5 USDT, 0.0005 BTC
Trading Fees:
0.008%-0.150%
Security Good Trading
Futures? N/A
Derivatives? N/A
Margin Trading? up to 100x
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Many Problems
80 80
Pro
  • Low fees
  • Excellent liquidity in EUR markets
  • Margin trading supported
Contra
  • Weak support for mobile platforms
  • No "advanced" orders (stoploss etc.)
  • Often has uptime problems when market gets hot
  • Volume lags a bit in BTC/USD
Has been hacked? No Fees
Deposit Fees:
Yes, in some cases
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.26%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up to 5x
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Best Support
60 60
Pro
  • Superb liquidity, often the best in the world
  • Many advanced trading options
  • Low fees
Contra
  • Sometimes foreign traders have problems with verification
  • Chinese Exchange (PBoC)
Has been hacked? No Fees
Deposit Fees:
In most cases no
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.10%
Security Excellent Trading
Futures? Yes
Derivatives? No
Margin Trading? up to 3x
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66 66
Pro
  • Federally regulated
  • Available in all 50 states of USA
  • Good liquidity and competitive fees
  • Keeps BTC in cold storage, backed by audited reserve minimum
Contra
  • No mobile apps
  • No margin trading and short selling
  • No ACH transfers
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.20%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
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Best Bitcoin Exchange for Zimbabwe

In the last few days there has been a correction in the Bitcoin price. Until yesterday, the currency was traded below $10,000. Only a few days before, a coin cost 13,700 dollars.

Zimbabwe Economic Situation Favors Price Rise

But the Bitcoin course didn’t fall all over the world. In Zimbabwe, demand for the crypto currency remained high. On the peer-to-peer trading platform (P2P for short) LocalBitcoins, the crypto currency was traded at a premium of 650 percent. The highest price for a coin was 75,000 US dollars.

Due to the tense economic situation in Zimbabwe, many Zimbabweans decide to invest their money in other currencies. This is a thorn in the side of the government, which has banned foreign currencies.

Last week the government reintroduced the Zimbabwean dollar with a legislative change. With this measure, the government wants to prevent the US dollar from flowing into the country. It remains to be seen whether this is a good or a bad idea. However, the population is not satisfied with this approach. Nostalgia even looks back at the time when the Swiss dinar, the Iraqi currency, was the standard currency in Zimbabwe.

Trade in crypto currencies illegal

There is another reason why Bitcoin was so expensive on the trading platform. In Zimbabwe it is illegal to trade crypto currencies. Last year, all crypto exchanges in the country were forced to cease trading. As a result, investors have switched to P2P platforms. With this type of trading platform, trading takes place directly between investors.

So far, there is no legal consensus worldwide on how to deal with digital currencies. While some states want to ban Bitcoin and Co., others demand strict measures to limit the negative consequences, while other states are more accommodating and favour trade. In countries where digital coins are banned and the economic situation is poor, the population is looking for alternatives. These are often P2P platforms for crypto currencies. In addition to Zimbabwe, similar behaviour can be seen in Venezuela or Argentina. There the trade volume is skyrocketing.

Zimbabwe: Reserve Bank puts a stop to Bitcoin’s activities

Bitcoin and other crypto currencies were the saving anchor for many Zimbabweans. After a complete devaluation of the Zimbabwe dollar in June 2015, the country initially no longer had its own currency. This step was ultimately only a rescue after the Zimbabwe dollar was worth nothing anyway due to the huge inflation. Already in 2007, inflation was so high that the bank could no longer keep up with printing the money – there was simply too little paper.

In November, the inflation rate was 89.7 trillion percent (21 zeros). This means that a banana bought at noon would cost many times the price in the evening – but was still worth just as much. Since the Zimbabwe dollar was henceforth suspended, there was no longer any national currency. The foreign currencies were accordingly scarce, as the National Bank could no longer print any amount of money from them. In addition, the National Bank retained a large part of the transactions, especially for remittances from abroad. In the end, it was the entire population that traditionally suffered from the mismanagement.

In the end, many people resorted to Bitcoin and other crypto currencies. Despite the high volatility, the use of crypto currencies was much more attractive for people in Zimbabwe. Bitcoin was the gateway to financial independence.

But this is exactly what the Reserve Bank of Zimbabwe now apparently wants to lock down. According to Zimbabwean media, banks in Zimbabwe now have 60 days to ban trade in crypto currencies from their portals. It has issued guidelines prohibiting financial institutions in Zimbabwe from working with crypto exchanges or people involved.

Zimbabwe and the integrity of payment systems

The largest crypto exchanges in Zimbabwe include Bitfinance, Styx24 and Golix. The latter recently set up Bitcoin-ATM in the country. Among other things, the central bank points out that “as a monetary authority it is the guardian of public trust and thus has an obligation to preserve the integrity of payment systems”. Since, as the bank continues to write, crypto currencies would affect the financial stability of the country, it is ultimately necessary to ban them.

To be on the safe side, they list the activities in detail. According to the list, prohibited crypto activities include. “Receiving accounts, registration, trading, settlement, security agreements, transfers, payment and settlement accounts, lending, acceptance of loans, opening accounts at exchanges and transferring money to accounts related to the purchase or sale of crypto currencies”.

In plain language, the Reserve Bank of Zimbabwe prohibits any action that has anything to do with crypto currencies. While the official reason is to secure the country’s economy, the step is to secure one’s monopoly position. Ultimately, however, it is precisely this that has driven people to use crypto currencies in the first place.

About Zimbabwe

  • Official Name: Republic of Zimbabwe
  • Independence: 18 April 1980 (from Great Britain)
  • Area: 390.757 sqkm
  • National nature: high plateau with higher central plateau, mountainous in the east; tropical, moderate climate due to altitude, rainy season November to March
  • Highest elevation: Inyangani (2,592 m)
  • Coast: inland with borders to Zambia, Malawi, Mozambique, South Africa and Botswana
  • Environmental issues: soil erosion, deforestation (fuel), high toxic residues in water and soil in mining areas
  • Population: 13,182,908 (July 2013 estimated)
  • Population density: 33.7 inhabitants per square kilometre of land area
  • Capital: Harare
  • Languages: English (official language), Shona, Ndebele, as well as several other African languages
    Religions: Syncretists (Christianity with elements of indigenous religions; 50%), Christians (25%), indigenous religions (24%), Muslims and others (1%)
  • Form of government: parliamentary democracy
  • Constitution: 21 December 1979, new Constitution adopted by Parliament on 9 May 2013
  • Right to vote: all citizens aged 18 and over are eligible to vote.
  • Executive: Head of State and Head of Government: President Robert Gabriel Mugabe (since 31 December 1987); Vice-
  • President: Joice Mujuru (since 6 December 2004); Prime Minister: Morgan Tsvangirai (since 11 February 2009);
  • Cabinet: appointed by the President and answerable to the National Assembly; Presidential candidacies admitted upon submission of a signature list with at least 10 signatures of registered voters (at least 1 from each province), President elected by universal and direct suffrage
  • Legislature: bicameral parliament: House of Assembly with 210 seats, Senate with 93 seats. 60 of which are directly elected, plus 10 provincial governors, 5 persons appointed by the president and 18 chiefs (16 of whom are elected).
  • Parties: government parties: Zimbabwe African National Union-Patriotic Front (ZANU-PF); Movement for Democratic Change – Tsvangirai (MDC-T); Movement for Democratic Change (MDC)
  • Legal system: combination of Roman-Dutch and English law
  • Judiciary: Supreme Court, High Court
  • Administrative division: Eight provinces: Manicaland, Mashonaland Central, Mashonaland East, Mashonaland West, Masvingo, Matabeleland North, Matabeleland South, Midlands; two independent provincial towns: Bulawayo, Harare
  • International memberships: UNO and sub-organisations, African Union (AU), SADC Development Community, COMESA Common Market, World Trade Organisation (WTO; International Monetary Fund (IMF); World Bank)
  • International country categories: no LDC status (8 of the 15 SADC countries are considered Least Developed Countries (LDCs) according to UN regulations and receive special funding)