6 Best Crypto Exchanges In The Bahamas

November 12, 2022
Blog

Choosing the best cryptocurrency exchange in the Bahamas isn’t easy, given all the options out there and the different features each of them offers. As an avid crypto investor myself, I diligently keep up with the movements of the top exchanges in the Bahamas, and have made my selections below based on years of research and personal experience.

Pepperstone is the favorite among knowledgeable Bahamian crypto investors, both for its high level of security and for its ease of use. Pepperstone's fees are also extremely low, so if you’re looking for a secure, cost-effective way to buy and sell crypto in the Bahamas, I can’t recommend Pepperstone highly enough.

Here’s something you may not realize: the cryptocurrency exchange you choose matters. Your choice will impact how profitable your trades are, how easily you can buy and sell coins, and whether you can use it in the Bahamas at all.

Fortunately, I've been investing in crypto for more than 9 years, and I frequently update my list of the top platforms below. So if you’re looking for a safe and secure crypto exchange that’s easy to use, supports the Bahamian dollar, and is compatible with the biggest financial institutions in the Bahamas, you’ve come to the right place.

Here are my top picks for the best crypto exchanges the Bahamas has to offer.

1. Pepperstone

Zero Fees
Capital

Trading fees: 0%
Supports: 100+ coins
Customer support: Excellent

Trusted by millions.

★★★★★

Rated 4.9/5

Capital allows users to trade crypto alongside stockscommodities, forex, market indices, ETFs and more—all without any trading fees. It supports 100+ cryptocurrencies, and users can trade with 2x leverage on crypto (up to 500x leverage on other assets).

Capital charges a tight spread ranging from 0.1% – 0.3% (depending on the asset), making the overall cost of using the platform (0% trading commissions + 0.1% – 0.3% spreads) very low. It has a fully functional desktop platform, a well-rated mobile app (4.7/5 on Android and iOS), and an excellent demo account where you can practice trading with real assets in real time.

Capital is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, which means it’s a safe, secure platform. Every user receives a dedicated account manager they can reach by email or phone anytime, which is part of the reason Capital’s customer support team receives such positive reviews.

Deposits and withdrawals are always free with Capital, and you’ll never pay trading commissions regardless of whether you place spot orders or limit orders. Capital is ISO 27001 certified for meeting robust information security standards, making it an extremely safe platform to trade with.

The biggest drawback of Capital is that it can take several days to have your account verified since their verifications team is overwhelmed with signups right now. If you sign up using my referral link, though, you can skip the waitlist and start trading immediately.

I’ve personally used Capital for more than 4 years, and based on my experiences and those of millions of other users, I can’t recommend it highly enough. 

Features

  • Zero trading commissions
  • Tight spreads (0.1% – 0.3%) 
  • Supports 100+ cryptocurrencies
  • Allows up to 500x leverage (2x leverage on crypto)
  • Fully functional demo account for paper trading
  • Free deposits and withdrawals via debit/credit cards, bank transfer, POLi, PayPal, Apple Pay, etc.
  • Dedicated account manager you can reach at any time
  • Excellent desktop trading platform
  • Well-rated mobile app (4.7/5 on both Apple and Google)
  • Licensed by the Australian Securities and Investments Commission (ASIC)
  • ISO 27001-certified for meeting extremely high information security standards

Cost

  • Trading fees: 0%
  • Spreads: 0.1% – 0.3%
  • Deposits & Withdrawals: Free

Signup Bonus

Skip the waitlist and have your account approved immediately by using my referral link below.

Best For

Investors looking for the best overall crypto trading experience with no trading commissions.

SIGN UP FOR FREE
Offer ends December 5, 2023.

2. Crypto.com

Best For Altcoins
Crypto.com

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.3/5

Crypto.com is a major global player that brings a mature, proven exchange to experienced crypto investors. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.

Crypto.com offers some unique features that no other cryptocurrency exchange can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.

Crypto.com also has invested an enormous amount of money into its platform's security, making trading with them extremely safe. The exchange is lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.

Overall, Crypto.com is a solid exchange for investors looking to cash in on brand-new altcoins.

Features

  • Average trading fees (0.4%)
  • Supports 100+ cryptocurrencies
  • Allows up to 10x leverage
  • Trade crypto derivatives (futures and options contracts)
  • Earn daily interest by staking your coins
  • Purchase newly-listed coins at up to 50% off
  • Free deposits from all cryptocurrencies

Cost

  • Account Opening: Free
  • Trading Fees: 0.4%

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

3. Binance

Binance is an international cryptocurrency exchange that currently serves as the world’s largest crypto trading platform by volume of daily trading. It began operations in 2017 and is now headquartered in the Cayman Islands.

Binance was founded in Hong Kong but later moved its headquarters overseas due to increased government intervention in cryptocurrencies. It has several notable characteristics, including powerful charting tools, access to DeFi yield farming through Binance Earn, and the Binance Visa Card.

Features

  • Wide array of supported cryptocurrencies (300+)
  • Wide array of supported fiat currencies (50+)
  • Binance Earn allows users to stake coins and earn interest on their crypto holdings
  • Earn up to 8% back in BNB on every transaction made with a Binance Visa Card
  • Get access to lower fees by transacting in Binance's native currency Binance Coin (BNB)

Cost

  • Crypto deposit fees: Free
  • Fiat deposit fees: From 0% to 3.5%
  • Crypto withdrawal fees: From 0% to 2,5%
  • Taker fees: From 0.04 to 0.1%
  • Maker fees: From 0.02 to 0.1%
  • Futures trading maker fees: 0.02%
  • Futures trading taker fees: 0.04%
  • Instant buy/sell trade fees: 0.5%
  • Debit/credit card purchases: 4.5%

Best For

Investors looking for a secure, internationally-recognized exchange.

4. Bitstamp

Bitstamp is one of the world's largest and oldest crypto exchanges; it is geared towards experienced traders and has over 4 million active users worldwide. It offers competitively low fees ranging from 0.1% to 0.5% and many payment options; you can use credit or debit cards and SEPA transfers.

Bitstamp is partnered with large financial institutions like Swissquote, Chicago Mercantile Exchange and Crédit Agricole. Bitstamp fully insures your assets and keeps them safe offline – in cold storage. Bitstamp provides both hot and cold storage.

New Bitstamp users receive a $20 bonus after funding their account, and you can immediately use it to buy any of the 53 cryptocurrencies available.

Features

  • Extremely low trading fees (0.1%-0.5%)
  • Buy crypto with fiat currency, credit cards or bank transfers
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 53 of the largest cryptocurrencies
  • Access to a crypto wallet
  • Hot and cold wallet storage

Cost

  • Account Opening: Free
  • Credit Card Purchases: 5%
  • Debit Card Withdrawal: Flat $10 (USD)
  • SEPA Fees: €0 for deposits, €3 for withdrawals
  • Trading Fees: From 0.5% to 0.1% (0.5% for trades below $10,000)
  • International Wire Transfer: 0.05% for deposits, 0.1% for withdrawals

Signup Bonus

$20 signup bonus

Best For

Experienced investors looking for professional investing tools and data.

6. Bity

Founded in 2014, Bity is a Switzerland-based crypto exchange; its primary goal is to make crypto accessible to everybody, with little to no restrictions. To sign up with Bity you don’t have to complete an ID verification, just with your phone number you can start trading.

Bity is regulated by the Swiss Regulatory Authority and is in compliance with Anti-Money Laundering regulations (AML) and is regularly audited by the KPMG. Trading fees start at 3% and through the Bity Dashboard, you can keep track of your history of transactions – all in one place.

As a new Bity user, you'll receive a $40 bonus upon completing your first trade. Bity currently supports fiat money-to-crypto for both BTC and ETH. Bity is a great choice if you’re looking to buy your first crypto with fiat money; you can then transfer to exchanges with more coin offerings.

Features

  • Extremely low trading fees 
  • Bity Dashboard, keep track of all your transactions in one place
  • Quick transactions, you can store your IBAN and crypto addresses
  • ID verification not required to trade
  • Create your own API tokens
  • Customer support available through chat
  • Fiat money to Crypto 
  • Crypto to Fiat money
  • AML compliant 

Cost

  • Account Opening: €10
  • Selling Fees: From 3% to 8%
  • Purchasing Fees: From 3% to 8%
  • Deposit Fees: Depends on the currency
  • Bank Wire Withdrawal: Depends on the currency

Signup Bonus

$40 signup bonus

Best For

Investors looking to invest in Bitcoin (BTC) or Ether (ETH) using fiat money.

Why you should trust me

  • Experienced
    I bought my first cryptocurrency (Bitcoin) in 2013, bought Ethereum in 2017, and have held active accounts with at least 5 exchanges since 2018.
  • Unbiased
    All of my selections are supported by multiple data points, including crypto thought leaders, security experts, and Trustpilot reviews.
  • Deep Research
    My team and I spent more than 20 hours researching exchanges before choosing our top picks, and we update them almost daily as the industry continues to change.

What To Look For In A Great Bahamian Crypto Exchange

I consider many different factors in my search for the best Bahamian crypto exchange. Here are just a few of the more prominent ones:

  • Supported coins: The best Bahamian crypto exchanges support a wide variety of coins—at least 20 or 30—including all the major coins like Bitcoin, Ethereum, and Dogecoin. Platforms that add new coins regularly tend to be more customer-focused overall, making this a strong indicator of a forward-thinking exchange.
  • User interface: Choosing a platform with an easy-to-use trading interface is important, especially for beginners. If you're a seasoned crypto investor, you'll also want to look out for exchanges that offer more advanced features like advanced order types and transaction exports for tax purposes.
  • Fees: All crypto exchanges charge fees (both in the form of trading commissions and bid-ask spreads), and they can vary by a wide margin. I've specifically chosen low-fee platforms here to help you maximize your profits.
  • Regulation: It's much safer to trade with a well-regulated exchange than an unregulated one, especially when markets aren't moving in your favor. Depositors' insurance is another safeguard offered by some exchanges, which keeps your assets safe even if the platform itself faces liquidity issues.
  • Deposit & withdrawal options: The exchange you choose should offer a variety of payment methods (bank transfers, debit/credit cards, PayPal, etc.) to ensure you can easily transfer funds in and out of your account. The more options you have, the better.
  • Security: Look for an exchange that strictly enforces multiple layers of security, such as two-factor authentication and at least 95% cold storage. Additional security measures like daily offsite backups, third-party security audits, and email confirmations on transactions make your account even more secure.
  • Customer support: The best crypto exchanges pride themselves on having well-trained, responsive support teams who can help users through any problems that come up. I pay particular attention to the channels each exchange offers support through, response times, the thoroughness and helpfulness of their responses, and user feedback on the customer support they've received.

In Summary

Choosing the best cryptocurrency exchange in Bahamas isn’t easy, given all the options out there and the different features each of them offers. As an avid crypto investor myself, I diligently keep up with the movements of the top exchanges in Bahamas, and have made my selections below based on years of research and personal experience.

Pepperstone is the favorite among knowledgeable Bahamian crypto investors, both for its high level of security and for its ease of use. Pepperstone's fees are also extremely low, so if you’re looking for a secure, cost-effective way to buy and sell crypto in Bahamas, I can’t recommend Pepperstone highly enough.

Best Crypto Exchange Bahamas FAQs

Which Bahamian crypto exchange has the lowest fees?

The Bahamian crypto exchange with the lowest fees is generally Pepperstone, depending on the specific crypto assets you're trading. In most cases, Pepperstone will be the cheapest option.

What’s the best crypto wallet in Bahamas?

The best crypto wallet is the Ledger Nano S hardware wallet. It is the best way to keep your private keys secure and, more importantly, offline. All Ledger wallets are certified by the French National Agency of Security and are among the safest and most cost-efficient wallets out there, and they support 1,200+ crypto assets, coins, and tokens.

What’s the best altcoin exchange in Bahamas?

The best altcoin exchange in Bahamas is one of Pepperstone or Crypto.com. All of them support a wide variety of cryptocurrencies and regularly add more of the altcoins Bahamian investors are looking for.

What is the safest crypto wallet in Bahamas?

The Ledger Nano S is the safest wallet available today. All Ledger wallets far exceed industry standards for security: they use tamper-resistant Certified Secure Element (SE) with Common Criteria (CC) EAL5+ chips on their nanodevices, which means your private key stays on the secure chip. It also has a proprietary operating system called Blockchain Open Ledger Operating System (BOLOS) that's successfully undergone audits from the French National Agency of Security, many other government agencies, as well as regular audits from independent security organizations. 

What’s the safest crypto exchange in Bahamas?

The safest cryptocurrency exchange in Bahamas is Pepperstone. They strictly enforce bank-level security protocols, run on servers in secure locations around the world, and undergo frequent financial and security audits to ensure all of their users’ assets are completely safe. They also have some of the lowest fees of any platform in Bahamas and are known for being a reputable, trustworthy exchange.

How Can I Sell Bitcoin In Bahamas?

There are several different ways to sell Bitcoin in Bahamas, though the easiest is to sell it directly from the crypto wallet or exchange that you’re holding it on. Remember to be cautious whenever you transfer coins between wallets, since blockchain transactions are irreversible.

What crypto exchange is best for beginners in Bahamas?

The best crypto exchange for beginners in Bahamas is generally Pepperstone. Both are ideal for beginners because they verify accounts instantly, have easy-to-use trading platforms, and provide great customer support in case you need any help along the way.

Is cryptocurrency legal in Bahamas?

Yes, cryptocurrency is legal in Bahamas, and you can buy, sell and use crypto without breaking the law. However, cryptocurrency is not currently considered legal tender in Bahamas, which means the Bahamian government and Bahamian businesses are not legally obligated to accept it as payment for goods and services.

What’s the best crypto app in Bahamas?

The best crypto app in Bahamas is Pepperstone. Its mobile app is very easy to use, has a nice, modern interface, and has very good ratings and reviews on both the Apple App Store and the Google Play Store. If you live in a country like Bahrain or Azerbaijan instead, you’ll have to double-check to ensure you can get the Pepperstone app in your local app store.

What is the best crypto exchange for day trading in Bahamas?

The best crypto exchange for day trading in Bahamas is Pepperstone, since it has low trading fees, tight spreads, and its prices update multiple times per second, giving day traders an upper hand over the rest of the market.

Can the Bahamian government track cryptocurrency?

Yes, Bahamian tax authorities can track cryptocurrency trades and transactions—and not only when your digital assets interact with real-world institutions like banks. Some exchanges in Bahamas are required by law to provide the government with information about their users’ transactions, including purchase price, purchase date, sale value, and all associated KYC data. If your tax returns don’t match the data the government receives from these exchanges, you may receive a fine.

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