The Best Exchanges for Buying Cryptocurrency

Published:
Updated:
Category:

Educational

top_crypto_exchanges_thumbnail

For anyone looking to buy cryptocurrency, it is critical that they evaluate the currently-existing wallets and exchanges to decide on a platform that suits their needs.

Among the considerations to be made is a site or mobile app’s security features to ensure the safety of transactions. Most markets will require users to verify their identities in one way or another. The ease and efficiency of user verification is what needs to be considered.

Just like legitimate markets, prices and fees are a huge factor for decision makers. While coin prices are affected by market forces of supply and demand, users are always looking to spend cheap dollar in exchange for big economic returns.

Top Cryptocurrency Exchanges

Coinbase

The Coinbase platform, tops the chart of best places to buy cryptocurrency, is considered the largest and most reputable Bitcoin site in the U.S that supports Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

Coinbase offerings are centered on both a crypto exchange and wallet model.

In terms of fund safety, the Coinbase wallet happens to be very secure owing to its portal that employs the two-factor authentication process. The platform is also said to be insured against theft and cyberattacks, including the fact that 98 percent of Coinbase user funds are held offline as a safety precaution.

Robinhood

Robinhood prides itself in being the best place to buy cryptocurrency – including Bitcoin, Ethereum, and Dogecoin - people looking to save on cost. It is also ideal for users aiming to manage their crypto straight from their smartphone devices.

The platform began as a free-of-charge stock brokerage outfit before moving into the dynamic world of crypto trading. Today, users simply purchase and trade Bitcoin and other virtual coins without the requirement to pay fees.

Nonetheless, U.S. observers note that Robinhood’s greatest catch is that the service’s coverage is not impressive, only a specific list of States support crypto trading with the platform.

Cash App

Like Robinhood, Cash App users are not required with part with any penny in order to buy and sell cryptocurrency.

Point to note, Cash App was created by Square, a financial services firm that has been making mobile credit card readers since its founding in the year 2009.

The mobile app, which also happens to be an ideal option for users seeking to send money to family and friends, claims to be the most flexible platform to trade in digital currencies for free.

Binance

Binance is a crypto exchange offering a wide range of options as far as crypto trading is concerned. In 2018, the exchange was said to be the biggest crypto trading platform on earth in trading volume.

Today, Binance integrates a long list of virtual currencies, including Bitcoin, Ethereum, and Binance Coin (BCN). The platform charges highly competitive fees at only 0.1 percent for all trades – users seeking to trade in BCN are rewarded with a 50 percent discount on fees for all trades.

As a downside, Binance is not insured, and this can be a reason for concern for some users seeking to trade in cryptocurrencies safely.

LocalBitcoins

LocalBitcoins is a very unique place, and among the top places where users can buy and sell cryptocurrency safely and fast. Considering the fact that this platform has been in existence for quite a long time, its uniqueness is reflected on the fact that users across the world can exchange crypto with each other for cash.

LocalBitcoins has a number of integrated payment methods, including PayPal, Western Union, cash transfer and cash by mail. The already-mentioned payment methods attract various charges, along with a plethora of possible risks disposed to both buyers and sellers of cryptocurrency.

All the while, it is highly recommended that users avoid the temptation to store their crypto in a LocalBitcoins wallet for long periods of time. Instead, it is advisable that users find other alternative means of storing digital coins in secure wallets.

Paxful

Paxful falls in the league of the world’s oldest and most reputable peer-to-peer crypto exchanges. Just like LocalBitcoins, the platform is designed to enable the safe trading of Bitcoin by users seeking to operate within an escrow-backed environment – although it boasts additional flexibility.

Essentially, Paxful allows users to buy and sell cryptocurrency using more than 300 available payment options. The options include Amazon gift cards, iTunes gift cards, debit/credit cards, cash deposits, PayPal and Skrill.

Importantly, the Paxful Bitcoin Wallet app happens to be the much-needed companion tool to all functions appertaining to the peer-to-peer Bitcoin marketplace. It has simplified the process of crypto trading – users find it very easy to trade and store Bitcoin using a personal mobile digital currency wallet, as well as finding useful information concerning updated Bitcoin-to-fiat conversion rates.

Kraken

Kraken is 9-year-old crypto exchange with U.S. roots. The platform offers services related to digital currency to fiat trading, including the fact that Kraken furnishes the computer software system Bloomberg Terminal with crypto price information.

This 2020, Kraken’s portfolio has grown to accommodate the trading of 40 digital assets across 48 states in the U.S., along with about 176 countries of the world.

The platform’s website is equipped with a robust support guide to uphold positive user experiences – enabling interested parties to troubleshoot problems relating to account verification and crypto trading.

According to online discussions regarding the most recommended crypto trading sites to choose, Kraken’s biggest selling point is the low fees it charges for crypto trading, the wide range of features gears towards quality service and strong security.

Conclusion

In Conclusion there is a large number of exchanges that can be used to purchase cryptocurrency. All of them have their own benefits but what people should be looking at is the price. Since all of the exchanges mentioned in this article are well established there are no trust concerns. We do not advice anyone to keep money on exchanges since it is safer to keep your coins in cold storage.

Leave a comment

Captcha