There is no denying the fact that bitcoin is the top-rated and old cryptocurrency. Therefore, if you want to invest in cryptocurrencies; bitcoin should always be amongst your top choice. It offers great liquidity because it is a widely accepted currency and is available at almost all the crypto exchanges across the world.
The selection of cryptocurrency for investment purposes is quite an easy decision. But, the selection of the exchange is a lot difficult because you are going to invest funds in it. Therefore, a good decision may prove rewarding while the bad decision may render you a great loss.
There are several ways to buy Bitcoin:
- Cryptocurrency exchanges: One of the most common ways to buy Bitcoin is through a cryptocurrency exchange. These exchanges allow users to buy and sell Bitcoin and other cryptocurrencies using different payment methods, such as bank transfers, credit/debit cards, and online payment platforms. Some popular exchanges include Coinbase, Binance, and Kraken.
- Bitcoin ATMs: Bitcoin ATMs allow users to purchase Bitcoin using cash or a debit card. These ATMs are typically located in public places and can be found using an online directory or app.
- Over-the-counter (OTC) trading: OTC trading refers to the buying and selling of Bitcoin and other cryptocurrencies directly between two parties, without using an exchange. OTC trades are typically larger in size and can be conducted through a broker or OTC trading desk.
- Bitcoin kiosks: Similar to Bitcoin ATMs, Bitcoin kiosks are physical terminals that allow users to purchase Bitcoin using cash or a debit card. These kiosks are typically located in public places and can be found using an online directory or app.
It is important to carefully research and compare the fees, security, and reputation of different options before buying Bitcoin. It is also important to diversify investments and not to invest more than you can afford to lose.
Jump to Sections
Things to Keep in Mind While Selecting Crypto Exchange
There are a lot of crypto exchanges trading in various countries across the world. The selection of the good one depends on the person who intends to invest in cryptocurrencies. The following are some of the factors that can help you to select the best bitcoin exchange.
The very first and the most important thing to keep in mind before selecting a bitcoin exchange is the liquidity of the exchange. Liquidity is the ability of the exchange to sell bitcoins without affecting the price. This always tends to decrease the price of the coin and more buyers buy these. This means that the greater the liquidity is, the greater the number of buyers will be. To check the liquidity of any exchange you should research the data of the top few crypto exchanges. Check the number of bitcoins traded over the past 30 days. The greater the trading volume is, the more liquidity the exchange has.
The second important thing to keep in mind while selecting a bitcoin exchange is the fees that it takes on the trading of the coins. Almost, all the crypto exchanges across the world take fees either greater or less. This fee is the incentive for the exchanges to help them run their business. Here, one thing worth mentioning is that crypto exchanges do not take fees at flat rates. Instead, the fee is taken as percentages. This percentage model tends to increase the value of bitcoins over a period of time. The fee also has an inverse relation with trading volume. It increases as the trading volume of the cryptocurrency decreases and it decreases with the increasing volumes of the cryptocurrency sold.
The proximity of the bitcoin exchange has got much importance nowadays as more and more countries are trying to regulate these. The geographical location of the cryptocurrency exchange will enable you to understand the rules that the exchange has to follow due to its location. Nowadays, Japan is at the top in crypto-friendly countries and exchanges in it have much importance. Here, it is also important to mention that bitcoin is a lot of familiar currency and most of the governments are thinking to adopt and regulate it.
Before investing in any crypto exchange, always check its transparency. This is because there are many exchanges across the world that have hidden fees and charges. Also, the selling and buying procedure of bitcoins is not understandable. Therefore, always check the transparency before investing in it and also if the fee is taken with a ratio to trading volume. This is because fees are taken in ratio with trading volume always prove beneficial for investors.
There are many other things to be looked for before selecting any crypto exchange. These are the accessibility of the exchange and also the speed at which you would get bitcoins in your wallets. The exchange rates and the exchange’s procedures of knowing its clients and anti-money laundering techniques are also important in this regard. Nowadays, it is also much important to consider the currencies that a particular crypto exchange accepts and whether it allows you to buy bitcoins through credit/debit cards or not. What are the exchange rates for various currencies the exchange is offering is also another important thing to consider.
Top Cryptocurrency Exchanges across the World
Coinbase is the top cryptocurrency exchange across the world located in San Francisco, United States. Millions of customers are using this exchange globally because it offers them to buy, sell, and trade bitcoins securely. The exchange is a lot popular among the investors in the United States, Canada, Australia, Singapore, the United Kingdom, and many other European countries. This exchange also accepts payment through debit/credit cards and takes a flat 3.99% fee on all the purchases and sales. Here, it is important to mention that this fee is less than all other exchanges in the US and UK.
Sometimes the exchange also offers a bonus of on the purchase of bitcoins worth $100 or more. You can follow the following steps to buy bitcoins from this exchange.
- First of all, you have to create an account with the exchange.
- As a payment method, you can add your credit/debit card to your profile.
- The exchange will register you after necessary verification of your account.
- Now, you can buy bitcoins through your credit/debit card.
The website has a beautiful user interface. There are about 30,000,000 users of this exchange out of which 75,000 are merchants and 15,000 are developer apps. The following are the pros and cons of this bitcoin exchange.
- Beautiful user interface.
- High liquidity with maximum buying limits.
- Reasonable fees.
- A huge database of trusted customers.
- Provides the “Instant Buy” facility through debit/credit cards.
- Quite easy to use for beginners.
- Purchases through bank accounts take 3-5 days to transfer bitcoins to your account.
- Tracks the spending of funds.
Kriptomat was founded in 2018 by a seasoned team of entrepreneurs with a highly successful track record. With decades of experience between them and a background that includes everything from a 50-employee digital marketing agency to a robust CRM software solution, the team at Kriptomat is well equipped to deliver an incredible trading experience.
Kriptomat is an EU-regulated custodial fiat-to-crypto exchange. The company is registered in Estonia, one of the world’s most advanced countries in terms of both cryptocurrency regulation and supporting technology companies.
Offering a secure and easy-to-use platform designed for newcomers to the crypto world, Kriptomat is accessible to customers in more than 80 different countries. It has secured numerous world-renowned digital currency and security licenses while operating with no recorded hacks or data leaks to date.
The platform’s identity verification process is quick and painless, meaning most users are up and running in 5 minutes or less. Pair that with relatively low trading fees that every user is sure to enjoy, and Kriptomat is easily one of the best cryptocurrency exchanges on the European market.
- The interface is very user-friendly and ideal for beginners.
- Kriptomat offers some of the lowest trading fees of any exchange.
- The exchange is available in more than 80 countries with the support of 30 different languages, making the exchange a global service.
- Kriptomat supports over 30 of the most popular cryptocurrencies on the market. The exchange is constantly adding new assets as requested by their community.
- Kriptomat pertains to international security standards and has been granted several licenses and is compliant with strict data privacy laws such as GDPR.
- Deposit and withdrawal are not available for all cryptocurrencies. Due to regulatory reasons, a few cryptocurrencies can be bought and sold within but not transferred to and from the platform.
- There are no advanced charting features. The exchange is powerful in its simplicity but may feel limited to more experienced traders.
- The reward and loyalty program of Kriptomat could be improved. They currently offer 10 EUR for referring a friend.
With a credit card or SEPA bank transfer, you can purchase Bitcoin directly from Kriptomat. A fast, simple, and safe way to create or expand your crypto portfolio, all it takes is a few simple clicks to make your purchase.
Buying Bitcoin on Kriptomat, step-by-step:
- Create your Kriptomat account: After initial registration, be sure to check your email for your account verification link.
- Verify your identity: Before you buy Bitcoin from Kriptomat, you have to verify your identity. Simply submit a copy of your national ID or passport and take a selfie — that’s it!
- Fund your account: Select a payment method and deposit your funds into your account. You can make the payment through a Credit/Debit card, bank transfer, Sofort, Skrill or Neteller.
- Buy Bitcoin: Select Bitcoin from the list of available digital currencies and click buy. All done! You have successfully made your first purchase on Kriptomat. The BTC is automatically transferred to your account as soon as you click BUY!
This is another top-notch exchange that enables the users to buy bitcoin and ether through credit/debit cards. One of the most attractive features of this exchange is that you can use it from any part of the world. Moreover, this exchange is also preferred by many traders because it allows them to purchase bitcoins by exchanging their local currencies. Although the services of this exchange are available worldwide, yet some countries cannot use its full functions.
The exchange takes 6% fee on purchases through credit/debit cards. It takes higher fees due to the risks involved in this kind of payment. This exchange offers greater limits for buying bitcoins. You can buy $5000 worth of bitcoin every day but with a maximum limit of $20000 worth of bitcoin in a month. For purchasing bitcoins through this exchange, you will have to register yourself with the website. After the necessary verification of your account, you can add your credit/debit card as a payment method and can purchase bitcoin.
Here, it is also worth mentioning that this exchange offers one-way trade. This means that you can only buy bitcoins through this exchange but cannot sell those bitcoins back to the exchange. The following are the pros and cons of buying bitcoins through this exchange.
- It has a beautiful and user-friendly interface.
- Works in all countries across the world.
- Accepts payments through credit/debit cards.
- Allows buying bitcoins by exchanging any local currency.
- Offers the highest daily and monthly limits for buying.
- Transaction times areis very fast.
- Takes higher fees than many other exchanges.
- Offers no bitcoin selling facility.
This Czech based crypto exchange has emerged as a prominent exchange over the past few years. It is popular as the top crypto to crypto exchange across the world. There are more than 700,000 customers registered with this exchange. This website accepts payment in more than 35 currencies including US Dollar and Euro. If you want to exchange one cryptocurrency with the other, there is no better exchange than Changelly.
This exchange is based on a robot that is linked with top crypto exchanges of the world. This robot comes up with the best possible rates within seconds. This website does not take fix fees. Instead, it takes 0.25% along with networking fees. It takes 5-30 minutes to transfer bitcoins in your wallets. Here, it is important to mention that the time for the transfer of bitcoins to your wallets may vary depending on the speed of the blockchain network.
Changelly is a lot famous for providing high limits. This means that you can buy bitcoins of any worth. The exchange allows you to buy bitcoins of unlimited worth. The two factors of authentication make Changelly one of the secure websites. The account opening method on this website is also similar to others and is a lot easier. The following are the pros and cons of this bitcoin exchange.
- High number of cryptocurrencies on offer
- Beautiful user-interface and also easy for beginners.
- Takes minimum fees for crypto to crypto exchange.
- A lot secure due to two factors authentication.
- Trusted by users all across the world.
- Takes higher fees on direct purchase of cryptocurrencies.
After reading the entire article, we can easily sum up that Coinbase is one of the top crypto exchanges because it allows you to buy bitcoins through accepting payments with different methods. It has a large customer database which proves that it has high liquidity. The platform is quite user-friendly even for the beginners. It provides the facility of online insured wallets. Moreover, it takes minimal fees for the transactions.