Bitcoin is the infamous digital currency created in 2009 that basically circumvents banks and middle men. With Bitcoin becoming more and more popular, and with the value of Bitcoin right around an all time high, this is the perfect time to get into buying and selling bitcoins.
But where do you start? In the complex world of Bitcoin, you need to find somewhere that is trustworthy and offers the exchange you need.
To help you make sense of where to start, we are going to walk you through 5 of the best Bitcoin exchange websites.
1. Best Bitcoin Exchange Starts with Coinbase
Coinbase is one of the most widely used and well-known Bitcoin exchange sites which is why we are putting it first.
With around 6 million users across 33 countries including the US, Canada, the UK, parts of Europe, and Singapore, it is one of the biggest and best Bitcoin exchange sites. It also has a great reputation, which makes it more trustworthy.
Through Coinbase, you can buy bitcoins and you can also buy and trade with other users through the Coinbase exchange. It’s very flexible with how you purchase Bitcoin: you can use a debit card, a credit card, a bank account, and more.
There are a few critiques in that it is not available worldwide like some other similar exchange sites, and some have said the online verification process is rather involved.
But overall, Coinbase is the number one exchange site for its ease of use, its availability in many countries, and its great reputation.
Cex.io is another large and highly reputable exchange site. One of the pros to Cex.io is it accepts USD, EUR, RUB, and Ethereum, which opens up its market to many different currencies and countries.
With the overall low fees and the ability to use either a credit card or a bank transfer, this site is easy to use and beginner-friendly.
However, there is a longer verification process if you want to increase your buying limits, which could be a negative for some people.
This exchange site is interesting because it is focused solely on person-to-person (p2p) trades and transactions. It is available worldwide, can use many different types of payment methods, and doesn’t require verification.
You basically work directly with whoever you’re trading with, and LocalBitcoins makes sure that the trade goes through.
A downside to this type of exchange is the risk that comes with anonymous trade deals: there have been reports of scammers. These types of p2p transactions can also take longer.
CoinMama is very similar to Coinbase and Cex.io with some pros that set it apart.
CoinMama is known for its fast transaction time, it’s high buying limits when using a debit or credit card, as well as its availability worldwide. You can also use MoneyGram or Western Union cash deposits to purchase bitcoins.
The downside to this site is the fees for using a debit or credit card are rather high.
Bitstamp is another highly trustworthy and respected Bitcoin exchange site that is only available in the EU and the US. We’ve included this on the list of best Bitcoin exchange sites because it is unique compared to the others we have gone over.
This site is ideal for larger purchases and for people with experience in bitcoin exchange. It’s not as user-friendly as the other sites, but its low fees and usability for large purchases have earned it a spot on our list.
With so many Bitcoin exchange sites out there, it can be hard to know where to start. We have compiled this list of trustworthy and reputable sites so you can get into the Bitcoin market while it’s hot.
If you need any more information about Bitcoin or other cryptocurrencies, don’t hesitate to contact us.
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