HOW CAN YOU BUY CRYPTO?
Crypto can be purchased through a variety of platforms, including traditional investment platforms, crypto exchanges, select mobile payment services, and alternative platforms. Investors should research the fees and security considerations associated with each platform before buying.
Cryptocurrency can be bought directly from a major cryptocurrency exchange such as Coinbase or Binance, or through certain broker-dealers. On Coinbase, users can buy cryptocurrency by tapping the asset they’d like to buy, entering the amount they’d like to buy denominated in crypto or their local currency, and then confirming the purchase.
Alternatives ways to buy cryptocurrency include peer-to-peer marketplaces and ATMs.
THE 10 MOST POPULAR CRYPTO EXCHANGES AS OF JANUARY 2023
Coinbase}
- Coinbase is a digital currency exchange and wallet provider based in San Francisco, California.
- It allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Litecoin using fiat currencies.
- Users can also store their cryptocurrencies in a Coinbase wallet, which is protected by advanced security measures such as two-factor authentication and biometric login.
- The exchange also offers a mobile app for iOS and Android devices, which allows users to access their wallets and make transactions on-the-go.
- Coinbase also offers institutional trading solutions such as Coinbase Pro, which is aimed at professional traders and market makers.
- It also provides a developer platform with APIs and other tools for building applications and services on top of its platform.
- The exchange offers users an insurance coverage of up to $250,000 for digital currency held in online storage.
- The exchange is also compliant with regulations and laws of different countries and jurisdictions, making it a reliable option for those looking to buy and sell cryptocurrencies.
- The exchange also provides educational resources and guides for users to learn about different cryptocurrencies and blockchain technology.
Features: It is one of the most popular and user-friendly crypto exchanges, offering a wide variety of cryptocurrencies to trade, including Bitcoin, Ethereum, Litecoin, and others.
Benefits: It is a fully regulated exchange with a high level of security, and it is easy to use for beginners. Coinbase also offers a crypto wallet service where you can store your crypto assets.
Binance}
- Binance is a popular cryptocurrency exchange platform that allows users to buy and sell a wide variety of digital assets.
- Binance offers a user-friendly interface and a wide range of trading pairs.
- Binance also offers margin trading, staking, and a native token (BNB) that can be used to pay for trading fees on the platform.
- Binance also has a mobile app available for both iOS and Android.
- Binance also offers a feature called “Binance Lending” which allows users to lend their crypto assets to earn interest.
- Binance also has a feature called “Binance Savings” which allows users to earn interest on their idle crypto assets.
- Binance also has a feature called “Binance Staking” which allows users to earn rewards for holding and staking certain supported crypto assets.
- Binance also has a feature called “Binance Launchpool” which allows users to farm new tokens and gain rewards.
- Binance also has a feature called “Binance Academy” which is an educational platform for users to learn about cryptocurrencies and blockchain technology.
- Binance also has a feature called “Binance Charity” which allows users to donate to charitable causes using their crypto assets.
- Binance also has a feature called “Binance Research” which is a platform for users to access institutional-grade research and analysis on various cryptocurrency projects.
Features: One of the largest crypto exchanges by trading volume, Binance offers a wide variety of cryptocurrencies to trade and also offers margin trading and staking options.
Benefits: It has a user-friendly interface and low trading fees. Binance also offers a crypto wallet service where you can store your crypto assets.
Kraken}
- Kraken is a leading cryptocurrency exchange that allows users to buy, sell, and trade a wide range of digital assets.
- It was founded in 2011 and is based in San Francisco, California.
- It offers a user-friendly interface and a wide range of features for both novice and advanced traders.
- Some of the features include margin trading, futures trading, and staking.
- It also offers a mobile app for trading on-the-go.
- Kraken has high security measures in place, including two-factor authentication and PGP email encryption.
- It also has a strong reputation for its customer support and has a dedicated support team available 24/7.
- It supports a large number of fiat currencies and digital assets including Bitcoin, Ethereum, Litecoin, and many more.
- It also offers a crypto-to-crypto trading service and a crypto-to-fiat trading service.
- It also offers an OTC (over the counter) trading service for high-volume traders.
- It offers high liquidity, fast trading execution, and low fees.
- It also has a strong regulatory compliance, it is fully compliant with the laws and regulations of its operating countries.
Features: A leading crypto exchange that offers trading in a wide variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Benefits: Known for its high level of security and low trading fees. Kraken also offers advanced trading features for more experienced traders.
Bitstamp}
- Bitstamp is a European-based cryptocurrency exchange that was founded in 2011.
- It offers trading of several major cryptocurrencies including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple.
- It supports trading pairs in USD, EUR, and BTC.
- The exchange offers a user-friendly interface and mobile app for trading on-the-go.
- Bitstamp has a strong reputation for security and uses cold storage to ensure the safety of its customers’ funds.
- The exchange offers a high-level of customer service and support, including 24/7 live support.
- Bitstamp also offers margin trading, allowing users to trade with leverage.
- It supports two-factor authentication and PGP encryption for added security.
- The exchange is fully licensed and regulated by the Luxembourg Financial Industry Supervisory Commission (CSSF).
- Bitstamp also offers a loyalty program, where users can earn lower trading fees by trading more frequently.
Features: A well-established crypto exchange that offers trading in Bitcoin, Ethereum, Litecoin, and Ripple.
Benefits: Regulated by the Luxembourg Financial Industry Supervisory Commission (CSSF) and known for its high level of security and user-friendly interface.
eToro}
- Etoro allows users to trade a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
- The platform offers both a web-based and mobile trading experience.
- Etoro allows for both manual and copy trading options.
- The platform also offers a social trading feature, where users can follow and copy the trades of other successful traders on the platform.
- Etoro also has a built-in wallet for storing and managing users’ cryptocurrency assets.
- Etoro has a user-friendly interface and offers a wide range of educational resources for beginners to learn about trading cryptocurrencies.
- The platform offers competitive trading fees and a range of payment options for depositing and withdrawing funds.
- Etoro is regulated by multiple financial authorities, providing added security for users.
- Etoro also offers staking options for certain cryptocurrencies.
Features: An online trading platform that allows you to trade in a wide range of assets, including cryptocurrencies, stocks, commodities, and more.
Benefits: Offers a user-friendly interface and a social trading feature that allows you to copy the trades of other successful traders.
Bitcoin IRA}
- Allows individuals to invest in Bitcoin and other cryptocurrencies within their traditional IRA or Roth IRA retirement accounts
- Offers a secure, IRS-approved way to hold and manage cryptocurrency assets
- Can potentially offer tax benefits and diversification opportunities for retirement savings
- Offers a variety of investment options, such as self-directed IRA and full-service IRA options
- Provides secure storage solutions for the purchased cryptocurrency, such as cold storage wallets
- Requires a minimum investment and may have additional fees and restrictions, such as early withdrawal penalties
- May have additional compliance and KYC/AML requirements compared to traditional crypto exchanges.
Features: A platform that allows you to invest in Bitcoin and other cryptocurrencies through an individual retirement account (IRA).
Benefits: A way to invest in crypto in a tax-advantaged manner, and also offers a wide range of investment options.
Robinhood Crypto}
- Robinhood is a commission-free trading platform for stocks, ETFs, options, and cryptocurrencies.
- Users can buy and sell cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on the platform.
- The platform also provides market data, charts, and research tools for users to make informed trades.
- Robinhood offers a mobile app for iOS and Android devices, making it easy to trade on the go.
- Users can also set up recurring investments in cryptocurrencies, allowing them to regularly purchase a set amount of a specific cryptocurrency.
- The platform also offers instant deposits, which allows users to make trades using funds they have recently deposited.
- Robinhood also offers a feature called “Robinhood Crypto Earn”, which allows users to earn interest on their crypto holdings by lending them out to margin traders on the platform.
- Users can also withdraw their crypto to an external wallet.
- The platform is designed for both experienced and novice traders, with an easy-to-use interface and educational resources for those new to crypto trading.
Features: A commission-free trading platform that allows you to trade in a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Benefits: No trading fees and user-friendly interface.
Webull Crypto}
- Webull Crypto is a crypto trading platform offered by the online brokerage firm Webull.
- It allows users to buy, sell, and hold a variety of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more.
- It offers commission-free trading for all supported cryptocurrencies.
- It has a user-friendly interface and mobile app for easy trading on-the-go.
- It offers real-time market data and charts to help users make informed trading decisions.
- It has a built-in portfolio tracker to help users monitor their crypto holdings.
- It also offers features such as margin trading and stop-loss orders for advanced traders.
- It is only available to users within the United States.
- It is designed for individual investors, and not for institutional or professional traders.
- It provides support for a variety of payment methods including bank transfers, debit/credit cards, and wire transfers.
Features: A commission-free trading platform that allows you to trade in a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Benefits: Offers real-time market data and no trading fees.
TradeStation Crypto}
- Tradestation Crypto is a commission-free online trading platform for buying, selling, and holding cryptocurrencies.
- The platform allows for trading of a variety of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
- It offers a user-friendly interface for both beginner and advanced traders.
- Traders have access to real-time market data, charts, and technical analysis tools.
- It also offers advanced order types such as limit orders, stop orders, and conditional orders.
- Traders can also view their trade history and account balances on the platform.
- It also offers a mobile app for trading on the go.
- Tradestation Crypto is insured by the Securities Investor Protection Corporation (SIPC) which provides limited coverage in the event of the failure of the firm.
- The platform is also subject to regulatory oversight by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC)
- Tradestation crypto offers margin trading and lending which allows users to trade with leverage, this feature is intended for more advanced traders and carries additional risk.
Features: A crypto trading platform that offers advanced trading tools and features for experienced traders.
Benefits: Offers low trading fees and high level of security.
Coinmama}
- Coinmama is a cryptocurrency exchange platform that allows users to buy and sell various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
- The platform is available in over 180 countries, and supports various payment methods, including credit/debit cards, bank transfers, and e-wallets.
- Coinmama has been in operation since 2013, and is known for its easy-to-use interface and fast transaction processing times.
- The platform also has high buying limits and low fees for credit/debit card purchases.
- Coinmama offers 24/7 customer support, and is known for its high level of security, with two-factor authentication and SSL encryption.
- The platform also offers a mobile app for easy trading on the go.
- Coinmama offers a referral program that allows users to earn a commission for referring friends and family to the platform.
- Coinmama also offers a feature called Coinmama Wallet, a free and secure storage solution for all your cryptocurrencies.
- Coinmama also offers a feature called Coinmama Flex, which allows users to buy Bitcoin and Ethereum with a flexible payment plan.
CURRENT TRADING FEES
- Coinbase charges a fee of 1.49% for transactions.
- Binance has a trading fee of 0.8-1.2% for BTC and ETH in the US and Europe, otherwise mostly 1.8% for other coins.
- Kraken has a maker fee of 0%, taker fee of 0.26%, and volume discounts available.
- Bitstamp charges a trading fee of 0.25%.
- eToro has a simple 1% trading fee whenever you buy or sell crypto.
- Bitcoin IRA has an annual account management fee of $360 plus an additional $100 setup fee.
- Robinhood Crypto does not charge any trading fees.
- Webull Crypto does not charge any trading fees either.
- TradeStation Crypto charges no commission on crypto trades, but there is a $99 monthly platform fee and $0.0035 per share routing fees for stocks and ETFs.
- Coinmama charges 5.9% per transaction plus 5% credit/debit card processing fees[5].
There are many ways to be invested on the blockchain. Let’s explore what Defi is and how it plays a role on the blockchain.
No responses yet