[vc_row][vc_column][vc_column_text]If you are like most people, the first thing that comes to mind every time the word Bitcoin is mentioned is the legacy digital currency’s performance. What is its current price or its performance in the last three or six months? What are the immediate future projections and how they can be leveraged to make it a sound investment? And all these are influenced by the fact that the legacy coin has over the years positioned itself as one of the most viable investment options in the money markets. This was after posting an impressive ROI of over 10,000% since establishment and over 300% this year to date.
Bitcoins profitability has played a critical role in helping spread awareness about cryptocurrencies and their underlying blockchain technology. These would then birth different crypto trading marketplaces, where you can buy cryptocurrencies. But some have since been rocked with never-ending cases of hacking and manipulated trade volumes. Most have, however, come out as formidable crypto exchanges and marketplaces with all the features of a traditional money market, even with the absence of crypto regulation. The trick to a relatively straightforward, inexpensive, and safe bitcoin purchase is premised on your ability to spot and identify the right exchange.
And to help you arrive at the best decision when it comes to bitcoin investment, we have compiled a list of what we believe to be the seven best bitcoin marketplaces. These include:
Coinbase is without a doubt the biggest Bitcoin platform, offering more than just a crypto wallet, but also an exchange all in one account. It has risen to become one of America’s most influential exchanges over time as it offers a great starting point for new investors. It also supports a host of other digital currencies, including Bitcoin Cash, Litecoin, and Ethereum. Given the ease of transfers and currency conversion, it is expected that Coinbase will only get better.
As of now, it takes a straightforward process to sign up and link to your bank account where you can be able to transfer finances in and out of your account. That is not all; you will be able to convert your dollars into Bitcoins and, then back to dollars when you please. It is an exchange trusted for prioritizing customer convenience and the ability to provide financial solutions securely. Customers can access it through the web or a customized mobile app.
What premiered as a free stock brokerage company, has now grown to become a big name in the crypto space. Robinhood has maintained its free status to date, operating as a free trade platform for bitcoin and other popular digital currencies such as Ethereum. To clear the confusion that may arise, the Robinhood Stock and Robinhood Crypto are two different entities, but your coins remain securely in the same Robinhood account that manages stocks.
Initially, Robinhood was only accessible as a mobile-only platform, but it has developed a web version opening up diverse access options for customers. It remains one of the best mobile platforms; nonetheless, given, you can access and manage your account absolutely free.
However, Robinhood crypto is only functional in 16 states, but it has already reported plans to cover more countries in the near future.
Binance is a big name in the crypto industry, perhaps due to its own Binance Coin (BNB). It ranks among the best places to buy Bitcoin mainly due to the low trading fees and the broad range of supported digital currencies other than the BNB. With Binance, you can convert coins into different currencies, making it a popular choice for new and established investors. Supported digital coins include; Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Skycoin, EOS, Ripple, among so many other currencies.
Binance may be an affordable trading option charging only 1 percent for trades, but it is an uninsured platform. Back in March 2018, it was reported that some suspicious trades were detected and reversed, raising customer security concerns even further. Its Android mobile app has also been associated with some bugs, with a good number of users reporting delayed withdrawals. That aside, Binance remains a great stepping stool for wannabe crypto investors.
#4. Square Cash
The list of places you can buy and sell Bitcoin at zero charges keeps growing, and we can attribute that to competition and increased crypto awareness among prospects. Square Cash operates mainly as a mobile app offering free trading options to its users. It ranks as a great money transfer option where you can quickly send out money to friends and family at no charge. It is in many forms similar to Venmo, only better in terms of providing free Bitcoin trading.
Owned by Square, your Bitcoin is held strictly in your Square account, and there is no way you can keep your coins outside. Square holds them on your behalf, but if you wish to send your currency to another wallet, it facilitates the process. With a Square account, your buying is limited to $10,000, but you can make as many sales as possible.
If you’re looking to make quick and smooth transactions, Coinmama is your ultimate digital wallet. Operating in 188+ countries across the globe, and boasting over 1,000,000 customers, this could undoubtedly be the place to buy Bitcoins. You can buy and sell numerous digital currencies in either USD or EUR straight and easily from your account.
Security-wise, Coinmama is a trusted wallet in that it goes the extra mile to fund user trades from its holdings in addition to buying and selling on the open market. You won’t be getting this sort of service from anywhere else. Another feature that makes it unique is the fact that it is a registered financial institution in the United States, so you can be sure you’re trading with a legitimate entity.
However, Coinmama is not the cheapest exchange out there as it charges a market-high 5.9 percent on its trading, but it makes up for the high fees with the swift real-time transactions that are not available across all platforms.
#6. Coinbase Pro
Formerly GDAX, Coinbase Pro is another pick for the most reputable platforms for buying and selling Bitcoin. Depending on your trading volume, it charges between 0.1 and 0.3 percent. Persons trading below $10 million per month are charged 0.3 percent, while those going higher than that will only attract a subsidized 0.1 percent. That makes it the ideal platform for active traders who trade big volumes and want to make reasonable profits.
As you would expect, your funds are safer and insured since GDAX was absorbed into Coinbase. The majority of the coins are secured offline in physical form to protect them from fraud, and up to $250,000 of your money qualifies for insurance.
One of the factors investors consider when searching for a friendly exchange is affordability, and CoinExchange does not disappoint. It charges as low as 0.15 percent to convert Bitcoin into any other coin, which is much less than what you get from several other exchanges. With CoinExchange, you can trade in as many currencies as you’d possibly wish to, given, it is the platform supporting the most digital coins in this list.
Services are available on a simple-design website, but this is one exchange that guarantees robust security and user support for the longest time. While other exchanges are offering free trade, the low 0.15 percent rate is nothing compared to the kind of services you get from CoinExchange.
What reviewers have pointed out as the most significant setback, however, is the absence of a mobile app, mean security policies, and the considerably lower trading volumes compared to other top platforms.
Crypto trade is a highly volatile trade that should be approached with utmost caution. It is always advisable to invest with money you can afford to lose. Though everything points towards a bright Bitcoin future, you must make efforts to begin your crypto trading career on the right footing. Today, there are hundreds of places that you can buy Bitcoin, but they are not all that they claim to be. If you are new in the crypto world, seek advice from the right people before getting into business with any exchange. Some companies are there to milk gullible customers dry with fraudulent practices, but it may take the eye of a trading pro to detect them.
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