Where to Buy Bitcoin and Other CryptocurrenciesReading Time: 5 minutes
This article first appeared at CoinCentral.com
With the price of cryptocurrencies plummeting in the aftermath of Bitcoin’s ascent to $20k and crypto getting its first taste of mainstream attention, right now could be the best time to buy — before the Bitcoin market begins its next growth cycle.
Whether you want to buy .01 Bitcoin or 10+ Bitcoin, our guide will show you the best sites and exchanges for buying Bitcoin and other cryptos.
There are over 200 exchanges listed on coinmarketcap. The right exchange for you will depend on location, the tokens you wish to acquire, payment options, local currency, and other variables. I’ll go over some of the most popular choices for buying your first cryptocurrencies, provide links to more in-depth reviews, and other resources for exploring the world of cryptocurrency exchanges.
Where To Buy Crypto
First things first, you may want to check CoinAtmRadar to see if there are any Bitcoin ATMs available in your area. These are kiosk’s allowing one to exchange their cash for Bitcoin, and possibly other cryptocurrencies. In some cases, they even allow you to exchange Bitcoin for cash. There are over 3500 of them around the world, found in over 70 countries. Note: Bitcoin ATMs are known for having high fees.
Coinbase is an easy way to turn your cash into crypto for users from 31 Countries, with reasonable fees; having wallets in USD, EUR, and GBP.
Coinbase supports the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) via Credit, Debit, or Bank Transfer, and has easy sell options in supported countries.
As a cryptocurrency business that’s based out of San Francisco, Coinbase adheres to a number of laws and regulations:
- Registered as a Money Services Business with FinCEN.
- Compliant with the Bank Secrecy Act.
- Compliant with the USA Patriot Act.
- Compliant with state money transmission laws and regulations.
By abiding by these laws and regulations, Coinbase naturally attracts newbies who find comfort in its safety.
5PM. Direct deposit hits. Do you buy Bitcoin, or do you cash out instantly to another bank? With Cash App, you decide.
When Jack Dorsey came out with his believe in and full support of Bitcoin, the cryptocurrency markets rejoiced!
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Changelly has a wide variety of deposit and withdrawal options for converting cryptocurrencies. It uses a bot to find the best rates available comparing different exchanges, and allows you to trade directly between various cryptocurrencies, with reasonable fees. Its ability to exchange cryptos directly, avoiding the necessity of first changing to base currencies such as BTC, ETH, or USDT. This is a similar to shapeshift, with the additional ability to purchase of cryptocurrencies with debit or credit from any country. Changelly doesn’t support fiat withdrawal, but its ideal for the purchase and exchange between a wide variety of cryptocurrencies.
Coinmama has long been a top choice of cryptocurrency investors wanting a fast and easy way to buy Bitcoins. The company, which was founded in 2013, allows users to purchase Bitcoin and Ethereum using credit and debit cards. They support the purchase of Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Cardano with visa or mastercard from 180 countries.
The downside to this Slovanian exchange is their high fees. Credit card purchases come with a roughly 12% fee.
LocalBitcoins opened in 2012, connecting users to a peer-to-peer marketplace allowing them to buy and sell Bitcoin with cash, wire transfer, PayPal and many other methods. Local Bitcoins is a place where you can meet other people interested in buying and selling Bitcoins. As such, you should use caution when selecting traders to conduct a transaction with. When you find someone selling Bitcoins with the rate and terms you like, you send them a message to negotiate the transaction. You can purchase Bitcoin with a bank transfer, PayPal, pre-paid cards, gift cards, and other methods. In some cases, you can even meet in-person, paying cash in exchange for Bitcoin (that’s where it gets the name). Local Bitcoins doesn’t always offer the best exchange rates, however it offers a diverse way to buy and sell Bitcoin for those who want to keep their transactions private and allows people from different countries to buy Bitcoin with their local currency.
Buying other cryptocurrencies
Unlike the rest of the sites mentioned so far, Binance does not let you purchase via bank transfer or credit. Binance only allows you to trade cryptocurrencies for other supported coins. Even though you can’t use Binance to buy Bitcoin or other cryptos directly, it is the most trusted and popular exchange for trading cryptocurrency. Binance supports a wide variety of tokens, has reasonable fees, has a both a user friendly and advanced trading interface. Overall Binance is a great place to diversify your holdings and doesn’t prohibit trade by users from any country.
Bittrex has the widest variety of cryptocurrencies out of the exchanges listed so far with over 250 trading pairs. Bittrex is one of the most popular exchanges, however, it only accepts fiat deposits valued over $10,000, and doesn’t support fiat withdrawals.
This guide is a good start, but don’t take our word for it! Whenever interacting with a new cryptocurrency service it’s important to do your own research. The first sites listed in this guide are among of the most popular on-ramps for buying your first cryptocurrency. Besides Binance and Coinbase, there are a plethora of exchanges to choose from when diversifying your crypto holdings. When I’m interested in a new cryptocurrency, I look it up on CoinMarketCap to see which exchanges carry it. When trying out new crypto-assets, you can quickly find yourself with accounts at a wide variety of exchanges.
- Wallets and Backups: How to Secure Your Cryptocurrency
- How to Buy Bitcoin and Other Popular Cryptocurrency – CoinCentral
- Cryptoexchangelistings.com – Ranks exchanges based on your location.
- Cryptocurrency Exchanges Ranked by Volume – CoinMarketCap
- The Best Decentralized Cryptocurrency Exchanges – CaptainAltCoin