Top 5 Places to Buy Cryptocurrency

Apr 10, 2023 Blog

Top 5 Places to Buy Cryptocurrency

When you’re looking to buy bitcoin, it’s important to find a place that offers the best customer service and security. It’s also a good idea to choose an exchange that is insured against hacking and theft.

You can buy bitcoin via a number of online and offline platforms, including exchanges, ATMs, and peer-to-peer (P2P) sites. Some of these require a government-issued identity, while others allow you to use your credit card or bank account.

1. Crypto exchange Coinbase

If you’re looking for an easy and fast way to buy bitcoin, then Coinbase is a great place to start. It’s also one of the most trusted crypto exchanges with high liquidity, a wide range of products and a solid security track record.

You can buy cryptocurrencies on Coinbase using a credit card or PayPal, and they also offer quick withdrawals to your bank account. However, you will have to pay a fee when buying or selling coins through Coinbase, which can add up quickly.

Before you can make your first purchase, you’ll need to sign up for a Coinbase account. This is similar to opening a bank or brokerage account online, and you’ll need to verify your identity by providing your personal information and a government ID.

2. Crypto exchange eToro

eToro is an online trading platform that allows users to invest in stocks, ETFs, and cryptocurrencies. It also provides traders with a range of features, including CopyTrader and Smart Portfolios.

Getting started with eToro is easy. First, deposit funds into your account via a credit or debit card, bank transfer, or PayPal.

Once your money is deposited, you can then start making trades. eToro also offers a demo account to help you practice.

Traders can also copy the trades of successful eToro traders using its CopyTrader feature. This is a great way to learn how to trade while avoiding the risk of losing large sums of money.

3. Crypto exchange LocalBitcoins

LocalBitcoins is a peer-to-peer exchange that allows anyone to sell and buy bitcoins. It’s similar to Craigslist in the sense that you can post a buy or sell ad, and anyone who’s interested can contact you about making the trade.

The platform also acts as an escrow service, so that your coins are held until you confirm that you’ve received payment. This protects both parties, and it’s a good way to find sellers who are trustworthy.

In addition, LocalBitcoins has a reputation system that shows a percentage score on your profile to let other users know about your past trustworthiness. It also offers support and conflict resolution in case a user has problems with a trade.

4. Crypto exchange Bybit

Bybit is one of Canada’s top regulated cryptocurrency exchanges. They’re a Money Services Business (MSB) registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

In addition, they have a strong focus on security and are known for their responsible cold storage policy, which keeps your funds out of reach of hackers. Additionally, they have a digital asset insurance plan that will reimburse you for losses.

Bybit  also has a dedicated support line that you can call for help, as well as email support that typically replies within 12 hours. They’re a great place to start your crypto journey.

5. Crypto exchange Bitfinex

Founded in 2012, Bitfinex is one of the oldest and most reputable crypto exchanges worldwide. It offers a wide variety of trading options for both fiat and crypto.

In addition to Bitcoin, Bitfinex also supports several other major cryptocurrencies like Ethereum, Ripple, and EOS. The platform also offers comprehensive trading options such as margin trading and funding.

Due to a few hacks in the past, Bitfinex takes extra precautions to ensure the safety of users and their funds. The platform has a number of security features that include storing 99.5% of user funds in cold storage, DDoS protection, database encryption, and regular backups.