Are you interested in the cryptocurrency business? Several investors are considering venturing into the various available cryptos. Is that your dream? If so, then you’ll need to begin from somewhere like the OTC crypto desk. You can’t invest in what isn’t there. This blog will discuss where you can buy and sell cryptocurrency and what to consider before choosing them. Buying and selling cryptos involves using one like Bitcoin (BTC) to exchange it for another like Ethereum (ETH), on a buy, sell or trade basis. In the process, you look for a crypto pair to perform a crypto-to-crypto or fiat currency-to-crypto exchange. Let’s discuss more below.
A Cryptocurrency Exchange
This is an online platform where you can purchase, sell, and trade crypto coins like BTC and ETH. There are several of them that can be used worldwide and some specific to particular regions only. Some of them allow trading through fiat currencies like Singapore Dollars, USD, or Yen, while others enable you to purchase cryptos using another similar digital currency.
There are crypto exchanges suitable for beginners or newbies and those designed for full-time traders or companies. Not every exchange avails all digital coins; thus, you may require using multiple platforms for the purchase and resale of your preferred currencies. There are different types of exchanges as below:
Brokers
These are best for beginners who are looking for a fast and straightforward way to buy crypto as they often offer the simplest and most efficient way to do that. They buy coins at wholesale rates, include their margin, and sell the coin to you. A cryptocurrency broker like Coinbase and CoinSpot provides the most straightforward entry into the digital currency market. But, their costs are higher than other alternatives; you’ll pay for a price more than the market rate and transaction fees.
Trading platforms
They are perfect for buying and selling a wide range of digital currencies. They are the most widely used and connect buyers with sellers at a fee. Most of them feature tools to assist clients in planning their trades and have lower fees/ exchange rates than brokers. The major drawback is that you can’t directly exchange one coin for any other; you only need to use the chosen platform’s trading pairs with Bitcoin and Ethereum being the most common. Binance is a well-known crypto exchange in this category.
Peer-to-peer exchanges
These online platforms enable people to trade directly on a peer-to-peer basis across the world. They only act as middlemen, and the sellers can set their prices. Their primary advantage is that you can quickly and incognito buy or sell coins using any trade kind or payment method you wish. Paxful and LocalBitcoins are some examples of these exchanges. However, their prices usually are higher than the market rates.
Best Overall Cryptocurrency Exchanges
After seeing the various types of exchanges’ categories available, let’s break down to some of the best. You can rely on these and be sure to have an excellent crypto investment experience. Here’s a list of the most reliable and efficient ones:
- Coinbase. It’s the most popular and largest crypto broker. It’s an international platform based in the USA and also operates in Asia, Europe, and Australia. With Coinbase, you can purchase Bitcoin, Ethereun, and Litecoin and keep them in secure wallets.
- Coinmama. It’s a highly trusted and easy-to-use platform that allows you to trade cryptos from about 188 countries. It’s legitimate, US-based exchange that promotes its authenticity. Nevertheless, it does charge higher fees than most others.
- Binance. For lower transaction fees and rates, Binance is a perfect choice. It also supports various currencies, including its own “Binance Coin (BNB),” EOS, TRON, ICON, Ripple, BTC Cash, and Skycoin.
- CEX.io. This is very secure and efficient to use platform. It allows for bank transfer and debit/credit card payments. You can also trade one crypto for others on CEX.io.
- Kraken. This is among the most significant platforms and is available in Canada, the USA, the EU, and Japan. It allows for both crypto-to-crypto and crypto-to-fiat currency pairs, unlike most exchanges. You can buy 17 digital currencies from Kraken, like BTC, BTC Cash, Tether, ETH, EOS, Litecoin, and Gnosis.
- LocalBitcoins. This is a perfect peer-to-peer platform that matches Bitcoin buyers and sellers. It offers fast and most private BTC transactions and can be used in Singapore, Canada, the US, UK, Europe, and many more.
- CoinHako. Based in Singapore, this broker offers an excellent way to buy Bitcoins. It’s trusted and backed by US investors. The fees charged are reasonable, and bank transfers from Malaysia or Singapore can be used.
- Bitit. Bitit is a French-based platform and one of the most efficient places to buy or sell cryptos. It supports several currencies like SGD, USD, JPY, EUR, CAD, and HKD. Further, it has a safe and private wallet support system.
- Bitfinex. This is a popular trading platform which allows users to exchange various cryptos like BTC, ETH, Litecoin. It also supports some professional trading features like margin trading.
- Bitstamp. As the first licensed exchange in the EU, Bitstamp is efficient for you, especially as a pro. It’s secure and supports more digital currencies. It also accepts bank transfers and debit/debit cards.
Bitcoin ATMs
Apart from the above exchanges, you can also buy cryptocurrencies like BTC with cash from Bitcoin ATMs that are becoming increasingly popular in various world regions. The procedure is similar to the ones used in cash ATMs; the only difference is that you deposit money and get it converted to Bitcoins. Several countries like Singapore and the USA have Bitcoin ATMs in various sections of large cities and approved regions. What of if you require funds to start your cryptocurrency investment? Thinking of obtaining a loan and comparing online? Check with Loan Advisor for assistance. Bitcoin ATMs are the easiest and quickest way to buy Bitcoins; there’s no need for account creation and money transfer. It’s also private and convenient as you can use them anytime. Even so, the transaction fees are higher than any possible place, and you might have to walk far if there’s no ATM near you.
The Bottom Line
Knowing and choosing the appropriate place to buy and sell cryptocurrencies is vital for the success of such investments. Today, there are numerous online platforms from which people can do that. It’s wise to be cautious whenever opting for any of them. Finding out what makes a crypto exchange suitable is necessary. The above discussed are some highly reliable and trusted exchanges. Please, always ensure you decide properly.
