In a little over 10 years, cryptocurrency, bitcoin to be specific has grown from just an obscure digital asset used by a few people into a leading payment method and great store of value that millions of people around the world believe it’s the currency of the future. Looking to invest in bitcoin, but aren’t sure where to buy the coin? If so, look no further! Here in this article, we’ve listed the best cryptocurrency trading platforms. Also, we have highlighted how to buy bitcoin and the best places to buy it from.
The low fees and detailed crypto trading platform makes Binance a great trading platform for anyone looking to buy bitcoin.
- Fees: up to 0.1%
- Account minimum: $10
It’s by far one of the user-friendliest platforms for newbies to trade bitcoin. You don’t need to open a separate account to send money or to buy stocks and bitcoin.
- Fees: vary for cryptocurrency
- Account minimum: zero
This platform trading ecosystem includes bitcoin, investing in stock, credit products, savings accounts, and loans. Unfortunately, SoFi has higher transaction fees for bitcoin than other products.
- Fees: 1.25% for bitcoin, $10 for stocks
- Account minimum: $1
Coinbase is a great crypto trading platform for US residents. Although it isn’t the cheapest platform to sell or buy crypto, it’s pretty versatile and accommodating.
- Fees: between $0.99 and $2.99
- Account minimum: $2
With Robinhood, you can sell and buy bitcoin or any other crypto, with no transaction fee. Furthermore, it has the best crypto selection.
- Fees: $0
- Account minimum: $0
Gemini offers a user-friendly app and a superb range of cryptocurrencies.
- Fees: between $0.99 and $2.99 for orders below $200
- Account minimum: $0
How To Buy Bitcoin
Nowadays buying bitcoin is simple and straightforward. Here are the steps you should follow:
- Choose the cryptocurrency-Trading platform. As mentioned earlier, there are several crypto-trading platforms where you can buy and sell bitcoin. Choosing the best crypto exchange depends on the features you’re looking for and what kind of investor you are.
- Open an account. Once you have chosen the right brokerage or exchange, the next thing you should do is create an account. You can do this by filling in some personal details, like your real name and contact details. You’ll then be prompted to submit proof of your address by uploading a copy of your identification card.
- Deposit some cash. Depending on the crypto platform you’ve joined, you’ll be requested to deposit fiat currency. The fees vary depending on the deposit method you’ve used.
- Buy bitcoin. Keep in mind that you don’t have to buy 1btc; you can choose the amount you wish to spend. The platform will then convert your fiat into bitcoin and that’s it.
Where To Buy Bitcoin?
There are many places where you can buy bitcoin, these include:
Crypto exchanges are currently in the business of processing the storage, sale, and purchase of cryptocurrency only. Gemini and Coinbase are good examples of the best crypto exchanges.
A few stockbrokers who allow crypto users to buy stocks, mutual funds, bonds, and other investment trends also allow traders to sell and buy cryptos. Robinhood is a great example of an online trader with crypto offerings.
A few of the trading platforms in the brokerage and cryptocurrency exchanges categories have apps. Nevertheless, some apps aren’t official brokerages or crypto exchanges that process the sale and purchase of bitcoin.
Factors To Consider When Buying Bitcoin
If you’re looking for a perfect place to purchase bitcoin, the right place is one that has all the features you’re looking for. Here are a few things you should consider when evaluating the best brokers, cryptocurrency exchanges, and apps.
- Fees: As mentioned earlier, the cost of selling and buying bitcoin might dramatically vary from one cryptocurrency exchange to another.
- Investment selection: Ensure the platform you wish to join offers you a chance to buy and sell bitcoin. Look for a platform with a wide range of cryptocurrency options.
- Educational resources: The biggest crypto trading platforms have an extensive range of tutorials, videos, and articles to help traders to learn more about bitcoin.
- Bonuses. The best cryptocurrency trading platforms offer lucrative welcome bonuses. And might have extremely low spending and deposit requirements.