Best Place To Buy Crypto Currency


Top cryptocurrency exchanges and platforms – updated December 2022

Investing in Bitcoin is all the rage but how exactly does a beginner become started?

Practise you demand to already have Bitcoin to invest?

Or practice you transfer money from your banking concern account to somewhere and convert it to Bitcoin? What does that look like?

We’ll respond all of these questions and list ten of the best cryptocurrency exchanges and platforms that let yous to buy Bitcoin and other tokens.

Going forrard, we’ll utilise BTC, which is the symbol for Bitcoin on exchanges and trading platforms.

If you just desire to earn a loftier return with crypto, you might consider a crypto savings account. These accounts pay upwards to 12%, but practice come up with risks (only like regular crypto investing). Check out the best cryptocurrency savings accounts here.

Editor’s Picks For Best Crypto Exchanges:

  • Best Overall:
    Gemini
  • Best For Trading:
    Binance
  • All-time To Earn Involvement:
    Crypto.com
  • Best For Altcoins:Uphold

Promo:
TradeStation. TradeStation is offering a $150 bonus if you open a new account and fund it with at to the lowest degree $500 in USD or BTC (and maintain that balance for ii months). Check out TradeStation hither >>


Top ten Bitcoin and Cryptocurrency Exchanges

All-time Crypto Exchanges and Investing Platforms

Here is our list of the 10 all-time cryptocurrency exchanges and investing or trading platforms. The cyrpto offers that announced on this site are from companies from which The Higher Investor receives compensation. This bounty may bear upon how and where products announced on this site (including, for example, the order in which they appear). The Higher Investor does not include all cryptocurrency exchanges or all crypto offers available in the market place.

1. Gemini

Gemini is a popular platform to invest in crypto as it was one of the first major exchanges, and today it’due south one of the largest by avails.

Gemini supports most major cryptocurrencies, has decent support and engagement, and pays competitive interest rates on avails, if y’all qualify.

Plus, when yous open a Gemini account, you can earn $10 in BTC after trading $100 in crypto.

Read our total Gemini review hither.

Pros

  • Very piece of cake to utilize app-based interface
  • One of the largest exchanges by assets
  • Solid support of major avails

Cons

  • Limited payment/deposit methods
  • Customer service can be mixed


best cryptocurrency exchange: gemini

Go up to $10 in BTC free!

2. Uphold

Uphold offers simple solution to trading multiple assets — open one account and trade multiple assets without making a trip back to greenbacks. If you’ve every traded crypto, you’ll know a lot of coins and tokens only merchandise in certain pairs, so you’re always going back to BTC or ETH. But on Uphold, y’all can trade multiple avails directly.

Plus, Uphold is one of the few exchanges that allows you to trade XRP, DOGE, and more.

Read our full Uphold review hither.

Pros

  • Unproblematic and transparent pricing structure
  • Lot’s of crypto tokens and even some stocks, including popular ones like XRP
  • Both desktop and mobile apps

Cons

  • Not equally easy to utilize as some on this list
  • Some reports of poor customer service


Best crypto platform: Uphold

3. Coinbase

Coinbase is by far the well-nigh popular and ane of the best cryptocurrency exchanges because yous can invest directly with USD. You can currently buy Bitcoin, Ethereum, and Litecoin and 30+ other coins and tokens on the platform. Furthermore, you tin can earn interest on your USDT, and you can earn token rewards by completing various activities.

Plus, when y’all open a new Coinbase account, you get a $10 BTC bonus after you merchandise $100 if you sign upwards using our link!

Read our full Coinbase Review hither.

Pros

  • Easiest to use interface
  • Good option of tokens and coins to invest in
  • High level of security and trustworthiness

Cons

  • High fees unless using Coinbase Pro
  • User does non control private keys in wallet
  • Slow to adopt popular new cryptocurrencies


Top cryptocurrency exchanges: Coinbase

Get $ten in costless BTC!

iv. Binance

A bully platform for getting into some currencies like Cardano or Neo. Non every bit like shooting fish in a barrel to use every bit some of the top platforms on this list, but they do accept one of the most robust trading platforms out at that place. They do have a decent mobile app, but again, not as piece of cake to use and we’ve been frustrated with information technology. Attempt Binance hither.

Note:
Binance.united states of america is the US-version of the platform and has express coins and tokens to invest in versus the international version of Binance.

Promo:Right now, yous can earn up to a $l bonus when yous open a Binance.united states account and trade at least $500.

Read our total Binance review hither.

Pros

  • Huge amount of supported coins and tokens
  • Fast transactions times
  • Low fees

Cons

  • U.Due south. has limited options compared to worldwide
  • Not available in all fifty states
  • Express client support


best cryptocurrency exchanges: Binance

Become upwards to $40!

5. Kraken

Kraken is one of the original crypto trading platforms and they accept a practiced selection of coins and tokens to trade and invest in. They also let margin trading. All the same, it’s a existent exchange, and non as easy to use as some of the acme platforms on this list.

Kraken is one of the few platforms on this list that allow yous to trade in DOGE and other, more risky, tokens.

Note:
Kraken offers a limited section of coins and tokens to US customers versus international customers.

Pros

  • One of the longest running crypto exchanges
  • Loftier level of security and trust
  • Large diverseness of crypto and tokens to trade

Cons

  • One of the more hard platforms to use
  • Difficulty with 2FA
  • Some reports of poor customer service


Top crypto exchanges: Kraken

6. Bitstamp

Bitstamp is 1 of the oldest and most well-established cryptocurrency exchanges. Founded in 2011, information technology’s been operating for over 10 years. It offers over lxx tokens that you can trade.

Bitstamp has a volume-based fee structure, allows you to purchase crypto instantly with your credit or debit card, and has a solid mobile app.

Read our full Bitstamp review hither.

Pros

  • 1 of the longest running cryptocurrency exchanges
  • lxx+ supported tokens
  • Low fees to trade

Cons

  • Staking features not bachelor to all users
  • Limited avails to earn staking rewards on


best cryptocurrencies exchanges: bitstamp

seven. eToro

eToro has been effectually for a while in the Uk and throughout Europe, only they are now allowing traders in the United States. They offer a huge variety of digital assets to purchase and sell on their platform, and even better, they accept a practice trading account and so you can give information technology a effort before you actually use existent funds.

Right now, eToro is also offering a $10 bonus if you deposit and trade $100 in crypto-assets. This offer is only bachelor for US users.

Read our full eToro review hither.

Pros

  • Worldwide options for trading crypto
  • Ability to copy other traders portfolios
  • Low minimums to commencement

Cons

  • Limited options in the United States
  • Merely bachelor in 41 states
  • Doesn’t support as many tokens and coins as other platforms on this listing


Top crypto exchanges: eToro

This advertising promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro Uk Ltd.) & Us (by eToro USA LLC); which is highly volatile, unregulated in most Eu countries, no European union protections & not supervised by the EU regulatory framework. Investments are subject to market hazard, including the loss of principal.

8. Bitcoin IRA

Bitcoin IRA is a petty different than the other platforms here. Unlike most exchanges and wallets, you’re basically just exchanging currency and are field of study to paying taxes on your gains (larn how taxes on your cryptocurrencies work here).

With that being said, Bitcoin IRA combines the best of being a crypto wallet and exchange, with besides being an IRA. That means that your gains inside the business relationship are tax gratis or tax deferred.

Read our total Bitcoin IRA review here.

Pros

  • Invest in cryptocurrency inside your IRA
  • Power to earn involvement on your crypto inside your IRA
  • High security options

Cons

  • High fees
  • High minimums
  • Doesn’t support as many tokens and coins as other platforms on this list


best cryptocurrency exchanges: BitcoinIRA

9. Crypto.com

Crypto.com is ane of the largest and fastest growing crypto exchanges. It’s based in Hong Kong, but offers a ton of support for US-based customers.

Right now, yous tin have access to over 90 tokens and coins worldwide, and 50 tokens and coins if y’all’re in the U.s.a.. Plus, the offering solid rates on their crypto savings accounts.

The only major drawback is that it’s but app-based at this time, there is no desktop platform.

Read our full Crypto.com review here.

Pros

  • Huge amount of supported coins and tokens
  • Pays weekly interest on crypto savings
  • You tin get a debit card linked to your account

Cons

  • Complicated fee structure
  • No desktop support, simply app-based
  • Limited customer support


best cryptocurrency exchanges: Crypto.com

x. M1 Crypto

M1 Finance is i our peak picks for investing apps and brokerages because they let you lot to create a pie and invest and rebalance to that specific allocation. Plus, for investments, it’s $0 commissions.

They recently launched the same tool for crypto – where y’all can invest in a pie/resource allotment of cryptocurrencies, setup automated investments and rebalancing, and even use thematic pies like web3 or DeFi.

Pros

  • Setup a custom asset allocation of cryptocurrencies
  • US-Based and Regulated
  • Dynamic rebalancing with new deposits

Cons

  • Only supports 10 tokens at the moment
  • $0 commissions, simply 1% spread on crypto transactions


best crypto exchanges: m1 crypto

How To Invest In Bitcoin

Investing in BTC is similar to investing in stocks, except far more volatile because of the daily swings in BTC. Hither are the steps to invest in stocks from the beginning:

  1. Open a brokerage account at a house that allows crypto investments
  2. Deposit funds from your bank into the brokerage account.
  3. Buy a stock using deposited funds (cash balance).
  4. Afterwards sell the stock for a gain or loss. Funds are returned to your greenbacks balance.

The principal difference with BTC is for step 3; you purchase BTC or some other cryptocurrency instead of stock.

With BTC, the in a higher place flow is like in most cases but it depends on the substitution or trading platform. In some cases, you can buy BTC using your credit carte or by transferring funds from your bank account.

For other platforms, you must transfer BTC directly. This is known every bit a direct deposit of BTC.

We’ll discuss how to invest in BTC for US citizens. The methods vary across countries because of differences in laws and regulations. Some countries crave more than private information than others to verify you lot are legitimate.

How To Deposit USD To Buy Bitcoin And Crypto

Coinbase is one of the most popular platforms and has a straightforward process. Some of the mentioned websites below will follow this same process. We love Coinbase because you get $5 if you open an account.

With Coinbase, you open a Coinbase account and link your bank business relationship or credit card. And so transfer funds from your bank account to purchase BTC or buy using your credit card. Credit card purchases of BTC are the most expensive.

The mechanics of purchasing BTC involve entering a USD amount or a BTC amount. The website volition then catechumen the other currency.

For example, if you enter in 500 USD, the website will fill in the BTC side with 0.0357 (or what always the electric current BTC exchange rate is).

Once you have the corporeality filled in, click to purchase your BTC. While credit card transactions price the well-nigh, they are also the fastest to complete BTC transactions.

Bank accounts can take up to a few days. Keep in mind that you volition go the substitution rate at the time you purchased BTC.

If BTC goes up g by the fourth dimension your transaction completes three days afterwards, y’all’ll miss out on the rise.

Where exactly does the BTC you lot’ve purchased get? After all, you haven’t invested information technology yet. Your BTC sits in what’s chosen a digital wallet. Most all exchanges have their ain wallet that you use to contain your BTC.

Going back to the brokerage example, your cash residual is used to trade stocks. BTC in your wallet is used to trade BTC.

What about your USD?

Your wallet has a space for BTC and USD. If you deposit x,000 USD and buy 5,000 USD of BTC, your wallet volition expect like this:

v,000 USD

0.34    BTC

Wallets are a big topic of word when talking about cryptocurrencies. We won’t get into depth with them but y’all tin use a stand-alone wallet if you don’t want to use the substitution’south wallet. Electrum.org is one instance of a stand-lonely wallet. This tin be desktop, mobile or website based.

You lot can fifty-fifty use a hardware wallet such as LedgerWallet.com.

In one case you lot’ve deposited funds with the exchange of choice and purchased BTC, you’re ready to invest. Trading platforms on the exchanges look very similar to brokerage platforms.

You’ll have a nautical chart and buy/sell buttons with the amount of BTC to merchandise.

When trading in BTC, y’all can commutation into other cryptocurrencies, which is another method for selling BTC. Or you tin exchange out of another cryptocurrency and into BTC, which is the same every bit buying BTC.

Direct Deposit Of BTC

In the case that the commutation doesn’t allow purchasing BTC past transferring funds or using a credit menu, y’all can deposit BTC from some other exchange.

This is done by getting your wallet address from the target exchange. Then enter information technology on the source substitution along with the amount of BTC to transfer to the new commutation.

The transaction takes a few minutes for the exchanged BTC to announced in the target wallet.

Mutual Cryptocurrency Exchange Questions

Here are some of the nigh common questions we get when information technology comes to our picks fr the best cryptocurrency exchanges.

What features are important to expect at when deciding on an exchange?

There are a few major features we consider, including the number of tokens and coins available, the price or commission charged, the ease of use, the security of the platform, the client service, and the features (such as cryptocurrency savings accounts).

What’southward the difference betwixt a crypto exchange and a crypto wallet?

A wallet is designed for safe storage of your cryptocurrency. An exchange is designed to allow you to purchase and sell cryptocurrency easily and apace. A wallet will agree your individual keys security, while when y’all employ an exchange, you provide the exchange your individual keys. The exchange then acts as your custodian.

How practice you lot buy cryptocurrency?

You open an business relationship at any of these exchanges, deposit your funds, and and then y’all tin can “exchange” your USD or fiat currency for the cryptocurrency of your choosing. Some cryptocurrency only accept specific pairs they trade with, and so depending on what yous want to buy, you lot may need to buy something like Bitcoin, and then exchange the Bitcoin for another token.

How much money do you need to get started?

Yous tin become started with most of these exchanges with as fiddling as $5.

Methodology

The College Investor is defended to helping you make informed decisions around complex financial topics like figuring out the best cryptocurrency exchange. We do this by providing unbiased reviews of the top bitcoin and crypto platforms for our readers, and then we amass those choices into this list.

We take chosen crypto exchanges based on our opinions of how like shooting fish in a barrel they are to use, the availability of tokens and coins on their platform, their costs and fees, their trustworthiness and security, and a variety of other factors. We believe that our list accurately reflects the best cryptocurrency exchanges in the marketplace for investors.

Final Thoughts

Investing in BTC isn’t much dissimilar from investing in stocks. With BTC, you lot need to open up an account with an substitution. With stocks, you open an account with a brokerage. Then you deposit funds.

The only difference with investing in BTC is that you accept to purchase BTC, first using deposited funds, before you can trade BTC. Although, your initial purchase of BTC is your first opening trade.

Finally, if you’re looking for Uk-specific exchanges, see this guide: Best Cryptocurrency Exchanges In The United kingdom of great britain and northern ireland.


Take you ever used any of these sites?

Disclaimer:

*Personalized $5 reward offering is displayed after account creation. Express time offer and while supplies last. Offer available to new users who have non previously verified their identification. Offer not available to new users who were referred to Coinbase through the Referral Programme or who have previously opened an account using different contact information. Coinbase may update the conditions for eligibility at any fourth dimension, in its sole discretion. See Terms and Conditions.


10 Best Crypto Exchanges & Platforms Of December 2022



Editor: Clint Proctor



Reviewed by: Claire Tak

Source: https://thecollegeinvestor.com/21245/top-10-bitcoin-crypto-investing-sites/

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