Are you into cryptocurrencies? These days, it’s hard to find someone who hasn’t heard about bitcoin and blockchain. The bitcoin hype has reached its peak in 2017 due to its impressive rise. Even though the prices have changed substantially since then, people are still looking for ways to earn money with cryptocurrencies.
Bitcoin is a cryptocurrency (digital currency), which is mostly used to make purchases online. While some people use it as an investment, others employ cryptocurrencies for numerous business transactions. It’s not an official currency so it’s not sponsored or regulated by the government.
Starting With The Basics
Bitcoin circulates through a system created by its users. People can earn coins by “mining”. They provide the power and technical abilities of their computers for supporting the blockchain. This allows them to earn bitcoins. However, mining takes a lot of time and money. It’s much easier to simply buy bitcoin using any other currency.
Before buying bitcoins, it’s important to understand that this currency is highly volatile. While many people made a fortune during its rise in 2017, many others lost fortunes after its fall.
If you want to look for professional opinions about bitcoin’s future, you are unlikely to find two experts that agree. Some believe a new peak is not far off. Others think that the bubble is bound to burst.
If you are sure you still want to buy bitcoin, many places can offer you this service. However, before making a purchase, you need a safe place to keep the coins. This means you have to set up a digital wallet. Such a wallet can help you make bitcoin transactions.
Usually, it can deal with all types of cryptocurrencies. However, you have to be careful about fees accompanying bitcoin transactions. Sometimes, it’s cheaper to pay the usual way rather than deal with cryptocurrencies.
We’ve made a list of the safest and most convenient places to purchase bitcoins online.
Coinbase is one of the biggest and most respectable bitcoin platforms in the world. It’s available in 30 countries. The platform has an easy interface so it’s a great choice for first-time buyers.
The platform offers different payment methods. Usually, all transactions are instantaneous. However, you have to watch the fees carefully. They depend on the currency and payment methods you use. Coinbase has high liquidity and buying limits.
Binance is a popular platform, which originated in China but recently moved to Malta. Even though it’s a fairly new service (launched in 2018), Binance already has many users. The main advantage of this platform is its low trading rates, which are excellent for those looking for discounts.
Binance has a user-friendly interface, which is translated into six languages. Thanks to its great reputation, Binance has made it into the top bitcoin exchange lists of 2019.
Wunderbit is another fairly new exchange, which focuses on bitcoins. It has a simple interface aimed at fast and painless transactions. The platform offers top-notch security, quick verification process, reasonable fees, and excellent customer support.
It’s a great choice for newbies in the bitcoin trading business, who are looking for a simple place to start.
Coinmama has been on the market for over 5 years. The exchange originated in Israel. Today, it services over 200 countries. It accepts different payment methods, including debit cards. The initial verification at this platform takes under 10 minutes, which is great for traders, who are in a hurry.
This exchange is one of the oldest in the business with an excellent reputation. The only downside is fairly high fees for purchases with debit and credit cards.
If you are planning to buy bitcoin online, evaluate your funds, needs, and plans. More often than not, buying bitcoins is not necessary to achieve your goals.
If you are certain that you need bitcoins, make sure you only use safe channels for buying them. Any of the above exchanges can be a solid choice.