The cryptocurrency was the biggest disruption in the finance world. When launched in 2009, Bitcoin entirely changed the way we view fiat currency. Now people not only prefer saving their assets in cryptocurrency, but they are also welcoming digital currency in their day-to-day transactions. Are you looking for the best way to buy cryptocurrency online?
When it comes to buying cryptocurrency, there are a dozen ways, but you surely need the easiest method. We’ve got the best way to buy cryptocurrency for you in this blog.
We understand that buying crypto can be complicated for newcomers, but that shouldn’t be an entry barrier. So, after doing a good study of the available options, we have crafted this blog.
Let’s dive into the subject.
Best Way to Buy Cryptocurrency According to Crypto Analysts
Buying cryptocurrency is no rocket science, but only if you know easy ways to do so. We believe buying cryptocurrency directly from DeFi exchangers is the best way to buy cryptocurrency among a couple of options. However, you have different options, like reaching out to brokers.
Top 3 Platforms to Buy Cryptocurrency
A dozen platforms in the market support easy crypto exchanges for newcomers. We have picked the top 5 platforms so you can choose the best way to buy cryptocurrency. It would be best if you also did your own research to make a good decision.
Coinbase is a legit platform that always stays among the top 3 crypto exchanges in terms of the trading volume. It’s also launching an NFT marketplace that will allow users to buy NFTs directly from their credit cards. This is something that has never happened before.
You can begin by simply creating your account on the Coinbase official website and linking it to an Ethereum wallet to initiate transactions. Coinbase also has its own wallet that Ethereum backs.
What Makes Coinbase The Best Way to Buy Cryptocurrency?
- Easy account set up with 100 cryptocurrencies.
- Fund security with FDIC or the SIPC.
- All the assets on Coinbase are insured, hence legit.
- Hassle-free transactions.
- Ethereum wallet import into Coinbase wallet.
Binance is also a good alternative to Coinbase. The platform has over 500 cryptocurrencies available to buy, sell and trade. It’s accessible in 180 countries worldwide with low fees. You can purchase cryptocurrency through Binance using Cash balance, Debit/Credit cards, or P2P gateways.
The Binance login is not as effortless as Coinbase, and users will have to buy some time to understand the app before they make a purchase.
What Makes Binance The Best Way to Buy Cryptocurrency?
- Low trading fees, so no trial barrier.
- More cryptocurrencies to buy.
- The platform is secure for traders to hold their assets.
Launched in 2015, Gemini is a relatively newer DeFi exchanger with 70 cryptocurrencies, including Bitcoin, Ethereum, DAI, and more. The platform is open for trade in 60 countries (All Americas). The good part is that Gemini also offers insurance and assets investments for the long term.
Gemini ActiveTrader is also a featured platform that helps to return Gemini users. The Gemini fee factor can be a little upsetting for newcomers, with transactions and convenience fees adding to the final costs.
What Makes Gemini The Best Way to Buy Cryptocurrency?
- 8.05% Annual Percentage Yield on assets
- Crypto education hub for newcomer’s learning
- Solid security
- Available for all users in America.
These are the top 3 crypto exchanges you can use to buy cryptocurrency with full confidence. However, you also have the option to hire a broker to facilitate trades.
Traditional Broker to Buy Cryptocurrencies
Brokers used to help in real estate and stocks, but they are now venturing into the crypto world. You have to buy a cryptocurrency contract through a broker.
A traditional crypto broker charges a price based on the contract’s scope, i.e., exposure to the crypto. A usual fee ranges from $100 to $1000. However, there’s no fixed price as the price depends on the coin’s trading volume.
Hiring a broker to purchase cryptocurrency may not be the choice when you have options like Coinbase. But, if the platform doesn’t work in your country, then a broker is a safe option to try.
Cryptocurrencies are easier to buy, but you will still need to research before jumping into this market. You will also have to decide how you’d like to keep your virtual currencies saved. Users have multiple choices like keeping their assets held in either the platform’s vault or crypto wallets, also known as hot wallets.
Crypto exchanges are not usually secured, so wallets are a better option. They are also available for free and are very user-friendly.
Whatever you choose, make sure you invest a small proportion for a start. Huge amounts of money acquire greater risk so stay on the safer side.