As the first established cryptocurrency, bitcoin remains the most commonly used form of digital currency on the market. It can be used to make online purchases or trade as you would with traditional stocks and currencies.
Trading in bitcoin requires the use of a secure and trusted bitcoin exchange. There are a few vital elements that constitute a reputable platform. With a growing number of trading exchanges available, these factors are essential to consider when deciding which bitcoin exchange is best for you.
Factors to Consider When Choosing a Bitcoin Site
Trading licenses from reputable regulatory bodies are a great indication of the trust placed in a trading platform. The more licenses held by an exchange, the greater the reach and trust placed in the platform.
The best exchanges offer a quick setup of accounts, a variety of payment methods and easy access to your assets. The most popular platforms offer trades in a variety of virtual and traditional currencies.
For added safety (and peace of mind), trusted platforms offer full control of the bitcoin wallet to the user. This means that the trading exchange never holds the keys to assets.
It’s always worth paying particular attention to the fees charged by your platform of choice. All bitcoin platforms have fees associated with their transactions, and these usually vary according to the type of trade. The best bitcoin sites offer a competitive fee structure in relation to the services provided.
Best and trusted Bitcoin sites
Coinbase is a fully licensed and regulated platform with more than 40 million users across the globe. It allows for the purchase and trade of bitcoin, along with more than 20 other virtual currencies. In addition to digital trades, Coinbase provides a safe exchange on which to trade traditional bonds and currency.
This exchange offers a fair fee structure, with peer-to-peer transfers starting at 0%. The analytical tools provided can turn a beginner into a professional trader.
One of the most accessible exchanges is eToro. With users in more than 100 countries, it’s easy to see why this platform is a one-stop shop for online brokers. eToro offers a user-friendly platform.
This exchange also provides several options to brokers, including social trading, whereby users can mimic the trades of others. A test account option allows users to test their trading skills before jumping in with real cash.
While not as well-known as the previously mentioned platforms, Coinmama should certainly not be overlooked. For those looking to jump into the action immediately, this exchange provides a fast sign-up process with instant access to purchase bitcoin.
Instant purchases may come at a higher price, but Coinmama offers a safe and regulated platform with several payment options.
For those looking to trade with almost complete anonymity, Bisq is an excellent option to consider. Through a decentralized peer-to-peer network, Bisq allows the sale and purchase of Bitcoin. Depending on your type of trade and payment method, fees vary from 0.05% to 0.9%.
For more information on the most trusted bitcoin investment sites, please visit Tradingbrowser.com