We picked Coinbase because it makes buying and selling cryptocurrencies very easy with strong security and transparent pricing. Additionally, coinbase offers coinbase pro with a lower fee structure and significantly more features in terms of charts and indicators.
While the cryptocurrency industry has been fraught with fraudulent coins and shady exchanges, Coinbase has largely avoided any controversy. Coinbase offers an extremely easy-to-use exchange, greatly lowering the barrier to entry for cryptocurrency investment, which is typically seen as confusing and convoluted.
Coinbase also offers the free Coinbase Pro version with a different but cheaper fee structure and significantly more options in terms of charts and indicators. Coinbase Pro is a perfect next step for those who have learned the ropes using Coinbase, and it helps round out the overall offering by adding features that the more advanced user would want.
2) Cash app:
We like Cash App because it is very easy to use and gives you flexible options to withdraw to other crypto wallets.
Cash App is a peer-to-peer money transfer system much like Venmo. This service allows users to split food, pay rent to a roommate, or even shop online at a retailer that supports Cash App. Cash App can essentially act as a bank account, and users can have their own Cash App debit cards. This service is very convenient by itself, but Cash App has even more features.
While its main feature is money transfer similar to apps like Venmo, it also has a basic crypto investment feature similar to Robinhood. Cash App allows users to withdraw cryptocurrency investments to their own wallets, which is the main reason we chose squares cash app over Robinhood as the best option for beginners looking to buy Bitcoin.
Many in the crypto-community refer to this concept as “not your keys, not your coin.” This means that if you do not hold the private keys to the wallet the coins are stored in, they are effectively not owned by you.
We picked Bisq because it is a decentralized, open-source exchange with no KYC requirements.
Banking products, like a checking or savings account, are only accessible if you have a legally provable government-issued identification. With Bitcoin, this isn’t necessary—it can be accessed regardless of nationality or location, and without any identification.
Bisq is downloadable software and peer-to-peer decentralized Bitcoin and crypto exchange. This means that Bisq has no central point of failure and cannot be taken down, much like Bitcoin itself. Bisq is non-custodial, meaning no one other than the user touches or controls the user’s funds.
Bisq offers trading of several different fiat currencies, including USD and Bitcoin, and several other cryptocurrencies. Its decentralized and peer-to-peer characteristics can mean low trading volumes and slower transactions, but this is well worth it for some.
We chose Binance because it offers a very long list of currencies beyond the most popular digital coins.
The Binance exchange is an exchange founded in 2017 with a strong focus on altcoin trading. Binance offers over 100 different trading pairs between different cryptocurrencies. It offers plenty of fiat-crypto pairs as well
Binance is suited to people who would like to trade or invest in lesser-known altcoins. Binance offers more than 50 different cryptocurrencies to trade and is a good option for anyone who wants more advanced charting than most other exchanges.
Founded in 2011, Kraken was the first bitcoin exchange to have its market data displayed on the Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit, and one of the first exchanges to offer leveraged bitcoin margin trading.
Gemini is a direct competitor to cryptocurrency exchanges including coin base and Kraken. The formal name of the company is Gemini Trust Co., LLC.
- Gemini is a cryptocurrency platform for buying, selling, storing, and spending cryptocurrencies, with a website and a mobile app.
- Its major selling points are security and ease of use.
- It supports trading in more than 40 cryptocurrencies and has its own currency, the Gemini stable coin.
Bitstamp is the world’s longest-running cryptocurrency exchange, continuously supporting the Bitcoin economy since 2011. With a proven track record and mature approach to the industry.
Bitstamp provides a secure and transparent venue to over four million customers and enables partners to access emerging crypto markets through time-proven infrastructure.