We review the best places to buy Bitcoin & Altcoins, plus we also compare some of the top exchanges & crypto wallets!
|Exchange||User Interface||Coins||Located||Established||Security||ID Verification||Payment||Website|
|Amateur||Multi Cryptocurrencies (Circa 100+ coins)||Hong Kong||2017||User ID, Password, 2 factor identification||Optional||Cryptocurrency||Visit|
|Amateur||Multi Cryptocurrencies (Circa 9 coins)||UK||2013||User ID, Password, 2 factor identification||Yes||Fiat||Visit|
|Amateur||Multi Cryptocurrencies (Circa 9 coins)||Czech Republic||2013||User ID, Password, 2 factor identification||No||Cryptocurrency||Visit|
|Amateur||Multi Cryptocurrencies (Circa 9 coins)||US||2012||User ID, Password, 2 factor identification||Yes||Fiat||Visit|
|Professional||Multi Cryptocurrencies (Circa 9 coins)||US||2012||User ID, Password, 2 factor identification||Yes||Fiat||Visit|
|Professional||Multi Cryptocurrencies (Circa 18 coins)||US||2011||User ID, Password, 2 factor identification||Yes||Fiat||Visit|
|Amateur||Multi Cryptocurrencies (Circa 100 + coins)||Hong Kong||2013||User ID, Password, 2 factor identification||Optional||Cryptocurrency||Visit|
|Amateur||Multi Cryptocurrencies (Circa 6 coins)||Finland||2012||User ID, Password, 2 factor identification||Yes||Fiat||Visit|
If you wish to buy bitcoin, it’s a relatively easy process. First you need to set up an account with a cryptocurrency exchange, this may require ID verification. Second deposit money into the exchange, this can be done using a variety of methods depending on the website platform, bank transfer, PayPal, Credit Card or Visa Debit etc. Finally buy, sell and exchange virtual currencies.
What is a cryptocurrency exchange? A cryptocurrency exchange is a digital marketplace, were you can buy and sell virtual currency such as Bitcoins and Altcoins using fiat currency (Euro, Sterling, US Dollar) or by exchanging one cryptocurrency for another cryptocurrency. Essentially it’s an online intermediary website that facilitates buyers and sellers of cryptocurrencies. They act like a traditional stock exchange, traders can opt to buy and sell coins by setting a market and limit order. When you make a transaction on an exchange you are charged a fee, this fee will vary depending on which exchange you use.
What is fiat currency?
Fiat currency is a government backed legal tender such as the Euro, US Dollar, Hong Kong Dollar etc
How do I trade on an exchange?
You must first register with the exchange, some exchanges require you to add your name and address, ID verification and bank details, were other just require basic details. When you have submitted all the required information, this will be reviewed and you will receive an email confirming that your account has been approved.
How do I buy cryptocurrencies?
Depending on the exchange you may have various options, such as depositing funds by SEPA transfer, Paypal, Visa Debit or credit card. However there are exchanges that do not accept fiat currency, with these exchanges you would need to purchase crypto through a fiat accepting exchange and transfer it over to the non fiat accepting exchange in order to trade.
What are exchange wallets?
Most crypto exchanges offer wallets, these are applications, which allow you to securely store you coins once you have purchased them. However we would recommend that you store your crypto off the exchange, as some exchanges have been hacked.
How do I research different exchanges?
We would suggest finding out as much information as possible before choosing the exchange that’s right for you. Some important points include:
• What coins can I buy and sell?
• Do they accept Fiat Money?
• What forms of payment do they accept i.e. bank transfer, credit card.
• Is the exchange new or old, when was it established.
• What type of reviews has it received.
• Fees and charges associated with transactions.
• Where is the exchange located and are there geographical restrictions.
• Set up process and what is required, ID verification, linking bank account etc