Top 10 Crypto Currency Exchanges To Buy or Trade Bitcoin, Ethereum and Altcoins
- eToro UK| Wire Transfer, Debit/Credit Card, e-wallet
- Coinbase USA|Wire Transfer, Debit/Credit Card, e-wallet
- IQ Option Cyprus|Wire Transfer, Debit/Credit Card
- Bittrex USA| Cryptocurrency
- LocalBitcoins|Cash, Paypal, Wire Transfer
- CEX UK|Ethereum, Debit/Credit Card, Wire Transfer
- Kraken USA|Wire Transfer, Alt coins
- EtherDelta P2P|Ethereum tokens
- Bitfinex HongKong|Wire Transfer, Ethereum, Dash, Monero, Zcash
- Paxful USA|Paypal, Debit Card, Amazon Gift Card, One Vanilla
If you live in the US there are plenty of places to buy Bitcoin, Ethereum or Litecoin. It get’s a little more tricky if you want to buy other Alt coins. Your best bet is to try some of the most popular exchanges and if you do not see the coin you are looking for there you should visit the company site of the issuing currency and find out where their coin is listed. It is also critical before you sign up that you find out if the exchange or e-commerce site services your country AND your state. Apparently these services have to be licensed in each state in orders to be in compliance with whatever the SEC rules are. Even though this sector is unregulated there have been some states that have started to issue some policy and the sites that are thinking long-term have invested in the time and money it takes to be compliant. You want to use these sites because these are the ones that are least likely to be problematic.
The first thing you have to understand is that there is a difference between places you can BUY crypto currencies and the places you can TRADE. When I say trade in this context I am talking about trading similar to how stocks are traded on sites like Etrade. When I say buy I am literally just talking about a place you can go and purchase the crypto currency like you would go to Thomas Cook and buy Canadian dollars or Euros with your US dollars for a trip. So ensure you understand what you are trying to do – Are you just looking to Buy Bitcoin or Ethereum and HOLD it? or are you looking to Buy + Trade it which is 2 steps that may have to happen on 2 different sites. There are sites that let you do both so just make sure you are checking on their services.
The second thing you need to to is ensure that you are not going to store your Bitcoin, Ether or other Crypto currency on these exchanges. You need a separate wallet that you will keep your currency safe. These exchanges over the years have come and gone and sometimes gone with people’s money. So make sure you complete your transaction or trades and then send you money to your wallet. For more information on what kind of wallet you should get check out – The Top Cryptocurrency Wallets in the Cloud and Hardware.
Third and probably the most challenging to explain is that unlike fiat currency aka (the money we use everyday) there isn’t the notion of a standard daily exchange rate that everyone has agreed to. So this means that the price for your favorite crypto currency on each exchange or marketplace will be different and the reason why is that the price is based on supply and demand within that exchange and market. The easiest way to think of it is …the way a bag of rice might cost one price in a certain neighborhood and yet is priced higher in another neighborhood. It is based on supply and demand and the price that the people in that market are willing to pay. And then on top of that factor you should be looking at the fee’s to buy, send and receive crypto-currency that the platform charges before you decide on which platform to use. And remember it’s not always about the lowest price but also take into account security credibility of the platform.