5 Best Places to Buy and Sell Cryptocurrency
It’s a known fact that several people from different parts of the world have made fortunes by trading cryptocurrencies. The market is very risky but can also be highly rewarding for those who are willing to take risks in a sensible way.
Anyone can trade cryptocurrencies but not every trader or investor can become rich by buying and selling digital currencies. In fact, people lose huge amounts of money, just as others make so much profit by trading cryptos. To become rich from cryptocurrency investments, you need to learn the ropes and trade strategically.
One of the most important things to learn about trading cryptocurrencies is to know the right places to buy and sell. There are so many places where you can buy digital assets but some of these places are not reliable. You need to know exactly what you are doing when it comes to investing money.
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Where Can You Buy and Sell Cryptocurrencies?
There are hundreds of places you can buy cryptocurrencies, but they generally fall into three distinct categories, namely exchanges, brokerages, and apps. We will briefly discuss what each means so that you understand what you are getting into when you choose any platform:
Cryptocurrency exchanges are platforms that are dedicated to facilitating the purchase and sale of cryptocurrencies. They can also be used to store crypto assets, though there are risks involved. Most traders and investors buy cryptos from exchanges for several reasons, including the availability of several coins. Examples of cryptocurrency exchanges include Coinbase, eToro, Gemini, and Binance.
Stockbrokers generally help investors to buy stocks, bonds, mutual funds, and other conventional investment vehicles. A few brokerages have added cryptocurrencies to their investment vehicles, allowing investors to buy crypto assets through their platform. eToro and Robinhood are good examples of brokerages that supports buying and selling of cryptocurrencies.
Major cryptocurrency exchanges and brokerages have apps. However, there are apps that are not official exchanges or brokerages that still allow people to buy and sell cryptocurrencies. While some of the apps are genuine and support seamless transactions, others are risky or run by scammers. Good examples of decent apps to buy and sell cryptocurrencies are CashApp and Venmo.
We understand that it can be challenging to tell which of the cryptocurrency exchanges, brokerages, and apps will be the best for you. Beginner traders with limited experience can hardly tell the difference between a scam site and a legitimate platform, which is one of the major reasons we are here to guide them. Here, we will discuss five of the best places to buy and sell cryptocurrencies and teach you how to choose the right one for you.
5 Of the Best Cryptocurrency Exchanges in the World
One of the most spectacular things about cryptocurrencies is that they are mostly decentralized and can be accessed by anyone, regardless of their place of residence. There are platforms that cater to the needs of people in specific locations, but some of the best platforms serve a global audience.
Global reach is just one of several factors that can inform you of the credibility of a particular cryptocurrency platform. Other important factors include exchange score, average liquidity, and approximate trading volume.
We have considered the most important factors in selecting the platforms in our list of the 5 best places to buy and sell cryptocurrencies. We will discuss these platforms individually so that you can decide the ones that suit you most. In the end, we will still discuss how you can play safe while buying and selling cryptos.
There are many reasons eToro is the first platform on this list. It is not an exchange but a brokerage that also allows for cryptocurrency investments. The first major benefit, therefore, is that you can use the same platform you use for crypto trading/investing to buy stocks, ETFs, options, and other investment vehicles.
eToro has earned an enviable reputation as the world’s leading social trading platform, offering its users an array of tools to invest in the capital market. The innovative brokerage merges self-directed trading and copy trading under a unified trading experience. This has proofed to be a winning combination.
eToro is one of the easiest brokerages to use for all kinds of trading. Users are able to perform basic operations and complete tasks fast with ease. This is one of the reasons it is the most recommended platform for beginners.
eToro also has the right features to make buying and selling of cryptocurrencies easier, faster, and safer. CopyPortfolios, research tools, sentiment data, wall newsfeed, integrated educational content, trading school, and YouTube videos are just a few of the helpful tools/features you will get from eToro.
eToro is also a very safe platform to trade cryptocurrencies and other investment vehicles. Founded in 2007, it has been working for more than a decade without any serious issue. It has a trust score of 93 and is highly rated.
✅ Very easy to use and highly customizable to suit users of all experience levels.
✅ It is one of the safest places to buy and sell cryptocurrencies and other investment vehicles.
✅ It is, by far, the best for social copy trading and is considered the number #1 Trader Community.
✅ Availability of crypto assets and other major investment vehicles like stocks, ETFs, and more.
✅ Availability of several helpful tools to improve the trading experience, including educational resources.
✅ eToro makes mobile trading easier and more rewarding.
✅ The eToro Wallet is an added advantage for users who want to safely store their digital assets in one place.
❌ eToro may not be the best platform for high-volume traders.
❌ eToro is a little pricier than some of the other platforms out there.
Coinbase is one of the largest cryptocurrency exchanges in the world. It is currently available in more than 100 countries and is trusted by as many as 30 million users. It is one of the best platforms to buy and sell digital assets and has lots of features that support trading.
Coinbase Pro makes it easier for anyone to buy a cryptocurrency, using different acceptable payment methods like bank accounts, debit cards, and even credit cards. It also has a friendly user interface though it is not the best site for beginners. New traders are generally advised to buy their first digital asset through Coinbase and only switch to Coinbase Pro when they have experience.
Like other exchanges, one of the major attractions of Coinbase Pro is the availability of cryptocurrencies. You will find approximately 100 digital coins, including Bitcoin, Ethereum, Stellar Lumens, Ripple, Litecoin, and more. The platform also accepts different currencies, including USD, CAD, GBP, EUR, SGD, and many more.
Coinbase Pro also has a number of important features. The exchange launched its independent Android and iOS mobile wallets to make it easier for traders and investors to store and access their digital assets from their mobile devices. Fund transfer is another interesting feature that makes transferring funds between linked Coinbase accounts easier and cheaper.
Coinbase Pro is a relatively safe platform to buy and sell cryptocurrencies. It was launched in the United States in 2012 and has grown to become a global brand. It is a reputable exchange that is highly rated by users.
✅ A solid variety of cryptocurrencies, including the best altcoins.
✅ Very high liquidity.
✅ Interesting features to make trading easier.
✅ High level of security and trustworthiness.
❌ Users do not control wallet keys.
❌ It is not the best for beginners. Even when beginners choose Coinbase, the fees are just too high.
❌ Coinbase Pro is slow to adopt new coins.
Gemini is a reliable cryptocurrency exchange where users can buy, hold, and sell cryptocurrencies. It is one of the largest platforms in the United States but caters to the needs of people in other countries too. Gemini is known for its unique features. It is also loved for its low fees, top mobile app ratings, and high interest rates.
Trading cryptocurrencies on Gemini can be fun for different reasons. The first top perk is the fact that the platform supports a wide selection of top crypto assets. There are more than 40 cryptocurrencies on the platform, including the most popular coins like Bitcoin, Ethereum, Ripple, Stellar, etc.
Gemini is pretty easy to use. Most cryptocurrency traders will find the desktop platform great. Gemini also has an advanced trading platform called ActiveTrader, which offers a professional-quality trading system. The best part is that ActiveTrader is mobile-optimized, meaning you can enjoy all the goodies it offers regardless of where you are.
As hinted earlier, Gemini has interesting features. The one that sets it apart from most other crypto exchanges is Gemini Earn. This feature allows you to earn interest on your idle cryptocurrency balance, meaning you can earn from your investment even when you are not actively trading.
Gemini was founded in 2014 in New York City but was finally launched to US customers in October 2015. It is now available in more than 50 countries and is trusted by millions of users. It has two highly-rated apps Android and iOS.
✅ It has a user-friendly interface that makes trading easy for everyone.
✅ Highly secured.
✅ It has several interesting features, as well as an advanced trading platform.
✅ It has educational resources to help traders perform better.
✅ It allows users to earn solid interest on cryptocurrency balances.
❌ Higher fees than most other exchanges.
❌ There are reports of poor customer support.
❌ Some popular cryptocurrencies are still lacking on Gemini.
Kraken is another cryptocurrency exchange that is considered safe for buying and selling digital assets. It is a real exchange and original crypto trading platform where you can get some of the best cryptocurrencies out there. It is not as easy to use as many other platforms, but you can find most cryptocurrencies on Kraken, including DOGE. It is also known for its low fees.
In its early days, Kraken has a poor reputation as an unstable platform. Over the years, it has improved in different aspects to become one of the best cryptocurrencies exchanges in the United States. It is also available in many other countries. It has been significantly strengthened in such areas as security, service delivery, and customer support.
Kraken has a good number of interesting features, but one of the most attractive ones for experienced traders is its advanced trading platform, which supports over-the-counter and margin trading options. Other interesting features are OTP services and Staking services.
Currently, Kraken allows users to buy and sell about 40 cryptocurrencies, including Bitcoin, Ethereum, Chainlink, Ripple, and Bitcoin Cash. It also supports different payment methods and such currencies as USD, EUR, CHF, JPY, CAD, GBP and more.
Kraken was founded in 2011 and is headquartered in San Francisco, United States. It is currently available in almost every country of the world, except North Korea, Libya, Afghanistan, Cuba, Iran, Iraq, Syria, Tajikistan, and Congo. It is a reliable platform trusted by millions of users.
✅ Kraken boasts of a high level of security and trust.
✅ Kraken offers a wide array of quality cryptocurrencies.
✅ It is one of the longest-running cryptocurrency exchanges.
✅ It offers very low fees.
❌ Kraken is not easy to use and may not be the best for beginners.
❌ There have been reports of poor customer service.
Bittrex is a cryptocurrency exchange that is growing steadily in popularity in recent times. It offers several attractive benefits, including faster speed of transactions and stability. It is also an attractive platform because of its emphasis on the security of its users. It is one of few cryptocurrency exchanges that has never been hacked.
Like all top crypto exchanges, Bittrex offers a suite of excellent features. It has one of the most effective and reliable technologies in the industry. Other interesting features include Bittrex Credits promotions, robust order types, personalized trading, as well as automated trading features (stop loss, instant buy or sell). It also has excellent Android and iOS apps.
Using Bittrex can be fun for crypto traders and investors. The exchange offers an improved user interface that loads pretty fast without hanging or lagging when you are transacting. It also offers an elastic, multi-stage wallet strategy that offers between 80% and 90% fund safety.
Bittrex is also one of the largest crypto exchanges when it comes to the number of available coins. You can buy and sell more than 400 cryptocurrencies, including Bitcoin, Ethereum, Tether USDT, Ripple, Chainlink, EOS, NEO, etc.
Bittrex was founded in THE United States in 2013. It is currently headquartered in Seattle and serves a global audience. It is available in almost every country of the world, except Cuba, Crimea, Iran, North Korea, and Syria.
✅ Bittrex offers straightforward signup and verification.
✅ It allows for fiat money deposits.
✅ It is one of the most secured cryptocurrency exchanges in the world.
✅ Bittrex is an excellent platform for arbitrage and offers low trading fees for high volume traders.
❌ Bittrex does not support margin trading.
❌ While there are so many available coins on the platform, many have extremely low liquidity.
❌ Customer support is poor and user accounts can be suspended without prior notice if rules are broken.
Important Factors to Consider When Choosing a Platform to Buy and Sell Cryptocurrencies
From our choice of platforms, you can tell that it is best to buy and sell cryptocurrencies from trusted brokerages and official crypto exchanges. There are issues with unofficial apps you will want to avoid, especially as a beginner trader/investor.
Even among the brokerages and exchanges, some are better than others. It is understandable that you will want to choose one or two reliable platforms to trade. What are the qualities to look out for when choosing a platform? We will briefly discuss some of the most important factors to consider when choosing a platform that will suit your need:
Security is the most important factor to consider when choosing where to buy and sell digital assets and other types of investments. Exchanges are susceptible to hacks, so you have to be careful. Brokerages are way more secured, but you still need to be sure that the platform you choose has strong security features.
Ease of Use
Trading cryptocurrencies shouldn’t be hard. The platform you choose should have a user-friendly interface. It should be fast and stable too. A user-friendly platform is highly recommended for beginners.
Do not fall victim to platforms that advertise free cryptocurrency trading – there are no platforms that don’t charge fees at all. However, some platforms charge lower fees than others. Choose a platform that doesn’t charge too much, but make sure you don’t compromise your investment because by choosing a cheap platform with poor technologies and poor security features.
Helpful Features and Resources
Most Cryptocurrency platforms have features that help traders/investors or all experience levels trade and invest with ease. Make sure the platform you choose has enough features to make your trading experience stress-free. Platforms that offer educational resources are also better.
Customer support is important for many reasons. It is sad that most exchanges have poor customer support ratings. Brokerages are often better in this aspect, and eToro is the platform to beat.
Regardless of your experience level in cryptocurrency trading and investing, you need to use the right platforms at all times. We’ve hinted that the best places to buy and sell cryptos are brokerages and exchanges. We’ve also reviewed some of the best places to buy and sell your top digital assets.
You should also know that there are important features to consider before choosing any particular platform for trading and investing. We considered all these factors before choosing a platform to trade on. Again, eToro is the preferred choice for traders/investors of all experienced users.
eToro – The Best Platform to Buy and Sell Cryptocurrencies
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
FAQs about Where to Buy and Sell Cryptocurrencies
We understand that choosing the best place to buy a crypto asset is never easy and many beginners have several questions. We will attempt to answer some of the most frequently asked questions here:
Do normal stock brokers allow users to trade cryptocurrencies on their platforms?
Yes, there are a few stoke brokers that allow individuals to buy and sell cryptocurrencies in addition to other investment vehicles. eToro is probably the most popular and probably the best of such brokerages.
Can you deposit normal (fiat) money on exchanges?
A few cryptocurrency exchanges allow you to deposit fiat currencies, but many do not support that. Brokerages, on the other hand, makes depositing fiat money easier for crypto traders and investors.
What are the differences between a crypto exchange, a crypto wallet, and a brokerage?
A cryptocurrency exchange is a platform that is dedicated to facilitating the buying and selling of cryptocurrencies, a crypto wallet is basically an app that allows cryptocurrency users to store and retrieve their digital assets, while a brokerage is an intermediary between investors/traders and markets. They are different things but can serve similar purposes like buying, holding, and selling digital assets.
How much money do you need to buy a cryptocurrency?
You can start cryptocurrency trading with as little as $1 when you choose cheap cryptocurrencies. However, to stand a chance of making reasonable money, you need to invest more. Choose your coins carefully and buy from a reliable platform.
Are there platforms you can buy and sell cryptocurrencies for free?
There are no reliable platforms where buying and selling of cryptocurrencies are free. You must be ready to pay fees for trading. Avoid sites that promise free transactions as they are mostly run by con artists who can steal your money.
What are the most important features to look out for when choosing a platform to buy and sell cryptocurrencies?
The most important features to look out for in a cryptocurrency platform include security, strong technology, strong team, excellent features, user-friendly interface, low fees, number of available crypto assets, trading volume, and reliability. You should also consider the supported currencies and payment methods. Of course, there are several other factors, but the ones above are the most important ones.
Where is the best place to buy and sell cryptocurrencies?
It is difficult to point to a particular platform as the best one to buy and sell cryptocurrencies. One can be great in many aspects but will not be ideal for a beginner. You will need to research a platform and decide if it is the right one for you. As hinted earlier, brokerages are always great, and we consider eToro as the best brokerage for trading and investing in cryptocurrencies.