Where to Buy Bitcoins From Reliable Bitcoin Exchanges
There are so many Bitcoin exchanges and sources like you need to finalize on the one that is the most reliable. These are some leading names in the Bitcoin economy that have made their special place for their services to customers; however, it is your personal decision that should be dependent on your information and scrutiny.
Nonetheless, available for people who want to invest or trade in BTC, there are a few things you should know before you get started and want to buy Bitcoin. Additionally, transferring your money over to an exchange can be an arduous process at times; therefore, it will get easier in the future. However, for now, you need to select a Bitcoin exchange or brokerage firm that brings you Bitcoins without much hassle.
Bitcoin Exchanges and Bitcoin Brokerage Firms
Bitcoin may not be easily available as there are certain restrictions in the US and several other countries on the amount you can buy. Thus, if you are able to objectively evaluate a few things before deciding on one, it will be better for you. You may visit the websites that provide you easy process and user-friendly Bitcoin buying and selling. Here you can pay in your currency and buy Bitcoin.
You need to consider the liquidity that Bitcoin exchange has as Bitcoin is traded on a market where people are both looking to purchase or sell the currency, and it is important for you to know this. Additionally, it is liquidity that helps you understand about the genuineness of the Bitcoin exchange i.e. the more buyers and sellers there are the more liquidity that Bitcoin exchange has. Thus, look for a Bitcoin exchange that has a large number of customers.
For instance, you can also buy Bitcoin from Coinbase, a popular Bitcoin exchange that offers services for only US customers. Thus, if you are in the US, you can definitely benefit from this organization as it has several rich features e.g. it provides an easy process of Bitcoin buying which is quite important for first timers.
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Coinbase is probably the most popular company today for buying Bitcoins. It was founded in late 2012 as a part of Y-Combinator and until today has raised more than $106 million in venture capital. Coinbase is considered by many the leading Bitcoin exchange available.
San Francisco-based Coinbase is a bitcoin wallet provider, as well as an exchange service. It was founded by Brian Armstrong and Fred Ehrsam.
Coinbase users are able to buy and sell bitcoin at the current market rate with bank transfers both in the United States and 18 European countries.
Credit cards are supported for some users.
The company aims to make the process easier for non-technical customers to send and receive bitcoin payments by offering a user-friendly wallet service (online and app) for storing, sending and receiving bitcoin, along with merchant services that enable businesses to accept bitcoin payments online and fee-free payments between Coinbase accounts.Pros: Highly respected and good reputation, low transaction fees
Cons: Not available worldwide, Support takes time to respond
Coinmama is a another veteran Bitcoin broker working in the market since 2013. They offer easy ways to buy Bitcoins with credit cards or cash deposits via MoneyGram and Western Union. Coinmama uses Simplex – a credit processor which allows you to buy up to $5000 in one purchase. Coinmama also has relatively high exchange rates due to chargeback issues and the availability of credit and debit cards as payment methods.
Pros: Accept credit cards, Fast transaction time, great user interface.
Cons: Relatively high exchange rate, limited states within the US.
CEX.IO Bitcoin Exchange
CEX.IO was established in 2013. CEX.IO is a bitcoin trading exchange which accepts credit cards and allows you to trade. On Cex.io You can buy Bitcoins for USD, EUR and RUB.
Pros: Reputable company, high buying limits
Cons: Limited countries available, higher exchange rates
Bitstamp Bitcoin Exchange
Bitstamp is the oldest Bitcoin exchange out there today. Founded on 2011 Bitstamp has managed to survive most of the Bitcoin ecosystem’s turmoil without being hacked or shut down, and that’s definitely saying something.
Pros: Highly respected and reliable exchange, low transaction fees.
Cons: Not suited for beginners, limited payment methods, high deposit fees on small amounts of money.
Founded by Jeremias Kangas, a programmer and entrepreneur, this Finland-based company is a peer-to-peer marketplace, rather than a trading platform or exchange. The service matches users wanting to buy or sell bitcoin and had a trading volume of 65,760 at press time.
Bitcoins are stored in the LocalBitcoins web wallet, for which there are fees (“0.0001-0.0004 BTC per outgoing transfer”).