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Cryptocurrency and crypto exchanges are not a new term. Launched in 2009, Bitcoin was the first to enter the cryptocurrency market. Since then the craze for cryptos has grown multi-fold. There are global investments being made in cryptocurrencies. As of today, the total market capitalization of cryptocurrency has increased up to $2 trillion.
In 2009, Bitcoin entered the investment market at a launch price of less than $1. Fast forward a decade, Bitcoin today is priced at $40,000 per coin. There has also been an increase in individual and institutional investments in Bitcoin. Now, trading in bitcoin has further been made accessible on https://desire-crypto.com/.
Best Bitcoin Exchanges in 2022
The growth in Bitcoin investments has also paved for the growth of the crypto exchanges market. There are many crypto exchanges that have listed Bitcoin and other currencies in their exchange. Investors can go ahead and buy the required quantity through these exchanges.
Let us look at a few crypto exchanges that you can choose to pick Bitcoin.
Binance
This is a commonly used Bitcoin exchange. Binance boasts of trading more than 2 billion transactions per day. The crypto exchange currently lists more than 500 cryptos. Other than Bitcoin, investors can also pick other cryptos including Ethereum, Shiba Inu, Polka Dot, etc. Most cryptos listed in Binance come with low trading fees. Another opportunity to reduce your overall transaction charges shall be possible by holding BNB in your wallet. Binance allows easy access and navigation opportunities to both new and experienced investors. Depending upon your preferences and market awareness, you may choose the best option to navigate through windows. Binance exchange is also compatible to accept fiat currencies and convert these to Bitcoin values and vice versa.
Coinbase
This is yet another easy-to-use crypto exchange available in the market right now. Investors can easily create their login credentials using this exchange. The verification process is super-fast and allows you to undertake trading activities in less than 24 hours. Advanced investors can find this platform user-friendly and caters investment opportunities on more than 100 cryptocurrencies.
Kraken
Kraken is a regulated crypto exchange and boasts of being the credible exchange amongst others crypto exchanges in the market. The instant but feature in Kraken allows you to easily pick Bitcoin from this exchange. But you need to look out for the additional transaction charges that may apply while using this feature. Kraken currently lists more than 60 cryptocurrencies. It also allows investors to use its staking feature to earn rewards on the go while trading using Kraken.
eToro
This is by far the best-used crypto exchange in the global market. There are approximately 23 billion users registered and trading daily using eToro. In addition to Bitcoin, eToro allows investors to trade on 30+ other crypto coins. eToro promises nil transaction fees while opening and closing any trade. And if you are trading Bitcoins, then eToro may charge a transaction fee of less than 0.80%. Additionally, investors also gain the advantage to start trading activities with minimal investment of $10-$20.
To trade in Bitcoins, you need to have your login credentials created using a credible crypto exchange. Let us look into three key factors to be kept in mind while choosing a crypto exchange.
Security of transaction
Crypto transactions cannot be traced to their original investor. However, the same may not be the case with crypto exchanges. If the exchange that you are choosing is not credible or does not have adequate protection then all your investments can be hacked. This will include your digital wallet and private key as well.
Purchasing options
The payment and purchasing model vary from each type of exchange. Certain exchanges allow you to invest through your bank accounts using fiat currencies. There are other exchanges that allow you to buy Bitcoin using another third-party online platform including PayPal. Make sure that you understand the payment model before choosing the exchange.
Transaction Fees
This is an important factor enabling you to choose the right exchange. Most crypto exchanges charge investors from 0.50% to 10% for each transaction. There are certain exchanges that allow you to trade freely without any transaction charges as well. Ensure that you completely understand the tarnation fee pattern before choosing your exchange.
Reviewed and edited by Albert Fang.
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Article Title: Best Place to Buy Bitcoin, Dive Into a Galaxy of Crypto Exchanges
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