Where do you buy cryptocurrency? The answer is crypto exchanges. Apart from that, you can also buy cryptocurrencies from broker platforms and payment services in exchange for money and other investments.
In general, crypto exchanges are centralised, and some companies host them. It helps willing investors to purchase and sell cryptocurrencies on these platforms.
In this guide, you will learn about the best cryptocurrency exchanges from which you can buy/sell cryptocurrencies. This guide will contain basic details of each of these platforms as well as their pros and cons.
Therefore, to learn more about the best crypto exchanges to buy cryptocurrencies from, read on to the end of the article.
Cryptocurrency Exchanges: Basic Details to Understand
After the introduction of cryptocurrency, people had to manually enter commands in their computer terminals if they wanted to send a token/coin to someone.
However, after the development of user interfaces, people found it easier to access cryptocurrencies. In fact, businesses understand that once crypto becomes less technical to average users, it will become mainstream with time. Furthermore, with developments in staking, it got more mainstream.
Hence, they started hosting crypto exchanges, after which common people could access cryptocurrencies and own them. Actually, it became easy for people to transact in crypto and use them as assets.
Currently, cryptocurrency exchanges work similarly to a broker platform for stocks. On these platforms, you wil get enough tools to buy, trade, and sell different types of cryptocurrencies. One common transaction on these platforms is converting fiat currencies like USD to ADA, enabling users to invest in Cardano with ease.
However, before you join a cryptocurrency exchange, make sure you are researching well about its features. To learn more about how a cryptocurrency exchange works, check out the blogs at Coinfomania.
Review of Popular Cryptocurrency Exchanges
Where do you buy cryptocurrency? Here are some crypto exchange suggestions you need to check out if you are investing in cryptocurrencies for the first time:
1. Coinbase: Beginner Friendly
Coinbase has the largest number of supported cryptocurrencies. Hence, it is one of the best exchanges for beginners. Also, it comes with strong security features and supports advanced trading. Moreover, you can also learn how to buy cryptocurrency. Overall, it is one of the easiest platforms to use.
Pros
- You will have access to a large number of cryptocurrencies. Also, you can make multiple trading pairs.
- The platform is beginner-friendly and comes with advanced trading features as well.
- The exchange has high liquidity. Hence, you will find it easy to withdraw.
Cons
- Customer service is not up to the mark.
- The wallet is a part of a custodial account. Hence, there is no control over your private keys. This raises security issues.
2. Kraken: For Low Fees and Advanced Features
If you want a low-fee crypto exchange and advanced trading features, Kraken is the best platform to consider. Hence, it is a great option for experienced traders. This is because it offers advanced types of orders and even supports futures trading and margin trading.
Pros
- Supports a large number of cryptos.
- High liquidity.
- It comes with low fees for crypto transactions.
Cons
- Not many account-funding options.
- All the US States.
3. Crypto.com: Mobile App
If you want to trade cryptocurrencies from your mobile, this is the best exchange to consider. This is because the platform offers a variety of digital asset trading options. Also, you get access to an advanced ecosystem that is easily accessible from your smartphone.
Pros
- It has a high support of more than 350 cryptocurrencies.
- You will also have access to a wide range of cryptocurrency products.
Cons
The only not-so-good thing about this crypto mobile app is that it has poor customer support.
4. Gemini: For Optimum Security
Robust security protocols in Gemini allow it to have the best security features. Additionally, it also comes with insurance for your funds. Also, it has a SOC-2 (Service Organisation Controls) certification. Basically, SOC is a cybersecurity standard that crypto exchanges can comply with.
Apart from that, the user experience of Gemini is also simple and sleek. Hence, it is a great platform if you want security and user experience.
Pros
- Available in all the states in the United States.
- The exchange comes with high liquidity options.
- When you hold funds in your hot wallet on that exchange, Gemini offers insurance for them.
- The security framework of this platform is one of the best among all the exchanges.
Cons
- In some trading options, you might need to cough up high fees.
- As compared to other popular crypto exchanges, Gemini supports fewer cryptocurrencies.
5. Cash App: A Good Place to Buy Bitcoins
This is the best cryptocurrency exchange to consider if you want to buy Bitcoin. With the Cash App, you can securely and seamlessly buy/sell Bitcoins. Also, it is mobile-friendly and contains all the essential features.
Pros
- The interface is simple and easy to use.
- You will find it easy to withdraw your wallets.
- Also, it has support from the Bitcoin Lightning Network.
Cons
- It does not support any other cryptocurrency.
- The custodial wallet raises some issues regarding a lack of security.
- There are limits for sales, deposits, etc.
6. Bisq: If You Like Decentralised Exchanges
Bisq is the best-decentralised exchange in the crypto space. Hence, as a user, you can buy/sell Bitcoins from anywhere across the world. Also, you can trade cryptocurrencies fully in private and in a secure manner.
Pros
- The platform is available and accessible accessible from anywhere.
- You do not need to share your identification details. Hence, it is a highly private and decentralised platform.
- There are more than fifty payment options.
Cons
- At some points, you might face lags in transaction speed.
- In some situations, there are low trading volumes.
- If you want to perform active trading, this is not the platform for you.
Start Buying Crypto Now
Where do you buy cryptocurrency? – Now you know the answer to this question. It’s a cryptocurrency exchange. However, when you are looking for a cryptocurrency exchange, you need to do your research. Moreover, find essential details about wallets, key storage, accounts, security, and other features.
Do you want to share some more crypto exchange suggestions? Please share your suggestions and opinions in the comments box below.
