If you’re a miner who’s already made some considerable amount of bitcoins, or you simply want to start trading the digital cryptocurrency, then you would be wise to find a good bitcoin exchange.
The top Bitcoin exchanges offer better rates and are far more secure than your garden variety exchange. Here are some of them.
Coinbase is one of the most renowned currency exchanges in the world.
It is situated in San Francisco, the exchange not only accepts US customers, but they also make the process of procuring, storing and selling your bitcoins much, much simpler than other venues. Here’s where we need to note that there is a period of a few days where your transactions are cleared.
Very few exchanges work directly with bank accounts and credit cards due to the risks they hold, which is why you have to wait for up to a few days for your transactions to get cleared. After that, you’re good to go. You can easily manage your bitcoins using the platform.
Coinbase even offers an app for automated buying and selling of bitcoins, but the platform isn’t really all that good for day trading since there is a fee of about 1% for every transaction.
Still, it’s a very nice and easy to use platform and a perfect way to enter the Bitcoin fever.
This is the best option for US citizens.
Bitfinex is a full-fledged trading platform that allows you a variety of different options.
However, unlike Coinbase, it’s not as easy to use and the options it offers might be confusing to new users.
The learning curve can be quite steep, especially if you’re new to this sort of field. Nonetheless, you’re going to have a great time here if you’re an advanced user. The fees can also be lower than Coinbase which is a great thing if you’re considering trading.
We feel compelled to warn you that the bitcoin market is highly volatile, meaning that if you know what you’re doing there is a great potential for profit, but if you don’t, the risk is huge. Make sure that you’re aware of what you’re getting yourself into before you start investing your money.
Kraken is one of the top Bitcoin exchanges, something between the two we’ve mentioned above.
It’s not as technical as Bitfinex, but it’s still a very good platform for trading (which is their primary focus).
The low fees and ease of use make it an excellent stepping stone for anyone who wants to enter the field. The security is top notch and the services – excellent. You can definitely check them out.