If you are a beginner in cryptocurrency and somehow you got interested you probably heard it somewhere in the news that Bitcoin is going crazy all time highs and you got interested on how you could possibly obtain or get some then you came to the right place!
The easiest way to buy Bitcoin is through exchanges, like the stock market there are series of exchanges out there for buying Bitcoin. One thing to consider on choosing an exchange is the fee for buying and selling Bitcoin. These fees could be astronomical that is why I am gonna share the top exchanges that I use.
Coinbase
Coinbase is the most popular Bitcoin exchange in the United States. It the easiest way to buy Bitcoin for beginners, it is very user friendly and it is not too technical, you can even do it through their app. You can hook up your bank account, you can also purchase Bitcoin using a credit card and you can use wire transfer, note that using a credit card could have a buying limit. You will also receive $10 of free bitcoin when you spend your first $100 ain’t that something!
Using a credit card in Coinbase for buying Bitcoin has some good things and bad things. The good thing about buying with a credit card is that your Bitcoin will be available almost instantly after you buy it, you don’t have to wait 3-5 business days for you to get your Bitcoin. The bad thing is that there is a limit on how much you can buy with a credit card and on top of that the fees are a little higher.
Using a bank account in Coinbase is not that bad, fees are much lower than just using a credit card but you will have your Bitcoin in 3-5 business days. Note that the price of Bitcoin will be locked in at the price you bought so don’t worry when the price of Bitcoin goes up. A couple of altcoins are also listed in Coinbase Etherium and Litecoin.
Gdax
I don’t have much to say about Gdax other than it is the number one trading platform for Bitcoin. Gdax is own by Coinbase it is a separate exchange that is for advance users, it is much more technical than Coinbase. It has all the technical indicators that you need for trading and what so great about it is that the fees is almost zero! That’s right, almost no fees at all. It does take a little bit of time transferring funds from your bank account to Gdax, but if you use bank wire transfer it will be available instantly, there is a little bit of fee for using bank wire transfer.
Gemini
Gemini is also great for buying and selling Bitcoin, it is number three in the list because this is what i use if Gdax is down for maintenance because thousands of people are on Gdax’s website at the same time and i guess their server can’t handle all the people coming in at the same time. So my alternative is Gemini, it is one of the best Bitcoin exchange, it has little to no fee and transactions always goes smoothly. So overall Gemini is one of the best their i love their website and you can also trade with Us dollars and that is a plus! A lot of exchanges does not do this feature so definitely Gemini is one of the best!