HOW TO BUY BITCOIN
Cryptocurrencies are digital currencies (digital representations of value) secured using cryptography. Interested parties can use them to purchase goods and services. They also enable individuals to make transactions without the interference of third-party intermediaries.
How does cryptocurrency work?
Unlike physical fiat currencies (e.g., the U.S. dollar), cryptocurrencies use decentralized networks, and their transactions are generally recorded on the blockchain, an immutable, decentralized ledger.
Every bitcoin transaction in the more than 15 years since the digital currency network began has been logged on the network's blockchain, which helps create greater transparency.
Cryptocurrency exchanges
A crypto exchange is a platform dedicated to facilitating the trading of cryptocurrency. Each exchange has its own rules for buying, selling, and trading cryptocurrency.
The best exchange for you depends on your needs, but beginners should look for exchanges that offer simple web and mobile interfaces, educational resources, and readily available customer support.
It is worth keeping in mind that while there is a large number of such marketplaces, there is a short list of organizations you should consider if you are seeking to use one of the best crypto exchanges out there.
BEST CRYPTO EXCHANGES & APPS OF 2024
If you’re interested in buying cryptocurrency, you need to open an account with a crypto exchange. There are 4 exchanges to choose from, and Forbes Advisor to determineted the best crypto exchange for both new and experienced investors.
Coinbase.com - offers more than 200 tradable cryptocurrencies, which should satisfy most investors looking to break into the crypto space. The platform stands out for an easy-to-use interface that makes one-time or recurring crypto transactions a snap. Customers who are interested in features like in-depth technical analysis might consider paying for Coinbase’s Advanced Trade product, which will also be augmented with increased security.
KuCoin.com - heavy crypto exchange when it comes to the sheer amount of coins available, KuCoin provides access to a wide library at low fees. The platform is headquartered in Seychelles, with a growing number of users in Asia, Europe, the Middle East and Africa. While U.S. users can access and use the trading platform.
Kraken.com - is one of the oldest U.S. crypto exchanges, founded in 2011 during crypto’s Paleolithic era. This platform offers a solid range of coins with very competitive trading fees. It’s also one of the few exchanges in the U.S. to offer margin trading and a suite of other advanced trading tools like advanced order types and futures trading.
Binance.com - is the leading cryptocurrency exchange by volume in the world and its user base is widespread across over 180 countries. It has several features which are perfect for beginners and it is very easy to use. You can also take advantage of its excellent Binance Academy learning section to boost your crypto knowledge. Binance offers a plethora of services that cater to anyone, from a complete crypto beginner to a “DeFi degen.” Increase your privacy by generating a new, unused BTC wallet after buying bitcoin on crypto exchanges on iOS, Android, PC Verison or browser extensions.
Exodus and Trust wallet are two non-custodial hot wallets covering broadly the same range of functions, including storing, swapping, buying, selling, staking, sending, and receiving cryptocurrencies. However, there are still differences between them.
Notably, Exodus offers slightly better security, as seen in its excellent track record. At the same time, Trust Wallet accommodates a more extensive range of cryptocurrencies, as it supports over 100 blockchains, compared to Exodus’ 50+.
Both wallets are available as mobile apps for iOS and Android, as well as browser extensions. However, Exodus also offers a desktop app, which is a big plus for desktop users.
The fee system is essentially the same, with the main differences coming from the third parties they partner with and their unique fees. Both let you easily swap and stake cryptos, though Trust Wallet offers a larger selection of cryptos to stake.