As bitcoin continues to grow, so do the options for purchasing it. Today, investors are spoiled for choice when it comes to buying and selling bitcoin.
New investors may find this a bit overwhelming. Never fear. This post breaks down and analyzes the five best sites for purchasing bitcoin.
One of the most popular sites for buying bitcoin is Coinbase. Based in San Francisco, Coinbase enables users to buy bitcoin and other altcoins using US dollars, British Pounds, or Euros.
Payments can be made using credit cards or bank transfers. Users in the US can make payments via Paypal, and Coinbase also plans to make this available to its European users.
The site is easy to use and a good option for beginners. The exchange offers good customer service and decent security. There is a verification process for users before they can begin trading.
CEX.io is a UK-based exchange. It offers a user-friendly yet sophisticated trading platform, appealing to new and experienced users. Payments can be made using credit cards and bank transfers, and users can sign up to the site via social media.
CEX.io has so far withstood any security threats to its network. However, its customer services are not as good as other exchanges and its fees are also higher.
CoinMama is a relatively new exchange based in Israel. It has gained popularity by accepting users from countries not accepted by more well-known exchanges. Its users can buy bitcoin with their credit cards from any country in the world.
While CoinMama offers quick payouts on bitcoin, it does not allow you to sell bitcoin on the site. The site has a daily purchase limit of 50,000 USD for its new users. This is a higher limit than the majority of exchanges.
CoinMama has expensive transactions fees compared to other exchanges. The site has not suffered any security breaches to-date.
Bitstamp is a peer-to-peer exchange based in Luxemburg. The site allows for bitcoin to be bought using USD and Euro with debit cards, credit cards, and bank transfers.
It offers an easy-to-use interface suited to beginners and also provides trading parameters and pie charts. Bitstamp’s security is decent; however, the site has been compromised a number of times. The fees for the site work on a volume-tiered basis.
LocalBitcoins is also a European-based peer-to-peer exchange. Similar to CoinMama, the Finland based company has gained popularity by letting users from any country buy bitcoin. The site accepts payments via PayPal, cash, and bank transfers.
The platform has an easy-to-use interface, and to ensure security, it keeps funds in escrow while trades process. It also offers a robust customer service to its users.
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