Which Platform To Buy Cryptocurrency in 2022 | Safe Place To Buy Crypto

These days, it appears like everyone wants cryptocurrencies. You’ll need a crypto exchange to buy and sell digital currencies like Bitcoin, Ethereum, and Dogecoin to get in on the fun.

Forbes Advisor went through the leading exchange offerings and reams of data to discover the finest crypto exchanges to help you choose the appropriate one. All of them, however, come with one caveat: cryptocurrency investments are speculative and should only be made if you’re willing to accept huge price swings and a reasonable risk of losing your entire investment.

You’ll need to use a cryptocurrency exchange if you want to purchase or sell cryptocurrencies. These online services are similar to stockbrokers in that they allow you to purchase and sell digital currencies such as Bitcoin, Ethereum, and Dogecoin. With minimal costs and solid security features, the top cryptocurrency exchanges make it simple to purchase and sell the currencies you desire.

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Which Platform To Buy Cryptocurrency in 2022

Binance (Best Overall)

Which Platform To Buy Cryptocurrency in 2022
Which Platform To Buy Cryptocurrency in 2022

Fees(maker/taker) :- 0.1%/0.1%

Why We Chose Binance?

Binance. Binance US, a domestic exchange owned by the global crypto giant Binance, offers many of the same benefits as its parent firm, including industry-low fees and a wide choice of cryptocurrencies to trade.

Binance.US is a simple, form-based platform (under the Buy Cryptocurrency tab) optimized for transactions under $10,000 that allows you to buy, trade, and convert its tradable cryptocurrencies quite naturally.

Advanced users, on the other hand, can employ a variety of trading order types, such as limit, market, and stop-limit, as well as two powerful trading dashboards that provide vital data such as spot price and 24-hour highs, lows, and trading volume.

New users who have no idea what a candlestick graph is (much alone how to interpret one) may become overwhelmed and should stick to the Buy Cryptocurrency option until they gain a better understanding of the system.

Binance,  Most crypto investors will be satisfied by the US’s 50+ available currencies, but enthusiasts will miss the more than 300 cryptos that this domestic version lacks. Furthermore, not all inhabitants of the United States have access to the platform at this time: Binance is not available to residents of Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont. Accounts from the United States.

Regrettably, Binance. The teaching resources provided by the United States trail below those provided by the original Binance’s Binance Academy, as well as those provided by slightly more beginner-friendly exchanges, such as Coinbase, our top option for newcomers.

PROSCONS
Spot and general trading have low costs.
There is a large selection of cryptocurrencies available for trading.
User reviews and a high cybersecurity rating.
More educational tutorials may be required for newcomers to crypto.
Which Platform To Buy Cryptocurrency in 2022

Coinbase (Best For Beginners)

Which Platform To Buy Cryptocurrency in 2022
Which Platform To Buy Cryptocurrency in 2022

Fees (Maker/Taker) :- 1.99%/1.99%

Why Choose Coinbase?

If you’re new to cryptocurrency, Coinbase, the belle of the IPO ball in 2021, is the crypto exchange you might be most familiar with. That’s for a good reason: Coinbase Pro, Coinbase’s robust exchange, is one of the largest and safest platforms available. (Coinbase Pro, in fact, was a strong contender for Best Overall Cryptocurrency Exchange.)

Most people trying to come into the crypto realm, such as those hoping to hitch their waggons to Bitcoin and Ether, should be satisfied by Coinbase’s 100-odd tradable cryptocurrencies, but you’ll have to search elsewhere to invest in the extremely memeable Dogecoin. (This isn’t always a bad thing in terms of long-term wealth.)

Coinbase stands out for its user-friendly design, which makes it simple to make one-time or recurring bitcoin purchases. However, this convenience comes at a price.

Its perplexing price structure costs more than making the identical transaction using the company’s less user-friendly Coinbase Pro platform, which is also free. Unless you’re trading over a million dollars a month, you’ll undoubtedly find lower costs at most other big crypto exchanges if you’re ready to level up and become Pro.

ProsCons
The UI is user-friendly, and the purchasing process is simple.
Positive user feedback and high-security scores.
When users learn about bitcoin on its instructional Learn platform, they are rewarded with cryptocurrency.
High fees for the sake of convenience.
To gain access to the lesser pricing structure, you must use a second, more complicated platform.
Which Platform To Buy Cryptocurrency in 2022

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Rest Of The Best Crypto-Exchanges

Kraken

Fees (Maker/Taker) :- 0.16%/0.26%

Kraken is one of the first cryptocurrency trading platforms, with a wide range of coins and tokens to trade and invest in. They also allow you to trade on margin. It is, however, a real exchange that is not as user-friendly as other of the top platforms on this list.

Kraken is one of the few platforms on this list that lets you trade DOGE and other riskier tokens.

Note that US clients have access to a smaller selection of coins and tokens than international customers.

PROSCONS
One of the oldest cryptocurrency exchanges
High levels of trust and security
A wide range of cryptocurrencies and tokens are available for trading.
One of the more challenging platforms to work with.
Having trouble with 2FA
There have been several reports of bad customer service.
Which Platform To Buy Cryptocurrency in 2022

Voyager

Because it was one of the earliest publicly traded exchanges, Voyager is a popular place to invest in cryptocurrency. They are app-based and provide a commission-free trading environment.

Voyager accepts the majority of major cryptocurrencies, offers excellent customer service and involvement, and offers reasonable interest rates on assets.

Plus, if you open a Voyager account and trade $100 in crypto, you’ll get $25 in BTC.

PROSCONS
App-based UI that is very simple to utilise
Trading structure with no commissions
Voyager offers competitive interest rates.
Withdrawals are made gradually (can take upwards of 1 day)
In New York, it is not available (yet)

BlockFi

BlockFi is a bitcoin investing platform that allows you to lend your cryptocurrency and earn interest on it. You can also borrow against your assets rather than selling your coins and tokens.

If you merely want to keep your tokens, you can let them earn interest on their own.

PROSCONS
There are no commissions or fees.
Regulatory and based in the United States
Deposits might earn you a lot of money.
There aren’t many tokens and coins supported.
Free withdrawals are limited.

UpHold

Uphold provides a straightforward approach to trading numerous assets: open a single account and trade multiple assets without having to return to cash. If you’ve ever traded cryptocurrency, you’re aware that many currencies and tokens only trade in specific pairs, so you’re always returning to BTC or ETH. On the other hand, you can trade many assets at once on Uphold.

Plus, Uphold is one of the few exchanges that accept XRP, DOGE, and other cryptocurrencies.

PROSCONS
The pricing structure that is simple and transparent
Several cryptocurrencies and even certain equities, including well-known ones like XRP, are available.
Both desktop and smartphone apps are available.
Some of the items in this list are more difficult to use than others.
There have been several reports of bad customer service.

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WazirX (Best For Indian Audience)

WazirX gained popularity in India as a result of

  • The user interface of WazirX is really simple to use.
  • It’s simple to deposit and withdraw money.
  • For crypto trading, you can use your smartphone or the internet.
  • Binance app integration for investing in worldwide currencies
  • Trading and transfer fees are low.

In India, WazirX is famous for crypto investments, much like Zerodha is for stock investments. WazirX has its own token, WRX, which can be used to pay transaction fees (and save 50 percent on trading fees).

By purchasing Bitcoins with Indian Rupees, you can begin investing in cryptocurrencies. The current price of bitcoin is INR 31,58,892.63. However, you may also purchase 0.0001 Bitcoin for Rs. 315. Your Android smartphone can be used to purchase bitcoins. 

What Is a Cryptocurrency Exchange? How Does It Work?

An online marketplace where users can buy, sell, and trade bitcoin is known as a cryptocurrency exchange. Users can deposit fiat currency (such as US dollars) and use those funds to purchase cryptocurrencies on a cryptocurrency exchange, which works similarly to an online brokerage. Users can also swap their cryptocurrency for other cryptocurrencies, and some exchanges allow users to earn interest on their bitcoin holdings.

What Should You Look at When Choosing a Cryptocurrency Exchange?

There are various factors to consider when choosing a cryptocurrency exchange, including security, costs, and the types of cryptocurrencies available. It’s also crucial to know where your bitcoin is held and whether you can take control of it by transferring it to your own digital wallet.
There are controlled and decentralized cryptocurrency exchanges. Government financial rules (such as the Securities and Exchange Commission) are rigorously followed by centralized exchanges, and many will insure your cash deposits and require confirmation of identity to utilize the site.

How Can I Buy Cryptocurrency?

Most centralized exchanges allow you to buy cryptocurrencies with funds from your bank account, credit card, or debit card. The funds can then be exchanged for the cryptocurrency of your choice. While some exchanges simply offer a simple “Buy Now” transaction that only allows you to place a market order, others allow you to place more complicated order types such as limit and stop orders.
When you buy bitcoin, the exchange usually takes custody of it, and most exchanges hold it in offline “cold storage” for safekeeping. Most exchanges allow you to transfer cryptocurrency to your “hot” or “cold” wallet, along with the private keys for that cryptocurrency, if you want to take custody of it yourself.

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