Your first step into the cryptocurrency world will most likely occur through an exchange. There are two main types of exchanges that we will discuss in this guide.
The first type of exchange is what most people call a fiat exchange. This an exchange that allows the direct transfer of US Dollars, Euros, and most government-backed currencies to be traded for cryptocurrency.
The second type of exchange are cryptocurrency to cryptocurrency exchanges, that allow cryptocurrencies to be traded with each other. The most common pairings on these exchanges are Bitcoin and Ethereum. These exchanges will be covered more in-depth on the second half of this page.
Depending on what cryptocurrency you want, you will need to use certain exchanges. To get most cryptocurrencies, you will need to use both types of exchanges. This is because laws and regulations around certain cryptocurrencies make it difficult for fiat exchanges to sell them.
Each exchange has different pros and cons, so the best exchange for one person, might not be the best for another.
You should consider a number of things when determining the
best Bitcoin/cryptocurrency exchange for YOU:
- How safe is the website and server? Secure exchanges are better.
- How is the liquidity? The higher the exchange’s volume, the better.
- What are the exchanges fees? The lower the better.
- How is the exchanges customer support?
- What trading pairs are available?
- How many different payment options does it have?
- Is the exchange beginner friendly?
Here’s some information on some of the most popular fiat cryptocurrency exchanges.
Coinbase is considered by many as the most beginner friendly exchange. Its headquarters are in San Francisco, California. Coinbase allows its users to make recurring purchases when investing in various cryptocurrencies.
Coinbase charges 1.49% fees on bank purchases and 3.99% fees on credit and debit purchases. If you sign up to Coinbase using the above link, you will receive $10 in FREE Bitcoin on your first $100 order.Visit Coinbase