Bitcoin is slowly gaining momentum and performing much better than what was expected of it.
Almost everyone around the world is familiar with the term “bitcoin” these days. Due to the new start-ups’ endeavor, even the non-technical people can now buy these bitcoins.
If you search up the net for “Bitcoin Exchange Platforms,” then the results will surely blow your mind.
But not every bitcoin exchange platform can be trusted. To enter their bitcoin exchange program, you need to verify whether or not they are reliable. Hence, to help you with your search, we have formulated a list of the verified and the best bitcoin exchange platform.
According to the initial coin offering details stores, more than 7.5 billion dollars have been raised through it in the year 2019, and in 2020 also the amount has increased rapidly. Now in the year 2021, it is expected that the amount will reach new heights.
Almost all of these platforms accept money via the method of wire transfer, and you can use these platforms from anywhere in the world. However, you need to make sure that bitcoin is legal in your country. For more information kindly check switchere.com
How to trade using Bitcoin?
We can use bitcoin to make online payment or to do any transactions. Bitcoin works on peer to peer network-based, which means that people can easily transact with each other directly without any bank, credit card, or any company. Bitcoin is considered to be the fastest and efficient to use in transactions. Nowadays, many people are adopting Bitcoin like online developers, entrepreneurs, non-profit organizations, etc. And because of this, bitcoin is being used for global payment all over the world.
Bitcoin trading is done with the help of a digital wallet. The price of bitcoin is the same all over the world at one time, hence it is quite easy to trade. The price of bitcoin keeps on decreasing according to the activities happening all around the world. Like the stock market, there is no set time for bitcoin trading. Its price fluctuations are also very rapid.
Best Bitcoin Exchange Platform
It is the biggest and one of the most rapidly growing Bitcoin exchange platforms. It is one of the largest eco-system that thrives on crypto-powered financial services.
You can easily buy bitcoin using your debit and credit card, and you can easily trade them and buy other coins. It can easily access your mobile. All you need to do is download the Binance app. The only drawback of this exchange platform is that it is not available to the US citizen.
Being an ICO, it has grown drastically in the past years and is now ranked #1 in the list of the top 10 bitcoin exchange platforms present across the world. Binance is one of the biggest marketplaces for Bitcoin.
Binance offers a decent discount for the day traders. All you need to do is register using your email address and start trading on this platform.
It offers its coin called BNB, which you can hold for an extended period apart from HODL.
There are numerous advantages to using Binance. Some of them are listed below:
- You can earn an interest in bitcoin.
- Staking is allowed
- No KYC is needed for daily withdrawal up to 2 BTC
- Future and margin trading facilitated
Coinbase is one of the most famous American bitcoin exchange platforms. It features one of the perfect interfaces, and you can also use the iOS and Android version of their app to buy both Bitcoins and Etheriums.
It helps to trade in numerous countries, and also learning how to use Coinbase is quite easy.
American citizens cannot use Binance due to security issues. However, they can easily trade using this platform. Hence, Coinbase has the edge over Binance for American users.
Upon signing up for Coinbase, they will give you a bonus of ten dollars upon a transaction of a hundred dollars.
Wazirx is another well known Crypto exchange in India which has recently (in 2018) joined the list.
It was started by an experienced team that is constantly innovating with a mission to involve every Indian in the Blockchain Revolution.
They have recently come up with a new method of Peer to Peer Trading, which enables Indians to withdraw and deposit INR (Indian Rupees) while trading cryptocurrency.
LocalBitcoins is popular among those who want to buy bitcoins using PayPal. According to Security, they have also added 2-factor authentication. Hence, whenever you log in from any other device, you need to do one more verification to confirm that it is you accessing your account. This platform thus offers security to your coins.
Bitcoin trading can be done through Kraken. For this, first you have to create your account. After this, the account has to be confirmed via email. Once the account is verified, you can select the trading methods. There is a chart for trading in which bitcoin price history. You can buy and sell bitcoins by ordering on time. The change in bitcoin prices is very unpredictable and fast, so be careful while trading in bitcoins.
Kraken is one of the largest bitcoin exchange platforms in the USA. It is quite easy to use and within one to two days of completing your verification, you can start trading using this platform.
One word of advice for all the bitcoin traders will be that you should not use these bitcoin trading platforms as a wallet where you can park your coins. Instead, you can use any digital wallet or even hardware wallets to store your coins. These platforms are not safe and they hardly provide any security for your coins stored in their wallets. Rather, opt for an online wallet that guarantees the safety of your coins.
Also, we hope that now you are aware of the various bitcoin trading platforms available in the market. Choose one which is well suited to you and your requirements and start trading. Lastly, remove the hassle of calculating your crypto taxes with great software like taxbit.