Where to buy Bitcoin and other Cryptocurrencies in 2021?
Buying Cryptocurrency in 2021 is one of the easiest things to do.
Bitcoin is a form of virtual currency that can be used to make digital transactions or traded in the same way that stocks and bonds can. A Cryptocurrency Exchange is needed to buy and sell cryptocurrencies, like Bitcoin.
The best cryptocurrency exchanges are secure, affordable, fast to set up, simple to use, and support a wide range of payment methods. Here are our recommendations for the best Cryptocurrency exchanges.
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This is in my opinion the overall best Cryptocurrency exchange: If you’re new to bitcoin and cryptocurrency, Coinbase is a great place to start because it supports a variety of common cryptocurrencies, has a solid security track record, and charges fair fees.
What I like about Coinbase
- With over 43 million confirmed users and a relatively long track record in the industry, it is widely regarded as a market leader in the United States.
- Fees are reasonable, and a large number of common currencies are supported.
What I don’t like about Coinbase
- Debit card purchases have high fees.
Coinbase, headquartered in San Francisco, is a major cryptocurrency wallet and exchange. It is a common option for cryptocurrency enthusiasts, investors, and traders, with over 43 million users in over 100 countries. Coinbase claims to have over $90 billion in assets under management and to have supported over $455 billion in trades. Coinbase allows you to trade a variety of currencies, including Bitcoin.
Coinbase has several fees that it discloses before completing a transaction. A flat per-transaction charge and a spread of around 0.50 percent are among them. Fees differ depending on the funding process, with fees as high as 3.99 percent when purchasing with a debit card.
In my opinion the best for borrowing: I chose BlockFi because it allows you to borrow money using bitcoin as leverage, exchange without fees, and lend money to gain interest.
What I like about BlockFi
- Deposit crypto into an account that pays up to 8.6% annual percentage yield (APY).
- Make a loan in US dollars with your precious bitcoin as collateral.
- There are no additional costs for cryptocurrency transactions.
What I don’t like about BlockFi
- There are loans with interest rates as high as 9.3%.
If you have a lot of cryptocurrencies and want to do more with them without selling, you should know about BlockFi. BlockFi enables you to earn interest when you deposit your bitcoin into an account. If you want to unlock your bitcoin without selling, you can also use existing bitcoin as collateral for a loan, but take note of the interest rates of 3% to 9.3% and the required 2% origination fee. You can also buy and sell bitcoin and other cryptocurrencies with no added trading fees.
Early adopters to the cryptocurrency bandwagon or with major holdings can earn serious interest with rates up to 8.6% APY (as of February 2021). BlockFi also has a new rewards credit card that will pay you in bitcoin, which shows plenty of innovation to come from this unique crypto exchange.
I chose Coinmama because it provides instant bitcoin transactions with a variety of payment options and high transaction limits.
What I Like about CoinMama
- Orders are delivered right away.
- Bitcoin will be sent to any cryptocurrency wallet.
- Fast account creation and a wide range of funding options
What I don’t Like About CoinMama
- The fee structure is complicated.
- There is a 5% surcharge for same-day delivery.
- ACH bank transfers are not supported.
Coinmama could be the best option if you want to own bitcoin as soon as possible and already have a bitcoin wallet. Coinmama offers fast account creation and verification. If you’ve logged in, you can buy bitcoin instantly using a variety of payment methods, though those instant purchases can come at a premium.
You can buy one of ten different currencies with a credit or debit card. When you place an order, Coinmama immediately verifies the funds using your linked passport, and the cryptocurrency you selected is deposited into your crypto wallet. Additional instant funding options are available in the UK and EU that are not available in the US.
Hopefully, they’ll incorporate ACH payments from the United States as a funding option, though the existence of electronic transactions in the United States prevents immediate purchases. Coinmama, on the other hand, allows you to instantly buy coins with any bitcoin wallet whether you have a credit or debit card and don’t mind the fees.
I chose Binance because it’s the most user-friendly Cryptocurrency Exchange.
What I like about Binance
- Fees are very low.
- A variety of cryptocurrencies to choose from.
What I don’t like about Binance
- There is no phone number for customer service.
- Has been hacked at least once (but compensated their users)
- Different domains for users in the United States, Europe, and the rest of the world
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