Crypto & Bitcoin Exchanges
Exchanges for buying and selling Crypto are designed to serve ONLY three purposes:
- For converting fiat currency (paper money) into bitcoin or alt coins such as Ether , Litecoin and Bitcoin Cash.
- For exchanging one Crypto currency for another (trading).
- For converting crypto currency into fiat currency (withdrawing back into your bank).
DO NOT STORE YOUR CRYPTO ON EXCHANGES LONGER THAN IS ABSOLUTELY NECESSARY.
You will have heard the reports of crypto being hacked , this is NOT the actual crypto currency that has been hacked. Individuals and companies have had their coins stolen from their accounts on certain exchanges.
This is the single best exchange for beginners. It is the fastest to set up and easiest to use. Sign up for an account by clicking here. (for full disclosure if you click this link Coinbase will pay both you and I $10 in bitcoin when you deposit your first $100 into your account).
Coinbase is the equivalent of Paypal for crypto.
Gemini is easy to use and is extremely fast at making your money available to spend when funded by card (immediate) or wire transfer (few hours).
An account with Binance can take weeks to open, so if you intend buying alt coins then you will want to apply ASAP. This is the best multi-coin exchange in my opinion.
Poloniex is another exchange which allows trading with multiple coins (but not as many yet as Binance). Opening an account is however much easier.
If you want to trade one coin for another Shapeshift is a quick and easy way to do so.
GDAX (Now Coinbase Pro)
GDAX is owned by Coinbase – if you already have a Coinbase account, you can login to GDAX with the same username and password. GDAX is designed for the more advanced user. You can instantly send money between these two platforms at zero cost.