Bitcoin is an investment vehicle that took the world by storm in 2017. The medium went from almost total obscurity that year to rocketing up to nearly $20,000 per coin in value. The most important thing to remember regarding Bitcoin is that it is an online currency that can be used for a number of different online purchases. Bitcoin has developed a reputation as an investment venture as well.
Indeed, many individuals tout the high investment potential of this medium but they fail to address just how risky the investment in Bitcoin truly is. Many investment gurus recommend only investing money you can afford to lose in this system. Still interested in Bitcoin? If so, here are some of the best places to purchase this online commodity. Each of these platforms has at least one major advantage to them.
Coinbase: Best For Beginners
Coinbase is presently the biggest and most well-respected Bitcoin platform in the United States. You will have to sign up by providing your banking information, but after doing so it is very easy to transfer money in and out of your account, which then turns them right back into Bitcoin. Although Coinbase will charge a fee for transfers, this is par for the course for most Bitcoin platforms.
Moreover, many reviewers of Coinbase discuss how they just love the fact of how user-friendly the platform is for those just starting out in the world of Bitcoin. Security is very important for beginners, and this is one area where Coinbase does their best to place their emphasis. 98% of their Bitcoin information is placed on servers overseas, which guards against angry U.S. hackers. Additionally, coin balances are insured up to $250,000 and all hard copies of accounts are kept in bank vaults throughout the world.
Robinhood: Best For The Lowest Cost
Although it originally started as a stock brokerage company where users could trade for free, the Robinhood app has now delved into the Bitcoin business as well. Probably the best part about this platform would be that it also offers no fees for trading in their Bitcoin area also! If there is any downside to using the Robinhood app, it would be the fact that it is only available in 19 U.S. states. However, if you reside in either Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia or Wisconsin, you can definitely use the app. Moreover, they continue to expand almost every day.
Square Cash: Best For Versatility
Square Cash has distinguished itself for being the most versatile option for trading Bitcoin that is available on the market today. This is because they don't hold your Bitcoin outside of Square. Instead, they place it in your Square Cash account on your behalf for whenever you are ready to sell or withdraw. Don't fret though - if you do want to send your Bitcoin to another wallet they offer that feature as well. Although they place a $10,000 maximum on the ability to buy Bitcoin for a week, there is no limit on how much you can sell per week.
Coinmama: Best For High Limits, Trading In A Multitude Of Areas, And The Fact They Don't Require I.D. Verification
According to Comprar bitcoin, Coinmama is based in Israel, making it one of the best Bitcoin exchange programs for those who want to trade worldwide. This medium also is good for those who want high purchase limits. With Coinmama, you have the ability to do this as long as you use a debit card or credit card.
Coinmama also has a very fast interface for those who regularly make purchases of $150 or less. The fact that Coinmama is fast and has a platform of trust built on a high reputation makes it one of the premier Bitcoin trading platforms in the world today. They also offer a maximum purchase limit of $20,000 per month and that is nothing to sneeze at either.
Coinbase Pro: Best For Those Trading With High Volumes
Coinbase Pro is a spin-off of Coinbase but with a twist: Coinbase Pro is best for high-volume traders. There is a high maximum where most individuals can trade or as much as $10 per month. Of course, there are some fees, but high-volume traders will be glad to pay these fees just for the convenience.
There you have it. These are some of the best Bitcoin trading platforms out there. However, there are several more you can consider that weren't listed. The best thing to do is your homework, and you will be sure to find the right trading platform that fits all of your needs.