The Top 5 Crypto Exchanges to Buy Bitcoin in 2021
It’s a new year, and Bitcoin is on fire. The market is hot, and new investors are eager to join the party. While it’s true, you can find Bitcoin on a plethora of exchanges nowadays. It’s worth mentioning not all of these exchanges are the best place to buy the world’s oldest cryptocurrency.
Experienced investors understand that the exchange you buy your crypto from needs to be both secure and reliable. There’s nothing worse than when someone loses their hard-earned crypto because they didn’t DYOR and invested in a subpar platform. Unfortunately, this scenario is all too common. Here are the top 5 exchanges to buy Bitcoin from in 2021.
Buying Bitcoin is simple on Gemini. You can purchase your Bitcoin with fiat currencies, and your fiat deposits are FDIC insured like a bank account. Best of all, you can buy Bitcoin with credit cards. Credit card purchases allow investors to gain leverage in the market.
Gemini was founded by two well known Harvard graduates, Cameron and Tyler Winklevoss. These two outspoken Bitcoiners are also known as the famous Winklevoss twins. They made headlines when they became one of the first Bitcoin billionaires in the world.
Gemini is a fully US regulated cryptocurrency exchange licensed to provide BTC and ETH exchange services via New York regulators. Gemini investors enjoy a proven security track record. The exchange has never been hacked. Additionally, the platform offers superior customer support.
Read the full review of the Gemini exchange.
Kraken is one of the top exchanges to buy Bitcoin from in 2021. However, it’s been one of the best places to acquire this coin since 2011. The platform provides a lot of flexibility in terms of how you purchase your crypto. For example, the network accepts USD, JPY, CAD, and GBP.
Kraken is considered one of the largest exchanges in operation in the EU, where it holds a significant market share. Kraken also boasts an intense security protocol. The network keeps users’ funds stored via air gap in cold storage. All emails you send to the platform are encrypted, and you have to utilize a 2-factor authorization to withdraw funds.
Aside from these benefits, you can purchase Bitcoin and margin trade. Margin trading is an advanced strategy that allows users to borrow cryptocurrency and strengthen their position in a trade. Margin trading is a great way to increase your ROIs when done correctly. However, whenever you trade with leverage, you also increase your risk exposure.
Read the full review of the Kraken exchange.
Poloniex is another long time favorite of the crypto community. This exchange has remained flexible since its introduction to the market many years ago. Today, Poloniex is regarded as one of the oldest and most successful exchanges still offering services to the public. Poloniex has remained a dominant force in the market due to a variety of factors.
For one, it’s fully regulated. Poloniex was the first crypto exchange to seek regulatory approval from FinCEN actively. This desire to become a regulated exchange helped cement the platform as a pioneer in the sector. As a regulated exchange, users enjoy more protections and security than open exchanges.
Poloniex is great for both experienced and new users. The network features a user-friendly interface that simplifies navigating through the 100+ cryptos you can trade. This selection includes all the top coins in the market and some notable and exceptional new projects making a name. Even as Poloniex expanded its crypto selection, it remained true to its primary goal to service Bitcoin investors.
Read the full review of the Poloniex exchange.
It would be hard for any top exchange list to negate the importance of Binance in the market. In its early days, Binance decided against offering fiat to crypto services to avoid heavy regulatory oversight. Impressively, this move worked out perfectly for the network. Once Binance became the largest cryptocurrency exchange in market capitalization in 2018, it was easy to add fiat support.
Binance makes purchasing Bitcoin simple. You can buy Bitcoin using fiat currency, debit, credit, or bank transfer. You can also save on trading fees and other costs by utilizing the network’s native exchange token, BNB. BNB/Bitcoin trading pairs offer you a slight discount compared to purchasing the coin directly.
Binance is a massive platform that has branched off into various sectors of the market. Today, this blockchain ecosystem encompasses multiple exchanges. Recently, Binance launched a DEX (decentralized exchange). DEXs differ from centralized exchanges like Binance in that they facilitate peer-to-peer trades. This non-custodial approach is gaining in popularity because it is less likely to get hacked. After all, there are no large sums of crypto sitting in exchange wallets.
Read the full review of the Binance exchange.
Coinbase is another extensive platform that has secured its spot as a top exchange in the market. Currently, Coinbase enjoys the title of the largest exchange in North America via market capitalization. Coinbase has always sought to exceed the demands of regulators. The network was one of the first to introduce KYC integration.
This integration helped Coinbase attract institutional investors. The combination of regular traders and professional institutions provides the exchange with a significant amount of liquidity. You can trade vast amounts of crypto on this platform in seconds. Additionally, Coinbase is one of the most secure options available today.
New users will enjoy Coinbase’s basic functionality. Also, the platform features a limited number of coins to invest in. This combination helps new investors not to veer off track and get lost in the endless blockchain space. Additionally, it makes Coinbase extremely user friendly. You won’t need any technical skills to trade on this platform.
Read the full review of the Coinbase exchange.
Top 5 Exchanges to Buy Bitcoin in 2021
Now that you have some insight on the best exchanges to buy Bitcoin on, you are ready to start stacking sats. Bitcoin is at all-time highs, and the market appears ready to continue its explosive climb. You can expect to see more growth this year as the traditional financial sector has finally admitted that Bitcoin represents a fantastic store of value. Don’t miss out on the blockchain revolution. There’s still plenty of time to grab your Bitcoin.