You may get more information on joining an exchange by reading our guide titled "How to Buy Bitcoin," which you can find here. To begin buying bitcoin, though, you will often need to join up for a platform, provide some basic information about yourself, and then either transfer fiat cash or another cryptocurrency to the site.
Before you put any money into Bitcoin, you should make it a priority to educate yourself about the cryptocurrency. Be sure to read our guide to Bitcoin before making any purchases so that you are completely aware of what it is you are purchasing and why it is so vital to keep your bitcoin secure.
Why use an exchange that exclusively deals in Bitcoin?
After gaining an understanding of Bitcoin, most individuals choose to ignore the noise caused by the numerous other cryptocurrencies and concentrate their attention solely on Bitcoin.
Exchanges that only deal in bitcoin exist because their operators understand the significance of bitcoin as a legitimate form of currency. These exchanges help the Bitcoin community and ecosystem thrive without the interference of less desirable coins or the potential for the latter's use to have adverse effects.
Which cryptocurrency exchange is the most reliable?
Peer-to-peer transactions that don't involve a third party taking possession of your bitcoins are generally considered to be the safest option. The majority of exchanges offer high-standard security, however it is impossible for them to be 100% safe against the risk of hacking. After making a Bitcoin purchase, you should always make a transfer to a hardware wallet as soon as possible in order to reduce the likelihood of losing your holdings.
Exchanges for Bitcoin Ranked 1–10 1. River is a bitcoin-only custodial exchange located in the United States. They promise to be exceptionally user-friendly and safe, and they provide a wealth of high-quality instructional resources to help users better comprehend bitcoin.
River levies transaction fees beginning at 1.20 percent of the total amount of bitcoin purchased but does not charge costs for purchases made on a regular basis. River not only saves every bitcoin offline in a cold storage facility but also provides its clients with the option to purchase bitcoin miners.
2. Swan, which is River's primary competitor in the United States, asserts that it is the most trustworthy marketplace to purchase bitcoin. River and Swan both offer services that are comparable, but the following are the differences in price: The River's start at 1.2%, while the Swan's are at 0.99%. They provide recurrent purchasing options on a daily, weekly, or monthly basis, and these options are made more appealing by the fact that they provide a very competitive USD/BTC exchange rate.
3. CoinCorner is a digital currency exchange that operates out of the Isle of Man, which is located in Great Britain. They provide their services in over 45 countries and have over 2 million users worldwide. The only currencies that may be used for deposits and withdrawals are pounds and euros. They charge a flat fee for each transaction, regardless of the total amount that is handled.
The United Kingdom and all of Europe do not charge a cost for deposits; nevertheless, the price for deposits outside of these two regions is a flat £25. The fee for withdrawals is either 1 British Pound or 1 Euro, depending on the currency being utilized. The act of depositing or withdrawing bitcoin is completely free of charge.
4. Bull Bitcoin is a well-established exchange that deals exclusively in bitcoin. It was founded in 2013 and has a reputation for being an easy-to-use service from the very beginning. There are no extraneous or distracting features on the homepage, and all of the critical information that you want on the service is shown straight away. You may utilize Bull Bitcoin to make online payments of your bills using bitcoin as well.
They have tiered transaction fees that begin at 0.5% for amounts ranging from 100 Canadian dollars to 1,000 Canadian dollars, and increase to 1.25% for amounts that are transacted that are greater than 10,000 Canadian dollars. They have received widespread praise for the quality of their customer service.
5. Robosats is a peer-to-peer Bitcoin exchange that is simple and fast to operate, making it an excellent choice for onboarding new customers. Customers are able to trade bitcoin via the Lightning Network by merely utilizing the TOR browser. This eliminates the need for customers to provide customer identification and verification information (KYC).
Users are also able to simply exchange Bitcoin on-chain for Lightning Network liquidity. The non-custodial exchange was launched in the early part of 2022. Although it has a great deal of room for development, it is intended to serve as a prototype for a bitcoin-only exchange that is founded on the principles of privacy and security.
6. Hodl In addition to being a Bitcoin peer-to-peer exchange, Hodl also provides services in the area of peer-to-peer financing. It is a platform that does not require any KYC or AML processes because it is not a custodial one. To get started trading, users may pay using a variety of different methods, including cash in person or by bank transfer. The exchange supports practically all fiat currencies.
The process of generating a contract and creating an individual multisig escrow is handled by Hodl Hodl in a straightforward manner. The buyer and seller come to an agreement on a mode of payment, after which the seller transfers bitcoin immediately from his wallet. The buyer's bitcoin wallet gets credited with the funds after the seller releases them from the multisig escrow.
7. Paxful is a Bitcoin exchange that also functions as a digital wallet. Customers may utilize a variety of digital currencies like as Tether, ether, and monero to purchase bitcoin using these payment methods. Paxful provides a broad variety of payment options, including gift cards and plane tickets, in addition to the standard bank transfers that are typically used.
8. The most accessible bitcoin-only investment app in Europe is called Relai, and it has its headquarters in Switzerland. Customers have the ability to set up a weekly or monthly savings plan for as low as 10 euros, and it enables quick bitcoin purchases using SEPA payment integration. Bitcoin users like it since it does not call for a deposit, registration, or a stringent "Know Your Customer" policy. Because of how simple it is to use and how stress-free the overall experience is, this software is ideal for inexperienced users who are interested in buying and holding bitcoin.
9. Bisq is a decentralized peer-to-peer cryptocurrency exchange that enables anybody to buy and sell bitcoin in return for fiat currencies as well as other cryptocurrencies. It is not a firm but rather free software that does not have any single point of failure and does not require servers that are centrally managed.
Because using the Bisq platform does not require providing any personal information or having a bank account linked to your profile, it is an excellent option for people who value maintaining their anonymity.
10. Cash App is worthy of particular recognition, despite the fact that it is not officially an exchange but rather a peer-to-peer payment system that enables users to buy and sell solely bitcoin in addition to equities.
The website enables investors to send bitcoin to their wallet; however, withdrawals are restricted to a maximum of $2,000 per day or $5,000 over the course of any seven-day period. When a purchase is made, Cash App discloses the fee that will be charged and explains that it is based on the price volatility and market trading volume.
Questions that are asked repeatedly
Where can I get the most favorable exchange rates for Bitcoin?
Although there is no "best" platform, you should be able to discover one that caters to all of your requirements. You will be able to locate the bitcoin-only exchange that best suits your needs, regardless of whether you prioritize simplicity of use, improved privacy, or higher security with a non-custodial service. Simply following our recommendations, which can be seen above, will provide the most accurate indication.
Which cryptocurrency exchanges have the highest level of credibility?
In general, decentralized exchanges, Bitcoin-only marketplaces, peer-to-peer platforms, and exchanges that don't rehypothecate but instead keep proof of reserves are more trustworthy than centralized exchanges.
Which cryptocurrency exchange has the most affordable fees?
Payment applications such as CashApp and Relai typically offer the lowest costs and are the simplest to operate compared to other options. However, costs can vary greatly depending on whether you are making withdrawals or trading, so it is best to keep an eye on the terms and conditions of the exchange to prevent any unpleasant surprises.
We are constantly on the lookout for the most recent addition, as new exchanges spring up on a regular basis, each of which is becoming more user-friendly and secure.
P2P platforms that are decentralized are always recommended to use, but this is especially true in light of the dramatic events that occurred in 2022, which included the failure of many cryptocurrency services, most notably FTX, Three Arrows Capital, and Celsius.
Moving coins out of exchanges as soon as possible after a significant trade has taken place is something that exchanges themselves have recommended for years, and the importance of doing so cannot be emphasized enough. This is true regardless of the service that you are using. The prevention of enormous losses in the past might have been accomplished with only a simple transfer from an exchange to a private wallet.