Bitcoin changed the country by storm when it rolled in 2017 from darkness to almost $20,000 worth of coin value. After that record high the cryptocurrency markets have settled down a bit, but many Bitcoin believers still believe that Bitcoin is the money of the future.
Need any basic details on what Bitcoin is, first of all? It is a virtual currency that is mainly used for online transactions and as an investment, although it is a very dangerous one. There is no government-funded. Rather, it operates through a program by which members in the Bitcoin community can gain “mining”.
It can be a digital electronic wallet connected to the account that you are purchasing and selling, software on your computer, or a physical interface that you are plugging into your computer.
Best Ways to Purchase Bitcoin 2020:
Coinbase: Best Overall
Coinbase is the country’s largest and most popular Bitcoin website. It offers both a wallet and an exchange in one, making Bitcoin one of the easiest places to start. Coinbase also helps Litecoin, Bitcoin Cash, and Ethereum.
The Coinbase wallet is safe, accessible via the Web app or mobile device, uses two-factor authentication, and maintains redundant digital and paper data backups “in safe deposit boxes and cellars all over the world.
Robinhood: Best for Low Cost
It began as a free stock brokerage and recently increased into the digital currency world. Best feature: No charges! On this website, you can purchase and sell Bitcoin and other virtual money at no charge. Robinhood helps cryptocurrency trading right in its mobile app and market info.
The biggest drawback is that as of May 2020, Robinhood does not work for crypto-currency trades in any state. But if you stay in one of those states, Robinhood Crypto is a fantastic choice for getting started trading in Bitcoin.
Square Cash: Best for Versatility
That’s another smartphone app where Bitcoin can be purchased and sold at no fee. The money app is now perfect for the free transfer of currency to friends and family. Yet contributing to the free purchasing and sale of Bitcoin puts the Cash app close to the top of the locations to purchase the Bitcoin list. The money software comes from Square, the organization that is making certain readers of mobile credit cards. Square is an immense financial technology firm with many other businesses in it. Bitcoin is just one little portion of what they’re doing. But the price is right, with no fees. If you want to invest in bitcoin and get its benefits you should read the impact of bitcoin in future.
Binance: Low Rates in Other Currencies
Binance supports a large array of digital currencies like Bitcoin, Ethereum, and its own Binance Coin. It charges very low costs for trades at only 10 %. If you’re looking to go way beyond some common coins, Binance is your best choice.
Coinbase Pro: Best for Active Traders
Coinbase Pro is a critical screen trading platform familiar to those using Bloomberg Terminals or active stock and option trading platforms. Based on the trading volume, it charges costs ranged from 0.04 to 0.50 %.
CoinMama: Best for Simple and Fast Payments
It’s an all-in-one exchange and virtual currency that provides purchasing Bitcoin convenient. CoinMama funds consumer purchases from its holdings rather than buying and selling on the free market, providing a little extra protection compared to other open market platforms.