Have you heard of Bitcoin and would like to know which are the best cryptocurrency exchanges? Would you like to know how to get your first balance? Keep reading this article and we will teach you.
Cryptocurrencies, or virtual currencies, are a trend in our times and are considered very profitable. It is a type of decentralized currency with which you can operate from anywhere in the world.
If you are interested in getting hold of Bitcoins, Ethereum, or any other type, this is your article. In it we will highlight the best exchanges to buy cryptocurrencies. You will be able to make the decision of whether that broker or platform suits your needs.How to buy and sell cryptocurrencies in Spain?
The most recommended thing is to buy them on an exchange, which is nothing more than an exchange house that allows us to sell or buy cryptocurrencies in exchange for the usual currencies (USD, EUR …). Without further delay, let’s look at the 6 best exchanges to buy Cryptocurrencies.
There are two main ways to speculate on cryptocurrency prices: you can trade them through a broker or buy and own them through an exchange. When you trade cryptocurrencies through a broker, you will find several derivative products. Trading cryptocurrencies in derivatives means that you don’t actually own the cryptocurrencies, but simply speculate on the price movement.
On the other hand, buying cryptocurrencies on an exchange means that cryptocurrencies belong to you, they are your property. On this page, we will tell you how and where you can buy or trade cryptocurrencies along with the advantages and disadvantages of each method. Types of cryptocurrency platforms
A cryptocurrency exchange is comparable to a stock exchange, but instead of stock exchange deals, it focuses on cryptocurrency tokens. A cryptocurrency exchange, in essence, provides a place for consumers who want to buy and sell cryptocurrency assets to exchange digital tokens for current market prices. Typically, exchange platforms allow transactions or swaps in the following formats:
- Local fiat currency-to-cryptocurrency exchanges
- Transactions from one cryptocurrency to another
Some cryptocurrency exchanges want to provide a platform that focuses on convenience with a client, while others aspire to offer competitive prices and a platform that can be used by professional cryptocurrency traders.
A cryptocurrency broker offers products to traders, where traders enter into contracts to speculate on the price of the digital currency. Cryptocurrency derivatives include cryptocurrency options, cryptocurrency futures, and cryptocurrency CFDs. When you trade with a cryptocurrency broker, you don’t own the asset itself, just the right to buy or sell the underlying contract as prices change.
No, you don’t need a broker to trade cryptocurrencies. You can trade Bitcoin or any other Altcoin by visiting a legit cryptocurrency exchange that offers you what you are looking for and exchange them without the need for a broker. Alternatively, you can look for a cryptocurrency broker that offers a derivative product that interests you. You can also trade privately without needing a third party.What is the difference between a cryptocurrency exchange and a broker?
With cryptocurrency exchanges, you buy the cryptocurrencies and own them directly, while cryptocurrency brokers act as a mediator so you can bet and speculate on the price movements of crypto assets. Cryptocurrency brokers tend to undergo stricter scrutiny and regulation, as they also offer FIAT trading products and derivatives, while cryptocurrency exchanges are still in a regulatory gray area. The best platforms to trade cryptocurrenciesCoinbase
Coinbase is a platform known for its ease of use, although the fees they charge may vary by region and payment type. It is important to make sure you are satisfied with the commissions before buying any crypto asset.
- In addition to being a digital wallet, Coinbase is a software that facilitates fiat purchases for a wide range of cryptocurrencies, facilitates a wallet to its customers, has a full technical support service and stands out for its clear and easy-to-use interface.
- It accepts a wide amount of currencies, including credit and debit cards, and allows its customers to make payments through bank transfers and credit cards. Anyone can use Coinbase, as long as they have an internet connection.
- It has been designed to make the process of buying bitcoins as simple as possible, with clear step-by-step instructions at each stage.
Designed for novice and advanced traders, as well as traders who use the site often or occasionally, this exchange is an excellent option. Unlike the numerous APIs on other cryptocurrency platforms, their API integration is less widespread, which can be problematic for bots trading through the API. On the other hand, it makes up for it with capabilities that allow bot cloning, which is possible with copy sharing.
- In addition, eToro allows investments in various asset classes, such as cryptocurrencies. You will be able to trade a wide selection of stocks and commodities using the same platform as your cryptocurrencies, as that will allow you to trade multiple securities.
- However, keep in mind that eToro doesn’t have your keys and you’re not buying genuine crypto, but rather a form of “activity” that serves as a proxy.
- While eToro is a good option for traders who currently use the platform and want to speculate on cryptocurrencies in the short term, I would only recommend it if you intend to do the same.
Kraken is a well-known and commonly used encryption platform, with a commission structure that aims to make the system as accessible and clear as possible.
- Operating fees can be paid free of charge, or at a rate of 0.0% to 0.26%.
- Because creators get a lower commission rate, there are fees that are rated according to sales volume.
- This platform supports margin trading, dark groups, and also offers an OTC service, just to name a few of its other features.
At the moment, HodlHodl is a platform that we recommend to buy Bitcoin anonymously.
- You don’t need to provide a lot of information, as the only way to register is through email.
- Fees are four to five percent higher when doing it this way, but it applies on all platforms, even KYC platforms.
Cryptocurrency brokers to invest in cryptocurrencies
Traders who use brokers to buy and sell cryptocurrency derivative contracts do not own the actual cryptocurrency. This is because cryptocurrency derivative products are a form of speculative “betting”. Since traders do not own cryptocurrencies, they benefit from the rise or fall in the price of a particular cryptocurrency. These derivative products include:
- CFD trading: Contracts for difference (CFDs) that allow brokers to speculate on the rise or fall of the price of a digital asset. The trader can close the contract at any time, although the broker’s margin requirement determines the possible trading range. Other common CFD products include commodities such as precious metals.
- Futures: Traders enter into an agreement with the broker in which they are obliged to buy or sell a cryptocurrency at a specific price at a future date when the contract expires.
- Crypto options: They are like futures, but instead of a buy or sell obligation, options allow the trader to terminate the contract at the cost of losing the option premium (a deposit that essentially pays for the option to terminate).
How to avoid fraudulent platforms?
- Fake websites