Top 8 Markets to buy Bitcoin

Salomon Kisters

Jun 12, 2023

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The past decade has witnessed the rapid rise of Bitcoin as a reliable storage of value. Additionally, with the increased adoption of digital assets by various governments, it is clear that digital currencies will continue to evolve in terms of use, variety, and functionality.

The rise of cryptocurrencies has also spurred the need for a robust marketplace that allows for the seamless trading of such digital assets. These markets —or cryptocurrency exchanges— have operations similar to conventional online brokerage firms and other central exchanges, allowing users to buy Bitcoin and trade other alternative currencies, such as Ethereum, Dogecoin, etc. Are you looking to buy your next Bitcoin? Read on to find out the best marketplaces. Let’s get started.

Markets Where You Can Buy Bitcoin in the U.S.

There are a variety of markets where users can buy Bitcoin. What’s more, with the advancement in technology, the crypto market also continues to evolve in how Bitcoin can be purchased. They include the following:

1. Independent Reserve

Independent Reserve was founded in 2013 and is arguably one of the biggest exchange platforms in the US. Offering unique low-flat fees with a user-friendly interface, Independent Reserve is an ideal choice for beginners. This platform also caters to institutional and high net-worth investors with an over-the-counter (OTC) trading desk that attends to high-volume orders.

The platform offers various educational resources to guide newbies in the crypto space, providing robust security measures and payment methods. Independent Reserve follows a low-risk approach in managing its business, ensuring complete segregation of customer assets —the majority of which are stored in various offline cold storage vaults.

2. Kraken

Kraken is currently the third-largest cryptocurrency exchange in the world, with a trading volume of $333 million. This crypto market allows its users to trade over 200 cryptocurrencies using a variety of fiat currencies. Based in San Francisco, Kraken grants its users access to buy and sell Bitcoin and other alternative virtual currencies.

Kraken is also popular due to the opportunities it affords its users. Aside from its large pool of cryptocurrency pairs, Kraken offers various lending and borrowing features, such as margin trading and staking. Finally, Kraken’s easy-to-use interface makes it a go-to platform for novices in the crypto space.

3. Coinbase

Coinbase is currently one of the world’s largest cryptocurrency exchanges, with statistics indicating that the platform has a trading volume of $513 billion over the last seven days. The exchange allows users to sell, buy, or store digital assets on the platform. With more than 10,000 assets to choose from, more than 108 million verified users trade using Coinbase.

One of its significant points of attraction is its highly intuitive and user-friendly interface that allows novices and seasoned experts to easily venture into the crypto markets and convert their fiat currencies to digital assets and vice versa.

Coinbase’s security features also ensure that users are notified when there are significant changes in the value of their assets. Moreso, the platform protects its users through mandatory 2-factor authentication and Know-Your-Customer processes.

4. Binance U.S.

Arguably the biggest cryptocurrency exchange in the world, Binance is a popular market that boasts a trading volume of $4.2 trillion in the past seven days. Created in 2017 by the famous investor and engineer Changpeng Zhao, Binance became an instant sensation, becoming one of the largest crypto exchanges in six months.

With verified users surpassing 150 million, Binance is known for its crypto-to-crypto trading and some of the lowest transaction fees. Binance encompasses high liquidity, offering services for trading, listing, de-listing, fundraising, and withdrawing cryptocurrencies.

The platform strongly focuses on its users’ security, using advanced security measures to protect their users’ investments. These include two-factor authentications, anti-phishing measures, and even secure asset storage.

5. Gemini

Boasting over 13 million users, Gemini Exchange is a global cryptocurrency exchange founded in 2014. With its operation spread across 60 countries, Gemini allows users to buy and sell Bitcoin with fiat currencies. Coupled with its streamlined design, the crypto marketplace boasts strong cybersecurity certifications that ensure seamless customer transactions.

Aside from its easy-to-use platform, Gemini offers advanced exchange platforms for seasoned investors. This is known as “ActiveTrader.” This product allows investors to execute high-performance trades, multiple order types, and dynamic maker-taker fees. This platform further ensures users can access a wide range of options, from NFT trading and yield-earning platforms to off-exchange transactions.

6. BitMart

BitMart is one crypto exchange that has continued to gain traction over the past few years. This platform currently serves more than two million users. Additionally, the crypto market has operations in about 180 countries. BitMart’s high liquidity has made the platform a one-stop shop for all traders.

BitMart is known for its easy-to-use interface that allows quick spot trading, whether you are a novice or otherwise. What’s more, with over 90 cryptocurrency pairs to trade and efficient portfolio monitoring, BitMart has become one of the go-to markets for crypto investors to buy Bitcoin.

7. Paxful

Paxful is one of the popular crypto marketplaces that allows users to buy Bitcoin. Serving more than 6 million verified users currently, Paxful allows peer-to-peer trading, hosting over 12,000 vendors. Founded in 2015 with its headquarters in Delaware, United States, Paxful encompasses many perks. For instance, the exchange does not charge any fee for buying crypto on its platform.

However, it should be noted that this does not necessarily mean investing in Paxful is cheaper. This is because crypto sellers determine their fees based on the payment method. Most payment methods may cost between 0.5% and 1%. Other payment methods, like gift cards, may cost between 3-5%. Finally, Paxful offers over 350 unique payment methods, including bank transfers, payment apps like PayPal, gift cards, and other cryptocurrencies.

8. Bitcoin ATMS

Finally, Bitcoin Automated Teller Machines (ATMs) allow customers to buy Bitcoin with deposited cash. At this juncture, we should note that a Bitcoin ATM is not the same as the conventional ATMs used by commercial banks. Rather, these ATMs create various blockchain-based transactions that eventually send digital currencies to the user’s digital wallet, often via a QR code. Therefore, it may be safe to say that the term “ATM” may be a misnomer for what these machines are. These machines are rarely operated by major financial institutions and are not connected to any individual’s bank account.

Conclusion

In conclusion, users may pick from a wide variety of crypto marketplaces. However, it must be noted that before engaging any platform, due diligence must be carried out concerning the platform’s extensive security features, fees, customer support, user experience, and storage options.

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Please note that the Content may have been generated with the Help of AI. The editorial content of OriginStamp AG does not constitute a recommendation for investment or purchase advice. In principle, an investment can also lead to a total loss. Therefore, please seek advice before making an investment decision.