Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,165 trillion. Bitcoin is up by over 2% after a rollercoaster of a week. Ethereum decreased by almost 1% over the past seven days. XRP gained more than 15% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols…
How to Buy Altcoins with Fiat Currency in 2023
In the past, if you wanted to purchase altcoins to support these projects, you needed to first get your hands on some BTC or ETH. This extra step often meant finding a centralized fiat-on-ramp and locating an exchange that offered the Altcoin you desired. The process was cumbersome and required you to navigate multiple platforms and incur fees.
This process has been streamlined significantly, thanks to the introduction of altcoin/fiat trading pairs. Some top exchanges have expanded their fiat trading pairs to include some of the other popular coins in the market. This decision allows you to save time and lower your fees. Here are the top 5 places to buy altcoins with fiat currency in 2023.
Binance is the world’s largest exchange in daily trading volume. The exchange continues to expand its fiat pairing options and its altcoin selection. In addition, with the launch of the platform’s native blockchain, the BNB Chain, the network supports many of the top DeFi features, such as staking and NFTs.
Binance has deep liquidity and a high trading volume for many altcoins. Moreover, you can purchase crypto on the platform using a bank account, debit, or credit card. This flexibility helped Binance grow into the well-respected and top-performing exchange it is today.
Binance has a scaling fee structure that is based on your trading volume. In addition, the network allows you to receive discounted fees if you utilize its native utility token, BNB. Binance is a smart option for traders seeking a reputable platform with robust features and over 600 altcoins.
Bitpanda is another EU-based option that is respected in the sector. The network allows users to purchase Bitcoin and altcoins directly using fiat currency. It’s regulated in the EU and services many businesses and institutions. At this time, the exchange supports stablecoins, DeFi tokens, an excellent selection of altcoins, Bitpanda Pay, and a cryptocurrency index.
Bitpanda provides competitive fees with high security and reliability. In addition, the platform offers many unique features, including a savings account that pays interest on your holdings. Using the user-friendly interface, you can also automatically set up dollar-cost averaging (DCA).
Bitpanda has always had a focus on expanding fiat currency trading pairs. It was also one of the first Crypto Indexes available in the market. The Bitpanda index integrates a lot of automation to allow you to simplify your trading strategy. Users can select the top 5, 10, or 25 cryptos based on market cap and liquidity.
CoinMama is an established Bitcoin broker and exchange that offers users many fiat purchase options. Users can buy crypto using debit or credit cards. You can also fund your account with a wire transfer. CoinMama accepts SWIFT, SEPA, Fedwire, FasterPayments, and Sofort. Those with Apple Pay can also use this option to streamline the entire process.
CoinMama is one of the oldest exchanges on this list. The platform has been in operation since 2013. Over this time, it has gained a reputation as a reliable and secure user option. In addition, it built the platform with the concerns of new users in mind. As such, you don’t need any previous experience to find your way around the interface.
CoinMama operates as a Bitcoin broker. This designation means that you are purchasing your cryptocurrencies directly from the exchange. Many investors prefer brokers because they offer regulated services with consumer protection mechanisms. Additionally, they are fast and simple to operate.
Kriptomat is an EU-based cryptocurrency exchange and blockchain service provider. The network is regulated and offers custodial services to users. Kriptomat was built to remove many of the technical barriers facing new traders. The platform has a streamlined interface that takes no experience to navigate.
Kriptomat offers a selection of fiat/altcoin trading pairs and gives you some payment options that make it accessible to more users. The exchange allows you to register multiple bank accounts and purchase crypto using credit cards. This open approach is evident as the exchange operates in 80 countries and supports 20 languages. This international clientele base means that Kriptomat has deep liquidity with active markets 24 hours a day.
The developers behind Kriptomat integrated multi-layered security. The network has a sophisticated DDoS protection system and keeps 98% of its assets in cold storage. Additionally, Kriptomat offers low fees and high transparency. The network has undergone multiple third-party audits. Currently, US investors are not permitted on Kriptomat.
OkCoin is a cryptocurrency spot market exchange that offers users a combination of high liquidity and advanced order types. Users can purchase a selection of cryptocurrencies via fiat trading pairs. The exchange has no minimum deposit requirements and a high withdrawal limit.
OkCoin is a favorite among new and experienced traders. You can set your trades using market orders, limit orders, stop orders, trail orders, Iceberg orders, TWAP, and OCO. The network’s interface simplifies the entire process, as all the main functions are easily accessible.
OkCoin is licensed and registered in multiple US states. Additionally, international clientele gain access to leverage trading options. You can exchange from the web portal or the free mobile app. Best of all, OKCoin has a low fee structure compared to other top-performing altcoin exchanges in the market.
How to Buy Altcoins with Fiat Currency in 2023
Now that you have insight into the top 5 places to buy altcoins with fiat currency, you’re ready to further your investment strategy. First, it’s crucial you only trade on reputable exchanges that are established in the market. This approach will help to keep you protected from losses due to theft or hacks. Thankfully, any of the above exchanges can provide you with a secure trading experience and tools to increase your ROIs.