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It’s a new year, and Bitcoin is on fire. The market is hot, and new investors are eager to join the party. While it’s true, you can find Bitcoin on many exchanges nowadays. Unfortunately, not all of these exchanges are the best place to buy the world’s oldest cryptocurrency.
Experienced investors understand that the exchange you buy your crypto from must be secure and reliable. There’s nothing worse than when someone loses their hard-earned crypto because they didn’t DYOR and invested in a subpar platform. Unfortunately, this scenario is all too common. So here are the top 5 exchanges to buy Bitcoin from in 2023.
Kraken is one of the top exchanges to buy Bitcoin from in 2021. However, it’s been one of the best places to acquire this coin since 2011. The platform provides a lot of flexibility regarding how you purchase your crypto. For example, the network accepts USD, JPY, CAD, and GBP.
Kraken is considered one of the largest exchanges in operation in the EU, holding a significant market share. Kraken also boasts an intense security protocol. The network keeps users’ funds stored via air gap in cold storage. In addition, all emails you send to the platform are encrypted, and you must utilize a 2-factor authorization to withdraw funds.
Aside from these benefits, you can purchase Bitcoin and margin trade. Margin trading is an advanced strategy that allows users to borrow cryptocurrency and strengthen their position in a trade. Margin trading is a great way to increase your ROIs when done correctly. However, you also increase your risk exposure whenever you trade with leverage.
Read the full review of the Kraken exchange.
It would be hard for any top exchange list to negate the importance of Binance in the market. In its early days, Binance decided against offering fiat to crypto services to avoid heavy regulatory oversight. Impressively, this move worked out perfectly for the network. Once Binance became the largest cryptocurrency exchange in market capitalization in 2018, it was easy to add fiat support.
Binance makes purchasing Bitcoin simple. You can buy Bitcoin using fiat currency, debit, credit, or bank transfer. You can also save on trading fees and other costs by utilizing the network’s native exchange token, BNB. BNB/Bitcoin trading pairs offer a slight discount compared to purchasing the coin directly.
Binance is a massive platform that has branched off into various market sectors. Today, this blockchain ecosystem encompasses multiple exchanges. Recently, Binance launched a DEX (decentralized exchange). DEXs differ from centralized exchanges like Binance in that they facilitate peer-to-peer trades. This non-custodial approach is gaining popularity because it is less likely to get hacked. After all, no large sums of crypto are sitting in exchange wallets.
Read the full review of the Binance exchange.
Crypto.com is a full-spectrum blockchain ecosystem that includes a market, wallet, and token (CRO). Users can buy, sell, get paid, and pay for with cryptocurrencies. The network has proven reliable, and the interface is easy-to-use for new users. Crypto.com is known for its deep liquidity, low fees, and the best execution prices.
Crypto.com offers Bitcoin and an excellent selection of other coins. In total, there are 80+ Coins offered at true cost. In addition, the exchange boasts that it has no markups. There’s also a selection of crypto-related services that make Crypto.com a popular platform for traders.
You can deposit crypto and earn interest paid weekly in crypto. You can also use your crypto as collateral for a loan. Additionally, the network supported a new VISA crypto card for select regions. Impressively, the card pays up to 8% back on spending. The Crypto.com VISA card is available in Canada, Europe, the UK, the USA, and Singapore.
Read the full review of the Crypto.com exchange.
Coinbase is another comprehensive platform that has secured its spot as a top exchange in the market. Coinbase enjoys the title of the largest exchange in North America via market capitalization. Coinbase has always sought to exceed the demands of regulators. The network was one of the first to introduce KYC integration.
This integration helped Coinbase attract institutional investors. The combination of regular traders and professional institutions provides the exchange with significant liquidity. You can trade vast amounts of crypto on this platform in seconds. Additionally, Coinbase is one of the most secure options available today.
New users will enjoy Coinbase’s basic functionality. Also, the platform features a limited number of coins to invest in. This combination helps new investors not to veer off track and get lost in the endless blockchain space. Additionally, it makes Coinbase extremely user-friendly. You won’t need any technical skills to trade on this platform.
Read the full review of the Coinbase exchange.
Special Mention – Robinhood Crypto
The Robinhood Crypto mobile app is a top choice for new users. The network is best known for its commission-free trading structure. The exchange has a simplistic interface that’s ideal for new users in the market. You can buy and sell all the top coins without the hassle of fees adding up.
New users will enjoy the fact that there are no account minimum balances. Also, any fiat deposits are available instantly. In comparison, all the most popular exchanges require certain minimums to trade. In this way, Robinhood is great for people who want to trade small amounts of crypto.
Robinhood offers a Gold service to interested users. You pay $5 monthly for Robinhood Gold and gain access to many new functionalities. For example, you can trade on margin, view market depth data, and access researched content. Notably, both the website and mobile app look and function similarly. You can try the Robinhood Crypto Gold subscription for free for the first 30 days.
Read the full review of the Robinhood exchange.
Top 5 Exchanges to Buy Bitcoin in 2023
Now that you have insight into the best exchanges to buy Bitcoin on, you are ready to start stacking sats. Don’t miss out on the blockchain revolution. There’s still plenty of time to grab your Bitcoin.