Best ways to buy crypto in 2024
When it comes to buying crypto, there are plenty of things to consider. Indeed, although there are plenty of brokers to purchase crypto from, they are all different. So, while some may be highly reliable and secure, others may be much riskier. Therefore, taking the time to learn about the various platforms available is a great way to decide which broker to use. Here is a closer look at some of the top brokers to choose from.
Start Trading Crypto Now with ByBit!What are the best places to buy crypto in 2024?
When searching for the best places to buy crypto, there are various factors to consider. Here are a few of the most important ones:
Low fees
No matter what platform you use to trade crypto, the best platforms have low fees when compared to other platforms. While the amount may vary depending on which platform you use, the best of them offer free spot trading to their users.
Security
Another very important aspect of a crypto trading platform is its level of security. This is because the crypto sector is highly unregulated overall. Therefore, if you want to make safe trades, you must make sure that you are working with a safe broker that has various safeguards to protect your investments. Generally speaking, the best crypto exchanges are well-regulated and have many reviews asserting their safety.
User-friendliness
Lastly, user-friendliness is a very important aspect of finding the best crypto trading platforms. This is because the sector is so new, and thus, there is a learning curve to overcome before you can learn to trade effectively. Therefore, you should be searching for platforms that are known for their user-friendliness to improve your capacity to quickly learn how to effectively trade on the platform.
Top 10 places to buy crypto in 2024
If you are interested in finding the best places to buy crypto, you have quite a few options. The crypto sector is booming, and there are plenty of companies adding crypto services every day, while newer companies are also emerging with the goal of making money off of crypto trades while encouraging their users to educate themselves on the crypto realm to become more successful traders. Here are 10 of the best places to buy crypto in 2023.
Eightcap
Eightcap offers more than 800 trading instruments, namely CFDs [contract for (price) differences] on currency pairs, cryptocurrencies, indices, stocks, commodities, and precious metals. The broker has a minimum deposit of $100, a free demo account, and two live account types, which differ in trading costs. One account type has standard spreads without a fee, and the other has raw spreads that carry a brokerage fee. The maximum leverage is 1:500. Traders can use any strategy with minimal restrictions. Trading is carried out through MetaTrader 4, MetaTrader 5, and TradingView. Eightcap has two main features. First, the broker has a powerful training and analytical base. Second, the platform offers a number of unique tools, for example, Capitalise.ai, which provides automated trading with minimal risk. At the same time, there are no options for passive income, not even a referral program.
Exness
The Exness brand is known worldwide due to its profitable trading conditions, high-security level, and wide range of financial instruments. It focuses on trading CFDs, especially currency pairs. Cryptocurrencies, commodities, stocks, and derivative stock indices are also available. Exness offers account types for novice traders, more experienced traders, and professionals. It allows traders to use a variety of strategies including passive ones, such as copy trading and algorithmic trading. The proprietary Exness platform for social trading is used by over 20,000 investors globally. The broker’s activities are legal and its services are available in over 130 countries. Exness is supervised by 8 financial commissions, including CySEC (Cyprus, 178/12), one of the strictest European regulators, and FCA (UK, 730729), FSA (Seychelles, SD025), FSC (BVI) SIBA/L/20/1133, CBCS (Curacao, 0003LSI), FSCA (South Africa, 51024), and CMA (Kenya, 162). The broker offers demo and cent accounts for novice traders, as well as standard and ECN account types for experienced traders.
Bybit
The Bybit cryptocurrency exchange first appeared in 2018. It is a standalone derivatives trading platform with inverse and perpetual futures contracts with up to 1:200 leverage. Quarterly USD futures are available at Bybit in combination with BTC, ETH, XRP, EOS, LTC, and multiple tokens. There is a linear futures contract on BTC/USDT. The exchange has several technological advantages: it provides for mutual insurance of market participants against possible sharp price movements. There are offsets for long and short positions, and there is market depth.
OKX
OKX (aka OKEX) is an international cryptocurrency exchange that has been providing financial services since 2017. On the OKX platform, you can buy and sell cryptocurrencies and earn money by storing tokens and providing funds for margin trading. The cryptocurrency exchange offers over 100 cryptocurrencies such as BTC (₿), LTC (Ł), ETH (Ξ), XRP, etc.), several ways to make passive income, and a base with educational materials.
XT.com
The XT.com exchange is a platform for P2P exchange and cryptocurrency sales, including derivatives and margin trading. This is also an exchange for fiat funds. The peculiarity of the cryptocurrency exchange is that it issues its proprietary cryptocurrency and provides users with software for mining. Bitcoin, Ethereum, Litecoin, Tether, Tron, Ripple, and other cryptocurrencies are traded on the website, with over 120 instruments provided here in total. There are tokenized assets. The leverage can be up to 125x depending on the selected asset. Any strategy can be used on the cryptocurrency exchange, including scalping. There are stop loss and profit functions. The storage method for cryptocurrencies is cold. Replenishment and withdrawals are possible from bank cards and accounts to bank cards and accounts. A standard affiliate program and special bonuses for blockchain members are offered.
FTMO
FTMO is an international proprietary trading company created in the Czech Republic in 2014. The platform brings traders into its fold and after traders successfully pass a two-step testing regime, FTMO transfers 400 thousand dollars to the trader’s account. Transactions are monitored by FTMO to grow the deposit. There is a payment of 80% at the first stage of real trading. The 90% Profit Split is available only to those FTMO Traders that have reached Scaling Plan. The company works in full accordance with European financial legislation and is under the local regulator.
Forex4you
The broker Forex4you started in 2007. The company provides a full range of active and passive trading services in the Forex market. The company runs its operations in the British Virgin Islands, under the license BVI FSC (license number SIBA/L/12/1027). Forex4you is committed to responsibility and professionalism. In 2018, according to Le Fonti, the company was awarded the ‘Best Broker’ which is the highest award achievable, and prior to this it has consistently won and received nominations for awards including ‘Forex Broker of the Year’ and ‘Best Service Quality’ nomination. Read more about Forex4You Available Countries.
TeleTrade
TeleTrade was established in 1994. The company won 2018 Traders Union Awards as the Best Broker in Europe. The brokerage company is a member of the Association of Forex Dealers, a self-regulatory organization in the financial market. The company is also regulated by the Cyprus Securities and Exchange Commission (CySEC, 158/11). The European branch of TeleTrade has adopted the brand name Earn.
The broker provides access to trading various currency pairs, as well as metals, stocks, cryptocurrencies, indices, and energies.
FxPro
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC, 078/07 (Cyprus), Bahamas SCB (SIA-F184), FCA, 509956 (UK), and South African FSCA (45052). FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The broker has over 2,100 trading assets in its pool, including cryptocurrencies, which are subject to the account type. The basic set of assets is available on cTrader accounts, the full set is available on accounts opened on MT4 and MT5. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
XM Group
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth, has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted more than 5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
What are the cheapest places to buy crypto
There are plenty of cheap places to buy crypto. However, ByBit is considered the best international exchange, while Binance is the best in the US. This is because they offer free crypto spot trading, which means you can buy and sell crypto without any fee. Moreover, they have a wide variety of cheap withdrawing methods.
Bybit Fees - Bybit is known for providing an array of futures and derivatives instruments. With low trading fees, those trading futures are subject to a taker fee and maker fees are only 0.06% and 0.01%, respectively. ByBit Fees Review – Is ByBit Cheaper Than Binance?
Binance: Binance never charges deposit fees for crypto. However, when dealing with withdrawals, users pay a flat fee to cover the transaction costs. These withdrawal rates are determined by the blockchain network and tend to fluctuate. Binance Fees Review
How to choose the best place to buy crypto online?
If you are looking for the best place to buy crypto online, you will need to take some time to consider various factors. Here is an overview of some of the most important factors to consider:
Low Fees
Next, you will want to focus on low fees. Although most platforms offer relatively low fees for cryptocurrencies, some of them are much higher than others. For instance, some charge a transaction fee every time you buy crypto, while others do not. Make sure you take the time to thoroughly research these fees before you decide which platform to invest your money in.
Multilingual Customer Support
Another great feature of a crypto broker is multilingual support. This is especially good for those who are multilingual. However, it can also be helpful in situations in which someone may do lots of traveling. Also, multilingual support is a sign that the platform is more established and reputable.
Use Friendly App
Lastly, you want to ensure that the platform is user-friendly. This is a useful feature because rather than needing lots of guidance, many people are able to figure out crypto brokerages on their own. Therefore, you will want to check the user-friendliness level before investing in any particular platform.
8 Best Cryptocurrency AppsHow to buy crypto online
If you are ready to buy crypto online, here at the steps to get started:
First, choose a Platform: The first step to purchasing crypto is to choose a broker. There are plenty of cryptocurrency exchanges to choose from and various traditional brokers that will allow you to invest in cryptocurrencies.
Figure out Where You Will Store It: Next, you want to figure out where you will store your crypto. You can keep it in a hot wallet or a cold wallet. Alternatively, you can also allow it to be stored on the platform you purchase them from. Best Crypto Wallets Security & Fees Comparison
Purchase Your Crypto: After that, you will want to make your purchase. This involves deciding how much your budget will be and purchasing the cryptocurrencies you have researched thoroughly.
Manage Your Investment: Lastly, you must manage your investment plan over time. Determine how long you want to hold your crypto before selling and figure out what the signs are that it’s time to sell.
Best crypto wallets to save your crypto safely
If you are wondering which crypto wallets are the best for keeping your crypto safe, they are:
Coinbase Wallet: The Coinbase Wallet enables users to manage their own private keys. while also storing their crypto coins on their devices directly. There is no way to connect Coinbase Wallets to your bank account or complete other similar transactions that veer outside of the crypto realm.
Trezor: The Trezor wallet is considered by many to be one of the best cold wallets for those seeking security. Trezor hardware wallets are the safest and most resilient way to secure Bitcoin and cryptocurrency assets offline. In addition, Trezor wallets never expose your digital asset information to an insecure environment connected to the internet.
Luno Wallet: Luno Wallet is considered one of the best crypto wallets for beginners. This is because it is highly user-friendly, making it simple for even the newest investors to use.
Ledger: Ledger is considered the best cold wallet with Bluetooth. It is also one of the most secure ways to store your cryptocurrency overall.
Trust Wallet: Trust Wallet is considered the best simplified hot wallet. It is a non-custodial digital wallet that stores cryptocurrencies using hot storage.
Arculus: The Arculus is considered the best cold wallet with a hardware card. This crypto wallet is considered highly secure because it offers 3-factor authentication and provides investors with cold storage for crypto and NFTs while also keeping your private keys accessible to you solely.
Is it a good time to buy crypto now?
When it comes to buying crypto, many investors are struggling to figure out the best time to buy it. It depends on various factors, including your unique investment strategy. For instance, those who assert that now is a great time to buy crypto are operating on the ‘buy and dip’ principle. In other words, this operates on the assumption that price drops are temporary aberrations that often correct themselves over time.
Therefore, dip-buyers are investors that purchase cryptocurrencies when prices are down. They do so in the hope of exploiting dips by buying at a discounted price and reaping the rewards when prices rise again. Either way, crypto markets are considered highly volatile. Therefore, buying cryptocurrencies at any price, no matter how high or low the price may be, is risky.
There is no way to know how low or high prices may get. So, while buying the dip may seem like a potentially lucrative practice, it could also serve to be one of the worst investments you have ever made. Therefore, when you are buying the dip, you want to carefully consider the product you’re investing in and do some research on how the crypto coin has performed over time. Moreover, make sure that you carefully consider your investment budget. On the one hand, if you genuinely believe in the coin, you may want to invest a more significant amount in order to make more money. However, you should also be mindful of the fact that you could lose everything. Therefore, you should never invest more money than you can afford to lose.
FAQ
What is double spending?
Double-Spending is a term used to describe using the same crypto coin twice. This is essentially impossible when dealing with currencies such as Bitcoin, which has a 21 million set limit on the protocol, meaning that no more can be produced. However, this fraudulent practice may be possible with other less secure coins.
What are the benefits of investing in crypto?
Some of the benefits of investing in crypto are its a relatively secure sector, the transaction fees are typically low, it can be a great way to diversify your investment portfolio, and the transactions are considered relatively secure.
How is crypto stored?
Typically speaking, crypto is stored in e-wallets, or they can be held on the crypto exchange you purchased them from.
How do you safely trade cryptos?
Choose reputable platforms and make sure that you are only trading what you can afford to lose and that you have a safe location to store them in.
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.