8 Digital Currency Exchanges with USD to Bitcoin!

in bitcoin •  last year

How do we trade fiat currencies such as USD with digital currencies such as Bitcoin, Ethereum, or Litecoin which then are easy to swap with Steem and SBD using any Digital Currency Exchange or DCE?

Would you read this post or watch the matching video because you will see eight cryptocurrency exchanges where we can trade fiat currencies like US dollars, CAD, EUR, GBP, RUB, CNY, AUD, or any other currency issued by a government into BTC, ETH, LTC, and many others through Bitcoin exchanges?

Thank you very much to @gmichelbkk for converting the transcription of the YouTube video from GoTranscript into this beautiful post for Steemit, which is much faster to read than the video and has all of the highlights in screenshots! Our workflow begins with me filming the video, publishing it, and then paying about $0.75 a minute for the transcription on GoTranscript. Michel then edits the transcription for best reading here on Steemit especially by adding screenshots and removing the majority of the self-promotional and awkward language I use in the videos. Before posting Michel's transcription, I make final edits and then post exclusively now to Steemit instead of even using my own blog on my website! Hopefully explaining my workflow is useful for you in understanding how these posts arrive here!

Eight cryptocurrency exchanges to buy and sell Bitcoin in fiat like USD, EUR, and CAD.


I'm going to show you now eight cryptocurrency exchanges, with the hope that at least one of them will work for you in any country of the world.

What I'll do first is just show you the website address, and then show you a little bit more detail about each one. If you haven't heard of these websites before, I recommend that you take a look at them yourself and maybe sign up for an account and see if you can deposit using what they offer.

I hope this will give you insight as to which ones are worth using.

The top two exchanges in my opinion, and this is just from my personal experience, are coinbase.com and bitstamp.net. Between these two exchanges, especially if you can make a wire transfer and ACH transfer, or a SEPA transfer in Europe, you should be able to buy Bitcoin on either of them.

Coinbase is available in 30 plus countries and I think that you can use Bitstamp in most of the world if you can make a wire transfer over there.

Kraken.com and gdax.com may also work for you, as well as gemini.com and xbtce.com.

Finally, you have localbitcoins.com and wallofcoins.com.

Now, these last two exchanges are significantly different from the first six.

Coinbase, Bitstamp, Kraken, Gdax, Gemini and xBTCe all require that you basically set up an account online and make some kind of bank transfer to them, or if you've already got Bitcoin or other currencies, you can just deposit that.

Now, you can actually use cash out of your wallet to go make a deposit with LocalBitcoins or Wall of Coins. With Wall of Coins you deposit directly into someone's bank account, and with LocalBitcoins, you can interact directly with other sellers.

I highly recommend figuring out if you can use one of these first six, because they are the best ways to buy Bitcoin online with fiat. However, if you can't use any of them, you may be able to use LocalBitcoins or Wall of Coins.

Once you have got Bitcoin, what you can do to buy an altcoin is either use bittrex.com, which can be pronounced "bit T rex dot com" and is currently my favorite, or poloniex.com, which is the one I've used the most.

Once you have bought Bitcoin on one of these other eight websites I mentioned, then you can buy into all these other cryptocurrencies you're excited about like Ethereum, Litecoin, Steem, Dash or New Economy Movement.

Whatever you are excited about, you can get into that easily on Bittrex and Poloniex. These other 8 websites are consistently adding more as well.

That's the basic of how you get started.

What I'll do now is give you a more in-depth look at each of these different websites that I hope will be helpful if you've never heard of several of them, or if you want to see how they can potentially work for you.

Coinbase.com


The number one website I've used personally is coinbase.com.

There's a link to this on my resources page on my website, and I'm grateful that 177 people have already signed up for Coinbase through my link, and actually bought or sold at least $100 of Bitcoin.

If you want to signup for Coinbase, would you please use this link, because Coinbase gives you and I, each of us, $10 in Bitcoin when you signup.

Coinbase is what I've used to buy and sell over a hundred thousand dollars of Bitcoin because it's really fast. All I do is go into the dashboard and I can buy and sell with a 1% fee. Coinbase also allows me to make ACH transfers with no fee directly back and forth between my bank account and it also accepts wire transfers.

Now, the main problem with Coinbase is that it's not available everywhere, and features may be limited by your country.

Now, if you're in Australia, it can be tough to buy in with a lot of websites, but you can buy in with a debit or credit card supposedly on Coinbase.

Coinbase is available in Singapore and in most of Europe where you can use your bank account deposit and a credit or debit card.

You can also use a credit or debit card to buy in Canada. However, I recommend against Coinbase in Canada because there are better options available elsewhere.

Now, in the United States, you can use your PayPal account. You can deposit with your bank account and withdraw. It's very easy. You can also use a credit or debit card, and that's where I'm located.

Now, if you don't like to use Coinbase, or if it's not available in your country, I recommend using bitstamp.net.

Bitstamp.net


The fees are lower than Coinbase for bitstamp.net and they seem to be based in the UK. I recommend, if you're in Europe, to use Bitstamp because it is a great option. It says "rest of the world" here on their wire transfer.

Now, the basic thing you need to be able to do to buy Bitcoin with one of the six websites I showed you, is to be able to do a wire transfer from your bank.

If you're in Malaysia, you will need to be able to do an international wire transfer.

Bitstamp has the option to register an account all over the world and you should be able to wire almost any currency straight to Bitstamp according to their deposit instructions.

"International Bank transfer deposits, US dollars, all other currencies will be converted to the selected balance currency."

This means you should be able to wire from almost any country in the world straight to bitstamp.net, and then get your deposit on there.

Bitstamp is extremely fast to buy and sell. I transferred $130,000 in transactions in one day when I sold my Dash masternode, it went through incredibly quick and it was easy to do. Bitstamp.net is outstanding for buying Bitcoin, and I think in almost any country in the world, you should be able to do an international bank transfer with a pretty low fee, and then get that credited to your account.

If you're in the US, it's pretty easy to buy Bitcoin on lots of different websites, but if you're in the rest of the world, not in the US or Europe, bitstamp.net should work good for you. Now, would you please comment if I'm wrong to help other people learn whether it's available in your specific country or not.

The cool thing is that you can actually use your credit card, at least in the US where I'm at, but also in many other countries in the world.

Now, the fee is big!

If I drop a $5,000 purchase on my credit card, that's a $250 fee.

"Ouch!"

Then, what if you buy it and the price goes down?

That's even worse.

Sure, you could buy it at 5%, the price could go up 20% and it might be worth it.

Still, you should be able to use bitstamp.net to drop it straight on your credit card, which I think is outstanding.

Now, if you don't have cash in the bank, and you're going to just put it on a credit card, I'd highly recommend against that.

However, I trust your judgment, maybe you can make something good out of it.

In my opinion, the top two options in my mind to buy Bitcoin with fiat currency online are coinbase.com, which is really easy to use and available in 30 plus countries, and bitstamp.net.

If I had to just rank one of them, I'd probably say that Bitstamp is the top globally, and in the US, Coinbase is extremely convenient for me personally.

Now, what I highly recommend is to check out both of them first and if you can't use either of them, or if you've already used them and want something else, then there are more options.

However, these tend to be a bit more limited than Coinbase and Bitstamp.

Kraken.com


Now, you should be able in lots of different areas to buy on to kraken.com as well. You can do the very same type of deposit as Bitstamp.

You can use a SEPA deposit if you're in Europe and that's free, you can use a bank wire out of the US, you can do a bank wire in Europe, you can do a US dollar bank wire deposit outside the US or you can even do Japanese yen.

If you're in Canada you can do a Canadian wire deposit for free, you can also withdraw straight in these methods as well.

You need to be able to do a wire deposit anywhere except Europe to get on to Kraken.

If I'm reading this correctly, you may also be able to do a Japanese yen bank deposit straight on there.

Between Kraken and Bitstamp, you should be able to buy Bitcoin in whatever country you're in, and the fees are pretty good.

On Kraken, you've got some more possibilities, and you can trade as well. Kraken has a lot of different currencies you can buy.

On Bitstamp right now you can only buy Ripple and Bitcoin with your fiat currency, while on Coinbase you can only currently buy Litecoin, Bitcoin, and Ethereum.

Kraken is one of the few where you can make a deposit and it looks like you can do it for most of the world, then there's a lot of trading pairs. You can go Dash, Ethereum, or Ethereum Classic, and there are several other things you can trade straight on Kraken as well, which might eliminate the step of going to sign up also on Bittrex or Poloniex, to give you the ability to trade a lot more of these different cryptocurrencies.

Kraken is a great option if you want to give it a try. If you don't know what an international bank wire transfer is and that sounds intimidating, look into it, just go to your bank, ask how you do it, or google it online. You want to be able to do an international bank wire transfer if you want to buy Bitcoin online.

Gdax.com


Now, you've also got gdax.com in the US, which has Bitcoin, Ethereum and Litecoin. Gdax is well connected with Coinbase, I'm not sure if they own it or if it's a partner somehow, but it's basically like an extension of Coinbase. In terms of the countries it works in, they are very similar to the ones that it works in for Coinbase.

You can send a wire transfer into Gdax, you can also deposit with ACH or SEPA on Gdax as well, and then you can withdraw up to $10,000 a day on it. You can deposit on Gdax, however just like Coinbase it doesn't work in Canada, it does work in Europe and in the UK, but Australia and Singapore have limited trading functionality as well.

Gemini.com


There is another website called gemini.com.

Gemini works for the US and Canada, but also for Hong Kong and South Korea. If you're in one of these countries specifically, you might be interested in making a deposit through this site instead of using one of the other websites.

Singapore, the United Kingdom and Puerto Rico, are also supported.

On Gemini you can buy in with US dollars in Canada, I hope they'd support Canadian dollars, but it looks like they just do Bitcoin/US dollars on everything.

In fact, you can buy Bitcoin in the US as well as Canada, Hong Kong, Singapore, and South Korea on Gemini using the US dollar, and that looks good to me.

XBTCe.com


Now, there's also xBTCe, which has a knowledge base in Russian as well as these other languages.

You'd hope that with support documents in Russian and Chinese they'd be able to get Russian and Chinese customers on board on xBTCe.com.

They've got listed here wire transfer and Perfect Money. They also have FasaPay and others listed as well. Basically, this looks like you're going to need to be able to make wire transfers as well.

However, it says "Profit can also be withdrawn by wire transfer."

xBTCe might work for you as well, and that's a basic coverage.

As a quick summary, Coinbase and Bitstamp.net are my two top choices, Kraken and Gdax, Gemini and xbtce, also look like excellent options.

These are six websites where you can essentially deal straight with the exchange, and in terms of getting the best price that is what you want.

Now, with these final two, you have to deal with individual sellers essentially.

Wallofcoins.com


Now, I've used Wall of Coins on over $50,000 of Bitcoin transactions.

I have a course on my website that shows how I used Wall of Coins to buy Bitcoin and then sell it marked up 10%. You can enroll in the course for free using this link with a free coupon: http://u.jerrybanfield.com/courses/btc111?coupon=steem

Now, I also got my bank account closed because I did too many transactions for too high of a dollar amount. If you want to do that successfully, you will have to do it on a smaller dollar amount.

Wall of Coins allows you to buy Bitcoin directly from other sellers and this currently works in the US, and it may have functionality in your country.

Just try it out and see if there's any accounts available for your country, if not, then it doesn't work for you.

Wall of Coins is nice because you can use cash directly from your wallet and I know the owner. I also have a half percent ownership in the company as well, so it's important to disclose that up front here.

I've used Wall of Coins to buy, but mostly sell about $50,000 or so in Bitcoin. What I would do is buy Bitcoin on some of these other websites, put it for sale on Wall of Coins, and mark it up. There's essentially a convenience fee that you get for being able to pay directly in cash.

How does Wall of Coins work?

As a seller, you sign up and connect your bank account to Wall of Coins, you then deposit your Bitcoin, and I think they have Dash available now as well. You deposit that on Wall of Coins, buyers come along and make cash deposits in your bank account. Once you confirm the deposit, then Wall of Coins gives the buyer their Bitcoin or Dash, and you've already got the cash deposit in your bank account.

If you do this on small amounts, like buy $180 or less at once, this can work really well. The banks typically aren't that interested in smaller deposits.

Now, where I went wrong is that I was taking two plus thousand dollar deposits at once and the bank got kind of curious as to why people all over the country were making huge cash deposits into my bank account all at once. I sold more than $10,000 in two or three weeks, and then my bank flipped and just closed my account.

This is a great fast way to buy some Bitcoin online if you want to directly deposit cash into a bank account in the US. I like it because you know that Wall of Coins has the Bitcoin there. You don't have to deal directly with the seller using Wall of Coins.

If you're in the US, then this might work really good for you.

Localbitcoins.com


Another option is localbitcoins.com.

Now please, would you continue to read through this? I'll mention some problems at the end of this section.

You have 248 countries on localbitcoins.com currently where you can buy and sell Bitcoin near you.

Now, this is a good solution if you are having a hard time with using these other websites. I do not recommend using LocalBitcoins or Wall of Coins if you can use one of these others.

It might be real easy to just go give someone $100 in cash somewhere and buy Bitcoin, but it's much better to get Coinbase, get one of these set up if you can.

They each have different payment methods and you need to be aware of the exact terms and conditions. I've never used LocalBitcoins before so you may have other issues with it. However, I'll give you the set up simply.

What you can do on LocalBitcoins is go transact with a seller near you who has Bitcoin, and then buy the Bitcoin directly from them. Now, there are all kinds of things that you could potentially go wrong with this. However, LocalBitcoins seems to do a good job. They've got feedback ratings and you can see how much sellers have done.

This one for example is a cash deposit to a specific bank and you can look at this seller. You can see how long it takes them. You can see the confirmed trades. You can see the feedback score. You can see all these things verified on the page.

What you do essentially is pick a local seller and the price you pay per Bitcoin. Now, you're likely to get some marked-up prices on this website because you're essentially paying a cash convenience fee.

If you use Canadian dollars on a site like Bitstamp, you can buy Bitcoin for about $3,000 Canadian dollars. You'll see that the lowest price is $3,400 Canadian dollars for Bitcoin, and that means you're paying a significant markup.

You can essentially buy a bunch of Bitcoin on one of these other websites and sell it on LocalBitcoins at a 10 plus percent markup. You'll see this is currently about a 13 to 15% markup here.

If you can't use one of the other methods, LocalBitcoins will give you the chance to buy in, but you're likely to pay a premium for dealing directly with another seller. Now, this might be a really good opportunity also to use LocalBitcoins if you can buy on Bitstamp.

If you can go buy $10,000 of Bitcoin with a wire transfer on Bitstamp, you could then probably sell it for $11,000 on LocalBitcoins. I would imagine that's what most of the sellers are doing on LocalBitcoins.

This is a really good opportunity.

You can then buy online in Canada or you can meet directly with another seller in person and buy cash. There are different sellers, they take things like PayPal, there are all kinds of different options, so if you explore on LocalBitcoins, you can figure out what's the best for you.

Warning!


Now, problems with LocalBitcoins and this could be a similar issue with Wall of Coins.

Sometimes Bitcoin is being used as a payment by some of the illegal markets like drug dealing and everything else you can get on the black market, and then the way they're able to cash out is to conduct these local transactions.

For example, a drug dealer tells you that you'll pay in Bitcoin. You give the drug dealer the Bitcoin. They give you the drugs, and then the drug dealer goes to sell the Bitcoin on LocalBitcoins.

Now, you can run into some of these things in buying and selling locally on either end.

One of the reasons I've stopped selling on Wall of Coins and I haven't even started to sell on LocalBitcoins, even when I can see I could easily make 10% per transaction, is that I don't want to get in the middle of someone else's money laundering scheme without my own knowledge.

That would be pretty stupid, and there are court cases and stories on the news of people going to jail being involved in money laundering using things like LocalBitcoins.

Wall of Coins might be too new to have got into anything like that. These can be an issue using something like LocalBitcoins.

Summary


I hope in presenting all this to you I've given you a comprehensive look at different ways to buy and sell Bitcoin, and then from once you've got Bitcoin, you can easily buy into everything else.

If you use a website like Coinbase, Bitstamp, Kraken or Gdax you can actually buy straight into something besides Bitcoin as well.

You can buy into Ethereum directly on Gdax with US dollars, same thing on Coinbase along with Litecoin. On Bitstamp you can buy directly into Ripple currently with US dollars. On Kraken, I believe there are lots of options you can buy straight in with US dollars and I'm not sure about BTC-e specifically.

All it looks like right now on LocalBitcoins is Bitcoin, but on Wall of Coins, you can actually buy straight into Dash as well with US dollars.

I hope this has provided you a comprehensive look at how to get a hold of Bitcoin.

Then once you've got Bitcoin, you can deposit it either on bittrex.com or poloniex.com, then you can turn it into all these other currencies.

Investment opportunities


Some of the very best investment opportunities can be to buy into some of these altcoins.

Now if you've looked at the charts, Ethereum just went from $170 to $230 in the last couple of days. I'd say that would have been a great investment, but I thought it was overvalued at the time.

Now Ripple was as high as 30+ cents, and it is down to 22 cents.

Some of these other currencies have had just explosive increases like Stratis, which is up 32%, and that I've never even heard of or used.

Then, some of these other currencies are down significantly. PIVX went as low as under a dollar, it is back up over $1.60 today. It's just crazy. Some of the most fun I have is to trade in these other currencies.

Once you've got your Bitcoin, Ethereum or Litecoin, and have a system where you can buy US dollars or Euros or whatever you're using, you could put it on to Bittrex and start trading.

You can see these Bitcoin markets up here on Bittrex.

You can trade all kinds of things on these markets, you can have lots of fun, and you can invest at the same time.

I think that one of the best ways, if you don't know about any currency in particular and you just want to invest and make some money on it, is to split it up equally and buy across all the different market.

On Bittrex you can buy into 150+ currencies and if any of them absolutely blows up, then you're going to come out way ahead. If you don't know about any of the currencies, this is a great way to do it because it's a diversified portfolio.

That way you don't lose that much on any one particular currency, and if any of them blows up and goes up 10 or 100 times in value, you make so much on that one, that it will cover almost all the rest of the losses for your whole portfolio.

Then, as all the altcoins go up over time, you've got a good chance to just continuously build and build on your profit.

Another way to do it is to go all in on one specific currency. Now, this is better if you've researched and learned about your different options. There is one currency that I went all in and I'm really excited about. I'm so pumped up about it, that I've sold everything else and bought into that currency.

These are two different basic ways you can do your investing.

Thank you very much for reading this, I love you.

If you found this post helpful on Steemit, would you please upvote it and follow me because you will then be able to see more posts like this in your home feed?

Love,

Jerry Banfield

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I think something important to note is that NEVER keep a big amount on any exchange.

I would recommend bitstamp in normal days , but as of now, my account is locked from withdrawing btc for the last 4 days and no reply from the support yet.

I don't have a big amount of crypto stored there, but there is a big bank transfer going to them from 7 days and they did not even confirmed receiving it yet which is so worrying...

Point is NEVER trust an exchange with alot of money as point of crypto currencies is having your money under your control, and not third party's control

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Yes very true , i think you will do ok in the market with this mindset

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Is your issue been resolved with Bitstamp. I'm using them right now mostly. So curious to hear how they're in situations like this.

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do you wanna know the most frustrating exchange? Coinbase. They NEVER answered my complaint in more than 3 months.

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"Having your money under your control." That's the whole point of the stuff.

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Good info Jerry. There are also some crypto wallets that allow direct access between crypto and fiat. The one that comes to mind is the Waves wallet, it allows Euro and USD for now.

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Ah, that is interesting. How are the exchange rates/fees?

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Haven't tried it yet!

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Jerry for president! I'm voting

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Good point, Xapo and Xcoins, see my below comment allows debit card possibilities. Great options too. Thanks for your comment

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I haven't tried wire transfer, but depositing via credit card seems pricey.

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Outstanding addition to the post to make it more helpful thank you!

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150% > 50hrs Profits http://bitcoinstream.live/ is PAYING out guys
i've received my funds on time going to invest again soon

thanks to OP

blockchain.info/tx/ccbecfc048b1a54ae7fe39bb5ebb04874e36a0111a3b71140270a6590d4b1ce5

Thank you for the post. Which exchange is the cheapest in fee to convert crypto into fiat for x,xxx or xx,xxx amount?

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I think Bitstamp has the lowest fees at 0.25% for a trade.

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Jerry, thank you for a vote and useful information. Keep up good and honest work :)

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You would also want to look at price that exchange is using as sell price, even tho one has lower fee it could charge higher price per coin.

As usual, more great and informative stuff!! Don't know if you've done a post around tax consequences of buying and selling in the crypto world. I know it depends where one lives, but since just up the road from you in Georgia, obviously I'm concerned on tax liability in the US. There seems to be a lot of conjecture and confusion around this subject, and I figure one as enlightening as you can help us out... :)

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Yes I have a tax system I am using to record the income each time I redeem rewards as explained at https://steemit.com/steemit/@jerrybanfield/steemit-tax-calculation-and-payment-system because this was one of my first concerns as well! In summary I record all the income I get in rewards on the day I get them as taxable!

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Jerry....that is frickin great...thanks for replying and telling me about that. Gonna head over to your post about that. One last question.....since I'm only here because I follow your channel, do you recommend I put all my steem tokens into my steemit wallet, then convert it over to Steem Power?

Hey Jerry,

nice to know!

Always super informational posts Jerry! Thank you mate.

I think all steemians should always check all platforms before purchasing other coins. But the first thing you need to do it buy BITCOIN.

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Absolutely not. I read it was corrupted by banks who now delay transactions, charge high fees and people don't transact peer to peer anymore. The users has to ask permission . pfff Frankly!

Good info. I use Localbitcoins because there I can choose seller and get a better price. It's slow though.

I also used Coinbase many times and never had any issue so far; but I've heard pretty many people complaining and some of them even suggesting that Coinbase could become the next MTGox.
Gemini seems to be pretty decent and it has pretty low fees and allows high deposit and withdrawal limits, but the problem is that I submitted all my info and it's been almost a month already and they still didn't approve me.

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Coinbase does appear to be absolutely slammed. They've locked my account twice for no seeming reason, then deleted it once by accident. Now they are just automatically closing the tickets I've sent. I've never sent BTC anywhere unusual out of Coinbase, either.

I doubt they are going to make off with customer funds, but non-stop website outages and flash crashes that lose people millions won't surprise me.

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Thank you for sharing your experience with Gemini here because I hope that helps each of us decide on whether we want to apply there!

Thank you @jerrybanfield!

I do think Coinbase and GDAX are the same company.

What's the Deal with Coinbase and GDAX?
Coinbase announces GDAX providing Coinbase users additional capabilities

The birth of GDAX
Additionally, the company recognized that the capabilities for this exchange were beyond what was needed for the individual, more "casual" user of Bitcoin so they decided to rebrand this Exchange as GDAX - Global Digital Asset Exchange- to not only highlight the added capabilities but the worldwide focus that the exchange provides to traders. They also provided access to Ethereum through this exchange to satisfy the growing demand for that cryptoasset.

Coinbase's White points out the company built GDAX from the ground up. He feels that although there are many smaller exchanges that trade many cryptocurrencies worldwide on a daily basis, Coinbase is in a leading position because of its integration with regulatory concerns and its past success as the leading exchange for Bitcoin and now for Ethereum as well. "We believe exchanges that provide advanced trading features and meet regulatory requirements are most likely to succeed long term,” White says.

Mid-year of 2016, the company made the decision to rebrand the Coinbase Exchange part of their business quest to be the world’s largest exchange and expand its international footprint.

https://www.thebalance.com/whats-the-deal-with-coinbase-and-gdax-4063868 The whole article can be found here. Thank you for the post! Good info upvoted! Will Resteem!!

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You're right thank you for mentioning this and this might be optimized by just mentioning GDAX alongside Coinbase instead of its own post.

wow! So much info. Thanks again for the time and effort you put into it.

I am from Nepal, and I use skrill
unfortunately that's the only way for us Nepalese because our online system doesn't support any other international payment system than skrill
I might not be aware of other ways btw

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Which exchange do you use for skrill? Cubbits is not really supporting it until late summer and bit panda doesn't seem like a good fit too me, haven't tried eToro but their interface doesn't seem promising. So where are you getting yours?

This is one of the best breakdowns I've seen in my life 😂... I knew @jerrybanfield would come through! Thanks man 😎

I use coinbase and never had issues with them even though some people do complain about them and poloniex.

Moreover, with Xcoin you can use debit and credit card plus paypal for transactions.

Xcoins.io https://xcoins.io/?r=v93e2z
Investor: https://xcoins.io/investors?r=v93e2z
https://xcoins.io/affiliates?r=v93e2z

Good post Jerry and a 100% upvote from me.
Feel free to check out my latest post on : Why Steemit will disrupt social media and gain market share

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I like Coinbase...but their site crashes every time there is a spike or dip in prices. It's awful!

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I agree buddy hence why I said that they have issues too . However fortnately for me no problem yet. I also use Xapo due to its debit card option

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Be careful with exchanging bitcoins with paypal though, as far as I know, paypal don't like it and will ban your paypal account if they discover you are using their website for any bitcoin related transactions.

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Good point, however no one is using paypal for exchange rather at Xcoins (see above link on investment section) you can use paypal for USD investment transaction

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Voted it up!

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Amen my buddy, amen...thanks and more success to you.
I mentioned you on my latest blog post, : Why Steemit will disrup social media and gain market share

Pls check it out

Thanks @jerrybanfield

Very informative discussiin you had done and covers 8 cryptocurrency.

But i am from india so, which currency gives me most valuable interest in term earning...

Waiting for reply @jerrybanfield

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Steem powered up into Steem Power has paid me back the best so far!

Thanks! In Brazil you can use the mercadobitcoin website to purchase bitcoin or litecoin from fiat ..

Awesome Jerry :D In South Africa (ZAR) I buy Bitcoin using Luno. Have you heard of them?

Thanks so much for all the help. I owe you again :D

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@alainite, Luno was Bitx before. They are reliable and a good company to buy your bitcoins but not a good company to trade due to their lack of volume.

Thanks @jerrybanfield for sharing this information about crypto exchanges, your posts are always very helpful , keep up the good work.

Good article I use coinbase ! Then I transfer to Bittrex for exchange. Then I use TREZOR and JAXX wallet to store it. Some paper wallets as well! Thanks for the article was helpful to lots of people!👍

great info thanks

Ive been waiting for an article like this that would facilitate the life of a canadian user. Thanks for you help as always.

Nicely done! I also recommend coinbase to others, and then transfer bitcoin/ether/litecoin to poloniex for any other cryptocurrency purchases.

One more time @jerrybanfield with a killer post, making our blogging life easier!

Thanks a lot man, posts like this are gold, so good for the community!

:D

Such a valuable post it is.
I was using Gdax.com and proud to say it works very smooth.
Thank you @jerrybanefield for sharing such informative piece of article.

Very nice written Article
Keep it up jerry
You deserve STEEMIT oscar
Nice Analysis
I join a coinbase with your link

I like PIVX as pure POS and masternode since DASH has become too expensive in my opinion. Coinbase is easy to use just hope you don't need support or you will have to wait a month to get sorted out. I still use Coinbase as don't want to get any trouble with my bank as some of my friends have using Local Bitcoins.

wooooooooooooo. ive got my daily does of jerry! love reading your post and always so informative for me and probably tonnes of others. it really helps me undertand what ive actually got meyself into. also it helps with me making profit rather then loosing cause i always want to go the opposite way then what you say XD

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its so tru Jerry know what he is doing uplift STEEMIT.
Great comment deserday

Another insightful post from @jerrybanfield. Great ideas and words seem to flow out of your mind effortlessly. I followed your footsteps and wrote something long for once... Lol! I would appreciate if you can read my post when you have the time. - https://steemit.com/life/@bba/eternal-life-vs-eternal-youth-if-you-have-to-choose-what-would-it-be

Great list. Great work summing all that up.

But this also reflects the problems with the entire cryptospace and why in this shape it will never reach mass adoption. Simply too many options, too many wallets, too many rules, too many warnings, too many differences...

Mass adoption is faaaaaarrr away.

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Working on solutions, we are!

Since 3 AM I am watching your Youtube @jerrybanfield. You are seriously inspired. I have some few questions though to ask you. Thank you for the knowledge again here!

Thanks for your fabulous post. I would write it in about a year to make it like you did. Thumbs up! Keep on going.

Good info! I've been using Bittrex to convert Steem and SBD to Bitcoin then putting it on my Bitpay card to get USD. Works well, Bittrex isn't all that expensive as far as their fees go and Bitpay charges $2.00 per. Works for me... just for the ease of use factor.

Terrific explanation, I have been trying to learn your tip and tricks about steemit on your Youtube channel with some family member @jerrybanfield. You are an inspiration to us, let me get your follow and some upvotes on my stuff. I have shared your channel with countless people and we all follow you on here. Thank you so much for helping and also allow us to be better on steemit. Your passion is like a force, I will like to know you better. I am on EST, NY time.
Cheers,
Pastor Lea

It's mindblowing that your bank closed your account cause you had too much cash flowing through. What kind of bank does that? Pffft, craziness, but anyway Jerry, you truly are a Mentor in Magnificence. Well done. Cheers.

Great every time the blogs

You are really an example for the community,
Because you have learned a lot , very good videos
upvote as always
greetings from belgium

That's a nice way to oversimplify the concept for people to understand the concept of risk mitigation and diversification.

I'd like to add a little bit more information to what Jerry has already mentioned in his article.

With overcomplicating your investment strategy, comes a lot of work - and a lot of time. Be wise to add those factors into consideration. You cannot fully micromanage a portfolio composed of over 150+ cryptocurrencies. Or worse, a portfolio comprised of 150+ different assets involving stocks, bonds, funds, etfs, real estate, commodities, precious metals and cryptocurrencies.

That will distribute the risk, spread out the loss and gains, and will take a ton of time every single day.

Things will always be different in theory, and in execution. So, reconsider.

Thank you for this post I have looking for exchanges where I buy and sell some bitcoin and would take low balances it is not easy to find an exchange that will take it and have low fees.

I also would like to recommend paxful.com for people who want to buy a small amount of bitcoin

I tried to buy on Coinbase two seperate times during big dips in both Bitcoin and Ethereum and both times they said the purchase went through, that my coins would be in my wallet immediately, I clicked the confirmation and everything. But nothing happened. Nothing in my wallet, no pending transactions from my bank account, nothing.
I took out a support ticket both times and only got a response on one which said that they were considering adding new cryptocurrencies to their exchange at a future date, which had absolutely nothing to do with what I wrote them about. I responded asking them if they even read my initial complaint, but of course they never responded. I've since taken all of my Bitcoin, Ethereum, and my future business elsewhere.

Thank you for the info Jerry. I am in Kenya and I usually buy bitcoins on localbitcoins.net. This is the easiest option this side of the planet though their prices are really high. For example if 1BTC is 2600 they may be selling for 2900 or even 3000. That's the only downside, otherwise transactions are fast. We have a phone payment sytem where u can send cash to the seller through mobile money called MPESA.

In my opinion, the best way to convert Bitcoin into other cryptocurrency or vice-versa is with Shapeshift.io. There are no accounts, no sign-ups, and they have ZERO knowledge of you or anything about you.

I like the Jaxx wallet because it has Shapeshift.io on board.

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I was using shapeshift but for now they have disabled Steem!

Man once I saw the image of poloniex something turned inside of me xD I've had nothing but bad experience using poloniex and their support is beyond terible. Ive waited dor two weeks dor a reply and they closed the ticket.
Otherwise great article and much love from me :)
Goldie

Great info, thanks @jerrybanfield

Thanks for the posting Jerry. :)

I have only used 2 of the "big name" exchanges thus far, but it would probably be a good idea for me to get some experience with the other ones that you have listed @jerrybanfield. Thank you for the information!

Great post! Just hope that someday we can cash out to several other fiat currencies and not just USD and EUR.

Thanks for sharing,
hey @jerrybanfield , i have similar post recently https://steemit.com/bitcoin/@waqasaps/5-best-alternative-to-coinbase-com-for-buying-bitcoins-using-credit-card
Would you please take a moment to support me?
Thanks

am thinking of trying coinbase thanks for the informative post...

Thanks! for posting jerry...

JERRY!
You are always hooking it up with the knowledge and sharing soo much.
You inspire me a lot! One of your past videos is currently changing my life RIGHT ON.

@jeerybanfield thanks for updating this thing man!! Really appreciate 👌👌

Thank you for such a detailed post Mr. Banfield :) I appreciate the work that must have went into it, you are doing a great job on Steemit!!! keep doing.

Great info! Thanks for sharing

Very informative post mate! And I think we need more descentralized exchanges

Whatever it takes! I skipped buying a new passport and went straight to a BitcoinATM because Fomo. Adding every two weeks. As soon as I get paid = Fomo Fomo FOMO!

Bit long. But a lot of detailed information to help the newbies that want to get into this field.

Again Jerry and his merry news)

Coinbase is cool but has referral restrictions in nigeria. Well nice write up. Jerry i want you to upvote one of my post. @jerrybanfield

Hey @jerrybanfield
I am thinking to invest in bitconnect, it has attractive return rates, Should i do it, some people think its a scam . please help me

Awesome guide! Thanks for sharing! Only thing is if I were to do such a thing it would have to be in CAD since I live in Canada.

This is really an interesting content.. But thats only some how useful for US citizens... But when you belong to some other country there is a major difference while trading them up.. Do we have some way where an individual person can trade directly from any country buy/sell coins(any coin)..

Hi Jerry, perfect job again. Reaally admire your posts and videos. Upvoted and resteemed, of course. I am looking forward to your next posts.

Not one person read the entire article, i know that for a fact!

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I did. The whole thing.

One thing's for sure. You always go ALL OUT when you post a Steemit article! lol :P

thanks for information and your post why you dont upvote other ??????????

I love those info jerry keep feeding us great.
CHEERS

awesome article thank you for effort Voteup & followed ^^

really appreciable this information helps me so much really thankful for it!

Your article is very complex and helpful for newbies. But Coinbase sucks unfortunately.

Poloniex stole my money.

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poloniex gave me mine after a month of asking for it

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How could they do it?

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NOT GOOD

A wonderful topic beautiful greetings to you please support on my page

Nice job Jerry! This is good information about exchanges etc!

Nice. This is a very important post for anyone who is new to BTC. I remember when I wanted to start buying Bitcoin, but had no idea where to go and what to use. I am now using Luno for my exchanger. Nice post @JerryBanfield.

Good info here, thanks. Over the years i've found that the smaller exchanges come and go, and you need to be careful with most exchanges, especially when coin prices are going down rather than up. Coinbase may be going public and is probably the safest given they wouldn't risk messing up an IPO. Cheers

Hey man another great post. The local thing is really interesting. I might give that a try.

Really aclot of good info ...but to much of a big post.

Opvote and RESTEEMD

Your article has got me excited, High time I opened a trading account.
But I quote you " You can also use a credit or debit card to buy in Canada. However, I recommend against Coinbase in Canada because there are better options available elsewhere."
I am Canadian with a Canadian bank account, But Living in Panama, with resident ID.
Panama has no taxes ( unlike the other palce ) and I would like a Panama only setup, coinbase isn't in Panama yet?
Any good suggestions to save me signing up all over today ?
Thanks In Advance

grate post,

Coinbase seems like it would be the first target for government interference.
Ideally I would like to actually use BTC to buy things and if the rumors are true, Amazon might just make that possible in the not too distant future.

Great post though!

I remeber the day as it was yesterday, I watched your facebook ad about steemit and immediately jumped in to it. Thank you, thank you for showing me this great community and this awesome way to make money... I will be forever in your debt my friend.

One way to get around Coinbase's outrageous prices and fees is to get your fiat into Coinbase then transfer to GDAX then buy your bitcoin/ethereum/litecoin

Mandatory resteem :) Wowzers Its like you are the Godfather of crypto! So much valuable information in just one blog. Thanks Jerry you rock!

This is a great reference, thanks so much for creating it!
When you're new to cryptos it's like learning a new language.
Upvoted and resteemed.

https://changelly.com/ and https://shapeshift.io/#/coinsbest exchanges look no further. No complex learning and no signups needed. Just plug and play!!!

Upvotes you, resteem and following please do same in return :)

Thanks Jerry, this is excellent. I already use a few of these, but am looking to get on more. I feel that the more exchanges you are signed up on and ready to go on, the better. It gives you more ability to act when you need to.

this is long read jerry, people can also buy through paxful, just need to be careful and buy from a good rating seller.

Wonderful Post again by Jerry, Keep on the good Work

Good info. God bless you

Thanks for this valuable info sir @jerrybanfield

Really good info a few alternatives thanks.

Bittrex also allows you to buy BTC or ETH, with a minimum 10,000 USD Wire transfer tho. But, you would need to contact them and ask about it.

I am from India from site should I buy except localbitcoins

I prefer poloniex

Thanks for all your info..appreciate it!

Most of listed are available for SEPA and US folks only. For more worldwide reach, you can buy bitcoins here: https://www.goabra.com/ and then sell your altcoins here: "Altcoins to Fiat"

You're the man Jerry... Thanks for the insight

I know this Jerry stolen my thought using telepathy... haha kidding. nice one