Crypto-Exchanges For Beginners - A Short Review
Cryptocurrency is becoming more prominent in todays culture as more people become aware of the benefits that come with them, such as anonymity and the fact that the currency is decentralized.
There are even rumours that online e-commerce giant Amazon will soon be accepting bitcoin payments using the blockchain.
http://www.investopedia.com/news/amazon-planning-accept-bitcoin-payments/
As of 11 July 2017 there were over 900 cryptocurrencies available - https://en.wikipedia.org/wiki/List_of_cryptocurrencies
However there are many who are keen to get started in the crypto-market and buy some crypto-coins, but they are unsure on where to begin.
In this short post, I will review a few crypto-exchange platforms (which I have used myself in the past) that I have found to be secure and trusted throughout the bitcoin community.
COINBASE - https://www.coinbase.com/
Used by millions of customers worldwide and backed by trusted investors, including IVP - a Silicon Valley firm that accounts for some of the tech and digital startups that we use today(Netflix,Dropbox,Github), it is an simple platform recommended for a beginner wanting to buy/sell or trade crypto-coins.
It allows you to purchase coins by bank transfers or credit/debit card, although you will have to verify your identity first.
It supports 3 cryptocurrencies - Bitcoin, Ethereum, Litecoin and has a built in wallet to store your coins in. They also have a mobile app for iphone and android so you can use their services on the go.
The fees are somewhat reasonable but other exchange platforms do offer less, but as a beginner I would start with Coinbase until you become more familiar with cryptocurrencies.
BITSTAMP - https://www.bitstamp.net/
Bitstamp was one of the first bitcoin exchange platforms that has maintained its trust in the bitcoin community. It was founded in 2011 and features an easy to use GUI with a high level of security to keep your funds safe, including two-Factor Authentication and Multi-Signature technology for its wallet, plus any funds that are kept on their cold storage are fully insured by the company.
They have a loyal customer base and have a tradeview option to keep track on the market in real-time.
Bitstamp support: Bitcoin, Ethereum, litecoin and Ripple XRP and trade fees are less than Coinbase.
BITTREX - https://bittrex.com/
Bittrex is another crypto-exchange that allows purchasing of crypto-coins and tokens.
Based and fully regulated in the USA with over 190+ cryptocurrencies supported they have become the go-to place for traders and crypto-enthusiasts.
Security comes first on their exchange and to protects users funds all withdrawals and API usage require two-factor authentication. The site is protected by SSL, so you can rest easy about the safety of your funds and personal information.
Fees are reasonable - in my opinion and as a regular user, I have had no issues so far with them.
There are many other crypto-exchange platforms(Poloniex, G-Dax, Kraken) but for a beginner I would recommend using one of the three listed.
Also a quick note - Some crypto-exchanges keep hold of your private key meaning you don't really have full control of your funds, so it's always wise not to keep a lot of money in your wallets.
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