Where can I invest in cryptocurrencies? Is there any legit and safe platform through which I can invest in one or several cryptocurrencies? Such are questions that you are likely to ask yourself as a beginner in this field of investments. I will, in today’s article, point you in the right direction, so that you can get started on the right foot, and possibly make the income you expect to make. Read on to find out more.
Best Cryptocurrency Exchanges and Investing Platforms
To invest in cryptocurrencies, you need to sign up for an account on a reliable trading platform, or a cryptocurrency exchange. Below are some of the top-recommended exchanges that you can trust:
This is the most popular cryptocurrency exchanges in the entire world. On Coinbase, investors can invest directly with USD, and purchase a wide variety of crypto tokens. The common cryptos you can invest in on this platform include Bitcoin, Ethereum, Litecoin, Ethereum Classic, Ethereum Classic, Shiba Inu, Decentraland, DAO, and many other small cap cryptocurrencies. Coinbase also allows its users to earn rewards for completing various activities on the app. Besides that, you can earn $10 every time you refer your friends to Coinbase using your referral link.
- It has an easy-to-use interface that anyone can figure out how to use
- Has most popular tokens and coins
- Secure and trustworthy
- Does not add new cryptos fast enough for investors to lock in the prices at a good time.
- High fees
- No control for the private keys in wallet
This is yet another popular platform in which you can invest in cryptos. The company that owns this platform happens to be one of the first publicly traded cryptocurrency exchanges. Customers who turn to Voyager mostly do so with the knowledge that it offers them a commission-free trading space.
With Voyager, you can get most of the common cryptocurrencies, and access the best customer support when in need. Not forgetting that upon opening your Voyager account and trading your first $100 in crypto, you are awarded $25. Customers on this platform also earn competitive interest rates on the assets that they hold through it.
- Easy to use
- Customers enjoy a commission-free trading structure
- Solid interest rates
- Long withdrawal time
- Not available for New York Users (yet)
eToro has been quite popular in the UK and other European nations for many years, but has also gained popularity in the US. The platform offers a good-enough variety of digital assets that you can purchase or sell. If you are not familiar with how to trade, you can get started by using practice trading account to understand how everything works. Those who deposit and trade $100 on this platform get an $10 bonus.
- Copy-trading is supported
- There are worldwide options for trading crypto tokens
- Low minimums to get started
- Limited trading options in the US
- Not available in some states in the USA
- Does not support as many tokens as some other platforms.
This is one of the fast-growing crypto exchanges in the entire world. The Hong Kong-based platform also offers support to clients in customers in the U.S.
With over 90 tokens to global customers, and over 50 tokens to U.S. customers, Crypto.com is to a great extent one of the most reliable platforms you can turn to today if you are getting started with investing in cryptocurrencies.
- A cryptocurrency debit card linked to your crypto wallet
- Many coins and tokens supported
- Weekly interest paid on cryptocurrency savings
- The fees structure can be complicated for some people
- Does not offer desktop platform- it is app-based
- Limited customer support
This platform presents its customers with a simple solution to enable them to trade in several crypto assets, which is to simply open a single account that lets them trade in several assets without them having to make a trip back to their money wallet.
If you know about cryptos, you know that most common cryptos trade in certain pairs, which means you can find yourself going back to your Bitcoin or Ethereum wallet. With Uphold, however, you can opt to trade several assets directly.
- Transparent pricing structure
- Has desktop and mobile apps
- It has a lot of cryptocurrency tokens and stocks
- Not very easy to use as most of its competitors
- Poor customer service
Binance is yet another great platform for accessing and investing in the popular and small cap cryptocurrencies. It can, however, get quiet complex to use, though the platform is in itself quite robust. The mobile app offered is quite decent, but can also be challenging to use.
U.S. customers use the Binance.us version, which, unfortunately has a limited collection of tokens that one can invest in, in comparison to the international version of this platform.
- Low trading fees
- Transactions are fast
- International version supports many tokens and coins
- Limited customer support
- Not available in some U.S. states
BitcoinIRA is a bit different from the other platforms that we have discussed already. While the other platforms are either exchanges or wallets, BitcoinIRA offers a better approach to investing in cryptocurrencies. With cryptos and exchanges, investors are required to pay taxes on their capital gains. With BitcoinIRA, taxes can be deferred.
- Allows you to invest in cryptos in an IRA
- High security
- Interest earned on crypto invested in IRA
- High fees
- High investment minimums
- Does not support many tokens and coins as the exchanges discussed above.
If you are getting started with investing in cryptos, then you might want to utilize a platform that lets you invest without having your hands on the wheel every time. I would recommend that you also consider checking what cryptocurrency IRAs have to offer ( e.g. investor education, low tax rates, and lower fees).
That will be all for this post in which we have covered the question “where can I invest in cryptocurrencies?” I hope you got the answer to this question and that you now know what to do as you get started. Let me know if you need help settling on the platform that will serve you best.
I wish you well,
Eric, Investor and Team Member at Gold Retired!