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How to Buy Cryptocurrency

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There are two ways to buy cryptocurrencies, the first is to use fiat currency
(USD, EUR, GBP etc.) to purchase cryptocurrency via an exchange. These
exchanges function the same way as regular foreign currency exchanges do. The
prices fluctuate on a daily basis, and like regular currency exchange markets –
they are open 24/7. These exchanges make their money from charging a small
fee for each transaction.
Some charge both buyers and sellers, some only charge a fee for buying. For
security reasons, most of these exchanges will require you to verify your ID
before allowing you to purchase cryptocurrency.
It is also important to note the type of payments each exchange supports. Some
allow for debit/credit card payments whereas other only accept PayPal or bank
wire transfers. Below are the three biggest and reputable currency exchanges for
purchasing BitCoin, Ethereum and other altcoins with fiat currency like US
dollars, Euros or British Pounds.
Currently largest currency exchange in the world, Coinbase allows users to buy,
sell and store cryptocurrency. Coinbase is undoubtedly the most beginner
friendly exchange for anyone looking to get involved in the cryptocurrency
market. Using the platform, once your ID is verified you can buy cryptocurrency
within minutes using a debit or credit card. They currently allow trading of
BitCoin, Ethereum and LiteCoin using fiat currency as a base. Known for their
stellar security procedures and insurance policies regarding stored currency. The
exchange also has a fully functioning iPhone and Android app for buying and
selling on the go, very useful if you are looking to trade.
If you sign up for Coinbase using this link, you will receive $10 worth of free
Bitcoin after your first purchase of more than $100 worth of
Based in Canada, and currently the largest exchange in terms of volume of buys
in Euros, Kraken has the advantage of more coin support (they also allow the
purchase of Monero, Ethereum Classic and Dogecoin) than Coinbase. It allows
margin trading, which while beyond the scope of a beginner, will be of interest
to more experienced traders
For other cryptocurrencies such as Dash and Golem, you will need access to an
exchange that facilitates cryptocurrency to cryptocurrency trading. The best one
of these is Poloniex.
With more than 100 different cryptocurrencies available and data analysis for
advanced traders, Poloniex is the most comprehensive exchange on the market.
Low trading fees are another plus, this is a great place to trade your Bitcoin or
Ethereum into other cryptocurrencies. The big drawback of Poloniex is that it
does not allow fiat currency deposits, so you will have to make your initial
Bitcoin or Ethereum purchases on Coinbase or Kraken.

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