Even today, many people have a simple question: “Where to buy crypto?”. By crypto, many people mean Bitcoin. So where to buy Bitcoin today?
Today, we’ve prepared a short review of places where you can buy Bitcoin. We will talk about Coinbase, Binance, Robinhood, and eToro.
Coinbase
Coinbase is the dominant crypto exchange in the United States, with 100m+ users. Since its creation in 2012, it has emerged as one of the most enduring platforms in the crypto exchange landscape.
Coinbase offers a user-friendly mobile app. It enables swift Bitcoin purchases by seamlessly linking your bank account. This convenience allows for immediate trading opportunities. The fees on Coinbase can be relatively high, reaching up to 0.60% plus a spread fee. But the platform is widely recognized as one of the safest options for purchasing Bitcoin.
Binance
Binance, recognized as the largest global crypto exchange, operates its U.S.-regulated counterpart, Binance.US. The platform offers competitive trading fees and the unique feature of Bitcoin purchases without fees. Binance.US presents a cheap option for acquiring Bitcoin.
Furthermore, Binance.US facilitates trading over 150 additional cryptocurrencies. They offer Ethereum, Solana, and Dogecoin. The platform boasts robust security measures and incorporates an educational platform. This makes it an excellent choice for novice crypto traders seeking access to a low-fee crypto exchange.
Like Coinbase, Binance.US allows you to withdraw your cryptocurrency to your hardware wallet. This ensures enhanced security and control over your digital assets.
Robinhood
Robinhood is a commission-free stock trading platform renowned for its smooth mobile app. In addition to stocks, it provides access to Bitcoin and several other cryptos.
Robinhood gained popularity among traders due to its fee-free trading model. This enables beginners to quickly set up accounts and trade without the complexities. Robinhood emerged as a convenient one-stop solution for novice investors.
The Financial Industry Regulatory Authority regulates the platform. The platform also offers FDIC insurance for cash balances. But it’s important to note that Robinhood Crypto does not provide insurance for cryptos.
Robinhood remains a reliable option for beginners looking to purchase cryptocurrencies. It recently became one of the first U.S. brokers to introduce a digital crypto wallet.
eToro
eToro is a well-known trading application that provides access to many investment options. Like stocks, options, ETFs, and cryptocurrencies. Notably, eToro offers a unique CopyTrader feature. It allows users to automatically replicate famous investors’ trades on the platform.
Regarding cryptocurrencies, eToro enables users to invest in Bitcoin and a few other digital assets. The platform applies a flat 1% trading fee for buying and selling cryptocurrencies. The mobile app offers a user-friendly experience. Also, eToro caters to experienced traders by providing a desktop platform with charting tools and advanced order types.
Additionally, eToro permits the transfer of Bitcoin from its platform. However, this process can be cumbersome, requiring an interim eToro digital wallet.
Conclusion
In conclusion, there are several notable platforms to consider when buying Bitcoin in 2023. Coinbase is a trusted and recognized exchange with a user-friendly mobile app. Binance.US offers competitive fees and the unique advantage of fee-free Bitcoin purchases. Robinhood remains a popular choice for commission-free trading and has its digital crypto wallet. eToro provides a comprehensive trading app with a CopyTrader feature.