A Comprehensive guide to know where and how to buy Cryptocurrencies. Compare and select the best Crypto exchange to buy securely:
Cryptocurrency exchanges are the main places for buying cryptocurrencies online and offline. Most of these cryptocurrency exchanges support spots, futures, over-the-counter, and peer-to-peer crypto trading. There are also websites and apps serving as specialized places where users can meet and trade cryptocurrencies with peers or with brokers.
All these marketplaces and exchanges can offer just crypto as a standalone product for trading or in combination with stocks, bonds, futures, metals, and other assets.
This tutorial discusses cryptocurrency exchanges where one can buy cryptocurrencies.
What You Will Learn:
Where to Buy Cryptocurrency
- There are over 500 cryptocurrency exchanges and apps where to buy cryptocurrencies using fiat (national currencies like USD, Euro, and others) and using credit cards, bank transfers, debit cards, ACH, PayPal, other cryptos, and other methods.
- Most exchanges support instant buying of crypto with credit cards, debit cards, PayPal, other crypto, and other electronic methods. Instant bank buying is supported on a few exchanges. Other transactions could take up to complete. Most exchanges support swapping crypto for another at low or no fees and crypto deposits are free on quite a few exchanges.
- Many cryptocurrencies now support peer-to-peer and OTC buying methods where you can buy with a local national currency and payment methods easily accessible to both the buyer and seller. The most expensive methods to buy crypto are credit and debit cards, with banks charging up to 5%.
- Quite a few exchanges now support withdrawing Bitcoin to US bank accounts. Others support instantly converting to fiat from a crypto wallet and spending as fiat with a crypto Visa/Mastercard debit card, at global merchant stores or ATMs. Others offer purchase rewards cards.
Top 7 crypto exchanges by trading volume:
- Choosing an exchange where to buy cryptocurrencies depends on several factors. First, whether the crypto is listed on that exchange, two is the deposit or fiat buying/funding method you want to use vis-à-vis the supported methods, three is the fees, and four how long it takes to complete the transaction (largely determined by the funding method).
- What you want to do with the crypto deposited or bought on the exchange matters when choosing an exchange to work with. Multiple exchanges now support additional products for investing in bought crypto. It could be staking, speculative trading, mining, saving, or paying for goods and services.
- Pro traders, high-volume traders, and institutional buyers and sellers can leverage OTC buying and selling. There are also market-making, liquidity, crypto-as-a-service, and DeFi programs available for these users and which can lessen pain points when trading high volumes.
Frequently Asked Questions
Q #1) Where is the best place to buy cryptocurrency?
Answer: This tutorial discusses Bitstamp, eToro, Naga, Crypto.com, Binance, Kraken, and FTX as the best places to buy cryptocurrency. These are some of the best brokers for cryptocurrency trading.
We also discussed how to buy cryptocurrency stock on these exchanges. For those looking for how to buy cryptocurrency on Robinhood, it is also one of the favorites for crypto traders.
Q #2) How can I buy crypto in the US?
Answer: How to buy and sell cryptocurrency will depend on the actual app and marketplace, but usually requires a sign-up with the exchange in question, depositing USD through a credit/debit card or bank on the exchange, and then placing a buy order.
Visit Bitstamp, eToro, Naga, Crypto.com, Binance, Kraken, and FTX to sign up and buy crypto if looking for the best online brokers for cryptocurrency.
Q #3) What crypto exchanges can US citizens use?
Answer: Bitstamp, eToro, Naga, Crypto.com, Binance, Kraken, and FTX are all available for use for those searching for how to buy and sell cryptocurrency in the U.S. Each of these crypto exchanges is regulated, supports multiple payment methods, and most allow depositing for as low as $10. You can also actively trade crypto using speculative methods to profit from crypto on these exchanges.
List of the Best Places Where to Buy Cryptocurrencies
Here are some worth a visit cryptocurrency exchanges to buy crypto:
Comparison Table Top Exchanges to Buy Cryptocurrencies
|Crypto exchange||Common purchase/payment/deposit methods||Minimum deposit||Fees (excluding bank or card charges)||Our rating|
|eToro||PayPal, bank account, Sofort, Skrill, wire transfer, Web Money, other cryptos.||$10||Buying and selling cost 1% added to spreads||5/5|
|NAGA||Credit/debit cards, wire transfer, PayPal, crypto, Ideal, Sofort, QR Payments, and others.||$250||0.4% to 0.05% depending on NAGA tokens held and 30-day trading volume||4.8/5|
|Crypto.com||Credit cards, debit cards, bank transfers, PayPal, ACH, and many other methods.||$20||0.4% to 0.0% depending on CRO staked and 30-day trading volume.||4.7/5|
|Binance||Credit card, bank account, debit card, ACH, cash, local country methods, and other 150+ fiat payment methods||$10||0.1% to 0.02% maker and 0.04% taker depending on 30-day trading volume.||4.6/5|
Uphold is a popular place for buying crypto without fees. It charges spreads of between 0.8% to 1.2% for Bitcoin and Ethereum and up to 1.95% for other cryptocurrencies.
The exchange allows buying and selling of 210+ cryptocurrencies through bank accounts, wire transfers, debit and credit cards, Google Pay, Apple Pay, and other cryptocurrencies. With Uphold, you can trade forex, stocks, and precious metals, in addition to crypto, and cross-trade all these assets.
Uphold is a great option for those looking for a way to spend cryptos with a branded cashback debit card without needing to manually convert the crypto to fiat. With the Uphold Card, you can withdraw crypto as cash at an ATM or pay for goods and services at a supported merchant store.
How to buy crypto on Uphold:
Step 1: Sign up for an account on the web or mobile app. The company has an iOS and Android app. Account verification is required.
Step 2: Visit the dashboard. From the Transact tab and on the From drop-down menu, choose a bank, credit card, debit card, or other payment method. Proceed to enter the details of the payment method and add the card if not added. Enter the amount to spend. On the To drop-down menu, choose the crypto you want to buy.
- Multi-asset trading. Including gold, silver, and platinum.
- Encryption and other security protocols.
- Staking rewards. Store crypto in your wallet and earn staking rewards.
- Receive crypto payments from other sources and withdraw or send them to other networks.
- Insured deposits
- Cross-exchange crypto with other assets with minimal hassle.
- Low deposit minimum of just $10.
- Rewards debit card.
- No trading, withdrawal, or crypto deposit fees – charges low spreads.
- Custodial platform.
- Higher spreads for low liquidity coins and tokens.
Verdict: Uphold is an excellent crypto exchange for those who want to hold multi-asset portfolios on the same wallet. It is also one of the best exchanges for those looking for a platform on which they can cross-trade multiple assets easily.
Fees: 0.8% to 1.2% for Bitcoin and Ethereum and up to 1.95% for other cryptocurrencies. Between 2.45% to 3.99% may be charged for fiat payment methods (debit and credit card, Google Pay, Apple Pay).
eToro is well-known for its copy trading platform, but it also lets users invest and trade stocks, bonds, contracts for differences, and over 40 other financial instruments.
eToro lets customers buy 20+ cryptocurrencies with fiats like USD and Euro using PayPal, bank account, Sofort, Skrill, wire transfer, Web Money, other cryptos, and credit/debit cards. You can buy the cryptocurrency and then hold it on the platform for future selling.
The other option is to trade it actively on-the-spot market using speculation techniques. eToro provides detailed charting and market analytics tools for traders. eToro also lets you trade cryptocurrency CFDs.
How to buy crypto on eToro:
Sign up for eToro:
Step #1: Sign up and log in to the exchange. This can be done on the web app or via the mobile iOS and Android app.
Step #2: Deposit money or crypto using any of the supported deposit methods. Different methods take different periods to have the balance reflected.
Step #3: Click/tap Markets or Trade tap/button while logged in. Select crypto to buy/sell/trade from the list of available products. Enter the amount to purchase, confirm the trade, and proceed to buy and pay with the deposited balance.
Buy BTC on eToro:
Step #4: To copy trades, go to CopyTrader and sort traders by amount invested, performance, and other criteria, enter the amount to copy trade with, and proceed to place the trade.
- CopyTrader lets you trade digital assets by copying trades of professional users (professional users use professional strategies based on market analyses to execute their trades for profitability).
- CopyTrader allows any experienced trader to monetize their trading experience by earning from sharing trading ideas/strategies through the Popular Investor Program.
- Demo account.
- Up to 2x leverage for all cryptos.
- eToro Visa card allows for quick conversion of crypto to fiat and easy and quick spending at merchant stores and ATMs.
- Detailed CopyTrader. Ability to emulate trades from professional traders based on their performance.
- Demo account is most suitable for beginner traders.
- Ability to trade crypto contracts for difference (CFDs).
- Diverse deposit or funding methods.
- Easy and quick crypto for fiat conversion through eToro Money card.
- Withdraw crypto to the bank account supported.
- Very low leverage for traders.
- Very few cryptocurrencies are supported. Certainly not for those looking to learn how to buy Tron cryptocurrency, as it is not supported.
- High trading fees compared to many other exchanges.
Verdict: eToro is probably the largest social trading platform in the world with thousands of traders offering payable or free copy trades that can be copied by beginner users at a small fee. It also fits the budget for traders looking for platforms on which they can diversify in trading traditional assets like stocks, indices, ETFs, etc.
Fees: Buying and selling cost 1% added to spreads. CFD varies per crypto and is below $10 for BTC. Other fees include overnight fees, leverage trading fees, withdrawals, and deposit fees.
NAGA lets users trade cryptocurrencies, stocks, forex, indices, and others, comprising over 1,000 financial markets in total. The platform lets you trade a total of 33 cryptocurrencies, including the popular options Bitcoin, Ethereum, and others. You can also trade cryptocurrency contracts for difference or CFDs.
NAGA allows you to fund the account using over 20 payment methods, including credit/debit cards, wire transfers, PayPal, crypto, Ideal, Sofort, QR Payments, and others. That means you can buy crypto with USD, Euro, and other currencies using these methods. The drawback of this platform is perhaps the $250 minimum deposit requirement.
Through NGAX, a user can buy crypto through third-party platforms like MoonPay, etc. NAGAX also supports more detailed active trading of crypto through speculation and extra order types.
How to buy crypto on NAGA:
Sign up for NAGA:
Step #1: Open an account on the web.
Step #2: Deposit money. Some methods are instant, while others are not.
Step #3: Select the Markets tab, find the crypto you want to buy from the list, select it, click/tap Buy, enter the amount, and proceed to submit the trade.
You can also visit NAGA spot Exchange by clicking on Exchange from the top left hand on the website, then the crypto from the drop-down menu below the tab, and then from your top right hand side on the website select the fiat (USD or Euro) or crypto to trade against the first one, then click/tap Buy or Sell at the limit or market order.
Naga exchange but from the spot market:
- Social trading – copy (either manually or auto) trades from other traders at competitive rates. Find traders on the leaderboard.
- VIP accounts – 6 levels based on deposit minimums (from $250 to $100,000). All VIP accounts earn per copy trade.
- Education tools – learn how to copy trade, gain access to trading tutorials, etc.
- NFT marketplaces for those who want to list and trade NFTs.
- Other features include hosting crypto wallets, affiliate programs, stake and earn, and APIs for connecting other techs, or more advanced trading tools, among others.
- NAGA platform tokens that can reduce crypto trading fees.
- Leveraged trading.
- Zero deposit fees.
- Copy trading here is good for beginner traders.
- Over 1,000 financial markets on which to trade including stocks, indices, ETFs, and others. Best for diversified traders.
- Diverse deposit methods, including PayPal.
- Very high fiat deposit minimums of $250.
Verdict: Apart from its higher deposit minimums compared to other crypto buying platforms, the exchange is best suited for traders who want to diversify in the world of traditional finance while trading crypto. It supports stocks and forex trading, among other assets.
Fees: Maker and taker fees vary based on NGC balance – Basic Base account level charges 0.4% maker and the taker for 0-1000 NGC held, Bronze 0.35% for 1001 – 1999 NGC, Silver 0.3% for 2,000 – 3,999 NGC, Gold 0.25% for 4,000-7,499 NGC, Diamond 0.15% fee for 7,500-9,999 NGC, and Crystal 0.05% fee for 10,000+.
Crypto deposit fees vary from one crypto to another. Regular credit card and bank fees apply – up to 5%.
Crypto.com features an exchange on which customers can trade crypto even with margins of up to 10x. It also supports crypto derivatives in an active market with leverage of up to 50x. Crypto.com lets customers buy and sell 250+ cryptocurrencies using credit cards, debit cards, bank transfers, PayPal, ACH, and many other methods.
For active traders using price speculation methods, the exchange provides detailed market analysis and charting tools to help with decision-making when trading crypto. This is in addition to leveraging trading and advanced order types.
Crypto.com allows users to spend crypto quite easily with the Crypto.com Visa card. Customers get cash rewards back for spending crypto with the card at different merchant stores that support Visa. The cards can be given to users who stake CRO tokens. Staking lets people earn up to 14.5% APY interest on the staked tokens.
How to buy crypto on crypto.com:
Step #1: Sign up and log in either on the website or on mobile (Android/iOS app).
Step #2: You first need to set up a fiat deposit method. Tap/click on the Accounts tab, then choose Fiat Wallet if you want to deposit a national currency. Tap/click Transfer, then Deposit, then the currency, and choose the deposit method.
Fill in the details to link the method. Read through the terms and proceed to submit the transaction. Some methods will be added instantly, while others, like a credit card, will take up to 7 days to verify.
Step #3: Click/tap the Trade button or go to the wallet, then tap/click on the Buy option, and choose the crypto to buy. Enter the amount and proceed to add or choose an already-added payment method. If added, continue with this step and add it, then repeat it after the method is added. Submit the trade.
- Instant crypto loans against stored crypto.
- Pay and get paid for goods and services in crypto with Crypto.com Pay.
- Desktop and browser-based DeFi wallet. It allows the staking of DeFi tokens, browsing DeFi dApps; depositing, viewing, and sharing NFTs; swapping 300+ tokens across multiple chains, and easily storing and managing 700+ tokens and cryptos across 15 blockchains. It also supports sending and receiving crypto to and from peers across all blockchain.
- Crypto university and learning resources.
- Crypto.org public blockchain.
- High leverage of up to 10x for spot and up to 50x for derivatives trading.
- Huge crypto support for trading.
- Huge CRO staking interest of up to 14.5% APY depending on the crypto Visa card tier (the tier depends on the amount of CRO staked).
- Platform blockchain and tokens for those who want to build dApps and reduce transaction costs by holding CRO tokens.
- Cross-blockchain DeFi wallet.
- High fees for those who do not hold CRO tokens.
- Not as suitable for beginner active traders.
- High bank withdrawal cost of $25 and a minimum bank deposit of $500.
Verdict: Crypto.com is most famous for its crypto Visa card that not only enables users to instantly convert crypto to fiat, spend it easily globally at merchant stores and ATMs, and also gives pro users huge staking returns on CRO platform tokens.
It also supports DeFi apps and token trading and staking with its cross-blockchain DeFi Wallet and has a platform blockchain for those wanting to build third-party dApps on blockchain.
Fees: Volume-based fees from 0.4% maker and taker fee for the 30-day trading volume of $0-$25,000 in Level 1 when staking 0 CRO up to 0.04% maker and 0.1% taker for Level 9 ($2 million and above trading volume) when staking 0 CRO. Staking CRO gives a 40% discount on maker and taker fees.
For all those staking CROs, they pay 0.36% maker and taker fees for a 30-day trading volume of between $0-$25,000 for Level 1 for staking 5,000 CROs. Up to 0.036% maker and 0.090% taker for a 30-day volume of $2 million and above.
Also Read => Buy Bonfire Crypto
For those staking 50 million CROs, you can pay a $0 fee maker and taker fee regardless of the 30-day trading volume.
Binance has several features beyond allowing users to buy and sell 600+ crypto using USD, Euro, or other 67 national currencies using credit card, bank account, debit card, ACH, cash, and other 150+ fiat payment methods. Binance also supports buying crypto on a peer-to-peer method. You will buy from a peer in a local currency and payment method if and when a trade offer is available.
Peer-to-peer purchasing also supports cash payment as a method when and if available from a peer in a locality. To do so, simply go to Binance P2P. Binance, in addition, has institutional products and services like over-the-counter trading, asset management and custody, liquidity and market depth programs for brokers, and rebates.
Apart from buying and selling crypto for fiat and national currencies, Binance also allows you to trade crypto using price speculation methods. This means you can use advanced order types, for instance, a limit, stop loss, or take profit orders that allow you to profit from trading on the exchange.
To speculate on trading on the exchange, simply check the exchange button while logged in, select the crypto pair you want to actively trade (this requires either deposit or buying the crypto first from the exchange), and select and place the desired order type.
Binance also supports trading crypto with bots and smart orders on the exchange, as well as copy trading where you can emulate trades from professional speculative traders.
How to buy cryptocurrencies on Binance:
Step #1: Register for an account on the web or mobile (iOS and mobile) app. Verify your identity and log in.
Step #2: Tap/click on the trading button and then the Buy button. Choose the crypto you want to buy from the list of supported. You can also choose which crypto to buy directly from the home page and click Buy.
Step #3: Enter the amount to buy. Choose a payment method. Proceed to deposit and buy.
Step #4: To buy with cash or only locally available methods, go to the Binance P2P platform and filter orders by cash as a payment method. The next step is to organize a meetup with the seller and complete the trade.
- Vendor and broker partnerships for those offering cash-crypto exchanges.
- Stake up to 102 cryptocurrencies and earn passive income.
- Launchpad for those launching crypto projects, ICOs, IEOs, STOs, and those who want to market and list them on the exchange. It also allows users to easily buy tokens from newly listed or launched projects.
- Other passive income earning opportunities – savings, liquidity farming, BNB vault, Auto Invest (set auto-recurring investment plans and earn passive income as you auto-invest 60+ cryptos), dual investment, and pool mining.
- Derivatives trading – trade perpetual and ordinary futures contracts even on leverage.
- Trading contests.
- Creating, trading, and listing NFTs.
- Swap liquid farming (get up to 50% of swapping fees in BNB when swapping tokens), fan token listing and trading, and Binance Convert or swapping crypto at no fees.
- BNB platform token to pay trading fees at a discount.
- Binance Chain blockchain for third parties who want to develop dApps (either private or public) on the blockchain.
- Crypto loans, Binance Cards for instant crypto-to-fiat conversion, spending crypto on any Visa outlet, and withdrawing from ATMs worldwide, learn and earn free crypto, and Binance crypto gift cards.
- Feature-rich with the widest range of crypto products and investment products to choose from.
- Low exchange fees, especially for those using BNB.
- Very large coin selection. Excellent choice for those looking for how to buy cryptocurrency on Robinhood because the latter supports just a few cryptos.
- Cross-blockchain platform.
- Peer-to-peer exchange with local currencies and payment methods.
- Copy trading platform suitable for beginner active traders.
- Advanced order types and bots are suitable for advanced crypto traders.
- U.S. service provision problems.
- Non-transparency in a corporate structure.
Verdict: Binance is highly liquid and has a huge product selection for retail and institutional products, whether they be brokers or those needing to integrate crypto into their systems. In fact, it provides the ability for third parties and developers to build private and public dApps on the chain and to launch and market tokens.
Fees: Trading/exchange fees depend on loyalty (measured by your 30-day trading volume or BNB tokens held). From 0.1% maker and taker fee for below $1 million 30-day trading volume or 0 BNB held for VIP tier 1 account; to 0.02% maker and 0.04% taker fees for a 30-day trading volume of $400 million and above and 5,500 BNB held or more.
Paying trading fees using the BNB platform token attracts 25% on all trading levels/tiers.
Kraken is one of the oldest cryptocurrency exchanges that facilitates buying and selling of 100+ cryptocurrencies with national currencies like USD and Euro and with a credit card, debit card, bank transfer, ACH, other cryptos, SEN, Etana, Fedwire, among others.
The exchange allows you to exchange crypto for another or trade activity for profit through price speculation techniques like advanced order types and charting techniques. You can also trade on margins up to 5x on your order. You can also trade crypto futures on the exchange, including on margins.
It provides high trading volume or liquidity, which ensures spreads are as tight as 1 pip and at low maker fees. Besides, Kraken supports trading of indices like NASDAQ Bitcoin, BRTI, among many others. Institutional crypto trading tools and features include over-the-counter trading, account management, and APIs (liquidity APIs and trading platforms APIs).
How to buy crypto on Kraken:
Step #1: Sign up on the exchange either on the mobile or web app. Log in and verify if need be.
Step #2: Connect the funding method – bank and others. Once it has been verified, proceed to step 3.
Step #3: Click/tap Buy Crypto, select the coin to buy, and proceed to pay.
Step #4: Visit the exchange and select the Buy Crypto button and then choose the pair to buy crypto instantly on Kraken. Click/tap trade. For instance, to buy BTC with deposited USD, click or tap the Trade button against the BTC/USD pair.
- Cash-settled and non-cash-settled crypto futures contracts.
- NFT listing and trading (upcoming feature).
- Trading and crypto guides. Podcast.
- IOS and Android apps and web applications.
- Portfolio tracking, price watch, and monitoring.
- Staking – earn up to 23% on your crypto holdings.
- Kraken Bank for asset custody, safekeeping, a bridge between crypto and fiat systems (onramp), etc.
- Low non-instant fees.
- High liquidity. It also has liquidity and other programs for institutional traders.
- Pro subscription is also a favorite for advanced traders and charge even lower fees.
- Additional products like trading indices, staking, and NFTs.
- Suitable for beginner traders.
- Very low deposit minimum and trade minimums ($10).
- A few selective deposits or payment methods.
- Not available in all US states.
- No trading bots support or copy trading for beginner active traders.
Verdict: Kraken charges quite low fees compared to many other exchanges for those buying, selling, and trading cryptocurrencies. The trading fee is further reduced with a Pro subscription. Besides, this exchange has a competitively large variation of products through which customers can invest.
Fees: Instant purchases: 0.9% for trading stablecoins either with fiat or other stablecoins, 1.5% for buying stablecoins with other cryptos, 3.75% + 0.25c for payment card purchases, and 3.75% + 0.25c when buying crypto with digital wallet payments.
Kraken Pro fees – From 0.16% maker and 0.26% taker fee for $0-$50,000 30-day trading volume for tier 1. Up to 0.00% maker and taker fees for a 30-day volume of $10 million+ for tier 9.
When trading currency pairs (for instance USD/EUR) or stablecoin/currency pairs like USDT/USD or pegged token pairs, the trading fee is between 0.2% for maker and taker for $0-$50,000 30-day trading volume tier 1 up to 0.00% maker and taker fee for $1 million+ 30-day volume in tier 6.
Margin trading fees, plus rollover fees, vary from one crypto to another. Futures trading fees range from 0.02% maker and 0.05% taker fees for between $0-$100,000 30-day trading volume in tier 1 to 0.01% maker and taker fees for $100 million+30-day trading volume in tier 8.
NFT trading fee is 2% plus network transaction fees.
FTX supports the buying and selling 30+ cryptocurrencies and NFTs using USD, Euro, and other national currencies through credit cards, debit cards, and other funding options.
You can trade crypto-to-crypto as well as fiat-to-crypto pairs on the spot markets on this exchange. The exchange also allows instant swapping of crypto for another without having to trade in the order book.
It also supports advanced trading for speculative traders who want to leverage advanced trading techniques and order types to earn profit from trading crypto actively. This includes those who want to use crypto trading bots.
You can build and share trading rules on this exchange. FTX also supports derivatives (options, swaps, and futures) trading for active traders starting for as low as 0.01 BTC and 0.10 ETH contract amounts for options, swaps, and futures.
FTX also allows users to trade over-the-counter (including via OTC APIs) via otc.ftx.us for huge sums of crypto. Institutional and pro-traders can also leverage market-making programs and VIP services on this exchange. The platform also allows people to trade ETFs and stocks such as Tesla, Amazon, NVDA, and others.
How to buy crypto on FTX:
Step #1: Sign up on the crypto exchange. Deposit fiat through accepted methods.
Step #2: Place an order. Navigate to Markets and select Crypto to trade. Enter the amount to buy and proceed to pay with the deposited amount. This can be done with a market order.
Step #3: For advanced trading, you can see the order book entries, price chart, etc. You can also choose the type of order before placing an order. You must register for margin trading to use that feature.
- FTX Card for converting crypto to fiat instantly and spending at Visa merchant stores and ATMs around the world.
- Create, list, buy and sell NFTs.
- Portfolio tracking.
- FTX Pay-Get paid in crypto, fiat, or anything using the company’s low-fee payment processor. Either in the FTX account or external wallet.
- Stock trading.
- FTX Climate funds climate research and invests in climate offset projects.
- Margin trading – Up to 20x your order amount.
- Borrow crypto on crypto collateral.
- Stake FTT platform tokens to earn passive income. The staking fee is 0.003% and 0% fee for staking 25 FTT and more.
- Liquidity program for market makers, a VIP program for professional traders, and a referral program.
- High derivatives volumes. The exchange is a specialist in this.
- Crypto Visa cards allow for easy and quick conversion to fiat and spending at merchant stores and ATMs. No need for manual transfers to the bank, etc.
- High leverage of up to 20x.
- Feature-rich with multiple product options. Also excellent for those looking for how to buy cryptocurrency stocks, as some are supported.
- The high fiat withdrawal fee – $75.
- No live chat support option.
- No copy trading capability or social trading.
Verdict: FTX is best known for derivatives trading and is one of the largest derivatives trading exchanges globally. The exchange charges a very low fee, as you can see from the fee section below.
Fees: Tiered from 0.020% maker and 0.070% taker for tier 1 (0 30-day trading volume) to 0.0% maker and 0.040% taker fee for tier 6 (with over 50 million 30-day trading volume). FTT platform token holders get fee discounts from 3% for holding $100 to 60% for holding $5 million FTT tokens.
Other fees apply (e.g. leverage creation and redemption 0.01% as well as 0.03% management fee). No OTC trading fees.
Bitstamp is one of the oldest cryptocurrency exchanges, having started in 2011. It lets customers buy, sell, and exchange up to 75 cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, and others over mobile (iOS and Android) apps and web apps. This is a great alternative for those looking to learn how to buy cryptocurrency on Robinhood.
First, you can choose to buy each of these cryptocurrencies instantly, using credit and debit cards and ACH. This is in addition to depositing other cryptos to buy your preferred crypto.
Second, you can withdraw cryptos in the form of fiat to a bank account regardless of your location. Third, you can choose to actively speculate-trade cryptocurrencies on the spot or futures markets on this exchange.
Trading crypto on spots and futures markets on this exchange can be done using advanced trading and market research tools like charting tools, TradeView signals and analyses integration, and advanced order types.
How to buy crypto on Bitstamp:
Step #1: Sign up and verify your account on a mobile or web app. Deposit money through a credit/debit bank or bank account from the deposit tab after logging in. Verify the account.
Step #2: Click/tap on markets where you access the list of cryptos supported, then select the target crypto to buy, sell, or actively trade it. To buy, enter the amount and proceed to pay with the balance or via credit/debit card or other supported methods. Confirm the order and click/tap buy.
Buy crypto from Bitstamp:
Step #3: Click/tap on the drop-down menu on the top left hand side to select the pair to trade against the selected crypto if you want to trade the crypto on-the-spot market. To actively trade it, you must have it in your account either after depositing it directly into your wallet or by exchanging another crypto or depositing fiat on the exchange.
- Institutional trading (buying, selling, active trading, and exchanging) tools like APIs, order execution, data streams, access to lending, storage, address whitelisting, liquidity pools, and deep order books. This service is accessible to brokers, neo banks, and FinTech willing to integrate crypto tech, banks, hedge funds, prop traders, family offices, aggregators, and others.
- Build your crypto offer to provide crypto-as-a-service. This enables customers of an institution to access crypto for trading on the institution’s platform and apps. Bitstamp can offer in-house projects and business development for the product.
- Staking Ethereum and Algorand to earn up to 5% APY.
- Easy to use platform.
- Pro subscription is favorable for advanced traders and institutions.
- Low account deposit minimum ($10).
- 24/7 customer support.
- Tried and tested crypto exchange. Highly trusted.
- Slow verification process.
- Not as many tokens are supported as would be on other exchanges.
Verdict: Bitstamp has a low fee compared to the vast majority of cryptocurrency exchanges. It suits beginner traders with its low deposit minimums, but also advanced traders and institutions have given its deep liquidity, APIs, OTC, whitelisting, and crypto-as-a-service program.
Fees: Trading fee depends on 30-day trading volume and ranges from 0.50% for <$10,000 to 0.0% for >$20 million 30-day trading volume. Deposits with SEPA, ACH, and Faster Payments are free. Credit/debit card is 5%, international wire 0.05%, and crypto deposit is free.
This tutorial discusses multiple places where to buy cryptocurrencies and how to buy cryptocurrency in these markets. We saw huge differences in terms of crypto trading fees.
Some of the exchanges like Crypto.com, Bitstamp, and FTX exchange allow traders to buy crypto for as low as zero fees if holding their platform tokens or trading large volumes in the previous month. Huge-volume traders can leverage these aspects.
Most of these exchanges support buying crypto directly with a credit card, debit card, or bank account. For some, you will need to first deposit fiat (USD and other currencies) and then use the ordinary trading platform at the spot exchange buying fees. There is rarely any difference between the two.
However, pro traders, institutional traders, brokers, and other companies can leverage market-making programs, bot trading, OTC buying and selling, liquidity APIs, and crypto-as-a-service programs to earn more on crypto.
Multiple exchanges now support one or more of these features. Retail investors can also leverage smart orders, bots, advanced order types, and copy trading to earn more from active and speculative crypto trading.
- Cryptocurrency exchanges listed for review: 10.
- Cryptocurrency exchanges actually reviewed: 7.
- Time taken for review: 25 hours.