When trying to decide what is the best place to buy bitcoins, a problem many investors run into is finding a trustworthy site that has an established reputation in the market. While many of the exchanges offering a way to purchase the cryptocurrency often shut down quickly, there are some options that have a proven record.
The biggest thing to look for when trying to find a place to buy bitcoins is trustworthiness and user-friendliness for beginners. These factors combined with longevity and user volume are key to figuring out where to purchase bitcoins.
Listed below are three of the best places to buy bitcoins, all marked by their trustworthiness and ease of use.
First up on this list of places to buy bitcoins is Bitstamp. Not only are they well regarded in terms of trustworthiness, but are known for their ease of access for beginners.
Bitstamp is the third largest cryptocurrency exchange in the world, lending to its credibility. They also have a very user-friendly interface and generally safe security features. The site is also good for larger purchases. However, the only knock against them is that their availability is limited to the US and Europe.
Another place that is noted for its trustworthiness, Coinbase is a popular exchange that has been around for quite a while.
They have a relatively easy to use interface and multiple digital wallets to pick from for the currency. Coinbase also has a solid reputation and a rather large customer database, lending to their credibility and reputation as one of the best places to purchase bitcoins.
Some other advantages include their availability in different currency zones, such as Europe. They also guarantee every deposit is insured. The biggest factor, however, when choosing the site is their compatibility with Android and iOS. Users are known to recommend the site based on their ability to use the site without encountering problems with running their mobile app.
LocalBitcoins is another site known for trustworthiness as well as ease of use for beginners. They’re unique in that they offer p2p (person-to-person) trading, which is essentially a way to purchase the cryptocurrency directly from the other person selling it.
LocalBitcoins also offers users the option of paying with PayPal and does not require verification. In fact, they offer users many options for payment without the hassle of having to use an online account. Users can send checks through the mail or even use cash deposits.
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The last thing to note is that LocalBitcoins allows sellers to set their own fees for the cryptocurrency.
Alternative Sites That Look Promising
While the three places mentioned all regarded for trustworthiness and are known for beginner friendliness, they’re hardly alone when it comes to looking for the best place to buy bitcoins.
Some other notable sites that are known for their trustworthiness and beginner friendliness are Etoro, Bittrex, and Cex.io.
All have solid reputations and experience in the market, putting them well ahead of the competition.
Some Final Things to Consider
While trustworthiness and friendliness for beginners are great metrics to measure the best places to purchase bitcoins, some final things to consider include the exchange rate, payment method, speed, amount, fees, and as always, privacy.
The idea of purchasing bitcoins through an online exchange can seem daunting and rather difficult but there are plenty of places that are easy to choose from. Before getting too overwhelmed, remember that while these aspects to consider are rather extensive, it’s imperative to focus on overall user experience that also combines friendly services and a trustworthy reputation. Those metrics are often the determining factor when trying to decide what is the best place to buy bitcoins.