The Best Way To Buy Bitcoin
Let’s keep it simple: the best way to buy Bitcoin is the one that suits you the best.
Anyone looking to trade Bitcoin will need efficiency, speed, security, and transparency.
Therefore, our objective is to show you the best setup for buying the crypto coin. What you need is a good exchange and a good wallet.
From the best wallet to the best exchange, read on to discover the way we’ve found to be the most effective.
Now, before we begin, I must clarify that I value safety and versatility the most, so accordingly, I’ll list the different aspects of buying cryptos.
1. The Best Crypto Wallets
One of the pinnacles of Bitcoin is where you keep them, so here are some of the best wallets we’ve used and tested:
● Browser: Blockchain.info
Blockchain.info is the best wallet for transparency and safety; it has set a standard for web wallets in the community. This wallet offers a modern and intuitive interface, and on-screen price charts and the USD equivalent of your holdings.
It also has paper wallet compatibility.
● Desktop: Electrum
Electrum is as standard as it gets for desktop wallets—and for good reason!
The wallet keeps giving the feeling of safety, and its intuitiveness sits at the top of the competition.
● Mobile: Mycelium
While it is a complex wallet, you’ll be hard-pressed to find a more secure and customizable wallet than Mycelium.
For added security, it’s compatible with the Trezor hardware wallet.
● Hardware: Trezor
Trezor and Ledger sit close to each other when it comes to quality, and many say that they are equal.
I tend to think the same way, but Trezor was my first hardware wallet, and its safety and cross-wallet compatibility have ensured that I don’t need to look anywhere else.
● Paper: BitcoinPaperWallet
I’m not a fan of paper wallets, yet they are very useful for gifts and quick transactions. Therefore, I’ve used them, and the best I’ve tried is BitcoinPaperWallet. The website is safe, and it’s been approved by users time and time again.
2. The Best Crypto Exchanges
Your wallet won’t do much if you don’t have coins, so you also need access to the market. That’s where exchanges come in.
There are many exchanges, each with their own features in terms of liquidity, safety, and transparency.
Hands down, Coinbase is the best exchange for beginner crypto traders. The interface is simple, and its liquidity guarantees that you can always sell or buy Bitcoin without leaving your comfort zone too much.
Kraken is more complex and less versatile than Coinbase, but it’s still recommended among many traders, albeit more advanced ones. The exchange lets you trade cryptocurrencies against one another, so you don’t really need to deposit fiat to do so.
The best part about Binance is that it offers prizes for the most active users, and it lets traders reduce their trading costs by using Binance’s own cryptocurrency. It offers more cryptocurrencies than Coinbase, but you can’t trade with fiat.
LocalBitcoin is a special exchange because it’s the only one here that doesn’t act as a broker. In it, users can post selling or buying offers, and the exchange lets other users contact them directly.