The best place to buy and sell crypto has been trending in 2022 due to the plunging of cryptocurrencies to new high lows.
It is widely known that some traders and investors have made a fortune by trading and investing in cryptocurrencies.
What crypto news outlets do not tell millions of readers is that several traders and investors have been scammed of hundreds and thousands which have culminated in billions of dollars being stolen by third parties.
This is the primary reason why you should be extremely interested in not only buying and selling cryptocurrencies but finding the best sites to buy cryptocurrency.
As of today, there are more than 500 centralized and decentralized exchanges supporting more than 19,000 cryptocurrencies for trading.
As a result, you need to find the easiest way to buy Bitcoin, and also the best place to buy altcoins.
This way, you have a balanced portfolio of major coins, altcoins, and non-volatile assets such as stocks, commodities, and metals that could bring awesome gains to your investment holdings.
With the market still recovering from the steep decline in the value of cryptocurrencies, let us analyze the best ways to buy and sell cryptocurrencies in 2022 and beyond.
Virtual currencies are highly volatile. Your capital is at risk.
Although several websites and exchanges support cryptocurrencies, you need to cultivate the habit of using platforms that have some of the lowest fees as well as guarantee the safety of your custodial account.
After doing a study of the more than 500 exchanges and places to buy and sell cryptocurrency, we settled on five (5).
These five were carefully chosen based on important factors such as regulation, volume, and reputation.
The 5 best places to buy and sell cryptocurrency in 2022 are;
Virtual currencies are highly volatile. Your capital is at risk.
No matter the places, platforms, or exchanges you settle on to buy and sell cryptocurrencies, you will have to go through the five (5) simple steps below.
1. Open a cryptocurrency account. You have to enter legal details of your full name, email address, phone number, and home address.
2. Verify your account. You will need scanned images of a government-issued identification card that has your signature embossed. Aside from that, you need a bank statement, utility bill, or credit card statement to fully verify your account.
3. Deposit funds. Without funds, you cannot buy cryptocurrencies. You need to choose your preferred methods and they are bank cards, bank transfers, direct crypto deposits through crypto wallets, and e-wallets such as PayPal.
4. Search for cryptocurrencies. Just enter the digital asset of your choice in the "SEARCH BAR". Once you find it, you can start trading.
5. Buy cryptocurrencies. Once you settle on a particular digital asset, enter the amount of money you are willing to risk, and click on "OPEN TRADE" to complete the purchase.
Virtual currencies are highly volatile. Your capital is at risk.
There are hundreds of platforms, exchanges, ways, and places to buy cryptocurrencies.
With that said, you must select places that are the safest and cheapest ways to buy cryptocurrencies.
Let us examine some of the best ways to buy and sell cryptocurrency so that you will be in a position to decide which platform will best suit your trading and investing needs.
Exchanges are some of the best places to buy and sell crypto. Aside from that, numerous exchanges are some of the cheapest ways to buy crypto.
Exchanges are trading platforms that facilitate the trading of cryptocurrencies for fiat currency such as BTC/USD, cryptocurrencies for other digital assets such as BTC/ETH, and stablecoins such as BTC/USDT.
Exchanges come in two forms and they are centralized and decentralized. Centralized exchanges normally abbreviated as CEXs are highly regulated by central financial bodies in several countries and therefore are subject to Know Your Customer (KYC) rules.
On the other hand, decentralized exchanges normally abbreviated as DEXs are not regulated by any central authority and allow traders to remain anonymous.
Examples of centralized exchanges include but are not limited to Coinbase, Binance, eToro, Crypto.com, BitMart, Kraken, OKX, FTX, Bitrue, and CoinFLEX.
Examples of decentralized exchanges include but are not limited to Uniswap, SushiSwap, PancakeSwap, TerraSwap, Curve, Balancer, ShibaSwap, Synthetix, and Ox Native.
All of the aforementioned exchanges can be accessed via the World Wide Web.
Fortunately, the sophistication of the internet has made it possible for every exchange to own a mobile application.
You can find several exchanges on the Apple Store for users of iOS-powered devices such as phones, tablets, and notepads.
In the same way, users of Android-powered devices such as personal computers, notebooks, tablets, and phones can find apps for exchanges on the Google Play Store.
Mobile applications are among the fastest ways to buy and sell cryptocurrency.
These are financial technology companies that allow people to send and receive money using their phone number or email address. Examples of online payment platforms that have integrated the buying, holding, and selling of cryptocurrencies include PayPal, Skrill, and Neteller.
In the last three (3) years, these e-wallets have made the transition from allowing people to send and receive fiat money such as USD, EUR, and GBP, to allowing customers to own Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Solana (SOL), Polkadot (DOT), Shiba Inu (SHIB), Dogecoin (DOGE), Avalanche (AVAX), and others.
If you become a fully verified customer, you can buy and sell cryptocurrencies within minutes.
It is extremely understandable if you are struggling in your search towards finding the best way to buy cryptocurrency in 2022. Several beginner traders have been scammed out of their hard-earned money thinking they were investing in cryptocurrencies through a legitimate website.
The following section discusses the five best places to buy and sell cryptocurrencies.
After you are done going through each exchange, you will be emboldened to settle on one that meets your needs and interests.
Virtual currencies are highly volatile. Your capital is at risk.
Cryptocurrencies were created with the sole purpose of being accessed by anyone with access to the internet.
Highly decentralized, anyone across the globe can send or receive digital assets through a crypto wallet. The same does not hold for exchanges.
While certain exchanges support almost every country on the globe, others have geographical restrictions.
Supporting more countries is extremely crucial to the success of a cryptocurrency exchange as this shows the depth of security, customer service, and trading volume.
Let us take an in-depth look at the 5 best places to buy and sell cryptocurrencies.
After operating for more than 15 years without being mired in any hacking or scamming controversies, eToro is our overall best place to buy and sell cryptocurrencies.
As a multi-asset exchange, eToro was founded in 2007.
After supporting the trading of stocks, commodities, and metals for seven (7) years, eToro finally succumbed to the pressure from its customers to list digital assets on their platform.
In 2014, customers got their wish and as of May 2022, there are around 62 cryptocurrencies on eToro.
With more than 24 million registered users, as of February 2022, eToro supports more than 100 countries.
Some of the cryptocurrencies include but are not limited to major coins Bitcoin (BTC), Ethereum (ETH), and others such as Binance Coin (BNB), Chainlink (LINK), Dogecoin (DOGE), Ripple (XRP), Decentraland (MANA), Algorand (ALGO), TRON (TRX), Tezos (XTZ), Axie Infinity (AXS), Compound (COMP), Uniswap (UNI), Dash (DASH), ApeCoin (APE), and Cardano (ADA) among others.
Before you settle on eToro as the best way to buy and sell cryptocurrencies, let us analyze the pros and cons of eToro.
Virtual currencies are highly volatile. Your capital is at risk.
As the biggest cryptocurrency exchange in the United States by trading volume, Coinbase Pro was born out of Coinbase Exchange. Coinbase was founded on June 20, 2012, and launched a subsidiary, GDAX, in 2015, which was rebranded to Coinbase Pro on May 23, 2018.
Coinbase Pro has more than 98 million verified users and supports more than 100 countries.
As of May 2022, Coinbase Pro supports approximately 136 cryptocurrencies and over 400 markets.
Some of the cryptocurrencies supported by Coinbase Pro include but are not limited to Solana, Shiba Inu (SHIB), Avalanche (AVAX), ApeCoin (APE), Dogecoin, Chainlink, Ethereum, Bitcoin, Tether USD (USDT), Polkadot (DOT), Algorand (ALGO), Aave (AAVE), Bitcoin Cash (BCH), Tezos (XTZ), and Loopring (LRC) among others. Coinbase Pro is one of the easiest, cheapest, and safest places to buy cryptocurrencies.
Before you settle on Coinbase Pro as the best exchange to buy and sell cryptocurrencies, it would be in your interest to know the pros and cons of Coinbase Pro.
Pros of buying and selling cryptocurrencies with Coinbase Pro
Cons of buying and selling cryptocurrencies with Coinbase Pro
Virtual currencies are highly volatile. Your capital is at risk.
As a centralized exchange, BitMart was founded in 2018. BitMart is one of the biggest exchanges by daily volume. The platform is headquartered in Cayman Island.
With more than 2.2 million active users across the globe, BitMart records a minimum of $1 billion in daily volume.
The cryptocurrency exchange supports more than 260 digital assets as well as over 300 markets.
This means that you would have to trade cryptocurrencies for fiat, other tokens, and stablecoins.
With a vision of making cryptocurrency available to everyone across the globe, BitMart supports spot and over-the-counter (OTC) trading in addition to USD trading.
Some of the cryptocurrencies BitMart support include Bitcoin, Pax Dollar (USDP), TrueUSD (TUSD), NEAR Protocol (NEAR), BeachCoin (SAND), STEPN (GMT), Theta Token (THETA), FTX Token (FTT), Internet Computer (ICP), Ethereum, Filecoin (FIL), Celo (CELO), and TRON (TRX) among others.
It is very easy to come across questions such as what cryptocurrencies can you buy on BitMart, how do I buy cryptocurrencies on BitMart, is BitMart secure, and how do I trade cryptocurrencies on BitMart, what cryptocurrencies are available on BitMart, and is BitMart safe?
To answer the aforementioned questions, let us analyze the pros and cons of buying and selling cryptocurrencies with BitMart.
Pros of buying cryptocurrencies through BitMart
Cons of buying and selling cryptocurrency through BitMart
Virtual currencies are highly volatile. Your capital is at risk.
Founded in 2016, Crypto.com is one of the safest places to buy and sell cryptocurrencies in 2022 and beyond.
With more than 10 million customers, Crypto.com serves more than 100 countries and supports more than 190 cryptocurrencies. Additionally, there are more than 340 markets on Crypto.com, and it's ranked in the top 20 exchanges by volume.
Some of the cryptocurrencies that can be found on Crypto.com include but are not limited to Bitcoin, Ethereum, United States Dollar Coin (USDC), Polkadot, ApeCoin, Solana, Dogecoin, Shiba Inu, Avalanche, Cronos, Cosmos, Axie Infinity, Flow (FLOW), Terra (LUNA), and Stellar (XLM) among others.
It is very easy to come across questions such as is Crypto.com a good place to buy cryptocurrencies, is it safe to buy cryptocurrencies on Crypto.com and is Crypto.com one of the best places to buy crypto?
The pros and cons of buying and selling cryptocurrency through Crypto.com will find answers to the aforementioned questions.
Pros of buying and selling cryptocurrency through Crypto.com
Cons of buying and selling cryptocurrency through Crypto.com
Virtual currencies are highly volatile. Your capital is at risk.
Founded in 2017, Binance is part of the Binance ecosystem that comprises stablecoins, decentralized applications (dApps), non-fungible tokens (NFTs), and other applications that are highly relevant to the space.
Binance supports over 180 countries and sees more than 20 million users weekly.
As the largest cryptocurrency exchange by daily volume, Binance is one of the cheapest, safest, and best places to buy and sell cryptocurrencies.
This is the primary reason why millions of traders and investors have taken to this exchange to buy cryptocurrencies of their choice. Despite the impact this platform has had in the crypto finance space, people have questions.
Among others, some ask, is Binance a safe place to buy cryptocurrencies, how to buy and sell cryptocurrency on Binance, how to buy a coin on Binance, is Binance safe, is Binance legit, is Binance good for beginners, and is Binance regulated among others.
Binance supports more than 300 cryptocurrencies and over 1,000 markets. Some of the cryptocurrencies that are supported by the exchange include but are not limited to Bitcoin, Ethereum, Shiba Inu, Binance Coin, Ripple (XRP), Litecoin, Dogecoin, and ApeCoin.
Let us assess the pros and cons of buying cryptocurrencies through Binance that can help answer some of the questions above.
Pros of buying and selling cryptocurrencies through Binance
Cons of buying and selling cryptocurrencies through Binance
Virtual currencies are highly volatile. Your capital is at risk.
The five (5) exchanges above are the best places to buy and sell cryptocurrency. Before you settle on any cryptocurrency exchange, you should do everything in your capacity to consider security, ease of use, fees, customer support, payment method, and geographical restrictions.
Although exchanges perform the same role, some have great features while others do not.
Let us analyze these factors one by one.
When searching for the best sites to buy cryptocurrency, do not follow the crowd.
Settle on an exchange that is among the safest places to buy cryptocurrency.
You should know that the accounts held on centralized exchanges are called custodial wallets.
This means that you have access to your account through the passwords and two-factor authentication (2FA) set during the registration process.
Unfortunately, the private keys or passcodes to your cryptocurrencies are in the hands of representatives of your preferred exchange.
Therefore, settle on an exchange that has operated for years without any news of cybersecurity breaches by third parties.
As an e-learning platform, we believe eToro meets this criterion. Therefore, we can say eToro is one of the safest places to buy and sell cryptocurrencies.
Many people ask the question, what is the easiest way to buy cryptocurrency? It is important to find an exchange that will make it easy for you to buy your tokens without going through stress.
Many exchanges are great but are not beginner-friendly.
Due to the high sophistication of the internet, some exchanges have been built with advanced trading features which are not in line with the expectations of novice traders.
Do not choose an exchange because it is one of the cheapest ways to buy crypto.
Assess ease of use by reading reviews of the exchange from millions of people online.
Once you are done, you can choose a platform.
From our research, you can register for an account, go through a verification process, and buy cryptocurrencies in less than one hour on eToro.
Therefore, we can recommend eToro as the easiest place to buy, and sell cryptocurrencies.
Many traders and investors ask the question, what is the cheapest place to buy cryptocurrency?
Although there are several best places to purchase cryptocurrency, you should always factor fees into perspective before settling on an exchange.
There are three (3) types of fees and they are depositing, transaction, and withdrawal.
When you know the fee structure of an exchange, you are better positioned to know the amount of money you have to deposit before you can buy a certain worth of cryptocurrencies.
For example, if an exchange charges 4.99% deposit fees, you have to upload around $105 before you can purchase $100 worth of cryptocurrencies.
After going through the more than 500 exchanges that support the trading of cryptocurrencies, we settled on eToro as the best place to buy and sell cryptocurrencies based on fees.
You can make deposits through a range of payment methods and pay $0 in fees.
You do not want a situation where you need an explanation and cannot find representatives of an exchange to answer your questions.
Settle on an exchange that supports several languages so that you can get all your demands met.
Do an extensive study about an exchange to see whether it has your preferred payment method.
If you find dubious means to deposit funds into an account through an exchange that is not supported by your preferred exchange, your account will be locked.
Exchanges normally request additional information periodically to verify that the person behind the account is real and has all the necessary documents that meet Know Your Customer (KYC) regulations and rules.
Find an exchange that allows you to deposit via e-wallets such as PayPal, bank cards, and bank transfers.
From our search, eToro supports several payment methods and can be said to be one of the best places to buy and sell crypto.
If an exchange does not support your country, do not use it.
It has become easy to break into several websites and applications. With the advancement of the internet, you can change your Internet Protocol (IP) address using Virtual Private Networks (VPNs).
Should something happen which requires you to contact customer service, you should be prepared to lose your entire holdings since your account will be locked for suspicion of fraud.
Scroll through supported countries and once done, you can go on and buy and sell any worth of cryptocurrencies that meet your investment budget.
Virtual currencies are highly volatile. Your capital is at risk.
Whether you are a novice or experienced trader, you need to use the right platforms for cryptocurrency at all times.
Through this article, you now know that the best places to buy and sell crypto are exchanges, mobile applications, and online payment systems wallets.
What's more, we did an extensive study on some of the best places to buy and sell some of your favorite cryptocurrencies.
Whatever happens, always consider several essential factors before choosing the best way to buy crypto.
With that said, we believe that Coinbase and eToro are the best exchanges to buy and sell crypto.
eToro continues to serve millions of people daily and could be a great exchange for you as well.
Virtual currencies are highly volatile. Your capital is at risk.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.