Bitcoin is the electronic equivalent of real money. In fact, bitcoins are a new digital payment system with the ability to instantly transfer online, which allows you to make purchases, pay for services and even invest. Despite its specificity, in particular, the absence of any control from banks and institutions, bitcoin is a very secure electronic currency.
Cryptocurrency exchanges
Crypto exchanges are used when it comes to full-fledged trading. Pros – extensive trading functionality, relative reliability, seriousness. Cons – high commission, increased complexity, reduced security. Crypto exchanges are analogous to classic stock exchanges, only trading is carried out not in shares, but in virtual assets. How to Buy Bitcoin in India? Let’s take a look at the most popular cryptocurrency exchanges.
Binance was founded not so long ago – in 2017, and already in 2018, it became the largest crypto exchange in the world. Now the daily volume of transactions here exceeds $ 42.5 billion. In total, 351 cryptocurrencies are presented on the platform. Withdrawal of funds – to a bank card without commission. However, do not forget that the bank may charge a deposit fee.
Coinbase is an online cryptocurrency broker and exchange. Thus, on this platform, you can buy various cryptocurrencies, including the 10 most popular and largest in terms of market capitalization. Coinbase has been around since 2012 and is the oldest cryptocurrency broker and is currently one of the most popular.
Also Read: How to buy bitcoin in Canada- user’s guide
WazirX is a popular cryptocurrency exchange in the Asia-Pacific region. It is the leader in terms of user base and trading volume in India. At the end of 2019, the site was acquired by the international trading platform Binance. This made it possible to launch several Fiat to Crypto gateways (exchange of cryptocurrency for traditional money). Users can also log into WazirX through Binance to use the P2P system without fees.
Bybit cryptocurrency exchange was founded in 2018. Today the exchange is in the TOP-5 in terms of daily trading volume on the derivatives market. Bybit users have access to spot trading, inverse, and USDT futures. The main specialization of the exchange is trading perpetual derivative contracts for cryptocurrencies.
Also Read: How to Buy Bitcoin in Pakistan: A Guide for Beginners
Investments in cryptocurrencies continue to generate colossal income in 2021 and remain one of the most effective investment tools. The main thing is to know where to buy bitcoin safely and without risks, because the likelihood of losing is also high. Success depends on your knowledge, experience, tactics, analysis, and luck.