Buying cryptocurrency is confusing for a lot of people. It’s not a stock or a typical “investment.” It’s not like anything most people have ever seen or experienced. You don’t get shares; instead you get digital coins or tokens. The coins are “better” than a paper dollar bill because they actually support a greater cause, as in Ethereum’s case, to build a decentralized internet and host code and apps on a decentralized platform. And coins help “fuel” that cause, so to speak, without getting technical.

For most people in the U.S., Coinbase would be the easiest option to buy Ethereum, Bitcoin, or Litecoin (it doesn’t support any others yet). After verifying your account, you can add a number of payment methods including credit or debit cards, U.S. bank accounts, or even wire transfers of funds. Other options for exchanges that will take U.S. dollars for coins are Kraken, and Gemini in the U.S. Typically you will need to verify your account with a driver’s license and add other details to expand your buy limits. Since cryptocurrencies are “hard currencies,” the exchanges don’t want to risk getting ripped off, since you can’t reverse a cryptocurrency transaction once it’s done.

Binance is a cryptocurrency exchange. In fact, it’s the largest one in the world by means of traded volume and it has been dominating the market for the time being.

Kraken is another cryptocurrency exchange used to buy or sell cryptocurrency. Unlike Binance however, it does allow funding of your account via fiat currencies. So, the first thing you’d have to do is to open an account.

Once you are done, you need to navigate to the Funding page of Kraken and select the deposit option and go to the USD (or EUR for Europeans) page. If you haven’t already, you should accept the domestic USD deposit Terms of Service.

After that, you should select the option to do a US domestic wire bank transfer in order to copy your domestic USD deposit wire transfer details.

The next step would depend on the bank that you are using for the bank transfer. But essentially you would have to provide the displayed information on your Kraken deposit to your bank regarding the wire transfer. The bank transfer will then transfer credit to a credit card or the funds directly from your bank transfer account to your USD account on Kraken.

Once the bank transfers are complete, you will be able to buy or sell cryptocurrency, buy bitcoin, and trade on the platform. It’s a cryptocurrency exchange just like Binance and you would have to select the trading pair of buyers and sellers you want to engage with.

The exchange rates are updated in real-time based on the current market conditions while displaying the order book volume with buyers and sellers, as well as bank transfers and their fees.

Note: Cryptocurrency and fiat withdrawals typically depend on the level of identity verification you provide to the exchange. The more documents you submit, the larger the amount will be that you can withdraw on a daily basis. Binance, for example, allows withdrawals of up to 3 BTC daily for the most basic ID verification level. 

Hodl Hodl is a peer-to-peer (P2P) cryptocurrency exchange, which allows buyers or sellers to trade directly. It doesn’t hold user’s funds but locks it in a multisig escrow account which is supposed to minimize the risks associated with cryptocurrency theft.

What’s more, since the platform doesn’t hold any funds, you don’t have to go through complex KYC/AML compliance procedures.

In order to buy bitcoin, all you’d have to do is enter your location, as well as the amount that you want to purchase. You can also choose between paying with cash, bank wire, cryptocurrency, or online.

Here are details for the companies in which country they works. Below we are mentioning few major exchanges but you can use any you like rather then these. We are not affiliated in any way with any of cryptocurrency exchanges we mentioned on our website.

Coinbase – USA, Canada, Singapore, and Europe
Coinmama – Global
CEX.IO – Global
BitPanda – Europe
Gemini – US & Canada
LocalBitcoins – Global
BitQuick – USA
Wall of Coins – United States, Canada, Germany + 5 more
Bitfinex – Global
Bitrex – Global
Changelly – Global
Luno – Global
Poloniex – Global
Cryptopia – New Zealand

 

 

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