These days, you have a huge variety of options when it comes to buying crypto. The ecosystem that has built up around the industry means that, whatever your needs, there will be a platform that suits you. Some are suited to newcomers and some are for experts, some are packed with features and some are a streamlined experience. In this blog we break down important factors in your decision-making, and some of the different options out there today.
There are many gateways to crypto but there are also a few very important things to keep in mind when interacting with anyone offering to exchange your local currency for crypto:
Any gateway you are considering should be officially registered and have a licence for its services.
Fast Transaction Speed
You will want all transactions to be done quickly, rather than wait around for 10 minutes wondering if it went through.
Exchanging fiat to crypto can be an expensive process. All the more reason why fees need to be transparent and reasonable.
User Friendly Interface
A user-friendly interface is one of the main criteria to choose a crypto purchase provider. It should be convenient, quick, and stress-free.
All transactions through any gateway must meet the highest security standards. Users must be certain that they will not lose their money.
With these factors in mind, here are some providers:
Crypto Exchange: Binance
Binance is one of the biggest cryptocurrency exchanges in the world, with a regular daily trading volume over $20B. Binance caters to new users by providing a number of different ways to buy crypto on their platform which include using credit/debit cards, and P2P trading. Bnance also has one of the largest selections of crypto tokens out there. The exchange’s Binance Pay wallet even makes it possible to use your crypto to purchase real-world goods. If you’re looking for your first account with an exchange, then the world’s largest is not a bad place to start!
All-in-One Money App: Revolut
Revolut is a comprehensive digital banking app and card with a focus on technological innovations, low fees, and many unique features. Designed for users who travel frequently and offering different ways to spend abroad, the service includes international money transfers with no hidden fees. Revolut is constantly updating its features to include access to multiple FX products, commodities and, most recently, cryptocurrency. By building one of fintech’s most advanced superapps with easy sign up and attentive customer support, users of Revolut are easily able to add crypto to their portfolio.
Beginner-Friendly Investment: Robinhood
Robinhood is a US financial services app that offers commission-free trading of stocks, exchange-traded funds, and cryptocurrency via their mobile and desktop app – introduced in 2015. Having been a go-to option for many retail traders/investors of traditional financial assets, Robinhood had an established customer base due in part to their user-friendly, simple interface, and an app that offers commission-free trades and the ability to buy fractional assets. The easy to use app will provide a familiar environment for their existing customers looking to make their first cryptocurrency purchase.
Most Versatile: Alchemy Pay
For many years, Alchemy Pay (ACH) was purely business-to-business (B2B) gateway payment provider for transacting between fiat and cryptocurrency, seamlessly connecting fiat finance and crypto economies for global consumers, businesses and developers. Now, though, Alchemy Pay is providing its fiat-crypto ramp solution to networks and dApps, large and small, across the industry. If you’ve tried an NFT marketplace, DeFi protocol, or crypto gaming then you may have seen the ramp in the form of a payment widget. While other ramps also support Visa and Mastercard purchase, Alchemy Pay goes way beyond. It supports purchases with many popular Southeast Asian and Latin American fiat mobile wallets as well as purchases of crypto with Binance Pay’s wallet (70+M users). In fact Alchemy Pay’s network supports over 300 fiat payment channels so whatever you want to use to buy your crypto, the chances are you can do it with Alchemy Pay!
TradFi Payments: Paypal
PayPal is an online payment system that provides safe and secure online payments alongside crypto purchase and custody. Users can link their bank account, credit card or debit card to their PayPal account and use PayPal to make purchases online with participating stores. Users can also use PayPal to securely send money to friends and family as well as receive money from people across the world. Users of the online payment system like its direct and secure system, and are now able to use the app to buy, transfer, and sell cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
Crypto can be confusing to newcomers and fascinating to experts and enthusiasts. Whatever your technical level or personal needs, there are plenty of platforms out there to suit you. It should be noted that different platforms and different features will be available depending on the country you live in.
In Summary: 5 Best Platforms to Buy Cryptocurrency 2022
- Alchemy Pay