Crypto

Crypto Exchanges and Investing

Investing in Bitcoin is all the rage but how exactly does a beginner get started? Do you need to already have Bitcoin to invest? Or do you transfer money from your bank account to somewhere and convert it to Bitcoin? What does that look like? We’ll answer all of these questions and list 10 of the best cryptocurrency exchanges and platforms that allow you to buy Bitcoin and other tokens. Going forward, we’ll use BTC, which is the symbol for Bitcoin on exchanges and trading platforms. If you just want to earn a high return with crypto, you might consider a crypto savings account. These accounts pay up to 12%, but do come with risks (just like regular crypto investing). Check out the best cryptocurrency savings accounts here..

Coinbase

Coinbase is by far the most popular and one of the best cryptocurrency exchanges because you can invest directly with USD. You can currently purchase Bitcoin, Ethereum, and Litecoin and 30+ other coins and tokens on the platform. Furthermore, you can earn interest on your USDT, and you can earn token rewards by completing various activities. Plus, when you open a new Coinbase account, you get a $5 bonus for getting started!

Voyager

Voyager is a popular platform to invest in crypto as it was one of the first publicly traded exchanges. They are app-driven and offer a commission-free trading structure. Voyager supports most major cryptocurrencies, has solid support and engagement, and pays competitive interest rates on assets. Plus, when you open a Voyager account, you can earn $25 in BTC after trading $100 in crypto.

BlockFi

BlockFi is a cryptocurrency investment platform that allows you to lend and earn interest on your holdings. Also, instead of selling your coins and tokens, you can also borrow against your holdings. If you're just looking to hold your tokens, you can also just let them earn interest for you. Bonus Offer: Get up to $250 bonus when you make a $25 deposit and maintain it for the specified period of time.

Binance

Binance is a great platform for getting into some currencies like Cardano or Neo. Not as easy to use as some of the top platforms on this list, but they do have one of the most robust trading platforms out there. They do have a decent mobile app, but again, not as easy to use and we've been frustrated with it. Try Binance here. Note: Binance.us is the US-version of the platform and has limited coins and tokens to invest in versus the international version of Binance.

Crypto Wallet

Bitcoin has gained widespread acceptance and continues to grow in popularity. Unlike stocks at a stock brokerage, you can withdraw your cryptocurrencies from a crypto exchange and store them in an outside wallet. The best Bitcoin wallets make it easy (and maybe a little fun) to securely store and manage your crypto portfolio. If you’re looking to buy and store Bitcoin or other cryptocurrencies, you may be on the hunt for the best Bitcoin wallet. We looked at a long list of Bitcoin wallets with a focus on cost, user experience, supported cryptocurrencies, and other features. Keep reading for a look at some of the best Bitcoin wallets available today.

Exodus

Exodus is a desktop and mobile wallet with a very simple user interface and an exchange built-in. One of Exodus’s most popular features is the ability to swap between a growing number of cryptocurrencies. Exodus currently allows for swaps between over 100 different cryptocurrencies. With its simplicity, this wallet is great for beginners just getting into the crypto space. It also has great support, which is an essential feature for beginners getting into what many would consider a confusing market. While it is great for beginners, more advanced users may find it lacking in some features. First, Exodus is a closed source wallet. This goes against the ethos of the idea of Bitcoin and blockchain and can create some security concerns as its code is not open for everyone to see. Instead, users rely on the Exodus team to ensure there are no holes in the security of its wallet. Exodus has an option to set custom fees to keep costs down in addition to the option of automatically setting a fee that ensures the transaction completes quickly.

Electrum

Electrum is one of the original Bitcoin wallets. It has been around since 2011, two years after Bitcoin’s creation, and has changed little since. While this wallet is bare-bones in terms of its user interface and its commitment to only Bitcoin, it excels at this primary function. Electrum is also more suited for advanced users due to its complex options. Electrum is open source, allows its users to set custom transaction fees, and has the option to choose between legacy Bitcoin and Segwit. It also offers users the ability to determine the level of security they wish to use. For example, you can create a standard wallet, one with 2-factor authentication, or a multi-signature wallet. You can also elongate your seed phrase with custom words. Electrum is perfect for the more advanced Bitcoin holder who wants great security features and customizability all in a simple layout.

Mycelium

Mycelium is an open-source and mobile-only Bitcoin wallet. Mycelium currently only supports Bitcoin, ETH, and ERC-20 tokens. In some ways, Mycelium is quite similar to the Electrum wallet with some of the differences being that it is mobile only, has a more refreshed user interface than Electrum, and also has a built-in exchange. Mycelium, like Electrum, is one of the earlier wallets in the space. Also like Electrum, you can set custom transaction fees so you can choose how long you’re willing to wait for a transaction to be completed. Mycelium also has a few more interesting features such as hardware wallet support, which allows users to hold their Bitcoin in an offline storage device while still using Mycelium’s user interface to see their holdings.

Nano Ledger X

The Ledger Nano X is the second generation hardware wallet from Ledger, a French company launched in 2014. Ledger’s first cryptocurrency product, the Ledger Nano S, was one of the first hardware wallets on the market and dominated the space for a number of years. The Nano X resembles a USB drive and connects to your device via USB or Bluetooth. This means that you can connect the wallet to your iOS or Android device and do not need a computer. It supports over 1,800 cryptocurrencies. This list continues to grow each year as the Bitcoin community asks for support for their favorite cryptos. While the device itself is a cold storage hardware wallet, the Ledger team has created the Ledger Live software that provides a user interface for all your holdings. This gives users the ability to add new wallets for different cryptocurrencies to their devices and manage their portfolios. Ledger hardware wallets have been, and currently are, the most popular in the industry. The Ledger also comes with a 1 USB-C to USB-A cable so that it can be connected to either a desktop computer or a smartphone if preferred over Bluetooth.

Trezor

Trezor, like Ledger, is a name synonymous with crypto cold wallet storage. Its Model T is the second generation of hardware wallets they have created. The Trezor Model T is very much like the Ledger, but it gives the user the ability to access third-party exchanges, like Changelly and CoinSwitch, directly in its website interface. While this is quite convenient, it hardly justifies its more expensive price tag of 164 Euros. The Model T utilizes a touch screen, which can be easier to use for beginners than the buttons their previous model used. The Trezor also has a MicroSD card slot, allowing you to use MicroSD cards to encrypt the PIN and further protect your device from attacks. Like the Ledger Nano X, the Trezor Model T also comes with a USB Type-C cable so that you can connect to either your smartphone or desktop computer. Currently, the Trezor Model T supports more than 1,600 different cryptocurrencies. Some consider the Model T to be a bit more secure than the Ledger Nano X due to the X’s Bluetooth connectivity (although Ledger's Bluetooth is optional).