How To Buy Cryptocurrencies in US?
Cryptocurrencies in general and Bitcoin in particular, soared through the roof in terms of market value in late 2017, inspiring people all over the world to start investing in them. Although the price has come down quite a bit since then, this also presents the perfect opportunity to start trading in cryptocurrencies because it would not be an exaggeration to say that the eventual rise of market value is nearly an inevitability down the line for cryptocurrencies. However, since there are so many options these days on the internet and yet so little information that can be considered to be a decent guide towards buying cryptocurrencies in the US, it is easy to get confused and make mistakes if you are not used to how everything works. To help make the beginner’s route a little less complicated, here are some of the easiest ways to buy Bitcoin and other cryptocurrencies in the United States.
Arguably the most popular cryptocurrency exchange for users in the US, Coinbase is a first timer friendly exchange for Bitcoin, Ethereum and various other cryptocurrencies. While the fees and policies are subject to change, check some of the important details below to know what to expect.
- 3.99% fee if you use a credit/card (instant transfer of cryptocurrency)
- 1.49% if you pay by linking a US bank account (up to five days for the transfer to go through)
GDAX is a subsidiary exchange by Coinbase and for users in the US and Europe, it is the ideal option because the exchange actually charges 0% maker fee and a meagre taker fee that ranges between 0.1% – 0.3%. Unfortunately, GDAX has one major con that can be quite problematic for the new traders; the UI is not easy to navigate without previous experience or some time to get used to it. It isn’t as complicated right now as it used to be, but GDAX still isn’t the most user-friendly crypto exchange in the US! Nevertheless, the almost non-existent fee structure makes GDAX a very viable option that’s worth getting used to.
Wall of Coins
Reputed internationally for how easy it makes purchasing cryptocurrencies with cash, Wall of Coins is actually an escrow service that operates in the US, UK, Canada, Australia, Brazil, Argentina, Mexico, Poland, Germany, Latvia, Romania, The Philippines and a bunch of other nations as well. While it isn’t ideal for high volume transactions, the privacy, ease of use and a low fee rate (1% – 2%) makes Wall of Coins a viable choice for users in the United States.
CEX.IO has the advantage of being a reputed and verified international exchange with just a 0.2% trading fee, but it’s dedicated to Bitcoins primarily. CEX.IO also supports ACH and SEPA transfers, AstroPay, cash and credit/debit card transactions for immediate transfer of Bitcoins. If you don’t have problems sharing a great deal of personal info and even a photograph for the verification process, then CEX.IO could be the perfect option for users in the US.
There’s More to It than Just the Exchange
While finding an exchange that’s suitable for the user is a mandatory step, you won’t know what to do with your coins unless you receive up to date crypto news throughout the day. Whether you are a newcomer or an experienced party, your success rate depends heavily on how updated you are with the market and everything that is going on in there. Coins.Live provides that opportunity to its subscribers by keeping them constantly updated with the latest prices, updates and news related to the cryptocurrency market.
Interpretation of such information and subsequent action are two things that will take time for a new trader to learn properly, and it isn’t easy, but keeping up to date with crypto news is definitely worth doing.