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Best Bitcoin Companies to Buy Bitcoin From

Best Bitcoin Companies to Buy Bitcoin From

In many cases, we can give you a definitive list of the very best companies, banks, credit cards, and much more. We have not been able to do this for the best bitcoin companies to buy bitcoin from. The reasons are varied, such as how the companies keep changing hands, or such as how we have had them drop out of existence while we were actually writing about them. What is probably the most damning is that we have had other online reviewers directly contradict the results we came up with, and we are not 100% sure we are correct in this case. Since we cannot be sure which are tops and which are terrible, we have listed all the bitcoin sellers we have checked out, and we have come up with pros and cons for each.

247Exchange

Pros

  • Relatively low fees
  • Delivery of bitcoin is prompt
  • There are quite a few payment methods they support

Cons

  • Complain and they will delete your account without replying
  • They want epic amounts of personal information
  • Customer service is lacking to the point of absent

BitBay

Pros

  • Low costs for SEPA zone users
  • Reasonably good customer support
  • Appear to be security conscious, albeit in an uptight way

Cons

  • Low liquidity
  • The website’s performance is lacking
  • No margin trading or short selling

Bitfinex

Pros

  • Low fees and high USD liquidity
  • Has a lending market and offers margin trading
  • They solved their hack problems with clever innovation

Cons

  • Lost a lot of its customers when it was hacked
  • May be a while before bigger customers come back
  • Not a very transparent company

BitPanda

Pros

  • Reasonably low fees if you are buying with a credit card or debit card
  • Verified members are able to buy very quickly
  • Mostly trusted by eastern traders

Cons

  • Fees are hidden until the final moments before purchase
  • There is an issue with privacy and where your information goes
  • Only people in Europe are currently able to use it

BitStamp

Pros

  • A good reputation and the website is easy to use
  • Offers a quick way to get bitcoin
  • High liquidity and volume

Cons

  • Fees are on the higher side
  • Could use more cryptocurrency options
  • Needs to update its image

Bittrex

Pros

  • Verification is heavy handed but demands less disclosure of personal information
  • Not a bad place for low volume trading
  • Security is quite impressive

Cons

  • The company needs more support staff
  • Verification takes a little longer than it should
  • Confusing website for newbies

BTC Markets

Pros

  • It is a big company and the top bitcoin exchange in Australia
  • Handy local depositing options for Australian users
  • The fees are about average

Cons

  • They keep having liquidity problems with AUD/BTC
  • Still has higher fees that most US based exchanges
  • Their claim of 100% reserves is unproven

CEX

Pros

  • They allow you to pay with a credit card
  • A high trading volume and great support
  • It is a well established and reputable company

Cons

  • High fees for using credit cards are annoying
  • Verification process is a bit demanding
  • Deposit and withdrawal fees are mean spirited

Coinbase

Pros

  • Is easy to use and has high liquidity
  • Easy for new users to use
  • Supports PayPal and credit cards

Cons

  • Puts its investors before its customers
  • The withdrawal and deposit fees are mean spirited
  • They have violated people’s privacy in the past

CoinExchange.io

Pros

  • Offers a fair number of altcoins
  • Customer support is better than most
  • Low fees and a fairly active community

Cons

  • Signing up is tricky and sometimes requires more than one try
  • The website needs an update to make it more easily usable
  • Lags occur in the weirdest places

Coinhouse.io

Pros

  • Accepts debit cards and credit cards
  • Fees are the sexiest type of transparent
  • Easy to use for intermediates

Cons

  • Comparatively high fees for lower trades
  • Their prepaid card support is not great
  • Almost exclusively for Europeans

Coinmama

Pros

  • Reliable and still trusted despite mixed reviews
  • Works in many different countries
  • High limits if you are buying bitcoin with a credit card

Cons

  • Fees on the higher side
  • Debit and credit card fees are higher than most brokers
  • A mixed reputation and a few privacy issues

Cryptonit

Pros

  • Relatively trustworthy
  • Plenty of cryptocurrencies to choose from
  • They allow you to use numerous deposit tools that include PayPal

Cons

  • Customer support is a little lacking
  • Low liquidity at the moment
  • Prices are higher than normal for some deposit methods

Cryptopia

Pros

  • They allow you to try arbitrage and they have multi-level security
  • Verification is a little easier than usual
  • They have over 400 tradable cryptocurrencies on offer

Cons

  • They will not allow direct fiat currency to bitcoin currency exchanges
  • The website is rather confusing
  • Many marketplace goods are dramatically overpriced

Gemini

Pros

  • Gives you access to your currency before you have even paid for it in some cases
  • The speed at which you buy is one of the fastest on the net
  • Quick by and quick sell very easily

Cons

  • Withdrawal takes longer than many exchanges
  • Only accepts USD deposits
  • Some users have found their accounts locked without a good explanation

Genesis Mining

Pros

  • May offer a good way to get cryptocurrency without paying over the odds
  • Ordering is relatively simple
  • The verification process is as easy as it gets

Cons

  • Mining options are not as varied as their website makes it seem
  • You have to sign up for a minimum of a 2-year mining session
  • Very difficult to trust this company when it demands such a large commitment

HitBTC

Pros

  • They have a reasonably high trading volume
  • There is a demo mode so you may try it out first
  • Security from outside hackers is rather good

Cons

  • They have rather high fees
  • Getting verified s overly difficult
  • It takes much too long to be fully verified

itBit Trust

Pros

  • Competitive fees and good liquidity
  • They keep their bitcoin in cold storage
  • Federally regulated and available in 50 US states

Cons

  • Deposits with ACH transfers are not possible
  • Not as sophisticated as a federally regulated exchange should be
  • No short selling and no margin trading

Kraken

Pros

  • They support margin trading
  • Great liquidity within the Euro markets
  • They offer comparatively lower fees

Cons

  • Volume lags with bitcoin to USD
  • Still has uptime problems
  • Has very poor support

LakeBTC

Pros

  • Allows you to convert with various types of fiat currency
  • Their fees are reasonably competitive
  • Security has improved recently

Cons

  • Their competitors keep beating them
  • There are just not enough trading options
  • Fees and so un-transparent that they are as good as hidden

LocalBitcoins.com

Pros

  • You do not have to have ID verification to buy
  • A private marketplace that is very fast
  • Easy to use and easy to understand too

Cons

  • Seems to be a magnet for rude and arsehole traders
  • Need at least 0.05 bitcoin if you wish to sell as a trader
  • People looking for larger amounts of bitcoin may be disappointed

Paxful

Pros

  • Allows you to buy and sell and allows you to sell smaller amounts
  • Set up adverts where you make offers for people to buy from you
  • You are able to buy with PayPal if you wish

Cons

  • The website is a magnet for immoral traders
  • You have to play it very cautiously to avoid traders scamming you
  • Not as transparent as some of the other bitcoin marketplaces

Poloniex

Pros

  • Allows margin trading of altcoins
  • High liquidity
  • Plenty of cryptocurrency choices

Cons

  • Seems to be swimming with pump and dump
  • A slow trading platform when compared to most others
  • Customer support needs improving

Quadrigacx

Pros

  • Great for large volume trading
  • Local deposit options are there for people in Canada
  • Average and unoffensive fees

Cons

  • Verification is slow in a silly way
  • Mostly for people in Canada
  • Even unverified registration can take up to 4 days before approval is given

VirWox

Pros

  • Allows you to buy with PayPal
  • Simple and with no ID verification
  • Easy to use and relatively intuitive

Cons

  • The outward appearance of the website is old fashioned
  • It needs a serious update to help it look modern
  • You have to buy SLL before you buy bitcoin

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

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