Market volatility, exchange rates, and transaction fees are several things to consider when looking for accounts for buying and selling crypto. But that isn’t stopping people from being included. In fact, there are major opportunities for trading crypto, and the number of opportunities continues to expand. While this is obviously a positive thing (more competition means better prices), it is understandably confusing. After all, not everyone is knowledgeable yet about looking for the right accounts/online brokers to entrust your money in.
In this blog, I’ll share my favourite Accounts that I believe will help you trade securely. But before we jump right in, let’s understand the process of what we need to do before buying and selling crypto.
What to Know Before Buying and Selling Crypto
- Create a crypto exchange account with a trusted company
- Gather the important documents you’ll need to prove your identity during Know Your Customer (KYC) verification.
- Get yourself a crypto wallet.
- Make sure that you have stable and reliable internet access.
You should also be aware that some crypto, particularly Bitcoin, can be extremely volatile, with prices fluctuating significantly from one day to another. So, all things considered, never put more money into crypto than you can afford to lose.
5 Favorite Accounts for Buying and Selling Crypto
It’s time to pick an exchange and start your first crypto trade now that you have everything set up. The following are a few renowned and regulated crypto accounts for buying and selling crypto:
Coinbase is a crypto trading platform that lets you trade digital currencies like Bitcoin, Litecoin, Solana, Ethereum, and 50 other coins directly. Its simple interface allows users to buy and trade crypto in a matter of seconds. While not all types of crypto are supported in Coinbase, several of the most popular ones are there.
To get started you’ll need to:
- Be at least 18 years old
- Have a government-issued photo ID prepared,
- Have a computer or phone with fast and secured internet access
- Get the updated version of your internet browser.
Keep in mind that Coinbase fees can add up quickly, especially when purchasing modest amounts of cryptocurrency. It charges around a 0.5% markup spread and a transaction fee that varies depending on the transaction and the funding source.
If you are interested in spending, trading, storing, and saving crypto, Crypto.com is the one. This all-in-one exchange allows you to purchase, sell, and trade a wide variety of cryptocurrency at low prices.
Crypto.com, like most of the leading crypto exchanges, makes it simple to convert fiat cash into crypto. It accepts more than 20 fiat currencies, including the US dollar and the euro. You won’t have to pay a lot of money, though depending on where you live, you might be limited to fiat currencies after you register.
You can also exchange them with other DeFi wallet users. More importantly, you can use a prepaid Visa card to pay, making it an excellent alternative for crypto payments.
Newton is a Toronto-based crypto exchange. It was founded in 2018 and already supports over 70 coins, making it one of the most diverse crypto exchanges in Canada.
Newton offers a number of appealing advantages, including zero trading costs, third-party custody, rapid account verification, and low spreads. It automatically verifies your account, making the signup procedure a breeze. This is especially advantageous if you want to trade on short-term market swings because you won’t have to wait days for your account to be approved.
Newton is an excellent choice for Canadians who want to exchange crypto rapidly and with no fees. Newton is a great place to start if you’re shopping for a suitable crypto exchange.
Shakepay is a crypto exchange based in Canada. They’re known for making transactions quickly and commission-free. Shakepay, unlike other exchanges, focuses on just two cryptocurrencies: Bitcoin and Ethereum. It’s definitely one of the great accounts for buying and selling crypto. It is also accessible as an iOS and Android app in addition to their website.
Shakepay makes it simple to transfer payments to personal crypto wallets. Shakepay Change, an additional feature, allows you to buy a little amount of Bitcoin every time you buy anything with your credit or debit card.
Shakepay’s platform allows for commission-free trading. It does not charge its users any fees directly. Deposits and withdrawals in CAD and crypto are both free.
Swyftx is one of the best Australian crypto exchanges, allowing customers to create accounts for buying and selling crypto and trade over 320 different cryptocurrencies using the Australian Dollar. They’ve become one of Australia’s leading exchanges since starting in 2017. It offers a user-friendly desktop and mobile app for its users to trade on.
It includes a smooth and clean interface with the feature of a Demo Account, over 320+ cryptocurrencies to choose from, 21 coins to stake, a variety of deposit alternatives with no fees, and Live Chat Support.
It also features minimal trade costs of around 0.6%, the lowest spreads of any Australian exchange, and top-notch security, so you can buy and sell comfortably.
My Thoughts To You
It’s crucial to be aware of all of your requirements before choosing accounts for buying and selling crypto.
Crypto is a fascinating way to earn income, honestly. There are a lot of crypto platforms online that make it an appealing trading option, but prospective traders should be aware that big returns on crypto are not exactly assured. You’re more likely to lose money than to become a wealthy tycoon overnight, so remember to invest only what you can afford to lose.
Also, before you invest in a crypto, make sure you understand how it works, where you can use it, how to exchange it, and all the technical information. It’s also recommended to do some thorough research about how different coins work (Ethereum, Bitcoin, or Litecoin) to fully understand how it works too, as well as trusted articles on the crypto you’re considering.
Still, always implement an effective risk management strategy. Happy Trading!