If you're considering an initial investment into cryptocurrencies or simply looking for a new broker, we have compiled  a list of the top 5 companies with an emphasis on:

FEES

Customer Service

Wallet Security

Available Coins

Ease Of Access

Investor Education

Understanding what an individual investor values most was pinnacle in deciding which attributes to rank these companies for. After vetting nearly 20 exchanges we have decided on the top 5 Cryptocurrency exchanges and brokerages to trust your money to. These 5 are:


1.BitcoinIRA

2. CEX.IO

3. eToro

4. Paxful

5. Changelly



*Bonus* 

Kraken and Gemini



Firstly, if you are a beginner to crypto investing, it can seem like a difficult task to even get started. Knowing where to begin and what values to carry into your investment will play large roles in your selection process. For this reason we will give a brief introduction on how to invest in cryptocurrency and where to start. Following that you will have the option to research and conclude on your best fit by reading our detailed reviews and ultimately visiting these websites for your self.


Lets get started....


Bitcoin IRA Logo

BitcoinIRA Crypto Investment

93% Overall

Alternative IRA Services (“AIS”) operates under the BitcoinIRA brand name. Bitcoin IRA is described as the world’s first, largest, and most secure cryptocurrency IRA platform. It has over 75,000 account holders. Bitcoin IRA was founded in March 2015 and is based in Sherman Oaks, CA.

95%
Fees
84%
Coin Options
96%
quality
90%
Customer Service
97%
Security
86%
cost
Cex.io horizontal logo with text

CEX.IO Crypto Investment

92% Overall

CEX.IO is best for individuals and businesses That are searching for various cryptocurrency products like staking, crypto-backed loans, margin trading, and order execution tools. It can be argued that the platform is better for token traders because of the limited coin offering.

91%
Fees
85%
Coin Options
97%
User Interface
95%
Customer Service
91%
Security
94%
Trading Platform
Etorro main logo horizontal green text

eToro Crypto Investment Platfrom

92% Overall

For cryptocurrency investing, you can have access to the platform of serious crypto traders, eToro’s social trading platform has a very attractive offer. With over 20 cryptocurrencies to buy and trade.

99%
Fees
83%
Coin Options
92%
User Interface
95%
Customer Service
91%
Security
96%
Trading Platform
Changelly logo with dark font and green rocket

Changelly Crypto Investment

89% Overall

Changelly is an online cryptocurrency exchange where you can buy and exchange crypto with crypto. The exchange sells over 160 cryptos and has recently added the ability to buy Ripple with a credit or debit card. (XRP) in USD or Euro with a credit or debit card. The exchange offers transparent transactions at the market rates and places no limit on how much cryptocurrency you can buy at one time.

Since company claims cannot always be trusted, we sought to find out if Changelly offers the best price. We conducted an in-depth review of fees, features, and pros and cons to assess whether crypto buyers are benefiting from a good deal. We think you'll like what we found.

88%
fees
81%
trading platform
87%
customer service
90%
user interface
91%
security
94%
coin options
Paxful logo with slogan "money your way"

Paxful Crypto Investment

83% Overall

Paxful is a decentralized Bitcoin exchange where buyers and sellers are paired up, peer to peer (P2P). Similar to the company LocalBitcoins, Paxful powers individuals to buy Bitcoin direct from other sellers using a high number of payment options. Paxful doesn't require users to submit personal identifying documents beside an email address. Meaning that transactions can take place with near anonymity. This offers Paxful users a great deal of freedom, but it also means that Paxful users are investing money into an unregulated exchange. Moreover, Paxful rates can be high. Paxful has been in operation for several years and while they still offer utility to users around the world, greater competition in this space is eliminating reasons why one might use Paxful. We have given the exchange a fair analysis in this Paxful review, but generally we would recommend other options for Bitcoin purchase. Today, even a Bitcoin ATM can offer more security and, usually, a better price. For investing, more novel options like eToro can save the user money, with much added security.

100%
fees
99%
trading platorfm
75%
customer service
88%
user interface
90%
security
82%
coin options

*Bonus*

Kraken Logo Purple

Kraken Crypto Investment

90% Overall

Kraken enables you to exchange fiat currencies like the USD, Canadian Dollar, Euro, and GBP into cryptocurrency coins. You can also exchange from one cryptocurrency into another. There are over 60 cryptocurrencies available on Kraken for buying and selling via fiat currency or exchanging.

Kraken is one of the first crypto trading platforms  and they have an above average number of coins and tokens to trade and invest in. They also allow margin trading. However, it's a real exchange, and not as easy to use as some of the other exchanges on the list. 

Kraken is one of the few platforms on this list that allow you to trade in DOGE and other, more risky, tokens.

84%
fees
75%
Trading platform
87%
customer service
60%
user interface
88%
security
35%
coin options
Gemini logo purple with black font

Gemini Crypto investment

89% Overall

Gemini is touted as the most secure cryptocurrency exchange. Security is its main focus and monetization point. It is a U.S. based company and the platform is more simple than most. If your crypto trading is mostly in popular currencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, or Zcash, Gemini will be a great fit.

86%
fees
85%
trading platform
94%
customer service
89%
user interface
86%
security
89%
coin options
popular cryptocurrencies lined up

How To Invest In Cryptocurrency 

Investing in crypto is similar to investing in stocks, except far more volatile because of the daily swings. Here are the steps to invest in Cryptocurrency from the beginning:


  • Open a brokerage account at a firm that allows crypto investments and trading.
  • Deposit funds from your bank into the brokerage account or wallet.
  • Buy a coin using deposited funds (cash balance).
  • Later sell the coin(s) for a gain or loss. Funds are returned to your cash balance.

With Crypto coins, the above flow is similar in most cases but it depends on the exchange or trading platform. In some cases, you can buy BTC or other coins using your credit card or by transferring funds from your bank account.

For other platforms, you must transfer BTC directly. This is known as a direct deposit of BTC.

We’ll discuss how to invest in BTC for citizens in the U.S.A. The methods vary across most countries as a cause of differences in laws and regulations. Some countries require more private information than others to verify you're identity and overall legitimacy. 

How To Deposit USD To Buy Bitcoin And Crypto

There are many different options when choosing how and where to purchase your coins. The exchange or brokerage makes all the difference in the how and where. For this example we will use Coinbase.

Start by opening a Coinbase account and link your bank account or credit card. You will need to verify your identity which can take anywhere between 1-48 hours. Then transfer funds from your bank account to purchase Cryptocurrencies or purchase using your credit card. Credit card purchases of any crypto are the most expensive.

The mechanics of purchasing these currencies involve entering a USD amount or a BTC/ETH amount. The website will then convert the other currency based on the current market price.

For example, if you enter in 500 USD, the website will fill in the BTC side with 0.0357 (or what ever the current BTC exchange rate is).

Once you have the amount filled in, click to purchase your BTC. While credit card transactions cost the most, they are also the fastest to complete BTC transactions. 

Bank accounts can take up to a few days. Keep in mind that you will get the exchange rate at the time you purchased BTC. 

If BTC goes up 1000 by the time your transaction completes three days later, you’ll miss out on the rise. It helps to have some technical investing skills in this aspect of the buying process. Do not let that scare you away. The volatility of all crypto cannot be time weighted by even the most experienced investor. FOMO or fear of missing out is not something we recommend buying into. There is always going to be another opportunity.

Where exactly does the BTC you’ve purchased go? After all, you haven’t invested it yet. Your BTC sits in what’s called a digital wallet. Most all exchanges have their own wallet that you use to contain your BTC. These wallets are attached to personalized codes which are stored used to perform transactions on your behalf. These codes are all unique to you and your digital wallet.

Going back to the brokerage example, your cash balance is used to trade stocks. BTC in your wallet is used to trade BTC.

What about your USD?

Your wallet has a space for BTC and USD. If you deposit 10,000 USD and buy 5,000 USD of BTC, your wallet will look like this:

5,000 USD

0.34    BTC

Wallets have been a hot topic of discussion when talking about cryptocurrencies. We won’t go into massive depth with them but you can use a stand-alone wallet if you don’t want to use the exchange’s wallet. Some investors like the platform but worry about cyber security or customer service and would rather use the platform to invest, but sequentially store their currencies in an independent wallet.

Once you’ve deposited funds with the exchange of choice and purchased BTC, you’re ready to invest. Trading platforms on the exchanges look very similar to brokerage platforms for stocks and options.

You’ll have a chart and buy/sell buttons with the amount of whichever coin to trade.

Some exchanges will only allow you to trade a certain kind of coin. These have been referred to as base coins. The most popular being Bitcoin and Ethereum.

When trading in BTC, you can exchange into other cryptocurrencies, which is another method for selling BTC. Or you can exchange out of another cryptocurrency and into BTC, which is the same as buying BTC.

Direct Deposit Of BTC

In the case that the exchange doesn’t allow purchasing BTC by transferring funds or using a credit card, you can deposit BTC from another exchange.

This is done by getting your wallet address from the target exchange. Then enter it on the source exchange along with the amount of BTC to transfer to the new exchange.

This process can be complicated and we do not recommend this.

Starting with the right brokerage/exchange will eliminate this step entirely. 


 

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