The Top 10 Bitcoin And Crypto Investing Sites

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Updated: August 15, 2020

By

Dylan Harrison

At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. This doesn’t influence our evaluations or reviews. Our opinions are our own.

Investing in Bitcoin is all the rage but how exactly does a beginner get started?

Do you need to already have Bitcoin to invest?

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 popular websites for investing in Bitcoin.

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.

Bonus Offer: Robot44trade is currently offering an amazing promotion where you can get $250 in BTC if you open an new account with $100 and meet qualifying criteria. Open an account here >>

Robot44trade also got featured on the U.K news channel few months back and i was dazzled. I was curious to invest and check them out at their head office. I was very skeptical but after been paid 4 times i trusted them. Funny how they use a bot to trade, i find that quite weird but hey I'm getting profits so who cares, lol I use other investment companies but robot44trade seemed to have the best customer care service and comes with huge bonuses, funny how they trade with a robot but i get super excited when my withdrawal date gets closer. Need further assistance? Check them out here

A snapshot of the uk news

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Top 10 Bitcoin and Crypto Investing Sites

1. Coinbase

2. Gemini

3. Robot44trade

4. Kraken

5. Robinhood

6. eToro

7. Bitcoin IRA

8. Crypto.com

9. Binance

10. Hodlnaut

1. Coinbase

2. Gemini

3. Robot44trade

4. Kraken

5. Robinhood

6. eToro

7. Bitcoin IRA

8. Crypto.com

9. Binance

10. Hodlnaut

How To Invest In Bitcoin

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

Open a brokerage account at a firm that allows crypto investments

Deposit funds from your bank into the brokerage account.

Buy a stock using deposited funds (cash balance).

Later sell the stock for a gain or loss. Funds are returned to your cash balance.

The main difference with BTC is for step three; you buy BTC or another cryptocurrency instead of stock.

With BTC, the above flow is similar in most cases but it depends on the exchange or trading platform. In some cases, you can buy BTC 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 US citizens. The methods vary across countries because of differences in laws and regulations. Some countries require more private information than others to verify you are legitimate.

How To Deposit USD To Buy Bitcoin And Crypto

Coinbase is one of the most popular platforms and has a straightforward process. Some of the mentioned websites below will follow this same process. We love Coinbase because you get $5 if you open an account.

With Coinbase, you open a Coinbase account and link your bank account or credit card. Then transfer funds from your bank account to purchase BTC or purchase using your credit card. Credit card purchases of BTC are the most expensive.

The mechanics of purchasing BTC involve entering a USD amount or a BTC amount. The website will then convert the other currency.

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.

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.

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 are a big topic of discussion when talking about cryptocurrencies. We won’t go into depth with them but you can use a stand-alone wallet if you don’t want to use the exchange’s wallet. Electrum.org is one example of a stand-alone wallet. This can be desktop, mobile or website based.

You can even use a hardware wallet such as LedgerWallet.com.

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.

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

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.

The transaction takes a few minutes for the exchanged BTC to appear in the target wallet.

If you need further assistance please reach out to me here

A young vibrant forex/bitcoin investment trader. Enthusiastic about how the crypto market works and much more happy to help

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