A bitcoin exchange is a location where you can exchange cash for bitcoin.
The most common bitcoin exchanges can be found online; however there are bitcoin exchanges that allow you to trade cash for bitcoin in person. We will take a closer look at each of these two bitcoin exchange options below.
What Is An Online Bitcoin Exchange?
An online bitcoin exchange is a crypto broker who is willing to sell you bitcoin online. Online Bitcoin Exchange usually let you buy bitcoin with a credit card or bank transfer. Some online bitcoin exchanges actually allow you to buy bitcoin with cash (although this is not always the case).
Buying bitcoin through an online bitcoin exchange may be the fastest way to buy bitcoin depending on where you live.
There are many online bitcoin exchange options available. No matter where you are in the world, there is an online provider available to sell you bitcoin.
When choosing which online bitcoin exchange is right for you, there are a few things you may want to consider.
1. The rate – Each bitcoin exchange provider can offer a different rate for their bitcoin. It may be a good idea to shop around to find a good exchange rate. Understanding that prices in bitcoin fluctuate quickly, so don’t shop to long.
2. Security – Most bitcoin exchange providers offer you the ability to store your bitcoin on their online wallet system. We suggest storing your bitcoin offline in cold storage; however if you decide to leave your bitcoin on the exchange wallet… the security for that exchange will be important to you. Look for an exchange that has in place the security measures to keep your investment safe.
3. Alt Coin availability – Once you get involved in bitcoin, you may find a desire to invest in other crypto currencies as well. Choosing an exchange that offers additional options for investing in other cryptocurrencies may be a key when considering which bitcoin exchange to use. This piece could drastically cut down on any unnecessary accounts down the road.
What Is An Offline Bitcoin Exchange?
An offline bitcoin exchange usually refers to a location where per-to-per or person to person exchanges are made in real time.
This form of bitcoin exchange is a little more rare, but can range from a friend selling his bitcoin all the way up to resembling the floor of the New York stock exchange.
Your location in the world will play an important part in whether or not an offline bitcoin exchange is available in your area.
Top Online Bitcoin Exchange Options
1. Coinbase
2. Bittrex
3. Changely
4. Coinmama
5. Cex.io
Top Offline Bitcoin Exchange Options
1. LocalBitcoins