Fiat-to-crypto exchanges offer one of the easiest ways to enter the cryptocurrency market. They allow newcomers to bypass the whole hustle of having to exchange their fiat currencies into a crypto token that will be later used in the final transaction/exchange process.
Things to Consider Before Choosing a Fiat-to-Crypto Exchange
Of course, choosing the right fiat-to-crypto exchange is easier said than done, as numerous factors need to be taken into account. Usually, one of the most important aspects when you want to choose a crypto exchange of any sort is related to the fee system. That’s because everyone would like an exchange with very low fees.
Liquidity is another significant aspect. A high level of liquidity ensures that a crypto asset or security can be quickly bought or sold in the market, without having its price affected. By picking an exchange with a good liquidity, you ensure that trading between multiple coins is fast and at reasonable prices.
You should also take a look at the limit system, especially if you want to buy a large amount. Always check to see how much you can buy on a daily basis, and what are the transaction limits. Another essential thing to check is how much you can withdraw at once.
Reputation is one of the most valuable aspects of any crypto exchange. Ideally, you’ll want to pick an exchange that has an excellent reputation within the crypto sphere, as well as to check if it is regulated or not.
Best Fiat-to-Cryptocurrency Exchanges to Use in 2019:
Coinbase
When it comes to popularity, few exchanges can compete with Coinbase, one of the world’s most accessible fiat-to-cryptocurrency exchanges. It is available in well over 30 countries worldwide, including the United States.
You can buy Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ethereum Classic, as well as other popular cryptocurrencies using more than 50 fiat currencies, such as AUD, USD, EUR, GPB, CAD, and many others. In terms of accepted payment methods, you are provided with the possibility of buying or depositing crypto via ACH bank transfers, debit cards, and wire transfers.
Coinbase Pro
Formerly known as GDAX, Coinbase Pro is designed to offer high-volume and advanced digital currency trading services to both amateur and professional traders. Coinbase Pro allows you to buy BTC, BCH, ETH, LTC, ETC, ZRX, and BAT using USD, EUR, and GBP.
The exchange is renowned for its high liquidity and for the fact that it offers competitive fees and multiple deposit options. As far as payment methods are concerned, Coinbase Pro supports ACH bank transfers, SEPA withdrawals, deposits in EUR, and wire transfers in US dollars. Another advantage of Coinbase Pro is that daily withdrawal limits begin at $10,000. Last but not least, Coinbase Pro is so secure that it has never been hacked.
LocalBitcoins
LocalBitcoins is another very good service for those who are interested in buying Bitcoins with fiat currencies. The service is available in more than 200 countries, and it allows you to trade Bitcoins in over 100 currencies.
The payment methods include cash, wire transfer, credit card, Amazon Gift card, Google Wallet, PayPal, Square Cash, and Western Union. The service connects individual buyers and sellers on the platform, which is exactly why it doesn’t charge any exchange rates.
Gemini
Gemini is currently one of the most popular cryptocurrency exchanges out there. The exchange, which is the brainchild of the Winklevoss twins, allows you to use USD to buy BTC, ETH, LTC, ZEC, and GUSD. Even though it’s New Year-based, Gemini is available in most US states (except Oregon, Arizona, Alaska, Hawaii, and Wisconsin) and various countries from other continents, such as the UK, Hong Kong, South Korea, and Singapore.
Gemini accepts USD via ACH (automated clearing house) deposits and wire transfers. Even if the exchange process and wire transfer or ACH deposits are free on Gemini, wire transfers are usually subjected to bank fees.
Kraken
Kraken is a big name in the world of crypto exchanges, as it’s one of the oldest exchanges of this sort on the market. The platform is designed to cater to the needs of most advanced transfers. It boasts excellent liquidity, fast execution speeds, decent fees, and access to some useful tools, such as margin trading.
On Kraken, you can trade some of the most popular government issued fiat currencies, such as USD, EUR, GBP, JPY, and CAD for cryptocurrencies, such as BTC, BCH, ETH, ADA, QTUM, XMR, DASH, LTC, XRP, XLM, REP, MLN, ZEC, USDT, GNO, EOS, and BSV.
As far as payment methods are concerned, Kraken accepts US payments through fiat currency and crypto. For example, US residents can deposit USD. Fees start at 0% and depend on how much you trade, being usually charged on a per trade basis and calculated as a percentage of the trader’s quoted volume.
Coinmama
Coinmama is a big name in the crypto exchange world and has since long been the go-to place for users who want to buy cryptocurrencies with a credit card. It supports USD and EUR, as well as cryptocurrencies, such as BTC, ETH, ETC, BCH, LTC, ADA, QTUM, and XRP.
The trading fee on Coinmama is 5,90%, and the deposit fee for the credit card is of 5%. Another significant advantage of Coinmama is that it’s available in more than 220 countries worldwide, and also accepts most local currencies. Accepted payment methods include Visa and Mastercard debit cards, as well as cash (via Western Union Transfer).
CEX.IO
CEX.IO is a London-based fiat-to-crypto exchange founded in 2013. It allows you to buy popular cryptocurrencies, such as BTC, BTG, BCH, DASH, ETH, XRP, ZEC, XLM, and GUSD with USD, EUR, RUB, and GBP.
Interestingly, the exchange rates of CEX.IO are based on the platform’s market activity. Even though the exchange rates can change, typically they’re within 0,5% and 2% of the mid-market rate. CEX.IO supports the following types of transfers: bank transfers, credit cards, crypto capital, vouchers, and even withdrawals to personal cryptocurrency wallets.
Conclusions
Whatever you choose from our list of fiat-to-crypto exchanges, we’re sure it will be a good choice. Furthermore, you’ll still need to take some time and do a bit of research on your own in order to find the best possible option.
Featured image: hackernoon
