Top 10 Bitcoin-Only Exchanges

Introduction

Bitcoin-only exchanges are platforms the place individuals should buy or promote bitcoin utilizing fiat currencies or stablecoins.

You’ll be able to confer with our information on “How To Buy Bitcoin” for additional info on becoming a member of an alternate. Nonetheless, you often want to enroll with some primary private information and switch fiat or cryptocurrency to the platform to begin shopping for bitcoin.

Studying about Bitcoin is a vital step you need to observe earlier than investing. So you should definitely read our Bitcoin guide to totally perceive what you might be shopping for and why it’s so necessary to maintain your bitcoin protected.

Why use a Bitcoin-only alternate?

As soon as individuals perceive Bitcoin, they often prefer to avoid the noise of myriads of cryptocurrencies and give attention to Bitcoin solely.

Bitcoin-only exchanges exist as a result of they acknowledge the worth of bitcoin as sound cash; they assist the Bitcoin neighborhood and ecosystem with no distraction from inferior cash and the ensuing destructive implications which will include them.

Which bitcoin alternate is most secure?

Non-custodial, peer-to-peer exchanges are often safer as a result of custody of the bitcoin stays in your fingers. Most exchanges present high-standard safety however can’t be 100% safe in opposition to the specter of hacks. It’s at all times really useful that you just switch bitcoin to a {hardware} pockets after the acquisition to keep away from any threat of dropping your property.

Top 10 Bitcoin Exchanges

1. River is a U.S.-based, bitcoin-only custodial alternate that claims to be very straightforward and safe to make use of whereas providing loads of good academic materials to grasp Bitcoin.

River fees charges based mostly on how a lot bitcoin you purchase, ranging from 1.20% however provides no charges for recurring buys. River shops all bitcoin offline in safe chilly storage and in addition provides prospects to purchase bitcoin miners.

2. Swan is River’s principal competitor within the USA and claims to be essentially the most safe platform to purchase bitcoin. Swan supplies comparable companies to River, with the primary distinction being the charges: Swan’s are 0.99% whereas River’s begin at 1.2%. They provide recurring every day, weekly or month-to-month purchases, which they make attractive resulting from a really aggressive USD/BTC conversion fee.

3. CoinCorner is a Bitcoin alternate based mostly on the Isle of Man, Nice Britain. They’ve over 2 million customers throughout the over 45 nations they serve. Deposits and withdrawals are solely out there in kilos and euros. They’ve mounted transaction charges based mostly on the quantity processed.

Deposits are free within the U.Okay. and Europe; nonetheless, they’ve a set payment of £25 for each different area. Withdrawals price 1 GBP and 1 EUR, relying on the foreign money used. There’s no payment for depositing or withdrawing bitcoin.

4. Bull Bitcoin is a long-standing bitcoin-only alternate established in 2013 and seems to be a simple service to make use of from the beginning. There are not any frills on the opening web page, and each important info you could know in regards to the service is displayed instantly. You may as well use Bull Bitcoin to pay your payments on-line with bitcoin.

They’re broadly appreciated for his or her environment friendly buyer assist and have tiered-based transaction charges ranging from 0.5% for 100 Canadian {dollars} to CA$1,000, as much as 1.25% for quantities transacted over CA$10,000.

5. Robosats is a peer-to-peer Bitcoin alternate perfect for onboarding new customers because it’s straightforward and fast to make use of. It requires no KYC because it’s based mostly on pseudonymous avatars that permit prospects to commerce bitcoin over the Lightning Community utilizing the TOR browser solely.

Customers also can simply swap on-chain Bitcoin for Lightning liquidity. Established in early 2022, the non-custodial alternate has numerous room for enchancment, however it’s set to offer the prototype of a bitcoin-only alternate based mostly on privateness and safety.

6. Hodl Hodl is one other peer-to-peer Bitcoin alternate that additionally provides peer-to-peer lending companies. It’s a non-custodial platform that requires no KYC or AML procedures. The alternate accepts virtually all fiat currencies and lots of fee strategies to begin buying and selling, together with money in particular person and financial institution transfers.

The way in which it really works is straightforward: a contract is generated, and Hodl Hodl creates a singular multisig escrow. The vendor deposits bitcoin immediately from his pockets and agrees on a fee technique with the customer. The vendor releases bitcoin from multisig escrow on to the customer’s pockets.

7. Paxful is a Bitcoin alternate and digital pockets the place prospects also can use varied digital currencies like Tether, ether and monero to purchase bitcoin. Aside from the everyday financial institution transfers, Paxful provides a variety of fee strategies, together with present playing cards and airline tickets.

8. Relai relies in Switzerland and is Europe’s most accessible bitcoin-only funding app. It enables instant bitcoin purchases by way of SEPA fee integration, and prospects can arrange a weekly or month-to-month financial savings plan for as little as 10 EUR. Bitcoiners recognize it as a result of it requires no deposit, registration, or strict KYC process. It’s the right app for newcomers who need to purchase and HODL bitcoin as a result of it’s straightforward to make use of and supplies a hassle-free expertise.

9. Bisq is a decentralized peer-to-peer bitcoin alternate that enables anybody to purchase and promote bitcoin in alternate for fiat currencies and different cryptocurrencies. It’s not an organization however free software program that requires no centrally managed servers and has no single factors of failure.

Bisq doesn’t require private info or a linked checking account to make use of the platform, making it the right alternative for many who need to protect their privateness.

10. Cash App deserves a particular point out, though it’s not technically an alternate however a peer-to-peer fee system that enables customers to purchase and promote bitcoin solely, alongside shares.

The platform allows traders to switch bitcoin to their pockets, though withdrawals are restricted to $2,000 every day, or $5,000 inside any seven days. Money App units a payment relying on worth volatility and market buying and selling quantity, which is disclosed on the time of buy.

Ceaselessly requested questions

What’s the finest alternate for Bitcoin?

There’s no finest, however you need to be capable to discover a platform that satisfies your wants. Should you’re in search of ease of use, higher privateness or enhanced safety with a non-custodial service, you’ll discover the suitable bitcoin-only alternate for you. Simply observe our information above to have the perfect indication.

Which Bitcoin exchanges are essentially the most trusted?

Bitcoin-only exchanges, P2P platforms and exchanges that don’t rehypothecate however keep proof of reserves are typically extra reliable than centralized exchanges.

Which Bitcoin alternate has the bottom charges?

Often, fee apps like CashApp or Relai have essentially the most aggressive charges and are the best to make use of. Nevertheless, charges range loads, whether or not for withdrawals or buying and selling, so higher control the alternate’s T&C to keep away from surprises.

Abstract

New exchanges emerge repeatedly and are more and more safe and simple to make use of, so we at all times be careful for the most recent addition.

Particularly in mild of the dramatic occasions of 2022 with the collapse of many cryptocurrency companies — notably FTX, Three Arrows Capital and Celsius — it’s at all times really useful to make use of decentralized P2P platforms.

Whatever the service you’re utilizing, transferring cash out of exchanges quickly after an necessary commerce has occurred is one thing even exchanges have really useful for years, and it’s by no means confused sufficient. Such a easy switch from an alternate to a personal pockets would have prevented huge losses up to now.

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