Introduction
Bitcoin-only exchanges are platforms the place individuals should purchase or promote bitcoin utilizing fiat currencies or stablecoins.
You possibly can confer with our information on “How To Purchase Bitcoin” for additional info on becoming a member of an change. Nonetheless, you normally want to enroll with some primary private knowledge and switch fiat or cryptocurrency to the platform to begin shopping for bitcoin.
Studying about Bitcoin is a crucial step you need to comply with earlier than investing. So be sure you learn our Bitcoin information to completely perceive what you might be shopping for and why it’s so essential to maintain your bitcoin secure.
Why use a Bitcoin-only change?
As soon as individuals perceive Bitcoin, they normally prefer to stay away from the noise of myriads of cryptocurrencies and deal with Bitcoin solely.
Bitcoin-only exchanges exist as a result of they acknowledge the worth of bitcoin as sound cash; they help the Bitcoin group and ecosystem with no distraction from inferior cash and the ensuing unfavourable implications that will include them.
Greatest Bitcoin Solely Exchanges
1. River
River is a U.S.-based, bitcoin-only custodial change that claims to be very straightforward and safe to make use of whereas providing loads of good academic materials to know Bitcoin.
River expenses 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 likewise provides prospects to purchase bitcoin miners.
2. Swan
Swan is River’s most important competitor within the USA and claims to be probably the most safe platform to purchase bitcoin. Swan supplies related providers 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 as a result of a really aggressive USD/BTC conversion charge.
3. CoinCorner
CoinCorner is a Bitcoin change 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 fastened 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
Bull Bitcoin is a long-standing bitcoin-only change established in 2013 and seems to be an easy service to make use of from the beginning. There aren’t any frills on the opening web page, and each important info you might want to know concerning the service is displayed instantly. You too can use Bull Bitcoin to pay your payments on-line with bitcoin.
They’re extensively appreciated for his or her environment friendly buyer help 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
Robosats is a peer-to-peer Bitcoin change ultimate 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 change has lots of room for enchancment, however it’s set to offer the prototype of a bitcoin-only change based mostly on privateness and safety.
6. Hodl Hodl
Hodl Hodl is one other peer-to-peer Bitcoin change that additionally provides peer-to-peer lending providers. It’s a non-custodial platform that requires no KYC or AML procedures. The change accepts nearly all fiat currencies and plenty of cost 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 novel multisig escrow. The vendor deposits bitcoin straight from his pockets and agrees on a cost methodology with the client. The vendor releases bitcoin from multisig escrow on to the client’s pockets.
7. Paxful
Paxful is a Bitcoin change and digital pockets the place prospects also can use varied digital currencies like Tether, ether and monero to purchase bitcoin. Aside from the standard financial institution transfers, Paxful provides a variety of cost strategies, together with reward playing cards and airline tickets.
8. Relai
Relai relies in Switzerland and is Europe’s most accessible bitcoin-only funding app. It permits immediate bitcoin purchases via SEPA cost integration, and prospects can arrange a weekly or month-to-month financial savings plan for as little as 10 EUR. Bitcoiners admire it as a result of it requires no deposit, registration, or strict KYC process. It’s the proper app for novices who wish to purchase and HODL bitcoin as a result of it’s straightforward to make use of and supplies a hassle-free expertise.
9. Bisq
Bisq is a decentralized peer-to-peer bitcoin change that permits anybody to purchase and promote bitcoin in change for fiat currencies and different cryptocurrencies. It isn’t 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 proper selection for many who wish to protect their privateness.
10. Money App
Money App deserves a particular point out, though it’s not technically an change however a peer-to-peer cost system that permits customers to purchase and promote bitcoin solely, alongside shares.
The platform permits buyers 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 value volatility and market buying and selling quantity, which is disclosed on the time of buy.
Continuously requested questions
What’s the finest change for Bitcoin?
There’s no finest, however you need to be capable of discover a platform that satisfies your wants. If you happen to’re in search of ease of use, higher privateness or enhanced safety with a non-custodial service, you’ll discover the best bitcoin-only change for you. Simply comply with our information above to have one of the best indication.
Which Bitcoin exchanges are probably the most trusted?
Bitcoin-only exchanges, P2P platforms and exchanges that don’t rehypothecate however preserve proof of reserves are usually extra reliable than centralized exchanges.
Which Bitcoin change has the bottom charges?
Often, cost apps like CashApp or Relai have probably the most aggressive charges and are the best to make use of. Nonetheless, charges differ so much, whether or not for withdrawals or buying and selling, so higher keep watch over the change’s T&C to keep away from surprises.
Which change is the most secure?
Non-custodial, peer-to-peer exchanges are normally 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 towards the specter of hacks. It’s all the time really helpful that you simply switch bitcoin to a {hardware} pockets after the acquisition to keep away from any danger of shedding your belongings.
Abstract
New exchanges emerge repeatedly and are more and more safe and straightforward to make use of, so we all the time be careful for the newest addition.
Particularly in gentle of the dramatic occasions of 2022 with the collapse of many cryptocurrency providers — notably FTX, Three Arrows Capital and Celsius — it’s all the time really helpful to make use of decentralized P2P platforms.
Whatever the service you’re utilizing, shifting cash out of exchanges quickly after an essential commerce has occurred is one thing even exchanges have really helpful for years, and it’s by no means pressured sufficient. Such a easy switch from an change to a non-public pockets would have prevented large losses prior to now.
