Are you a beginner searching for the best and easiest crypto exchanges to buy Bitcoin? In this post, we will be covering a few of them.
Bitcoin remains the most popular cryptocurrency in the world and also the number 1 in terms of market capitalization. Bitcoin was created in 2008 by a person or group of people under the pseudonym Satoshi Nakamoto.
It is a “Peer-to-Peer Electronic Cash System” as stated in the white paper released when it launched. Since its inception, thousands of altcoins have been created and each of them boasts of faster transactions and lower gas fees, however, Bitcoin is still the go-to digital asset, especially for beginners.
Bitcoin Pros and Cons
Pros
- Bitcoin is the first cryptocurrency launched, thereby giving it an edge over other altcoins
- Bitcoin has a growing community and market appeal
- Other altcoins measure their value against Bitcoin
- Bitcoin has high liquidity
Cons
- Bitcoin’s network capacity is limited
- Newer cryptocurrencies have a wider use case and features
- Has a moderate transaction fee
Brief History of Bitcoin
Bitcoin was initially revealed to the public in an October 2008 whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” by an unknown creator (or group of inventors) Satoshi Nakamoto. This whitepaper also informed the world about the blockchain, the network backbone of Bitcoin.
In May 2010, the first real-world product was purchased using Bitcoin when one person paid another person 10,000 Bitcoins for the delivery of two pizzas valued at $25 USD. Bitcoin’s price has varied dramatically over the last decade, peaking at roughly $20,000 USD in 2017. 10,000 Bitcoin were worth more than $100,000,000 USD in December 2019.
Bitcoin has a maximum supply of 21 million. At press time, there are 19,389,912 (19.3 million) BTC in circulation. Because of its scarcity, as well as the fact that all other cryptocurrencies are compared to Bitcoin, some have dubbed Bitcoin “digital gold.”
Best Cryptocurrency Exchanges to Buy Bitcoin
Below are some of the best and easiest cryptocurrency exchanges to buy Bitcoin.
- Binance
- Coinbase
- Kucoin
- Kraken
- Huobi
How to Buy Bitcoin
Bitcoin may be bought, sold, and traded on a variety of exchanges. You can pay using a variety of methods, including bank transfers in standard currencies and credit cards. You will have Bitcoin in your exchange wallet after purchasing Bitcoin.
If you do not intend to trade with your Bitcoin, we highly advise you to remove it from the exchange wallet. The best approach to preserve your Bitcoin is to keep it in a non-custodial wallet or a cold storage hardware wallet, such as a Ledger Nano X.
