Most people have heard of cryptocurrency at this point. It’s really popular and can even be called the latest trend since millions of people who are currently interested in it will lose the fascination once it becomes little more normalized. However, it’s almost impossible to try to differentiate someone genuinely interested in the market from someone who’s just following the trend when they’re inexperienced. There’s also the problem with cryptocurrency just being difficult to really explain properly, unlike stocks. Along with the basic background being hard to explain, cryptocurrency has also caused the creation of several new terms and has surfaced other terms that have been practically unused for ages.
One such term is “fiat.” Fiat money is any currency that doesn’t have intrinsic value but is only valuable because its government declares it as legal tender or if two individuals exchanging it agree on its value. Dollar bill is fiat money; gold is commodity money, and bond is representative money. Of course, fiat money is the most common of these three, and it is often traded for commodity money by wealthy individuals wishing to avoid dealing with inflation of fiats.
Anyone just getting into crypto would probably have the very basic first question of how to convert fiat money into cryptocurrency. In this article, I will be discussing what are – in my opinion – the top 5 fiats to crypto buying platforms to open an account.
This exchange was created all the way back in 2013, which is positively ancient in cryptocurrency times. It’s one of the biggest exchanges on the market currently and is very easy and convenient to use. I don’t really have any complaints about CEX.IO as it offers exciting features, bonuses, and rewards as well, all while keeping its UI simple for beginners.
Coinbase is one of the biggest, if not the biggest, Bitcoin exchanges in the world, uncontested. It’s very, very secure, is very user-friendly and therefore pretty good for newcomers, has good chunk of features, and has very well-balanced feature set between its free and premium version. The support for hundreds of tokens is what makes this platform great.
Highly reputable and experienced, eToro is the global cryptocurrency exchange platform. What makes it appealing to investors is that it has never suffered any security breach, despite undergoing near-constant DDoS attacks. It also has lots of social trading features, including copy-trading. They have very well-designed app and relatively user-friendly.
I almost went in unfollowing Binance on Instagram, given how much social marketing it does. Binance is arguably the largest-growing cryptocurrency exchange and the best as well. Binance is very professional, secure, quick, and just overall offers an amazing experience. Binance also features its own Binance Coin (BNB), offering rewards and prizes.
This one may not be as popular as some of the other names on this list, but I included it because of its reputation among the people who do use it. It’s very, very secure, has pretty good fees and pricing structures, has also never had security leaks, and the whole platform and most of the higher-ups in it are all involved with very complex finance legislation.
I hope this article and enlistment helped you decide your ideal fiat to cryptocurrency buying platform if you are planning on investing your fortune in blockchain. Of course, just for reminding our readers that this article, not its author endorse cryptocurrencies or finance, in general, and anything contained in this article should be treated as an informative piece of content only and should not influence your financial decisions. This marks the end; Catch you in the next one!