Bitbuy vs Coinbase: A Look at Two Popular Cryptocurrency Exchanges
Individuals across the globe are looking to diversify their investment portfolios and safeguard their futures. Stocks, bonds, and real estate remain popular choices today when it comes to investing. However, countless men and women are now researching cryptocurrencies to see if they would be a good asset to own during trying times.
Once it has been determined a person wishes to invest in cryptocurrency, they must determine which currency to buy. With many choices today, a person may become overwhelmed and decide to invest their funds elsewhere.
Bitcoin and Coinbase remain two of the most popular exchanges today, making them a good choice for investors. However, they must then look at Bitbuy vs Coinbase and decide which to use. The following information becomes of great help when making this decision.
Among the largest of Canada’s cryptocurrency exchanges, Bitbuy only serves residents of this country. However, this hasn’t held the company back, as it currently has hundreds of thousands of investors. Furthermore, it continues to grow as more people learn about the benefits of cryptocurrency. The simple user interface makes this exchange ideal for beginners and experienced traders. This crypto exchange platform launched in 2016 and now serves as one of the most trusted crypto exchange platforms in the country. What are the benefits and drawbacks of Bitbuy investors must be aware of?
The company has strict compliance rules in place, which many users appreciate. They love how easy the platform is to use and enjoy having access to the company’s mobile app when they are on the go. In addition, Bitbuy serves as the only Canadian exchange today that offers 1:1 insurance on Bitcoin.
The Drawbacks of Bitbuy
At this time, Bitbuy only offers nine cryptocurrencies. Many investors prefer to have more options. In addition, the exchange only serves residents of Canada.
Coinbase stands alone as the most popular cryptocurrency exchange today. It continues to maintain the largest user base, which may be due to its ten-year tenure in the industry. When a new coin appears on the exchange, its value instantly skyrockets. Individuals new to investing in cryptocurrency love how easy it is to use the platform, and they can set up an account and begin trading in little time. This helps to explain why people across the globe are aware of this exchange and why it tends to be the first that comes to their minds.
The Benefits of Coinbase
Coinbase maintains an excellent reputation among investors, which is why most people trust the exchange. They appreciate the security measures put into place by the exchange, as they know no other platform does more to secure their assets. Furthermore, they have a large number of cryptocurrencies to choose from.
The Drawbacks of Coinbase
However, Coinbase users pay more in fees than users of many other exchanges. Furthermore, the fees confuse many people. Before choosing this exchange, learn how fees are calculated and ensure you feel comfortable knowing how much you will pay for different transactions. In addition, recognize you can only complete transactions on the platform using a debit card or PayPal.
Choosing a cryptocurrency exchange remains a personal decision. Consider all options to find the right platform for your needs. Americans often prefer Coinbase while Canadians appreciate having access to Bitbuy. However, both platforms have numerous advantages that should be considered before you invest your funds in cryptocurrency, as the goal is to grow your wealth while protecting your assets. Both sites help with this goal.