How To Buy Bitcoin? - Bitcoinik

When you read about how to buy bitcoin you will come across many platforms and exchanges that provide services. Every exchange is different from others and provides a different set of features.

Before choosing an exchange or platform there are some benchmarks you should check.

Liquidity

Liquidity means the trading volume of a pair. The higher the liquidity the easier and faster your orders filled and you can buy and sell large quantities also. Big exchanges generally have good liquidity and hence there is a very low difference in the buy and sell price. The above-mentioned exchanges have high liquidity and you can buy from any of them according to your payment method and country. If you trade on a low liquidity exchange there are many chances that your orders will not fill completely and there is also a huge buy and sell difference.

Security

Security is one of the major concerns of the cryptocurrency market. You will hear about the biggest hack of MT. Gox exchange in which more than 800,000 Bitcoins are stolen.

You should choose a platform that offers different types of security features like 2FA, Email verification, OTP confirmations, etc. All the exchanges mentioned in the post are highly secure and provides users multi-layer security.

Fees

Every exchange has a different fee structure. The fee will kill your profits if it is too high. You should check the trading fees of all exchanges and then choose the cheapest one to buy bitcoin.

Payment Methods

There are many payment methods you can use to buy bitcoin from an exchange. You can use an online bank transfer or a credit card/debit card to buy bitcoin. Many exchanges support multiple payment processors like Paypal, Google Pay, Ali Pay, etc.