Every day more people are interested in acquire cryptocurrencies in different parts of the world. Bitcoin is an asset that last December 2017 had a value of $ 16.000 and a large part of investors like the idea of being part of this technological revolution and taking advantage of the advantages and opportunities that cryptocurrencies offer today.
Trading digital currencies It has aroused great interest in recent years among the resident citizens of Spain. During the last months a great variety of new digital currencies that are making this market increasingly large and complex, so many users who want to invest in cryptocurrencies will not know how to start and buy their first Bitcoins or Ethers, to comment on the two best known cryptocurrencies ...
Although there are many ways to buy cryptocurrencies, the most recommended way to do buying and selling bitcoins or other cryptos is through the use of exchange platforms (known as exchange by its English name) in which investors can buy their first tokens and manage their cryptocurrency portfolios. These platforms are similar to stock brokers only that instead of buying and selling stocks what we buy and sell are cryptocurrencies.
Different types of exchanges
The market can be divided into two different groups of exchanges.
- Centralized systems: Users can buy and sell their cryptocurrencies through a centralized platform that acts as an intermediary between buyer and seller in exchange for a small commission. This type of exchange is more similar to current stock brokers and they are the ones that manage a greater volume of business today. Some examples are Kraken, Binance, Kucoin, etc.
- Decentralized systems: Thanks to Blockchain technology, a new generation of decentralized exchanges are appearing where the purchase and sale of tokens is carried out directly between individuals, the platform being a mere system to put both parties in contact. In this case there is usually no commission (or it is very low) and at the moment they are less used systems since their appearance is relatively new. In this case, IDEX should be highlighted as the most used exchange in the world.
An important difference between both systems is that the centralized systems only have a certain type of cryptocurrency available (those that have been accepted by the platform) while in the decentralized systems this control does not exist and all the tokens in the market can be traded as long as there is a user willing to sell and another to buy.
To continue I show you a list with some exchange services that work in Spain. The list consists only of centralized systems, since decentralized ones are only recommended for those users with a lot of experience investing in cryptocurrencies.
Coinbase / GDAX
Coinbase and its ficial GDAX are the main entrance to the crypto world for most users, since They allow to operate with Euros and Dollars. Let's say that in general, if you want to spend your real world money to cryptocurrencies, using Coinbase is usually the best option.
It is a platform Very safe, which allows FIAT money to be deposited through bank transfers or credit card. Its commissions are usually high, but as I say it is a very secure platform and that is paid. It only allows buying Bitcoin, Bitcoin Cash, Ethereum and Litecoin so if we want to buy other cryptocurrencies we will have to use other exchanges.
In addition, it is now possible to create an account on Coinbase and get 10 $ free when you enter the first $ 100. For it you just have to register using this link and send $ 100 to your account.
Binance
Currently it is the exchange with the largest market share and the highest trading volume of all that exists. It does not have a very wide catalog of cryptocurrencies, but without a doubt it is the best option to sell all those that it has available because it is where you are going to get the best price.
The registry is usually open only in certain periods to avoid receiving an avalanche of new users. If you want to register on Binance you can do it by clicking on this link.
Creak
This exchange also allows you to operate with Euros and Dollars so it is also widely used to start working with cryptocurrencies. Have a broader coin catalog than Coinbase, since it allows some such as Ripple, Dash, Iconomi, etc. and its commissions are somewhat lower.
A few months ago the platform was quite unstable and operate with it it was a suffering, but since January 2018 they have carried out a stability update and the platform works very well so it is totally recommended. Registration in Kraken you can do click here.
Kucoin
Kucion is an exchange widely used to trade newly created cryptocurrencies and that are not yet accessible on other larger exchanges such as Kraken or Binance. It has a somewhat lower trading volume than all the previous ones, but it is the best option when you want to buy and sell some lesser known cryptos such as Matrix, WanChain or WPR to give a few examples.
Its validation process is very simple, so if you want to register in Kucoin you just have to click here and follow all the steps.
HitBTC
HitBTC is a veteran exchange and it works very well. Its platform is simple to use and allows access to tokens that are not usually found on other platforms in the market, so expert cryptocurrency users usually have an account on it. To register you just have to click here.
Bittrex
It is a platform widely used in the American market to buy and sell Bitcoins. The tool is very robust, it operates with few tokens but it has a quite acceptable trading volume.
Poloniex
Poloniex is an exchange that was very popular in 2016 and 2017 but has been losing importance lately. You have had some security issues So we do not recommend using it unless you want to invest in a cryptocurrency that is only available on this platform.
What exchange to recommend?
Generally there is no exchange that is better than the rest in all respects so it is very difficult to recommend just one. Each platform has its positive and negative points and it also depends a lot on the currency in which we want to invest, since each exchange only allows access to a certain catalog of tokens. In general, if what you are looking for is to start buying your first cryptocurrencies with euros or dollars, our recommendation is that you use Coinbase, since its use is very similar to a traditional broker and that will help you make your first operations with confidence.
If you later want to trade or if you are interested in investing in other cryptocurrencies other than the 5 available in Coinbase, our recommendation is to use Binance for being the one with the highest volume and high security.
But as a general rule, people who have been investing in cryptocurrencies for several years usually have accounts in dozens of exchanges Since there are some currencies that are only available in very small and low-volume exchanges, it is always good to have the account ready in case you want to operate, to be able to do it as quickly as possible.