Techibytes EditorInvesting or trading in Bitcoin and other Cryptocurrency, in general, can be quite confusing for a beginner who is looking for legit bitcoin investment sites. You hear news every day about the price of BITCOIN falling and rising, and you have no idea what it means. There is frequent news about scams and people losing money. While this is true, and many scams have happened and continue to happen, it has never been easy to invest in and safely trade-in Cryptocurrency as it is today.
If you are like my good friend John who came to meet me a few months ago to dissect the mystery behind BITCOIN and how Crypto works, then this article is for you. John has heard different things about Cryptocurrency, and yet he still cannot understand it.
How does a beginner get started? How do you get or make Bitcoin? Where should you buy Bitcoin? How do you invest in Bitcoin or Cryptocurrency? How much money do you need to start? What do you gain from investing in Crypto?
We’ll answer all of these questions and list 10 of the best and legit Bitcoin investment sites that enable you to buy, trade and invest in Bitcoin and other Cryptocurrency. Just ensure you read to the end.
Table of Contents
What are BITCOIN investment sites?
Bitcoin investment sites are exchange platforms that allow or enable users to purchase and hold Bitcoin (BTC) over a specific period with the hope of getting a return or increase on the investment.
Let me make it simpler; as an Investor, you can buy and save BTC on these platforms using either fiat currencies or other cryptocurrencies such as Ether (ETH) in exchange for BTC.
These investment sites can also be in the form of a lending platform where customers can lend their BTC to other users for a profit. That’s how the Bitcoin investment platform works. Now let’s go straight to our carefully selected legit Bitcoin investment platform in and around the world.
10 legit Bitcoin Investment Sites Exchange
- Binance
- Coinbase
- Luno
- Paxful
- Gemini
- Kraken
- BlockFi
- Crypto.com
- Celsius
- eToro
Also read: top 5 online payment gateways in Nigeria
Best Cryptocurrency Exchanges and Investing Platforms
1. BINANCE
BINANCE arguably one of the biggest Crypto exchange platforms globally in terms of its user size and market cap. It is also one of the best crypto trading platforms globally. BINANCE was founded in July 2017 by developer Changpeng Zhao (aka CZ).
CZ launched Binance after a successful ICO that saw the firm raised $15 million. Binance is top on our list of legit Bitcoin investment sites, and it currently operates worldwide in most countries, but you can access the US version through Binance.us.
Pros
- Educational materials and support videos are available to get new users familiar with the App.
- Multiple deposits and withdrawal options for both crypto and fiat currencies.
- There are various Crypto assets in the market and a comprehensive range of crypto pairings to trade.
- High trading volume.
- Low trading charges: it has some of the lowest trading fees and transaction charges
- Secure site, there are maximum security measures to keep users account safe at all times. Accessible through its mobile and App platforms.
Cons
- The app is quite technical to navigate; the interface is quite an uneasy one.
- Advanced trading tools on Binance may seem complicated for novice traders.
- Requires series of the stressful login process
- KYC demand for large deposits and withdrawals may not seem convenient for users who want to remain anonymous.
- The U.S. version has limited options compared to the worldwide version
- Not available in all 50 states in the U.S
2. COINBASE
Coinbase is the most popular Crypto exchange in the U.S. and is one of the world’s most legit Bitcoin investment sites. Launched in 2012 with its headquarters in San Francisco, Coinbase is fully regulated in 40 states in the U.S. and is available in more than 100 countries worldwide.
Coinbase services more than 35 million clients worldwide. The exchange, which initially supported only BTC, has added various cryptocurrencies, including ETH, LTC, BCH, etc.
You can earn interest on your USDT, and you can earn token rewards by completing When you open a Coinbase account, you get a free $5 bonus.
Pros
- Supports only trusted cryptos.
- A simple easy to use interface Support both Android and iOS devices
- Good selection of tokens and coins to invest in
- High level of security and insurance
- Multiple crypto-to-crypto and fiat-to-crypto pairs.
Cons
- Expensive fees except you use Coinbase pro
- Only available in a few countries.
- KYC requirements may track users’ transaction history.
- Slow to adopt popular new Crypto
3. LUNO
Luno was launched in 2013 under the name BitX. In 2016, the exchange was renamed Luno, with its offices located across three cities, including London, Singapore, Cape Town and presence in over 40 countries, including Nigeria.
With more than 8million users, Luno is Africa’s biggest cryptocurrency platform, and it offers a great starting point where beginner Bitcoin investors can purchase Cryptocurrency using fiat currencies. Acquired BTC can be stored on Luno or transferred out of the exchange.
You can earn a small amount of Crypto for referring others to sign up. Luno is also one of the most Secured and legit Bitcoin investment sites.
Pros
- User-friendly and simple trading platform.
- Suitable for BTC beginners.
- Offers mobile wallet
- Instant exchange of Cryptocurrency to the bank account
- Wide range of deposit and withdrawal options.
Cons
- Limited trading tools.
- Supports only a few cryptocurrencies.
- Not suitable for pro-BTC traders.
4. PAXFUL
Paxful is a peer-to-peer (p2p) marketplace that brings users together to buy and sell BTC using various payment methods. Paxful was launched in 2015 with its headquarters cited in the U.S. Its main objective is to be the Bitcoin community’s drive and has gone a step further to make BTC adoption easier for everyone regardless of race or location.
Paxful, with more than 6 million global users and more than a $1.5 billion market cap, is not the regular exchange. Still, it is one of the legit Bitcoin investment sites on our list, a platform where you can buy and move coins at will and send coins to any wallet at will. Users display their coins with offers, and interested buyers contact them.
This system is most suitable for countries with heavy restrictions or regulations or a ban on Cryptocurrency.
Pros
- Peer-to-peer marketplace
- Affiliate program
- Availability of several payment methods.
- Paxful has no country restrictions.
- Responsive support forum.
Cons
- Fund delivery varies by seller.
- Possibility of getting scammed.
5. GEMINI
Gemini cryptocurrency exchange is a simple, secure, and beautiful investment site that allows users to buy and hold Bitcoin for long-term profit. Gemini is known for its transparent and security architecture.
Gemini was launched in 2014 by Cameron and Tyler Winklevoss in New York, where it has its corporate headquarters. It is licensed by the New York State Department of Financial Services (NYDFS) and recently got legal permission to operate in the United Kingdom.
It is currently available in all 50 states in the U.s, including New York. It is one of the legit Bitcoin investment sites we’d recommend. Gemini Earn provides solid interest rates. When you open a Gemini account and deposit $100, you get a $10 bonus!
Pros
- Multi-layer security.
- Simple user interface
- Mobile app support
- Has block and option trading functions
- Fully regulated exchange
- offers FDIC protection on USD deposits.
Cons
- Strict KYC requirements.
- Supports fewer cryptocurrencies.
- High fees and pricing structure
6. KRAKEN
Kraken is a U.S.-based cryptocurrency exchange platform launched in 2011. The exchange allows the buying and holding of BTC over a long period. Users are also entitled to stake their BTC for a yearly reward of 0.25%, with the profits paid twice a week.
Kraken offers a limited section of coins and tokens to U.S. customers versus international customers. Kraken is one of the few legit Bitcoin investment sites on this list that allow you to trade DOGECOIN and other, more risky, tokens. They also allow margin trading.
Pros
- 24/7 professional customer support.
- Low fees.
- Advanced security measures.
- Supports both fiat-to-crypto and crypto-to-crypto pairs.
- Mobile app support
- High liquidity for all trading pairs.
Cons
- Fiat deposit confirmation can take up to five business days.
- No credit card deposit and withdrawal support.
- One of the most difficult platforms to use
7. Crypto.com
Crypto.com is one of the largest and fastest-growing crypto exchanges. It is also one of the well-known legit Bitcoin investment sites in the world. It is based in Hong Kong but offers a ton of support for US-based customers.
With Crypto.com, you can have over 90 tokens and coins worldwide, and 50 tokens and coins if you’re in the United States. Plus, they offer solid rates on their crypto savings accounts.
Pros
- Lots of supported coins and tokens
- Pays weekly interest on crypto savings
- You can get a debit card linked to your account
Cons
- Complicated fee structure
- No desktop support, only app-based
- Limited customer support
8. BlockFi
BlockFi is a US-based cryptocurrency investment platform that allows you to lend and earn interest on your holdings. Instead of selling your coins and tokens, you can also borrow against your holdings. If you’re looking to hold your tokens, you can also just let them earn interest for you.
Launched in August 2017 by Zac Prince and Flori Marquez, BlockFi users who deposit BTC on its savings program get a 6% annual interest paid monthly with a compound interest rate of 6.2%. Users of the platform still get paid regardless of whether the value of BTC drops.
BlockFi also enables users to trade Bitcoin with several trading pairs available. BlockFi is one of the legit Bitcoin investment sites you can try out if you’re in the U.S. You can Get up to a $250 bonus when you make a $25 deposit and maintain it for a specified period.
Pros
- No commissions and fees
- US-Based and highly regulated
- Earn high interest on deposits
- You can trade cryptocurrencies on the platform.
- Interests are paid monthly.
- Supports mobile apps for Android and iOS users.
Cons
- Doesn’t support many tokens and coins
- Limited free withdrawals
- BlockFi mandates KYC for its customers
- Interest rates fluctuate based on market conditions
9. Celsius
Founded in 2017 by Alex Mashinsky and Daniel Leon, Celsius Network is a London-based crypto lending platform that allows investors to earn interest on their savings.
It works like a bank where users’ funds are lent to other customers for a profit. However, Celsius Network deals mainly in cryptocurrencies, including BTC.
Users who deposit their BTC assets will earn 6.20% interest rates. To date, Celsius Network has processed over $8 billion in loans and serviced more than 228,000 users globally.
Pros
- High-interest rates.
- Zero fees.
- Access to Crypto lending
- Has utility token (Celtoken)
- Weekly interests payment.
- Flexible terms.
- No minimum balance is required.
Cons
Celsius adjusts its interest rates regularly, making it somewhat difficult to determine the actual yield.
No LiveChat customer support on its website.
10. eToro
eToro has been one of the oldest legit Bitcoin investment sites and has been around for a while in the U.K. and throughout Europe, but now present in the United States.
eToro is an Israeli social trading and multi-asset brokerage company that focuses on providing financial and copy trading services. In 2018, the company’s value was $800 million, which tripled to $2.5 billion in 2020.
They offer a huge variety of digital assets to buy and sell on their platform, and even better, they have a practice trading account so you can give it a try before you use real funds.
Pros
- Worldwide options for trading crypto
- Ability to copy other traders portfolios
- Low fee to start
Cons
- Limited options in the United States
- Only available in 41 states
- Doesn’t support many tokens and coins as other platforms on this list
How to buy Cryptocurrency (BITCOIN) as a beginner
The questions coming to your mind right now would be how do I buy Bitcoin or get this Bitcoin for myself? Without wasting time, let’s go right into getting some Crypto.
There are two major ways to buy Cryptocurrency in general. The first is using fiat currency like the U.S. dollar or naira, depending on your location to buy, while the second is a direct transfer of coins through peer-to-peer (P2P).
How to Buy Bitcoin through Fiat deposit
Let’s use Luno as a case study here. Luno is one of the biggest Crypto exchange platforms globally, and it is really popular in Africa. With Luno, you open a Luno account and link your bank account or credit card.
Then transfer funds from your bank account to your Luno account; you can then use the fund inside your wallet to purchase BTC or purchase using your credit card.
The website will then convert the other currency to an equivalent Crypto. For example, if you enter 500 USD, the website will fill in the BTC side with 0.0357 (or whatever the current BTC exchange rate is).
Once you have the amount filled in, click to purchase your BTC. This method is the fastest method we’ve tried and typically takes between 10min to 24hrs before your Crypto reflects in your wallet.
Where exactly does the BTC you’ve purchased go?
Your BTC sits in what’s called a digital wallet. Most exchanges have their wallet that you use to contain your BTC. Your wallet is like your Bank account number that you use to purchase, hold and send money (this time Crypto).
Each exchange wallet is unique, and you cannot use the Bitcoin wallet for the Ethereum wallet. Once you’ve deposited funds with the exchange of choice and purchased BTC, you’re ready to invest or hodl your coin.
How to buy Bitcoin through P2P
Suppose the exchange doesn’t allow purchasing BTC by transferring funds or using a credit card, or countries like Nigeria where Cryptocurrency has been prohibited. In that case, you can deposit BTC from another exchange or another user, and This is done by getting your wallet address from the target exchange.
Then enter it on the source exchange along with the amount of BTC to transfer to the new exchange, Or you buy a certain amount of BTC from someone else and get it sent to your wallet. The transaction takes a few minutes for the exchanged BTC to appear in the target wallet.
Also read: How African tech startups Chipper Cash raises $100m to become a unicorn.
How to identify legit BITCOIN investment sites
Bitcoin (BTC) was created in 2009 by Satoshi Nakamoto, A man who little is known about his existence. Several Bitcoin investment sites have launched operations in more than twelve years of Crypto existence. These platforms usually promise enticing features and services that will enable them to stay ahead of their competitors.
Millions of people have been victims of scams, and many have lost their funds to illegitimate Bitcoin exchanges. We’ve put together a few tips to help you decipher legit Bitcoin investment sites. A legit crypto site will have these features before you can trust them with your money. Even with these tips, you might still want to shine your eye.
Regulation
The most important criterion in choosing a site to invest your money in is regulation, and This goes a long way to confirm the legitimacy of the investment site.
Since Bitcoin investment involves users’ funds, the platform must have the required license to operate in a particular jurisdiction. In most countries, the exchange platform would be regulated by the financial authority of such a country, which could either be the central bank of the country or the Security Exchange Commission (SEC).
The regulated authority would, most times, ensure that these platforms do not run away with your money whenever they deem fit.
Customer Service support
Nobody hopes to encounter an issue while using an investment site. However, problems may arise along the line. What makes it less of an issue is a platform’s ability to resolve the issue efficiently.
Before you invest with any crypto investment sites, you might want to ensure they have professional customer support.
Legit Bitcoin investment sites should have a 24/7 customer support service to settle all users’ complaints when they arise. You can check for their email, phone number, live chat and other support mechanisms.
Security
Before you decide as an investor, you should be concerned about the safety of your funds, How an exchange intends to protect your money and data.
It’s not news that hackers always try to gain access to trading platforms, even financial institutions; that’s why you as an investor should take time to check legit investment sites with adequate security measures.
Legit bitcoin investment sites such as Coinbase provide insurance coverage for assets stored on their platform. Others like Binance adopt a self-implemented insurance program that lets it reimburse users in the event of a security breach.
Multiple Deposit & Withdrawal Options
Before you invest with any exchange, you should ensure they have a platform that allows easy deposits and withdrawal of funds. There should be multiple options for deposit and withdrawal; with this, you can opt for an option that best suits your needs.
User-Friendly Interface
Legit Bitcoin investment sites should have an easy-to-use interface to facilitate trading. What’s the point of going through a lot of hassles to navigate a site?
The exchange platform should be sleek, friendly, responsive for both beginners and professional traders. The service should have a web-based and mobile platform to work on several devices, including P.C., Android, and IOS.
You should know that there are a good number of legit Bitcoin investment sites that unfortunately couldn’t make this list, so ensure you do your due diligence before putting your money anywhere.
If you enjoy reading this article, ensure you drop a comment below and tell us which of these sites you’d love to try or tell us your experience using any of them.
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Techibytes Editor
Damilare Adams
Erica Ofure
Guest
Godswill
