Who knew a simple cryptocurrency which started as cheap as just a dollar would become as valuable as $20,000 per coin! Bitcoin took the world of the Internet by storm and set a record-breaking price.

It’s not where the currency has come to a stop, but it is ever-evolving. According to analysts, Bitcoin will witness rapid growth in the coming years. Just during this bull-run, the FXStreet estimated a single Bitcoin price to reach an alarming rate of $300,000 above & more.

But before we begin with learning where we can find the best price for Bitcoin, let’s first identify what Bitcoin is and how much potential this digital currency upholds in the growing industries.

What is Bitcoin?

Bitcoin is a digital cryptocurrency that is more commonly used as an investment for making online purchases and more. It is a currency sponsored by the government. It works through a system where people in the Bitcoin community earn coins through a sophisticated method called “mining.”

Using the best computer technologies and working on complex algorithms, the machine searches for Bitcoins to take a painstakingly long process to mine a single Bitcoin.

Based on the market value of Bitcoin, you can sell or purchase the cryptocurrency anywhere you want. One thing to keep in mind is that Bitcoin is not backed by any government. Bitcoin is part of a system or a community where you can earn coins through mining, as discussed above. The currency can also be purchased in digital wallets through different bitcoin exchanges. It works similarly as a stock market exchange does.

In short, Bitcoin is expressed as the future of currency.

Which Is the Best Exchange to Purchase Bitcoin?

If you can’t set up your own mining gig to extract Bitcoins, my recommendation is that you go for purchasing Bitcoin at an exchange. Choosing the right exchange can be quite overwhelming and if you’re not quite sure about which mining exchange can be the best option for you, let us help you out.

Here are five mining exchanges that I believe are worth consideration.

1) Coinbase

Without a doubt, Coinbase is one of the largest Bitcoin exchanges in the market. With Coinbase, you get not just an exchange but also a digital wallet. It is one of the easiest places to find & purchase your Bitcoin currency. You can purchase Ethereum, Bitcoin Cash & Litecoin from this place.

When you purchase a cryptocurrency from Coinbase, it charges you a fee of 1.49% for U.S transactions through a bank account. If you purchase it using a credit or debit card, you get a charge of a 3.99% fixed rate. Why do I believe Coinbase is a great option? It’s because Coinbase keeps 98% of your cryptocurrency in an offline location.

2) Cash App

Here’s a mobile app through which you can purchase & sell Bitcoin without incurring any additional cost. Although the app is normally used for transferring money, because of its free transactional nature, it is considered one of the top apps for Bitcoin currency exchange. Among the best crypto to buy, Ethereum is one that I believe holds a significant potential of growth. It is also a very stable currency and holds a great potential for growth in the coming days.

Powered by Square, Cash App is a huge financial technology where multiple transactions take place. It includes multiple services, including Bitcoin transactions, which is a small part of the entire gig.

3) Binance

Binance is another cryptocurrency exchange that includes plenty of different cryptocurrencies. It includes cryptos such as Bitcoin, Ethereum and its very own Binance Coin. The transaction fees for Binance goes as low as .1%, so if you want to get the best rates for multiple transactions, Binance is your best bet. Binance allows you to make quick trades on various digital currencies such as TRON, ICON, Ethereum Classic, EOS, Litecoin, Stellar Lumens, Ripple and a bunch of other ones.

If you are looking for a platform where you can make many exchanges at a low price tag, Binance is your one-stop-shop solution for everything. You can access it through a desktop as well as your Android app. There are reports of delays during transactions, but altogether, it is a great app.

4) CoinMama

Looking for an all-in-one exchange with a digital wallet for easy transactions, Coinmama is a great platform where you can change different currencies. You can easily exchange additional currencies, including U.S Dollars to Euros and much more. The site comes with more than 2 million customers in 188 countries. An easy feature allows you to purchase Bitcoin in just a handful of clicks from the homepage. The exchange further offers you to make real-time transactions. You only get charged for a higher fee, which goes as much as up to 3.9% on commission. Just buy and sell transactions for 0.9%. If you perform the transaction using a credit or debit card, it can go as much as up to 5%.

For now, there’s only a website. There’s no mobile app for using the platform.

Coinmama is a registered business in the United States and well recognized by the government.

Is Cryptocurrency a Good Investment?

Cryptocurrency has a vast potential and growth structure. If you haven’t thought of making due investments in the past, now is the time to make some. The market is currently on a rapid growth because of the bull-run, but by the end of this year, the market will come to an abrupt close. And when from there onwards, the currency value will start coming down, making it the best time to invest. You can put your money in and wait for the next few years for the currency to reach an alarming value for the long term. It can be an excellent investment for you and future businesses.

January 5, 2021
best exchanges to buy cryptocurrency

Best Exchanges to Buy Cryptocurrency in the UAE Fintech Market in 2020

Who knew a simple cryptocurrency which started as cheap as just a dollar would become as valuable as $20,000 per coin! Bitcoin took the world of […]
October 7, 2020

Why Should Business Leaders of UAE Look Into “Tech-Intensity” After 2020?

There’s a common misconception that when we talk about software engineers, we picture geeky enthusiasts sitting behind screens and working their fingers to the bone on […]
May 5, 2020

How Can Next-Generation Tech Help Us Overcome COVID19 in the UAE

COVID 19 is a major public threat that has engulfed the whole world. From a novel deadly virus that stemmed in the Wuhan province of China, […]
December 11, 2019
Google-is-listening

Sshh! Google is listening – Lemme Show you How to Stop it from Eavesdropping

Imagine this. You’re at work and having an informal chat with your colleague. During the conversation, you also mention that you wish to purchase a mid-range […]
June 25, 2019

Android Oreo Vs Android Pie: What’s in and What’s Out and Everything In Between

There was a time when Nokia was the Goliath and was leading the pack with its Symbian OS. It came up with quite a few exciting […]
July 6, 2018

Centennial 2071 – An Aim to Create Dubai the Most Technologically Adept City in the World

At the time when leaders from all around the world assembled at the Swiss mountain town of Davos, some of the leading scientists, economists, educationists, and […]