Best platforms to buy cryptocurrencies Somalia 2022
A cryptocurrency exchange is a virtual place where you can trade virtual currencies or exchange them for fiat money.
These exchanges are characterized by advanced features and offer investors the opportunity to make money.
The world's first digital currency, bitcoin, emerged relatively recently, in 2009. It differs from traditional finance by its anonymity, high transaction execution, low transaction fees, and special production algorithm. As its popularity grew, users needed special platforms - the best cryptocurrency exchanges. On these resources people could exchange one cryptocurrency for another or exchange cryptocurrencies for fiat money. Miners mined cryptocurrencies and then transferred them by converting them on a special service.
Coinbase is a very large and popular exchange. It was founded in 2012, just a few years after the emergence of bitcoin. This exchange is located in the United States and operates in strict compliance with all established rules, making it reliable and trustworthy. They offer two different accounts - regular and professional.
Coinbase has quite high fees if you are not using their professional account. This professional account also allows you to get more different charts and even some additional indicators that track subtle changes in the currency market. However, they do offer a number of different types of cryptocurrencies, so there is plenty of choice.
Coinbase is intuitive, so it shouldn't be hard for beginners to get used to it. Today, more than 10 million customers work with the platform.
- 23 types of digital coins.
- The rates charged for all operations under $200 are as follows: $ 0.99 - $ 2.99 - for operations from $ 0 to $ 200; for over $ 200, a fixed interest rate comes into play. Its size depends on the payment method.
- Free mobile and online wallet. The advantage of this wallet is that transactions can be made off-blockchain.
- You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems. SEPA transfers are available for EU residents.
- Two-factor authentication. All website traffic is encrypted using the SSL cryptographic protocol.
All wallets keys are protected by AES-256 encryption. Only 2% of her clients' cryptocurrency funds are stored online, and they are insured in case of loss.
- Android and iOS app.
The Exchange first opened its doors in 2017. However, being a fairly new company, it has managed to expand its portfolio significantly. Perhaps the exchange's main strength is that it has deliberately focused on a large number of different cryptocurrencies. There are even some fiat currency options, but they are much more limited.
This works in its favor - the number of currency pairs, the wide range of trading instruments, as well as the trust of millions of users, which is particularly important in the cryptocurrency market. The variety of assets and low fees have made it more than competitive globally.
Users can make deposits using cryptocurrencies or fiat currencies that Binance allows. This is an often overlooked benefit that provides easier access to the exchange for customers around the world. Perhaps the only real disadvantage of this exchange is that it has a slightly more complicated layout than some other exchanges, and is perhaps more suitable for those who have experience with such cryptocurrency systems:
- 740 different crypto and fiat pairs, including own token BNB.
- Binance offers competitive trading fees (commissions): 0.1% on each side of the trade, or 0.075% if you are using your Binance tokens (BNB).
- Trust Wallet mobile application.
- Bank transfer, debit/credit cards, various P2P payment channels.
- The exchange launched CryptoSafe Alliance (CSA). This initiative will bring together exchanges, blockchain protocols, cybersecurity experts, and regulatory compliance companies. It is the first comprehensive threat monitoring and protection tool in a decentralized data exchange environment.
- A free app is available in Google Play Store or the App Store.
Kraken is one of the oldest exchanges in the industry and among the current leaders. The company officially opened on July 28, 2011 in San Francisco, public beta testing began in May 2013, and by September the exchange was open to a wide range of traders.
Kraken has managed to gain the trust of users. There have been no successful hacker attacks on the exchange.
Having been established relatively quickly, the company has grown quickly to become one of the most popular exchanges on the European market. They are highly rated and offer a good mix of altcoins as well as fiat currencies to trade.
Kraken is a self-regulating exchange, which means that it develops its own security policies and operating rules. However, it is compliant with the laws and regulations of many supported jurisdictions.
This is definitely a good exchange that has all the features needed to support more advanced users. One notable drawback is that there are not many payment methods with which you can fund your account. This can be overcome, but it is still a drawback for some:
- 8 tokens are available for.
- Transactions under 50,000 units of a particular currency are subject to a commission of 0.16% for the seller and 0.26% for the buyer. For sums over 50,000 units, commissions are reduced to 0.14% and 0.24% respectively.
- No crypto wallet is offered on the site.
- Crypto wallets and money transfers via bank transfer. Deposit/withdrawal via bank cards is not available.
- The exchange offers users two-factor authentication, PGP encryption, and global settings lock, which prevents any account changes within a certain period of time.
- Kraken Pro and Kraken Futures applications.
Bittrex Inc. was founded in 2014 and is headquartered in Seattle, Washington, USA. Bittrex was founded by cyber security experts. Although Bittrex Inc. is a US-based company, it has recently expanded its operations and opened an international subsidiary.
The exchange is constantly being modified and updated, and Bittrex is establishing new partnerships.
It provides storage and trading with over 200 tokens, the number of which is constantly growing. The exchange also works with euros and dollars and allows withdrawals to bank cards. In addition, the exchange has extensive security and high-tech software to protect these online wallets and the platform itself:
- 250+ trading pairs are available.
- Topping up your euro account is available via SEPA credit transfer,international bank transfer,bank card. Fiat funds withdrawal is possible to a bank account using an international bank transfer, and for euros, a SEPA credit transfer is supported. The withdrawal commission depends on the chosen currency: in bitcoin, it is 0.0005 BTC, in Ethereum - 0.00600000 ETH.The site has a fixed trading fee of 0.25% of the total value of the order.
- No crypto wallet.
- Bank transfers, credit/debit cards.
- Two-factor authentication (2FA),IP check, which requires an email confirmation of entry from a new IP-address, IP whitelists, Cold storage for 80%-90% assets.
- There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.
BitMex started its history in 2014 and has grown very quickly with attractive margin exchange offers. BitMex is the largest bitcoin platform, offering bitcoin futures with leverage up to 100x. This environment is probably best suited for more experienced traders.
BitMex offers perpetual and fixed contracts with different expiration dates. But all contracts are paid for in bitcoin.
BitMex offers the highest market liquidity of any exchange. Extremely low transaction costs and minimum deposit requirements. Ability to sign up in 30 seconds. The BitMex interface appears to be quite functional. The user can freely modify the various widgets available according to his preferences. Overall, this exchange has become one of the most popular options, especially for margin trading:
- 55 trading pairs.
- BitMEX does not charge any fees for deposits or withdrawals. When withdrawing BTC, a minimum Bitcoin Network commission is applied; commissions for takers are 0.075% of the total order value, while makers are paid an additional 0.025% for each trade.
- Crypto BitMEX wallet.
- Beyond virtual currencies, BitMEX does not accept any other deposits.
- Funds are stored in cold wallets; Two-factor authentication; Registration via SMS notifications; Multi-signature wallets for transactions; Email communications are encrypted using PGP encryption.
- BitMEX Mobile launched in September 2020.
Founded in late 2012, this exchange is one of the first exchanges. Initially it was a peer-to-peer platform for margin lending in BTC, but later other cryptocurrencies became available and Bitfinex evolved into an exchange. From the beginning, the platform aimed to attract US users. The exchange is now used all over the world.
One of the reasons for its success is its fairly simple interface. Despite its versatility, the exchange is quite easy to use. The combination of this ease of use and the variety of features makes the exchange convenient for both experienced and novice traders. Users can customize the interface, create their own market information layouts, change the colors of the interface elements, etc. Both the mobile and web versions of the site are convenient:
- Over 140 coins and 300 trading pairs.
- No additional payments for deposits and withdrawals in digital coins. When you deposit USD, you will have to pay a commission of 0.1%, but not less than $ 20;Minimum fee for withdrawing fiat money is $ 60; With the minimum currency turnover per month, the trading fee is 0.1% for the maker and 0.2% for the taker.
- Users are offered three wallets to choose from - Exchange Wallet, Margin Wallet, and Financing Wallet.
- In addition to digital currencies, bank transfers and card withdrawals are available to users.
- Only 0.5% of crypto assets are kept online to support daily transactions. The rest of the coins are kept in cold wallets out of the reach of hackers. For these wallets to become available, manual authorization of several members of the management team is required.
LocalBitcoins was launched in Finland in 2012. The main office is located in Suomi's capital, Helsinki. LocalBitcoins - a P2P exchange to buy bitcoin in exchange for offline fiat currency, online e-money and some altcoins. It is considered a reliable platform for direct, decentralized exchange between trading parties. It allows you to quickly buy bitcoins through a number of convenient methods.
With citizens from over 200 countries working on this exchange, it is one of the largest cryptocurrency exchanges.
It is not like other exchanges, it does not use a common global exchange rate. Competitors decide for themselves the price at which they want to buy or sell bitcoins and choose the exchange methods:
- The service does not charge a commission from the buyer. For sellers, there is a set commission of 1% on each sale.
- Bank transfers, banking cards, electronic systems.
- The security of the transaction is ensured by the escrow method, which has proven to be highly effective; User accounts are protected by two-factor authentication.
Poloniex is one of the largest cryptocurrency exchanges in the world, founded in 2014 by Tristan D'Agosta. At the time of this writing, the exchange has over 100 currency pairs and a daily trading volume of over $13 million. Initially, the exchange focused on the US market, but the general popularity and high trading volumes have attracted altcoin traders from all over the world.
It offers a large number of pairs, so that experienced traders can create an excellent portfolio of their choice in a short period of time.
Interaction with the Poloniex exchange interface leaves only the best impressions. In addition, good liquidity and a wide range of assortments are undeniable advantages. The lending function will not leave indifferent those who prefer a low but stable passive income. However, Poloniex is not without a number of drawbacks, such as the lack of a mobile app and a cumbersome website:
- 100+ currency pairs.
- All deposits are allowed without any additional charges; The withdrawal fee is fixed, and it depends on the type of the currency; commissions are from 0 to 0.25%.Maker commission is from 0% to 0.15%; taker commission is from 0.1% to 0.25%. The higher is the volume of completed transactions in one month, the lower is the commission for all subsequently completed transactions.
- Own Wallet.
- Replenishment of an account with a bank card or withdrawal to a card are not available for users of some countries.
- The administration highly recommends to add two-factor authentication to your account.
- Mobile application.
KuCoin is a Hong Kong-based exchange that launched in May 2017 and has already gained popularity among traders. It is a third-party exchange that allows you to buy, sell, and trade various cyber currencies.
KuCoin's main feature is its own cryptocurrency, KuCoin Shares (KCS).
KuCoin is very popular among new virtual currencies that have gone through an ICO, which means you can buy your coins while they are still in their early stages. You can access KuCoin through your desktop computer, as well as through the Kucoin app for Android and iOS.
This exchange is an excellent platform that guarantees a high degree of protection for your goods. Transactions are very fast and withdrawals are almost instantaneous:
- 200+ coins and 450+ trading pairs.
- All deposits are free on the site, and there is a fixed fee for withdrawals; KuCoin offers a flat commission of 0.10%, which is less than the industry average.
- Inner site crypto wallet.
- A variety of payment methods supported by P2P fiat services.
- The exchange offers you the option to set up two-factor authentication by Google Authenticator.
- Mobile application .
Bitpanda is an Austrian company that specializes in buying and selling digital currencies. It strictly follows KYC (know your customer) and anti-money laundering laws.
The exchange fully respects its slogan: customer satisfaction is the top priority. The resource page is fast and works as a debugging mechanism.
A big advantage is working with fiat currency and a wide range of options for depositing and withdrawing money. The service offers a wide range of payment methods. Here cryptocurrencies can be purchased via Visa / MasterCard, payment systems and bank transfer.
Cryptoservice is concerned about the security of its customers. As such, it has implemented a two-factor authentication system and constantly monitors cryptocurrency investor activity. And to prevent hackers from accessing cryptocurrencies, Bitpanda keeps funds in "cold" storage, i.e. offline:
- Bitcoin, Ethereum and 30+ digital assets.
- The trading commission of the service depends on the type of currency and the nature of the transaction. When buying bitcoins, you pay 1.49%, when selling - 1.29%.
- Commission for replenishment and withdrawal is fixed for each coin and is debited from the account.
- Bitpanda crypto wallet.
- You can make a deposit either by bank transfer, credit cards or electronic payment systems.
- Bitpanda refers to systems that independently manage user wallet keys.Besides, the following security measures are offered: fund cold storage session control. Every login attempt from a new device requires two-factor authentication confirmation, authentication and validation via email.
Founded in 2013, the Coinmama exchange is owned by the investment company New Bit Ventures Ltd, which is legally registered in the State of Israel.
A trader with any level of education can work with Coinmama. There are very few sites on the market that are designed with novice traders in mind.
Coinmama is not an easy exchanger. Since it can only buy coins, it can also be treated as an exchanger. The site does not have a built-in digital wallet. All goods purchased are transferred to the address you provide. This can be inconvenient for some users. This exchange is known for its three-level verification. This suggests that its creators care about the security of its users' assets and personal information:
- The website sells Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos and EOS.
- The use of credit or debit cards implies a service charge of 5%.Besides, the charges 3.90% for buying coins and 0.9% for selling these.
- No Wallet.
- Credit/debit cards and bank transfers; It supports SEPA and SWIFT payments.
- Coinmama is a reputable company with a secure site using Trust Guard and Comodo technologies. Both services have confirmed that 256-bit SSL encryption is actively used on pages containing personal. information
- Mobile app.
Paxful lets you exchange fiat money for peer-to-peer digital assets and earn money by connecting an automated payment service and getting referrals. Paxful was founded in 2014. Today, the site allows you 400 ways to exchange digital assets for fiat money and works with almost all national currencies.
Paxful is a very powerful platform. If you are faced with the task of finding a quick way to buy or sell bitcoin, then this site is perfect.
The Paxful website has a user-friendly interface. Everything is very clear and understandable, which is especially important for people who are just starting out.
One of the features of this platform is that it offers its users the ability to sell BTC gift certificates to various chain stores, online auctions, stores. For example, merchants accept certificates for purchases at Amazon, Walmart, iTunes and many others:
- Bitcoin and Tether as assets.
- Commissions are applied for crypto selling:0.5% for bank transfers; 1% for bank cards and e-payments; 3-5% for gift cards; No commission is charged for buying cybercurrencies; Paxful will charge a transfer fee for sending funds to an external wallet. $ 0 - $ 9.99 = 0.0001 BTC$ 10 - $ 19.99 = 0.0002 BTC;More than $ 20 = 0.0005 BTC.
- The Paxful Wallet App makes it easy to store and manage coins with your mobile wallet.
- More than 300 ways to buy coins, including bank transfer, credit and debit cards, PayPal, Western Union, and even Amazon, iTunes or Steam gift cards.
- The security of the system is ensured by two-factor authentication, depositing and the obligatory verification procedure when working with large amounts.
- Paxful Wallet for Android and iOS.
The HitBTC exchange has been up and running since 2013 and is a beautifully designed site with a fast engine, multi-currency support, and the ability to trade both different cryptocurrencies and tokens.
The site offers users over 500 currency pairs to trade. The ability to work with fiat money is available.
It should be noted that this is a convenient and simple platform for trading digital currencies. Throughout its existence, it has established itself as a reliable and secure exchange. A wide selection of currency pairs, a simple interface and low commission levels make the platform a good choice for both beginner and experienced traders:
- 800 currency pairs.
- No commissions for deposits and a fixed commission for withdrawals depending on the coin; HitBTC uses a multi-level trading fee calculation system. The more a user trades, the lower his commission will be.
- No crypto wallet.
- The HitBTC exchange can be replenished exclusively with digital currency.
- The platform provides 2-factor authentication, high-end encryption technology and cold storage of funds.
- No application.
There are many tradeoffs and the choice is a matter for the individual;
However, the main criteria to consider when choosing a trading platform are as follows:
- The number of trading pairs.
- Payment options.
- Requirements for user verification.
Based on the information summarized in the article, you can make the right choice for yourself.