There are two types of cryptocurrency exchanges: Fiat exchanges allow you to buy cryptocurrency with fiat money (dollars, euros, pounds, etc.). A fiat exchange lets you use traditional payment methods to buy cryptocurrency, like: Fiat exchanges are how most people make their entry into cryptocurrency exchanges.

If you’re new you’ll definitely need to use a fiat exchange, so keep following along. These exchanges don’t deal with traditional payment methods like credit cards and banks.

Instead, altcoin exchanges require that you deposit cryptocurrency FIRST and then you can trade the cryptocurrency you deposited for other coins and altcoins. Read: Moonshot Picks- Cryptos with Massive Upside (500+ Potential Gains) may 2018 Since most cryptocurrencies must be purchased with bitcoin or ether, Coinbase is a good entry point whether you want Bitcoin or any other cryptocurrency.

Coinbase lets customers from the USA, Canada, UK, Europe, Singapore, and Australia buy with a credit card or bank account. The fees for buying with a credit card are 3.99%, while the fees for buying with bank transfer are about 1.49%.

This is the best option for beginners, it’s simple and you can buy from your phone.  However, for experienced traders or those who would like to own/trade more cryptocurrencies than the basic 3.. Once you’ve traded your crypto for fiat, you’ll want to move your newly acquired funds to an exchange with more options. Read more from cryptoclarified.com…

thumbnail courtesy of cryptoclarified.com