Signing up to an online exchange is the mandatory first step to getting into the Bitcoin and Cryptocurrency world.
Listed below are my suggested exchanges that I feel are easy to understand, trustworthy and simple to navigate for beginners!
Each one has a different method in signing up and verifying your account.
Do not feel put off by some of the strange ID verification requests – these are required by law and are there to keep the Bitcoin and Cryptocurrency world legitimate and eliminate potential money laundering by criminals.
When I first started, I found CoinSpot was the easiest exchange to get my head around in regards to buying, selling and signing up.
It’s an Australian based exchange with a load of different coins to buy, sell or trade. The interface is really easy to navigate and much more basic than most of the other exchange websites.
The deposit options are great too, with POLi, BPAY and BlueShyft all available to get your money into the game.
An alternative site that I used alongside CoinSpot when I first ventured into crypto was CoinBase.
The sign up process is very straightforward and really quick. You can usually start buying Bitcoin and other Cryptocurrencies within a few hours of opening an account.
Coinbase is a US based exchange and currently the world’s largest Bitcoin exchange. When you first open a CoinBase account, the maximum you will be able to deposit is USD$250 per week. This is very beneficial for new investors as it limits your investment potential when you are just beginning.
A nice bonus when you use my link to sign up to CoinBase is that you’ll get USD$10 worth of Bitcoin for free when you make your first deposit!
A new exchange that is currently in beta testing mode is UPcoin.
The cool thing about UPcoin right now is that when you sign up they’ll credit your account with 5 Bitcoin for you to test the features of the exchange. 5 Bitcoin is huge to play with! You can feel like a small whale while testing out the UPcoin exchange.
I highly recommend signing up and having a play with your free 5 Bitcoin before the offer ends!