Cryptocurrencies have finally come of age. First appearing in the early 2000s, it has since come a long way. Bitcoin, the first cryptocurrency to appear, based on the blockchain technology, was valued at less than a cent. However, the year 2017 was a red-letter year. It hit $20000, and though the cryptocurrency market crashed and Bitcoin had to settle for a bit less than $6000, it was certain, that it was here to stay. Bitcoin spawned an entire universe of cryptocurrencies, also called Altcoins or alternative to Bitcoin. New age investors have fuelled interest in these digital assets by directing enormous investments. Such has been the intensity of activities in this field that in spite of an immensely forgetful 2018, there seems to be no dip in interest. 2019, has been a good year and the future looks quite promising.
One of the moot questions that first time investors ask is about the best exchanges to facilitate deposits to find crypto trades.
There are quite a few, in fact.
To begin with the most popular ones first:
Now, this is an online wallet which allows you to participate in myriad functions. You can deposit, store, transfer, and withdraw funds to various sites. However, PayPal only deals with fiat currencies, that is government or national currencies. Hence, it is compatible with fiat to crypto exchanges and online brokers like eToro.
One of the most popular and easy methods is by payment through Credit and debit cards. It lets you directly make payments from your account to the relevant exchange.
However, there might be a rare possibility of countries blocking credit cards. In that eventuality, a direct bank transfer becomes the plausible way out. If one is operating with an online broker or dealing with a fiat to crypto exchange, the transfer is instant.
The original method to facilitate crypto trade, digital tokens are the only way out if a crypto-only platform is being used. In that case, one needs to have access to a crypto wallet, from the transaction needs to take place.
Fees that matter
If it’s a digital token, transfers are free of cost. However, if credit, debit or bank transfers are taking place, then the fee may vary. It usually is $60 to 0.100%.
PayPal is another popular option but with a withdrawal fee amounting to $25.