Platforms

Cryptocurrency Trading and Buying

Those who wish to invest/buy Cryptocurrencies themselves and try to ride the waves of fortune better be prepared for the troughs that will no doubt be encountered too. Whilst there have been significant profits to be made on Bitcoin (BTC), Ethereum (ETH) and many others in the past. and maybe in future too, there have also been many people who got in late just before a crash and instead of holding their nerve and sitting it out, they bailed out and lost a significant sum.  The secret of course is no secret - buy low, sell high and buy in again after it drops! Repeat as many times as possible!!  This is exactly what Qubit Life do for you with automated bots.  It's exactly the same as happens with Stocks and Shares and whilst they can be volatile too of course on the back of announcements, they tend not to vary with quite the same volatility as cryptocurrencies. AS with any investment, it is up to YOU to do your own due dilligence investigations and don't risk more than you can afford to lose, or tie up whilst you sit out a trough.

There are a number of platforms where you can buy and trade.  I have mostly used Binance and Bitmart to buy cryptocurrencies.  I trade in a number of cryptocurrencies and various stocks on eToro at a low level for a bit of fun, not that I want to lose anything!!  

• In all cases you will need to provide authentication information as to who you are - usually a Passport jpg and sometimes a proof of address. 
• Different types of authentication are required for different levels of depost/withdrawal and trade etc.   Authorisation usually takes place fairly quickly, allowing you to buy and trade and there will be different limits set based on your level of authorisation. 
• Some platforms will let you fund using a credit or debit card.  Some allow a bank transfer.
• There will be fees charged for deposis and withdrawal so it's important to take those into account too. 
• You will usually be provided with a free Wallet linked to your account.
• If you choose to withdraw and keep your Cryptocurrency safe yourself, you will need either an online wallet or you can buy a hardware Wallet. 
• If you are buying a fringe/speculative cryptocurrency then make sure the Wallet you buy is able to store the different types of cryptrocurrencies and tokens you hold. 
• I would recommend only buying well recognised Wallets that have been proven over time to be secure and trustworthy. 
• There are of course scammers and hackers who are attracted to the potentially lucrative cryptocurrency world. It is important to keep all passwords and recovery codes secure, or else you will not be able to access your Wallet and what it contains. You don't want to be the next person in the headlines who has $200m in cryptocurrency that you can't access!!!

Platform options

eToro

• A multi-asset platform: more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities.
• Trade real and CFD Stocks: A variety of stocks in which to invest. Own the underlying assets or use CFDs to apply leverage and short orders.
• Only has a limited number (18) of the main cryptocurrency coins and tokens, but this is increasing. Consequently, you won't encounter scam Coins/Tokens here.
• Social trading: eToro users can connect with, learn from, and copy or get copied by other network members in real time! This helps you lean the ropes.
• Copy portfolios: Innovative, fully managed investment strategies containing either financial instruments or traders.

Binance

• Binance is a cryptocurrency exchange that provides a platform for buying and trading various cryptocurrencies. 
• You can buy with credit/debit cards and bank transfer. Different fees apply so check these carefully for the best option.
• As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.
• Binance tends to stick to the more reputable and established cryptocurrencies, so not all the available and more speculative options are listed on their market.

Bitmart

• Bitmart was established in 2017, since when it has had over 2m customers and prides itself on security. 
• You can purchase cryptocurrencies with credit/debit cards.   At the basic level fees are 0.25% maker/taker.
• There are about 200+ high-quality currencies and 400+ trading pairs available. 
• They have 24/7 customer support. 

Coinbase

• Coinbase trades approximately $335b every quarter with over 56m users in over 100 Countries.
• The vast majority of the digital assets are stored in secure offline storage.
• Cryptocurrency stored on Coinbase servers is covered by their insurance policy.

• Coinbase has a number of features that they claim make Coinbase the easiest place to buy and sell cryptocurrency.

Liquid

• Founded in 2014, Liquid is one of the world's largest cryptocurrency-fiat exchange platforms serving millions of customers worldwide.
• It is quick and easy to set up a Liquid Account.
• You can buy BTC or ETH and invest in other cryptocurrencies too.
• Payment is by VISA/MC. Fees are 4.75%.
• They are consistently ranked among the top 10 regulated cryptocurrency exchanges globally based on daily traded spot volume with deep BTC/JPY liquidity.
• They are focused on providing a great user experience & world-class service levels.

Liquid's mission is to build a secure and progressive cryptocurrency ecosystem that suits all market participants.

Paxful

• Paxful was launched in 2015 with its headquarters in Wilmington, Delaware.
• The company has been growing strongly since then and offers a trading fee of 0.5-1.0%.
• It provides users with the chance to buy and sell Bitcoin with a withdrawal fee of 0.0005 BTC.
• The company is very user-friendly and accepts over 300 payment methods such as debit or credit card, PayPal, Western Union, and several other local payment methods. This is many more than the others
• It has one of the best user interfaces and low rates that favour the user.

I was attracted to looking at Paxful due to the large number of options for deposits to buy.  However until a user has proven themselves, trades are often very unfavourable to begin with, but appeared better thereafter. Due to the initial extortion rates I was first offered I found another way - Binance.  Although I set up an account, I haven't used Paxful personally.

Gold/Silver/Platinum/Palladium

BullionVault

For those who want to spread their investments and risk beyond cryptocurrencies, BullionVault allows you to buy gold, silver, platinum and/or palladium at the best online prices.

• The world's largest online investment gold service.
• Takes care of £2.9 billion for more than 100,000 users. 
• It is part-owned by both GBIT and Augmentum Fintech plc.
• Buy your gold, silver, platinum and/or palladium 24/7 online.
• Keep it safe, secure and insured in your chosen bonded facility in one or more different locations around the world.
• You can also withdraw your physical bullion and hold it yourself if you so choose.

7K Metals

A members-only venture that allows members to buy gold and/or silver bullion at dealer prices for any amount however big or small. They have been established since 2016. 

• Collectable gold/silver coins chosen by experts from limited mint runs all round the world. Coins can rise in value for their collectability regardless of the bullion prices.
• Monthly saver option ensures you keep putting a bit aside every month.
• Have your bullion and coins shipped to you if you prefer, or they can be kept in storage (some coins cannot be stored so must be sent to you).
• Referral commission for bringing in new members.

Cryptocurrencies

Whilst I have kept most of my dabbling in the mainstream cryptocurrencies, this one - GSX - caught my eye. Unlike most other cryptocurrencies that rely on computer mining this one is actually backed by real asset mining in the form of various metals such as Gold initially but with Copper and Lithium planned for the future.  All of these metals have uses in electronics and  will be in increasing demand as the world becomes more automated and transitions from fossil fuels to batteries.  Demand for these metals is likely to outstrip supply. 

GSX, along with another cryptocurrency called Apollo, are also linked to the planned new Social Media platform called Stratus.  It therefore seems far more tangible with real asset backing than other cryptocurrencies.

Click on the image below and if you like what you see, keep an eye out for the next round of GSX to buy.  Apollo and GSX are already available to buy and sell on Bitmart.