Did you know that more and more brokers and exchanges are accepting cryptocurrency as a deposit method? That’s right. You can use Bitcoin, Litecoin, and many other coins and tokens to buy, sell, and trade crypto.
In comparison to forex or stocks, the crypto space is still brand new. It’s in its adolescence and is an exciting arena bursting with excitement and innovation. When people head to trading platforms and exchanges, they’re used to paying up front with fiat currency like GBP or USD. But, as more and more people become familiar with the world of cryptocurrency they want something else.
They want to buy and trade crypto WITH crypto. If that’s what you’re looking for, then you’re in the right place.
Top 23 sites for buying, selling and trading crypto with crypto
This is the toplist with the best sites to buy, sell or trade cryptocurrencies using any type of crypto. To learn more about why a certain site is ranked the way it is, you can read our review by clicking the review button.
We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
Top 19 casinos with support for crypto
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- 1 Top 23 sites for buying, selling and trading crypto with crypto
- 2 Top 19 casinos with support for crypto
Cryptocurrency is one of the newest technologies that has made it easier and safer to send money online. Crypto has altered the global financial paradigm. Essentially, it’s money that only exists online in the digital space. Unless you use a hardware wallet of course!
By using cryptocurrency to deposit on broker sites and exchanges, people can also start trading easily and transactions are fast and secure. However, if you’re unfamiliar with the world of cryptocurrency, it might be difficult to understand at first. You may be uncertain about how to acquire and utilize cryptos online.
Because of this, we’ve put together these detailed steps on how to use Bitcoin and more for deposits and online trading.
+ It’s decentralized. Since there’s no central body in charge, no one can take your crypto or freeze your account.
+ Crypto is sometimes more convenient when you’re looking to trade for similar assets.
+ Since the private details of a crypto wallet are not public some people feel safer using it to deposit.
+ Cryptocurrency’s transaction costs are fast and cheap. If you’re using a decentralized network, there are usually no fees.
+ Often non-taxable. Although the tax rules for digital assets are always in flux, many countries still don’t tax it as income.
– Crypto is prone to price swings, and the price of a crypto asset can fluctuate enormously on a daily basis.
– This is a work that is still in development. Even though it has been around for a long time, cryptocurrency payments can be improved.
– It’s not a ‘traditional’ mode of financial transaction. There are times when using crypto as a payment mechanism is not possible.
– The anonymity that cryptocurrencies offer is sometimes linked to illegal activities by those not well versed in the space.
What is crypto?
Cryptocurrency is a type of digital or virtual currency that is protected by encryption. This makes it hard to use fraudulently. Crypto works using blockchain technology. This is a distributed ledger within a distributed network of computers. A distinguishing characteristic of crypto is that they are often not issued by a central authority, which potentially renders them resistant to government meddling or manipulation.
Which cryptos exist?
When people speak about cryptocurrencies, everyone talks about Bitcoin. But, there are literally hundereds or even thousands of different alternatives to choose from when it comes to digital currencies. All other cryptocurrencies are known as ‘altcoins‘, which is basically shorthand for alternatives to Bitcoin.
Even though the most famous crypto was the first major one to hit the market (in 2009), many others have become very popular since then, even though their brand name isn’t as recognizable. These include:
- Ethereum (ETH)
- Ripple (XRP).
- Binance Coin (BNB)
- Solana (SOL)
- Cardano (ADA)
- Dogecoin (DOGE)
- Polygon (MATIC)
- Polkadot (DOT)
And many, many more.
Cryptocurrency is among the most affordable and efficient methods of depositing funds into your exchange account. Traditional methods such as debit cards sometimes involve extra costs for processing. This is also the case with bank transfers, especially if it’s from one fiat currency to another. For example, when moving USD to a EUR account you will most likely be charged for the conversion. You don’t need to worry about this when using crypto for deposits. Sometimes, cryptocurrencies require ‘gas fees’, which is token compensation for validators.
Transaction speeds for crypto
One of the biggest downsides to using traditional deposit methods is speed, which can take anywhere from a few hours to several days dependent on a variety of factors. Eager traders have a significant advantage when it comes to the speed at which their deposits are processed when they use cryptocurrencies. Each and every transaction on a blockchain is immediate and fast.
Crypto Deposits: How to Do It?
Here’s a step-by-step guide to purchasing and using cryptocurrency to deposit online.
1. Choose and create a crypto wallet
You need to create a crypto wallet if you don’t already have one. Like a regular wallet, a crypto wallet is an important place to store your cryptocurrency where no one else can get to it. Many platforms such as Coinbase and Binance will give you a wallet for each crypto when you buy it.
2. Purchase crypto
After making an account and giving the necessary information, it’s easy to use a credit or debit card to buy cryptocurrencies. Once you have it you can then use it as you wish. In this case, depositing it on an exchange.
3. Transfer cryptocurrency to your chosen exchange
There’s always an option for sending and receiving crypto on every exchange or broker. Simply follow the instructions provided. It usually involves either scanning a QR code or inputting a wallet address manually to transfer your coins from your wallet to their site.
Which countries use crypto?
There isn’t a ‘one-size-fits-all’ rule here. It depends on the specific trading platform you’re using to make a deposit using crypto. And, laws and regulations are often changing as the space evolves and matures. So, it’s best to just check the terms and conditions of the sites you use.
What’s the reputation of cryptocurrency?
Adoption of cryptocurrency among both the public and institutions is rising at a rapid rate. In the grand scheme of things, it’s still in its early years, maybe like the internet in the late 90s. One day using crypto in our day to day lives might be as commonplace as using Amazon. When it comes to trading, our advice is that you should only ever invest capital that you are prepared to lose because cryptocurrencies are extremely volatile and can involve high risk.
Can I change my account’s currency?
Yes, it is possible to convert between cryptocurrencies on most platforms.
Can I make a deposit using cryptocurrency?
Yes, you may make deposits with an exchange or broker that accepts crypto for deposits. You can find these in our toplists a bit further up the page.
Can I use different deposit and withdrawal methods?
Yes, you may utilize multiple deposit and withdrawal methods.