Mar. 24, 2021

EXCHANGES

EXCHANGES
 
IF YOU ARE NOT ON THE TABLE YOU ARE ON THE MENU
 
Exchanges are fiat currency on-off-ramps to cryptocurrency. They make it possible to buy / sell crypto currency for fiat currency. If you are not at the table in Bitcoin you are on the fiat currencies menu, as the printers go Brrr inflation is eating you alive. From the exchange Bitcoin can be transferred to cold storage hardware wallets or sent to different addresses. Many of them offer additional services such as interest bearing accounts, trading and even credit cards with rewards paid in Bitcoin.
All the exchanges in this post are regulated thus will request KYC/AML. The “NO KYC” blog post will address how to buy, sell, mine and earn Bitcoin without giving up your information thus staying true to the first principles of not getting a 3rd part involved.
 
“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third part.” Friday 31st October 2008 18:10:00 – Satoshi Nakamoto
 
Paxful
 
Paxful is an easy to use leading Bitcoin exchange in Africa. Through Mpesa, PayPal, Skrill, P2P and bank transfers just to mention but a few, you can stake your claim by buying Bitcoin.
 
It is the first in this list as it truly has Africa at heart, with a target of building 100 schools via #BuiltWithBitcoin initiative 1 of which is already complete ready to be open in Machakos County, Kenya. The CEO Ray Youssef is the definition of a passionate founder always active and ready to provide value especially on Twitter.
 
Luno
 
From South Africa with love, Luno is a fast and safe route to Bitcoin. It is available on Google Play Store with over 6 million customers having processed 17 Billion USD.
 
 
This is a power house when it comes to exchanges. It has a major presence in Africa available to download for mobile and desktop with a user friendly interface for beginners. With 24/7 support, you can buy Bitcoin at your own convenience anywhere, anytime.
 
PayPal
 
Yes, PayPal is a way to spend, send and receive money. You can now buy Bitcoin on PayPal and as it is integrated to Mpesa as well, this makes it an extremely convenient choice as most people have used it before.
Learn how to go about this on the quick and easy steps on the PayPal YouTube channel for free.
 
Swan
 
This is a leading exchange that is 100% dedicated to the Bitcoin echo system making it one of the best ways to buy Bitcoin. With automatic recurring and instant buys using your account or wire, dollar cost averaging to buy Bitcoin is at your convenience 24/7.
 
Their YouTube channel Swan Signal is worth checking out especially if you are not on clubhouse to get insights on Bitcoin from recorded interviews with industry experts, stake holders, experts and professionals in the echo system. I personally recommend the “BTC in Emerging Markets” episode. It is a clubhouse recording with Paxful CEO giving great insights on Bitcoin in Africa.
 
Last but not least Yan Pritzker, co-founder and CTO of Swan is the author of “Investing in Bitcoin” which you can get for FREE on their website or social media handles.
   
Kraken
 
Get an intuitive experience with a well built and designed Bitcoin exchange from day 1. Kraken provides world class financial services by maintaining full reserves and highest standards of legal compliance.

 
This is the standard in regards to exchanges being compliant with regulators having successfully completed SOC 1 Type 2 and SOC 2 Types 2 forensic audits.
It is a next generation exchange and custodian that allows customers to buy, sell and earn interest in Bitcoin. You can secure your account further with a hardware key using WebAuthn.
 
BlockFi
 
With BlockFi you can earn interest on your Bitcoin as you also buy more and borrow against your holdings. This is truly one of the best options for Diamond hands (Long term Bitcoin Hodlers) to be in.
As if you need more incentives, they also have a credit card. Yes, you get .25% trading volume rebate and $250 after spending $3K all paid in Bitcoin.
 
CONCLUSION
 
When it comes to exchanges to buy/sell Bitcoin with numerous other financial services as outlined above you are clearly spoilt for choice. More exchanges will be featured in the ‘NO KYC’ Bitcoin article coming soon.
 
BitcoinMtaani is another excellent source for more free original Bitcoin content 100% FREE
 
Always remember not to store Bitcoin for a long period of time on an exchange or online (Hot) wallet and do not engage in financial services that you have not done sufficient research on e.g. trading. A “Bitcoin Trading” blog post will be uploaded soon.
 
“The ability to gain victory by changing and adapting according to the opponent is called genius.” – Sun Tzu. The financial legacy system is not on your side as inflation is stifling your purchasing power. Switch to Bitcoin, the supreme store of value.