Coinbase is one of the most popular and reliable cryptocurrency exchanges available, allowing users to invest directly with USD. Currently, you can purchase Bitcoin, Ethereum, Litecoin and more than 30 other coins and tokens on the platform. Moreover, Robinhood has the best selection of cryptocurrencies of any platform other than an exchange platform made specifically for cryptocurrencies. Some broker-dealers that offer stocks, bonds, mutual funds and other investment vehicles also provide the option to buy and sell certain cryptocurrencies.
Robinhood is a great example of a brokerage with cryptocurrency offerings. All investments involve risk and past performance of a security or financial product does not guarantee future results or returns. Securities are offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. Cryptocurrency trading is offered through Robinhood Crypto LLC. Robinhood Crypto and Publisher are not members of FINRA or SIPC and cryptocurrencies are not stocks and their cryptocurrency investments are not protected by FDIC or SIPC insurance. Many financial apps such as PayPal and Venmo now allow users to trade cryptocurrency.
Cryptocurrency exchanges are another popular option for those looking to invest in Bitcoin. Exchanges offer some key advantages to traders. Firstly, they provide the lowest possible total costs for trading cryptocurrency. Secondly, many exchanges do not charge profit margins, which are hidden fees integrated into trading prices.
Lastly, many exchanges offer wallets, allowing users to securely store their cryptocurrencies.