Bitcoin

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Bitcoin currently has the honour of being the most used and best known cryptocurrency, and as such there may be a good chance you are aware of how that digital currency works and what you are going to be able to use it for.

However, if you are fairly new to the ever evolving world of cryptocurrencies then please do make use of the following guide for within it I am going to be giving you an insight into where you are going to be able to buy and sell Bitcoin and lots of additional information too.

As long as you are aware that Bitcoin can be and is a very volatile digital currency at times and are therefore aware that its value can rise and fall at any second, then you may be interested in getting yourself a Bitcoin wallet and then making your initial purchase of that digital currency.

Before you do though please do spend a little bit of time reading through this guide for if you have any questions relating to how Bitcoin works and operates you are likely to find those answered somewhere in this guide.

Overview of Bitcoin

The easiest way to explain to you just how Bitcoin works and operate is for me to present to you a video on which you will be walked through everything that Bitcoin has to offer you and how it works and operates and as such please do watch the following video in full.

You will also find plenty of information on how to use Bitcoin and the many different ways that you can purchase it at any of the many different Bitcoin exchanges that you will need to sign up to at least one of to be in a position to buy and sell your Bitcoins.

Where to Buy and Sell Bitcoin

Being the most used cryptocurrency you are certainly going to find more than enough Bitcoin exchanges at which you can buy and sell Bitcoin relatively easily. Below are some of the most popular Bitcoin exchanges along with a short overview of each of them.

Bitfinex – The number one choice for a huge number of people looking to buy or sell Bitcoin is the Bitfinex exchange and thanks to their multiple different payment methods and currency pairing options they may be the ideal Bitcoin exchange for you to use too.
Bithumb – An around the clock custom support service is always going to be available to you at the Bithumb exchange however thanks to the reliability of their exchange you are probably never going to need to get in touch with that team.
BitFlyer – You will find that the leading Japanese Bitcoin exchange is the one on offer at the BitFlyer exchange you are going to be able to very quickly exchange Japanese Yen into Bitcoin or Bitcoin into Japanese Yen and they do offer a complete service that is very easy to use and utilize too.
BitStamp – The BitStamp exchange is located in Luxemburg and they have quickly established themselves as one of the leading and most used Bitcoin exchanges, if you want to exchange small or even large volumes of Bitcoin then this is an exchange that I highly recommend you use.
HitBTC – There are always going to be Bitcoin exchanges available to you no matter where you live in the world or how you wish to buy Bitcoin and with that in mind another one to add to your ever growing list of exchanges to checkout is the HitBTC exchange.

Top 10 Bitcoin Exchanges by Currency Pairings

In this next section I am going to be looking at the most popular Bitcoin exchanges in regards to exchanging Bitcoin into any other fiat currency or cryptocurrency and/or vice versa.

That information will of course come in handy if you are interested in exchanging any fiat currency or Bitcoin into another other, and want to ensure the exchange is one that can handle any volumes of trades.

  • BTC/USD – The Bitfinex exchange is the number one Bitcoin exchange in regards to the volume of Bitcoin exchanged and turned into USD. By virtue of the fact on average they have a volume of around 12.47% of all transactions performed in regards to turning Bitcoin into US Dollars.
  • BTC/KRW – It is the Bithumb digital currency exchange that is the most popular one by users of Bitcoin who wish to turn their Bitcoin holdings into KRW. A recent review of the volume of transactions made in those currencies revealed they had a volume of 6.74% of all related transactions performed for turning Bitcoin into South Korean Won.
  • BTC/JPY – With an average volume of 5.07% of Bitcoin transactions over a 24 hour period, if you are looking for a digital currency exchange that can turn your Bitcoin into JPY then one to consider is bitFlyer. They are going to allow you to seamlessly exchange any volume of Bitcoin holding and turn it into Japanese Yen via their established and reliable exchange.
  • BCC/BTC – If you are looking for a Bitcoin exchange on which you can turn BitConnect into Bitcoin then based on the daily volumes of transactions one you should consider using is HitBTC for they had, when I checked, a volume of 4.8% of all related daily transactions, therefore making them the most popular exchange for those two currencies pairings.
  • STR/BTC – There are many people it would seem who wish to turn Starcoin into Bitcoin, and if that is something that you are interested in doing then the Poloniex digital currency exchange is the one that has the largest volume of daily trades on those two currencies. They handle on average, at the time of compiling this guide around 2.25% of related daily Bitcoin transactions.
  • BTC/EUR – Many people are looking to trade Bitcoin for Euro and vice versa, and the Kraken exchange is one of the exchanges that do handle a very large amount of those currency pairing transactions each day of the week. In regards to their share of Bitcoin related transactions each day they handle around 1.87% of such transactions.
  • XLM/BTC – Exchanging Stellar Lumens into Bitcoin is going to be a breeze if you use the Bittrex exchange, and you will of course be able to do an exchange the other way around too at that digital currency exchange. They do handle a huge volume of daily Bitcoin exchanges and that volume is on average around 1.79% of all of those Bitcoin related transactions performed over a 24 hour period.
  • ETH/BTC – Ethereum maybe a currency you use a lot and if so if you wish to exchange any volume of that currency into Bitcoin then the Poloniex exchange is probably going to be the one you should make use of. In regards to daily transactions performed in regards to those two currencies they process the largest volume of transactions at 1.38%.
  • NEO/BTC – Whilst the number of people who wish to exchange NEO into Bitcoin is not as high as the number of people exchanging other currencies, there are still many people who do so each day. If you do wish to perform such an exchange then with a volume of 1.45% of all such transactions performed each day, Bittrex are the digital currency exchange that does handle the most transactions.
  • XMR/BTC – Monero can be exchanged and turned into Bitcoin at the HitBTC exchange, and they do have a reasonable amount of such transactions performed each day, with their daily average volume of related transactions being some 0.61%, and as such you should not experience any problems performing such transactions on their exchange.

Keep in mind of course that there are going to be lots of other currency pairings, both crypto currencies and fiat currencies that you are going to be able to exchange at any time of the day or night.

With that in mind please do ensure that you checkout some of the additional guides I have compiled throughout this website, for they will enlighten you on just which exchanges are going to be the best ones in regards to performing any type of currency pairing exchange.

Korbit

Korbit may not be a digital currency exchange that you have heard of or come across before, however if you are on the hunt for a very reliable and robust digital currency exchange then they are one that many people are now using on a day to day basis.

Whist there are no shortages of digital currency exchanges that you can sign up to and make use of these days, you are always going to be best advised to locate and utilize one that is going to be offering you everything you could ever need from such an exchange.

Korbit offer an all in one type of digital currency exchange and as such you are always going to be able to by digital currencies using their exchange and will of course also be able to sell any volume and quantity of digital currency too.

Their mobile exchange is one of the most advanced ones I have come across and one additional benefit you will have coming your way if and when you do decide to use Korbit is that you are not going to be faced with having to pay any excessive fees for using their exchange irrespective of the volumes of digital currencies you wish to buy or sell.

Bitso

Another digit currency exchange that many people are using and using in a very cost effective and hassle free way is the one available from Bitso, and if you are seeking out an exchange on which you can exchange large or even very small amounts of digital currency then there is a lot to like about them.

Having the peace of mind in knowing you are not going to face any long and drawn out delays n regards to getting your digital currency exchanged or face any delays in regards to the amount of time that it will take you to buy any quantity of digital currency is important.

The way in which the Bitso digital currency exchange works and operates is that anyone can very quickly start using it, with the absolute minimum of fuss and Bitso will then rapidly exchange your digital currency or your cash.

You do have a lot of choice of course and can utilize any exchange you wish to use, but when it comes to a fully rounded experience you will be very hard pressed to find another exchange as good as the one offered by Bitso so do consider giving them a try I’m sure you will not be disappointed when you do so.

Frequently Asked Questions

There are going to be plenty of additional questions that you may just have if you are new to the world of Bitcoin or digital currencies in general, and with that in mind this final section of this guide will be giving you the answers to some of the most commonly asked questions about using Bitcoin.

Will I have to use Bitcoin all the time?

Which is the most flexible Bitcoin Wallet?

What can I buy with Bitcoin?

Can anyone with no technical abilities use Bitcoin?

Is Bitcoin expensive to use?

Can I exchange Bitcoin for AUD?

Do Bitcoin exchanges offer apps?

What is the average price of Bitcoin?

Am I wise to invest in Bitcoin?

Are small units of Bitcoin available?

Can I buy Bitcoin using cash?