The biggest concern of every trader when entering the crypto world is how they can convert their regular or any currency issued by the government into digital assets. Not every crypto exchange in the market accepts fiat currencies like Dollars.
Fiat currency is basically the currency that is issued by a government of any region. However, is not supported by any intrinsic value. The classified example of fiat currencies is the EUR, USD, GBP, AUD, JPY, and any other similar currencies. If you are a new trader, it can be confusing for you to find the best crypt exchange. That supports or accepts fiat currency. In this guide, are enlisted some of the most well-regarded and credible crypto exchanges for both beginners and professional traders.
List of Best Crypto Exchanges That Accept Fiat Currencies
This list highlights some of the well-known crypto exchanges that support fiat currencies.
Coinbase is one of the safest crypto exchanges of fiat to crypto transfers. As it has a strong and well-protected trading system and software. The exchange is known for it valued trading services across both the circles of advanced and new traders. The exchange has two different trading versions to facilitate users according to their experience level.
Coinbase Pro is for advanced traders and provides complex tradable products and options like futures trading. Coinbase crypto exchange was one of the first crypto exchanges in the world and it is completely US based. Additionally, with its discounts and rewards programs the exchange has done quite well with maintaining a remarkable reputation the market. The exchange also has a comprehensive knowledge base. For new users so that they won’t have any problem along the way. So, without a doubt you can take Coinbase as an ideal exchange for beginners. Because the process is designed to simplify the complicated aspects of cryptocurrencies.
Coinbase implements industry-leading security protocols to safeguard user deposits. That being said, there are always some unseen factors associated when trading crypto assts, so it is important to follow best practices for keeping your account digital assets safe.
According to platform professionals, 98% of user assets are stored in cold wallet, supported by both paper and digital backups. Moreover, the platform utilizes bank-standard encryption and security for its global website. Additionally, all user accounts must activate two-factor authentication, to prevent hackers and scammers from logging into their accounts.
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Another highly advanced and credible crypto exchange that supports fiat to crypto payments is CoinMama. The exchange is completely safe and regulated so users can trade their assets without any worries. The exchange provides a smooth and easy way to buy crypto assets through the homepage of its website. The fee rates on the exchange may vary according to market adjustments. However, the exchange also charges you an additional 5.9% processing fee if you choose to pay via credit or with debit card.
This ability to make payment through credit or debit card. It is quite impressive for users across the market because it saves them a lot of time and unnecessary hustle. A user on this exchange can easily verify their account with an image of their national ID card or passport and once you are done with account verification you can easily purchase up to $15,000 worth of cryptocurrency.
Another valued and safest crypto exchange is CEX in this list of fiats supporting platforms. The exchange also offers quoted rates just like CoinMama. The user on this trading platform is quoted with selective amounts of cryptocurrency such as $200, $500, and $1000 amounts. However, there is also a custom option.
To get started on this exchange traders first have to set up an account before making a purchase. Once they are all set with getting their account approved. User can easily purchase cryptocurrencies with their debit or credit cards. Although, the exchange has strict limits applied for users regarding the size of their transactions.
Supported crypto assets on CEX crypto exchange include Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Dash, Litecoin, Ripple, Zcash, and Stellar Lumens. With its interactive UI CEX is the easiest crypto exchange to buy digital assets from although, CEX does charge a 7% fee if the purchase is made through debit or credit card.
Are Fiat to Crypto Exchanges are Suitable for New Traders?
Some crypto exchanges in the market are best suited for advanced traders whereas others will be more beginner friendly. A credible fiat to crypto exchange will not only have a good market reputation but it also offers support to your local currency. As most of the fiat to crypto exchanges in the market are beginner-friendly comprising simple interface and around the clock customer support.
Before diving straight into typical crypto exchanges thatsupport fiat currency, do your research and gain some experience to avoid any risks.