Coindirect: The US’s popular cryptocurrency exchange
Coindirect has a wide choice of digital currencies to trade, with over 30 altcoins currently available to buy and sell. The exchange offers easy access to Bitcoin for both buyers and sellers and aims to simplify the whole process of trading cryptocurrencies, making it a wise choice for beginners as well as more experienced traders across the US and the rest of the world. Coindirect provides traders of all levels with a secure trading platform, instant transfers and full wallet support. An extra convenience for Coindirect customers is that users can trade multiple currencies from a single account, which is fast and easy to set up online.
This exchange allows customers to purchase digital currencies online using their local currency and also allows for trading between digital currencies. Due to a high trading volume on Bitcoin, and many other currencies, customers generally enjoy instant transactions with no wait for approval. Coindirect offers an escrow system that aims to simplify the process of trading Bitcoin and other altcoins. Prices are locked in at the point of sale, and trading fees and commissions are included in the market price you will see on the exchange, meaning you pay exactly what you see. Coindirect is registered with the Financial Conduct Authority and offers safe and regulated transactions for its global clientele.
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Features of Coindirect: This peer-to-peer platform connects Bitcoin buyers and sellers
Cryptocurrency trading has always been a risky business, with the opportunity to win big and lose big. The huge rise in value that Bitcoin saw in 2017 was accompanied by a rise in other altcoins, with an increase of up to 39,000% in value, but sudden drops in value have happened too, making investment in digital currency a high-stakes business. For this reason, many investors in the US think it is vital to use a reputable peer-to-peer trading platform like Coindirect, which provides buyers and sellers across the globe with a reliable and secure escrow service.
Coindirect makes it easy for customers to buy, sell, exchange and store over 30 digital currencies from the better-known ones such as Bitcoin and Ripple to more obscure coins with a lower trading volume. The international setup of the company allows US traders to trade with their peers in the UK, Australia, South Africa and many other nations. There are convenient payment methods available, and conversion to the digital currency of your choice is fast and easy.
Opening a trading account at Coindirect is a quick and straightforward process, but customers do have to provide verification, which is simply a sign of the exchange’s security and transparency. There are three levels of verification, which provides Coindirect with the ability to cater to customers’ needs and inconvenience them as little as possible. Each extra level of verification unlocks more features and removes or reduces buying and selling limits.
Payment methods and fees at Coindirect
To set up an account, simply go to the website and click on ‘Wallet.’ US customers should make sure they are on the US version of the site. Look at the bottom left hand corner of the website and you should see the Coindirect logo with a small US flag underneath. If for any reason a different flag is showing, you are on that country’s version of the website. Next to the flag is an option to ‘Select Country,’ and clicking on that will allow you to select the US, or any other country in the extensive country menu. Be aware that on different devices, you may have to search around a little to find this function, but it is basically in the footer of the website, so scrolling to the bottom of the screen on any device should bring you to it.
When you have opened an account, you will need to fund it, which you can do using a wire transfer or online payment system. Funding direct from your bank account in local currencies is supported in the US and in over 20 other countries. You will be able to set up an online wallet system to make buying and selling cryptocurrencies easier and more convenient.
How to purchase Bitcoin on Coindirect
Transaction fees are low, starting from just 0.2% for digital currencies. Fees on trading fiat currencies are slightly higher. In addition, the fees are built into the market price, so you can see exactly how much you will be spending on each transaction.
Here is exactly how to purchase Bitcoin on the Coindirect website:
- Make an account or log in to your existing account
- Click on Buy Coins
- Scroll down to find Bitcoin or any other currency you want to buy
- Select the trader you want to buy from
- Enter the quantity of Bitcoin you want to buy
- Select a payment method
- Click on Process Order
- Make the payment to the account provided
- Click on I’ve Paid
This will trigger an instant order, and your currency will be delivered to your account within the next 90 minutes. Remember the last step, as if you place an order but do not confirm that you have paid, the order will be canceled 90 minutes later, and your coins will not be delivered. Be careful not to click the I’ve Paid button until you have actually made a payment, as this can result in your account being blocked.
Security and safeguards used at Coindirect
As you would expect from a reputable international coin exchange, Coindirect puts security measures in place to protect customers. By using an escrow system, the exchange does not directly buy or sell Bitcoin or other currencies from buyers and sellers. As a peer-to-peer network, it connects two individual investors, one of whom owns the Bitcoin and the other who intends to purchase it. The whole process is moderated by an escrow. The escrow process locks the currency that the buyer has purchased from the seller. The seller can no longer access the funds but still has the power to release it to the buyer, which can be done as soon as payment has been made. If the buyer fails to make the payment within the stipulated time, funds will not be released, and this will release the coins back to the seller.
Coindirect also protects customers by using two-factor authentication to prevent unauthorized access to accounts. To use two-factor authentication, an app must be downloaded to the device that is linked to your Coindirect account. This app generates a code every 20 seconds. The code must be entered to gain access to your Coindirect account.
Coindirect further ensures safety and security through its registration with the Financial Conduct Authority and its compliance with anti-money laundering and KYC requirements. This means that transactions are regulated in the US and in every other country they operate in. CFT (Countering Finance of Terrorism) procedures are also in place, offering accountability and transparency.
Benefits of choosing Coindirect: Why this exchange is popular with US customers
Coindirect provides an easy, secure and reliable system for traders to buy and sell Bitcoin, as well as many other digital currencies, all from a single platform. This may be the best Bitcoin exchange in the US, but it also comes with a wide and increasing range of other popular cryptocurrencies, making it the obvious choice for US crypto investors who are looking for variety, versatility and opportunity.
To sum up, this is what Coindirect offers customers:
- The ability to buy, sell and convert Bitcoin and a wide range of other cryptocurrencies.
- Sellers can set their own price, giving buyers the opportunity to search for the best price on any currency at any time.
- A single platform allows customers to buy, sell and trade a range of currencies, all in one place.
- The facility to use fresh wallets for trading Bitcoin and other cryptocurrencies securely and conveniently online.
- Quick and easy transfers using the online wallet system to conveniently send coins to and from third-party wallets with just a few clicks.
- The security of an integrated escrow system to protect buyers and sellers from fraudulent traders and non-payment.
- Two-factor authentication to keep online accounts, and the funds in them, as secure as possible.
These are the reasons so many experienced crypto traders consider Coindirect the best Bitcoin exchange in the US.
Buying and selling Bitcoin at Coindirect: How to carry out transactions online
Buying and selling Bitcoin online through Coindirect is a fairly straightforward and intuitive process. Once you have made an account and verified your identity, you will need to pick Bitcoin as the currency you wish to trade and choose the local currency you want to use for purchase. Once you select your buying currency, you will see an offer for the currency you have chosen.
Each offer available should display the asking price, the name of the seller and his or her payment terms, along with user ratings. To complete your initial transaction, you will just need to fill in the details asked for – namely the amount you are paying, or the amount of Bitcoin you wish to purchase, and the payment method you wish to use.
Selling Bitcoin via the website is also easy and intuitive. Simply click on the Sell Coins tab when you have currency you wish to sell and follow the simple instructions, filling in details of the type of coins you want and selecting the wallet that buyers need to transfer coins into to make payment. Remember that when a buyer makes an offer, your coins go into escrow and you need to release them once payment has been made. Selling coins at Coindirect is arguably even easier than buying them!
Precautions to put in place when trading Bitcoin at Coindirect
Even though the process is very simple, it is important to be careful when buying and selling Bitcoin at Coindirect. Be aware that attempting to send coins to a wallet that is incompatible will cause them to be ‘lost’ in the blockchain, which is obviously a very undesirable state of affairs! For this reason, it is important to manage your Coindirect wallets carefully and ensure that payments are always sent to the correct wallet. There are a few helpful tutorials and videos available in the Help section of the website and on the Coindirect blog. It is certainly well worth taking some time to ensure you know the procedures before jumping in and trading.
Also remember that while Coindirect fees are worked in to the market price you see, it is possible that any third-party network used with Coindirect (including third-party online wallet systems) may charge extra fees, depending on their individual terms and conditions. It is advisable to choose a wallet system within the Coindirect system. You will see wallets in the wallets tab once you have made an account. Initially, you will tend to see Bitcoin, Ethereum and USDT wallets, but if you start buying any other digital currency via the site, a wallet for that currency will automatically be added to your wallet options. You can also add extra wallets for any available coins you are interested in, as needed.
Is Coindirect the best Bitcoin exchange in the US?
In our opinion, and that of many US Bitcoin traders, Coindirect really is the best Bitcoin exchange in the US. The exchange offers a secure and reliable service, excellent security, a very intuitive interface and a wide range of opportunities. Trading in digital currencies is always a high-risk (and of course potentially high-reward) activity. The markets are volatile and unpredictable. As many traders know, one way to increase odds in your favor in volatile and unpredictable markets is to diversify your portfolio, and Coindirect offers an easy way to do this, with a wide range of digital currencies, available to buy, sell and trade, all from one convenient, easy-to-navigate platform.
Other advantages of Coindirect include their low transaction fees, conveniently included in market prices, high levels of security, transparency and regulation, and a well-designed, user-friendly interface. The exchange allows for direct funding of accounts from your own bank account, and it is easy to exchange different cryptocurrencies through the site, which makes it a good option for new investors who do not yet own any altcoins. Coindirect is, then, an excellent choice for cryptocurrency investors at all levels, from complete beginners to more experienced traders.