The democratization of crypto-currencies, still unknown to the general public a few years ago, has allowed the emergence of new platforms dedicated to crypto. However, some Crypto Exchange platforms are better than others. Investing in cryptocurrency is now as easy as buying a stock. In this comparison, we offer you the 4 best applications for buying cryptocurrencies in 2022, according to our Connect Banque experts.
Even though more and more conventional players such as banks are starting to offer to buy cryptos, their fees are often unattractive. This is why, for you, the Connect Banque experts have analyzed the applications or brokers to buy crypto online, also called crypto exchanges (platform for buying crypto-currencies online).
Most crypto trading apps have made the switch to simplicity with the fewest steps to complete before getting started. This is surely due to the fact that digital currencies are perceived as complex because of the complex blockchain system and their unpredictable and unjustifiable value if not by the principle of supply and demand.
So, what is the best platform to buy cryptocurrencies for France in 2022? What is the best crypto broker?
Thus, with our comparison of crypto platforms, we will answer the following questions: How to buy bitcoins and other cryptocurrencies? How to get bitcoins (BTC)? What are the fees for buying bitcoins on the best cryptocurrency platforms?
What is a cryptocurrency platform or app?
Cryptocurrency trading platforms, also known as Brokers or Crypto Exchanges, are players that allow individuals to invest in a cryptocurrency that is part of its catalog. To do this, he will only have to fill in a few mandatory steps to authenticate his owner. There are a huge number of cryptocurrencies these days, but the majority are unknown to the general public. The only ones that have managed to really stand out are Bitcoin (BTC) and Ethereum (ETH) but others will surely hatch tomorrow.
Thanks to these applications or platforms, you can easily start building a portfolio of varied digital assets, by investing in cryptocurrencies or by diversifying your sources of investment. For this, many solutions are available to you, however, it is difficult to say which is the best since it will mainly depend on your use and the amount invested to buy assets. It is from this point of view, similar to the system of exchange platforms for stocks and ETFs. Shares are traded on platforms that offer various savings management services, such as baskets of shares, promising shares or, on the contrary, shares that risk falling due to an announcement or other disruption. .
So how does Bitcoin (BTC) work, for example? When you buy Bitcoin, you get the equivalent of the amount invested in euros in Bitcoin according to the value of the cryptocurrency at the time of purchase. This price fluctuates constantly depending on supply and demand. If the price of Bitcoin goes up you earn money and if it goes down you will lose it, nothing very complicated so far. This is due to the fact that the number of Bitcoin is limited, we cannot create Bitcoin indefinitely so the adjustment is not made by the quantity in the event of high demand, but by the price which explains the astronomical outbreaks that known this crypto.
And what is blockchain? The Blockchain is the technology that makes it possible to store and mutually share information in real time without having to centralize it on a server. This technology has become revolutionary because it is exceptionally fast and secure. In addition, its technological outlets are not only concerned with securing data on cryptos, but can be extended to all of society.
As you will have understood, investing in a crypto-currency is not what one might call a “safe” investment in terms of loss of capital as funds in euros are. You may withdraw less money from the platform than you put in. This is the case, for example, of people who bought Bitcoin when it reached its peak in value. This is why, to remedy this problem, the ideal is to diversify its sources of investment as much as possible.
One of the other advantages raised when talking about cryptocurrencies is the fact that it is not a financial asset that is not linked to a traditional banking system. It is an asset that governments and other powers cannot influence through monetary policies. This is also one of its dangers since this currency cannot be traced, so it is ideal for feeding any kind of parallel traffic (dark web, terrorist financing, etc.) which could push towards more regulation in the future.
How is the value of cryptocurrencies determined and what fees are associated with it?
Most stock market assets (ETFs and stocks) are based on more or less real values. That is to say that a company is rated according to its ability to meet demand over the long term. This capacity will depend on the company’s production capacity and its supply risks, the quality of its products or services and the popularity of the brand. These are the factors that influence stock prices, although in detail there are hundreds of them.
As we have explained, when it comes to cryptocurrencies, this value only resides on demand since supply is limited. It is therefore the principle of rarity which makes it possible to explain the variations in value and nothing more. It is she who will allow you to resell your Bitcoin for more than you paid for it. If demand increases your unit of Bitcoin (BTC) will cost more and vice versa. However, it is very difficult to predict the evolution of this value since it depends on external factors. For example, some companies for a time accepted payments in crypto-currency, then a few months later no, countries even decided to choose crypto-currency as a reference value for their economy. In short, the value of bitcoin is set in real time,
It is important to know that carrying out a transaction on the blockchain is not free. Each transaction is subject to fees directly imposed by the blockchain system and which make it possible to self-finance its security. This commission is paid back to the mining ecosystem which makes it possible to calculate and secure all operations in real time, but also to reward staking. There is no point in looking for a crypto platform that will not charge you any commission since it itself will have to settle the transaction on the blockchain.