13 Legit Bitcoin Investment Sites (Tested and Trusted in 2023)

As Bitcoin (BTC) continues to become mainstream, more people are increasingly looking for legit Bitcoin investment sites. Investors from the traditional finance industry, including forex, stocks, shares, commodities, and indices, are now adopting BTC as an asset class.

However, for these traditional financial investors and other beginners who want to get involved with BTC investment, the major challenge has been identifying a legit Bitcoin investment site.

Before we provide you with a shortlist of the best Bitcoin investment websites, let us first understand these investment platforms.

What Are Bitcoin Investment Sites?

A Bitcoin investment site is a platform that allows users to purchase and hold BTC over an extended period with the sole aim of building wealth. Bitcoin (BTC), on its part, is a decentralized digital currency for peer-to-peer transactions. It was launched in 2009 by the pseudonymous Satoshi Nakamoto.

Read More: What Is Bitcoin?

Investors can acquire BTC on investment platforms using fiat currencies or other cryptocurrencies. For example, Ether (ETH) can be exchanged for BTC. Bitcoin Cash (BCH) can also be exchanged for BTC. 

These investment sites can also be a lending platform where customers can lend their BTC to other users for a profit.

With that said, let us highlight thirteen (13) legit Bitcoin investment sites featuring crypto exchanges, mainstream BTC platforms, and Bitcoin lending platforms.

1. Binance

Binance is a leading cryptocurrency exchange and blockchain platform that allows users to buy, sell, and trade various digital assets. It was co-founded in July 2017 by the businessman and developer Changpeng Zhao (CZ).

The crypto exchange offers a wide range of cryptocurrencies, trading pairs, advanced trading features, and tools to global users at different levels of expertise. Among its primary assets is Bitcoin.

Features

• Binance Launchpad (A service that allows users to access newly launched coins and tokens.)
• Spot markets.
• Margin trading of up to 125x leverage.
• Leveraged tokens.
• Binance offers perpetual or quarterly futures.
• Interest-bearing savings products

Pros

• Easy-to-use trading platform.
• There are educational materials and support to help beginners familiarize themselves with the platform.
• The market has multiple assets and a comprehensive range of crypto pairings to trade.
• High trading volume.
• There are multiple deposit and withdrawal options for both crypto and fiat currencies.
• Security-centered, with maximum security measures established to keep users safe.
• Multiple trading platforms, including web and mobile formats, cater to different trader experience levels.
• Low or Zero trading fees.

Cons

• The demo account is only available on its futures platform.
• Know Your Customer (KYC) demand for deposits and withdrawals may be inconvenient for users who want to remain anonymous.
• Advanced trading tools on Binance may seem complicated for novice traders.

Sign Up on Binance

2. Coinbase

Coinbase is a publicly traded American cryptocurrency exchange that allows users to buy, sell, and store various cryptocurrencies. The platform was launched in 2012 by its founder and CEO, Brian Armstrong. It is regulated in 40 states in the U.S. and accessible across over 100 countries.

With a wide selection of supported cryptocurrencies, Bitcoin included, Coinbase caters to a diverse range of investors and traders. The exchange also provides additional services like a digital wallet and educational resources, further enhancing the user experience and knowledge in the cryptocurrency space.

Features

• Easy-to-use platform.
• Vault protection to keep users’ funds safe.
• It enables recurring purchases, a feature allowing users to schedule purchases of BTC over time.
• Mobile apps support both Android and iOS devices.

Pros

• It only supports trusted cryptos.
• A simple user interface suitable for beginners and advanced investors.
• There is an availability of multiple crypto-to-crypto and fiat-to-crypto pairs.
• High liquidity.
• Funds insured.

Cons

• Expensive fees.
• Only available in a few countries.
• KYC requirements may track users’ transaction history.

3. Kraken

Kraken is a cryptocurrency exchange platform where users buy, sell, and trade digital assets. Founded in 2011 by Jesse Powell, Kraken has become one of the largest and most reputable exchanges in the cryptocurrency industry. The platform reports an estimated 10 million users.

As an exchange, Kraken provides a platform for users to trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and many others. It offers various trading pairs, allowing users to exchange one cryptocurrency for another or trade cryptocurrencies against fiat currencies like the US dollar, Euro, or Japanese yen.

Kraken is known for its robust security measures and commitment to regulatory compliance. It has implemented security protocols, including encrypted data storage, two-factor authentication, and cold storage for storing funds offline.

Features

• Margin trading (up to 50x).
• Support staking. 
• Mobile application support. 
• Bug bounty.
• Account management program for advanced users. 

Pros

• 24/7 professional customer support. 
• Low fees.
• There are advanced security measures. 
• It supports both fiat-to-crypto and crypto-to-crypto pairs.
• There is high liquidity for all trading pairs. 

Cons

• Fiat deposit confirmation can take up to five business days. 
• Third-party payments, including the use of credit cards, are not supported.

4. Nexo

Nexo is a financial institution and cryptocurrency lending platform that allows users to borrow against their digital assets and earn interest on their holdings. It was founded in 2017 by Antoni Trenchev, Kosta Kantchev, and Valeri Valtchev.

Nexo offers a range of financial services that leverage the potential of cryptocurrencies. One of its main features is crypto-backed loans, where users can deposit their cryptocurrencies as collateral and receive a loan in fiat currency or stablecoins. 

Securing a loan on the platform allows individuals to access liquidity without selling their digital assets and potentially missing out on future price appreciation. Nexo supports multiple cryptocurrencies as collateral, including Bitcoin, Ethereum, XRP, Litecoin, and others.

Features

• Nexo is regulated under EU laws. 
• The platform enables automated crypto loans.
• Free physical debit card (yet to launch)
• It offers military-grade security. 
• Mobile app support.

Pros

• Crypto deposits on Nexo are insured for up to $100 million by industry-leading custodian, BitGo.
• Easy deposit and withdrawal service. 
• Zero fees. 
• Automatic loan approval, no credit checks.

Cons

• Nexo doesn’t support trading or conversion of cryptocurrencies.
• The platform supports many stablecoins but only a few fiat currencies.

Signup on Nexo

5. Bitstamp

Bitstamp is a cryptocurrency exchange founded in 2011. It is one of the oldest and most reputable exchanges in the industry. The platform allows users to buy, sell, and trade various cryptocurrencies, including Bitcoin, Ethereum, and Ripple.

The platform provides a user-friendly interface, advanced trading features, and robust security measures to ensure the safety of customer funds. Bitstamp is regulated and compliant with financial standards, offering individual and institutional investors a trusted and transparent trading environment.

Features

• Simple and intuitive user interface.
• Mobile app support.
• Affiliate program.

Pros

• Near-zero fees and liquidity.
• There is an availability of tools for advanced traders.
• Multiple altcoins are available for trading.

Cons

• International wire transfer takes 2 to 5 business days to process and complete.
• Deposits and trading fees are expensive.
• Slow verification process.

6. Gate.io

Gatei.io is a popular cryptocurrency exchange platform that enables the trading and storage of digital assets. Established in 2013 by Lin Han, the exchange has grown to become one of the leading cryptocurrency exchanges on a global scale.

The cryptocurrency trading platform offers several features and tools to facilitate seamless transactions. They include place market orders, limit orders, and stop-limit orders to execute trades according to their preferences. There are also advanced trading tools for sophisticated users.

Features

• There are staking and lending services.
• There is two-factor authentication to bolster security.
• Native cryptocurrency and benefits.
• Spot and over-the-counter (OTC) trading.

Pros

• User-friendly interface.
• Competitive trading fees.
• Global accessibility.

Cons

• There are only a handful of available cryptocurrencies.
• There is limited fiat currency support.
• Limited educational resources.

7. eToro

eToro is an Israeli social trading and investment platform that allows people to buy and sell various financial assets, including stocks, cryptocurrencies, commodities, and more. It provides a user-friendly interface and innovative features that make trading accessible to beginners and experienced investors.

One of the unique aspects of eToro is its social trading feature, which allows users to interact with and learn from other traders. Users can follow successful traders, see their trading activities, and even automatically copy their trades. Therefore, it becomes possible for individuals with minimal trading knowledge or experience to participate in the markets and benefit from the strategies of more experienced traders.

Features

• Wide range of educational materials.
• Social trading/copy-trading.
• Diverse asset selection.
• Multiple account types.

Pros

• The exchange offers a demo account.
• There is a community and social interaction.
• The platform has a proven record of regulatory compliance.

Cons

• High trading fees.
• Inactivity fees are imposed on a year-long dormant account.
• Geographic limitations.

8. Bitfinex

Bitfinex is a prominent cryptocurrency and derivatives exchange catering to long-term Bitcoin investments. Headquartered in the British Virgin Islands since 2012, Bitfinex offers several services, such as margin trading, OTC trades, and advanced order types. The services are available to Android and iOS users.

Despite experiencing two security breaches in 2015 and 2016, the exchange has strengthened its security measures to safeguard the platform against potential hacking attempts. Bitfinex employs various security protocols to ensure the integrity and safety of its operations.

Features

• Margin trading.
• Margin funding.
• It offers lending services.
• It supports the staking of cryptocurrencies.
• A honey framework that allows users to execute customized algorithmic orders.

Pros

• Low fees. 
• user-friendly platform. 
• Multiple assets and services are available.
• Many order types. 
• It operates in several countries.

Cons

• Credit card deposit or withdrawal options are unavailable.
• Bitfinex is unsuitable for retail investors who just want to buy Bitcoin.
• The platform has a lengthy identity verification process.

9. Coinmama

Coinmama is an Ireland-based cryptocurrency exchange that allows users to trade 18 cryptocurrencies, including Bitcoin and Ethereum. The platform streamlines the trading process for users by facilitating fiat-to-crypto transactions via credit and debit cards.

Coinmama operates as a non-custodial exchange, meaning users have complete control and ownership of their purchased cryptocurrencies. It provides an added layer of security, giving users the responsibility of storing their digital assets securely.

Features

• Non-custodial service.
• It supports the use of credit/debit cards to facilitate transactions.
• Mobile app.
• Availability of educational resources.

Pros

• Quick verification process.
• Global accessibility.
• User-friendly experience.

Cons

• The platform supports limited cryptocurrencies.
• High trading fees.
• Limited privacy.

10. PayPal

PayPal is an American multinational financial company operating as an online payment system. Since its founding in 1998, the company has offered financial services to individuals and businesses across over 200 countries. PayPal comes as an alternative to the traditional banking system.

When news of PayPal venturing into Bitcoin investment surfaced online, the crypto community was filled with ecstasy as the exchange’s more than 346 million users could finally access the asset. The feature, which allows PayPal’s U.S.-based clients to buy and hold BTC and three other cryptocurrencies, was launched in November 2020.

Features

• PayPal provides cryptocurrency education materials for new investors. 
• Anti-fraud technology. 
• PayPal operates a licensed trading platform.
• PayPal’s state-of-the-art encryption technology benefits its crypto trading services.

Pros

• It enables quick conversion of BTC sales to its cash equivalent.
• Easy-to-use trading platform. 
• Large user base. 
• Online merchants are using PayPal to accept BTC.
• Access to PayPal’s payback protection.

Cons

• At the moment, the service is only limited to U.S.-based residents. 
• The service is non-custodial since users cannot send or receive cryptocurrency.
• PayPal supports a few cryptocurrencies: Bitcoin, Ether, Bitcoin Cash, and Litecoin.

11. Crypto.com

Crypto.com is a Singapore-based cryptocurrency exchange founded in 2016 by Bobby Bao, Gary Or, Rafael Melo, and Kris Marszalek. The platform facilitates trades for cryptocurrencies, such as Bitcoin, Ethereum, and about 250 others.

The exchange has a native token dubbed Cronos (CRO). Holding the asset paves the way for benefits within the platform, such as discounts on trading fees.

Features

• It supports the trading of non-fungible tokens (NFTs).
• Earn and staking programs.
• Crypto loans.
• The exchange has a dedicated blockchain called Crypto.com Chain.

Pros

• It offers a wide range of cryptocurrencies.
• Competitive fees.
• It has a user-friendly interface.

Cons

• Dependency on the Crypto.com Chain.
• It demands KYC from users, even those who wish to stay anonymous.
• Delays in customer support services.

Signup on Crypto.com

12. Robinhood

Robinhood is an American investing platform that facilitates commission-free trades of stocks, exchange-traded funds (ETFs), and other financial products. In 2018, the company enabled the trading of cryptocurrencies like Bitcoin. Over the past few years, the platform has launched the trading of other cryptocurrencies.

Since it embraced the crypto industry, Robinhood has launched several products to streamline the crypto trading process, such as a native Web3 wallet.

Features

• Dedicated Web3 wallet.
• Commission-free trading.
• Fractional investing.
• Real-time market data.

Pros

• It enables mobile accessibility.
• There are educational resources.
• Regulatory compliance.

Cons

• There is limited international availability.
• There are limited cryptocurrency withdrawal options.

13. KuCoin

KuCoin is a cryptocurrency exchange featuring the trading and storing of crypto assets such as Bitcoin, Ethereum, and over 700 other assets. Since its launch in 2017, the platform has become one of the leading crypto trading platforms in the market, as it is available in several countries.

The exchange features trading tools that beginners and advanced traders can use in its mobile app.

Features

• Wide range of cryptocurrencies.
• Margin trading.
• Futures trading.
• The exchange has a native cryptocurrency dubbed KuCoin Token.

Pros

• Global presence.
• Competitive trading fees.

Cons

• It has limited fiat currency support.
• The platform has a history of security breaches.
• Its user interface may be complex for some beginners.

How to Identify Trusted Bitcoin Investment Sites

Since pseudonymous Satoshi Nakamoto created Bitcoin (BTC) in 2009, several Bitcoin investment platforms have launched within more than twelve years of its existence. These platforms usually promise enticing features and services that will enable them to stay ahead of their competitors.

However, not all that glitter is gold as most of these sites do not usually have what they claim. Therefore, it is essential to use specific criteria in selecting legit Bitcoin investment sites. Here are some of them:

Regulation

The topmost criterium on the list is regulation. It goes a long way to confirming the legitimacy of the investment site. Since Bitcoin investment involves users’ funds, the platform must have the required license to operate in a particular jurisdiction.

With this in place, users are sure they will be compensated if anything goes wrong. Most times, regulatory authorities will ensure that these platforms do not run away with users’ funds whenever they deem fit.

Security

For this aspect, investors should be concerned about the safety of their funds and information on investment sites. How an exchange intends to protect your funds and data from malefactors is essential to note.

Since hackers always try to gain access to trading platforms, investors should opt for investment sites equipped with the latest security measures to keep these hackers away. Some Bitcoin investment sites, such as Nexo and Coinbase, provide insurance coverage for assets stored on their platform.

Others like Binance adopt a self-implemented insurance program that lets them reimburse users in the event of a security breach.

Multiple Deposit & Withdrawal Options

A good Bitcoin investment platform should make the deposit and withdrawal of funds easy for everyone. The operator should make available multiple deposit and withdrawal channels. With this in place, users can opt for an option that best suits their needs, thus making their trading journey hitch-free. 

Professional Customer Service

Nobody hopes to encounter an issue while using an investment site. However, problems may arise along the line. What makes it less of an issue is a platform’s ability to resolve the issue efficiently. A good Bitcoin investment site should have 24/7 customer support services to settle all users’ complaints when they arise. 

User-Friendly Trading Platform

A good Bitcoin investment site should have an easy-to-use interface to facilitate trading. The trading platform should be sleek, friendly, and responsive to beginners and professional traders. The service should have a web-based and mobile platform to work on several devices, including PC, Android, and IOS.

Why You Should Only Use Legit Bitcoin Investment Sites

Since there are several Bitcoin investment sites, you should select a legitimate platform to have a smooth investing experience.

Choosing a good BTC investment site will help keep you safe from hackers and fraudsters. When you select a legit platform, there is no need to panic that you may lose your funds, as adequate security measures will be in place to keep you safe.  

Lastly, if a security breach occurs, the platform will be able to easily reimburse your funds.

Is Bitcoin Investment Different From Bitcoin Trading?

Yes. When you invest in Bitcoin, it means that you buy and hold the asset to sell it sometime in the future for a profit. However, Bitcoin or cryptocurrency trading works differently.

Under Bitcoin trading, the goal of a trader is to profit from short-term price action (usually within a few hours, weeks, or months). The fact that trading involves actively tracking the price of Bitcoin sets it aside from Bitcoin investing.

Final Thoughts

In this article, we defined Bitcoin investment sites and provided a shortlist of legit Bitcoin investment sites that you can start using immediately. We also provided information on how to identify a legitimate platform and why users should use only legit BTC investment sites. 

As established, there are a lot of Bitcoin investment sites posing to be genuine. However, investors must conduct adequate research using the provided criteria to determine the available legit BTC investment platform.