Bitcoin has remained a favourite topic among crypto traders since the premier digital asset launched in 2009.
Following a remarkable growth in 2021, Bitcoin has stirred interest among retail and institutional investors, with many searching for the best Bitcoin account to start their journey in 2022.
Several top platforms allow investors to own a Bitcoin wallet account. This guide will explore the best Bitcoin accounts you can use and how to open one within minutes.
The 5 Best Bitcoin Accounts Reviewed
Cryptocurrencies have boomed in the past year, and Bitcoin has played a principal role in the success of the crypto industry. Below are some platforms with the best Bitcoin wallets.
- eToro – Overall Best Bitcoin Wallet
eToro ranks as the Best Bitcoin Account provider in our review. For one, the eToro platform operates as a social hub solely fixated on crypto investors and traders. Here, users from all walks of life can seamlessly share, learn, and communicate with one another. eToro’s focus on community has seen it attract over 23 million users from all around the globe.
The eToro platform also comes with a CopyTrader functionality that allows new investors to copy the successful trades of more advanced traders for a nominal fee. This way, users can profit without having the requisite expertise while also learning in the process. eToro also features an in-house management tool called CopyPortfolio. Users can better diversify their financial assets among several top-performing sectors and regions with this feature.
eToro has a crypto wallet that supports over 120 digital assets. This also comes with a password recovery phrase for when users lose their private key. In addition, eToro Crypto Wallet allows up to 500 crypto-to-crypto pairs and is regulated by the Guernsey Financial Services Commission (GFSC).
To get started, eToro offers a low initial minimum deposit of $10 (for US and UK users), and you can easily make deposits through bank wire transfer, credit/debit card, PayPal, Skrill, Neteller, and several others.
eToro is regulated broadly by UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC). The platform is also regulated by the Cyprus Securities and Exchange Commission (CySEC), and the Financial Industry and Regulatory Authority (FINRA).
Open a Bitcoin account at eToro.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
- Binance – Best Bitcoin Account for Asset Diversity
Binance is another top platform to buy Bitcoin. Presently the world’s largest crypto exchange by trading volume, Binance offers the trading capability for over 500 crypto assets. Added to this, Binance is the most innovative crypto platform with top-notch financial services on tap.
Investors can use the Binance spot, margin, futures, and perpetual trading features to tap into the crypto ecosystem. In addition, the Binance Earn program allows investors to generate variable yields on their crypto holdings.
Binance exchange enforces strict security measures, including driver’s licence or official passport as well as facial verification. The Bitcoin exchange has a low trading fee of 0.10%, which can be slashed further to 0.025% if a user owns Binance Coin (BNB).
The minimum deposit is pegged at $10, and users can easily fund their account with a bank wire transfer, debit card, and peer-to-peer (P2P) payment method. However, debit card transactions are charged 3.9%, with P2P coming with zero fees.
Open a Bitcoin account at Binance.
Your capital is at risk.
- Coinbase – Best Bitcoin Account for Beginners
Coinbase also makes the ranks of the Best Bitcoin Accounts due to its beginner-centric approach in onboarding crypto newbies. Launched in 2012, Coinbase is on a mission to make it super-easy for anyone interested in cryptocurrencies to buy, sell, and trade digital assets.
Coinbase owns one of the best cryptocurrency wallets, allowing crypto owners to store their funds easily. Coinbase allows the trading of 300+ digital assets in terms of crypto support.
Coinbase exchange has a variable trading fee structure starting at 0.1% on its Coinbase Pro platform and the minimum deposit is pegged at $2. The Nasdaq-listed US crypto exchange is regulated by the UK’s FCA and the Financial Crimes and Enforcement Network (FinCEN).
Coinbase is highly user-intuitive. The exchange has an advanced trading platform called Coinbase Pro, with more indicators and lower fees.
Open a Bitcoin account at Coinbase.
Your capital is at risk.
- Webull – Best Bitcoin Account for 0% Commission
Webull is a new-generation crypto brokerage firm that has taken the crypto space by storm. Webull offers zero minimums and 0% commission for all financial assets offered for a start.
The platform is regulated by the US Securities and Exchange Commission (SEC), FINRA, and is a member of the Security Investor Protection Corporation (SIPC). You can easily buy, sell, and trade over 11 digital currencies, including BTC. As per fees, Webull charges $0.
Open a Bitcoin account at Webull.
Your capital is at risk.
- Exodus – Best Bitcoin Account for Mobile and Hardware Wallets
Exodus is a crypto-native digital facility that enables the storage and exchange of over 100 different cryptocurrencies. Accessible on desktop and mobile applications, Exodus crypto wallet is also compatible with digital hardware storage.
Exodus also comes with a slew of decentralised applications (dApps) for a more refined decentralised finance (DeFi) experience. Added to this, Exodus is clean-cut and offers a highly intuitive user interface for easy sending, receiving, and exchange of digital assets.
The platform comes with live chart support for digital assets and an in-built exchange protocol.
How to Choose the Best Bitcoin Account for You
Choosing the best Bitcoin account to use should depend on the following critical factors:
- Licensing & Security
Only use a Bitcoin wallet account properly licensed by a recognised global body. A heavily regulated platform would naturally come with a strong security measure. Given the proliferation of crypto hacks, this is very important if you intend to safeguard your digital funds.
- Account services
Account services also go a long way in aiding your Bitcoin trading experience. The more tools a platform has, the easier it is to make a profit. One of the most feature-rich platforms is eToro which comes with CopyTrader and CopyPortfolio functionalities.
- Mobile app
Mobile applications provide better accessibility and engender ease of use. A Bitcoin trading platform should come with a mobile version of its web trader and enable mobile-friendly payment solutions like PayPal, Skrill, and other e-wallet solutions.
- Customer Service
Customer support is pertinent when dealing with cryptocurrencies. Several investors are still quite new to the crypto space. Having a great customer support service helps users easily troubleshoot issues.
How to Open a Bitcoin Account
Creating a Bitcoin account has become easier as the year goes by. One of the best trading platforms to invest in the premier digital asset is our recommended eToro. You can get started with these steps:
- Open an account with eToro
Visit the eToro official website and click on the ‘Join Now’ icon to access the sign-up page. Here, you will need to provide a few details, including your full name, mobile number, username, email address, and password. You can also create an account using an existing Google or Facebook account.
- Verify Account
You will need to complete the know-your-customer (KYC) process to unlock the full potential of the eToro account. To do this, upload an image of your driver’s licence or government-issued ID card for identification and also a snapshot of your recent utility bill or bank statement.
- Deposit Funds
Once your account has been verified, you can now head over to deposit. To do this, click on the action tab and tap on the ‘Deposit Funds’ button. Then select a payment method and insert how much you want to fund your account with. Click on ‘Deposit’ to conclude the transaction.
- Buy Bitcoin
To buy Bitcoin, type ‘BTC’ into the search bar and click on ‘Trade’ on the relevant pop-up result. Then insert how much BTC you want to buy and click on ‘Open Trade’ to finalise the transaction.
- Transfer BTC
You can easily transfer your digital funds like BTC to the eToro Crypto Wallet. After downloading the mobile app, tap on the ‘Portfolio’ icon, select the digital asset, then tap on ‘Transfer’ to move the funds out of the regular eToro trading platform for safekeeping.
Conclusion
Bitcoin has seen exponential growth in its 12-year journey. The interests in the digital asset will continue to grow as retail and institutional investors continue to regard Bitcoin as an inflation hedge.
For the best Bitcoin account, we recommend using eToro.com due to its low fees and CopyTrader functionality.
Open a Bitcoin account at eToro.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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