The Bitcoin started as a project of some
passionate encryption specialists, and it remained a technical project until
2011-2012. Its initial value was established at $0.0000001 per one bitcoin. By
the middle of 2012, the Bitcoin was already evaluated at $6-7, so the new
concept started to attract investors and speculators. In 2012, the Bitcoin grew
slowly but steadily from $2 to $13. MtGox
was first website ever allowing trading between BTC and USD, with an exchange
course established freely on the market, based on demand and offer. During the
latest years, many other exchange houses appeared. However, just because a
website allows you to exchange bitcoins for dollars, does not mean that you can fully trust them. Along
the history of Bitcoin, almost 20
exchanges were closed, disappearing with all the money of clients. This is
why you must only exchange bitcoin to USD on websites that you fully trust, or read the latest Cryptopips analysis to anticipate the movements on this market.
1. MtGox.com
MtGox is not
only the oldest exchange website, but also an important member of the bitcoin
foundation. They had numerous problems along their history, such as the
February 2014 crisis, when all the withdrawals were ceased for a while. This
happened because MTGox found some problems in the BTC
blockchain algorithm, so they ceased payments until this problem was
solved. Even if confirmation of an account lasts for two weeks, and you will
also need to provide MTGox with personal details, it is still the safest place
where you can exchange bitcoins and dollars.
2. BTC-E.com
For a short
time, BTC-E was the largest exchange website in the world of cryptocurrencies.
This happened at the end of 2013, when BTC transactions were forbidden in China . Until
then, BTChina.com was the largest trading website. Currently, it is hard to
estimate the volumes of transactions on different websites, because there are
many other smaller cryptocurrencies traded on the same websites, which can’t be
quantified. Even so, BTC-E is a fully trusted exchange house, especially
because they allow MetaTrader 4, an option that can’t be used on any other
exchange.
3. Cryptsy.com
A newer but yet
interesting website where it is possible to trade BTC for USD. It is easy to
deposit cryptos on this website, and the possibility to invest in other cryptos
is a safety net used by many, especially when the price of BTC goes down.
There are tens
of exchange websites appearing every month, but you should not trust them
completely. Have patience, let the websites develop, and use those only when
they gained enough recognition. Some of those websites might come with new
features, but it is not worth to risk your hard earned bitcoins just to build
the reputation of a website.
