After starting with online investments, you will need one ore more payment systems very soon. You will register to one after a short period of time. There are different platforms and they are very different. You have to register to most of the platforms to find out, which currencies they will process.
Advantages of payment systems
- Expenses for transfers are cheaper than normal bank transfers – osts of international money transfer are more expensive.
- Time is money: One of the most important advantages of payment processors is the saving of time. Transactions are processed immediately. There is no idle time.
Let me explain you the most important payment processor:
Kraken – a Bitcoin exchange platform for those who are already more familiar with online investments. At a glance, this payment processor seems very complex, but with a little practice Kraken will be easy to use.
- free account
- no monthly recurring fees
- most popular and safest Bitcoin exchange
- many other cryptocurrencies (BTC, ETH, LTC,…)
- deposits by bank transfers
- fast and very low transaction fees
- low charges for money exchanges from 0.05% to 0.2% (depending on your verification status)
- payouts to your bank account also in USD or EURO
- verification for you account is tricky but necessary
- Please verify your account up to level “Tier 3”.
- Transfer you money from other platforms to Kraken only with Bitcoin and no other currencies. I think, Bitcoin is the most stable cryptocurrency