Bitcoin investment sites, also known as exchanges or “onramps,” are an important part of the industry. Onramps provide an easy way for people to buy and sell Bitcoin with their local currency.
In the last year, we’ve seen a new class of trusted onramps that focus specifically on Bitcoin, the largest and most reputable cryptocurrency.
These “Bitcoin-only” onramps represent a noticeable change from past ICO-mania where questionable exchanges exploded onto the scene. Many of these opportunistic Bitcoin investment sites have since been hacked, become insolvent, or shut down for a myriad of other reasons.
Here at Swan we believe that being a bitcoin investment company that is “Bitcoin-only” is a competitive advantage and we’re ready to prove it.
In this article, we will cover:
- Why going Bitcoin-only is a smart business decision
- The benefits of setting up automatic recurring Bitcoin purchases
- The top legit Bitcoin investment sites 2020
Don’t have much time and just want to check out the list of the best bitcoin investment companies? No problem, here they are:
- SwanBitcoin (USA)
- Amber (Australia)
- BullBitcoin (Canada)
- CashApp (USA)
- CoinFloor (UK)
- RiverFinancial (USA)
Why Businesses Should Go “Bitcoin-only”
While fans of alternative cryptocurrencies might complain that their favorite token is being excluded for ideological reasons, the reality is: going “Bitcoin only” is a logical business decision.
The benefits of focusing on bitcoin:
- Lower Fees
By focusing on a single asset, companies can maintain lower support costs which leads to better service with lower fees for users.
- Bitcoin has the majority of the volume
As a business, it makes sense to focus on the asset (Bitcoin) that attracts high volume.
- Increased focus
If you want to be the best website to invest bitcoin, the only way is to focus on Bitcoin alone. Going Bitcoin-only means your company will have no distractions/temptations from penny stock altcoins. Altcoins are opportunity costs.
- Domain Expertise
By focusing on a single asset, your team will become experts in that asset. Eventually, your expertise will enable you to out-compete companies who took a less focused approach. This compounds over time and leads to better products/services which attract long term customers. If you focus on altcoins, the tradeoff is you won’t be able to support Bitcoin as well.
- Long term success
A business built on trading altcoins might be lucrative for a short period of time. These altcoin onramps popup in bull markets, rise to fame, and quickly crash in just a few years. On the other hand, Bitcoin-only onramps are more robust and will outlive all the altcoin exchanges (read: altcoin casinos).
- More Secure
Onramps that focus exclusively on Bitcoin allow for increased security. Every time you offer another asset, your engineers are forced to develop increasingly complex security methods. On the other hand, focusing on Bitcoin exclusively allows engineers to take advantage of Bitcoin’s native features, such as multi-sig which results in more secure infrastructure.
- Less Regulatory Burden
Bitcoin-only onramps come with fewer regulatory risks as Bitcoin has been given a pass by most regulators globally. Kraken publishes an annual report listing all the requests they receive from regulatory bodies around the world. Compliance is extremely expensive, especially if you offer a bunch of altcoins.
- Aligned Incentives
Companies that focus exclusively on Bitcoin share aligned incentives with Bitcoiners. Both parties want Bitcoin to remain secure and increase in value over the long term.
- Shared Infrastructure
As more companies focus on Bitcoin’s native functionality (multi-sig, partial signed Bitcoin transactions, etc), we’ll see more open source standards emerge. For example, Unchained Capital open sourced a multisig protocol called Caravan that anyone can leverage.
Learn more about the benefits of BTC investment sites staying Bitcoin-only:
- Aleks Svetski explains why Amber is a Bitcoin-only Business.
- Francis Pouliot explains why Bitcoin-only makes business sense on the Tales From The Crypt podcast, episode #84 (starting at the ~23:00 mark).
Learn how to delete your Coinbase account—the most notorious company promoting altcoins.
Why set up Automated Recurring Buys? DCA Benefits
Here at Swan, we believe that setting up automated recurring Bitcoin buys is the best strategy. In investing terms, this is a called “dollar cost averaging” (DCA).
Benefits of Automated Recurring Buys (Dollar Cost Averaging):
- No one can time the market, dollar cost averaging minimizes the risk of volatile price swings.
- Set it and forget it, no need to log in every week.
- Remove your cognitive biases, the market and media are constantly trying to manipulate you. Avoid fear and FOMO.
- Avoid tax burden and fees of active trading.
- Get rich slowly, think long term!
Top 6 Best Bitcoin Investment Sites
Here’s a list of the top Bitcoin investment websites that are “Bitcoin-only” and currently available in 2020.
1. Swan Bitcoin
Availability: Swan is available in 49 US states. International expansion planned for late 2020.
About Swan Bitcoin: Swan is Bitcoin investing made easy. Connect any major US bank account, set an amount, and Swan’s weekly, paycheck, or monthly savings options steadily convert your dollars to Bitcoin savings. Swan buys more when the price goes down and less when the price goes up.
Swan’s goal is to be the easiest and most user-friendly way to acquire Bitcoin. The team is also focused on educating Bitcoiners of all experience levels. Swan’s mission is to onboard the next million Bitcoin users.
- Automatic Recurring Buys
Users can easily set up automatic recurring Bitcoin buys. Swan believes dollar cost averaging is the most effective way to accumulate Bitcoin. Select weekly, bi-weekly, or monthly recurring buys.
- Educational Content
Swan focuses on creating educational content to improve the entire Bitcoin ecosystem. You can read the latest articles from the Swan team and their friends at Swan Signal.
- Gifting Bitcoin
Swan also offers GiveBitcoin, a tool for gifting Bitcoin to friends and family. It’s hands-down the easiest way to onboard your friends and family. Users can also “request Bitcoin” which enables, say, your grandma, to gift you Bitcoin easily using her normal checking account.
- Referral Program
Swan is currently offering a referral program. When you refer a friend to Swan Bitcoin, they receive $5 and so do you.
Users can schedule periodic Bitcoin withdrawals to move a certain amount of Bitcoin to a wallet of their choice.
2. Amber (Australia)
Availability: Amber is currently only available in Australia with plans to expand to Europe soon.
About Amber: Amber is an app focused on making easy recurring buys of Bitcoin. Currently available for both Android and iOS. Amber focuses on clean design and providing a simple way to acquire Bitcoin.
- Mobile App
Amber is available on both Android and iOS
- Automatic recurring buys
Users can set up recurring buys every day, week, or month. $5 AUD minimum purchase. Users can also make one-time purchases as they desire.
The Amber team, lead by Aleks Svetski, produces high quality Bitcoin content that’s available to the public. We recommend checking out Bitcoin Times.
3. Bull Bitcoin (Canada)
Availability: Bull Bitcoin is a top tier bitcoin investment platform but it’s only available in Canada.
About Bull Bitcoin: Bull Bitcoin is a fixed rate Bitcoin exchange that enables Canadians to buy, sell, and spend Bitcoins online. Bull Bitcoin is run by self-proclaimed Cypherpunks and Bitcoin Maximalists and it shows. As one of the top bitcoin investment sites, they focus on privacy, security, and enabling users to maintain full custody of their Bitcoin.
The Bull Bitcoin team also developed Cyphernode.io which is a modular Bitcoin full-node microservices API server architecture and utilities toolkit to build scalable, secure apps/services without reliance on trusted third parties.
Bull Bitcoin never takes control of users’ Bitcoin. Instead, users are fully sovereign over their Bitcoin at all times.
- Bylls integration
A service that enables users to pay their Canadian bills by converting Bitcoins to Canadian Dollars. Part of the circular Bitcoin economy.
- Automated Dollar Cost Averaging
Users can schedule recurring buys at the frequency they desire (daily, weekly, etc).
4. Cash App (USA)
About Cash App: Cash App is an iOS/Android app that offers a Venmo/PayPal experience as well as offering users to buy stocks and Bitcoin. It was created by Square/Twitter which makes it one of the most trusted Bitcoin investment sites. Not to mention, Cash App is one of the most popular financial apps in the app store.
Cash App has a great UX and buying Bitcoin is very fast on it. Square is the first publicly-traded company to sell Bitcoin. Jack Dorsey, CEO of Square/Twitter, is very bullish on Bitcoin-only.
- Buy/Sell Bitcoin
Users can buy and sell Bitcoin through Cash App. $10k weekly purchase limit.
- Purchase Stocks
Users can acquire as little as $1 worth of a US stock.
- Direct Deposit Paychecks
Users can elect to have their paychecks direct deposited into Cash App.
- Cash Card
Users can receive a Visa debit card attached to their Cash App account.
- International payments
Users can now send payments between the US and the UK.
5. Coinfloor (UK)
Availability: Coinfloor is a top BTC investment site, but it’s only available in the UK.
About Coinfloor: Coinfloor is the longest-running Bitcoin investment site in the UK. They started by offering many different cryptocurrencies and then later realized that it was a better business decision to focus on Bitcoin only. In early 2020 they removed support for all assets besides Bitcoin.
Interestingly, Coinfloor is the only exchange in the world to provide Bitcoin audits (aka Proof of Reserves) which makes them one the most trusted bitcoin sites. According to the Coinfloor websites, their services are specifically designed to serve corporate and institutional investors, sophisticated investors and professional traders. The minimum deposit was recently reduced from $1,300 to $300. Coinfloor supports just two trading pairs, BTC/GBP and BTC/EUR.
- Proof of Reserves
Coinfloor publishes a weekly audit of its Bitcoin reserves, hopefully lending some legitimacy. Theoretically, this reduces the risk of financial institutions running a deficit without customers being aware. Nic Carter, a partner at Castle Island Ventures, is pleased about that.
- Automatic Recurring buys (coming soon)
Coinfloor anticipates releasing Automatic Recurring buys soon.
- OTC trading desk
Users get access to buy/sell through Coin Floor’s OTC desk.
- Bitcoin multisig custody
They take advantage of Bitcoin’s native multi-sig capabilities which can be used to improve security.
6. River Financial (USA)
About River Financial: River is focused on financial services for Bitcoin holders. Similar to a Fidelity brokerage account but for Bitcoin. River is looking to differentiate by offering users access to more advanced Bitcoin technologies including Partially Signed Bitcoin Transactions (PSBTs), native multi-sig, and a language called Script Descriptors. Being Bitcoin-only enables more resources to be allocated to native Bitcoin features.
Why such limited availability? As a brokerage, River must apply for a Money Transmitter License in the US which is done on a state by state basis. The team has invested heavily in this area and they plan on continually rolling out new states over time.
- Recurring Buy Orders
This feature allows users to set up an automatic purchase order of BTC at predetermined intervals. Users who sign up for automatic buys unlock a 20% discount off of River fees.
- Performance Tracking
River provides users with some tools to track how well your Bitcoin investments are performing.
- Deposits and Withdrawals
Users can add Bitcoin to their River wallet as well as move Bitcoin from River to another wallet.
- Institutional Accounts
Enables financial institutions to buy, sell, and use Bitcoin.
Support trusted Bitcoin-only onramps and start buying Bitcoin today
As businesses realize the benefits of going Bitcoin-only, we’ll see more and more legit Bitcoin investment sites focused exclusively on Bitcoin.
This trend will likely continue as Bitcoin-only companies will outcompete companies who are spread too thin supporting 100s of illiquid tokens.
Here at Swan Bitcoin, we highly recommend two things:
- Investing in your personal Bitcoin education (we recommend our Swan Signal blog and Swan Signal Live podcast).
- Setting up an automated recurring Bitcoin purchase. For example: Every Saturday, you buy $50 worth of Bitcoin.
Be sure to sign-up at SwanBitcoin.com/signup.
P.S. After you join, make sure you pass around your unique referral link. Both you and your friends will receive $5 worth of free Bitcoin for each person who signs up (limited time offer).