How & where to buy Bitcoin (BTC) online
Introduction
A cryptocurrency exchange, which works like a stock trading platform, offers bitcoins. This method just only a few minutes to complete. The quick steps are listed below.
How to buy Bitcoin instantly in 3 simple steps
A smartphone or computer with an internet connection are required to purchase Bitcoin. The first time takes around 15 minutes, and you should have a picture ID on available. This is the procedure.
Step 1: Register with Binance
The easiest cryptocurrency exchange to use to start off is Binance. In order to be verified, create an account and provide a copy of your picture ID.
Step 2. Make a deposit
Add money using a credit or debit card, a bank deposit, or another payment option. Starting out with just £10 is possible.
Step 3. Buy Bitcoin token
Click “trade” after entering “BTC” in the search field. Hit “sell now” after entering the amount of money you wish to spend.
Tokens for Bitcoin are now yours! That’s all there is to it.
Best exchanges to buy Bitcoin (BTC), reviewed
1. Binance. Best crypto platform for trading altcoins
Pros & Cons
- Allows for the selling and holding of more than 130 coins.
- Occasionally unreliable client service
- Provides a variety of trading combinations (BTC, ETH, BNB, and USDT)
- Centralized as opposed to Decentralized
- Ahigh monthly withdrawal cap
- Available everywhere
- Minimal transaction costs, especially when using BNB (Binance Coin)
Overview
We love Binance Because Binance is the biggest cryptocurrency network in the world, we adore it. Binance is used by more than 30 million individuals to trade more than 350 cryptocurrencies. Other services that Binance provides include staking, crypto loans, and derivatives marketplaces like futures and options.
No matter your level of expertise, the Binance app is made to be appealing to everyone. The regular app is one of the most sophisticated crypto trading platforms available, whereas the “Lite” edition strips everything down to the bare essentials.
The costs: Bitcoin trading is completely free. There is a 0.1% fee for any other cryptocurrency spot trades. Owning Binance currency (BNB) entitles you to a 25% discount on any trading commissions. Deposit fees at Binance are free, while withdrawal fees vary based on the cryptocurrency.
2. OKX. Best for futures and margin trading
Pros & Cons
- Stake ETH to generate free FIFA WORLD CUP 2022 NFTs and significant rewards.
- Inaccessible in the US
- Available across 650+ trade pairs are more than 350 cryptocurrencies and NFTs.
- No possibilities for withdrawing money in fiat
- Available cryptocurrency spot and derivative markets
- Pay with a variety of regional payment options.
Overview
We love OKX because OKX is a flexible exchange with three versions of its software depending on how you trade, it is one of our favourite exchanges. Pick from the user-friendly Lite edition for beginners, the Web3 option for NFT traders, or the Pro version for a wealth of trading tools.
On one of the largest cryptocurrency exchanges in the world, you may trade 350+ crypto coins using a desktop or mobile app. A sliding scale of fees allows you to take advantage of discounts by holding the OKB token or engaging in high quantities of trading, and you can quickly fill your account using a choice of straightforward payment options.
The costs: For spot cryptocurrency trades, regular users must pay a 0.1% fee. Holders of more than 2,000 OKB coins are eligible for a discount of up to 0.02%. The lowest costs are available to traders with a 30-day trading volume exceeding $10,000,000,000. Large volume traders are also entitled to a discount.
3. Coinbase. Best secure trading platform for all types of trader
Pros & Cons
- Easy to use UI that is simple
- Rather hefty fees for rapid purchases using credit and debit cards
- Extremely small deal size minimums
- Mediocre client service
- offers excellent wallet security
- Can choose from a number of payment options
Overview
Because it is the most popular public crypto platform, Coinbase is adored by us. Coinbase provides automatic staking earnings on more than 10 cryptocurrencies with Coinbase Earn, more than 170 cryptocurrencies to trade, and a secure wallet to store your money.
You can trust that any money you put on Coinbase is secure because it is a public firm, and you are using the same platform as over 100 million other customers. Most assets are kept offline in cold storage, and all cash holdings up to $250,000 are insured.
The costs: Trade costs begin at 0.6% but decrease as trading volume increases. Bank transfer deposits and withdrawals are free, however there can be fees for other payment options. Crypto transactions from wallet to wallet are free, but blockchain fees must be paid. The cost of Coinbase’s staking services is 25%.
4. KuCoin. Best social trading altcoin exchange
Pros & Cons
- Up to two Bitcoin withdrawals every day while trading anonymously
- Several different cryptocurrencies
- The deposit is free.
- Big traders shouldn't use low trading volumes.
- Doesn't assist US customers
- During periods of heavy traffic, you can encounter delays and lags.
Overview
We adore KuCoin since it’s a terrific marketplace for newcomers to trade more than 700 alternative cryptocurrencies. A social trading network called KuCoin has 20+ million users globally in more than 200 nations.
For new users, KuCoin’s novice zone gives prizes of up to $500. The platform’s remaining features are packed with options for crypto enthusiasts, including a staking service to make money off of your stored cryptocurrency, an NFT marketplace, and margin trading tools to purchase leveraged tokens.
Trade costs are assessed on a sliding basis. Costs are 0.1% for trading quantities under 50 BTC over the course of 30 days. If you pay fees in KCS or keep more than 1000 KCS in your account, discounts are available.
5. Pacific Union. Best for social trading & customer support
Pros & Cons
- 200+ financial instruments and 70+ FX pairs are available for trading.
- Extremely small deal size minimums
- Support for 18+ different languages
- $100 minimum withdrawal amount
- Fewer resources than many rivals
Overview
We adore Pacific Union because its user-friendly platform is packed with a wealth of educational materials, such as how-to manuals and video tutorials. 43 of the most well-liked crypto/USD pairs are available from Pacific Union, including Bitcoin, Ethereum, and Dogecoin. Moreover, it is possible to trade cryptocurrency crosses like BTC/ETH.
It is a well regarded broker with a special social trading tool that enables new users to easily follow the positions and trading methods of the most experienced users of the platform. Together with its mobile and web-based apps, Pacific Union makes use of the well-known Meta trader 4 platform. Traders have a range of leverage options up to 500:1 at their disposal.
The costs: Trading cryptocurrencies is commission-free on Pacific Union. The Bid/Ask spread, which varies according to market volatility, is how the broker generates money. Spreads begin at a fraction of 1%.
How to trade BTC
Using a few easy steps, you may trade Bitcoin on a cryptocurrency exchange. This is a little illustration that demonstrates how BTC cryptocurrency trading operates:
1.
Keep an eye on the price: Let’s say the BTC/USDT exchange rate is $1. You analyze the price graphs and determine that it’s a smart idea to start buying BTC right away.
2.
Start a trade: You exchange $1 for 1 Bitcoin for 1 USDT.
3.
Keep an eye on the price: One Bitcoin token is now worth $2 the next day, a gain of 100%.
4.
Complete your transaction: You exchange your BTC token for $2 in USDT.
What is the best way to pay for Bitcoin (BTC)?
Using your bank card to purchase Bitcoin is the most straightforward method. There are many additional alternatives, though. Here are a few of the most popular ways to buy bitcoin.
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Purchasing bitcoin with a debit or credit card: Although card payments are quick and easy, you might have to pay more to make a deposit this way. For a card deposit, Binance costs 1.8%, whereas some platforms pay as much as 4%.
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Buy Bitcoin with bank transfer: The cheapest method to purchase cryptocurrency is typically a bank transfer. Bank transfer deposits are free on cryptocurrency services like Crypto.com and Coinbase, while Binance only levies a £1 fee, and are essentially quick thanks to the Faster Payments System (FPS).
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Buy Bitcoin with PayPal: PayPal deposits are accepted by several crypto brokers. The best alternative is eToro because it doesn’t charge a fee for PayPal deposits, whereas other platforms may charge a fee of up to 5% or more.
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Alternative payment methods: You can frequently use Neteller, Venmo, or Payoneer to make payments to cryptocurrency brokers. However, the choices differ per broker, so confirm what is permitted before you register.
How do I store Bitcoin (BTC)?
Most users store their cryptocurrency on the exchange they purchased it from. That is an excellent choice if you just want to keep it for a short period of time. Move your Bitcoin to a crypto wallet if you plan to keep it for a long time or if you have a lot of it.
Similar to a bank account, using a cryptocurrency exchange requires you to put your trust in the organization to look after your money’s security. A wallet is similar to your personal wallet or safe in that you are responsible for keeping it secure. Meta Mask and the Ledger Nano S are two of the best Bitcoin wallets to use.
Is Bitcoin (BTC) a good investment?
Your objectives and the principles of the project will determine whether it is beneficial to you. To assist you determine whether to invest in BTC, below are some salient characteristics of Bitcoin and its token.
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The purpose of Bitcoin is to establish a workable money independent of a centralized authority: Blockchain, a decentralized ledger that maintains a public record of all transactions, is the foundation on which Bitcoin is constructed. Since it is independent of any one person or organization, it offers an alternative to the established financial system.
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Bitcoin was the first cryptocurrency and is by far the most popular: In response to the 2008 Financial Crisis, Bitcoin was created. At the same time, the Bitcoin white article was released. It has a straightforward goal and a much longer track record of accomplishment than any other cryptocurrency
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There is a fixed maximum supply of Bitcoin: More than 21 ,000,000 Bitcoins will never be in circulation. The final Bitcoin won’t be created until around 2140 because of the way that the Bitcoin code is built. Regular “halving” events lessen the incentive for mining new currencies. But, because of the fixed supply, it benefits from scarcity, which raises the price.
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You can speculate on Bitcoin, use it as a store of value, or as a means of making payment online: While many cryptocurrencies are essentially speculative investments, Bitcoin can be used to make purchases or to store money away from banks and other financial institutions. It has been referred to as “digital gold,” and thinking about it that way can help: as a long-term store of wealth.
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Bitcoin has a lot of institutional support: Bitcoin is now included in the balance books of financial companies like Goldman Sachs. There are currently a large number of Bitcoin ETFs and funds, which helps to stabilize the market and boost confidence. Businesses like Tesla and MicroStrategy are well known for holding large positions in Bitcoin, adding billions of dollars to their own balance sheets.
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Cryptocurrency experiences much larger price swings than traditional investments: A big stock, like Apple, would only fluctuate by 2 to 3 percent in a single day, but Bitcoin frequently fluctuates by 5 percent or more. To buy Bitcoin, you need to be given training for that kind of everyday swing in the price of your investment.
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Bitcoin is built on an energy-intensive, Proof of Work blockchain: An example of work Blockchain needs “miners” to function. It has generated debate that bitcoin miners use powerful computers that use a lot of electricity. Although the Bitcoin blockchain is virtually impossible to attack, this type of blockchain is also extremely energy-intensive.
Pros
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The first and most widely used cryptocurrency
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21 million Bitcoins can be purchased in total.
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Bitcoin can be used as a store of value or to make online purchases.
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The Proof of Work method on the Bitcoin blockchain makes it very secure.
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Over the past few years, a lot of businesses and institutions have invested in Bitcoin.
In the end, there are numerous contributing components to the solution. Although cryptocurrency is inherently unstable, you can lower your risks by funding reputable projects that benefit the community.
How has Bitcoin (BTC) performed this year?
The price of bitcoin is currently $16,788.40, 73.93% less than the $64,400 all-time high it attained on November 12, 2021. BTC has a 52-week high of $50,848.10 and a 52-week low of $15,760; it is down 64.83% year to date.
Is now a good time to buy Bitcoin?
The answer is contingent upon the market price and your personal investment objectives. Simply said, the method for buying, selling, and exchanging Bitcoins is the same for all three. Whether or not it is a good time to invest today really just depends on your individual investing goals.
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If you’re a trader: Your objective as a bitcoin trader is to consistently make money. What does the term “regularly” mean? Daily, weekly, and hourly. To ensure their profit, traders immediately purchase and sell coins (or to avoid a loss). They don’t hold onto the coin for a long time in the hopes of making more money. In this view, buying Bitcoin is a wise decision at any moment.
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As a long-term investor: If the stock is 10% up or down on any given day, a long-term investor is unconcerned. When they are ready to sell their investment, months or years from now, they are more interested in whether the price of the native token has increased overall. Hence, if you firmly believe in the principles underlying Bitcoin and its decentralised aggregator platform, a smart opportunity to buy Bitcoin is on any significant dip.
Conclusion
In conclusion, buying Bitcoin online has become increasingly accessible and convenient over the years with the emergence of various online platforms and exchanges. It is important to thoroughly research and compare different options before choosing a platform to ensure security and transparency in transactions.
Additionally, it is important to consider factors such as fees, payment methods, and geographical restrictions when selecting a platform. By taking these factors into account, individuals can confidently purchase Bitcoin online and begin to participate in the growing world of cryptocurrency.
FAQs
The highest rated exchange to buy Bitcoin is eToro. However, you can purchase BTC crypto tokens on any of the platforms listed above in our comparison table. Any platform that lets you buy and sell the leading coins by market cap will offer Bitcoin.
To create an account on any regulated cryptocurrency exchange, you will need:
- A mobile or laptop device
- An internet connection
- Email address and/or phone number
- Photo ID to verify the account
- A method to deposit & withdraw funds, like bank card or PayPal
As soon as you’ve set up an account, you can start buying Bitcoin.
Yes, you can buy Bitcoin on Coinbase.
Yes, you can buy Bitcoin on Binance.
Yes, you can buy Bitcoin on eToro.
We recommend using one of these Bitcoin wallets. However, it’s perfectly acceptable to store Bitcoin on the exchange where you purchased it.
The easiest way to purchase Bitcoin in the US or the UK is to use a crypto exchange, like Binance.
However much you can afford. There’s no limit to the amount of BTC that one person can own, but if you’re going to be holding very large sums, it’s usually advisable to spread your coins across a few platforms and wallets.
The same way its safer to spread savings across multiple accounts.
Usually yes there are small fees when buying and selling Bitcoin – especially on user-friendly exchanges such as Coinbase where you pay for cryptocurrencies in fiat currency. These platforms will usually charge small flat fees for transactions.
When transferring your coins to other wallets (either to other wallets you own or to other people to whom you are selling to), you also have to pay a small amount in mining fees.
This fluctuates depending on how busy the network is at that moment, but they work out to a very small fractional amount of BTC to ensure that the miners maintaining the network are fairly rewarded.
You can also choose to pay slightly more in mining fees in order to have your transfer verified faster on the blockchain.
No, while investing in the two things can be a similar process, Bitcoins and stocks are very different.
As a cryptocurrency, Bitcoin is an asset that relies on decentralised blockchain technology with new coins generated through miners verifying transactions, and its value is determined by how much people are willing to pay for coins at any given time. Stock, on the other hand, is issued by companies in order to raise capital and their price is tied to the value of the business issuing them.
This depends on your definition of ‘safer.’ Usually people invest in gold because it is a good ‘safe haven’ asset: its value tends to be largely unaffected by market turmoil, meaning investors can protect their capital at times of crisis by investing in gold.
Bitcoin on the other hand, while separate from other economic activity, is vulnerable to market fluctuations and the market is a famously volatile space. This means Bitcoin isn’t as well suited to protecting capital, if that is your sole aim.
People may discover trustworthy, unbiased information on money, trading, and investing on Forex Ratings, but we do not give financial advice; users should always conduct their own research. Stocks, cryptocurrency, and commodities are just a few of the extremely volatile items our website covers. New investors frequently lose money. Users shouldn’t ever invest more money than they can afford to lose because success in the financial markets is not guaranteed. Before making any investment, you should think about your unique situation and take the time to analyze all of your possibilities.
