Best Places To Buy Bitcoin (BTC)
Best Places To Buy Bitcoin (BTC)
You can buy Bitcoin online through a centralized crypto exchange. But with so many exchanges, it can be difficult to pick the right one. We’ve rounded up the best exchanges to buy $BTC so you can easily compare:
- MoonPay: Best exchange for beginners
- Bybit: Best exchange for advanced traders
- OKX: Best exchange for Asian investors
- Coinbase: Best for beginners and ease of use
- Binance: Best for low fees and wide crypto selection
- Gemini: Best Bitcoin exchange for all 50 US states
- Nexo: Best for crypto-backed loans and high-yield savings
- Uphold: Best for multi-asset trading
| Marketplace | Basic Trading Fees (Spot) | Basic Trading Fees (Futures) | Full Fees Breakdown |
| Bybit | 0.10% maker fee, 0.10% taker fee | 0.02% maker fee, 0.055% taker fee | Link |
| OKX | 0.08% maker fee, 0.10% taker fee | 0.02% maker fee, 0.05% taker fee | Link |
| Coinbase | 0.40% maker fee, 0.60% taker fee | 0.40% maker fee, 0.60% taker fee | Link |
| Binance | 0.10% maker fee, 0.10% taker fee | 0.02% maker fee, 0.05% taker fee | Link |
| Gemini | 0.20% maker fee, 0.40% taker fee | 0.02% maker fee, 0.07% taker fee | Link |
| Nexo | 0.20% maker fee, 0.20% taker fee | 0.06% | Link |
| Uphold | 1.4%-1.6% on $BTC and $ETH | No derivatives products | Link |
MoonPay
MoonPay is your go-to fiat gateway if you’re new to crypto, or just want an easy way to buy some with your debit card. If you’re not in a rush to buy, it’s got a cool trick up its sleeve—MoonPay Balance means no fees on trades, which you can fund with free bank transfers. The platform downsides? Card fees can sting, and it’s not for advanced traders who want fancy tools.
MoonPay is a solid pick for beginners and casual buyers who just want a simple, no-fuss way to buy crypto.
The app’s easy to use, offering plenty of payment options, and the MoonPay Balance feature lets you dodge extra fees. It also has strong security, supports NFT purchases, crypto swaps, and over 80 cryptocurrencies in 180+ countries.
Pros
- Beginner Friendly
- Available in 180+ Countries including the USA (except HI, MT, NV, NY, VI, VA)
- Huge variety of fiat payment methods including Apple Pay
- Non-custodial
Cons
- Fees can sting when using instant payment methods
- No special trading tools aside from recurring buys
- Some US states not supported
Bybit
4.4
Pros
- Best for trading perps and options (offers up to 100x leverage)
- 0 fees for peer-to-peer (P2P) trading
- Lower trading fees than most exchanges
Cons
- Not available in the US, UK or any other countries listed here.
- Leveraged products can be risky for beginner
- Wide range of trading options: Whether you want to trade spot, futures or options, Bybit has it all.
- Advanced tools for traders: Along with 100x leverage, Bybit offers risk management features like trailing stops.
- Competitive fees: Fees starts at 0.10% (10bps).
Bybit is ideal for experienced traders seeking advanced features such as perpetuals and options. It has built a reputation for providing advanced trading tools at low costs. That being said, beginners should tread carefully on Bybit.
OKX
4.5
Pros
- Wide range of features like trading, staking, NFT marketplaces on one platform
- Lower trading fees than most exchanges
Cons
- Not available in the US
- OKX Wallet: Offers a non-custodial wallet that supports Ethereum, Solana and BNB Chain.
- OKX Earn: Fixed-term savings accounts to earn passive income on crypto holdings.
- Integrated TradingView: Professional-grade charting tools within the platform.
Available worldwide (except for the U.S.), OKX bridges the gap between centralized exchanges and the DeFi world with its multi-chain Web3 wallet.
Coinbase
Pros
- Easy to use for crypto beginners
- Fund account through PayPal
- Free USDC withdrawals across all supported networks except Ethereum
Cons
- Trading fees are significantly higher compared to other platforms.
- Not available in multiple Asian countries like India, UAE and Philippines.
- Coinbase Pro: Offers advanced trading tools for experienced traders.
- Coinbase Wallet: Self-custodial wallet supporting most EVM-compatible networks.
- Fiat Onramp: Supports deposits and withdrawals in multiple fiat currencies via bank transfers, credit/debit cards, and PayPal.
Coinbase is one of the most trusted names in crypto, and being a publicly traded company brings more transparency than you’ll find with many other exchanges. Coinbase fees can be high but it makes sense for the quality that they provide.
Binance
Pros
- Biggest exchange in crypto
- Lower trading fees than most exchanges
- Available in majority of US through Binance.US
Cons
- Limited features on Binance.US
- Not available in New York, Texas, Vermont and multiple other states
- Binance Launchpad: Users can earn passive income through staking and liquidity farming.
- Binance Card: Visa debit card that gives you crypto rewards with every purchase.
- NFT Marketplace: Buy, sell, and create NFTs directly on the Binance platform.
- Countless help articles: Learn how to buy Bitcoin or get answers to your other crypto questions with Binance’s help pages and the Binance Blog.
Binance has a reputation for not being as people-friendly as other exchanges, but we haven’t found that to be the case at all. The Binance.US exchange is particularly intuitive, even for beginners.
Gemini
4.6
Pros
- Bank account or PayPay funding (personal PayPal accounts only)
- Low minimum order
- Great for beginners
- Fully operational in the US, UK, and Europe, with growing global coverage.
Cons
- Fewer cryptocurrencies to trade
- Minimum withdrawal of $10 to an external wallet
- No futures or margin trading
- High trading fees compared to other exchanges
- Easy-To-Use Trading Interface: Gemini is perfect for quick and recurring $BTC buys.
- Gemini Card: Earn instant crypto rewards on every transaction.
- Gemini Earn: Earn interest on your crypto holdings with competitive APYs
Gemini is a highly-compliant exchange that takes pride in being secure and well-regulated. It has an impressive range of features, including a credit card with crypto-back rewards. Gemini is NY-based and available to traders in all 50 states.
Nexo
Pros
- Earn up to 12% APY on crypto and fiat savings
- Offers credit card that gives you cashback in $BTC
Cons
- Not available in the US or Canada
- High interest rates often require staking $NEXO tokens
- Nexo Credit Card: Rewards of up to 2% in $NEXO or 0.5% in $BTC
- High-Yield Savings Accounts: Daily interest payouts with no lock-in period.
Nexo is a top choice for borrowing and lending, offering high-yield savings and instant crypto-backed loans with the convenience of its Nexo Card.
Uphold
Uphold is a regulated platform for investing in crypto, currencies, and metals with instant swaps, vaults, and real-time transparency.
4.7
Pros
- Can invest in crypto, metals and even fiat currencies through one platform
- Offers 4.65% APY on USD holdings
- Available in the US
Cons
- Extremely high trading fees compared to other exchanges
- Doesn’t offer leverage or margin trading
- USD Interest Accounts: Let your funds grow passively while you wait to strike on your next buying opportunity.
- Uphold Vault: A secure self-custody solution for $BTC and $XRP, using a 2/3 multi-signature wallet.
- UpHODL Wallet: Self-custodial web3 wallet that lets you store and manage $BTC, $ETH, $XRP, ERC-20 tokens, and NFTs in one place.
Uphold is an impressively sleek and easy-to-use multi-asset platform, letting users invest in crypto, global currencies, and precious metals in one place.
Other Ways To Buy Bitcoin
If you want to buy Bitcoin outside of an exchange, there are several ways to own the most popular digital asset. Here are six common ways to buy Bitcoin:
Purchase Shares In A Bitcoin ETF
Spot Bitcoin ETFs were approved in the U.S. on January 10th, 2024 opening up a new and convenient way for investors to gain crypto exposure. In short, ETFs allow you to gain exposure to an asset without directly owning it, and without needing an account with a crypto exchange.
This can be beneficial for investors who want crypto exposure from the comfort of their brokerage account. It also can benefit those who don’t want to learn the process of buying crypto itself or getting started with a wallet.
On the flip side, buying ETF shares will not allow you to self-custody your digital assets. This prevents you from engaging in DeFi with your Bitcoin and also contradicts one of the main goals Bitcoin’s founding: decentralization.
Buy Bitcoin With A Credit Card
It’s possible to buy Bitcoin using a credit card as long as your credit card issuer and crypto exchange allow it. This means you can buy crypto even when you don’t have cash. However, transaction fees can be very expensive because crypto purchases are often considered cash advances.
You’ll also pay a higher fee to deposit compared to ACH bank deposits, which are usually free. And relatively few crypto exchanges support credit cards.
Buy Bitcoin With A Debit Card
Like credit cards, you can buy Bitcoin with a debit card. As long as your card has sufficient cash, you can link it to your crypto exchange, and you’re good to go. Transaction fees for debit cards are lower than for credit cards in many cases, but be sure to research funding costs before you confirm the transaction.
Buy Bitcoin With Your Bank Account
If you’ve ever used your bank account to pay a bill online, you’ve used ACH (Automated Clearing House). You can use this online banking system to buy Bitcoin on most crypto exchanges, often with no deposit fees. One downside of using ACH is that some banks may limit the amount you can send or the number of transactions you can make each month.
Buy Bitcoin With A Wire Transfer
When you need to fund your account quickly or need to transfer a larger amount of money, wire transfers can be a better option than ACH transfers. Typically, the bank will charge an outgoing wire transfer fee, and many exchanges also charge an incoming wire transfer fee.
Buy Bitcoin With PayPal
You can buy Bitcoin through PayPal’s website or app, but some crypto exchanges also support PayPal deposits. For example, Gemini and Coinbase supports PayPal purchases for Bitcoin and other crypto tokens.
Buy Bitcoin With Bitcoin ATMs
Another option is a Bitcoin ATM. A Bitcoin ATM allows you to buy and sell cryptocurrencies using cash or a debit card. However, you may need a Bitcoin wallet to make a transaction. In addition, transaction fees can be high.
Here’s a step-by-step guide on how to buy Bitcoin with a credit card on Kraken.
Note: Kraken does not support credit cards in the US (debit cards accepted).
Step 1: Log in to your Kraken account and select “Buy Crypto.”
Choose your BTC purchase amount and add a payment method.
Step 2: Enter your card details.
Complete your card information and confirm the purchase.
Consider Dollar-Cost Averaging Bitcoin Buys
As an alternative to trying to time your entry, you can use a tried and true method called dollar-cost averaging.
Dollar-cost averaging (DCA) is an investing strategy where you invest a fixed dollar amount at regular intervals, such as daily, weekly, biweekly, or monthly. This allows you to average out your cost basis and avoid worrying about short-term market fluctuations.
Dollar-cost averaging has several notable benefits:
- Prevents imprecise market timing
- Helps take emotion out of investing
- Can be automated
As with any investment strategy, DCA has downsides too:
- Higher transaction costs due to more frequent purchases
- Possibly lower returns because you’re holding cash rather than investing in a lump sum
Dollar-cost averaging your Bitcoin investment means you’re buying less when prices are higher and more when prices are lower. This can be effective in removing the emotion and guesswork from investing.
Where To Store Your Bitcoin
In the same way you keep your cash or credit cards in a physical wallet, you can store Bitcoin in a crypto wallet. A crypto wallet can either be “cold” or “hot.” Your account on an exchange would be considered a hot wallet, although, in this case, the exchange provides custody of your Bitcoin.
If you don’t want to worry about storing your Bitcoin, you can also consider Bitcoin ETFs, which track the price of Bitcoin and can be held in a normal brokerage.
Many $BTC investors prefer to move their Bitcoin to a self-custody wallet.
| Hot Wallets | Cold Wallets | |
| Best For | Short-term storage, smaller amounts of $BTC | Long-term storage, larger amounts of $BTC |
| Security | Private keys are generated on a device connected to the internet | Wallet’s private keys are generated offline and stored on a device not connected to the internet |
| Loss Protection | Recovery and backup options are available and can be accessed on multiple devices | Recovery and backup options are available to restore recovery phrase on a new device |
| Ease Of Transfer To Exchanges | Very easy to transfer digital assets, provided there’s an internet connection | Transferring digital assets on cold wallets requires an extra step, such as plugging into a USB port or connecting via Bluetooth |
| Price | Free, but some may charge fees for crypto swaps or buying crypto from within the wallet app | You must buy an external storage device in most cases; prices start at about $50 |
A hot wallet is a cryptocurrency wallet that allows you to store, send, and receive cryptocurrencies. You can access a hot wallet on devices such as phones, tablets, and computers, provided there’s an internet connection.
While hot wallet wallets allow you to access your digital assets anywhere, the private keys are generated on an app connected to the internet. For this reason, hot wallets are ideal for storing small amounts of digital assets.
Here are the top three hot storage wallets:
- Coinbase Wallet (mobile)
- Electrum
- BlueWallet
Pros
- Convenient access without extra devices
- Low cost (typically free)
Cons
- Susceptible to software bugs or vulnerabilities
- Potential for private keys to become compromised
In contrast to hot wallets, cold storage wallets are not connected to the internet when the private keys are generated. Instead, digital assets are secured by a hardware device, adding an extra security layer from potential attacks.
Here are the top three cold storage wallets:
- Trezor Model T
- Ledger Nano X
- KeepKey
Pros
- Portable
- Less vulnerable to online attacks
- Easy to recover crypto assets
Cons
- Can be costly
- Transfers between cold storage devices can be cumbersome
To Sum It Up
Crypto exchanges are typically the best places to buy Bitcoin, including exchanges like Gemini and Coinbase. To buy $BTC on an exchange, you must register and fund your account. Keep in mind that the trading fees and trade minimums vary by exchange. Once you’ve purchased your Bitcoin, ensure you store it in a digital wallet and safeguard your private key.
Frequently Asked Questions
You can buy Bitcoin through a wide range of payment apps, including PayPal and Cash App, but often the best place to buy Bitcoin is through a crypto exchange like Gemini. Crypto exchanges usually have lower fees and allow you to move your Bitcoin off the platform into a self-custody Bitcoin wallet.
Beginner-friendly exchanges like Gemini walk new users through the process with helpful articles and on-page tutorials. Take your time, and be sure to note the fees on the confirmation screen before your commit to the trade.
Transaction fees for Bitcoin vary based on the crypto exchange and the amount that you are purchasing. Some exchanges, like Gemini, offer breakpoints to lower the fee if you are trading larger amounts.
Since its inception in 2009, Bitcoin has outperformed every major asset class, including gold, major stock indices, and real estate. No one can predict exactly what the future will hold, but many of Bitcoin’s metrics look promising.
We encourage readers to subscribe to our newsletter, do their own research on Bitcoin, and read the Bitcoin Whitepaper before making any buying decisions.
To buy bitcoin (BTC) in the safest way, choose a trusted exchange and make your purchase. After you’ve made your purchase, consider withdrawing your bitcoin to a self-custody wallet for safekeeping.
The primary fees you’ll pay when buying Bitcoin are trading fees, but you may encounter other costs as well.
- Deposit Fees: Depending on your payment method and the exchange you choose, you may have to pay a deposit fee. Typically, ACH transfers are free, whereas debit and credit card transactions can be costlier.
- Trading Fees: On most exchanges, expect to pay a small percentage of the transaction or a flat fee based on the purchase amount.
- Withdrawal Fees: In most cases, you’ll pay network fees to withdraw your Bitcoin to another wallet. However, if you sell your Bitocin, in many cases, you can withdraw to your bank account with no additional fees.
- Wallet Costs: Most Bitcoin wallets are free, but if you decide to invest in a hardware wallet like a Ledger device, you’ll have to purchase the wallet. Bitcoin hardware wallets can be as affordable as $60, but more advanced ones may cost you a few hundred.
Sources
- Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin.
- Quarterly Earnings. (2023). Coinbase.
- NYDFS GRANTS CHARTER TO “GEMINI” BITCOIN EXCHANGE. (2015.) DFS.
- SEC Filings. (2023). Coinbase.
- The Pros and Cons of Dollar-Cost Averaging. (2023). Finra.
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