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How to Buy Bitcoin – Invest with Low Fees Today

Looking to buy Bitcoin online? This guide shows you how to buy Bitcoin in less than 10 minutes!
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Author: John Ladeluca
Last Updated: 19 May 2021

Wondering how to buy Bitcoin from the comfort of your home in a safe and low-cost manner? If so, you’ll want to use a regulated Bitcoin broker that not only offers competitive fees – but your preferred payment method.

In this guide, we walk you through the process of how to buy Bitcoin online and discuss the best platforms to do this with.

How to Buy Bitcoin – Quick Guide

Looking at how to buy Bitcoin right now? If so, follow the four quickfire steps outlined below to buy Bitcoin!

  1. Open an account: You’ll first need to open an account with a trusted cryptocurrency broker. We like eToro, as the platform is heavily regulated, supports multiple payment types, and allows you to buy Bitcoin with super-low fees.
  2. Upload ID: As a regulated brokerage site, eToro will ask you to upload a copy of your government-issued ID.
  3. Deposit: You can now deposit funds with a debit/credit card, Paypal, Neteller, Skrill, or a bank wire.
  4. Buy Bitcoin: Search for ‘BTC’ and click on the ‘Trade’ button. Enter the amount of Bitcoin you wish to buy ($25 minimum) and confirm the order.

You will now have Bitcoin in your eToro portfolio. Most investors will keep their Bitcoin funds on the eToro platform until it’s time to cash out. You can, however, also withdraw your Bitcoin to the eToro crypto wallet.

How to Buy Bitcoin – eToro Tutorial

Looking for a more comprehensive walkthrough of how to buy Bitcoin online? If so, the section below will show you exactly what you need to do to get your hands on Bitcoin in the safest and most cost-effective way possible.

Step 1: Open an Account

The end-to-end process of opening an account, depositing funds, and buying Bitcoin can typically be completed in less than 10 minutes at eToro. This is because the platform uses automated technology to verify your personal details.

So, to get the ball rolling, visit the eToro website and look out for the ‘Join Now’ button. You will see a box like the image below and will need to enter your first and last name, email address, phone number, and a username and password.     

eToro sign up

Buy Bitcoin Now

67% of retail investor accounts lose money when trading CFDs with this provider.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

On the next page, you will then be asked for additional personal information – such as your country of residence, home address, date of birth, and national tax number. eToro will then send an SMS to your mobile phone. To complete your registration, enter the code that eToro sends you when prompted.

Step 2: Upload ID

As noted above, eToro is regulated by several reputable bodies. As such, you will need to have your identity verified. You can actually complete this step at a later date – but it does need to be done before you are able to:

  • Deposit more than $2,250
  • Make a withdrawal

With this in mind, it’s best to quickly upload the required documents now to avoid any delays in the future.

This requires a copy of your:

  • Passport, driver’s license, or national ID card
  • Utility bill or bank account statement issued within the last 3 months

In most cases, eToro will authenticate your documents straight away and subsequently remove all account restrictions.

Step 3: Make a Deposit

eToro doesn’t offer direct Bitcoin purchases – meaning that you will first need to deposit some funds. Apart from a bank transfer, all deposit methods are credited to your account instantly.

You can choose from:

  • Debit/credit card (Visa, MasterCard, Maestro)
  • Paypal
  • Skrill
  • Neteller
  • Local bank transfer (country-specific)
  • International bank wire

In terms of fees, eToro charges just 0.5% on deposits – irrespective of the payment method. This is much cheaper than some of its main competitors, with the likes of Coinbase charging 3.99% to buy Bitcoin with a debit card.

Furthermore, if you are a US resident depositing funds with a USD-backed payment method, there is no transaction fee at all. In terms of the minimum deposit, this stands at $50 for US residents and $200 in most other countries.

Step 4: Search for Bitcoin

At this stage of our step-by-step guide, you should now have an eToro account that is funded. Now it’s time to buy Bitcoin. The easiest way of doing this is to enter ‘BTC’ into the search box at the top of the page.

where to buy bitcoin

Then, you’ll need to click on the ‘Trade’ button to open up an order box.

Step 5: Buy Bitcoin

You can now buy Bitcoin by entering the size of your stake into the ‘Amount’ box($25 minimum).

buy bitcoin at etoro

Finally, click on the ‘Open Trade’ button to complete your investment!

Step 6: Sell Bitcoin

Depending on how Bitcoin investment strategy, you might decide to keep hold of your digital tokens for several days, weeks, months, or even years. Either way, you can safely keep your Bitcoin at eToro until you decide to cash out.

When you do, it’s just a case of clicking on the ‘Portfolio’ button and then initiate the sale. The funds will be added to your eToro balance as soon as you confirm the sell order.

Where to Buy Bitcoin

In a time not so long ago, there were only a handful of places that you could buy Bitcoin online. Fast forward to 2021 and there are now hundreds of cryptocurrency brokers and exchanges that allow you to invest in Bitcoin at the click of a button.

This does, however, make it somewhat challenging to know where to buy Bitcoin – as there are simply so many providers to choose from.

To save you from having to research dozens of different platforms, below you will find the best places where to buy Bitcoin in 2021.

1. eToro – Overall Best Place to Buy Bitcoin

etoro logo

eToro is now a fan-favorite with crypto investors and is arguably the best place to buy Bitcoin. This online broker offers a huge variety of assets and markets – which includes plenty of leading digital currencies. Not only can you buy heavyweight crypto-assets like Bitcoin, Ethereum, and Ripple – but Defi coins like Aave, Kyber Network, and Augur.

There are many reasons why eToro has grown its client base to over 20 million investors. Firstly, the platform is really easy to use – so if this is your first time buying Bitcoin online – eToro has you covered. Additionally, eToro offers super low commissions, so you can buy Bitcoin without being charged hefty fees.

buy bitcoin

This is also the case when it comes to depositing and withdrawing funds into and from your account. For example, regardless of whether you decide to use Paypal, a debit/credit card, Skrill, Neteller, or a bank wire – you’ll only pay 0.5%. Plus, if you’re based in the US, there are no deposit fees at all. When it comes to safety, eToro is regulated by several reputable bodies.

This includes the FCA (UK), ASIC (Australia), and CySEC (Cyprus) – so you’re covered on three fronts. In fact, eToro is also approved by FINRA and the SEC in the US – so American traders can buy and sell Bitcoin safely. eToro also stands out for us as it offers innovative social trading features. This includes the ability to follow, like, and comment on the platform – subsequently allowing you to communicate with other eToro traders.

how to buy bitcoin etoro

Past performance is not an indication of future results.

There is also a copy trading feature that is likely to be of interest if you want to invest passively. All you need to do is select a successful eToro investor that you like the look of and all future buy/sell orders will be mirrored in your own account. For example, if the trader allocates 7% of their portfolio into Bitcoin and 3% into Uniswap, you will copy the exact trade at an amount proportionate to what you invested.

Pros

  • Super low cryptocurrency fees
  • Supports debit/credit cards and Paypal
  • Over 2,400 global shares and 250 ETFs
  • CFD markets also offered
  • Social network with copy trading
  • Regulated by the FCA, ASIC, and CySEC
  • Approved by the SEC and FINRA

Cons

  • Withdrawal and inactivity fees

Buy Bitcoin Now

67% of retail investor accounts lose money when trading CFDs with this provider.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

 

2. Capital.com – Trade Bitcoin CFDs Commission-Free

Capital.com LogoDid you know that the Bitcoin trading industry is now home to billions of dollars in volume each and every day? Crucially, there is a huge marketplace for people that wish to buy and sell Bitcoin pairs on a short-term basis – with the view of making money from rising and falling prices. If this is something you’d like to consider, Capital.com is the best broker for the job.

Specializing in CFDs (contracts-for-differences) Capital.com offers dozens of cryptocurrency pairs that contain Bitcoin. Not only does this include crypto-to-fiat pairs, but crypto-cross markets too. Regarding the former, you can trade the future value of Bitcoin against major currencies like the US dollar, British pound, euro, and Japanese yen. You can even access BTC-fiat markets that contain emerging currencies like the Hungarian forint, Belarusian ruble, and Thai baht.

capital.com Bitcoin CFDs

Alternatively, if you’ve got a bit of experience in cryptocurrency trading, you might also consider speculating on the exchange rate between Bitcoin and another digital asset. For example, you can trade Bitcoin against Quantum, Cardano, Ethereum, Bitcoin Cash, Bitshares, and heaps more. As noted above, you will be trading Bitcoin CFDs at Capital.com – meaning that you do not own the underlying cryptocurrency.

This is hugely beneficial for many reasons, as you don’t need to worry about storage, wallets, or private keys. Additionally, by trading Bitcoin CFD instruments, you can choose from a long or short position. This means that you speculate on the Bitcoin pair going up or down depending on your own market research. Depending on your country of residence, you might also be able to trade Bitcoin with leverage.

capital.com Bitcoin CFDs

This is usually capped to 1:2, albeit traders in certain countries will get significantly more. And of course – by trading Bitcoin CFDs at Capital.com – you won’t pay any commissions and spreads are super-tight. If you’re a bit apprehensive about trading leveraged CFDs – Capital.com has you covered. Not only will you find a plethora of educational materials and guides – but the broker offers a free demo trading facility.

This allows you to trade Bitcoin CFDs in a risk-free manner. When you are ready to trade with real capital, the minimum deposit requirement when using a debit/credit card or e-wallet is just $20. Bank transfers require a minimum of $250, so do bear this in mind. When it comes to credibility, Capital.com is authorized and regulated by the FCA and CySEC – so you have the safety net of two reputable financial bodies.

Pros:

  • Educational app for new traders
  • Commission-free trading
  • Tight spreads
  • Leverage offered
  • AI assistant identifies your weak points
  • Excellent charting and analysis interface
  • $20 minimum deposit

Cons:

  • Cannot build custom investment strategies
  • CFDs only

Buy Bitcoin Now

71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

 

3. Binance – Top-Rated Crypto Exchange to Buy Bitcoin

Binance Logo

Binance is one of the largest crypto exchanges in the Bitcoin arena – especially when it comes to daily trading volume. In the 24 hours prior to writing this guide, the platform facilitated trading activity of more than $160 billion. In choosing Binance to buy Bitcoin, you will have access to hundreds of pairs.

This gives you a lot of flexibility when it comes to completing the investment process. For example, if you already hold a digital currency – you’ll likely be able to use Binance to convert it into Bitcoin. This will result in a tiny trading commission of just 0.1% and you will able to initiate the exchange without providing any personal information or identity documents.

binance buy bitcoin credit card

If, however, you want to buy Bitcoin with fiat currency – this is also supported. The cheapest option on the table is to complete a bank transfer, albeit, depending on where you live this might take a couple of days for the funds to arrive. If you want to benefit from a super-fast deposit, you might consider using your debit or credit card. You’ll first need to go through a KYC process by uploading a copy of your government-issued ID.

Then, it’s just a case of entering your card details, selecting Bitcoin from the drop-down list, and deciding how much you wish to buy. When it comes to debit/credit card fees, this will vary depending on where you live. For example, this typically averages 3-4% of the transaction amount but can be lower in other jurisdictions. Nevertheless, Binance is also a good option if you want access to sophisticated Bitcoin trading products.

binance savings account

For example, Binance supports a full range of cryptocurrency derivative markets – which includes Bitcoin futures and options. Both of these marketplaces can be traded with leverage. Binance even gives you the option of earning interest on your cryptocurrency holdings via its savings account. Bitcoin will attract an APY of just 1.20%, but other cryptocurrencies pay much more. For example, you can earn 5.79% and 5.05% on BUSD and USDT, respectively.

Pros

  • Largest cryptocurrency exchange in terms of trading volume
  • Hundreds of cryptocurrency pairs supported
  • Trading commission of just 0.1%
  • Supports debit/credit cards and bank transfers
  • Great reputation in the cryptocurrency scene
  • Ideal for advanced traders that seek sophisticated tools and features

Cons

  • Not great for newbie investors
  • Debit/credit card fees are expensive

Visit Binance Now

Your Capital is at risk.

What is Bitcoin?

Many first-time investors will look to buy Bitcoin even though they don’t understand what it is or how it works. This can be a costly mistake, as it’s crucial to have a firm grasp of the financial instrument you are trading. After all, you’ll be risking your hard-earned money by buying Bitcoin – so knowledge is imperative.

So, what is Bitcoin?

  • The easiest way to describe Bitcoin is that it is a digital currency that allows you to send and receive value digitally.
  • As a digital currency, Bitcoin exists in virtual form – unlike traditional money.
  • The underlying technology that backs Bitcoin is called the ‘Blockchain’ – which allows transactions to take place in a decentralized manner.
  • This means that no single party or authority has control over Bitcoin.

When sending Bitcoin to another person, the transaction is completed on a wallet-to-wallet basis. This typically takes 10 minutes to process – irrespective of where the sender and receiver are based.

what is bitcoin?

Although Bitcoin was created as a way to challenge traditional payment networks – the vast majority of people that buy this digital currency do so for speculative reasons. This means that they jump on the bandwagon with the hope that Bitcoin will be worth much more in the future.

Why Buy Bitcoin? Bitcoin Analysis

As noted above, you are likely looking to buy Bitcoin because you think that the digital currency represents a good investment. But does it?

If you’re still not sure whether Bitcoin is right for your portfolio, below we list some of the key reasons why you might decide to invest today.

Yield Potential

Depending on where you live, by keeping your money in a bank account you will be lucky to earn more than 1% per year in interest. This won’t even cover the rate of inflation – so you are essentially losing money. You then have the likes of stocks – which historically have generated a much better rate of return.

However, nothing quite compares to the rate of growth that Bitcoin has experienced since it was launched in 2009. Back in the early days, Bitcoin was worthless, not least because very few people knew about it. In fact, even in 2011 the digital currency was worth just $1 per coin.

why buy bitcoin?

If we fast forward to mid-2021, Bitcoin has since hit all-time highs of more than $62,000. Compared to its price just a decade earlier, this represents growth of over 6 million percent. To put it another way, had you invested just $100 back in 2011 – your money would now be worth millions of dollars.

Although you might be thinking that you’ve missed the boat – this isn’t the case at all. For example, Bitcoin hit lows of $5,000 in 2020. Had you invested in the digital currency at that point, you would have since realized gains of over 1,000%.  Ultimately, attractive yields like this are few and far between in the financial market.

Bitcoin is Finite

Finite asset classes are typically viewed as stores of value – as there is a limited supply that will eventually be reached. Think along the lines of gold – which over the course of time has continued to increase in value. This is no different from Bitcoin – which will eventually reach a maximum supply of 21 million coins.

This is great news for investors, as in theory, this finite supply should see the digital currency both retain and increase its intrinsic value. Crucially, and unlike fiat currencies such as the US dollar and euro – Bitcoin is not controlled or backed by a central bank. In turn, this means that the Bitcoin supply cannot be artificially increased or manipulated.

Invest Small Amounts

There is often a misconception that you need to purchase an entire Bitcoin to enter this marketplace. At $62,000 per coin – this would be out of reach for most. However, as a digital currency, it makes sense that Bitcoin can be fractioned into much small units. In fact, a single Bitcoin can be split into 8 decimal points.

You will, however, need to ensure that you are using a cryptocurrency broker that permits small investments. This is why eToro has proven so popular with newbies, as the platform allows you to invest in Bitcoin from just $25 upwards. This allows you to gain exposure to this volatile asset class with sensible amounts.

24/7 Marketplace 

When you invest in Bitcoin – you are purchasing an asset class that benefits from significant levels of liquidity. For example, over the past 24 hours alone, more than $68 billion worth of Bitcoin has changed hands.

This is crucial, as it means that your investment is never locked up. Instead, you can sell your Bitcoin back to cash 24 hours per day, 7 days per week.

It’s now Possible to Earn Interest 

Another major development in the Bitcoin arena is that it is now possible to earn interest. This isn’t generated by Bitcoin itself – but third-party platforms. The way it works is as follows:

  • You join a cryptocurrency lending platform
  • You deposit $2,000 worth of Bitcoin into the platform
  • The platform uses this money to fund loans
  • In return, you earn interest on your funds for as long as you keep Bitcoin locked away

When electing to earn interest on Bitcoin – so you still benefit from rising markets. For example, if you keep your Bitcoin stored at a lending platform for one year – and in that time the digital currency has increased by 50% – you will realize these gains as soon as you decide to cash out.

Ways of Buying Bitcoin

If you’re looking at how to buy Bitcoin for the first time, you need to think about which method to take. For example, are you looking to buy Bitcoin with a debit card or do you prefer Paypal?

In the sections below, we outline the best ways of buying Bitcoin from the comfort of your home.

Buy Bitcoin with PayPal

If you want to buy Bitcoin with Paypal – we found that eToro is by far the best online broker for the job. All you need to do is log into Paypal when the pop-up box instructs you to, and the deposit will be completed instantly.

Buy Bitcoin with Credit Card

If you want to buy Bitcoin with a credit card – there are many online brokers that can facilitate this. However, there are a couple of things to note. Firstly, some platforms will outright refuse to accept credit cards – such as Coinbase. As such, you need to check this before signing up.

buy bitcoin with credit card

Secondly, and perhaps most importantly, some credit card issuers will define a Bitcoin purchase in the same light as a ‘cash advance’. For those unaware, this means that you will need to pay a cash advanced fee that averages 3-5%. Plus, the interest will start accumulating as soon as the transaction is completed.

This is something that you will need to speak with your credit card issuer about before completing the transaction. Nevertheless, if you’re wondering where to buy Bitcoin with your credit card – this is supported by eToro.

Buy Bitcoin with Debit Card

If you want to buy Bitcoin with a debit card – this is potentially the most common way of completing the process. You do, however, need to check what fees your chosen broker charges.

For example, Coinbase charges 3,99% to buy Bitcoin with a debit card – while the likes of Coinmama charge even more. Over at eToro, this costs just 0.5% and nothing if you are based in the US.

Bitcoin ATM

The other option that you might have come across is to buy Bitcoin from a specialist cryptocurrency ATM. There are thousands of such terminals scattered around the world and the process typically works as follows:

  • You find your nearest Bitcoin ATM
  • You enter the amount of Bitcoin you want to buy in terms of your local currency – e.g. $200
  • The ATM will tell you how much Bitcoin you will get for your chosen investment amount
  • You enter the cash into the Bitcoin ATM
  • The ATM prints a receipt containing details of how you can claim your newly purchased Bitcoin

The main drawback with using Bitcoin ATMs is that the fees are often astronomical. In fact, this can average 10-20% of the transaction amount in some locations.

How to Buy Bitcoin Stock

We get a lot of questions regarding how to buy Bitcoin stock. However, this is usually on the basis of a misunderstanding of how the digital currency works. For example, there is no such thing as a Bitcoin stock – as the project is a decentralized payments network as opposed to a publicly traded company.

There are, however, a number of so-called buy Bitcoin stock companies that are involved in the cryptocurrency industry.  For example, you can buy Bitcoin stocks in Riot Blockchain and Marathon Digital Holdings – both of which are involved in digital currency mining.

coinbase stock price

You can also buy Bitcoin stock in the mining organization Hive Blockchain. Additionally, you can also buy Bitcoin stock in the popular cryptocurrency exchange Coinbase – which went public in 2021. All in all, if you’re wondering how to buy Bitcoin stock – just remember that you are investing in a separate entity and not the digital currency itself.

Bitcoin Price

The price of Bitcoin – like all financial instruments, will move up and down throughout the day. Volatility levels are particularly high in this industry – with Bitcoin often moving by 5-10% in just 24 hours of trading – sometimes more. Whether the price of Bitcoin increases or decreases is based on market forces.

  • In other words, if market sentiment on Bitcoin is strong and more people start investing – the price will naturally increase.
  • This is exactly what has been happening since Bitcoin hit lows of $5,000 in early 2020.

In terms of supported currencies, Bitcoin is largely traded and quoted against the US dollar. This makes it easier to analyze Bitcoin on a global scale. However, it’s also possible to buy Bitcoin in other currencies – such as the euro, British pound, or Australian dollar.

Bitcoin Price Prediction

There are many Bitcoin price predictions available in the online domain – many of which are not based on any tangible financial data. For example, you have controversial commentators like John McAfee that predicted in 2017 that Bitcoin would surpass $1 million in 2020. It goes without saying that this prediction did not come to fruition.

On the other hand, some commentators will make Bitcoin price predictions based on technical analysis. This looks at historical pricing data with the view of predicting future trends. However, some would argue that technical analysis is somewhat limited when it comes to Bitcoin price predictions – as the digital currency is so speculative.

bitcoin price prediction

Instead, it could be better to try and focus on current market sentiment. For example, when Bitcoin is in a rapid upward trend, many investors will enter the market for the first time on the basis of FOMO (Fear of Missing out). If you can catch this trend early, you stand to buy Bitcoin at a very favorable time.

Investing in Bitcoin vs Trading Bitcoin

As we briefly covered in our Bitcoin exchange reviews, there are several ways in which you can gain exposure to this digital currency. Largely, this centers on ‘investing in’ Bitcoin and ‘trading’ Bitcoin.

It’s important that your chosen Bitcoin instrument mirrors your financial goals, investment strategy, and tolerance for risk – so below we explain the difference between the two.

Investing in Bitcoin

Most people – especially first-timers, will look to invest in Bitcoin in the conventional way. This means that you use an online broker or exchange to buy Bitcoin, keep the coins in a digital wallet, and then cash out at some point in the future.

how to invest in Bitcoin

In most cases, by investing in Bitcoin, you are looking to make money in the long run. This means that you might keep hold of your Bitcoin for many, many years. History suggests that since Bitcoin was launched in 2009 – a long-term buy and hold strategy is by far the most favorable.

Crucially, you don’t need to concern yourself with short-term volatility and pricing spikes. Instead, you can sit back and leave your Bitcoin investment to mature over the course of time.

Trading Bitcoin

Those that trade Bitcoin typically have no affiliation with the cryptocurrency. On the contrary, the individual will look to make and enter regular positions on Bitcoin, with the view of making consistent gains.

  • This means that on one day, the trader might decide to go short on Bitcoin.
  • On another, a long position might be entered.
  • Either way, when you trade Bitcoin, you will rarely keep your position open for more than a few days to weeks.
  • This is known as swing trading, although it’s also possible to day trade Bitcoin.

An additional common feature when trading Bitcoin is that many will apply leverage. This means that you can trade with more money than you have in your account.

Regulated brokers typically cap this to 1:2 – meaning a $500 stake is doubled to $1,000. However, there are also a number of unregulated cryptocurrency exchanges that offer leverage of 1:100 or more. These platforms should be avoided as you will be entrusting your capital with an unlicensed provider.

Best Bitcoin Wallet

As we have explained through this guide, if you want to invest in Bitcoin you need to think about where you are going to store your digital funds.

There are hundreds of Bitcoin wallets in the markets these days – some of which can be accessed via a mobile app or desktop software. It’s even possible to store your Bitcoin on a hardware device.

Nevertheless, below we discuss the best Bitcoin wallets in the market right now.

eToro Bitcoin Wallet

The eToro Bitcoin wallet comes with a plethora of handy tools and features – all of which are suitable for inexperienced traders. Not only does the wallet allow you to safely store your Bitcoin – but 120 other digital currencies. This is super-useful if you are invested in a full range of crypto assets and want to store all of your coins in a single wallet.

The eToro wallet can be downloaded free of charge to your iOS or Android device. Once you have set the wallet up, you will have the option of buying and selling cryptocurrencies without leaving the app. You can also exchange one cryptocurrency into another – with eToro supporting more than 500 pairs.

etoro bitcoin wallet

When we explored security features, we found that the eToro Bitcoin wallet is authorized and regulated by the Guernsey Financial Services Commission (GFSC). You will also benefit from a password recovery service, that allows you to regain access to your wallet in the event you misplace your private keys.

Trust Wallet (Binance)

The other option that is worth considering in your search for the best way to store your Bitcoin is the Trust Wallet. Backed by leading cryptocurrency exchange Binance – the wallet is suitable for both newbie and experienced investors. Available on both iOS and Android devices, the Trust Wallet comes via a mobile app.

  • As the Trust Wallet is decentralized, you will have full control over your private keys and passphrase.
  • As such, if you misplace your credentials, Binance will not be able to help you regain access to the wallet.
  • The Trust Wallet supports over 160 digital currencies from a magnitude of blockchain networks – which includes ERC20 and ERC223 tokens.

We also like the decentralized exchange that is built into the Trust Wallet. This allows you to seamlessly convert one digital coin into another without needing to go through a centralized third party. It is also possible to buy Bitcoin from within the Trust Wallet.

Bitcoin Reddit – Keep Up to Date with Bitcoin News

If you’re looking to read and share Bitcoin-related news developments with like-minded investors – it’s worth considering Reddit. The online forum is home to a huge Bitcoin community that now consists of over 2.9 million subscribers.

bitcoin reddit group

You will find interesting posts and viewpoints from the Bitcoin Reddit group around the clock. Although you can view posts as a non-member, it’s best to quickly open an account with Reddit so that you can post and reply to comments.

eToro – Best Place to Buy Bitcoin

Bitcoin has once again shown the global investment world that it is here to stay in the long run. With the digital currency increasing in value by over 1,000% in the past 12 months alone – it’s clear to see why so many people are now looking to buy Bitcoin for the very first time.

If you are ready to take the cryptocurrency plunge and wish to buy Bitcoin right now – you can complete the process at regulated broker eToro in less than 10 minutes. All you need to do is register and deposit funds with a debit/credit card, bank account, or e-wallet – and you’ll have Bitcoin in your possession!

etoro logo

Buy Bitcoin Now

67% of retail investor accounts lose money when trading CFDs with this provider.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

FAQs

How do you buy bitcoin?

There are many ways in which you can buy Bitcoin, albeit, the safest and most convenient is to use an online broker. For example, by using eToro - you have the backing of several reputable financial bodies. All you need to do is open an account, make a deposit with a debit/credit card or e-wallet, and decide how much you wish to invest in Bitcoin!

Should I buy Bitcoin?

Whether or not you should buy Bitcoin is your decision. On the one hand, Bitcoin is super volatile and can experience rapid price shifts on a day-to-day basis. But, Bitcoin is one of the best performing asset classes in recent years. With that in mind, if you do have an interest in Bitcoin but have a low tolerance for risk - just make sure you keep your stakes conservative.

What is the best way to buy Bitcoin?

If you're wondering where to buy Bitcoin - the best option is to use a regulated online broker - such as eToro. Not only will you be able to buy Bitcoin safely, but you can use a debit/credit card, bank account, or even an e-wallet like Paypal.

How does Bitcoin work?

In its most basic form, Bitcoin is a digital currency that is not backed by a central bank or government. The network is decentralized - so no single entity has control over Bitcoin. In terms of how Bitcoin works from an investment perspective, this operates the same as an asset like stocks. That is to say, the value of Bitcoin will rise and fall depending on market sentiment. If you sell Bitcoin for a higher price than you originally paid - you will make money. Don't forget to consider where to buy Bitcoin - as commissions and fees can vary wildly.

How much is Bitcoin worth

Bitcoin will move up and down in value on a second-by-second basis. At the time of writing this guide on May 18th, 2021, Bitcoin is trading at $45,000. Just a few weeks earlier, the digital currency was worth over $62,000.

How do you mine Bitcoin?

The days of being able to mine Bitcoin from the comfort of your home are long gone. Instead, this industry is dominated by large-scale mining farms that have vast technological resources. The only way to mine Bitcoin as an Average Joe is to join a cloud mining farm. However, there are many scam artists in this space, so do tread with caution.

What is Bitcoin Cash?

Much like Bitcoin, Bitcoin Cash is a cryptocurrency that can be bought and sold with ease. The Bitcoin Cash blockchain was actually copied from the original Bitcoin code in 2017. If you're wondering where to buy Bitcoin Cash, the digital currency is supported by eToro.

Remember, all trading carries risk. Past performance is no guarantee of future results.

Article Info

Author: John Ladeluca

Last Updated: 19 May 2021

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John Iadeluca is the founder of the Wall Street hedge fund Banz Capital. He's a blockchain developer, quant, and consultant that specializes in the digital asset sector. He is an authority on blockchain and has written for a number of publications including Forbes.com.

14 thoughts on “How to Buy Bitcoin – Invest with Low Fees Today”

    1. Hello Parkin, yes, Coinbase is among the safest cryptocurrency platforms in the industry and it uses secure payment gateways for credit card payment. However, if you are feeling confused about Coinbase, you can try eToro which as secure as Coinbase and offers multiple payment methods.

      Reply

  2. I am from India and want to buy a bitcoin, but I am not sure how to do it legally? I have heard how there are a few ways, but which one is the easiest? Can I buy it with a credit card?

    Reply

    1. Hello Andrew, entities regulated by the RBI (Reserve Bank of India) are restricted from buying or selling cryptocurrencies completely. However, even after very strict regulations in India, you can buy cryptocurrencies as an individual. The best way for you to do so is by using eToro – a top-tier platform and asset broker which is operating in over 60 countries including the United States, UK, Australia, France, Germany, and many more.
      eToro offers multiple payment methods including bank transfers, credit cards, and PayPal. You can use this tutorial to get started on eToro. You can also trade stocks and other commodities on the platform.

      Reply

  8. Where is the most secure way to buy bitcoin?
    Please can you provide more information about this as I will love to invest in bitcoin and I need to be certain of I should go on or just put a pause to it.

    Reply

    1. Hello Jake, you can assess the security of any cryptocurrency broker, exchange, or wallet by doing background research on their operations. Exchanges that do not possess a license from the regulatory authorities in the country they are operating in should not be trusted at all.
      eToro is among the most trusted digital asset brokers and platforms in the world. The company is licensed from multiple national and international regulators which makes the platform the best choice for you. Moreover, you can also trade other commodities like oil, gold, and stocks on eToro, making it a one-stop solution for all your trading needs. The platform has deployed the most secure authentication algorithms to make sure that no one gets access to your account and your funds are safe. The company also uses top-notch security software for its servers and wallets.

      Reply

  9. I have been using insidebitcoins.com for a while and happy with all round service, fees and ability to buy with cards.

    Reply

  10. Where are top three places to buy bitcoin? I can’t decide. I’ve read through all the information they all look good.

    Reply

    1. Hello William, our most recommended trading platform for you is eToro. This is because eToro has secured countless licenses and certifications that prove the company’s authenticity and security. Another reason for eToro being our top pick is that the platform deals with commodities and stocks along with digital assets too.
      You can also look into Binance and Coinbase crypto exchanges as they also are extremely secure and authentic. Their only drawback is that these exchanges are limited to trading cryptocurrencies only.

      Reply

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eToro: Buy Bitcoin

eToro: Buy Bitcoin

eToro: Buy Bitcoin

Visit eToro

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

eToro: Buy Bitcoin
Visit eToro

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

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