{"id":208835,"date":"2021-02-01T07:43:29","date_gmt":"2021-02-01T12:43:29","guid":{"rendered":"https:\/\/insidebitcoins.com\/?page_id=208835"},"modified":"2024-04-17T16:17:25","modified_gmt":"2024-04-17T16:17:25","slug":"buy-bitcoin","status":"publish","type":"page","link":"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin","title":{"rendered":"How to Buy Bitcoin Online Safely"},"content":{"rendered":"
Invest with low fees today in the highest ROI financial asset of the last decade. Buying Bitcoin online has outperformed the S&P 500, commodities, and all other popular investment opportunities.<\/span><\/p>\n Bitcoin is the world’s first and most popular cryptocurrency, rising in value from just a few cents in 2010 to as high as $69,000 just over a decade later, that all-time high being hit in Nov 2021.<\/span><\/p>\n People buy Bitcoin for various reasons. It’s seen as a hedge against inflation, a store of value – like ‘digital gold’ – and a medium of exchange. Many expect it to set new highs following the 2024 Bitcoin halving, and as of 2023, the Bitcoin price is trading at a discount.<\/span><\/p>\n If you’re new to Bitcoin, you’ll want to learn how it works and the best places to buy Bitcoin safely. Many platforms vary in services, trading features, fees, and deposit methods. In this how-to guide, we walk you through how to buy Bitcoin online and review the best crypto exchanges.<\/p>\n Looking for a more comprehensive walkthrough of how to buy Bitcoin online? If so, the section below will show you precisely what you need to do to get your hands on Bitcoin safely and cost-effectively. We use Kraken in this example but all the exchanges and brokers listed below are recommended.<\/span><\/p>\n A Kraken account can be opened quickly via a desktop computer or mobile device. Head to the website or download the mobile app to get started, then fill in the required details, and verify your email address and phone number.<\/p>\n As a centralized exchange, Kraken requires users to upload certain Know Your Customer (KYC) documents due to compliance issues. This will include a photo ID.<\/p>\n Once an account has been set up, it will be possible to fund your Kraken account with fiat via wire or ACH bank transfers, credit card or with crypto.<\/span><\/p>\n With funds in your Kraken account, select the ‘Trade’ button on the home dashboard and search for Bitcoin or BTC. Then select the ‘Buy’ button and input the amount of funds to spend before completing the transaction.<\/p>\n Visit Kraken<\/strong><\/span><\/a>\n<\/p> The Bitcoin market has matured quite a lot. Due to its popularity, there are now several options where you can buy Bitcoin. It is in sharp contrast with what was applicable some years back. <\/span>Everyone provides easy access to digital assets, from crypto-facing exchanges and brokerages to those that serve other asset classes.<\/span><\/p>\n However, the problem with this variety is that finding the best place to buy Bitcoin is a bit challenging. In this guide, we’ve vetted the platforms and provided a condensed section on their features, fees, and what makes each unique.<\/span><\/p>\n To save you from researching dozens of different platforms, below, you will find the best places to buy Bitcoin.<\/span><\/p>\n Kraken<\/a> is a prevalent cryptocurrency exchange founded in 2011 and headquartered in San Francisco. It has been around for quite a while and has offices worldwide. With over 8 million active users, Kraken can be considered one of those exchanges with a strong pull in the industry. At the time of writing, Kraken is the third largest cryptocurrency exchange in terms of volume traded.<\/span><\/p>\n <\/p>\n It supports over 120 popular cryptocurrencies and has constantly seen an increase in the number of promising projects listed. Three major stablecoins – USDC, DAI, and USDT are supported on the platform, along with seven fiat currencies. These include USD, CAD, EUR, AUD, GBP, CHF, and JPY. Regulated by FinCEN, Kraken ensures good security regarding holding assets across both versions of the exchange- <\/span>Kraken<\/span> and Kraken Pro. <\/span><\/p>\n A downside to the exchange is that not using Kraken Pro forces users to pay more fees to participate in advanced trading products like derivatives or futures. Kraken also offers staking services for several assets. Pros<\/strong><\/p>\n Cons<\/strong><\/p>\n Visit Kraken<\/strong><\/span><\/a>\n<\/p> Bitpanda<\/a> is one of the leading cryptocurrency brokers that offers a variety of services like crypto trading, stocks, commodities, and ETFs. Hence, it is no surprise that it has become one of the most trusted spots for investors who want to diversify their investment portfolios. Bitpanda is quite popular among investors in Europe, thanks to its innovative features.<\/p>\n The platform’s support for all sorts of assets makes it possible for investors to keep their Bitcoin, stocks, and other valuable digital commodities in a single portfolio. Also, Bitpanda allows its users to swap any assets in their portfolios for Bitcoin.<\/p>\n <\/p>\n One of the most popular products of this leading exchange is its Visa card. With the Bitpanda Visa Card, you can make ATM withdrawals or buy groceries at supermarkets with your Bitcoin. Since the card is supported by Visa, it can be used anywhere in the world where a Visa card is supported.<\/p>\n Meanwhile, one major aspect of Bitpanda that has earned it a place on our list is its low fees. Bitpanda charges less compared to other platforms and you won’t have to pay any fee for your crypto deposits into the crypto exchange.<\/p>\n Above all, Bitpanda is beginner-friendly. The interface and layout of the platform are well-arranged, allowing investors to enjoy a hurdle-free trading experience.<\/p>\n Pros<\/strong><\/p>\n Cons<\/strong><\/p>\n Visit Bitpanda<\/strong><\/span><\/a>\n<\/p> Coinbase<\/a> is one of the biggest crypto exchanges available and our overall best crypto exchange to buy Bitcoin and other tokens. The exchange offers several benefits, including a straightforward interface and many customer trading pairs.<\/p>\n Headquartered in Wilmington, Delaware, Coinbase is usually the go-to option for crypto newbies in the United States. Trading is also accessible here, with Coinbase’s interface tailored for beginners. If you’re an experienced trader, you can use the Coinbase Pro variant.<\/p>\n <\/p>\n Coinbase is also one of the biggest crypto companies. Asides from its exchange service, it provides trading through its Coinbase Pro platform. Users also enjoy a payment platform for businesses, custody services, and its coin – COIN. Visit Coinbase<\/strong><\/span><\/a>\n<\/p> Launched in 2017, <\/span>OKX<\/span><\/a> is a Seychelles – based cryptocurrency exchange that offers both DEX and CEX that investors can use to buy Bitcoin. OKX DEX is a DEX aggregator that leverages X Routing to find the best liquidity pools with low slippage and network fees, allowing veterans to swap crypto assets for Bitcoin easily without providing any details.<\/span><\/p>\n However, most of the platforms’ features are present in OKX CEX. OKX CEX supports over 350 cryptocurrencies and features utilities like general trading, spot trading, derivatives, and margin trading. The platform also has tools such as Copy Trading and Trading Bots. The former allows users to tap into the trading signals of more successful traders, and the latter will enable investors to automate their trading process.<\/span><\/p>\n <\/p>\n Regarding fees, OKX follows a maker\/taker fee model. The charges start at 0.080%\/0.1% but can be reduced, provided users have enough OKB tokens in their trading account.<\/span><\/p>\n Another reason users prefer OKX to buy Bitcoin is because of OKX Risk Shield. The OKX Risk Shield is an asset-risk reserve where certain portions of a user’s assets are stored. It protects users’ funds from any undue security risks. Visit OKX<\/strong><\/span><\/a>\n<\/p> Bybit<\/span><\/a> is a cryptocurrency exchange that arrived in 2018 and quickly gained traction in 2022 and early 2023 to become among the world’s top 10 cryptocurrency exchanges. Currently positioned at #6, Bybit maintains a regular trading volume of around $600 million.<\/span><\/p>\n <\/p>\n The platform is among the best places to buy Bitcoin because of its many utilities. For one, it allows users to buy Bitcoin or other assets with just one click. And in addition to P2P Trading, Bybit offers spot trading and margin trading facilities.<\/span><\/p>\n <\/p>\n <\/p>\n This cryptocurrency exchange also doubles as an educational platform, offering a learning program that allows users to discover altcoins, learn about DeFi or start trading. And like OKX, it also features Copy Trading and trading bots.<\/span><\/span><\/p>\n Bybit has a standard fee structure with a maker\/taker fee model. The trading fee varies on the type of trade an investor is engaged in. Another determinant factor is whether a user is a VIP or a non-VIP.<\/span><\/p>\n Bybit also has an audited proof of reserve, with a 1:1 reserve on all user’s assets on the platform. Users can view their audit data or the Bybit reserve ratio. Visit Bybit<\/strong><\/span><\/a>\n<\/p> <\/a>On <\/span>Huobi<\/span><\/a> (now HTX), you can buy Bitcoin and own the underlying asset – spot trading – or trade the Bitcoin price action using virtual contracts – derivatives trading, to earn more BTC or more USDT with a long or short position. It offers up to 200x leverage, more than most Bitcoin trading platforms.<\/span><\/p>\n The Bitcoin exchange also has a free grid trading bot that users can set to automate their trades without needing to monitor the Bitcoin markets 24\/7. It displays its backtested ROI for the last week.<\/span><\/p>\n Huobi, also called Huobi Global, was founded in 2013, in the very early days of Bitcoin, becoming a household name and trusted as one of the best places to buy Bitcoin.<\/span><\/p>\n Huobi users haven’t experienced any hacking or data leak issues. <\/span><\/p>\n The exchange offered its assistance to other smaller Bitcoin exchanges that were hacked in the past, such as Bitmart in December 2021, to improve their security protocols.<\/span><\/p>\n Bitcoin can’t be staked, but Huobi offers crypto staking on several other coins and tokens for a high annual yield. Visit Huobi<\/strong><\/span><\/a>\n<\/p> Crypto.com<\/span><\/a> is a relatively new cryptocurrency exchange and mobile app with a metal VISA prepaid card that users can store Bitcoin on and make everyday purchases with Bitcoin and earn up to 8% cashback.<\/span>How to Buy Bitcoin (BTC) – Quick Guide<\/h2>\n
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Where to Buy Bitcoin Online Safely<\/h2>\n
Step 1: Open an Account<\/h3>\n
Step 2: Upload ID<\/h3>\n
Step 3: Make a Deposit<\/h3>\n
Step 4: Buy Bitcoin<\/h3>\n
Where to Buy Bitcoin<\/h2>\n
1. Kraken – Popular Exchange since 2011<\/h3>\n
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2. Bitpanda – Zero Fees on Every Bitcoin Deposit<\/h3>\n
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3. Coinbase – Largest Crypto Exchange in the United States<\/h3>\n
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4. OKX – Buy Bitcoin via DEX or CEX<\/h3>\n
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5. Bybit – Buy Bitcoin via a User-Friendly Crypto Trading Platform<\/h3>\n
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Cons<\/h4>\n
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6. Huobi – Trusted Name to Buy Bitcoin<\/h3>\n
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7. Crypto.com – Crypto Debit Card & App<\/h3>\n