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Best Places To Buy Bitcoin (BTC)
You can buy Bitcoin online through a centralized crypto exchange. But with so many exchanges, it can be not easy to pick the right one. We’ve rounded up the best exchanges to buy $BTC so you can easily compare:
- By bit: 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) | OK |
| 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 |
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 or 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 of 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 support PayPal purchases for Bitcoin and other crypto tokens.
Buy Bitcoin With Bitcoin ATMs
Another option is a Bitcoin ATM. A Bitcoin ATM lets you buy and sell cryptocurrencies using cash or debit cards. However, you may need a Bitcoin wallet to make a transaction. In addition, transaction fees can be high.
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.