How to Buy Bitcoin – Beginner’s Guide

Buy Bitcoin

The whole process of buying Bitcoin without leaving the comfort of your own home shouldn’t take you more than ten minutes to finish, and it shouldn’t take any longer than that. It is sufficient to sign up for an account with a Bitcoin broker, transfer in some funds, and then set your desired stake.

If you’ve never bought something with Bitcoin before, this guide will walk you through the process of doing so in a way that’s both safe and affordable.

How to Buy Bitcoin Easily & Safely

The following is a condensed guide that will walk you through the steps necessary to buy Bitcoin in the United States at this time. eToro is a broker that is authorised by the Securities and Exchange Commission, and we are going to teach you how to purchase Bitcoin for as little as $10 via their platform in this post.

Step 1 Register an eToro Account  To get started, visit the eToro website and provide your personal information in order to create an account there.

The second step is to deposit funds into the account. You will never be charged a fee to fill your eToro account with as low as ten dollars if you want to do it in US dollars. You have the option of using a debit card, credit card, or electronic wallet in order to expedite the processing of your deposit.

Step 3 is where you should look for bitcoins. In order to proceed, first put “Bitcoin” into the search field, and then choose “Trade” from the drop-down menu.

The next step is to make an investment in Bitcoin by first inputting the entire amount that you want to spend and then clicking the “Open Trade” button.

Step 4 After the completion of your transaction, eToro will subtract the cost of the purchase from the total amount of cash you have available and then add the Bitcoin tokens that you have just acquired to your portfolio.

If you continue down this page, you will find a detailed instruction that will walk you through the process of using eToro to acquire Bitcoin in the United States.

Where to Buy Bitcoin – Best Platforms

Bitcoin may be easily purchased over the internet since there are dozens of websites dedicated to trading cryptocurrencies, many of which offer instant payment methods. This indicates that you have flexibility in terms of how you fund the investments you make in bitcoin over the long term.

Be mindful, however, of the costs that the platform in issue levies, as well as the subject of whether or not it is governed by a reputable monetary organisation.

Bitcoin (BTC), one of the digital assets with the highest market value, is the best option for cryptocurrency investors who are looking for the most valuable coins to mine in the year 2022.

There are now reviews available for five distinct locations where one may purchase Bitcoin.

1. eToro – Overall Best Place to Buy Bitcoin in 2022

The online financial trading platform known as eToro has garnered more than 27 million members since it was first made available in 2007. If you use eToro to make a Bitcoin purchase, you will not be charged any additional fees to store your BTC in the safe and secure eToro Money crypto wallet.

The platform is regulated by the SEC, FCA, ASIC, and CySEC, and FINRA is listed as a participant in the official documentation. In less than five minutes, you will be able to open an account and begin financing it using any of the following options: a debit or credit card, an automated clearing house (ACH) transfer, a wire transfer of US dollars, or a transfer utilising your bank’s online bill pay service.

This suggests that you may purchase Bitcoin using your bank account, electronic wallet, or debit card if you want to do so.

There is no fee associated with any deposits made in USD, and this includes deposits made via various electronic wallets.

Among the many excellent choices available, eToro is one of the best when it comes to purchasing new cryptocurrencies with minimal spreads, such as Sandbox.

Because of this, eToro is a highly cost-effective option to explore if you are looking for a place to buy Bitcoin using fiat currency.

After you have deposited funds into your account, you will be able to buy bitcoin by using the spread alone (the difference between the asking and bidding prices).

Users of eToro not only have the ability to invest in cryptocurrencies, but they also have access to some of the most popular Bitcoin exchange-traded funds on the market.

Since the inception of the eToro platform in 2007, more than 27 million individuals have signed up for the service. If you use eToro to purchase Bitcoin, you will be able to keep that Bitcoin in the secure eToro Money crypto wallet at no extra cost.

FINRA has been identified as a user of the platform, and the SEC, FCA, ASIC, and CySEC are among the regulatory bodies that oversee it. You may establish an account and begin depositing money using any major credit or debit card, an ACH transfer, or a wire transfer of US dollars in less than five minutes using any of these three methods: This implies that you may purchase Bitcoin using the bank account, digital wallet, or debit card associated with your financial institution.

Your choice of payment method does not affect the fact that there is no fee associated with adding USD to your account (credit card, bank transfer, or digital wallet). eToro is recognised as one of the top platforms for acquiring specialised cryptocurrencies such as Sandbox at affordable spreads.

In light of this, eToro is an alternative that is kind to one’s wallet when it comes to purchasing Bitcoin using fiat cash. After you have added funds to your account, you will be able to purchase bitcoin using the spread alone (the difference between the asking and bidding prices). Users of eToro have the ability to invest not only in cryptocurrencies but also in the most successful Bitcoin ETFs currently available on the market.

Coinbase – Good Place to Buy Bitcoin as a Beginner

Coinbase is not only one of the best cryptocurrency exchanges that citizens of the United States have access to, but it is also one of the most user-friendly.

Coinbase simplifies the process of opening an account with its user interface that is both straightforward and devoid of technical jargon. After you have been authenticated, you will then be able to transfer money for free via ACH.

After the funds have been transferred to your Coinbase account, you will be able to make Bitcoin purchases for a charge of 1.49 percent.

When purchasing Bitcoin via Coinbase using a debit or credit card, extra costs of roughly 4 percent are applied. Bitcoin purchases are already thought to be expensive. Using this strategy, you will, nonetheless, be able to buy Bitcoin in an instant.

On Coinbase, you have access to other digital currency exchanges that you may use if you decide to diversify your holdings.

This indicates that you will be able to acquire exposure to the cryptocurrency markets’ most undervalued assets in 2022 without having to leave the convenience of your own home.

Coinbase is an option that you might consider using if you are looking for a secure location to store your Bitcoin tokens. In order for users to successfully log in to the system, a two-step verification process is required to be completed.

Additionally, 98 percent of client money is held in cold wallets, and an extra verification step is necessary if a user tries to log in from a device or IP address that has not been previously authorised.

This ensures that the security of the customer’s funds is not compromised. Check out our post on the top cryptocurrency cold wallets for additional information and perspectives.

You are able to buy Ethereum, Dogecoin, and a range of other well-known cryptocurrencies immediately from your mobile device if you use Coinbase. In addition, Coinbase supports a wide variety of digital assets, giving you this ability.

3. Binance – Popular Bitcoin Exchange Offering 60+ Markets  

  

A digital currency trading platform known as Binance was launched in the year 2017. The platform is used by more than one hundred million users on a daily basis and executes transactions that amount to billions of dollars’ worth of business each and every day.

Customers in the United States who utilise the Binance exchange may buy bitcoins using debit cards, credit cards, or a combination of the two. Nonetheless, there is a significant expense associated with it, which is equal to 4.5 percent of the total.

In addition, an immediate buy fee equal to 0.5 percent of the total amount of cash deposited into your account will be deducted in order to cover the cost of processing your Bitcoin purchase.

Despite this, the fees associated with spot trading on the major Binance exchange are just 0.10 percent. Due to the intense competition that exists in this market, Binance might be a good alternative for you to consider if you engage in crypto-to-cryptocurrency trading on a regular basis.

More than 60 different markets are supported by the US version of Binance. This includes a wide variety of cryptocurrencies, ranging from the most significant ventures to the most minor ones.

Binance provides an over-the-counter service in addition to a cutting-edge trading platform that has better analytical tools. This allows Binance to cater specifically to experienced traders.

Did you know that Terra Luna, along with other emerging cryptocurrencies like Celo, can be purchased on Kraken, the largest cryptocurrency exchange in the world, for some of the lowest transaction fees in the industry? Other emerging cryptocurrencies like Celo are also available for purchase on Kraken.

4. Webull – Buy Bitcoin From Just $1  

Webull was designed with the purpose of making the buying and selling of stocks, ETFs, options, and cryptocurrencies in the United States simple and convenient for investors. You should be able to have an account set up for trading cryptographic tokens in a short period of time, either online or via the Webull crypto trading app, whichever you choose. Because Bitcoin cannot be bought with a debit or credit card, or with an electronic wallet, you will need to transfer money using either an automated clearing house (ACH) transaction or a wire transfer from your bank.

Customers of Webull are not required to pay the customary trading commissions in order to make trades. However, you will need to take into consideration spreads that are at least one percent. In any event, one of the most alluring aspects of Webull is the fact that it has a low minimum investment level of just one dollar, which is enough to begin acquiring Bitcoin. In point of fact, this is the case with each and every one of the cryptocurrencies that can be acquired via Webull.

In addition, there is no need for a minimum deposit to open an account on this website. Webull is an excellent option to consider if you want to put money away for your retirement since it offers a number of different IRAs. Finally, Webull allows trading on margin, but the minimum amount in your account must be $2,000 before you can do so.

5. Kraken – Safe Cryptocurrency Exchange to Buy Bitcoin via a Bank Wire 

If you want to make a buy of bitcoin, Kraken is the final exchange that you should consider using.

This particular online marketplace has been operational since 2013, making it one of the establishments of its sort with the longest history.

Clients in the United States are able to rapidly register an account and transfer money from a local bank in the United States.

When utilising ACH, you are only permitted to make withdrawals. The minimum opening deposit required by Kraken is determined on the financial institution that you choose.

For example, the lowest amount required to submit a payment via MVB Bank is merely one dollar, but the lowest amount required to transfer through Etana Custody is one hundred fifty dollars.

However, after your wire transfer has been processed by your bank and put into your Kraken account (usually within 0-1 working days), you will be able to buy Bitcoin for a charge of 0.26 percent of the whole purchase price.

If you trade more money, you may be able to get a reduced commission rate. Kraken is a cryptocurrency exchange that supports more than fifty other digital currencies in addition to Bitcoin.

Benefits of Buying Bitcoin

Before you dive in and start learning the ropes, you should give some thought to whether or not Bitcoin and other cryptocurrencies are a suitable match for your investment portfolio.

The next section will explore some of the reasons why investors in the United States and abroad are looking for exposure to bitcoin.

Should I Buy Bitcoin Now?

There is a lot of agreement among cryptocurrency experts that Bitcoin is the most advantageous digital asset to invest in.

However, if you are still contemplating whether or not to invest in Bitcoin at this time, you should do your own research before making any choices about your financial future.

Despite the fact that you may try to timing the market correctly, the best way to enter the market is using a strategy known as dollar-cost averaging, which we will explore in greater detail below.

Keep in mind, however, that Bitcoin is quite volatile, and as a result, its price is likely to vary in a very unpredictable manner. As a corollary to this point, if you have a high tolerance for risk, you could find Bitcoin robots interesting.

The price movements of cryptocurrencies may be gambled on by using Bitcoin CFDs, and the leading cryptocurrency bots, such as Bitcoin Prime, make this possibility a reality.

If you are interested in knowing more about Bitcoin robots, you should start reading our in-depth review of Bitcoin Prime right away.

You may safeguard yourself against this by using a buy-and-hold strategy and keeping your Bitcoin tokens for the foreseeable future.

This will allow you to keep the price of Bitcoin stable. If you take these precautions, you will be able to weather the storms of severe volatility that often pound the bitcoin markets.

However, after you have acquired bitcoins, where do you store them until you are ready to use them? Check out our analysis of the Ledger Nano X if you are interested in learning more about the most secure bitcoin wallet for offline storage that is currently on the market.

You may also ponder about LBLOCK, which is another another exciting cryptocurrency that has the potential to revolutionise the lottery industry for good. If you need any more clarification, kindly see our comprehensive How to Buy Lucky Block tutorial. Huge Growth Since 2009

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