With the ever-growing interest in cryptocurrencies and especially Bitcoin the options we have today to buy Bitcoin are great and many. And maybe it can even be a bit overwhelming to decide where to buy Bitcoins from?
But it is also important to remember that a few years back the options were limited and also not so user-friendly. To put it straight it could be confusing and complex at times.
But nowadays the services, websites, and exchanges have all become so good. Now the opposite is true. We have more options than ever. So how do you decide which is the best place to buy Bitcoin from?
If you are looking primarily to buy Bitcoin as an investment, either for the long-term or the short-term then this article will be the perfect guide to get you started!
Your best options for where to buy Bitcoins from
Today you have several options to use for buying Bitcoin. But they are not all the same type. You have for example more traditional cryptocurrency exchanges.
Other options that you have available is to buy Bitcoins from a platform that facilitates instant-buy alternatives. This makes it super-easy for people to buy Bitcoins in just a few clicks.
- Buy Bitcoins from a cryptocurrency exchange
- Buy Bitcoins from an instant-buy platform
Buy Bitcoin from a cryptocurrency exchange
Three of your best options to buy Bitcoin using a crypto exchange
These are our recommended options for buying Bitcoin at using one of the many popular online cryptocurrency exchanges. There are many more options, but these picks often top the lists amongst crypto investors.
Read on to learn even more about why they are on this top list.
A cryptocurrency exchange traditionally is a website or app where retail investors, i.e. normal people like you and me meet up to buy and sell cryptocurrencies to each other. Here I want to sell some or all of my Bitcoins and you are looking to buy some.
And the cryptocurrency exchange acts as a middleman to facilitate the transaction between us. And for providing this service they take out a small fee, usually from every transaction and sometimes also maker and taker fees. Learn more about maker and taker fees here.
When it comes to cryptocurrency exchange you are blessed with plenty of options. What I usually do when I want to buy Bitcoin or another cryptocurrency from an exchange is that I go to a site like Coinmarketcap.com to check what crypto exchanges trade the cryptocurrency that I want to buy.
Now when it comes to buying Bitcoin I have lots of options available to me. As Bitcoin is the most traded cryptocurrency in the world. But what I can still do at Coinmarketcap or another similar website is compare prices and trading volume at the exchanges. Sometimes there might be ‘slippage’ between different exchanges.
With slippage, it means that the price can differ from exchange to exchange. Because they are filled with people like you and me who might want to sell for a certain price at one exchange. And at another exchange, they might be in more of a rush and can accept a cheaper price (learn more about slippage here).
But usually the price differs just a small bit and it also can quickly change. So a slippage opportunity might just last for a few minutes.
The other thing I mentioned to look out for is trading volume. And with that, I mean how few or many active trades and traders are there on this exchange. With fewer trades and trading volume I will have fewer options to buy and sell my Bitcoins.
That makes sense right? With fewer traders, there will be fewer chances for me to sell my Bitcoins.
The same goes for when I want to buy Bitcoins.
What are your best options to buy Bitcoin from cryptocurrency exchanges?
So with the information above in mind, these are some of our top recommended exchanges based on:
- Trading volume
- But also added security features and the ease of using the platform itself
1 ) Binance
Binance is one of the leading cryptocurrency exchanges in the world. And this has much to do with their high trading volume. The number of available cryptocurrencies. But also for their work on creating a secure platform for their users.
Unfortunately, cryptocurrency exchanges have been strongly affected by hacks in recent years. So what Binance has done is take a strong stance against this. And work hard on creating a secure platform with few chances available for hackers to exploit.
And in the unlikely case of a hack, they have also launched a fund that will reimburse users in the case of a hack. This fund is known as the SAFU fund.
To get started with Binance use this link.
But if you are not a member of Binance head over www.binance.com and click on ‘Register‘ in the top menu. And continue with the registration process to get an account setup.
Learn more about how to get started with Binance here
2 ) Kraken
Another very popular option for where to buy Bitcoins from is the U.S based cryptocurrency exchange, Kraken. This exchange is from the U.S and it has been around since 2011. But it formally opened its doors to cryptocurrency traders in 2013.
So it is one of the oldest Bitcoin exchanges around. And that is for good reasons. They have worked hard on creating an easy-to-use platform for buyers and sellers to use.
The exchange also is one of the most secure cryptocurrency exchanges that you can use today. Their CEO Jesse Powell was inspired by the Mt. Gox events. And he wanted to create an exchange that was secure enough to protect its users from similar events. Learn more about Mt. Gox here.
Click on this link to register at Kraken.
To get started with Kraken if you don’t have an account simply head over to www.kraken.com and click either on the ‘Create an account’ button in the top menu.
Learn more about how to get started with Kraken here
3 ) OKEx
Last on this list of recommended cryptocurrency exchanges is OKEx. This is an exchange that I think deserves to get mentioned.
OKEx has been around in the crypto space since 2017 and they have like Binance quickly established themselves as a serious and trustworthy exchange.
What OK Group has managed to do is create several successful blockchain and cryptocurrency companies. Which shows that they are doing something right. And with OKEx it comes down to their focus on adding new coins, providing good liquidty / trading volume, and this all presented in a nice package. With a website that is easy to use.
To get started with OKEx head over to www.okex.com and click on ‘Sign up‘ in the menu to create a new account.
Learn more about how to get started with OKEx here
Buy Bitcoin from an instant-buy platform
Another popular option for where to buy Bitcoins from is using a site or platform that facilitates instant-buy transactions for their users.
This option has grown to become very popular. And that for obvious reasons. With the speed of innovation in eCommerce and shopping today, people expect the buying experience of Bitcoin to be of similar quality.
Right? Why should it be more complex buying Bitcoin than buying other things, such as a pair of shoes or even a cup of coffee? I mean sure it is an investment, and it might cost you more than a cup of coffee. But that shouldn’t mean that the buying experience should be more complicated?
Here below we will list some of the most popular websites/platforms that people use today to buy Bitcoins instantly. Note that these services usually have slightly higher fees for the quick-buy features.
What are your best options to buy Bitcoin from an instant-buy platform?
The three top-recommended options that we picked for this broker, or instant-buy platforms are:
1 ) Coinbase
The go-to option for a big chunk of retail the current crypto investors but also institutional investors is Coinbase. Coinbase is used by millions. And it is one of the most used platforms for where to buy Bitcoins today.
And the reason why so many people use and trust Coinbase is because of how easy their services are to use.
And that especially comes through when we are thinking about buying and selling cryptocurrencies. I have used their instant-buying feature plenty of times before when I wanted to get in quickly.
Because buying Bitcoin at Coinbase is a lightning-fast and very smooth buying-experience.
To get started with Coinbase head over to www.coinbase.com (click on this link to get $10 worth of BTC for free) and click on the ‘Get started’ button to create a new account. Or ‘Sign in’ to login if you already have an account with Coinbase.
To learn more about how to get started with Coinbase check out this guide.
2 ) Changelly
Another easy-to-use option for buying Bitcoin easily is via Changelly. Here you can either trade another cryptocurrency for Bitcoin via their website. Or you can buy some Bitcoins instantly using their brokerage service.
For both the instant-buy feature and the cryptocurrency swap feature Changelly has a good selection of cryptos available. And of course Bitcoin is the most popular cryptocurrency amongst its users.
To buy Bitcoin from Changelly simply head over to www.changelly.com and click on the button where it says ‘Buy crypto with a bank card‘. Here you can then instantly buy Bitcoin using either your credit card or debit card.
To use Changelly to buy Bitcoin you simply select the cryptocurrency from the list in the drop-down menu – Bitcoin. And then you enter the wallet address where you want to send your Bitcoins to after you have bought them.
3 ) Bitpanda
Another very popular option where people buy Bitcoins is Bitpanda.
Bitpanda is only available for Europeans. So for those of you lucky to be able to use this service can feel comfortable knowing that you can use a service that is easy to use, safe and with a good selection of cryptos, fiat currencies to use (GBP, EUR, CHF or even USD).
Bitpanda also has a wide range of payment methods available too. Such as bank cards (credit card and debit card), Skrill, Neteller, Sofort, bank transfer and many more.
To get started with Bitpanda head over to www.bitpanda.com and click on ‘Get started’ to create a new account with them. And when you have registered with Bitpanda the option to buy Bitcoin and plenty of other cryptos becomes available.
We hope that this guide covered a broad range of options for where to buy Bitcoins from. And depending on what is important for you when buying Bitcoin we would recommend using either a cryptocurrency exchange or one these instant-buy platforms.
We ourselves here at Go CryptoWise use them both interchangeably. It depends on the situation. Is it more important to buy Bitcoins quickly? Or can I wait a few days to save some money on fees?
If you are looking for other ways of buying Bitcoin we also have a guide for buying Bitcoin with PayPal. And we would also recommend our guide for beginners to learn more about investing smartly with Bitcoin.
Find other guides
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier