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- 1. How & where to buy Bitcoin (BTC) online
- 2. How to buy Bitcoin instantly in 3 simple steps
- 3. Where to buy BTC easily
- 4. Best exchanges to buy Bitcoin (BTC), reviewed
- 5. How to trade BTC
- 6. What is the best way to pay for Bitcoin (BTC)?
- 7. How do I store Bitcoin (BTC)?
- 8. Is Bitcoin (BTC) a good investment?
- 9. Is now a good time to buy Bitcoin?
- 10. FAQs
How & where to buy Bitcoin (BTC) online
Get started in minutes with our preferred broker,. 10/10
77% of retail CFD accounts lose money.
Bitcoins are available on a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Bitcoin this way. Follow our quick step guide below.
How to buy Bitcoin instantly in 3 simple steps
To buy Bitcoin you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.
Step 1. Sign up to eToro
eToro is the simplest crypto exchange to get started with. Create an account and supply a copy of your photo ID for verification.
77% of retail CFD accounts lose money.
Step 2. Make a deposit
Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as £10.
Step 3. Buy Bitcoin token
Type BTC into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.
Now you own Bitcoin tokens! It’s as simple as that.
Where to buy BTC easily
The overall best exchange to buy Bitcoin token for beginners is eToro .
Here are the top three places to buy Bitcoin, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.
77% of retail CFD accounts lose money.
Read more about how we rate, rank and review platforms.
Best exchanges to buy Bitcoin (BTC), reviewed
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
77% of retail CFD accounts lose money.
2. Public. Best for sharing beginner trading ideas
Pros & Cons
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: Cryptocurrency trades are charged a 2.5% fee per transaction.
3. Bitstamp. Best for professionals & trading with APIs
Pros & Cons
We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand.
Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.
The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.
4. Uphold. Best for building long term wealth
Pros & Cons
We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD.
Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.
The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.
5. OKX. Best for futures and margin trading
Pros & Cons
We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools.
From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.
The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.
How to trade BTC
You can trade Bitcoin on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how BTC crypto trading works:
- Monitor the price: Let’s say the price of BTC/USDT is $1. You read the price charts and decide that now is a good time to start purchasing BTC.
- Open a trade: You trade one USDT for one BTC ($1 for 1 BTC).
- Continue to monitor the price: The next day, one BTC token is now worth $2, a 100% increase.
- Close your trade: You trade your BTC token back to USDT for $2.
In this example, you buy and sell Bitcoin, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend many hours learning to trade, reading charts, patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.
77% of retail CFD accounts lose money.
What is the best way to pay for Bitcoin (BTC)?
The simplest way to buy Bitcoin cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for BTC.
- Buy Bitcoin with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
- Buy Bitcoin with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).
- Buy Bitcoin with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.
- Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.
How do I store Bitcoin (BTC)?
Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Bitcoin then you should move it to a crypto wallet.
A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Bitcoin wallets to use are MetaMask and the Ledger Nano S.
Is Bitcoin (BTC) a good investment?
Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Bitcoin and its token to help you decide whether to invest in BTC.
- Bitcoin’s goal is to create a viable currency outside of the control of a centralised institution. Bitcoin is built on a blockchain, a decentralised ledger that stores a public record of all transactions. It is not controlled by any one individual or company, so it represents an alternative to the traditional financial system.
- Bitcoin was the first cryptocurrency and is by far the most popular. Bitcoin was developed in response to the 2008 Financial Crisis. The Bitcoin white paper was released in the same year. It has a far longer track record of success than any other crypto, along with a simple aim.
- There is a fixed maximum supply of Bitcoin. There will never be more than 21 million Bitcoin in existence. The Bitcoin code is written so that the incentive for mining new coins is reduced regularly – these events are known as a ‘halving’ – and the final Bitcoin won’t be created until about 2140. But the fixed supply means that it benefits from scarcity that drives up the price.
- You can speculate on Bitcoin, use it as a store of value, or as a means of making payment online. While many cryptos are purely speculative assets, Bitcoin has a practical use as a means of buying things, or as a way of storing your wealth outside of a bank or financial institution. It has been called ‘digital gold’, and it can help to think of it in that way: as a long term store of value.
- Bitcoin has a lot of institutional support. Financial institutions like Goldman Sachs have added Bitcoin to their balance sheets. Many Bitcoin ETFs and funds now exist, which helps to stabilise the price and increase trust. Companies like Tesla and Microstrategy are also famously long Bitcoin and have added billions of dollars’ worth to their own balance sheets.
- Cryptocurrency experiences much larger price swings than traditional investments. While a large stock, like Apple, might only move 2-3% in a day, it’s quite common for Bitcoin to swing 5% or more. You have to be mentally prepared for that sort of daily swing in the value of your investment in order to buy Bitcoin.
- Bitcoin is built on an energy-intensive, Proof of Work blockchain. A Proof of Work blockchain requires ‘miners’ to operate. Bitcoin miners run powerful computers that require a lot of energy to run, which has proved controversial. This form of blockchain is incredibly secure – the Bitcoin blockchain is near enough impossible to hack – but the trade off is large energy consumption.
Use this quick summary of pros and cons to compare Bitcoin with other, similar projects.
- The original and most popular cryptocurrency
- The total supply of Bitcoins is limited to 21 million
- You can use Bitcoin to buy things online or as a store of value
- The Bitcoin blockchain is extremely secure thanks to its Proof of Work mechanism
- Many companies and institutions have bought into Bitcoin in the past couple of years
Ultimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.
How has Bitcoin (BTC) performed this year?
The current Bitcoin price today is $16,788.40, 73.93% below its all time high of $64,400, which it reached on 12 November 2021. BTC is down 64.83% this year, with a 52 week high of $50,848.10 and a 52 week low of $15,760.
Is now a good time to buy Bitcoin?
The answer depends on the current price and your own investment goals. Put simply, buying Bitcoin, selling Bitcoin, and trading BTC are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.
- If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Bitcoin.
- As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of Bitcoin and its decentralised aggregator platform, then a good time to purchase Bitcoin is on any major dip.
In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Bitcoin and selling it the next day probably isn’t why you’re here either.
Regardless, closely following BTC price news & analysis will help you decide when to pull the trigger:
Bitcoin (BTC) ignites new surges as U.S. debt ceiling reach tentative deal
Whales bullish on XRP as Ripple vs. SEC battle nears anxiously-anticipated end
Forget the US, crypto is poised for great success in Asia
The highest rated exchange to buy Bitcoin is eToro. However, you can purchase BTC crypto tokens on any of the platforms listed above in our comparison table. Any platform that lets you buy and sell the leading coins by market cap will offer Bitcoin.
To create an account on any regulated cryptocurrency exchange, you will need:
- A mobile or laptop device
- An internet connection
- Email address and/or phone number
- Photo ID to verify the account
- A method to deposit & withdraw funds, like bank card or PayPal
As soon as you’ve set up an account, you can start buying Bitcoin.
Yes, you can buy Bitcoin on Coinbase.
Yes, you can buy Bitcoin on Binance.
Yes, you can buy Bitcoin on eToro.
We recommend using one of these Bitcoin wallets. However, it’s perfectly acceptable to store Bitcoin on the exchange where you purchased it.
The easiest way to purchase Bitcoin in the US or the UK is to use a crypto exchange, like eToro .
However much you can afford. There’s no limit to the amount of BTC that one person can own, but if you’re going to be holding very large sums, it’s usually advisable to spread your coins across a few platforms and wallets.
The same way its safer to spread savings across multiple accounts.
Usually yes there are small fees when buying and selling Bitcoin – especially on user-friendly exchanges such as Coinbase where you pay for cryptocurrencies in fiat currency. These platforms will usually charge small flat fees for transactions.
When transferring your coins to other wallets (either to other wallets you own or to other people to whom you are selling to), you also have to pay a small amount in mining fees.
This fluctuates depending on how busy the network is at that moment, but they work out to a very small fractional amount of BTC to ensure that the miners maintaining the network are fairly rewarded.
You can also choose to pay slightly more in mining fees in order to have your transfer verified faster on the blockchain.
No, while investing in the two things can be a similar process, Bitcoins and stocks are very different.
As a cryptocurrency, Bitcoin is an asset that relies on decentralised blockchain technology with new coins generated through miners verifying transactions, and its value is determined by how much people are willing to pay for coins at any given time. Stock, on the other hand, is issued by companies in order to raise capital and their price is tied to the value of the business issuing them.
This depends on your definition of ‘safer.’ Usually people invest in gold because it is a good ‘safe haven’ asset: its value tends to be largely unaffected by market turmoil, meaning investors can protect their capital at times of crisis by investing in gold.
Bitcoin on the other hand, while separate from other economic activity, is vulnerable to market fluctuations and the market is a famously volatile space. This means Bitcoin isn’t as well suited to protecting capital, if that is your sole aim.
The best advice is to keep only the amount of Bitcoin that you wish to trade in your exchange account and put the rest in a dedicated Bitcoin wallet.
While exchanges have very high security, they’re not invulnerable. You should hold most of your coins in a personal wallet, and preferably a hardware wallet not connected to the internet.
Yes, if you choose to invest in Bitcoin by using CFD broker platforms then you will never have to worry about owning any Bitcoins. This can be useful for many people who don’t want to handle cryptos directly or learn about what wallet they should get.
Note, however, that crypto CFDs are not available to everyone. They are banned in the UK, for example, so it depends on where you live.
No, BTC is not traded in whole coins, but rather in decimal increments of coins. The smallest amount of Bitcoin you can buy is 0.00000001 BTC (a one-hundred-millionth of a Bitcoin), which is less than a one-hundredth of a penny in GBP.
Many people erroneously assume that investing must cost a fortune because the value of each BTC is in the thousands, but in fact the opposite is true: the network is in fact structured so you can make much smaller transactions than you can with fiat currency.
There have been many attempts to regulate the crypto-market in recent years, but by and large the space is still fairly unregulated as the lack of a central authority (one of the core purposes of the coin) makes it hard to work out how regulations would be enforced.
It is largely not recognised as a currency and seen more as a class of asset by governments around the world. In the USA the Securities and Exchange Commission (SEC) has worked with prominent Bitcoin exchanges to ensure they comply with anti-money laundering legislation by implementing Know Your Customer measures when people sign up for accounts.
One aspect of crypto-trading and investment that is regulated, however, is if trading using a broker. This is because with a broker you are trading CFDs related to the value of BTC and not Bitcoin itself. This means that these platforms are regulated by the relevant financial bodies in each country that regulate all trading activities.
This depends on the country you are in, but in general the answer is yes, your investments in crypto should be declared. Bitcoin is generally treated as an asset and any income you make is liable for taxation – usually in the form of capital gains tax or income tax. If you are in the UK, there is a full breakdown of the tax liabilities for people trading cryptocurrencies on the gov.uk website.
It is also a good idea to be declaring income from cryptocurrencies in general as it’s hard to imagine an efficient method of taxation won’t emerge in the long run.
More ways to buy cryptocurrency
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >