5 cheapest ways to buy Bitcoin in 2024

The costs for buying Bitcoin can vary greatly depending on the platform you use. This guide explains the cheapest way to buy Bitcoin in 2024.
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Updated: May 9, 2024
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With so many cryptocurrency brokers and exchanges available, it has never been easier or cheaper to buy Bitcoin. We’ve put together this guide to help you find the 5 cheapest ways to buy Bitcoin in 2024. 

Our team of crypto market experts have investigated the various ways you can buy Bitcoin cheaply and ranked the best platforms to use. Each exchange or broker has been scored across multiple data points including transaction fees, deposit fees, spreads, and more, to find the cheapest Bitcoin exchange in 2024. 

What is the best way to buy Bitcoin cheaply?

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We recommend eToro as the best place to buy Bitcoin cheap. The platforms below also offer a way to buy cheap Bitcoins thanks to a combination of low fees. Click any of the buttons below to open an account and buy Bitcoin cheaply. 

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1
Min. Deposit
$ 100
Best offer
User Score
9.9
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

51% of retail CFD accounts lose money. Your capital is at risk.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
$ 10
Best offer
User Score
9.4
Offers an intuitive and easy-to-navigate platform, making it accessible for both novice and experienced traders
Global audience, providing various deposit options and allowing users to cash out directly to their bank accounts
Cold storage for funds and two-factor authentication to ensure the safety of users’ assets
Start Trading
Payment Methods:
Bank Transfer, Debit Card, Credit Card, Cryptocurrencies, Apple Pay, Google Pay, Bank Transfer: SEPA
Full Regulations:
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong

Compare the cheapest places to buy Bitcoin

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PlatformBitcoin feesNo. of supported coins
eToro1%60+
Coinbase1%190+
Binance0.10%600+
SkillingVariable50+
Bitstamp0.50%70+

Top 5 cheapest ways to buy Bitcoin, reviewed

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1. eToro. Best for beginners, copy-trading & demo-account

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1%

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

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.

Highlights

Visit eToro eToro Review

51% of retail CFD accounts lose money. Your capital is at risk.

2. Plus500. Best for international CFD trading*

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From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Bitstamp. Best for professionals & trading with APIs

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...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether

Overview

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.

Highlights

Visit Bitstamp Bitstamp Review

4. Uphold. Best for building long term wealth

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$0.99

Fees

...

Minimum deposit

300

No. assets

Yes

Demo/virtual account

Pros & Cons

Wide range of cryptocurrencies available Zero deposit and withdrawal fees Crypto wallets to store your coins Low minimum deposits and fast account set up
Spreads can be high for some cryptocurrencies Services vary depending on region Customer support is limited

Overview

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.

Highlights

Visit Review

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

5. Public. Best for sharing beginner trading ideas

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public.com logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments
You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

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. 

Highlights

Visit Review
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

What is the cheapest way to buy Bitcoins?

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The cheapest way to buy Bitcoin is to use a discounted crypto exchange account like eToro or Coinbase. These platforms offer lower trading fees and spreads than regular brokers or exchanges. For example, with eToro when purchasing Bitcoin you’ll pay just 1% in commission. It also has a low bid ask spread. 

Platforms like Coinbase Pro offer free Bitcoin withdrawals. This lets you move your Bitcoin off the exchange into your wallet without any withdrawal fees. Most exchanges charge withdrawal fees, so withdrawing Bitcoin for free is a significant perk making Coinbase the cheapest way to buy and sell Bitcoin

Once you’ve purchased Bitcoin cheaply via Coinbase Pro or a similar platform, you can instantly withdraw to your personal wallet address. This provides you with the cheapest way to buy and send Bitcoin because you only pay the small network transaction fee, usually under $1.

How do Bitcoin fees work?

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When you buy and sell Bitcoin, there are a range of fees to consider, which include exchange and brokerage fees, commissions, spreads, and transaction charges. 

Exchanges and brokers usually charge fees when buying, selling, or trading Bitcoin. These fees are usually a percentage of the total transaction amount. Some exchanges offer discounted fees compared to others. 

You also need to consider fees payable to miners for processing and confirming Bitcoin transactions on the blockchain. This fee fluctuates and depends on the amount of data a transaction contains, not the dollar value being sent. When the Bitcoin network is busier, fees increase. Bitcoin network fees are typically very low, often less than $1 per transaction. 

How should I choose where to buy Bitcoin cheaply?

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If you want to find the cheapest way to buy Bitcoin, you’ll need to use an online broker or trading platform that not only has low charges but also doesn’t have any hidden fees. Here’s a look at a few features you should consider when choosing how to buy Bitcoin cheaply. 

Compare trading fees and commissions

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When choosing the best way to buy cheap Bitcoins, one of the most important factors you should consider is the fees and commissions charged. When evaluating brokers, consider trading fees, withdrawal fees, spreads, and any other charges. Selecting one with competitive rates across the board will help minimize costs. 

Each Bitcoin exchange will have its own fee schedule and what you’ll be charged when you buy Bitcoin can vardy from platform to platform. Here’s a look at the types of fees you may encounter when you make Bitcoin purchases:

Fee eToro fees Plus500 fees Bitstamp fees
Trading fees Yes, on certain assets No
Inactivity fees Yes Yes
Rollover/overnight fees Yes, on CFDs Yes
Withdrawal fees Yes No
Spreads Yes, on certain assets Yes
Conversion fees Yes, for non-USD currencies Yes
View more > eToro > Plus500 > Bitstamp >

Look for brokers offering flat-rate trading fees of around 0.1% – 0.5% rather than variable fees based on trade amounts. It’s also a good idea to avoid platforms that charge for withdrawals or inbound and outbound crypto transfers. Below are the average fees you’ll pay when using a crypto exchange platform:

Asset eToro fees Plus500 fees Bitstamp fees
Cryptocurrencies 1% From 2%
Commodities From 2 pips From 0.04%
Currencies From 1 pip From 0.8%
Indices From 0.75 pts From 0.7%
Stocks 0% commission From 0.08%
Stock CFDs 0.15%
ETF CFDs 0.15%
View more > eToro > Plus500 > Bitstamp >

Evaluate account funding and withdrawal methods

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How you fund your account and withdraw from it can also impact costs. Find a broker that allows free deposits and withdrawals through bank transfers, debit cards, or crypto wallets. Brokers that restrict you to credit card deposits tend to charge higher fees. Any platform that charges for withdrawals will add extra fees each time you want to move coins out. 

You can learn how to buy Bitcoin with credit card in our dedicated guide or use the table below to find the cheapest Bitcoin credit card exchange:

ExchangeTransaction feeCredit Card fee
eToro1%0%
CoinbaseVariable3.99%
Binance0.1% – 0.5%4.5%
Kraken0% – 0.26%3.75%
Crypto.com0% – 0.75%2.99%

Spreads should also be considered when looking for the best plays to buy Bitcoin for cheap. These types of costs can quickly add up so it’s important to make sure they’re low. Here are the average spreads for the top cheap Bitcoin exchanges.

Product eToro spreads Plus500 spreads Bitstamp spreads
Stock CFDs 0.15% 0.10%
ETF CFDs 0.15% 0.10%
Forex CFDs From 1 pip 0.8 pips
Crypto CFDs 1% 2%
Index CFDs From 0.75 points 0.20%
Commodity CFDs From 2 pips 0.50%
View all tradable assets > eToro > Plus500 > Bitstamp >

Compare geographic location

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The country where a Bitcoin broker is located can influence its pricing. Brokers based in jurisdictions with lower compliance costs often have more room to reduce trading fees and spreads. 

However, be aware of geo-blocking restrictions by brokers not operating in your region. Using a VPN is one way around location blocks. You should also make sure to understand potential tax obligations when using brokers based internationally.

Assess trading tools and platform features

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In addition to fees, consider the platform features and trading tools offered. More advanced charting, trading algorithms, and order types may benefit active traders. If you’re a beginner, a simple, easy to use interface like the one eToro offers may be the best option.

Some platforms even charge for advanced tools and functionality, which can eat into your costs for buying Bitcoin. Here’s a closer look at the tools and features available on the best cheap Bitcoin exchanges:

Trading tool eToro tools Plus500 tools Bitstamp tools
Charts Yes Yes
News feeds Yes Yes
Analyst recommendations Yes Yes
Fundamental analysis No Yes
Financial calendar Yes Yes
MetaTrader integration No No
View more > eToro > Plus500 > Bitstamp >

What are the risks of buying Bitcoin cheaply?

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The main risk of buying Bitcoin cheaply is losing money if its value drops. This risk is associated with any type of investment and not specifically Bitcoin. There are a few other risks such as falling prey to scams. 

Unfortunately, unscrupulous actors out to scam traders and investors have targeted the crypto industry. That’s why it’s vitally important you take the time to understand how Bitcoin works and choose a safe platform when making your purchase. 

Pros

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  • Pay less fees when using a cheap Bitcoin broker
  • Low fee exchanges usually don’t charge for deposits and withdrawals
  • Transactions are completed almost instantly 
  • Many platforms offer wallets for added security

Cons

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Why is Bitcoin cheaper on some platforms?

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If you pull up two different exchanges and look at the price of Bitcoin on each, you’ll likely see a different price. There are a few key reasons for these pricing differences, which we’ve explained below. 

  • Liquidity pools. Exchanges connect to different liquidity pools where they obtain their prices. A liquidity pool is simply a collection of buyers and sellers. Exchanges with more liquidity sources can access better pricing, which is why you may see different prices across different trading platforms. 
  • Trading fees. Some crypto exchanges like Coinbase Pro charge lower trading fees than normal Coinbase. The discounted fees enable buyers to acquire Bitcoin at a lower net cost. Trading fees vary across platforms, so it’s important to shop around to find the cheapest way to buy BTC. 
  • Over-the-Counter (OTC) desks. Larger traders may access better Bitcoin pricing through OTC desk services offered by some exchanges and brokers. OTC trades occur directly off order books.
  • Geography and regulations. Exchanges located in regions with less stringent regulations often have lower compliance costs. Due to lower costs, savings can be passed on through reduced trading fees. 
  • Competitive pricing incentives. Newer exchanges sometimes price Bitcoin cheaper to incentivize traders away from established platforms. They offer better pricing to gain market share. These platforms are prepared to lower their margins in order to grow their customer base. 
  • Promotional discounts. Similar to pricing incentives, brokers and exchanges may occasionally offer fee reductions, trading reward programs, and other promotions that can temporarily reduce the price of Bitcoin. 
  • Price discovery. Exchanges may derive Bitcoin pricing from different sources, such as order books, major exchanges, OTC desks, and average market spot prices. Where the exchange gets its pricing from will directly impact the price it offers Bitcoin to its users. 

Quick answers to key questions

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Why is Bitcoin cheaper on some exchanges and more expensive on others?

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The price of Bitcoin can vary across different crypto exchanges due to several factors. Firstly, the liquidity and trading volume on an exchange play a significant role. Exchanges with higher liquidity and trading volumes tend to have tighter bid-ask spreads, resulting in more competitive prices. 

Secondly, the payment methods accepted by an exchange can impact prices. For instance, purchasing Bitcoin with a bank transfer or fiat currency deposit may be cheaper than using a credit or debit card, which often carries additional fees. 

Can I buy Bitcoin without fees?

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While it’s impossible to completely avoid fees when buying Bitcoin, there are ways to minimize them. Some reputable exchanges offer fee-free Bitcoin purchases or reduced fees for certain payment methods like bank transfers. 

Peer-to-peer platforms may allow you to trade Bitcoin directly with other users without paying the exchange fees. However, you’ll still need to pay network fees for the transaction to be processed and confirmed on the blockchain.

How much does it cost to sell Bitcoin?

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The cost of selling Bitcoin varies depending on the cryptocurrency exchange or platform you use. Many crypto exchanges charge a percentage-based trading fee, typically ranging from 0.1% to 0.5% of the transaction value. 

Some exchanges may also include withdrawal fees when you want to transfer your fiat currency proceeds to your bank account. If you’re selling Bitcoin that you acquired through mining, you may need to account for the electricity costs associated with the mining process.

Do I need a Bitcoin wallet?

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Yes, having a Bitcoin wallet is essential if you want to purchase, hold, and manage your digital currency. A Bitcoin wallet is a software program or hardware device that stores your private keys, which are necessary to access and spend your Bitcoin. 

Without a wallet, you won’t have a secure place to store your crypto assets. There are different types of wallets available, including software wallets (desktop, mobile, and web), hardware wallets, and paper wallets, each offering varying levels of security and convenience.

Can I buy Bitcoin cheaply via an ATM?

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Bitcoin ATMs can be a convenient way to purchase Bitcoin, but they’re generally not the cheapest option. These ATMs often charge higher fees compared to traditional cryptocurrency exchanges or online crypto platforms. 

The fees associated with Bitcoin ATMs can vary widely, ranging from 5% to 20% or more, depending on the operator and location. Additionally, the Bitcoin prices offered by ATMs may not be as competitive as those on major exchanges due to lower liquidity and higher operational costs.

While Bitcoin ATMs offer a quick and easy way to buy crypto assets, they’re generally better suited for small crypto purchases rather than large investments.

Methodology: How did we choose the cheapest ways to buy Bitcoin?

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 48 cryptocurrency exchanges to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of crypto experts, analysts, and active traders who sign up to each exchange, conduct research, and score each service.

Our tests are designed to find crypto exchange platforms that offer a beginner-friendly, secure trading experience at a fair price. To supplement our practical testing and experience, we research each exchange to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each crypto exchange is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual crypto brands to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process

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FAQs

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Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.