- What’s the Best Place to Buy Bitcoins Online?
Bitcoins are the “hot potatoes” of this decade and it’s the wagon everyone wants go get on. However, there are a lot of basic questions that still remain unanswered. Which are the best places to buy Bitcoins is definitely one of them.
There are a lot of Bitcoin buying/selling/exchange platforms existing on the web. But the problem is that a negligible fraction of them are actually trustworthy. Also, other factors like “fee” ‘security” “anonymity” join in too when you’re looking for the ultimate, best place to buy Bitcoins so even a lower percentile of that fraction is worth buying Bitcoins from.
What are decentralized exchanges?
What are best decentralized exchanges?
What are best trading exchanges (crypto to crypto trading)?
Exchanges – huge list of guides and reviews
We have checked out and reviewed more than 20 exchanges, from the top ones to the almost unknown small and regional bitcoins. This list will be continually updated so make sure to revisit it every once in a while.
Here is the full list.
- Gate.io Review: a detailed guide to Gate exchange
- Cobinhood Exchange Complete Review
- Full Review of Cryptopia Cryptocurrency Exchange
- Etherdelta Exchange Review: How to use EtherDelta
- Switcheo Network (SWH) Review – Guide for Beginners
- All About DDEX – Decentralized Digital Exchange
- Binance Decentralized Exchange (DEX) Review and Guide for Beginners
- Okcoin (OKEx) Exchange Review – One of The Older Chinese Crypto Exchanges
- LakeBTC Exchange Review
- Complete Beginner’s Guide to COSS.io Exchange
- Is it safe to trade via Poloniex? Poloniex Review
- What Is Bithumb Exchange? Learn more about top Korean Exchange
- Binance Jersey Review – Beginner’s Guide to the new Fiat-Crypto Exchange
- RobinHood Cryptocurrency Exchange – Big Finance Firm Meets Crypto
- GateHub Review – Is It Scam or a Legit?
- Altcoin.io Review – Trustworthy Decentralized Crypto Exchange?
- Comprehensive Review for Beginners: IQ Option
- BitMex Review – Margin Trading Heaven
- KuCoin Exchange Review – New Crypto Exchange: Is It Legit or a Scam?
- ShapeShift Exchange Review
- Binance Exchange Review – Is it Safe and How to Use It
- Kraken Bitcoin Exchange Review
- BitQuick Review – Legit Place to Buy Bitcoins?
- Bitstamp Review – Scam or not?
- GDAX Review – Scam or Not?
- itBit Exchange Review
- Bitsquare Exchange Review
- Xapo Review: Is Xapo a Legitimate Place to Purchase Bitcoins?
- Bitfinex Multi-coin Cryptocurrency Trading Exchange
- Indacoin Exchange Review
- VirWox Review: Scam or Legit?
- BitBay Reviewed – Poland’s Bitcoin, Ethereum and Litecoin Trading Exchange?
- xCoins Review – Safely Buy Bitcoins with a Credit Card
- LocalBitcoins.com Review – Is It Scam or Legit?
- Coinmama Bitcoin Exchange Review – Is it 100% Legit?
- BitPanda Review – Buy Bitcoin with a Credit Card, Skrill, or SEPA
- HitBTC Review – Advanced Bitcoin Exchange and Cryptocurrency Trading?
- CEX.IO Exchange Review – Is It Legit?
- Gemini Exchange Review
- Changelly In-Depth Review: Is It A Credible Alternative To ShapeShift?
- Coinbase Reviewed – How Safe is Coinbase to Buy Bitcoins?
- YoBit Exchange Review – Scam or Not?
- Paxful Review – Is It Legit or a Scam Platform?
Direct head to head comparison of best crypto exchanges
Head to head exchange comparison
- Crypto Exchange Duel: Bittrex vs. Binance
- ShapeShift vs. Changelly – Which is the Best Instant Exchange?
- Crypto Exchange Duel: Binance vs. KuCoin
- Best Alternatives to Bitfinex Exchange
- Coinbase vs. Bitstamp Comparison
- Coinbase vs. Coinmama Comparison – Which Bitcoin Exchange Is Better?
- Coinbase vs. Xapo Exchange Comparison
- Exchange Comparison: GDAX vs. Gemini
- Exchange Comparison: Coinbase vs. Bittrex
- Exchange Comparison: Coinbase vs. Changelly
- GDAX vs. Poloniex Comparison: Which Exchange is Right for You?
- Bittrex vs. Poloniex Exchange Comparison: Which Exchange is Better?
- Coinbase vs. Kraken Comparison: Which One to Choose?
- Coinbase vs GDAX Comparison
- Gemini vs. Coinbase Comparison
- Coinbase Pro vs Binance: Which One Is Better?
- Coinbase vs Binance Comparison: Is Binance going to render Coinbase obsolete?
How to instantly convert bitcoins to altcoins
How to buy coins – detailed guides
- 5 Best Websites to Buy Ripple (XRP)
- Top 7 Best Websites to Buy DASH
- How to Buy Litecoin with a Credit Card, PayPal Account or a Bank Transfer?
- How to Buy IOTA Cryptocurrency | A Step by Step Guide
How to Buy Bitcoin Anonymously without ID
How to trade bitcoin anonymously?
How to buy bitcoins with Paypal?
How to Instantly Buy Bitcoin Online With a Credit Card?
- How to Instantly Buy Ethereum Using a Credit or a Debit Card
- 5 Most Popular Websites to Buy Bitcoins Instantly Using Debit/Credit Card
Trading Tools for Crypto Investors
- Review of Coinigy – Trade Anytime, Anywhere
- Coinvenue Review – AI Powered Platform for Crypto Traders
- Cryptohopper Review 2019: Is This The Best Crypto Trading Bot?
- Haasbot Review
- Gunbot Review
- Best Crypto Trading Bots in 2019 – Automated Bitcoin Trading Guide
- Best Cryptocurrency Trading and Analysis Tools
- Haasbot Review 2019: Is this the best cryptocurrency trading bot?
- Best Smartphone Apps for Trading Cryptocurrencies on the Move
- Management of Your Cryptocurrency Portfolio – Best Cryptocurrency Trackers of 2019
General Trading and Investing Guides
- How to Invest in Cryptocurrencies: The Ultimate Guide for a Beginner
- What is Cryptocurrency Arbitrage: Buy Low – Sell High
- What are Crypto Whales?
- What is Pump and Dump and How to Spot It?
- How does investing in stocks vs crypto compare?
- Invest in altcoins or bitcoin? Bitcoin will make you hundreds, but altcoins will make you thousands
- Cryptoeconomics and game theory in cryptocurrency world
- Cryptocurrency: Is it late to invest in Bitcoin and Altcoins?
- How Does Bitcoin Lending Work And What Are Best P2P Crypto Lending Platforms?
- What are Crypto Funds? List of Top Cryptocurrency Funds in 2019
- Three Best Bitcoin and Ethereum IRA Companies – 2019 Edition
- Best VPN Services to Buy with Bitcoin
Best Brokers For Trading Crypto
Depending of your location in the world, there are cheaper options available per country and I want to tell you I look to the safest way to get my Bitcoin, security related, and also with the least Fees possible before we go into buying. Otherwise I would still use the original system in place what the banks use to send money.
Bitcoin has a status of elite underground, based on the anonymity, and the direct delivery. The transaction goes directly from person A to Person B without the need to need of intermediate people, institutions, etc.
You should never use PayPal directly to sell/purchase Bitcoins unless it is a person you know that you can trust. But even then, play safe. I recommend you to always use an intermediate because the risk exists that you will get backcharged, losing your money or your bitcoins.
Limits are raised to $200 in four days and $500 in seven days as you prove to be a reliable customer.
Other places where you can buy Bitcoins are:
However, you should be aware that purchasing bitcoins instantly with a debit or credit card will usually result in higher fees. The reason for that is because there are higher transaction and processing fees and a higher risk of fraud. Read a full guide on how and where to buy bitcoins with credit card.
What are best Coinbase alternatives?
Buying Large Amounts of Bitcoin
I recommend following these simple steps to purchase larger amounts of bitcoins:
- You should find a Bitcoin exchange (Coinbase or Cex.io)
- You should purchase bitcoins by exchanging your local currency, like the Euro or U.S. Dollar, for bitcoin
- You should transfer the bitcoins to your wallet
- And finally, you should get a Bitcoin debit card for easy spending
Learning how to use Bitcoin will require you to get familiar with how things function and it is just like any learning any other technology.
I would like to stress that it is very important that you learn how to transfer bitcoins to a cold storage Bitcoin wallet.
Also, you should know that the Bitcoin price can vary throughout the world. That’s why I highly recommend you to do your research to make sure you are getting a fair deal.
How to Buy Bitcoin
Cex.io, Cryptopay and Coinbase are good places to start when purchasing bitcoins. However, there is no excuse for controlling your own private keys so I highly recommend you do not keep any bitcoins in their service.
I strongly recommend you to compare the exchange rate on your local exchange to a Bitcoin price index once you find a Bitcoin exchange in your country.
There are 4 types of Bitcoin exchange
- CFD (contract for difference) – This method is based on mirroring the movement of an asset. The trader can create profit or losses based on the position he takes on the real asset, however the trader doesn’t own the asset. This is an easy way to trade bitcoin without any fees and allows to leverage the position of the trader.
- Broker – A platform that allows to buy/sell bitcon from the broker for a commission or a fee.
- Trading platform – A platform allows traders manage market positions, buy or sell assets to other traders on the platform.
- OTC (Over the counter) – A peer-to-peer platform that allows to buy/sell bitcoin from an individual. Unlike a Trading platform that allows every trader to be exposed to the trades of other traders, OTC may not be that transparent.
What Makes a Bitcoin Exchange Best?
It’s only logical for me to explain what exactly makes one exchange better than the other before I can ask you to comprehend the best place to purchase Bitcoins.
Just because an exchange is offering no-signup required kind of features, or low buying fee doesn’t mean that it’ll necessarily be the best.
I wouldn’t directly point out which platform is the “best” because I’m not the most knowledgeable person on the planet on Bitcoins. They all have their own pros and cons.
Instead, I’ll walk you through what you should be looking for when you’re trying to land on the best place to purchase Bitcoins. After that you can compare all the available platforms based on your personal preferences.
When finding the best bitcoin exchange for trading bitcoins a number of factors must be considered. They will vary person-to-person depending on the factors below.
The first factor I personally consider before reaching a final verdict about any Bitcoin exchange is the fee it charges for the transactions because each Bitcoin exchange charges different fees for its services.
Most Bitcoin brokers sell bitcoins directly to buyers. They charge a flat rate of 1% per transaction, while exchanges with orderbooks are geared towards high volume trading, and often have fees of 0.25-0.50% per trade.
Also, it’s not advisable to keep Bitcoins permanently on any exchange for long so I also consider the fee I’ll have to pay in order to transfer the bits to my own personal wallet.
I highly recommend you to compare what’s the global price-index for Bitcoins. You can do it easily by simply Goggling “1BTC=$” (Or your currency!) and then compare what price the platform you’re on is offering. There’s considerable price difference between most of them so it’s best to compare 5+ platforms before zeroing in on any single one of them.
Once you find the lowest-priced platform you should wait because your hunt isn’t over yet. As I said, just the “price” isn’t what makes any platform the best place to purchase Bitcoins. That’s why we’ll dig in to the other aspects.
I highly recommend you to check how close is the exchange rate to the global average price found on an index. It is easier to get the best Bitcoin exchange rate if you compare a local Bitcoin exchange’s prices to a Bitcoin price index.
What mode of payment the platforms support is one of the primary factors when it comes to purchasing Bitcoins online. Different payment methods also incur varying fees so you’ll need to find a Bitcoin exchange that accepts your preferred payment method. Do they allow purchasing Bitcoins with Debit Card / Credit Card or/and purchasing Bitcoins with PayPal?
This also affects the fee structure. That’s why there might occur a fee difference based on which payment method you’re going with. Generally PayPal is the cheapest. Credit cards have a slightly higher fee and they are often charged a fee of 3-10%. The same goes for cash transactions. On the other hand most deposits with bank transfers are free.
Each Bitcoin exchange has different buying limits. This often varies depending on level of identity verification and if it’s not adequate and doesn’t suit your buying packets, it’s no use to you.
At Coinbase, for example, regular users may only buy up to $1,000 worth of bitcoins per day and fully verified users can purchase up to $50,000 per day. It is important to note that most exchanges offer a FAQ page online. The different levels of verification are explained there.
Buying bitcoins fast can be challenging, particularly when you want to buy them in larger amounts. When trying to choose the best place to purchase Bitcoins you should also consider how long it takes for the Bitcoins to arrive in your exchange wallet.
The speed might be influenced by your country, mode of payment and certain other factors. That’s why you should make sure to dig deep enough and get a clear picture of exactly how long the coins would take before arriving in your wallet.
In order to prevent money –laundering and fraud transactions most Bitcoin exchanges require some kind of verification these days. Local currency, like the U.S. dollar or Euro, must be exchanged for Bitcoins in order to purchase Bitcoins. In this process trust users must trust the Bitcoin exchange to secure money and not run away with funds and I highly recommend using a regulated Bitcoin exchange.
Most exchanges offer information about their regulatory compliance on their websites (for example Cex.io too requires identity verification via a national Identity card. It might also require a picture of the credit/debit card which you use for your transactions.)
If an exchange doesn’t offer information about who’s behind the site or information about regulation, I would recommend finding a different exchange.
Bitcoins have the ability to be “anonymous” and this is the primary reason why Bitcoins are on the edge of overtaking traditional currency so I do not need to re-elaborate how important role “privacy” plays during Bitcoin transactions.
Exchanges that accept credit cards or bank transfers are required by law to collect information about users’ identities and you can check what kind of data or verification your Bitcoin buying platforms requires off you.
Some platforms simply require a real-life photo of yours while most require some kind of identity verification. The most private way to purchase bitcoins is purchasing them by cash, it be through a P2P exchange like LocalBitcoins or at a Bitcoin ATM.
Getting a Bitcoin Wallet
History is filled with Bitcoin exchanges running away with users’ funds and that’s why I would strongly recommend moving your bitcoins off the exchange once you purchase and store your coins in a wallet you own.
There are different types of Bitcoin wallets. Each of them is offering unique features and benefits and the wallet that’s right for you will depend on your specific needs and on how you intend to use Bitcoin.
Wallets like the Ledger Nano and TREZOR make it easy to protect bitcoins and that’s why they are great for secure storage. Also, for those with greater technical knowledge Paper wallets are another good option.
I would recommend hot wallets if you’ll be making Bitcoin transactions frequently. They work across many devices so they are a better option.
Top 40+ Best Options to Buy Bitcoins Online Around the World
People often ask me if it possible to buy bitcoins with PayPal. With most of the exchanges, it is not possible to buy bitcoins with PayPal directly because PayPal bans its merchants from accepting PayPal payments for bitcoins. Buying bitcoin with PayPal is possible though – read this article to see where and how.
If you want to purchase bitcoins online in the United States I would recommend Coinbase and Kraken. Coinbase is one of the world’s largest Bitcoin exchanges and you purchase bitcoin with a connected bank account at Coinbase. Most recently you can use Robinhood app as well.
Coinbase is the world’s most popular bitcoin wallet and users in the United States, Canada, most of Europe (European users can buy bitcoins with 3D secure credit or debit cards), and Singapore can purchase bitcoins with a connected bank account or SEPA transfer.
Indacoin is a global platform. It enables the fastest bitcoin purchases in more than 200 countries with a credit or debit card and no registration.
You will receive a call from Indacoin with a 4-digit code if it’s the first time you use the card. After that you will enter the code on your order page and you will have to enter a 3-digit code. This code can be found on your online card statement next to the charge amount.
For the first transaction you will have the limit of $50, for the second transaction you will have $100 available after four days of the initial purchase, $500 after eight days of the first purchase and the total limit for the first month will be $5,000. After that you will have no limits at all.
After your card is verified, cryptocurrency will be sent automatically within ten minutes after the payment.
CoinMama is also a global platform and it is a bitcoin broker that enables buying bitcoins with credit or debit cards. Fees are around 10% with limits of about $5,000 per day and $20,000 per month and bitcoins are received within a couple of minutes after verification.
Kraken is one of the world’s largest Bitcoin exchanges and residents of Europe and the UK can deposit and buy bitcoins with same day SEPA transfer.
BitQuick is an escrow service. It facilitates the purchasing and selling of bitcoins via cash deposit.
LocalBitcoins is one of the most trusted platforms to buy Bitcoins from. It is an escrow service that helps match Bitcoin buyers and sellers and it offers the most diverse payment methods. It includes almost every payment method known to man, including Cash, NEFT, PayPal, Paytm, Western Union and what not. And the best thing is that it requires zero verification!
Wall of Coins is an escrow service that facilitates the purchasing and selling of bitcoins and the most popular payment method is cash deposit.
BitPanda is an Austrian bitcoin broker. It enables buying bitcoins with credit or debit cards and fees are very low, around 3-4%, but not displayed separately.
Remitano is an escrow service that allows you to purchase Bitcoin safely. You can purchase Bitcoin using Bank transfer and cash deposit.
Buy Bitcoins in Canada
You can purchase bitcoins on CoinGate using credit or debit card, mobile balance, bank transfer or SMS and you can sell them on CoinGate and receive payouts to your bank, PayPal or MoneyPolo account.
SpectroCoin is an all-in-one solution for Bitcoin. It offers an exchange, debit card and ability to buy bitcoins with credit cards.
Buy Bitcoins in the United Kingdom
At Bittylicious UK residents can purchase bitcoins online with UK instant bank transfer in a little under an hour.
Buy Bitcoins in South America
Buy Bitcoins in Asia
Buy Bitcoins in Mexico
Buy Bitcoins in Australia
Buy Bitcoins in Germany
Buy Bitcoins in Brazil
Buy Bitcoins in France
You can purchase bitcoins in the UK and Europe with a 3D secure credit or debit card and if 3D secure prepaid credit and debit cards are also accepted.
Cashila is a payment processor. It enables users to transfer, hold and receive funds using bitcoin or Euros.
SpectroCoin is an all-in-one solution for Bitcoin. It offers an exchange, debit card and ability to purchase bitcoins with credit cards.
Buy Bitcoins in Africa
Frequently Asked Questions (FAQ)
Why buy bitcoins instantly with credit cards or debit cards?
Buying bitcoins fast with a credit card or debit card can be the fastest way for new users to get bitcoins and this can be as simple as online shopping which many of you are probably familiar with.
What are my risks when purchasing bitcoins with credit card?
You should know that there are disreputable companies selling bitcoins in order to collect credit card and personal information. They can use this information to potentially engage in scams or identity theft. That’s why I always work with companies that have a solid reputation and regulatory compliance.
It is also important to be sure you are familiar with your credit card company and how they handle buys of bitcoins because it is possible the charges are classified as cash advances. In these cases different fees or policies may apply.
Are there any disadvantages?
Size is the only disadvantage. It can be difficult and costly to use credit cards when purchasing bitcoins fast and in large amounts because of the higher risk of fraud for merchants and the increased processing and transaction fees.
Is it risky to provide identification documents to buy bitcoins?
Of course that purchasing bitcoins from regulatory compliant bitcoin exchanges can be risky. The service provider could be hacked and have it stolen, like all information provided online so you have to trust they will handle your documents with privacy and security.
Why was it difficult purchasing bitcoins with a credit card only once?
Bitcoin transactions are irreversible and merchants usually have to wait up to two months to receive cash after a credit card payment. Also, credit card payments are reversible, so selling bitcoins for credit card payments is very risky because of fraud.
Luckily, there are some companies that have discovered new and successful fraud prevention techniques.
It may be helpful to set up an account bitcoin provider, like Purse. This provider supports using a payment gift cards to buy bitcoins. When other options are not available these payment cards are a great resource for exchanging bitcoins.
Is it possible to buy bitcoins on multiple exchanges if the limits are too low?
Of course, because some limits are very low like $50 per day. That’s why I always buy from multiple places to accumulate a larger amount.
After I buy bitcoins, should I store them on the exchange?
No, because the safest thing would be to store your own bitcoins in your own bitcoin wallet.
Many people have lost hundreds of millions of dollars because of Bitcoin exchanges being hacked so after purchasing bitcoins you should instantly move them to a safe and secure wallet you control.
Note: It can be risky to buy bitcoins immediately because the companies provided are only listed as a convenience and not an endorsement. I recommend you to use them at your own risk and if you have any problems please report in the comments.
So which Bitcoin exchange is the best?
There isn’t any one “Best” exchange as such, to be honest, because it all depends on how much currency you wish to trade, where you are, how flexible you’re on the privacy and verification procedure and so on.
I’d just say all the platforms on this list are worth it. You can simply choose one or the other and make couple trades with them and you’ll figure out for yourselves the platform which is in most sync with your requirements after some time and then you can stick to it.
So, here is a recap of the best places to buy Bitcoins from for you:
- Kraken: Use SEPA transfer in Europe to buy bitcoins
- SpectroCoin: Use credit card or SEPA transfer in Europe to buy bitcoins
- LocalBitcoins: Use cash to buy bitcoin anywhere with available sellers
- Coinbase: buy bitcoins in the United States, Europe, Canada, or Singapore.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com