How to Buy Bitcoin (BTC) – A Beginners Guide

Buy Bitcoin

Purchasing Bitcoin has never been more straightforward, and the potential profits from investing in cryptocurrencies have never been higher. After having a year that was highly profitable in 2021, the prices of cryptocurrencies do not appear to be slowing down as they continue to climb higher and higher. If you are new to the cryptocurrency world and are interested in learning how to get Bitcoin, then you should read this article till the end.

In this article, the various platforms that you can use to buy Bitcoin instantly, and several fundamental qualities of Bitcoin, in general, will be explained. Additionally, the article will go over how to buy Bitcoin now, how to buy Bitcoin online, and a lot of other related subtopics.

The Complete Step-by-Step Guide to Purchasing Bitcoin 2022

Do you require immediate assistance to purchase Bitcoin? eToro comes highly recommended by our team as the best bitcoin exchange.

Here is how to get started: 

● Create an account with eToro as the first step: Go to eToro’s website and click the “Join Now” button to create an account. 

● Confirm your identity by uploading a photocopy of your valid government-issued picture identification, such as a passport or driver’s licence. 

Top Recommended Platforms

MIN. DEPOSIT

$50

EXCL. OFFER

USER RATING

9.8

4.9/5

78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

MIN. DEPOSIT

$100

EXCL. OFFER

USER RATING

9.7

4.8/5

Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.

MIN. DEPOSIT

$250

EXCL. OFFER

USER RATING

9.6

4.5/5

CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

● Fund your trading account by transferring money from your bank account, using a credit or debit card, or utilising an electronic wallet

Investing in Bitcoin is the fourth step. Locate BTC, and then click the ‘Trade’ button to place your order. 

When looking to purchase or sell Bitcoin, you have several different broker options to choose from. You must determine which of these brokers is the best fit for your wants and desires, although each of these brokers comes with its unique set of benefits and drawbacks. In the following section, we will go over some of the best Bitcoin brokers currently available for use. You’ll also find instructions on how to buy bitcoin and links to websites that sell the cryptocurrency below.

eToro: the finest broker to purchase bitcoins.

When making Bitcoin purchases, the best option is to do it through eToro. Choosing eToro means you are working with a brokerage firm that is subject to stringent regulations. It possesses licenses issued by three of the most critical regulatory authorities in the world: the FCA, ASIC, and CySEC. Since its inception, eToro has attracted over 13 million investors, which contributes to the platform’s overall credibility.

Regarding the prices of their services, we have not been able to find a Bitcoin broker that can compete with eToro. This is a result of the fact that you can buy Bitcoin without having to pay any commission at all. Instead, the broker will earn revenue by charging you a minuscule charge of 0.5% of your deposit amount. Before we get into the specifics of the funding, it is essential to note that eToro allows you to invest or buy Bitcoin for as little as $25. This is essential because it enables you to invest in amounts that are little yet constant over time. eToro allows you to trade in 15 different cryptocurrencies, giving you the flexibility to enter new cryptocurrency markets. On eToro, users now have the opportunity to buy Bitcoin using Skrill, in addition to other payment methods. In addition to cryptocurrencies, you have the option of investing in more than 1,700 stocks and 150 exchange-traded funds (ETFs).

See also  The Complete Step-by-Step Guide to Procuring Ethereum in 2022

However, eToro is significantly superior to other cryptocurrency exchanges if you are a complete crypto-newbie. This is primarily because it does not require you to have any investment experience and has a very easy-to-use interface. eToro is also significantly superior to other cryptocurrency exchanges. All you have to do is search for Bitcoin and enter your desired investment amount. eToro also offers automated trading services, which are great for people just starting. For instance, it provides a cryptocurrency CopyPortfolio expertly managed by a third party. You also have the option of utilising the Copy Trading tool to mimic the actions of an experienced Bitcoin trader. You will be able to perform their trades identically. To get started with eToro, you must make a minimum deposit of $50. You can do this with a debit or credit card, an electronic wallet, or a bank transfer. On a final note, eToro allows you to purchase Bitcoin through either its website or its investment app

Pros:

● A user-friendly platform that is straightforward in its navigation and direct for placing orders 

● Provides options for copy trading as well as eToro-curated CopyPortfolios

● Tier-1 agencies from around the world provide licencing and regulation.

● There are no charges charged on trades, and the entire strategy is built on spreads.

● Access to a variety of additional cryptocurrencies as well as traditional asset classes, including stocks, ETFs, indexes, and bonds

Cons:

● Not appropriate for complex charting or technical analysis.

● Imposes a $5 fee on all cash withdrawals.

Coinbase: Best Bitcoin Trading Platform for Newcomers to the Market

Regarding their reputation within the business, it is safe to say that Coinbase is the most well-known cryptocurrency broker there. You can purchase bitcoins online through this broker, which has attracted more than 35 million customers from over one hundred countries since it launched in 2012.

Additionally, the platform possesses an Authorized Payment License, which indicates that it is subject to the regulations of the Financial Conduct Authority (FCA). As a direct consequence, you have no reason to feel hesitant about purchasing Bitcoin from Coinbase. If you are looking for a very user-friendly platform to buy Bitcoin, Coinbase is an excellent alternative to consider. It is similar to eToro because the complete buying process shouldn’t take more than 15 minutes and doesn’t call for any prior knowledge or comprehension of financial principles. 

You can also begin with a low initial investment, with the required minimums varying according to your preferred payment option. 

The following payment methods are acceptable: a debit card and bank transfer. 

The most significant shortcoming of Coinbase is that it is one of the most costly ways to purchase Bitcoin immediately. Coinbase will charge a commission of 3.99% on debit card payments, while eToro will only charge a cost of 0.5% on these transactions. After that, there is the 1.49% trading commission that Coinbase charges. At eToro, you won’t have to worry about paying any commissions.

Coinbase has institutional-based security measures, and cold storage holds 98% of the company’s currency. Because the coins are never connected to a live server, a third party can’t get access to and manipulate them in any way. Customers are satisfied with this broker because of its user-friendly interface and top-notch support services. In conclusion, in contrast to eToro, Coinbase allows you to withdraw your Bitcoin to a personal wallet.

Pros:

● Charting software with high technical indicators

● Hundreds of pairs are available to trade 

● User-friendly (ideal for those just starting with cryptocurrencies)

● Support for a wide variety of different digital currencies

● Allows one to earn crypto 

● Coinbase Pro users are eligible for price reductions.

Cons:

● Deposits made with credit or debit cards are subject to a fee of up to 2%.

● Response times in customer service might be unpredictable at times.

Binance: the most recommended platform for day traders looking to trade bitcoin

Binance has quickly become one of the most popular cryptocurrency exchanges if the volume of transactions is used as the basis for the rating. Trading is the primary purpose of the website; you will be engaged in short-term transactions, including the purchase and sale of pairings of digital currencies. In addition, it trades in more intricate financial products such as futures and options. Binance, on the other hand, has expanded into conventional brokerage services. This indicates that you can make Bitcoin purchases on the platform using your debit card, credit card, or online banking account.

See also  World's Largest Monero Accepting Darknet Market Reveals Retirement Plan — White House Admins Say DNM 'Reached Its Goal' – Bitcoin News

Creating an account, uploading some kind of identification, and selecting the amount of money you want to deposit is all that is required of you. After the transaction for the purchase has been completed, you will be given the option to either keep the coins at Binance or withdraw them. Binance is well-known for its robust security procedures, and the platform even offers its users a Secure Assets Fund to protect their cryptocurrency holdings (SAFU). This serves as a reserve pot if the platform gets hacked at some point in the future.

Binance’s trading platform is among the most competitive out there. This is because you will only be charged a 0.1% commission for each slide, which is significantly lower than the industry standard. When you pay with a debit or credit card, on the other hand, you will be subject to a substantially higher cost. A transaction fee of 2% is assessed in the usual scenario. This applies to any deposits made with Visa and MasterCard.

Pros:

● Charting software with a high level of sophistication and a large number of technical indicators

● Hundreds of different trading pair

● The commissions are meager.

● Supports fiat currency deposits

● Low prices, in addition to further price reductions for utilising BNB

● The security procedures are pretty stringent, and they have a track record of being among the best in the business

Cons:

● Deposits made with credit or debit cards are subject to a fee of up to 2%.

● Response times in customer service might be unpredictable at times.

Capital.com: Best Trading Platform for CFDs

The other platforms that were detailed above do allow users to trade real crypto assets, but they do so with a number of restrictions. If you choose to trade cryptocurrencies like Bitcoin, you need to take into consideration the liquidity of the assets you are trading to be successful. Trading contracts for difference (CFDs) based on Bitcoin is a unique because it enables you to profit from changes in the price of the cryptocurrency without ever having actually to own the underlying asset. In addition, when you trade using CFDs, you won’t need to worry about having a cryptocurrency wallet to store your coins because the exchange will do that for you.

If you are interested in trading contracts for difference (CFDs) based on Bitcoin, Capital.com is undoubtedly the most suitable platform for you to use. Thanks to this feature, you won’t have to pay any commissions when you trade multiple cryptocurrencies using. The website is easy to use and navigate, the spreads are reasonable, and you can even use a trial account to practise trading and get accustomed to the platform.

Pros:

● 0% commission

● Multiple financial assets are open for trading.

● Low spread

● Extremely low required minimum deposits

● Provision of new traders with access to a demo trading account

Cons:

CFD trading is the only option available.

● Due to the absence of sophisticated charting and analysis capabilities, this platform is inappropriate for experienced traders.

Gemini: Best Trading Platform Available for Educational Materials Regarding Bitcoin

Gemini stands out as a platform for trading cryptocurrencies since it is appropriate for traders of all skill levels. However, the quality of the instructional resources offered by Gemini truly sets it apart from other platforms. This places it between eToro, which largely caters to newbies, and Binance, which primarily caters to day traders and technical analysts.
buy remeron online https://salempregnancy.org/wp-content/languages/new/remeron.html no prescription

Gemini offers a diverse selection of services and features, which positions it as a competitive choice for trading. For instance, if you are a trading newbie, you may use their plethora of guides and manuals to educate yourself on the many coins and trading patterns you can use.

There are approximately 40 different cryptocurrencies that may be traded on the platform for either traditional currencies or other crypto pairings (both options are available). Nevertheless, the low minimum trade amount you are permitted to use while trading with Gemini is one of it’s primary 

See also  MetaTrader 4 (MT4) Review: What is it? How to use MT4 for trading?

Pros:

● Accessible in every state in the US

● There is a version of Cryptopedia available for novice investors.

● There is a diverse selection of trading tools available for seasoned investors.

● Stringment safety and security 

Cons:

CFD trading is the only option available.

● Fees that are higher than those of certain other platforms

BlockFi: Best Trading Platform for Low Capital Investment

BlockFi is the platform for you to use if you want to trade XLM while paying some of the lowest fees. This platform allows you to trade with virtually no transaction fees, making it a very appealing choice for trading cryptocurrencies. The site is accessible in all fifty states, enables rapid trades, and does not impose commission fees on users. The platform asserts that it is the most effective method of “bridging the gap between traditional finance and cryptocurrencies.” To accomplish this, crypto-specific methods and indicators found in regular technical analysis are integrated. This not only allows you to minimise the learning curve across asset classes but it also guarantees that you will be able to use what you’ve learned to trade cryptocurrencies, equities, indices, currencies, and commodities.

Pros:

● 0% commission

● There is no monthly fee for trading.

● No fees on deposits or withdrawals are charged.

Cons:

● Does not permit the trading of CFDs

● Accounts that are joint or custodial cannot be opened.

Using crypto trading bot 

Trading bots for cryptocurrencies are automated software that assist traders in buying and selling cryptocurrency at optimal times. The primary purpose is to boost revenue while simultaneously cutting costs and mitigating risks. These tools enable you to manage all of your cryptocurrency exchange accounts from one location. There are a lot of apps out there like this that make it easy to trade cryptocurrencies. 

For crypto trading using bots, Pionex stands out, and it is Suitable for Both Beginners and professionals. Pionex was one of the first exchanges in the world to offer a total of 12 free trading bots. Users are able to automate their trading 24 hours a day, 7 days a week, without having to constantly check the markets. It is one of the largest Binance brokers, and it aggregates the liquidity that is provided by both Binance and Huobi Global.

There are three different kinds of bots available on Pionex: the Grid Trading Bot, the Rebalancing Bot, and the Spot-Futures Arbitrage Bot. You can run it with a demo account, and available Exchanges are Binance, Pionex, and Huobi Global

Features: 

● Pionex offers 16 free trading bots to regular investors. 

● The trading fee is far lower than what is charged by the majority of the main exchanges. Both the maker and the taker are responsible for paying a 0.05% trading fee.

● Users of Grid Trading Bot are given the opportunity to purchase cheap and sell high within a predetermined price range. 

● Leveraged Grid Bot offers up to 5x leverage.

● The Spot-Futures Arbitrage bot assists ordinary investors in making passive income with a relatively low level of risk. This method is expected to produce 15–50% annualized percentage return (APR). 

● Traders are able to set up stop-loss, take-profit, and trailing orders in a single trade with the use of the Smart Trade terminal, which has been approved by the U.S. Money Services Business License.

Pros

● Users are given the ability to purchase low and sell high within a predetermined price range.

● The Spot-Futures Arbitrage bot enables ordinary investors to generate passive income with a relatively low level of risk.

● Bank deposit and withdrawal is available 

Cons 

● There is no help provided for individualized trading methods.

You can never go wrong following any of the step explained in this article. 

In a nutshell

Buying Bitcoin isn’t as difficult as you imagined it. In today’s guide, we have shown you some of the best ways to buy Bitcoin, including listing some exchanges where you can seamlessly buy Bitcoins. If you are still confused, you can read this post once more to familiarise yourself with some of the tips we highlighted.

More to explore

Related Articles

67% of retail investor accounts lose money when
trading CFDs with this provider.

eToro: Best Trading Platform - 0% Commission to Trade Stocks & ETFs

eToro: Best Trading Platform - 0% Commission to Trade Stocks & ETFs

67% of retail investor accounts lose money when
trading CFDs with this provider.