Don’t know how to buy Bitcoin but want to invest in this highly popular digital asset? Worry not — in this guide, we’ll show you how to buy Bitcoin anonymously and review some of the best platforms to buy Bitcoin. We’ll also discuss the alternative ways of purchasing this popular digital coin.
On that note, you’ll learn how to get Bitcoin using PayPal, Cash App, and credit/debit cards. And finally, you’ll find out if now is a good time to invest in this cryptocurrency.
This tutorial will use MEXC, our number one crypto trading platform that supports BTC purchases.How to Purchase Bitcoin — Quick Summary
Best Sites to Buy Bitcoin
Now that you know how to buy Bitcoin online, take a look at our list of the highest-rated platforms for BTC enthusiasts. We’ll review each of them to help you choose the one that best suits your trading strategies.
MEXC — Best Platform to Buy Bitcoin for Beginners
If you’re looking for the best place to buy crypto, MEXC should be on your go-to list. This CEX supports over 2,000 cryptocurrencies and more than 2,350 trading pairs. It also has a user-friendly interface, which makes it an ideal platform for beginners.
However, advanced traders will also be able to benefit from this platform. Namely, MEXC offers BTC futures that come with up to 200x leverage and low maker-and-taker fees.
BTC deposits are free, while the withdrawal fees vary from 0.00001 BTC to 0.00016 BTC, depending on the used network.
OKX — Best for Professional Bitcoin Traders
OKX is a CEX that enables its users to buy Bitcoin via express and P2P express options. The first option will allow you to buy BTC using 100+ payment options. The second option will match you with the best BTC offers. On top of that, OKX supports 320+ cryptocurrencies and 500+ trading pairs.
OKX stands out with its Simple Earn feature, which enables BTC holders to earn a yield of up to 5% via multiple sources. This platform also uses the Lightning Network. This means that BTC transactions will be fast and come with low fees.
Binance — Best for US Residents Who Want to Buy Bitcoin
Where to buy Bitcoin if you live in the US? We suggest Binance, one of the most notable CEXs available in the US. This platform supports 150+ cryptocurrencies and 5,660+ trading pairs. It also imposes the cheapest Bitcoin transaction fee. On that note, Binance offers free Bitcoin trading on select pairs.
On top of that, all BTC deposits are free. The BTC/USDT minimum trade amount is 0.00001 BTC, while the maximum limit order amount is 9000 BTC. Binance also has one of the best crypto trading bots that come with customizable settings.
Bybit — Best for Buying BTC With Fiat
Bybit is a CEX that enables its users to buy Bitcoin using 100+ crypto and 65+ fiat currency deposits. Moreover, its users can purchase BTC via One-Click Buy and P2P options. Bybit also rewards its new members with up to $30,000 in deposit rewards.
When it comes to trading fees, Bybit offers zero fees for all EUR Spot trading pairs, including BTC/EUR. Likewise, traders who stake their BTCs can earn an APY of 2.5%. Plus, Bybit users will pay lower fees for on-chain BTC withdrawals — 0.0002 BTC per transaction.
Margex — Best Payment Options
Next in our how to buy Bitcoin guide, we have Margex. This crypto trading platform allows its users to buy BTC using 152+ payment methods, from SEPA to Apple Pay and PayPal. This platform also uses a user-friendly interface and multicollateral wallets. This means that traders will be able to deposit multiple collateral currencies. All crypto deposits are free, while the minimum withdrawal amount for BTC is 0.002.
Margex offers two mobile apps. One is tailored for traders, while the other is designed for followers. All Margex users can stake BTC for annual returns of 3%.
PrimeXBT — Best for Crypto Tutures
PrimeXBT is a trading platform that has over 1 million users. It’s known for its low crypto futures trading fees: 0.01% (maker) and 0.02% (taker). Plus, it offers up to x200 leverage.
PrimeXBT is suitable for both beginners and professional traders. It has a user-friendly customizable dashboard that will enable its users to organize their activity as they see fit. Trades will be able to buy BTC in US dollars using Visa/MasterCard or bank transfers. There are no minimum or maximum cash-out limits, while withdrawal fees for Bitcoin stand at 0.0005 BTC.
Kucoin — The Most Secure Crypto Exchange
Kucoin is a crypto exchange that supports 700+ digital assets. This platform allows users to buy BTC in four ways — via fast trade, P2P, fiat deposits, and third parties. How to buy Bitcoin without fees? Choose the P2P option, as it comes with zero fees.
Moreover, traders can withdraw BTC from the Bitcoin network for a fee of 0.001 BTC. Kucoin utilizes some of the most robust security measures, such as advanced encryption and an extensive risk control system. This makes it one of the most secure crypto exchanges.
BingX — Highest APY
BingX is a crypto exchange that supports 750+ cryptocurrencies. It allows its members to buy BTC via fiat deposits and quick buy options. The minimum deposit is 0.0002 BTC, while the minimum withdrawal limits are 0.0000066 BTC on the BNB Smart Chain and 0.000352 BTC on the Bitcoin network.
BingX offers some of the highest BTC staking rewards with an APY ranging between 1.50% and 10.00%. This platform also provides a principal-guaranteed wealth product called Shark Fin, which enables earning interest regardless of BTC’s market sentiment.
Alternative Ways of Buying Bitcoin
How do you buy Bitcoin using alternative options? You can use PayPal, Cash App, and credit/debit cards easily. Here’s how.
How to Buy Bitcoin With PayPal
- Create an account on PayPal
- Enter the Finances section and tap on the Buy button
- Select BTC and enter the amount you wish to buy and frequency (daily, weekly, biweekly, or monthly)
- Choose a payment method and tap Next
- Tap the Buy Now button to conclude the trade
How to Buy Bitcoin With Cash App
- Download the Cash App
- Create a Cash app account
- Fund your account
- Tap the Bitcoin tab on the Cash App home screen
- Tap the Buy BTC button
- Enter the amount you wish to buy
- Enter your PIN and tap the Confirm button
How to Buy Bitcoin With a Credit Card/Debit Card
- Get a credit/debit card that supports BTC, like Mastercard, Visa, and American Express
- Fund your card
- Find an exchange that supports credit/debit cards and create an account
- Link your credit/debit card with your account
- Enter your personal information and card details
- Select BTC and make a minimum deposit (if required)
- Accept the Terms of Service and tap the Buy Now button
At the time of writing, BTC trades at $62,740. However, many crypto analysts believe that by the end of 2024, Bitcoin will reach its ATH of $90,000.How Much Is a Bitcoin Worth?
Should I Buy Bitcoin Now?
On January 1, 2024, the price of BTC stood at $42,280, although its value fluctuated between $20,000 and $30,000 throughout 2023. In mid-February, its price jumped to $51K, while on the first of March, BTC managed to hit the $61K mark.
Just before the BTC halving event, i.e., on March 29, Bitcoin reached its ATH of $70,000. After the halving event, which took place on April 19, BTC’s price fluctuated between $60,000 and $63,000.
The Bitcoin price currently stands at $62,740, making it an expensive investment. However, historically looking, BTC’s value has been known to grow by approximately 16% 60 days after each halving event. This means that its price could increase by about $1000 by July.
In addition, BTC has a total supply of 21 million, which means that every year, there will be fewer and fewer BTCs in circulation. This will increase its demand. In terms of how many bitcoins are left, there are about 19,704,237.5 BTCs currently in circulation.
All of the factors mentioned above make BTC a good investment for crypto hodlers and long-term investors.
On the other hand, beginner investors should place their money on new cryptocurrencies that could explode in 2024 if BTC reaches its ATH. The most popular altcoins right now are Solana-based meme coins and AI-powered tokens.
How to Sell Bitcoin?
Now that you know how to invest in Bitcoin, here’s how to sell it:
- Create an account on one of the above-mentioned crypto exchanges
- Verify your account by fulfilling the KYC requirement
- Tap the Buy Crypto button and select the Sell tab
- Select the cryptocurrency you wish to sell, i.e., BTC, and choose the fiat currency you wish to receive
- Enter the amount you want to sell and choose your payment option
- Tap the Sell BTC button to confirm your trade
Conclusion
Now that you know how to buy Bitcoin using different payment methods and which platforms offer the best conditions for buying BTC, remember that the crypto market is very volatile. Although many crypto analysts believe BTC will reach an ATH of $90,000 by the end of 2024, you should only invest what you can afford to lose.
FAQs
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