Easiest way to buy bitcoin

The 5 Best Ways to Buy Bitcoin in 2021

In this article, I will share my top 5 best ways to buy Bitcoin in 2021, their pros and cons, how you can choose amongst them, and many more.

60% of Americans have heard of bitcoin at least once. Only 5% hold digital currency.

If only 5% hold it — does that mean a lot of people are lost and don’t know the best places to buy Bitcoin?

After all, the statistics don’t lie. They were conducted by the Global Blockchain Council and SurveyMonkey. They found that most people think buying Bitcoin is difficult.

And maybe you think so too.

But the truth is: It’s EASY.

The important question is: where to buy Bitcoin, and how?

By reading this article, you will discover the best way to buy bitcoin and to have clear guidance on the different ways to buy Bitcoin, based on your preference.

So read on, take action, learn how to buy bitcoin, and be part of this financial revolution.

Our Favorite Exchanges to Buy Bitcoin

Each of us at CryptoManiaks has been in the crypto sphere for a good long while. We experienced countless issues with liquidity, security, and customer service.

As we’ve made mistakes, we’ve also learned. Here is the sum of our knowledge: a list of exchanges we use and trust, and which I consider as the best places to buy Bitcoin.

Suits Best For	Deposit Methods	Competitive Advantage
		Bank Transfer, Credit Card, Paypal, Skrill, and more	Crypto social network, Low fees when buying Bitcoin	Invest on eToro
		Bank Transfer, Credit Card, Amex	Deposit $5, Get $25 Free * using a US bank account	Get The Abra App
		Bank Transfer, Credit Card, Wire Transfer	Make a transaction >$100, Get $10 Free	Go To Coinbase
		Wire Transfer, Interac e-transfer	Make a transaction >$100, Get $20 Free	Visit BitBuy

1. eToro

You may recognize the name eToro. You may even be able to picture their logo (their name in green with little horns like a bull). That’s because eToro is one of the most famous sites when it comes to trading stocks and other financial instruments.

Now they offer cryptocurrency trading and investing too. With all their offers combined, eToro counts more than 10 million users on their platform. Simply put, when looking for where to buy bitcoin — eToro is one of the best.

• Well established company.
• eToro is regulated by the Financial Conduct Authority (FCA).
• Lots of deposit methods, including credit card, bank transfer, Paypal, Skrill, and more.
• Fees are low. All deposits are free. You only pay a 0.75% spread when buying Bitcoin on eToro. The downside is that withdrawals cost $25.
• Many cryptocurrencies are available for purchasing and trading.
• Social trading integrated, allowing you to copy experienced traders’ strategies.
• Leverage trading available.
• And more.

• You can buy and trade cryptocurrency through eToro, but you cannot withdraw crypto — only fiat. Thus, eToro is best if you plan on investing only, and not on transferring crypto to your friends.
• Due to local regulations, you cannot register an account on eToro if you reside in Canada, Israel, Japan, and Turkey.

2. Abra

Founded in 2014 in the US, Abra aims to make cryptocurrency investing simple. They offer a convenient mobile app to buy Bitcoin, as well as many other cryptocurrencies and even stocks.

They introduced a unique crypto index called “BIT10”, allowing their users to invest in 10 of the best cryptocurrencies all at once.

• Unlike other cryptocurrency exchanges, Abra never takes custody of anyone’s funds other than their own. As a result, everyone using Abra always holds their own funds.
• Fees are lower than average if you use your bank account to deposit money.
• Their App is particularly user-friendly, and the registration process is fairly easy.
• Abra introduced a unique crypto index called “BIT10”, which allow its users to invest in 10 of the best cryptocurrencies all at once.
• They offer a great first deposit bonus.

• Abra’s best features aren’t available worldwide. They focus on serving US and Philippines customers.
• Abra only offers a mobile app — no browser interface is available.

3. Coinbase

Founded in 2012, Coinbase is considered by the majority of investors as one of the best places to buy Bitcoin.

At the end of 2017, Coinbase announced that it reached a user base of 13 million. Since then, with the increased adoption of cryptocurrencies, we can expect their user base to have grown way over the 20 million people who find it the easiest way to buy bitcoin.

• Coinbase is insured. This brings incredible peace of mind.
• Coinbase offers an incredible level of security. Your cryptocurrencies are safe even in the event of a hack. Rest easy.
• Coinbase is legal and regulated in every country it operates from.
• Open to residents of most countries, although some features vary based on your country of residence.
• Easy to use Interface. The site and mobile app are quick to understand and use.
• Over 15 cryptocurrencies available.

• You can use Coinbase to its full potential only if you’re a US, UK, or EU resident. Canadians, for example, cannot perform bank transfers — only credit and debit cards with 4% fees are accessible.
• Fees are on average: 1.5% when buying Bitcoin with your bank account, 4% when buying Bitcoin with a credit card.

4. BitBuy

There aren’t so many decent platforms to invest in Bitcoin from Canada, as most international platforms do not welcome Canadian residents or do not offer them as good features as other features.

But BitBuy is one of them, and probably the best way to buy Bitcoin for Canadian residents. Founded in 2013, they offer a great user experience as well as reasonable fees.

• BitBuy is a registered money service business regulated by FINTRAC.
• Funding fees, trading fees and withdrawal fees are all reasonable compared to the competition in Canada.
• BitBuy has gone through many regulatory and financial audits successfully.
• They store most funds in cold storage, which means your funds should be safe.
• They offer a pleasant user experience.
• 6 cryptocurrencies available. Not great, but not bad for a Canadian exchange.

• The biggest disadvantage of BitBuy is its lengthy registration and verification process. They will require many documents to validate your identity and address, and might need up to a few days to allow you to trade. But this is the case with most canadian cryptocurrency exchanges.

5. Honorable Mentions

If you’re looking for more ways to buy Bitcoin, these are also good options:

Introduction To The Crypto World

People mix up Bitcoin with Cryptocurrencies, Blockchain, Exchanges (like eToro and Coinbase), Wallets (like Blockchain.com) and others. Some basic knowledge is mandatory before you get started.

• There are thousands of cryptocurrencies . But all cryptocurrencies are not Bitcoin. Bitcoin is the first and most important cryptocurrency.
• You don’t have to buy 1 whole Bitcoin. Bitcoin is divisible. It’s even more divisible than the dollar. $1 can be divided to 2 decimal points: $1.00 — while Bitcoin can be divided into 8: 1.0000000 This means you could own 0.00000001 BTC (short for Bitcoin).
• Bitcoin is built on Blockchain Technology. If Bitcoin was a car, imagine Blockchain as the roads that allow Bitcoin to travel from one user to another.
• Exchanges , like eToro and Coinbase, are independent websites that allow you to exchange fiat money (like the US dollar) for cryptocurrencies.
• Wallets , like Blockchain.com, are software that facilitate access to the blockchain. They are used to transfer and store Bitcoin and other cryptocurrencies securely.

You will discover more about the cryptocurrency world and jargon as you learn how to buy in Bitcoin. First, you need to answer the following question: where can I buy Bitcoin?

Soon, you’ll realize that the best places to buy Bitcoin depend on where you live, as well as your expectations.

Finding the Right Site For Your Needs

There are plenty of exchanges and ways to buy Bitcoin in 2021. Some are better than others, but most of all, each of them has different characteristics.

Before I reveal how to invest in Bitcoin based on your needs, you first need to know what YOU want.

Here’s what you should take into account:

1. Anonymity

Exchanges, especially the large ones, are required by law to only accept users who comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements. Such legal requirements are useful to prevent money laundering and funds being used to finance terrorism. This means that though one exchange may be one of the best ways to buy bitcoin, you do need to provide and verify your identity to do so.

2. Fees

Different exchanges charge different fees. Goes without saying. If you’re looking for the cheapest way to buy bitcoin vs. the fastest way to buy bitcoin — then fees will come into effect.

3. Ease of use

Some exchanges are simpler to use. The ease of verifying your identity, the user interface, the customer service. These factors play a role.

4. Payment methods

Did you know you can buy Bitcoin with credit and debit card? Then there’s the standard methods: bank account transfer, cash, and more.

5. Regulatory compliance

Making sure your exchange complies with regulations is a smart idea. If the exchange is asking for KYC and AML checks, you can rest assured you’re on the right path.

6. Security

Identity theft is no joke. Passwords get stolen, identities impersonated, and more. Make sure your exchange offers 2FA and other security features so that you stay secure.

7. Limits

Exchanges act like banks sometimes. In this case, it’s withdrawal limits. Your withdrawal limits will often be based on your level of identity verification. Still, some exchanges offer higher withdrawal limits than some others.

8. Liquidity

Trading volume is an essential factor. Larger exchanges will have more liquidity , which means you’ll be able to buy and sell a high amount of bitcoin at better, more even and fair prices.

9. Speed

The speed at which an exchange can process your order can be quite important. After all, you don’t want your Bitcoin order stuck on a waiting list while its value jumps all over the charts.

10. Are your funds insured?

Arguably one of the most critical factors on this list. Your exchange should carry insurance. What if the exchange goes down, is hacked, or the founder makes off with the money? Make sure to choose an exchange that protects you when deciding where to buy bitcoin online.

11. Reputation

Does your exchange have a bad reputation? It’s easy to google ‘X exchange reviews’ and see what people have gone through.

Do beware of the ratings though: Most exchanges have bad reviews on public sites. This is because people rate them mostly when they’re experiencing serious issues.

When checking on an exchange’s reputation, check the negative comments individually. You will often notice patterns (bad customer services, locked out of their account, etc.). This will give you a more accurate view than the global rating.

12. Customer service

A factor that doesn’t seem important until something goes wrong and you need it. Customer service response times, support levels, and languages are all good to consider when wondering where to buy bitcoin.

13. Geo-restriction

Some exchanges might also not be fully available in your country. You’ll find a link for each of my picks to help you determine if you can use the exchange or not in your area.

Takeaway: there are hundreds of exchanges from which you can buy bitcoin. In the end, you should choose your favorite option based on your country of residence and your personal preferences.

Payment Methods Compared

There’s no such thing as ‘one size fits all’ — not in shirts, not in pants, and not when investing in Bitcoin.

So here is a short comparison of payment methods to help you determine which one fits your needs best.

• Credit/Debit Card
  Investing in Bitcoin using your credit card is easy and fast. Easy because you don’t need to get up (except maybe to get your card to read the numbers). Fast because it’s like buying anything else with a credit card. Keep in mind the amount you can buy is relatively low (to prevent fraud), and the fees are high too (since credit card payments can be reversed and that’s a risk for sellers).
• Bank transfers
  A bit slow, but the amount you can buy is quite high. The fees are very low, especially on exchanges. Overall, one of the best methods to be a profitable cryptocurrency investor.
• Cash
  The only way to buy Bitcoin anonymously. Credit cards and bank accounts are linked to your identity. Cash isn’t. Using cash on a Bitcoin ATM can be relatively quick and easy. So can buying from someone on LocalBitcoins, the most popular anonymous way to buy Bitcoin. B keep in mind that neither are insured, and fees vary greatly.
• PayPal
  When depositing with Paypal is free (like it’s the case with eToro), Paypal is surely the easiest way to buy Bitcoin — even easier than your credit card. However, most of the time, in order to buy Bitcoin with Paypal, you will have to trade your Paypal money for cash or money into your bank, and use one of these options. In this case, Paypal becomes the worst way to buy Bitcoin, quite frankly. The fees will be high, no anonymity, and it can take a long time.

The Cheapest Place To Buy Bitcoin

eToro is the cheapest place to buy Bitcoin in our list. However, when it comes to other cryptocurrencies, it isn’t always the cheapest.

Abra also offers competitive prices for US residents, and so does BitBuy for Canadian residents.

The Safest Way To Buy Bitcoin

Honestly, all the options I have listed are the safest ways to buy Bitcoin — to the best of my knowledge.

They all offer security through different aspects: eToro is running for 14 years and is regulated in many countries, Coinbase offers many security features in addition to an insurance that covers certain types of losses, and so on.

The Easiest Way To Buy Bitcoin

From our list, the easiest way to buy Bitcoin is eToro. Their registration process is smoother than the alternatives, you can deposit without fees, and they allow you to trade even if they haven’t approved your verification documents.

When all I have is a mobile phone around me, then I use Abra (when I’m in the states), which is also quick and easy to set up.

The Fastest Way To Buy Bitcoin

What’s the fastest way to buy Bitcoin? A mobile app or website that accepts payment in debit and credit cards. That way, you can buy from your phone quickly. Abra (for US residents) answers that need.

As mentioned, you can also buy Bitcoin quickly on eToro.

Another option is a BTM (short for ‘Bitcoin ATM’). Bitcoin ATMs are popping up in countries around the world. Even medium cities like Portland, Oregon (population 720,000) have a handful of BTM’s. These machines enable you to walk up, insert cash, and take out BTC.

How Do I Buy Bitcoin Near Me?

BTMs are popping up across cities and countries worldwide. The easiest way to find them is by Coin ATM Radar.

Some BTMs do require ID verification, however. Not all but some. This varies depending on state laws (in the US) and country or even city laws (outside the US). Be sure to Google your local BTM laws, or when you visit a BTM, read their guide before buying.

Best Ways To Buy Bitcoin Anonymously

The days of buying Bitcoin anonymously are dwindling. People could go to Shapeshift or Changelly to purchase BTC anonymously — once upon a time. These days, governments have begun to crack down, enforcing KYC and AML laws on most bitcoin buying platforms.

The best way to buy Bitcoin anonymously now is to buy it directly from someone. You can do this by attending a Bitcoin meetup, if there is one in your area, and asking if anyone wants to trade — or by searching through Localbitcoins for a seller with a solid reputation.

Best Ways To Buy Bitcoin With Paypal

If you use an established intermediary such as eToro which accept Paypal deposits without fees, buying Bitcoin with Paypal is an excellent option, and probably the best way to buy Bitcoin you can find.

However, and I know I speak for my fellow Cryptomaniaks here, I do not advise buying BTC with Paypal if the cryptocurrency exchange doesn’t offer it as a payment method. Mostly because you will need to go through intermediaries, and the fee can go up to 10% per trade.

Best Place To Buy Bitcoin With A Credit/Debit Card

The best way to buy bitcoin with a credit or debit card is to find a platform that offers excellent security, acceptable fees and that is convenient to use.

eToro is the best way to buy Bitcoin with a credit card for most people. It’s free, it’s convenient, and it’s fast.

Abra (for US residents) also stands out. The app is fast, secure, and they have acceptable fees when buying with a credit/debit card.

Coinbase is also an excellent option, especially if you consider that they are available pretty much worldwide.

On the other hand, BitBuy doesn’t offer deposits with a credit/debit card.

If you prefer anonymity, you can buy cryptocurrencies with credit cards and debit cards at LocalBitcoins — but the rates will be much higher.

Best Ways To Buy Bitcoin With Your Bank Account

eToro, Abra (US residents) and Coinbase (US, UK, and EU residents) are — again — places to go. Using your bank account requires verifying your identity. But these exchanges know how to make this process smooth and easy.

How To Buy More Cryptocurrencies, or ‘Altcoins’

Most platforms allowing you to buy Bitcoin with fiat have a limited number of cryptocurrencies available. If you want to buy more cryptocurrencies, you’ll have to use platforms that allow you to trade your Bitcoin for other cryptocurrencies.

To buy more cryptocurrencies, Binance (the international version of the platform) is the best exchange — and one of the biggest in the world. When searching for the best way to buy cryptocurrencies in general, altcoins of all sorts — this exchange stands out.

• Basic accounts do not need ID verification. Preserve your anonymity.
• Binance goes to great lengths to ensure your security
• 100+ of the best altcoins available
• Binance regularly updates its list of cryptocurrency available to keep its offering as qualitative as possible.
• Low fees — 0.1% and lower.
• They innovate constantly. For example, Binance has created its token named Binance Coin (BNB). If you own some, then your fees can be further reduced.

• Not the best customer service.
• Not insured.

See You On The Other Side!

There you have it, a full and comprehensive list of the best way to buy Bitcoin in 2021 — according to your preferences.

If you want to fast track through cryptocurrency investing, we also offer a premium course on cryptocurrency investing. The course will guide you from A to Z and includes all the knowledge you need to become a solid cryptocurrency investor in no time. And since you have made it so far throughout this guide and proved you’re serious about investing in Bitcoin, here’s a reward: use the promo code “SeriousCrypto” to get $20 off the regular price!

Remember: buying Bitcoin is the way to enter the fascinating cryptocurrency space and learn about it. Once you own some Bitcoin, you’ll discover a lot of new opportunities.

Make sure to take action — you won’t regret it.

To Move Forward:

Should I consider buying bitcoins?

Yes. You don’t need much, even something small like $5 will allow you to buy a few bits of Bitcoin. This will help you learn about this new technology and how to buy, sell, and transfer it. After that, you can decide to buy more or not.

How to buy bitcoin legally?

As long as you can buy Bitcoin legally in your country of residence, then you can buy it anywhere: personally from someone, on an exchange, or even earning it through work or through Bitcoin faucets.

What are the safest sites to buy bitcoin?

The safest sites to buy Bitcoin are those that require you to complete KYC and AML. This means proving your identity. If they ask you to do this, it means they are following laws and are responsible and report to their government. This reduces the chances of them being an exit scam type of company.

What is the cheapest way to buy bitcoin?

The cheapest way to buy Bitcoin is to buy it from someone at the current exchange rate. This will let you avoid transaction fees. If you can’t find this as a method then find a large exchange with small transaction fees.

Источник