Where to buy bitcoin

First Time
Buying Bitcoin?

New to crypto? Here’s our guide!

We want to make it easier for you to buy cryptocurrency — including Bitcoin and Ethereum — no matter where you live in the world! Learn from us as we walk you through some of the topics that beginners will need to understand to get started.

How to Buy Bitcoin and Other Cryptocurrencies

We understand that it can be difficult and confusing for new users to take their first steps into the world of Bitcoin, blockchain and cryptocurrencies.

CoinMarketCap is here to help! We’ve collected information from over 300 cryptocurrency exchanges globally and through that data, prepared a quick guide to help you choose the best crypto exchange so you can finally buy your first Bitcoin!

The options available to purchase Bitcoins and other assets do differ from one country to another due to the laws that exchanges operate under. The options to buy Bitcoin with credit cards, debit cards or transfers from a bank account also differ from country to country and between exchanges. Here at CoinMarketCap, we are here to help guide you through those options.

As you might have seen from our homepage, there are thousands of cryptoassets to choose from. While most people start with one of the biggest coins — such as Bitcoin, Ethereum, Bitcoin Cash or Ripple — it is possible to purchase very obscure, high-risk and speculative assets as well.

Choosing the Best Bitcoin Exchange

The very first step involves choosing an exchange or trading platform that supports the deposit and withdrawal of your local fiat currency. Many exchanges are localized and only support a select number of currencies. This page allows you to see which exchanges support your currency of choice.

Using our extensively collected data from all exchanges, we are able to rank these exchanges based on volume, liquidity (how easy it is to buy and sell Bitcoin) and each exchange’s estimated number of users. We hope this ranking can help you better decide where you would like to buy your first Bitcoin!

You can also check if exchanges are licensed and regulated, the different deposit and withdrawal methods they support, their fees and trading commissions and their Bitcoin price. We have conveniently displayed all the information for you to make your decision on just one page.

These subjects might sound a little mundane, but it is important to remember that a crypto exchange has to operate under similar rules to a stockbroker. This means that they have very high standards for documentation to comply with the local laws. Certain exchanges might not be a good fit for you because of the country you are from and it is helpful to know that in advance, so that you can choose the best place to buy Bitcoin and crypto for your own situation.

Understanding the Different Payment Methods Available

There are four main methods of depositing local currencies on a crypto exchange. They are: 1) Local bank transfers; 2) International wire transfers; 3) Third party payment processors; 4) Credit/debit cards.

For the first several years, it was not possible to buy Bitcoin or any of the other early cryptocurrencies with a credit card, debit card, or with third party payment processors like PayPal, because it is possible to reverse those transactions. Since a blockchain transfer cannot be reversed, it would have been possible to pay, receive the crypto, transfer it off the exchange and then reverse the payment. This meant that for years, the price of BTC and all crypto was supported by real money with no borrowing.

Therefore, until quite recently, it was only possible to get Bitcoins from an exchange with either a local bank transfer or a wire transfer.

Disadvantages

#	Name	Based in	Regulated	Founded	Deposits	Withdrawals	Price
1	Coinbase Coinbase, Inc.	United States of America
2	Kraken Payward Ventures, Inc.	United States of America
3	Binance US BAM Trading Services, Inc.	United States of America
4	EXMO EXMO EXCHANGE LTD.	United Kingdom of Great Britain and Northern Ireland	Apr 2015
5	CEX.IO CEX.IO LTD	United Kingdom of Great Britain and Northern Ireland	Jun 2013
6	Gemini Gemini Trust Company, LLC	United States of America
Local Bank Transfer	Usually the quickest, easiest and cheapest with a local bank account	Not all exchanges will offer this service
International Wire Transfer (SWIFT)	The SWIFT protocol is widely accepted and used to transfer money (large and small amounts)	May take a few days to process, higher fees
Third Party Payment Processor (Paypal, Webmoney, Skrill, etc.)	Quick and easy for users with accounts on these platforms to deposit and withdraw	Need to create an account with third party payment sites
Credit/Debit Card (Visa, Mastercard)	Quick and easy to deposit small amounts of money	Very expensive (credit card fees are passed to you), and there is usually a maximum deposit sum (which will be small)

Local Bank Transfer

International Wire Transfer (SWIFT)

Third Party Payment Processor (Paypal, Webmoney, Skrill, etc.)

Credit/Debit Card (Visa, Mastercard)

Is It Possible To Buy Bitcoin Instantly?

It often takes several days to fully open and verify an account with an exchange because of the documentation requirements they face. However, once an account is open, it is possible to fund it quickly — via bank transfer, wire transfer, credit card, debit card or transferring in crypto that is held elsewhere — and then buy, sell or make a trade very quickly. Some exchanges will allow new customers to make trades using leverage — borrowed money — immediately, while others do not. This means that it is important to check whether or not cards such as Visa, Mastercard, American Express and Visa Electron are allowed with any exchange that you choose.

Once verification with an exchange has been completed and a deposit has been made, it is possible to buy any of the assets that they make a market in. The range of assets available differs substantially from exchange to exchange but all offer the top coins like Bitcoin, Ethereum, Ripple and Bitcoin Cash.

What You Need to Do to Purchase Bitcoin

Now that you have decided which exchange you would like to trade on, it is time to register an account and get a Bitcoin address! After registration, it is perfectly normal if exchanges require you to verify your identity. This is what we call “Know Your Customer” or KYC. The process will involve you submitting photos to prove your identity. After submission, the process may take a few hours or up to a few days to complete. Be patient!

After KYC is complete, you should now be allowed to deposit money into your account. Referring to the above, please select the option that makes the most sense for you. We recommend going via a local bank transfer if possible, but a SWIFT transfer or via a third party payment processor also works. Only use credit cards for small sums of purchases as the fees do add up! (Exchanges usually charge 3-4% in credit card fees)

Once the money is deposited, you are ready to buy your first Bitcoin! Remember, you don’t have to buy an entire Bitcoin — you can buy part of a Bitcoin, as each Bitcoin is broken down into 100 million Satoshis!

How To Buy Bitcoin: Steps For Beginners

To complete your first purchase, you will need to select the coin you wish to buy on the exchange. Exchanges have a “Trade” section and within this you will need to choose a coin, such as BTC, ETH or another. Cryptoassets are traded in pairs. The largest coins will have pairs that match the main government currencies. This means that you can buy directly from USD, EUR, GBP, etc. into your coin of choice.

Purchases can either be made at the current market price or you can set a price that you would like to buy at. If you set your price too far below the current market price, your deal might not be concluded for some time, or possibly never! It will only be concluded if the asset falls to the price that you have entered.

Many smaller coins and assets do not have pairs with fiat currencies. To buy or sell these, you will need to transact via another asset, usually BTC, ETH or a stablecoin based on the U.S. dollar. To do this, you should select a coin, select BTC and then make your purchase. A few seconds later, your account will show you as holding BTC rather than your deposited currency. Now you can select a new trade, using BTC as one half of the pair and your coin of choice as the other. The exchange will be concluded at the current coin to coin market rate.

Ways to Store Your Bitcoin

Keep BTC on a Bitcoin Exchange

Bitcoin exchanges allow you to store your digital currency directly with them, which is probably the most convenient storage method for those new to crypto. Do note that incidents have occurred when exchanges have been hacked or lost their customers’ BTC or altcoins, so do be aware of the risks of keeping BTC on an exchange! Otherwise, you could opt to keep your BTC on an external wallet — which also has risks for newbie crypto users that aren’t yet comfortable holding their own private keys.

How you plan to use your new cryptocurrency might influence how to buy and how you plan to store it. If, for example, you want to own Bitcoin or an altcoin as a short-term investment, it might be easier and simpler to hold your coins on the exchange you purchased them through. There can be additional security issues to doing this, but the reality is that most people hold at least some of their coins on an exchange. If your goal is to simply learn how to invest in Bitcoin, this is likely to be the easiest option.

If you plan to purchase BTC or other assets for trading purposes, then you will need to store them on the exchange because they become collateral — the asset that you stake or borrow against. There are many exchanges that will allow margin trading of crypto for their customers. This is obviously a very high risk strategy for money management and we recommend that you take appropriate financial advice for your personal situation.

However, if you plan to buy cryptocurrency in large amounts, or you plan to use it to buy goods and services online, then you ought to hold the coins yourself. To do this you will require some type of online or hardware wallet.

Keep BTC in a Bitcoin Wallet

Instead of keeping your digital assets on a Bitcoin exchange, you could keep your BTC in a Bitcoin wallet. Wallets come in two forms — hot and cold. Hot wallets are software that stays connected to the internet, aka storing your Bitcoin online in a digital wallet or a mobile wallet. It is more convenient to transact via a hot wallet, but they are more susceptible to being attacked. Cold storage of your new Bitcoin is possible by using hardware wallets, but online wallets are potentially more user-friendly for crypto newbies.

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Buy quickly and easily

Use your credit card, payment app, or bank account to buy Bitcoin, Bitcoin Cash, Ethereum, and other select cryptocurrencies

Why buy crypto at Bitcoin.com?

There’s no faster, safer place to buy cryptocurrency

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Your funds are protected by the industry’s leading payment processors

Your preferred payment method

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Wide choice of crypto

Get access to a selection of the world’s leading cryptocurrencies including BTC, ETH, BCH, and more

How can you buy crypto at Bitcoin.com?

We make it easy to experience the future of money

1. Get your free wallet

Download the Bitcoin.com Wallet mobile app and tap the Buy button

2. Verify your identity

If you want more than $100 worth of crypto, you’ll need to verify your identity. We make the process easy.

3. Make your payment

Pay for your crypto with credit card, payment app, or by bank transfer

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Best Places to Buy Bitcoin

Coinbase wins with a strong track record and reasonable fees

Bitcoin is a type of virtual currency that you can use for digital purchases or you can trade like stocks or bonds. To buy and sell cryptocurrency including Bitcoin, you need to use a bitcoin exchange.

A bitcoin exchange will allow you to buy Bitcoin in exchange for other assets, including traditional currency or other digital currencies. The best cryptocurrency exchanges are secure, cost-effective, quick to set up, easy to use, and accept a variety of funding sources. Here are our picks for the best places to buy bitcoin.

Best Places to Buy Bitcoin in 2021

• Best Overall:Coinbase
• Best for Beginners:eToro
• Best for No Cost:Robinhood
• Best Instant:CoinMama
• Best for Interest and Borrowing:BlockFi
• Best for Privacy:Bisq

Best Overall : Coinbase

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• Currencies: 50+
• Transaction Fees: Flat fee between $0.99 to $2.99, plus funding fee of up to $3.99%.
• Wallet Included: Yes

If you are brand new to the world of bitcoin and cryptocurrency, Coinbase is an excellent place to start due to support for a number of popular cryptocurrencies, a strong security track record, and reasonable fees.

More than 56 million verified users

Support for a large number of currencies

Spread pricing opens possibility for high fees

High fees for debit card transactions

Coinbase is a large cryptocurrency wallet provider and exchange based in San Francisco. It boasts over 56 million users in over 100 countries, making it a popular choice for cryptocurrency enthusiasts, investors, and traders. Coinbase claims it holds over $223 billion in assets and facilitates more than $335 billion in trade volume each quarter. You can trade dozens of currencies, including Bitcoin at Coinbase.

Coinbase charges several fees, which it discloses upfront when entering a transaction. Those include a flat per-transaction fee and a spread of about 0.50%. Fees vary based on the funding method going up to 3.99% when you use a debit card to buy. Serious users may want to upgrade to Coinbase Pro, which uses its own pricing model.

Coinbase offers strong security through Coinbase Vaults, two-factor authentication, and its use of offline storage for the vast majority of client assets.

Best for Beginners : eToro

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• Currencies: 18
• Transaction Fees: Spread price of 0.75%
• Wallet Included: Yes

eToro is currently offering a $50 bonus for customers that purchase $1,000 worth of cryptocurrency through their platform. This promotion is in select U.S. states.

eToro is our choice for beginners thanks to an easy-to-use platform and practice accounts that let you test out buying bitcoin without risking real funds.

Free practice accounts with virtual money

Copy-trading system to learn the ropes

High spread fee for bitcoin purchases

If you’re looking for a simple and focused platform that allows you to buy bitcoin while learning more about the cryptocurrency ecosystem, eToro could be right for you. Those new to bitcoin will appreciate the simple and straightforward platform and CopyTrader system that allows you to mimic trades from others on the platform.

You can test the waters with a $100,000 virtual account with no risk to your actual money when you sign up. Once you’re comfortable, you can enter a live trade with real dollars. Just take note of the 0.75% spread price for bitcoin and higher fees for other currencies.

Best for No Cost : Robinhood

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• Currencies: 7
• Transaction Fees: N/A
• Wallet Included: No

Robinhood is our choice for cost thanks to commission-free bitcoin trades.

Buy or sell bitcoin without commissions

Limited supported currencies

No crypto wallet options

When you pay fees of 0.5% or more to buy and sell, you’re giving up a big portion of your potential bitcoin gains right off the top. Robinhood is best known as a commission-free stockbroker, but you can buy and sell bitcoin with no commissions as well. If you already have some experience with stock market investing, buying cryptocurrencies with Robinhood will likely feel familiar, a bonus for those new to bitcoin.

Robinhood Crypto is technically a separate account that you use alongside your Robinhood stock investment account. It supports a fairly short list of currencies, but that could be fine for many bitcoin buyers.

Best Instant : CoinMama

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• Currencies: 8
• Transaction Fees: Up to 3.90% commission fee
• Wallet Included: No

We picked Coinmama because it offers instant bitcoin purchases with many payment options and high limits.

Instant order delivery

Transfer to any crypto wallet

Numerous funding options

Complex fee structure

Additional 5% fee for instant delivery

No ACH bank transfer support

If you want to own bitcoin as quickly as possible and already have a bitcoin wallet, Coinmama may be your best choice. Coinmama features fast account setup and verification. Once you’re logged in, you can buy bitcoin instantly using several payment methods, though there may be a fairly high price tag for those instant purchase privileges.

You can use a credit or debit card to buy one of ten different currencies. When you place an order, the funds are instantly verified with your connected card by Coinmama, then the cryptocurrency you chose is deposited into your crypto wallet. Those in the UK and EU have additional instant funding options that are not available in the US.

Hopefully, they’ll add US-based ACH payments as a funding method, though the nature of electronic transfers in the U.S. wouldn’t allow for instant purchases with this funding method. But if you have a credit or debit card and don’t mind the fees, Coinmama allows you to buy coins with any bitcoin wallet instantly.

Best for Interest and Borrowing : BlockFi

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• Currencies: 6
• Transaction Fees: N/A
• Wallet Included: No

We picked BlockFi because it provides the option to borrow using bitcoin as collateral, trade with no fees, and lend to earn interest.

Earn up to 8.6% APY in crypto

Use Bitcoin as collateral for USD loan

No added fees for cryptocurrency trades

Loan interest rates as high as 9.75%

If you have a lot of cryptocurrency and want to do more with it without selling, you should know about BlockFi. BlockFi enables you to earn interest when you deposit your bitcoin into an account. If you want to unlock your bitcoin without selling, you can also use existing bitcoin as collateral for a loan, but take note of the interest rates of 4.5% to 9.75% and the required 2% origination fee. You can also buy and sell bitcoin and other cryptocurrencies with no added trading fees.

Early adopters to the cryptocurrency bandwagon or with major holdings can earn serious interest with rates up to 8.6% APY (as of May 2021). BlockFi also has a new rewards credit card that will pay you in bitcoin, which shows plenty of innovation to come from this unique crypto exchange.

Best for Privacy : Bisq

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• Currencies: 64
• Transaction Fees: 0.05% to 0.7%
• Wallet Included: Yes

We like Bisq’s decentralized features that improve privacy and anonymity when buying and selling bitcoin through an open-source desktop app.

Decentralized network improves privacy

Software is open source

No registration required

No identity verification required

Potential for slow transactions

Not ideal for active traders

For those drawn to the anonymity provided by bitcoin, Bisq may offer what you’re looking for. Bisq is a decentralized exchange that doesn’t require any signup or account. That means you can use Bisq to buy and sell with nearly complete privacy. The required Bisq desktop app is open source and free to use.

Bisq supports a wide range of payment methods, including bank transfers, Chase QuickPay, Popmoney, Zelle, and Western Union. Trade fees range from 0.05% to 0.70%, depending on what you’re doing and how you pay.

Bisq is best for those with at least a little crypto experience.

Final Verdict

The right cryptocurrency exchange for you will strike an ideal balance between fees, security, and trading options. That’s why it’s important to determine what you want out of an exchange before you dive in.

But if you aren’t sure exactly what you want, then Coinbase is a good place to get started. You can buy a variety of digital currencies with a fair pricing structure in a secure setting.

Compare the Best Places to Buy Bitcoin

Company	Currencies	Trade Fee	Security	Transactions	Max Trading Amount (in USD)
Coinbase Best Overall	50+	Flat fee between $0.99 to $2.99, plus funding fee of up to $3.99%	Two-factor authentication	Buy, Sell, Transfer	Customized trading limit. $25,000/day limit on deposits
eToro Best for Beginners	18	Spread price of 0.75%	Two-factor authentication	Buy, Sell, Transfer	Customized trading limit. $40,000 per debit card transaction
Robinhood Best for No Cost	7	N/A	Two-factor authentication	Buy or Sell	Customized trading limit. $350,000 per coin
Coinmama Best Instant	9	Up to 3.90%	Two-factor authentication	Buy, Sell, Transfer	Customized trading limit. $1,000,000
BlockFi Best for Interest and Borrowing	6	N/A	Two-factor authentication	Buy, Sell, Transfer	$1,200,000
Bisq Best for Privacy	64	0.05% — 0.70%	Multi-signature address	Buy, Sell, Transfer	No trading limits

Frequently Asked Questions

What is a Bitcoin Exchange?

A bitcoin exchange is a digital marketplace where you can convert currency like U.S. dollars into bitcoin. Many exchanges that support bitcoin also support other digital cryptocurrencies.

Every bitcoin exchange uses its own pricing and platform, which may instantly draw you to one exchange over another. Advanced bitcoin users may be interested in more details about the type of exchange. For example, some exchanges use centralized systems and user accounts while others are decentralized with a focus on privacy. Depending on what you’re trying to accomplish, you may prefer one type of exchange over another.

How Does a Bitcoin Exchange Work?

Bitcoin exchanges connect buyers and sellers and act as a middleman, or a broker, in some cases. When you buy bitcoin using a bitcoin wallet, the transaction is recorded on the Bitcoin Blockchain, which publicly tracks bitcoin-based transactions. In some cases, exchanges may transact on your behalf and not deliver bitcoin to an external digital wallet.

Are Bitcoin Exchanges Legal?

Bitcoin exchanges are generally considered legal in the United States. However, it is your responsibility to report capital gains to stay on the right side of the law for your annual tax filing.

What Are Some Differences Between Bitcoin Exchanges and Wallets?

Bitcoin exchanges are a place you can buy and sell bitcoin. In many cases, the exchange also includes a wallet, which is the “account” that holds your cryptocurrency. When you use a centralized exchange online or through a mobile app, the exchange will effectively hold the bitcoin on your behalf.

Bitcoin also enables you to use external wallets outside of an exchange. These include computer-based and web-based “hot wallets” and offline “cold wallets” that work kind of like a USB security fob. If you buy bitcoin at most exchanges, you have the option to transfer your coins to any bitcoin wallet.

What Are Some Differences Between Bitcoin Exchanges and Mining Software?

Bitcoin mining software is a type of application that helps maintain the Bitcoin Blockchain. Every transaction on the blockchain is public and recorded on countless computers around the world. When a transaction takes place, computers called miners race to record the transaction and get a small fee, which is paid by those who make the transaction.

When you run a bitcoin miner, you can effectively “create” your own bitcoin if you win the race and get paid the transaction fee. To improve your chances, you can join a pool with other miners. However, be aware that mining is very power-intensive and could wind up costing you more than it makes you. Bitcoin mining is best for those who are very computer savvy.

Is Buying Bitcoin Safe?

Buying Bitcoin is safe whenever you use a vetted and respected platform. It’s important to research any platform where you’re considering purchasing Bitcoin before you decide to take the plunge. In terms of Bitcoin being a safe investment, the value fluctuates more frequently than many other traditional investments. If you’re looking to support a decentralized method of making payments, Bitcoin can be valuable. However, there’s no guarantee or insurance protecting any value of what you’re purchasing.

How Can I Buy Bitcoin?

If you’re looking to buy bitcoin, follow these steps to get started:

1. Pick an exchange and wallet provider: The first step is to pick a place to buy and store your bitcoin. The easiest and fastest way to start is to choose an exchange that also offers secure bitcoin storage.
2. Open an account: Once you’ve picked your favorite exchange, you will most likely need to open an account and supply basic personal information. Some decentralized exchanges don’t require an account, but you’ll need an existing wallet and more technical know-how to use this type of exchange.
3. Fund your account: If you choose a provider that allows you to deposit fiat current (USD, EUR, GBP, etc.), you’ll probably have to fund your account before you can make an order. You may be able to buy right away with a debit or credit card, but beware of extra fees.
4. Place an order: Now it’s time for the big moment. Place your order and wait for it to fully execute. Because blockchain processing takes some time, your purchase may not be instant. There are many factors that can lead this to take anywhere from a few minutes to over an hour to complete.

Once your order is done, you should see your new bitcoin in your bitcoin wallet or account. Congratulations! You’re a cryptocurrency owner.

Methodology

We looked at more than a dozen of the best places to buy and sell Bitcoin online and settled on the top six places based on a number of factors. These factors included the history of the exchange, customer reviews, the fees each charge, the strength of features for each digital wallet, and the speed at which you can buy Bitcoin.

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