We Found These 7 Cheapest Places to Buy Bitcoin – Try Them For Maximum Benefits

Satoshi Nakamoto mined the first Bitcoin (BTC) in 2009. At the same time, its market capitalization has made growth from 2020 to up till now. People’s minds significantly changed when the report of the CoinMarketCap shows that the market capitalization of Bitcoin has spiked up to $600 billion. You will also be curious about the cheapest place to buy bitcoin.

So, you have chosen the right track to get it, but it might be a little bit confusing for you. Also, the questions will be lingering in your mind about where to buy bitcoin? If you are a newcomer in this crypto world, buying your first BTC would be a tedious task for you.

However, it would be healthy for you not to worry about it. We are here to guide you on how you can get the best price to buy bitcoin.

Numerous places offer their services for buying bitcoin. The most trustable platforms for buying Bitcoins are Coinbase, Binance, etc. All these places also provide services to buy bitcoin with PayPal, debit cards, and credit cards.

Likewise, these places also offer distinctive styles to purchase Bitcoin. Every process of buying Bitcoin has its fees. But we will also tell you about some freeways to get bitcoin and some of the cheapest places to buy Bitcoin.

What are the Cheap Ways to Get Bitcoin?

Many Bitcoin (BTC) trading platforms offer both buying and selling services to make it easier for crypto lovers. And for a good reason, different people have different priorities while acquiring their first Bitcoin. Some prefer freeways, and many look for the cheapest places that give them affordable exchange rates.

Although some platforms are free, and some offer the cheapest rates for brokerage because they use them to maintain their operations.

The most famous reasons are the following:

Free Ways

So, it is impracticable to get something for zero, but you can get your free bitcoin in some cases, which are under:

  • You can take advantage of Bitcoin faucets. BTC faucet is a popular website that enables you to receive a BTC fraction for completing an easy job, such as viewing some advertisements.
  • Also, you can compete in cryptocurrency bounty schemes. With these competitive schemes, you can get Bitcoin (BTC) on social media by creating content.
  • The online shopping services Lolli and Pei often provide BTC in the form of free Bitcoin rewards.
  • You can also get free BTC by opening an interest base account at BlockFi (BIA-BlockFi Interest Account), which stores crypto assets.

Some Cheapest Places

There are multiple online cheapest places (websites) where you can get your BTC with the most reasonable fees. So, a few of the most beneficial and reliable crypto exchanges: Coinbase, Bitstamp, Kraken, and Binance. Similarly, other Crypto trading platforms are bitcoin derivatives and crypto CFD, Local Bitcoins, and Gemini.

There are, however, differences in exchange rates for all these platforms. For Bitcoin buying and selling, they charge varying fees.

List of 7 Cheap Ways to Buy Bitcoin with the Exchange

If you are going to buy your first bitcoin, you first have to look for Bitcoin faucets. For instance, you have to go for the profoundly reputed place, significant trading volume, available review devices, high limits, and having a mobile application.

While another essential feature to look for is its payment method because it affects the rate of exchange with low fees. Keep in mind that the Bitcoin price changes almost every day. So, finding the cheapest place to buy bitcoin could influence the overall amount that you spend on the cryptocurrency mentioned above.

So, you can commence your online bitcoin (BTC) trading from the following platforms to exchange online:

  1. Coinbase

Coinbase is a San Francisco-based world’s most popular cryptocurrency exchange and wallet provider. Globally, Coinbase has more than 44 million consumers and the cheapest place for crypto lovers and traders. At Coinbase, you can buy and sell many cryptocurrencies, including (BTC) Bitcoin, at a low price.

Coinbase provides an excellent and robust security system, along with reasonable fees to its users. Additionally, Coinbase has a PRO VERSION with more advanced trading features and vehicles such as diagrams, charts, and graphs, etc.

It offers various payment methods such as wire transfer, PayPal, credit cards, and debit cards. Coinbase charges range from 0.50% to 3.99%, depending on the funding method you use.  

Pros

  • Plenty of fiat deposit and withdrawal choices
  • Guaranteed Bitcoin deposit
  • Various online and mobile wallet-link services
  • Superior security hallmarks and Two-factor- authentication
  • Simple to use

Cons

  • Deposits and withdrawals take time 
  • It supports limited crypto assets
  1. Local Bitcoins

LocalBitcoins is a peer-to-peer Finland-based crypto-exchange exchange. It permits its customers to buy and sell their Bitcoins directly with each other. It means that through LocalBitcoins, one can buy BTC in your region from local people.

LocalBitcoins also permits many payment methods for buying and selling bitcoin, but it depends on your location. The following payment methods are feasible to you: PayPal, bank deposits, bank transfers, credit cards, and cash! From the security point of view, LocalBitcoins has an extraordinary user rating characteristic.

Pros

  • It promotes privacy when you are buying BTC
  • Provides a lot of payment methods
  • No limits during buying and selling
  • You can buy your BTC within an hour with a cash deposit.
  • Extremely swift In-person cash transactions

Cons

  • With cash, you may have to pay high fees.
  • It may be necessary to verify ID for considerable amounts.
  1. Gemini

Gemini is a United States company, and the Federal Deposit Insurance Corporation shields it to protect USD.  There is nothing complicated about this platform, and very simple to use, ensuring maximum safety and transparency for all its users.

It has a different payment method because it will not allow credit, debit, checks, and cash cards. People require to connect their bank accounts and inaugurate an ACH deposit and wire exchange at Gemini to buy Bitcoin online. You’ll also get $10 when you allot $100 to your new Gemini account!

Pros

  • High-grade reputation
  • Licensed in more than 42 US states and many countries across the globe
  • On-the-spot Deposit for ACH Transfers
  • You can trade dollars and Bitcoins on this exchange.

Cons

  • Limited payment methods
  1. Kraken

Since 2011, Kraken has worked to become the world’s leading crypto exchange. In the context of the volume of euro and liquidity, it holds the status of the world’s biggest bitcoin (BTC) exchange. For both deposits and withdrawal, bank deposits and SEPA credit exchange are acceptable ways to pay.

Pros

  • It features a built-in wallet.
  • It grants business accounts to regular customers
  • It also highlights (2FA) two-factor authentication
  • Have cold storage and multisig wallets

Cons

  • Its user interface seems to be outdated
  1. Bitstamp

Bitstamp is another pre-eminent BTC exchange that has been in operation since 2011. Luxembourg’s (MOF) Ministry of Finance licenses it for crypto exchange. It offers the best options for acquiring more modest amounts of bitcoins. So it is the most reliable platform to purchase Bitcoins.

Bitstamp provides many choices for both deposit and withdrawal, which are credit/debit cards and SEPA bank transfers.

Pros

  • The customer service is excellent.
  • Trades move quickly
  • The resources are plentiful for analysis.
  • Approved and transparent
  • Very easy to use

Cons

  • Its registration process is long and complicated.
  1. Cex

CEX is a London-based crypto broker exchange. It provides services in the 24 states in the US and gives its services to the 99% of the world. When utilizing a credit or debit card to purchase BTC at CEX, it charges just 7%. It may charge you a lower rate if you deposit funds in your account before buying.

Moreover, it’s a multi-asset crypto platform that accepts payments with debit and credit cards once a confirmation process occurs. While for free, you can deposit US dollars, pound sterling, and euro by bank transfer.

Pros

  • Most countries in the world have access to it.
  • You can deposit by bank transfer with USD, GBP, and Euros for free
  • It is the safest and reliable Bitcoin buying platform

Cons

  • Beginners may find this a little bit complex.
  1. Binance

Binance is a crypto platform that operates in the United States. Binance offers its services with meager fees along with many coins. Therefore, it is one of the leading global cryptocurrency exchanges and the cheapest place to buy Bitcoin.

Plus, it has the most significant trading volume and provides various payment methods such as debit cards, bank transfers, and credit cards.

Pros

  • Minimal charge fees
  • More than 80 cryptocurrencies accepted and tradeable
  • Great apps for mobile devices
  • 2 BTC-per-day limits for anonymous accounts

Cons

  • Margin buying is available only in the USA

Frequently Asked Questions (FAQs)

Where is the cheapest place to buy bitcoins?

Coinbase is one of our recommended brokers that is the fastest and the cheapest place to buy Bitcoin. It offers the most reasonable fees in the syndicate for direct investment with credit cards and debit cards.

Can I buy Bitcoin for $1?

Yes, you can buy bitcoin for $1. Because Bitcoin runs on the satoshi system, the smallest unit is 0.00000001 BTC (eight decimal points).

One Bitcoin is equal to (100,000,000) satoshis. Therefore one Bitcoin is worth $100,000,000 or maybe less (if one satoshi worth is less than 1-US Dollar), then you can invest as little as $1 in Bitcoin.

How can I buy Bitcoins without fees?

As the crypto exchange ecosystem keeps growing even more, crypto exchanges now offer you Bitcoin at no fees! You have already told you that Coinbase will not charge fees for deposits.

Well, Coinbase holds a sister firm named GDAX. Meanwhile, you open a Coinbase account, and you also gain entrance to GDAX. So the GDAX does not impose maker fees. The benefit of this is that you would not require to pay any fees when buying Bitcoin!

If you want to do it, you should have to transfer assets from Coinbase to GDAX for free. But you need to submit a buy order to receive your free BTC Without a fee!                                                                       

How can I get $10 Bitcoins?

Many of the BTC exchanges have set the minor order, even $10; with them, you can get $10 worth of Bitcoins.

For instance, you have to go to a broker such as Coinbase. It will allow you to buy $10 worth of bitcoin. So, it does not make you a millionaire, but it is an optimistic purchase of BTC to enter the crypto world.

Can you buy Bitcoins at Walmart?

You can buy your Bitcoin (BTC) at Walmart in an innovative way, like a peer-to-peer platform identified as Paxful. So far, anyone can purchase Bitcoin from Walmart. The first step is setting up a Bitcoin Wallet. The next step is signing up on a peer-to-peer platform to receive Bitcoin.

Where can I buy genuine Bitcoins?                                                                

You’ll find a lot of places that claim Bitcoin is cheap. However, are they genuine? If you want to buy genuine Bitcoin, take a look at the platforms discussed above.

But my recommendation would be the Bitstamp to open an account with them. Then let them know all your information about yourself and your location. It also includes current bills. Then you use your bank account to pay their bank with your ID.

Where can I trade Bitcoin for free?

Let me answer you that there is no free lunch everywhere, but some will give more economical fees. The lowest prices we have ever observed on legal and trusted trading websites were approximately 0.7% to 0.05%.

So, the Screener.co is a very sound original stock screener. It is free for just 30 days and then will charge 24.95-USD. So you can trade your Bitcoin for free here.

Conclusion:

Well! After reviewing dozens of the cheapest places to buy Bitcoin online, we have chosen the above top seven places due to some factors. These factors cover the records of its exchange, customer support, fees charges, wallet security, and BTC buying time.

It would be excellent if you had to buy Bitcoin from the most reliable, trustworthy, and easy-to-use site. It is also essential to choose a safe Bitcoin wallet. So we are hopeful after reading this guide, you will be able to get the best price to buy Bitcoins.

We would like to hear from you which cheapest place and method you have used for your first Bitcoin. Please! Comment in the comment box.