How to Buy Bitcoin (BTC) in 2024: Safe, Easy & Fast

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Last updated Mar 21, 2024 | 09:05 AM UTC

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Intro

If you're wondering how to buy Bitcoin, there are several methods to consider. Start by exploring the best crypto exchanges on the market.

Then, check out crypto wallets, or even PayPal, where you can buy BTC with a credit card. 

There are also some alternative methods to consider like ATMs or gift cards – more on them below.
 

Key Takeaways

  • Centralized exchanges are the safest way to buy Bitcoin
  • PayPal, Venmo, and Cash app are the easiest ways to buy BTC
  • Crypto mobile wallet apps are the fastest ways to get Bitcoin
  • BTC is the safest in a cold personal wallet

 

Safest Way to Buy Bitcoin - Centralized Crypto Exchanges

Centralized cryptocurrency exchanges provide the most secure way to buy Bitcoin. Here’s how to get started.
 

1. Research and Choose an Exchange

Begin by researching reputable cryptocurrency exchanges – check out our toplist. 

Consider security features, transaction fees, supported payment methods, and user reviews. 

The safest crypto exchanges enforce the use of two-factor authentication (2FA), Secure Socket Layer (SSL, the little locker next to the web address), and Anti-Money Laundering procedures.

While their fees differ, CEXs support various payment methods. You can use bank transfers, debit/credit cards, crypto, PayPal, Apple Pay, Google Pay, etc.

Read user reviews on Trustpilot to see what others think about the exchange. Those reviews can help you decide on the right one. 

Finally, the crypto exchange should be transparent about how it runs a business, especially regarding finance, security breaches, and liabilities. 

One such example is Uphold, which has been dedicated to transparency since 2014.
 

2. Create an Account and Verify ID

Sign up for an account on your selected exchange. Prepare your government-issued ID and proof of address for ID verification. 

This is a common, mandatory process on centralized exchanges since they need to follow Know Your Customer (KYC) procedures. 

Verification usually lasts for several minutes. During that time, you’ll use your smartphone to follow instructions – for example, hold and scan your ID document.

Plus, passing this ID will lift all limitations on your account. Once you pass it, you can deposit/withdraw any amount and utilize all investing features.
 

3. Deposit Funds

Once you’ve verified your account, you can deposit funds. Exchanges offer several deposit methods. The fastest one is via credit/debit cards and, sometimes, altcoins like Ripple (XRP)

You can also use bank transfers, or payment systems like PayPal. Still, note that some exchanges may not accept PayPal and similar platforms.
 

4. Place an Order

Now is the time to conduct your purchase. You can buy Bitcoin via the instant buy option or on the trading section of the exchange. 

Instant buy is an immediate transaction. You’ll buy BTC at its current price and get it in your wallet within minutes. This is similar to spot trading, only you’re not trading with trading pairs.

However, if you navigate to the trading section, you’ll see available trading pairs and several trading features, like:
 

  • Margin 
  • Options 
  • Spot 
  • Futures 

Some exchanges also offer trading bots. These can help you copy successful trades and execute them automatically. Our KuCoin review covers one such example.
 

Where to Buy Bitcoin - Best Sites To Buy Bitcoin

Here are the best crypto exchanges to check out if you wish to buy crypto today:

Best Sites

Established in 2011, Kraken is a trusted cryptocurrency exchange renowned for its longevity and diverse trading interfaces, catering to a broad user base.

General Information

Year founded: 
2011
Coins Available: 
Bitcoin
Ethereum
Tether
Polkadot
Chainlink
Cardano
Bitcoin Cash
Litecoin
Uniswap
USD Coin
XRP
Aave
Stellar
Tezos
Curve DAO Token
Algorand
Monero
Synthetix
Dai
Filecoin
Compound
EOS
The Graph
Cosmos
Keep Network
ICON
yearn.finance
TRON
Qtum
Dash
Basic Attention Token
Zcash
Kusama
OMG Network
Waves
Nano
Dogecoin
Enzyme
Decentraland
Kava.io
Ethereum Classic
Orchid
Kyber Network
Storj
Siacoin
Lisk
Aragon
PAX Gold
Gnosis
Balancer
tBTC
Augur
0x
1inch
Aavegotchi
Acala Token
Adventure Gold
Akash Network
Alchemix
Alchemy Pay
Alien Worlds
Ambire AdEx
Ampleforth Governance Token
Ankr
APEcoin
API3
Aptos
Arbitrum
ARPA Chain
Astar
Audius
Avalanche
Aventus
Axie Infinity
Badger DAO
Bancor
Band Protocol
BarnBridge
Biconomy
Bifrost
BitDAO
Blur
Bluzelle
BitTorrent Chain
Boba Network
Bonfida
Bonk
r/FortNiteBR Bricks
Cartesi
Celer Network
Celestia
Centrifuge
Chain
Chiliz
Chromia
Civic
Coin98
Convex Finance
COTI
Covalent
Dent
dYdX
Energy Web Token
Enjin Coin
Ethereum Name Service
Euler
Fantom
Fetch.ai
Flare
Flow
Frax Share
Gala
Galxe
Gari Network
GensoKishi Metaverse
Gitcoin
GMX
Green Satoshi Token
Harvest Finance
Hashflow
IDEX
iExec RLC
Immutable
Injective Protocol
Internet Computer
Jasmy
JITO
JUNO
Karura
Keep3r BSC Network
KeeperDAO
KILT Protocol
Kin
LCX
Lido DAO Token
Livepeer
Loopring
Maker
Mango
Marlin
Marinade Staked SOL
Mask Network
Merit Circle
Mina
Mirror Protocol
Moonbeam
Moonriver
r/CryptoCurrency Moons
Multichain
MultiversX
My Neighbor Alice
MXC
NEAR Protocol
Numeraire
NYM
Ocean Protocol
Optimism
Orca
Origin Protocol
OriginTrail
Oxygen
PayPal USD
Pepe
Perpetual Protocol
Phala.Network
PlayDapp
Polkastarter
Polygon
Power Ledger
PYTH Network
Quant
Radicle
Rarible
Raydium
Ren
Render Token
Request
Robonomics.network
Rocket Pool
Rubic
Saber
Samoyedcoin
Secret
Sei
Selfkey
Serum
SHIBA INU
Shiden Network
Solana
Songbird
Spell Token
Stacks
Stafi
Star Atlas
Star Atlas DAO
Stargate Finance
Stella
Step Finance
STEPN
Sui
SuperRare
SuperVerse
SushiSwap
Swipe
Synapse
Terra 2.0
Terra Classic
Terra Classic USD
Terra Virtua Kolect
Tether EURt
The Sandbox
THORChain
Threshold
TrueFi
TrueUSD
Unifi Protocol DAO
UMA
WOO Network
Wrapped Bitcoin
WETH
Yield Guild Games
Altair
Basilisk
Crust Shadow
Genshiro
HydraDX
Integritee
Interlay
Kintsugi
LimeWire
Nodle
Parallel Finance
Picasso
Polygon Ecosystem Token
pSTAKE
Tokemak
Wrapped Axelar
Website Languages: 
Chinese
English
Filipino
French
Italian
Japanese
Portuguese
Russian
Spanish
Turkish
Ukrainian
Vietnamese

Anonymity

As a registered US exchange, Kraken strictly adheres to KYC & AML laws, prohibiting the creation of anonymous accounts and ensuring regulatory compliance.

Reputation

With one of the best reputations in the industry, Kraken holds the distinction of being the only crypto company worldwide to secure an SPDI banking license.

Pros and Cons

Supports hundreds of coins
High liquidity
Simple and user-friendly interface
Good customer support options
Lots of advanced trading features like margin, futures, and indices trading
No insurance fund for assets on the platform
Doesn’t offer a crypto credit card
No personal wallet service for traders
Supports only a few fiat currencies

Huobi Global, established in 2013, is a world-leading crypto trading platform, providing secure and convenient trading services for digital assets.

General Information

Year founded: 
2013
Coins Available: 
Bitcoin
Ethereum
Litecoin
Uniswap
Polkadot
Bitcoin Cash
Chainlink
Bitcoin SV
EOS
XRP
SushiSwap
Tether
Curve DAO Token
BitTorrent
TRON
SUN
Aave
FTX Token
Zcash
Cardano
Huobi Token
Matic Network
JUST
Basis Gold Share
THETA
yearn.finance
Filecoin
Cosmos
Amun Bitcoin 3x Daily Long
OMG Network
Terra
Algorand
Ethereum Classic
Massnet
DFI.Money
1inch
IOST
Nervos Network
Band Protocol
Dash
Amun Ether 3x Daily Long
Tezos
Kusama
Ontology
Reef
Horizen
Stellar
Amun Ether 3x Daily Short
NEAR Protocol
Neo
Badger DAO
The Graph
Synthetix
Qtum
Dogecoin
Phala.Network
Waves
Polkastarter
Compound
Monero
Tellor
Amun Bitcoin 3x Daily Short
WaykiChain
Reserve Rights
NEM
Crypto.com Coin
Bounce Token (Old)
BoringDAO
Kava.io
VeChain
TitanSwap
Akropolis
Solana
Ren
Thunder Token
Marlin
NEST Protocol
IOTA
0x
Pearl
Linear
SKALE Network
Bytom
Aragon
Acute Angle Cloud
ForTube
Avalanche
Zilliqa
Loopring
Value Liquidity
Basic Attention Token
GXChain
Decentraland
BOX Token
Elastos
MXC
Nexo
Swerve
Storj
Tierion
Seele-N
Golff
Whole Network
Achain
Civic
API3
Decred
YAMv2
Maker
YEE
Alchemy Pay
ICON
Dai
Cortex
Arweave
The Sandbox
Loom Network
Injective Protocol
Bluzelle
Crust
Orchid
MCO
BitcoinHD
Meta
IRISnet
Chiliz
Darwinia Network
Lambda
Balancer
ARPA Chain
Bancor
Frontier
Origin Protocol
UnlimitedIP
Bitcoin Cash ABC
UMA
Kyber Network
Wootrade
aelf
Aeternity
USD Coin
Ankr
Nebulas
NXM
Kcash
PowerPool
Huobi Pool Token
Stafi
HyperCash
New BitShares
Hedera Hashgraph
Nsure.Network
Content Value Network
Robonomics.network
Status
MediShares
BitShares
nHBTC
AirSwap
Holo
Fusion
Harmony
SunContract
Arcblock
Firo
MX Token
Eminer
v.systems
dForce
Wrapped Bitcoin
Nano
dHedge DAO
Paxos Standard
BillionHappiness
Enzyme
IoT Chain
Steem
Genaro Network
CyberMiles
Matrix AI Network
Hive
BitKan
QASH
SIRIN LABS Token
Cred
GateToken
Dock
NKN
Ruff
NULS
Wanchain
Golem
Litex
Pundi X (Old)
Intelligent Investment Chain
Bibox Token
Davinci Coin
WAX
InvestDigital
TrueUSD
BitUP Token
DigixDAO
SwftCoin
DATx
Lympo
DATA
Smartshare
Carry
SmartMesh
XMax
U Network
BitCapitalVendor
Origo
BeeKan
Yuan Chain Coin
GET Protocol
YouLive Coin
Global Social Chain
FansTime
FairGame
Waltonchain
Promotion Coin
Atlas Protocol
EMOGI Network
Skrumble Network
dKargo
Engine
Project Pai
renBTC
Verge
Odyssey
Siacoin
pNetwork
CNNS
Game.com
VIDY
UGAS
Lisk
Standard Tokenization Protocol
Utrust
Ravencoin
Chromia
Pivot Token
Time New Bank
DeepBrain Chain
Newton
Komodo
Wirex Token
TOP
AI Doctor
EDUCare
QunQun
Electroneum
Power Ledger
Request
TopChain
EduCoin
Egretia
Propy
ShineChain
Medicalchain
Tripio
Polymath
ChatCoin
Gas
Datum
Metal
Content Neutrality Network
Quantstamp
All Sports
Bitcoin Diamond
STK
Portal
BnkToTheFuture
TenX
CVCoin
MyToken
HitChain
Bitcoin Gold
AppCoins
Raiden Network Token
Ripio Credit Network
SALT
CoinMeet
LinkEye
MEX
OST
sBTC
Globalvillage Ecosystem
WePower
ThingsOperatingSystem
Ardor
Matryx
BitcoinX
Lunyr
Beefy.Finance
Zilla
Phoenix Global
Rate3
DigiByte
Groestlcoin
EchoLink
Everex
Nucleus Vision
COVA
Enigma
NeuroChain
AdEx Network
HUSD

Anonymity

Adhering to global regulatory standards, Huobi Global implements stringent KYC and AML procedures.

Reputation

Huobi Global has earned a solid reputation for its longevity, liquidity, and global reach in over 130 countries.

Pros and Cons

Hundreds of tradeable assets
Lots of advanced trading options and features
Dashboard is advanced, and yet user-friendly
Comprehensive and efficient mobile presence
Innovative and secure wallet
Cumbersome account registration process
Low withdrawal limits
Restricted to USA users
Low leverage for margin trading
No investment programs for passive earnings

OKCoin crypto exchange is a well-established platform providing access to a variety of digital assets for traders globally, with a focus on offering fiat-to-crypto trading pairs.

General Information

Year founded: 
2014
Coins Available: 
Bitcoin
Ethereum
Tether
Dai
Stacks
Bitcoin SV
USD Coin
yearn.finance
Bitcoin Cash
Litecoin
STASIS EURO
Uniswap
Compound
Hedera Hashgraph
Polkadot
TRON
Celo
Ethereum Classic
Celo Dollar
USDK
1inch
Aave
Cardano
Adventure Gold
Algorand
Aragon
APEcoin
API3
Arweave
Astar
Cosmos
Avalanche
Axie Infinity
Badger DAO
Bancor
Blockchain Brawlers
Chiliz
Clover Finance
Crypto.com Coin
Curve DAO Token
Convex Finance
dHedge DAO
DIA
Dogecoin
dYdX
Elrond
Enjin Coin
Ethereum Name Service
Flow
Flare
Ampleforth Governance Token
Fantom
Gala
Aavegotchi
The Graph
Internet Computer
ICON
Immutable
Kadena
Kyber Network
Keep3rV1
Kusama
PlatON
Lido DAO Token
LINK
Livepeer
Loopring
Terra
Terra Classic
MAGIC
Decentraland
Mask Network
Polygon
MetisDAO
Mina
Maker
Numeraire
Harmony
Optimism
Perpetual Protocol
Phala.Network
Ravencoin
The Sandbox
Stader
SHIBA INU
SKALE Network
Smooth Love Potion
Synthetix
Solana
Spell Token
Storj
SushiSwap
Tellor
UMA
Terra Classic USD
WAX
Wrapped Bitcoin
Wing Finance
Stellar
Nano
Tezos
DFI.Money
Zcash
Horizen
Zilliqa
0x

Anonymity

OKCoin enforces KYC verification procedures, mandating users to undergo identity verification to access trading services.

Reputation

OKCoin is recognized for its strong reputation, known for its reliable platform, liquidity, and compliance with regulatory standards.

Pros and Cons

Very low trading fees
Offers advanced trading services and features like futures and margin trading
Very high liquidity
Fiat currency deposits and withdrawals
Top level security
A lower number of cryptocurrencies on offer when compared to other big exchanges
A lower number of crypto pairs on offer
Requires level 2 verification before you can withdraw
Comes only in the English language
Fraudulent insurance claim

Bithumb, established in 2013, is a South Korean cryptocurrency exchange recognized for its significant trading volume.

General Information

Year founded: 
2014
Coins Available: 
Ethereum
Bitcoin
XRP
THETA
Swipe
Anchor Neural World
Hive
MiL.k
Factom
Bitcoin SV
Polkadot
Enjin Coin
Bitcoin Cash
Litecoin
Chainlink
Uniswap
EOS
Cardano
Terra
yearn.finance
Stellar
Qtum
Ethereum Classic
ICON
IOST
TRON
QUEENBEE
NEM
Tezos
Pundi X (Old)
OMG Network
TrustVerse
WaykiChain
Waves
Kyber Network
Loom Network
VeChain
Cred
Zcash
Algorand
AnimalGo
Zilliqa
Cosmos
0x
Metal
The Sandbox
Basic Attention Token
Orbit Chain
SUN
Loopring
The Midas Touch Gold
UMA
Serum
Mirror Protocol
Nestree
Ankr
DAD
Bitcoin Gold
Tachyon Protocol
TEMCO
BORA
BASIC
TrueChain
MXC
PIVX
DragonVein
RING X PLATFORM
Status
FNB Protocol
Crypto.com Coin
BitTorrent
JUST
EFFORCE
QuarkChain
Bitcoin Diamond
Observer
Quiztok
Contentos
WAX
Eminer
Augur
Xensor
All Sports
Aion
Aurora Chain
Proton
WEMIX
Davinci Coin
Lambda
aelf
Dash
Valor Token
Bitcoin Cash ABC
Steem
Power Ledger
ELYSIA
Electric Vehicle Zone
Metadium
v.systems
Precium
Orbs
AMO Coin
MixMarvel
Bezant
FLETA
Function X
Cortex
MovieBloc
Chromia
Waltonchain
GXChain
APIX
CONUN
BOSAGORA
ARPA Chain
Hdac
Multi Channel Influencer Creater Cloud Funding Platform
Stratis
Ontology
Centrality
WeShow Token
CyberVein
Golem
Decentralized Vulnerability Platform
apM Coin
Adappter Token
Origo
SoMee.Social
OneRoot Network
Aeternity
HYCON
WOM Protocol

Anonymity

Adhering to regulatory requirements, Bithumb implements KYC and AML procedures.

Reputation

Bithumb has played a pivotal role in the South Korean crypto market, gaining a reputation for liquidity and reliability. This exchange has great selection of altcoins and high trading volume. 

Pros and Cons

Offers trade in all major coins
Crypto trading bot
Easy to navigate for newbies
Sensible investment portfolios
Top quality customer support service
Very slow account verification process
No referral program
Only for South Korean residents
Supports only KRW as a fiat currency
Not enough information about security

Binance US, launched in 2019, is a prominent cryptocurrency exchange catering to the American market with a wide array of trading pairs and advanced features.

General Information

Year founded: 
2019
Coins Available: 
Tether
Ethereum
Bitcoin
Cardano
Chainlink
Uniswap
XRP
VeChain
Binance USD
Matic Network
Litecoin
Stellar
Algorand
Compound
Elrond
Tezos
Zilliqa
Hedera Hashgraph
Binance Coin
Maker
Solana
USD Coin
ICON
Bitcoin Cash
Horizen
OMG Network
Helium
Band Protocol
IOTA
EOS
Cosmos
Basic Attention Token
Nano
Neo
Dash
Decentraland
Dogecoin
VeThor Token
Zcash
Kyber Network
Waves
0x
Harmony
Orchid
Qtum
Dai
Ontology
Ravencoin
Ethereum Classic
Augur
Storj
PAX Gold
Polygon
Polkadot
SHIBA INU
TRON
Avalanche
Filecoin
Aptos
Lido DAO Token
TrueUSD
NEAR Protocol
Quant
Internet Computer
APEcoin
The Graph
Fantom
Aave
MultiversX
Flow
Immutable
THETA
Axie Infinity
The Sandbox
Optimism
Curve DAO Token
Synthetix
Render Token
Loopring
Mask Network
Threshold
Kava Lend
Ankr
Balancer
yearn.finance
Fetch.ai
Celo
1inch
Enjin Coin
Theta Fuel
Gala
Astar
Kusama
Ethereum Name Service
Audius
SushiSwap
Golem
Kadena
Ocean Protocol
Biconomy
Alchemy Pay
FLUX
Livepeer
SKALE Network
WAX
Celer Network
Illuvium
DigiByte
Lisk
API3
Syscoin
Gitcoin
Stargate Finance
Smooth Love Potion
Ren
Numeraire
Polymesh
Request
Galxe
Cartesi
Radicle
Aragon
Bancor Network Token
Prometeus
COTI
Marlin
Spell Token
My Neighbor Alice
Loom Network
Alien Worlds
Reef
StormX
Mines of Dalarnia
Origin Protocol
Ampleforth Governance Token
LTO Network
SuperRare
League of Kingdoms Arena
DIA
BarnBridge
Clover Finance
Voxies
Alpine F1 Team Fan Token
VITE
Santos FC Fan Token
FC Porto Fan Token
Oasis Network
MIOTA
iExec RLC
Lazio Fan Token

Anonymity

In adherence to US regulations, Binance US implements robust KYC and AML procedures, requiring users to undergo identity verification and ensuring compliance with legal standards.

Reputation

Binance US has established a reputable presence in the American crypto landscape. It's known for its reliability, regulatory compliance, and commitment to providing a secure trading environment.

Pros and Cons

Very low trading fees
Lots of educational resources available
So fast that it processes 1.4 million orders per second
High liquidity to customers
Attention to security, and constant innovation
Not available in some US states
Fewer crypto to crypto pairs than other exchanges
Lengthy identity verification process
Parent company was hacked in 2019
Limited selection of crypto assets

DisclaimerThe information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.
 

How to Buy Bitcoin Today

Buying it online is the fastest and the best way to own Bitcoin. You can use your credit or debit cards on multiple platforms. Here are the most common methods:
 

  • Centralized crypto exchanges (CEXs) - safest places to buy BTC
  • Payment apps (PayPal, Venmo, Cash App) - best places to buy BTC
  • Crypto wallets (mobile apps) - quickest ways to buy BTC

Here’s a detailed overview of each method.
 
 

Safest Way to Buy Bitcoin - Centralized Crypto Exchanges

Centralized cryptocurrency exchanges provide the most secure way to buy Bitcoin. Here’s how to get started.
 

1. Research and Choose an Exchange

Begin by researching reputable cryptocurrency exchanges – check out our toplist. 

Consider security features, transaction fees, supported payment methods, and user reviews. 

The safest crypto exchanges enforce the use of two-factor authentication (2FA), Secure Socket Layer (SSL, the little locker next to the web address), and Anti-Money Laundering procedures.

While their fees differ, CEXs support various payment methods. You can use bank transfers, debit/credit cards, crypto, PayPal, Apple Pay, Google Pay, etc.

Read user reviews on Trustpilot to see what others think about the exchange. Those reviews can help you decide on the right one. 

Finally, the crypto exchange should be transparent about how it runs a business, especially regarding finance, security breaches, and liabilities. 

One such example is Uphold, which has been dedicated to transparency since 2014.
 

2. Create an Account and Verify ID

Sign up for an account on your selected exchange. Prepare your government-issued ID and proof of address for ID verification. 

This is a common, mandatory process on centralized exchanges since they need to follow Know Your Customer (KYC) procedures. 

Verification usually lasts for several minutes. During that time, you’ll use your smartphone to follow instructions – for example, hold and scan your ID document.

Plus, passing this ID will lift all limitations on your account. Once you pass it, you can deposit/withdraw any amount and utilize all investing features.
 

3. Deposit Funds

Once you’ve verified your account, you can deposit funds. Exchanges offer several deposit methods. The fastest one is via credit/debit cards and, sometimes, altcoins like Ripple (XRP)

You can also use bank transfers, or payment systems like PayPal. Still, note that some exchanges may not accept PayPal and similar platforms.
 

4. Place an Order

Now is the time to conduct your purchase. You can buy Bitcoin via the instant buy option or on the trading section of the exchange. 

Instant buy is an immediate transaction. You’ll buy BTC at its current price and get it in your wallet within minutes. This is similar to spot trading, only you’re not trading with trading pairs.

However, if you navigate to the trading section, you’ll see available trading pairs and several trading features, like:
 

  • Margin 
  • Options 
  • Spot 
  • Futures 

Some exchanges also offer trading bots. These can help you copy successful trades and execute them automatically. Our KuCoin review covers one such example.
 

Pros & Cons of Crypto Exchanges

Here are some pros and cons of using crypto exchanges to invest.

 

Crypto Exchanges - Pros and Cons

Pros

Cons

Offer a secure, user-friendly environment

Remain vulnerable to hacking attacks

Have enough liquidity to support your trades

Users don’t control their private keys

Provide educational materials

May experience downtime or disruptions due to maintenance

Support various trading and buying options

May be susceptible to insider trading 

Allow deposits/withdrawal of fiat currencies 

 

 

Key Points to Know

Centralized crypto exchanges need to follow specific regulations, which involve mandatory Know Your Customer verification. 

Some crypto investors dislike the idea that the exchange has their private data. Still, this is necessary for a secure trading environment. 

If you don’t want to verify your identity, you check out the best decentralized exchanges, but they come with another set of challenges.

Since they use smart contracts to execute transactions, decentralized exchanges may be harder to use. The smart contracts may contain a vulnerability, and there may not be customer support to assist.

Centralized exchanges will hold your funds, and have control over your private keys, but still offer strong security protocols. Some even offer insurance for your funds.
 
 

Easiest Way to Buy Bitcoin - Payment Apps

Payment apps like PayPal, Venmo, and Cash App are familiar, secure, and accessible. Besides CEXs, they’re the best ways to buy Bitcoin. 
 

Steps To Take On Paypal (Web & App)

Here’s how to buy Bitcoin and crypto on PayPal web:
 

  • Head to Finances
  • Click Buy
  • Choose a crypto
  • Select the amount and frequency (Daily, Weekly, Biweekly, or Monthly.)
  • Select a payment method 
  • Tap Next
  • Click Buy Now

Here’s how to buy it on the mobile app:
 

  • Click Finances
  • Tap Crypto
  • Click Buy
  • Select an amount and frequency (Daily, Weekly, Biweekly, or Monthly.)
  • Confirm your amount
  • Tap Next
  • Choose a payment method
  • Click Next
  • Click Authorize and Schedule

 

Steps To Take On Venmo

Here’s how to buy BTC and crypto on Venmo:
 

  • Head to the Crypto tab
  • Pick your preferred cryptocurrency 
  • Enter the amount for your purchase
  • Click Review 
  • The app will show a breakdown of how much of the crypto you’re about to buy, plus fees 
  • Tap Buy

 

Steps To Take On Cash App

Here’s how to buy BTC on Cash App:
 

  • Make an account and connect your payment method
  • Follow instructions to pass KYC
  • Answer the questions related to your source of income
  • Deposit funds from the Add Cash on the Money home screen
  • Select the Bitcoin tile on the Money home section
  • Click Buy Bitcoin
  • Enter the amount
  • Check and confirm the purchase

 

Pros & Cons of Payment Apps

Here are pros and cons of using payment apps. 
 

Payment Apps - Pros and Cons

Pros

Cons

Give instant access to crypto

Limited offer of coins

The interface is familiar and easy to use

Limited control of holdings

Robust security measures 

Withdrawal restrictions

Fiat conversions

High fees

Merchant integrations

 

 

Key Points to Know

These payment processors are handy to use and let you invest in crypto for as low as $1. They’re great for diversifying your holdings and testing out how crypto works.

However, some of these apps won’t let you withdraw crypto from that wallet to a personal one.

This also means you won’t be able to move it to an exchange and trade it there. Some users find this limitation stressful.  

There’s also a very evident lack of altcoin support, as these platforms focus only on major cryptocurrencies. 

If you’re looking for a wider selection of altcoins besides Ethereum, CEXs are a better option.
 
 

Fastest Way to Buy Bitcoin - Crypto Wallets

Crypto wallets like Crypto.com offer a straightforward way to buy Bitcoin and crypto.
 

1. Choose a Digital Wallet

When it comes to digital wallets, you can choose between desktop clients and mobile apps. 

Some hardware wallets also connect to a software application, and give you access to digital features – check out our Ledger review for info.

Consider the security of the app, the device you’ll use, and the wallet’s reputation. 

In general, the longer the wallet has been out there, the safer it may be.

Remember, you’ll still have all the control over your private keys, wallet files, and seed phrases.

If you already have a favorite exchange, check if it offers a mobile app. For example, Gemini brings in additional trading features to your smartphone. 
 

2. Create or Access Your Wallet

If you’re creating a wallet from scratch, prepare to write down the seed phrase (Secret Recovery Phrase, mnemonic). 

This is the most common security feature of a wallet. This set of 12 or 24 words will help you restore your wallet on another device and gain access to your funds.

You will be presented with these words during the creation of your wallet. 

Then, you’ll have the option to set a password or secure a wallet in another way, like with two-factor authentication on Google. 

A wallet may also require a PIN code for access. You will set it up during wallet creation.

Some software wallets (like MyEtherWallet) may also provide you with a UTC file (keystore file) which you should save and secure on your devices. You will use it to restore your wallet.

Once you’re done with wallet creation, you can access the interface. 

Depending on the app you selected, you may see several options:
 

  • Portfolio tracking
  • USD/EUR balance
  • Swap feature
  • NFTs
  • Staking
  • Fiat onramps
  • Rewards, etc

Once you’re done exploring the app, you can proceed to purchase Bitcoin.
 

3. Initiate Bitcoin Purchase

Most crypto wallets will let you purchase BTC instantly with a credit or a debit card. 

All you have to do is locate the fiat onramp section or click the Buy button.

There, you can connect your payment method, enter the amount you wish to purchase, and follow the steps to buy Bitcoin.

Some wallets will use a third-party payment processor (like Banxa) which may require your ID verification. 

Confirm the amount you wish to spend and finish the purchase.

Once you finalize all the steps, you can expect to see Bitcoin in your wallet in up to 30 minutes. 

Don’t panic if it takes some time. Bitcoin transactions are a little slower compared to other cryptos, as it takes miners more time to verify transactions.

Once your purchase is complete, you can send the transaction records to your email and store them there for future reference or tax filing.
 

Pros & Cons of Digital Wallets

Here are pros and cons of using digital wallets.
 

Digital Crypto Wallets - Pros and Cons

Pros

Cons

Handy for trading

Security risks

Packed with features

Internet dependency 

Connected to crypto debit cards

Privacy concerns

Full control over private keys

Limited customer support

Easy recovery options

 

 

Key Points to Know

Just like exchanges, software wallets come with certain fees. These may include:
 

  • Transaction fees
  • Conversion fees
  • Deposit or withdrawal fees
  • Subscription fees
  • Inactivity fees

However, they come with convenient swap options, where you can easily exchange one coin for another. This is a great feature for beginners who would find centralized exchanges overwhelming. 

Software wallets are also packed with features. 

Some double as crypto lending platforms and crypto savings accounts. You might see wallets that offer crypto loans together with crypto debit cards, just like Nexo.

Unfortunately, there are some issues and limitations to consider.

While mobile apps are great for trading on the go, you risk losing your smartphone or accidentally deleting the app. One software update might make your device laggy and cause issues with your wallet.

Desktop applications are always connected to the internet and if your device gets hacked, your wallet is in danger.

Plus, mobile wallets often bring in the basic features. If you’re looking to trade, you’ll have to download an exchange app for all the trading tools.
 
 

Alternative Ways To Buy Bitcoin

Besides centralized crypto exchanges, payment apps, and crypto wallets, you can buy Bitcoin in some of the following alternative ways.
 

BTC ETF

A Bitcoin exchange-traded fund (ETF) is a financial product that allows you to gain exposure to Bitcoin without directly owning the asset.

A Bitcoin ETF works like a traditional ETF. It holds Bitcoin as the underlying asset and issues shares that represent ownership in the fund. 

You can buy and sell these shares on stock exchanges like you would with stocks.

Bitcoin ETFs require regulatory approval from government authorities, such as the U.S. Securities and Exchange Commission (SEC) in the United States. 

The SEC has been cautious about approving Bitcoin ETFs. There are concerns about market manipulation, custody, and investor protection.
 

Bitcoin ATMs

Bitcoin ATMs, also known as BTMs or Bitcoin kiosks, are physical machines that let you buy Bitcoin with credit/debit cards or cash. 

It includes buying Bitcoin with cash, selling Bitcoin for cash, and transferring Bitcoin to or from a digital wallet. 

Some ATMs also support other cryptocurrencies beyond Bitcoin.

Bitcoin ATMs are typically located in public places such as shopping malls, convenience stores, cafes, and airports.

These ATMs may require you to verify your identity through government-issued identification.
 

Bitcoin Futures Contracts

A Bitcoin futures contract is a standardized agreement to buy or sell a specified amount of Bitcoin at a predetermined price on a future date. 

These contracts are traded on regulated futures exchanges. They are settled in cash rather than physical delivery of Bitcoin.

If you're looking for the best trading platforms with leverage, find those that offer futures trading.

Futures contracts can also be used as a hedge.

Bitcoin futures trading is regulated by government authorities such as the Commodity Futures Trading Commission (CFTC) 
 

Over-the-Counter (OTC) Markets

OTC markets involve trading outside of traditional exchanges. 

These platforms let buyers and sellers execute large trades or negotiate customized terms privately. 

Trades are typically conducted through broker-dealers or OTC trading desks, either electronically or over the phone.

OTC markets are geared toward institutional investors, cryptocurrency miners, and high-net-worth individuals. 

If you wish to invest a larger amount, OTC markets might be the right place for you.
 

Gift Cards

Bitcoin gift cards are available for purchase online or at select retail locations.

You can buy a gift card with fiat currency and receive a unique code or QR code that represents a specific amount of Bitcoin.

To redeem, enter the code or scan the QR code using a compatible cryptocurrency wallet or exchange platform. 

The corresponding amount of Bitcoin will then be credited to your wallet or account.
 
 

Can I get Bitcoin for Free?

Besides buying Bitcoin, you can also get it for free. The first option is to grab the bonus some exchanges offer upon registering.

Bonuses are not a common occurrence, but you can still check our toplist for more information. 

The other way to get some parts of Bitcoin (satoshis) is to look for BTC faucets or airdrops.

Bitcoin faucets are websites or applications that reward users with small amounts of Bitcoin (or other cryptocurrencies) for completing tasks or activities. 

Airdrops are usually done by new projects. If you participate in a drop, you could get an altcoin you might be able to swap for BTC (like Shiba Inu).

Unfortunately, the amount of BTC you can get on these is low. You shouldn’t expect significant profits.

You can also earn some free Bitcoin or another crypto by lending or staking your current holdings. 

Staking involves actively participating in a blockchain network by holding and "staking" a certain amount of cryptocurrency to support the network's operations and validate transactions.

Lending involves loaning out cryptocurrency to borrowers in exchange for interest payments. 

Finally, there are crypto debit cards, which could pay rewards and cashback in crypto whenever you spend some.
 
 

How to Store Bitcoin

Once you buy some Bitcoin, it’s time to decide how you’ll store it. You can select hot wallets or cold wallets.
 

Hot Wallet Storage

Hot wallets are digital wallets connected to the internet. These wallets allow convenient and fast transactions. 

They are suitable for individuals who engage in frequent trading or spending and need constant connection with a trading interface. 

However hot wallets are more susceptible to hacking and cyber threats. 

You have to pay attention to securing such wallets and utilize all available tools to keep your funds safe.

Some of the examples of hot wallets include wallets on exchanges like Coinbase, Binance, or Kraken.

Using a hot wallet means you should pay attention to your passwords, use two-factor authentication, and secure internet connection.
 

Cold Wallet Storage

In contrast, cold wallets offer enhanced security by storing Bitcoin offline. 

These offline storage solutions protect against common online attacks. 

Cold wallets are ideal for long-term storage of large amounts of Bitcoin. They minimize the risk of unauthorized access and theft.

Using cold wallets means you should focus on the physical security of the wallet, firmware updates, and offline setup.
 
 

I’ve Stored My Bitcoin - Now What?

Now that you've securely stored your Bitcoin, it's time to consider your next steps. You have several options, including:
 

1. HODL Your Bitcoin

HODLing, a term derived from a misspelling of "hold." It refers to the strategy of holding onto your Bitcoin investment for an extended period, regardless of short-term market fluctuations. 

This approach is based on the belief that Bitcoin's long-term value will continue to increase over time.
 

2. Start Trading Your Bitcoin

Another option is to venture into trading BTC. Select the exchange with enough trading features to help you establish your trading strategy.

You can go with:

  • Day trading
  • Swing
  • Arbitrage
  • Leverage tradings
  • Algorithmic trading, etc

Remember, trading can be stressful and requires proper risk management habits. 
 

3. Sell it Once You’ve Made a Profit

Bitcoin has certain cycles which repeat every four years, before and after halving. These cycles aren’t always completely the same, but you can use some references to decide when to sell.

Historically, the price of BTC may increase with every halving. This would be the moment to sell if you see gains in your portfolio. 

However, deciding when to sell can be challenging and requires careful consideration. 

Here are some tips for determining the safest time to sell:
 

  • Establish clear financial goals and objectives for your Bitcoin investment
  • Stay informed about market trends and developments
  • Consider setting stop-loss orders to automatically sell your Bitcoin if its price falls below a certain predetermined level 
  • Consider reallocating profits from Bitcoin to other investments to maintain a diversified portfolio
  • Consider consulting with a financial advisor or cryptocurrency expert for personalized advice and recommendations

Keep in mind that these may not work every time. Each cycle is different in its own way, so you should adjust your expectations and plans accordingly.
 

 

Safety Precaution Tips When Buying Bitcoin

No matter where you’re buying your Bitcoin, always make sure to do the following for safety:
 

  • Use Reliable Merchants. Stick to reputable exchanges or platforms with a proven track record of security and reliability.
  • Enable 2FA. Add an extra layer of security to your accounts by enabling two-factor authentication (2FA)
  • Secure Your Wallet. Store your Bitcoin in a secure, hardware wallet with strong encryption and security features
  • Use Strong Passwords. Create strong, unique passwords for your accounts
  • Avoid Public Wi-Fi. Avoid accessing cryptocurrency accounts or making transactions over public Wi-Fi networks
  • Verify the SSL Security of the Site. Ensure that the website where you're buying Bitcoin has a valid SSL certificate 
  • Diversify Your Cryptocurrency Holdings.  Spread your portfolio on multiple wallets and exchanges to spread risk and minimize potential losses in case of security breaches or hacks
  • Set Your Risk/Reward Ratios. Establish clear risk and reward ratios for your investments, determining how much you're willing to risk for potential returns and setting stop-loss orders to limit losses                                    

 

How To Pay Taxes On Bitcoin?

Taxes for crypto depend on your location. In general, most governments see Bitcoin gains as capital gains. 

In some cases, even swapping Bitcoin for altcoins and vice versa can be a taxable event. 

Luckily, your crypto exchange might have an educational section to teach you all you need to know in your location. 

If you’re in the UK, visit some of the best crypto exchanges in the UK for info.

If you’re in Canada, the best crypto exchanges in Canada might have instructions on how to pay taxes there. 

 

 
 

Conclusion - How to Buy Bitcoin

Learning how to buy Bitcoin involves taking the time to select what suits you. 

If you’re looking for the most secure way to buy BTC, go for centralized exchanges. They’re established, offer customer support, and you can use them for trading.

If you’re looking to dip your toes and explore what crypto has to offer, consider PayPal, Cash App, or Venmo apps. Still, keep in mind that you’ll likely have to store your Bitcoin there.

Finally, check out some of the best crypto wallet apps and enjoy the crypto on the go, various payment options, and cool features like staking.

Remember to explore how to pay your taxes and store your crypto in a secure offline wallet, away from hackers.
 
 

Why Trust Us?

At CryptoManiaks, we thoroughly research the platforms where we buy Bitcoin. Our team digs deep to make sure the info we give is accurate, current, and helpful. 

We're honest and fair, focusing on what's best for users, whether they're newbies or seasoned crypto investors.

Whether you're looking into the safest, easiest, or fastest way to buy Bitcoin, count on CryptoManiaks for reliable and user-friendly info.

Frequently Asked Questions

What Is Bitcoin And How Does It Work?

Bitcoin is a decentralized digital currency that operates on a peer-to-peer network, allowing users to send and receive payments without the need for intermediaries like banks. It's based on blockchain technology and is known for its limited supply and decentralized nature.

What Are The Risks Involved In Buying Bitcoin?

Bitcoin's volatility, security threats, regulatory uncertainty, and lack of regulation pose risks to investors. Security concerns include cyberattacks and scams. Regulatory changes can impact Bitcoin's legality and value.

How To Choose A Bitcoin Wallet?

I would suggest prioritizing wallets with strong security features. Look for 2FA, encryption, and multisignature capabilities, easy UIs, device compatibility, and backup options. Consider ease of use and compatibility with your device. Backup and recovery options like seed phrases are essential for safeguarding your funds.

Can I Buy Fractional Amounts Of Bitcoin?

Yes, Bitcoin is divisible, allowing users to buy and hold fractional amounts of the cryptocurrency. Even if you can't afford a whole Bitcoin, you can purchase fractions of it, such as 0.01 BTC or even smaller denominations known as satoshis.

Is It Safe To Buy Bitcoin Online?

Buying Bitcoin online can be safe if you use reputable cryptocurrency exchanges and follow best security practices. Ensure the exchange is secure, enable two-factor authentication (2FA), and only use secure internet connections to protect your investment.

How can I buy Bitcoin with cash?

You can buy Bitcoin with cash through peer-to-peer platforms like or Bitcoin ATMs. Alternatively, you can use cash deposit services offered by certain cryptocurrency exchanges, depositing cash into the exchange's bank account to receive Bitcoin in return.

Written by

When Mileva invested in Bitcoin at the end of 2017, she never believed she’d end up becoming so focused on fintech. Still, cryptocurrencies have become her passion and she decided to take it up a notch. She navigates the realms of gambling, fintech, and the written word with ease and loves every minute of it. When she’s not working, she spends her time on CryptoPanic, planning her next move, cooking, baking, or working in her garden. She also plays Texas Hold 'em with a passion. 

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