Before discussing today’s topic which is Best Sites To buy Bitcoin at Cheap and affordable rates, for easy Understanding, we gonna write a brief overview of what Bitcoin means.
Because it is highly advisable to first consider what Bitcoin means before having thoughts how, and where to buy Bitcoin
Without much waste of time,
A brief overview of Bitcoin
Bitcoin was Created in 2009 by an individual or a group known as Satoshi Nakamoto, Bitcoin (BTC for short) is a decentralized digital currency that runs on a global peer-to-peer network called the Blockchain. Bitcoin,as with other cryptocurrencies,offers a cheaper way of transferring money since there is no central authority and can be transferred directly between users without a middleman.
According to Bitcoin’s official website- bitcoin.org, Bitcoin was described as an innovative payment network and a new kind of money.
Digital currencies like bitcoin are called cryptocurrencies since they are kept secure using cryptography. As a digital currency, bitcoin is kept in digital wallets.A cryptocurrency wallet consists of a public address and a private key (or the password).
The public address is what the owner can use to receive bitcoins;it is recorded on the blockchain network and can be seen by everyone.
When someone wants to send you some bitcoin,they send it to your public address,and the transaction will be verified and recorded on the blockchain network,and everyone can see it. To access the bitcoin in your wallet,you will use your private key to log into the wallet.
Reasons why people trade Bitcoin?
Bitcoin and other crypto-assets are traded as securities on cryptocurrency exchanges.Being the first cryptocurrency to emerge and the largest by market capitalization, Bitcoin is the most highly traded crypto coin,and here’s why people trade it:
Huge volatility:As with other crypto assets,Bitcoin is known for its high volatility.It is not uncommon for the coin to make a double-digit move in a day.For experienced traders, the high volatility provides an opportunity for making huge profits.
More liquidity:Compared to other crypto coins and tokens,Bitcoin has adequate liquidity to absorb huge orders.Its average daily trading volume is one of the highest.
Flexible trading hours:The Bitcoin market is open 24/7.People enjoy the fact that they can trade at any time they want,including the weekends.
The ability to go long or short: Bitcoin futures offer traders the ability to trade in either direction:go long or go short.
Top Sites To Buy Bitcoin at Cheap rate
1.Coinbase is an online crypto exchange platform that can be utilized for purchasing,selling, transferring,and storing cryptocurrencies.This crypto trading platform supports more than 100 countries.
Advantages Of Buying Bitcoin from Coinbase platform
It has More than 68 million verified users
It allows you to schedule your currency trading on a daily, weekly, or monthly basis.
You can easily store a wide range of crypto assets in offline storage
Coinbase stores your funds in a vault for safety purposes.
Support for a large number of crypto currencies
Supported platforms: Web, iOS, and Android.
Deposit Method: Bank transfer (ACH), Credit card, Debit card, ACH transfer, and Wire transfer.
Supported Fiat Currencies: USD, EUR, AUD, GBP, HKD, INR, etc
Fees and Limits: Instant Card Withdrawal fee: Up to 1.5% of the transaction plus a minimum of $0.55.
Account Minimum: $2
2.Coinmama is one of the best cryptocurrency platforms that allows you to buy cryptocurrencies with your credit card or debit card. This bitcoin exchange provides instant delivery of your coins.
Advantages of Buying Bitcoin from Coinmama
In summary,Instant order delivery
Transfer to any crypto wallet
Numerous funding options
It is one of the best crypto platforms which provides fast verification process of your account.
Coinmama is one of the best cryptocurrency exchanges that offer 24/7-hour support.
Provide fast account setup and verification.
Deposit Method:Fedwire, SWIFT
Fees and Limits: Maker 2.86% – and 3.81% taker fee.
Account Minimum: $0
3.Cex.io is a crypto trading exchange that allows you to buy and sell Bitcoins. It helps you to deposit funds using Master, Visa card, or PayPal Debit MasterCard. It offers protection against DDOS (Distributed Denial-of-Service) attacks by giving full data encryption
Advantages Of Buying from Cex.io
In summary,
It allows you to trade bitcoin more than 10x leverage without creating a new account.
It allows you to buy bitcoin with a debit card without any id verification process.
Supported platforms: Mobile and web.
Deposit Method: Credit and Debit cards, ACH, Faster Payments, Skrill, Qiwi.
Fees and Limits: 0-0.16% Maker fees and 0.10-0.25% Taker fees.
Verification: It allows you to buy bitcoin with a debit card without any id verification process.
Account Minimum: $0
4.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 20 million users on their platform. Simply put, when looking for where to buy bitcoin — eToro is one of the best.
Advantages Of Buying Bitcoin from etoro
In summary, etoro is Well established: eToro was founded in 2007
eToro is regulated by the Financial Conduct Authority (FCA)
Many deposit methods.Deposits can be made via debit card, bank transfer, Paypal, Skrill, and more
Low fees. All deposits are free and you only pay a 0.75% spread when buying Bitcoin
Many cryptocurrencies.There are 27 coins available for purchasing and trading
5.BitBuyThe number of decent Bitcoin-investing platforms available to Canadians is fairly limited as most international platforms do not welcome Canadians or do not offer them the same amenities as other platforms. So what is the best exchange to buy bitcoin in Canada?
BitBuy is probably the best way to buy Bitcoin for Canadian residents. Founded in 2013, they offer a great user experience as well as reasonable fees.
What to watch out when looking for the cheapest way to buy BTC?
Here are some of the cheapest ways to buy BTC:
You need to make sure that you choose an exchange with a good reputation and adequate customer support.
You should also check out the fees associated with each exchange before choosing one.
It is important that you should compare at least three or four different sites before making your final decision on which exchange to use.
If possible,it is always good to get in touch with customers who have used this particular exchange in order to get their opinion on how easy it was to sign up and how much they paid for their transaction.
The more satisfied customers are,the better chance you have of getting them as clients when signing up yourself!
What is the Cheapest Method to buy Bitcoin?
The cheapest technique to buy Bitcoin is to buy it from someone at the current exchange rate. This helps you to avoid transaction fees. Example Binance P2P
If you are not able to trust this method,then you should opt for trusted crypto exchanges that also takes small transaction fees.
How can I buy Bitcoins without fees?
There are many places to buy Bitcoins without fees. One of the easiest ways is to use a Bitcoin ATM or visit one of the local exchanges. Another way is to find someone in your community who wants to sell their Bitcoins and trade with them
What are payment methods for buying bitcoin?
Here are Payment Methods that help you to carry your Bitcoin transactions:
Credit/Debit Card:
Investing in Bitcoin using a credit card is surely easy and fast as you don’t leave your house. The transaction process is very easy and effective. However, in this method, you should keep in mind the amount you can buy is quite low and the fees are high too.
PayPal
Paypal is the easiest way to buy Bitcoin, even easier than your credit card. The charges are high.
Bank transfers
This method is a little bit slow, but the amount you can buy is quite high. The fees are also very low, especially on exchanges. This is certainly one of the best methods to buy bitcoin cheaply.
Cash
Cash transactions are only way to buy Bitcoin anonymously.Credit cards and bank accounts are linked to your identity. Cash transactions aren’t.Using cash on a Bitcoin ATM is relatively quick and easy. So, one can buy from LocalBitcoins, the most popular anonymous way to buy Bitcoin.
If you want to learn basics to advanced concepts about Blockchain Technology, here’s a free tutorial you’ll want to check out: Cryptocurrency Tutorial for Beginners
Is free Bitcoin legal and legit?
Yes,free Bitcoin is a completely legal and legit way to earn Bitcoins. It is a method of payment for using or consuming specific services. Here, should only remember that you will get a very small portion of Bitcoin called Satoshi.