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How to Buy Bitcoin Securely - Beginner’s Guide

How to Buy Bitcoin Securely - Beginner’s Guide

You should be able to acquire Bitcoin from the comfort of your own home in little more than 10 minutes. Open a Bitcoin trading account with a regulated Bitcoin broker, deposit funds, and set your stake.

We hope this article will help you get started in the process of buying and selling Bitcoin.

A Quick and Safe Guide to Purchasing Bitcoin

You can learn how to buy Bitcoin in the United States right now by following the quickfire guide below. With eToro, an SEC-registered broker, we'll walk you through the necessary steps to make a $10 Bitcoin buy.

  • Step 1: In order to get started with eToro, click the 'Join Now' button and fill out your personal information as required.
  • Step 2: At eToro, you can deposit US dollars for free with a minimum deposit of $10. Debit/credit cards and electronic wallets can both be used to make a deposit.
  • Step 3: Enter "Bitcoin" in the search box and press the "Trade" button to proceed to the next step.
  • Step 4: Click 'Open Trade' after entering the total amount you wish to invest in Bitcoin. eToro will debit your cash balance and add your newly purchased Bitcoin tokens to your portfolio as soon as you confirm your transaction.

Where to Buy Bitcoins

Dozens of cryptocurrency trading sites accept instant payments if you're unsure where to buy Bitcoin online.

To be on the safe side, check to see if the platform in issue is regulated by an established financial institution and how much it costs for its services.

Consider the four platforms listed below when determining where to buy Bitcoin now.

1. eToro – The Best Place to Invest in Bitcoin in 2022 – Overall

Over 20 million people use eToro, a prominent financial site that was founded in 2007. In addition, the platform is regulated by the Securities and Exchange Commission, the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission. In less than five minutes, you can open an account and make a deposit using a debit/credit card, an ACH transfer, or a bank wire. All USD deposits are fee-free, and e-wallets are also supported. Sandbox, for example, may be purchased on eToro for a reasonable spread.

As a result, eToro is a great place to buy Bitcoin using fiat money at a low cost. The spread is the difference between the bid and ask prices, and it can only be used to acquire cryptocurrencies after you have made a deposit. Just 0.75 percent is required to get started.

eToro has more than 40 marketplaces where you can invest in cryptocurrencies other than Bitcoin. This implies that you can buy Solana, Binance Coin, Ethereum, Dogecoin, Axie Infinity, AAVE, Decentraland, Quant, Litecoin, the Graph, Cardano, Polkadot, and many other cryptocurrencies, including Solana and Binance Coin.

If you want to invest in digital tokens, eToro offers a cryptocurrency-focused Smart Portfolio that includes a wide range of digital tokens. In addition, you can use the Copy Trading function to automatically follow the trades of experienced eToro Bitcoin traders. As a US customer, you can deposit as little as $10 into your account. The smallest quantity of Bitcoin you can purchase is $10.

2. Coinbase - a good place for beginners to buy bitcoin

If you're looking for an easy way to acquire Bitcoin, Coinbase is a top-rated, user-friendly broker situated in the United States. Coinbase's user-friendly design makes it simple to sign up for an account. Once your identity has been validated, you will be able to make free ACH transfers.

A 1.49 percent transaction fee will be charged when the money is deposited into your Coinbase account. Coinbase charges a commission of approximately 4% if you use a debit or credit card to acquire Bitcoin, even if this is considered pricey. It's possible to acquire Bitcoin right away with this option, however. If you're looking to diversify your digital currency portfolio, there are plenty of options outside Coinbase.

Bitcoin tokens can also be stored on Coinbase, which is an excellent choice. All users must pass a two-step verification process before they may log in to the platform. It's also worth noting that 98 percent of all client funds are stored in cold wallets, and any attempt to log in from a new device or IP address requires additional verification.

This means you can buy Ethereum, Dogecoin and other popular altcoins from your smartphone using Coinbase's extensive choice of digital assets.

3. Binance - A well-known Bitcoin exchange with over 60 markets

Binance was founded in 2017 and is a cryptocurrency exchange. More than 100 million users use the platform every day, facilitating trades worth billions of dollars. Binance accepts deposits made using US debit or credit cards for purchasing Bitcoin. However, you will be charged a 4.5 percent transaction fee, which is a hefty price to pay.

In addition, a 0.5 percent buy fee will be applied when you use your deposited funds to acquire Bitcoin. There is a 0.10 percent spot trading commission on the Binance main market. If you're looking to trade crypto-to-crypto pairs, Binance is a nice alternative to consider.

The Binance platform in the United States supports more than 60 markets. Digital tokens from both large and mid-cap projects are included in this list. Binance provides over-the-counter services and an advanced trading platform with more advanced tools and research features for seasoned investors.

4. Webull – Buy Bitcoin For $1

Investing in stocks, ETFs, options, and cryptocurrencies has never been easier than it is with Webull, a platform created specifically for US-based investors. You may open an account in only a few minutes, regardless of whether you desire to trade online or using the Webull crypto trading app. Before you can acquire Bitcoin, you'll need to transfer money via ACH or bank wire, as debit/credit cards and e-wallets are not accepted.

Traditional trading commissions are not charged by Webull. However, spreads of 1% or more will have to be taken into account. However, one of Webull's most notable features is the ability to purchase Bitcoin for as little as $1. Webull's other cryptocurrencies are the same way.

For starters, there is no minimum deposit required when you open an account here. A number of Individual Retirement Accounts (IRAs) are supported by Webull, making it an excellent choice for saving for retirement. Finally, as long as your account balance is at least $2,000, Webull will let you trade on margin.