Bitcoin, the most popular cryptocurrency invented by Satoshi Nakamoto is of inherent value today. Nowadays, several exchanges list the crypto on their platforms for sale. However, cheaply buying Bitcoin is of advantage to a potential customer. So, what exchange platforms offer Bitcoin for sales in a cheap way? Let’s find out in this article. Before, let’s find out some criteria to consider when buying Bitcoin.
CRITERIA TO CONSIDER WHEN BUYING BITCOIN
Different exchanges charge a certain fee when selling Bitcoin. Besides, you have to find out if they accept your currency. For instance, sites that accept US Dollars will charge you a conversion fee if you transfer GBP. It is therefore important to consider the one suitable for your needs.
Liquidity is a crucial factor when choosing an exchange. Liquidity refers to the amount of Bitcoin an exchange site can sell considering the changes in price movement. The liquidity of various exchange sites varies. To determine the liquidity of a good exchange platform, look out for their trading volume.
Various exchanges perform Bitcoin transactions at different speed rates. Some could take five days. Meanwhile, others could take place at quicker rates.
Various exchanges are available for use through different platforms. While some sites are mobile-based, some sites are web-based. Therefore, choose the one that offers you comfortability.
The location of an exchange site determines if you can use it. For instance, some countries have regulations that prohibit some exchange sites from operating in their country. Also, trading fees apply to the geographical location. To choose the one that suits your needs, do your research.
5 SITES WHERE YOU CAN BUY THE CHEAPEST BITCOIN
CEX.IO is one of the top-leading exchange sites where you can get cheap Bitcoin. It all depends on the method of payment you use in funding your account. That determines how cheap or costly your orders will be. For instance, if your method of payment is via bank transfer, you will pay zero fees for transactions involving GBP, EUR, and USD. Besides, the trading fee as well is minimal as it depends on your trading volume. Although the withdrawal fees can be quite costly, this shouldn’t bother investors that wish to “go long” with their investment. To get started, create an account here.
Binance is arguably one of the best exchange sites when buying Bitcoin. Viable for beginners and pro users, it allows users to buy several cryptocurrencies using different methods of payment – debit/credit cards, bank transfer, P2P, and more. Its trading fee of 0.1% is reliable and convenient for users. Even the withdrawal fee is one of the lowest amongst many exchanges. With this site, you have access to several trading features that can enhance your trading prospects. To get started with Binance, create an account here.
Paxful is a P2P exchange site that allows you to buy and sell various cryptocurrencies. With P2P, you have the advantage of getting different sellers that sell at various rates. The beauty of this is that you get to buy Bitcoin from the seller of your choice at the best rate. The transaction that occurs between you and the seller is safe as Paxful acts as an escrow between the parties. You can buy crypto through the following ways:
- You see a trader of your choice
- Start the tree and send your payment
- Wait for the seller to send your crypto
One advantage of Paxful is that it offers zero fees to buy Bitcoin. Through various payment methods such as credit/debit cards, bank transfers, gift cards, and more, you get to buy at the customer’s rate. This rate depends on some factors such as verification status, parent methods, and more.
Coinbase is another crypto exchange that allows users to buy Bitcoin. As a popular exchange site, Coinbase offers a free wallet to its users. It accepts payments through different methods and charges a flat fee of $3.99 for its transaction. Also, it stores its digital currencies in an offline vault and safe deposit boxes to enhance security. Besides, there is a 48-hour withdrawal cancelation option to protect users from fraudulent activities.
eToro is another exchange site where you can get Bitcoin at a cheap price. It allows and trains users for trading. For instance, traders who sign up for eToro do get a virtual account of $100,000 to practice their skills before venturing into real trading.
With eToro, you can buy Bitcoin via different methods of your charge. However, they charge a trading fee which is usually minimal.
Cheaply buying Bitcoin gives you an advantage and strategically amasses more profits. By considering the criteria, you have access to different exchange sites of your choice.