Where to Buy Crypto?
New to Crypto? This is our guide!
We want to make it easy for you to buy cryptocurrencies, including Bitcoin and Ethereum, no matter where you live in the world. Learn from us as we walk you through some of the topics beginners need to understand to get started.
Exchanges
| Name | Based In | Regulated | Founded | Deposits | Witdrawals |
|---|---|---|---|---|---|
|
United States of America |
✅ |
Feb 2022 |
💱 |
💱 |
|
|
United States of America |
✅ |
May 2014
|
🌐 🏦 💳 |
🌐 🏦 |
|
|
United States of America |
✅ |
Jul 2011
|
🌐 🏦
|
🌐 🏦
|
|
|
United States of America |
✅ |
Sep 2019
|
🌐 🏦 💳 |
🌐 🏦
|
|
|
United Kingdom of Great Britain and Northern Ireland |
⛔ |
Apr 2015 |
🌐 💳 💲
|
💲 |
|
|
United Kingdom of Great Britain and Northern Ireland |
⛔ |
Jun 2013 |
🌐 🏦 💳 💲
|
🌐 🏦 💳 💲
|
|
|
United States of America |
✅ |
Oct 2015
|
🌐 🏦
|
🌐 🏦
|
How to Buy Bitcoin and Other Cryptocurrencies
We understand that it can be difficult and confusing for new users to take their first steps into the world of Bitcoin, blockchain and cryptocurrencies.
WiFi-Bread can help! We collect information from over 300 cryptocurrency exchanges worldwide and use that data to help you choose the best cryptocurrency exchange so you can finally buy your first bitcoin. We’ve created a quick guide for you!
The options available to purchase Bitcoin and other assets vary from country to country, depending on the laws under which the exchange operates. How you buy bitcoin using a credit card, debit card, or wire transfer from your bank account also varies by country and exchange. WiFi-Bread explains these options.
As you may have seen on our Market Prices page, there are thousands of crypto assets to choose from. Most people start with one of the biggest coins like Bitcoin, Ethereum, Bitcoin Cash or Ripple, but it is also possible to buy very obscure and risky speculative assets.
Best Bitcoin Exchange Selection
The first step is to choose an exchange or trading platform that supports local fiat deposits and withdrawals. Many exchanges are localized and only support some currencies. On this page, you can see which exchanges support your preferred currency.
Using extensive data collected from all exchanges, we can rank these exchanges by volume, liquidity (ease of buying and selling bitcoins), and estimated number of users on each exchange. can. We hope this ranking helps you make better decisions about where to buy your first bitcoin!
You can also check if the exchange is licensed and regulated, the various deposit and withdrawal methods supported, fees and transaction fees, and Bitcoin price. All the information you need to make a decision on one page.
These topics may sound a bit mundane, but it’s important to remember that cryptocurrency exchanges must operate under the same rules as stockbrokers. This means we have very high standards of documentation to comply with local laws. Depending on your country of origin, certain exchanges may not be suitable for you. Knowing this in advance will help you choose the best place to buy bitcoin and cryptocurrencies for your situation.
Understanding the different payment methods available
Understanding the different payment methods available
There are four main ways to deposit local currency on cryptocurrency exchanges. they are:
1) local bank transfer; 2) international bank transfer; 3) third party payment processor; 4) credit/debit card.
In the early days, Bitcoin and other early cryptocurrencies could not be purchased with a credit card, debit card, or third-party payment processors such as PayPal. Because it is possible to undo these transactions. Blockchain transfers are irreversible, so it was possible to make payments, receive cryptocurrencies, transfer from exchanges, and undo payments. This meant that the price of BTC and all cryptocurrencies was backed by real money without borrowing for years. Therefore, until recently, it was only possible to receive bitcoins from exchanges using local bank transfers or wire transfers.
| ✅ Advantages | ⛔ Disadvantages | |
|---|---|---|
|
🏦 Local Bank Transfer |
Usually the quickest, easiest and cheapest with a local bank account |
Not all exchanges will offer this service
|
|
🌐 International Wire Transfer (SWIFT) |
The SWIFT protocol is widely accepted and used to transfer money (large and small amounts) |
May take a few days to process, higher fees
|
|
💲 Third Party Payment Processor (Paypal, Webmoney, Skrill, etc.) |
Quick and easy for users with accounts on these platforms to deposit and withdraw |
Need to create an account with third party payment sites
|
|
💳 Credit/Debit Card (Visa, Mastercard) |
Quick and easy to deposit small amounts of money |
Very expensive (credit card fees are passed to you), and there is usually a maximum deposit sum (which will be small)
|
Can I buy Bitcoin Instantly?
Due to the document requirements it often takes several days to fully open and verify an account with an exchange. Some exchanges allow new clients to trade instantly using leverage (borrowed money), while others do not. This means that it is important to check whether cards such as Visa, Mastercard, American Express, Visa Electron are accepted by each exchange of your choice. Once verified and deposited on the exchange, you can buy assets on the market. The range of assets available varies greatly between exchanges, but all offer the best coins such as Bitcoin, Ethereum, Ripple, and Bitcoin Cash.
What you need to buy Bitcoin
Once you’ve decided which exchange you want to trade with, register an account and get a Bitcoin address! After registration, it is quite normal for exchanges to ask you to verify your identity.This is what we call “Know Your Customer” or KYC. This process requires you to submit a photo to prove your identity. After submission, the process may take hours or days. Be patient!
Once the KYC is complete, you will be able to fund your account. Please refer to the above and select the option that best applies to you. We recommend using local bank transfers when possible, but you can also use SWIFT transfers or third-party payment processors. Only use credit cards for small purchases as fees will be added. (Exchanges typically charge a 3-4% credit card fee)
Once the money is deposited, you can buy your first bitcoin! You don’t have to buy the whole bitcoin. Each bitcoin is split into 100 million satoshi, so you can buy fractions of bitcoins!
How to buy Bitcoin: Instructions for beginners
To complete your first purchase, you will need to select a coin to buy on the exchange. The exchange has a “Trading” section where you need to select a coin, such as BTC, ETH, or another. Crypto assets are traded in pairs. The largest coins have matching pairs with major government currencies. This means you can buy directly from USD, EUR, GBP, etc. For coins of your choice.
Purchases can be made at the current market price, or you can set a price at which to buy. If you set your price significantly below the current market price, your trade may or may not close. Complete only if the asset has fallen to the entered price.
Many small coins and assets do not have a fiat currency pair. Buying or selling these requires trading another asset, typically his BTC, ETH, or USD-based stablecoin. To do this, you have to choose a coin, choose BTC and then buy. After a few seconds, your account will show that you have his BTC instead of the deposited currency. Now you can choose a new trade using his BTC as half of the pair and your preferred coin as the other. Exchanges are made at the current coin-to-coin market rate.
How to store Bitcoin
Hold BTC on Bitcoin Exchanges:
Bitcoin exchanges allow you to directly store your digital currency. This is probably the most convenient storage method for crypto newbies, as there have been incidents of exchanges being hacked or clients losing his BTC or altcoins, keeping his BTC on an exchange be aware of the risks. Otherwise, you may choose to store your BTC in an external wallet. This poses a risk to new crypto users who are not yet accustomed to keeping their own private keys.
How you want to spend your new cryptocurrency can affect how you buy and store it. For example, if you want to own bitcoins or altcoins as a short-term investment, it may be easier and easier to keep your coins on the exchange where you bought them.This can create additional security issues. Yes, but the reality is that most people hold at least some of their coins on exchanges. If you just want to learn how to invest in Bitcoin, this is probably the easiest option.
If you plan to buy BTC or other assets for trading purposes, they must be kept on an exchange as they are collateral (assets to bet or borrowed). There are many exchanges that allow clients to trade cryptocurrencies on margin. This is clearly a very risky money management strategy and we recommend that you seek appropriate advice based on your personal circumstances.
However, if you plan to buy virtual currency in bulk or use it to purchase goods and services online, you should keep the coins to yourself. To do this, you need some kind of online wallet or hardware wallet.
Store BTC in Bitcoin Wallet:
Instead of storing your digital assets on a Bitcoin exchange, you can store your BTC in your Bitcoin wallet. Wallets come in two forms: hot and cold. A hot wallet is a piece of software that keeps you connected to the internet, also known as storing bitcoins online in a digital or mobile wallet. Conducting transactions through hot wallets is more convenient, but vulnerable to attacks. A hardware wallet can also be used to cold store new bitcoins, but an online wallet may be easier for those new to cryptocurrency.