Cheapest Ways to Buy Bitcoin (2025)

Costs Involved in Buying Bitcoin

There are four primary costs linked to buying Bitcoin on an exchange platform:

1. Trading fees
2. Payment method fees
3. Spreads
4. Fees for instant purchase

Trading fees and spreads are charged by most exchanges, and it is very difficult to get away from them. Although, you can opt to use a payment method that does not incur additional funding fees, such as a bank transfer in place of using a credit card. You should also resist your temptation to buy bitcoin instantly as they incur additional fees.

Cheapest Place to Buy Bitcoin (BTC): Top Picks!

Name	Currencies	Trade Fee	Deposit Method	Link
👍 Zengo	120+ coins, including BTC, ETH, DOGE, USDT, SHIB, MATIC	Free	Credit/Debit Cards, Apple Pay, Google Pay, Bank Transfers	Learn More
Uphold	EUR, USD, GBP, CAD, AUD, and more.	0.5% to 1.0%	Bank Transfers (ACH), Debit Cards, Apple Pay and Google Pay, Cryptocurrency Transfers	Learn More
Binance	USD, EUR, AUD, GBP, NZD + 40 others	Maker 0.10%  and 0.10% taker fees.	Bank transfer (ACH), Credit or Debit card, PayID, Cryptocurrencies.	Learn More
Paybis	BTC, ETH, USDC, XRP and more.	2.49% fixed, 4.5% – 6.99% transaction	Bank transfer, Credit card, Cryptocurrency, Neteller, Skrill	Learn More
Kraken	BTC, DOT, ETH, DOGE and more.	Maker 0.25%  and 0.40% taker fees.	Paypal, Debit or Credit Card	Learn More

1) Zengo

During my research, I found that Zengo is a secure non-custodial wallet in Web3. It removes the private key risk, making it simple and safe to invest in cryptocurrency. You can create an account in under 60 seconds and own your crypto.

Features:

• Trade and Exchange: Zengo lets me trade, exchange, and switch between cryptos seamlessly without the need for any KYC. 
• Supported Assets: I was impressed with the support for over 120 crypto assets, including Bitcoin, Ethereum, and Dogecoin (DOGE).
• Defi Dapps and NFTs: It lets me link my account to access Defi Dapps and NFTs via the Zengo crypto wallet application.
• Deposit Methods: I could make deposit using bank transfer, credit or debit card, ApplePay, and cryptocurrencies.
• Fiat Currencies Supported: Zengo supports currencies from all over the world including EUR, USD, GBP, USD, AUD, CAD, and more.

Trading Fees:

Zengo Essentials is available for free. Minimum purchase amounts usually begin at $50, while maximum limits vary by payment provider, allowing users in Europe to buy up to €10,000 daily and €20,000 monthly.

Visit Zengo >>

Free Wallet

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2) Uphold

I particularly appreciate that Uphold has over 10 million users in 184 countries. It provides a user-friendly platform to buy, trade, and hold over 250 crypto assets, traditional currencies, and precious metals. Uphold has a 100% reserve model to protect user funds. It ensures transparency by updating real-time asset and liability data every 30 seconds. This platform is perfect for those who aim to buy BTC cheaply.

Features:

• Token Variety: Uphold offers a broad range of tokens, including the earliest support for new tokens. Connected to 26 exchanges, Uphold ensured that I get the best token prices.
• Global Spending: It lets me spend assets globally with the Uphold Card, although UK-exclusive. I could access it for my international expenses.
• Recurring Transactions: This tool allowed me to set up automatic, recurring transactions for efficient dollar-cost averaging.
• Advanced Trading: It lets me utilize advanced trading features such as taking profit and trailing stop loss.
• Easy Transfers: I could easily send funds to any Uphold account using an email address. Uphold ensures security by keeping user money 100% reserved.
• Transparency: Uphold lists assets and liabilities publicly, updating them in real time for transparency.
• One-Click Trading: You can do one-click trading between any assets on the Uphold platform easily.

Trading Fees:

Uphold offers a 0.5% to 1.0% (Spread) maker fee and a 0.5% to 1.0% (Spread) taker fee. Deposits via debit/credit card and Google and Apple Pay are subject to a 3.99% fee. Withdrawals are free with a 0% fee with the exception of withdrawals to a debit card where the fee is 1.75%. The minimum transaction value is set at $1 for all trades. There is a $0.99 Fixed fee for trades under $500

Visit Uphold >>

Free Wallet

Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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3) Binance

I recommend Binance as one of the best crypto exchange platforms. It offers trading for more than 500 cryptocurrencies. It provides an API that lets you integrate with your trading web or mobile app.

Features:

• Transaction Convenience: BNB can be employed for transactions within the exchange. This feature allowed me to trade confidently without exceeding my limits.
• User Guidance: The platform offers guidance for novice crypto enthusiasts. I benefitted from using their comprehensive tutorials.
• Market Leadership: With a market capitalization of $17 billion, Binance is a global leader among cryptocurrency exchanges.
• Deposit Options: It lets me make deposits via bank transfer (ACH), credit/debit cards, PayID, and other cryptocurrencies.
• Fiat Currency Support: It supports various fiat currencies, including USD, EUR, AUD, GBP, NZD, and 40 additional currencies.

Trading Fees:

Binance, the maker fee is set at 0.10%, and the taker fee is 0.10%. The platform requires an account minimum of $10, and your limits may differ based on your bitcoin purchase method.

Visit Binance >>

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4) Paybis

As I evaluated different tools, I noticed that Paybis is among the best cryptocurrency platforms. It offers user-friendly access with no minimum deposits, supporting fiat deposits, PayPal, and direct bank deposits. It is very secure as it does not store your cryptocurrency.

Features:

• Cryptocurrency Support: I observed that it supports 100+ Cryptocurrencies and stablecoins. It also supports 40+ payment methods, such as wire transfers and cards.
• Global Availability: The exchange is available in 180+ countries, including 48 USA states, making it accessible.
• High Security: As per my observation, it is very secure as it does not store your cryptocurrency, making sure you get maximum security.
• Regulation: The FinCEN Department of the Treasury, USA, regulates cryptocurrency savings accounts. Paybis also holds a Money Service Business Registration license.
• Fees: You don’t pay network and service fees when you buy bitcoin. It’s an option to avoid costly trading fees across different exchanges.

Trading Fees:

Paybis is a user-friendly cryptocurrency exchange with a $0 account opening fee and a low minimum deposit and withdrawal requirement of $5. Deposits incur a 0.99% commission or a $2 fixed fee for bank transfers, while withdrawals are subject to a 2.49% commission.

Visit Paybis >>

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5) Kraken

In the course of my review, I evaluated Kraken and discovered it as one of the best platforms for trading digital assets. The exchange lets you earn up to 5X leverage in over 100 markets within the crypto exchange. Its intuitive interface impressed me, which is perfect for anyone new to cryptocurrency trading.

Features:

• Multiple Trading Options: Kraken supports margin, spot trading, crypto loans, futures, and OTC trading options. It lets me buy crypto with several fiats, including USD, EUR, GBP, JPY, CAD, CHF, and AUD.
• Security Verification: It offers Tier 2 verification that allowed me to deposit some fiat money in a few minutes. It is regulated by the Financial Crimes Enforcement Network (FinCEN).
• Blockchain Compatibility: Supports multiple blockchains, including ERC-20, TRC-20, Polkadot, Solana, Cardano, Ripple, and others.
• Global Availability: I could access it in continents like Africa, Asia, Europe, North America, Oceania, and South America.

Trading Fees:

Kraken has a maker-taker starting from 0.02%. The rate decreases with the increase in trading volume. Frequent traders also get unique discounts on their transaction fees. It ensures the crypto trading platform maintains high liquidity.

Visit Kraken >>

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6) Gemini

I explored Gemini, a fully regulated cryptocurrency exchange. It is simple, elegant, secure, and the easiest way to invest in a bitcoin and crypto portfolio. Gemini also offers advanced trading options for experienced investors.

Features:

• Cryptocurrency Trading Features: Gemini offers standard cryptocurrency trading features that are enhanced with unique benefits. Using some of these benefits, I could trade easily on Gemini platform. 
• Interest Accrual Program: Through the Gemini Earn Program, I could accrue interest on select cryptocurrencies held in my interest accounts.
• Interest Rate Range: Gemini trading platform offers interest rates that range from a minimum of 1.5% to a maximum of 8%.
• Cryptocurrency Selection: Gemini boasts an extensive selection of cryptocurrencies in its portfolio.

Trading Fees:

Gemini allows deposits via ACH transfer, wire transfer, and debit card. For orders under $200, fees range from $0.99 to $2.99, while orders exceeding $200 incur a 1.49% fee. The platform has no account minimum.

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Why is Bitcoin cheaper on some platforms?

Bitcoin is a decentralized cryptocurrency, which means it does not depend on any central authority for its value. The price of Bitcoin or some other cryptocurrencies is a result of the market’s demand and supply ratio.

This ratio is also not calculated equally across the world. Instead, it is calculated on every crypto trading exchange. Moreover, it also includes the owner’s cost to cover its overheads, which can include security, functionality, and profit.

Therefore, it is possible to find new cryptocurrency exchanges offering Bitcoin at a significantly lower price than established platforms. However, this does not mean that newer cryptocurrency exchanges provide the cheapest way to buy Bitcoin

A brief overview of Bitcoin

Bitcoin is a peer-to-peer technology that is not governed by any central authority or banks. It is electronic money that can be sent from one person to another without going through any financial institution.

The bitcoin network runs on its own blockchain technology, which records all transactions in a distributed ledger called the ‘Blockchain.’ The purpose of this blockchain is to make sure every transaction and balance associated with each bitcoin account can be verified and secured by everyone using the same protocol.

It is presently the dominant crypto currency in the world. It is open source and designed for the public, so nobody owns control of Bitcoin. In fact, there are only 25 million Bitcoins issued. Currently, Bitcoin has a crypto market cap of $12 billion.

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.

» Learn more: How to Mine Bitcoin

What is Bitcoin’s protocol?

A unit of Bitcoin is considered a sequence of digitally signed transactions recorded on the Bitcoin blockchain — a peer-to-peer network that operates on a cryptographic protocol. So, Bitcoin users send and receive bitcoins by broadcasting digitally signed messages to the network via their bitcoin wallets.

With reference to Bitcoin’s official whitepaper, the set instructions that guide its operation as a cryptocurrency are as follows:

Peer-to-peer electronic payment: Bitcoin is to make it possible for an entity to send payment to another without going through a centralized authority like financial institutions. This peer-to-peer ability of Bitcoin is what made people intrigued by this technology, and hence its widespread adoption.

Elimination of the double-spending problem using a peer-to-to-peer network: Bitcoin is to provide a secure means of digital transfer of money without the problem of double-spending. Double spending is the possibility of spending the same coin more than once. Bitcoin was able to solve the problem of double-spending using a peer-to-peer network. “We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work.” – Bitcoin whitepaper

Proof of work: The Bitcoin blockchain protocol uses proof of work to maintain the integrity of its network. The proof-of-work model is a consensus mechanism used to confirm and record Bitcoin transactions on the blockchain network, which is a public ledger made up of blocks of transactions. With this method, each block of transactions has a specific hash, and for the block to be confirmed, a Bitcoin miner must generate a target hash that’s less than or equal to that of the block.

What does its token do?

Technically, Bitcoin is a coin and not just a token since it has its own blockchain network. The Bitcoin blockchain is not a smart contract platform, so there are no crypto tokens using the Bitcoin blockchain. However, there is a crypto asset with the name Bitcoin Token (BTCTC) that trades on a few unpopular exchanges, but there is no evidence that it runs on the bitcoin blockchain.

Having said that, let’s consider the key use cases of Bitcoin. As you already know, BTC is used as money, and as such, it can be used in the following ways:

• To transfer money both locally and internationally
• To buy goods and services online
• As a store of value — it can be saved later used to exchange value.
• As a unit for measuring value — you can price goods or services in them.

Apart from these monetary uses, there is no other use for Bitcoin. The only other function is as tradable security for speculation.

Why do 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.

Why go long?

Bitcoin is the most popular and most valuable cryptocurrency, with lots of institutional interests. Given the fact that its supply is limited, the value of the coin is likely to increase as more institutions gain interest in the cryptocurrency space.

Why go short?

Despite its popularity and liquidity, Bitcoin is still highly volatile security. Its high volatility makes it a risky asset for new investors. Moreover, there are still concerns about the level of electricity consumption associated with Bitcoin mining; this could reduce people’s interest in the coin in the future.

Bitcoin’s competitors

Since the emergence of Bitcoin, other blockchain networks have been created to replicate Bitcoin’s success. The closest competitor to Bitcoin is Ethereum, as it has the second-largest market capitalization.

However, the Ethereum network is a smart contract platform, while the Bitcoin blockchain is not. Since the Ethereum blockchain is a smart contract platform, many tokens have been created on its blockchain network, and its use continues to grow.

In terms of the blockchain, the closest coins to Bitcoin are Bitcoin Cash and Bitcoin SV. Bitcoin Cash is a result of a hard fork (spin-off) of the Bitcoin blockchain that occurred in August 2017. It was created to accommodate a larger block size compared to Bitcoin’s block size of 1MB so as to allow more transactions into a single block. Thus, Bitcoin Cash and Bitcoin share several technical similarities. For example, their supply is capped at 21 million, and they use the same consensus mechanism.

Things you should consider when buying Bitcoin

Here are important things that you need to consider when searching for the cheapest way to buy bitcoin:

Fees:

The cost of buying and selling bitcoin can vary from one crypto exchange platform to another. Moreover, trading fees for the buyers and seller also varies. If you are looking for alternative ways to acquire Bitcoin, consider exploring options to buy Bitcoin without verification or ID.

Investment Selection:

If you want to invest in Bitcoin or other cryptocurrencies, then you should look for a platform that offers a broad selection. For example, if you want to invest in Bitcoin and Stock in the same bitcoin exchange, then you should select a crypto exchange that provides both investment options.

Educational Resources:

Some famous Bitcoin exchanges have extensive libraries of articles, videos, and tutorials to help users to learn about Bitcoin and other crypto exchanges. If you are a new investor, it is certainly beneficial for you to sign-up with crypto decentralized exchanges that provide adequate education about Bitcoin mechanism, trading, market risk, trading fees, etc.

Bonuses:

To encourage crypto trading in their platform, there are many cryptocurrency exchanges that offer good sign-up bonuses for you and demand very low initial spending requirements. However, you should also remember that platform’s bonus should not be the deciding factor. It can certainly help you to find a cheap option for crypto trading.

User-friendliness:

Depending on the investor, this can be varied. For example, if you are buying your first Bitcoin and only plan to occasionally buy and sell the digital currency, you want as simple a user interface as possible. However, on the other hand, if you are an experienced and trader, then you might want a trading platform that offers advanced options like charting tools, order options, etc.

Other ways to buy or invest in Bitcoin cheaply

Here are some other easy ways to invest in Bitcoin securely and cheaply.

• Bitcoin ATMs: Bitcoin ATM works like normal ATMs, only difference is that you use them to buy and sell bitcoin.
• Bitcoin futures: Binance offers several ways for investors to trade on bitcoin futures, but this is pro-level stuff, not for amateurs.
• Grayscale funds: Grayscale Investments is a digital cryptocurrency asset manager. It offers two of its investment advice trusts —Grayscale Ethereum Classic Trust (ETCG) and Grayscale Bitcoin Trust (GBTC) that are publicly traded over the counter, which means you can buy them through many discount brokers.

What to watch out when looking for the cheapest way to buy BTC?

Here are some of the cheapest ways to buy BTC that I found effective and affordable during my research. You can check these options to see if they work for you too:

• You need to make sure that you choose an exchange with a good reputation and adequate customer support.
• It is also mandatory to 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 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

Verdict

I have reviewed three cost-effective platforms for buying Bitcoin, each with distinct features to cater to different needs.

• Zengo: This platform offers a user-friendly, non-custodial wallet with robust security features, making it an excellent choice for beginners who prioritize safety.
• Uphold: It provides a versatile platform with transparent pricing and a wide range of supported assets, appealing to users who value flexibility and cost efficiency.
• Binance: Binance stands out with its low trading fees and comprehensive suite of trading tools, making it ideal for those seeking extensive trading experience at minimal cost.

FAQ: