After you opened your first cryptocurrency wallet, secured and learned how to send and receive coins to your wallet address, it is time to show you how to buy your first cryptocurrency.
As the majority starts with cryptocurrency by interest in Bitcoin, we will lead you through the process of buying Bitcoin.
There are hundreds if not thousands of sites online that will try to sell you Bitcoin.
Sadly, the vast majority of them are fraudulent, so we will give you our advice about where you should consider buying Bitcoin.
Where is the best place to buy Bitcoin?
We will suggest you 2 ways of buying Bitcoin we find the best at the time of writing.
Kraken is the US exchange founded in 2011 and launched to the public in 2013.
As one of the oldest exchange in the market, Kraken built a reputation for being a safe place for anyone interested in buying and trading cryptocurrencies.
Kraken also outdoes its competition by dealing in multiple fiat currencies which include the US Dollar, the Canadian Dollar, the Euro, the British Pound, and the Japanese Yen.
Once you create an account, you have to get verified in order to deposit the money to your account.
After the verification process is over, you can deposit money to your account which will take up to 48 hours for the money to arrive.
The fees are very low so that’s why it is on first place including the fact that they are very safe and secure.
Click here to check out our guide on how to buy Bitcoin on Kraken.
Disclaimer: The link above is not our affiliate. We are not paid by any party for promoting Kraken nor we do receive any commission. The suggestion is based on user experience and past performances.
Binance is world largest exchange that is growing exponentially.
Apart from being the best and the biggest cryptocurrency exchange, they integrated the fiat gateway that enabled their users to buy Bitcoin with credit or debit card.
The process is very easy and straight forward.
It takes from 10 up to 30 minutes for Bitcoin to reach your wallet after payment.
The fees are reasonable.
You will pay either 3.5% or 10 USD per transaction, whichever is higher.
They accept VISA and MasterCard.
Considering that they are the biggest and the fastest cryptocurrency exchange, the fees that are average (not the cheapest one but definitely not the most expensive), we do believe that this is very good option to buy Bitcoin.
The reason it is behind Kraken on our list is that their fees are higher than the ones at Kraken.
Also, we were using Kraken for more than 2 years and we didn’t have any problem so we have to put it in the first place.
The fact that fiat gateway was integrated recently and that it has some time to be tested and prove itself is one more reason why we give advantage to Kraken.
If you want to buy Bitcoin on Binance, you can click here for a direct link to registration page.
Disclaimer: The link above is our affiliate. We are not paid by any party for promoting Binance but we do receive commission for every trade you take. The suggestion is based on user experience and past performances not the commission we receive.
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Milos is an independent trader, with a background in journalism and publishing. Nomadic by nature, he’s lived in four different countries this decade. He’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives. Milos got into Bitcoin while completing his degree and hasn’t looked back since, writing about anything crypto-related. He is the co-founder of the Cryptoaims and he has a strong passion to educate people about this revolutionary technology.