Where one can buy Bitcoin?

Bitcoin is the most popular cryptocurrency and has experienced some major price swings in recent years. No need to mention that cryptocurrencies are highly volatile. Depending on the crypto market situation, you may make millions or lose all of your investment. If you are considering buying Bitcoin, there are several ways to purchase it. You can buy this decentralized crypto asset directly or indirectly from traditional brokers or through the crypto exchange platform.

There are additional methods too, for purchasing Bitcoin. Some of them are:

  • Financial apps: Trading cryptocurrencies is now possible through many banking apps like PayPal and Venmo. You can easily buy, sell, trade, and hold Bitcoin with PayPal, the financial application that you usually use for making online payments. It charges spread markup fees for trading bitcoin but not for holding crypto in your account. You can also use Venmo for trading Bitcoin, which is owned by PayPal. 
  • Crypto exchanges: Crypto exchanges are the most popular option for buying, selling, and trading cryptocurrencies. Trading on exchanges has a few distinct benefits. Firstly, the best crypto exchanges charge lower transaction fees for trading cryptocurrency. They are the best option if the price is your primary concern. Secondly, a lot of exchanges don’t impose spread mark-ups, which are hidden costs incorporated into trading prices. Thirdly, most exchanges offer storage wallets so that you can store your crypto assets safely. Coinbase, Binance, Crypto.com, and Kraken are some popular cryptocurrency exchanges where you can buy Bitcoin.
  • Trading apps: You can buy Bitcoin with trading applications such as Webull or Robinhood without paying any direct fees, but you will be charged a spread markup. With trading apps, you can purchase Bitcoin directly and other cryptocurrencies as well. 
  • Traditional brokers: A few conventional brokers, such as Interactive Brokers and TradeStation, have also entered the bitcoin market. With Interactive Brokers, you will be able to trade Bitcoin directly as well as purchase futures contracts on the cryptocurrency.
  • Bitcoin ATMs: Bitcoin ATMs are another option from which you can purchase Bitcoin directly, although you’ll probably end up paying considerably more commission fees than you would elsewhere. Some ATMs also allow you to sell your purchased bitcoins by using cash or debit cards. To complete the transaction, though, you might require a Bitcoin wallet. The cost of commissions can be high; some ATMs also charge around 7% for each transaction.

So these are the options from which you can buy Bitcoin easily. Each of the above-mentioned methods offers a different combination of cost, security, and potential advantages and disadvantages. So do your due diligence on the platform on which you are considering purchasing Bitcoin.