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URLhttps://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin
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Meta TitleCheapest Way to Buy Bitcoin: Find the Best Site to Buy Bitcoins
Meta DescriptionCheapest way to buy Bitcoin: wondering what's the best site to Bitcoins for low price? Follow this cheapest way to buy Bitcoin guide to find out!
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Satoshi Nakamoto created the first Bitcoin in 2009. In the years since then, Bitcoin has changed the way the world thinks about money. Today, all the Bitcoins in the world are worth more than $156 billion ! Buying your first Bitcoins can be a confusing experience, unless you choose reliable cryptocurrency exchange platforms, such as Coinbase , Binance and Coinmama . KRAKEN BINANCE Overall Score 9.8 7.9 Best For Beginners Advanced Users & Beginners Operating Countries United States, Germany, United Kingdom, France, Canada, + 190 more Turkey, Argentina, Vietnam, Ukraine, + 180 more Latest Coupons GET 25 USD IN BTC All Kraken Coupons See All Coupons of Best Exchanges Verdict One of the best crypto exchanges, especially in the US. One of the leading crypto exchange platforms in the industry. Supported in Canada Supported ✅ Not Supported ❌ Visit site Read review See TOP10 Brands Read review Table: Some general information about the Binance and Kraken cryptocurrency exchange platforms There are a lot of different places to buy Bitcoin . All these places offer different ways to buy Bitcoin. Each method of buying Bitcoin will have its own fees . Some of the things that can affect the fees you pay are: Where you live; How you’re paying; What kind of buyer you are. In this guide, I will tell you about the cheapest way and the best place to buy Bitcoin . I will include the best site to buy Bitcoins, the cheapest Bitcoin exchange , and how to buy Bitcoin without fees . When you have finished reading this guide, you will be able to decide where you want to buy your first Bitcoins from. You will also know how you want to pay for them. Before I begin, it’s important for you to know what kind of Bitcoin buyer you are . Jeff Burton EA Co-Founder and CEO at Woodside Creek Ventures How can cryptocurrencies facilitate financial inclusion? The appearance of cryptocurrencies has opened possibilities for billions of unbanked individuals to begin building their own wealth, education, and development. Cryptocurrencies have forced elite financial institutions to reconsider their operations and very existence. Starting with exceptionally small sums of cryptocurrencies, anyone in the world can learn the basics of how finance can improve their lives, thus engaging them further in the world order. Did you know? Want to get smarter & wealthier with crypto? Subscribe - We publish new crypto explainer videos every week! What is a Crypto Bridge? (Explained with Animations) Table of Contents 1. Cheapest Way to Buy Bitcoin: What Kind of Buyer Are You? 2. Coinbase 2.1. Coinbase Fees 2.2. Is Coinbase the Best Place for You to Buy Bitcoins? 3. Other Broker Exchanges 3.1. CEX.IO - Buy Bitcoin Now 3.2. Coinmama - Buy Bitcoin Now 4. Which is the Cheapest Bitcoin Exchange? 5. Buying Bitcoins Peer-to-Peer 5.1. Is LocalBitcoins the Cheapest Way to Buy Bitcoin Peer-to-Peer? 6. Buying Bitcoin from an ATM 7. How to Buy Bitcoin Without Fees 8. Bitcoin Storage 8.1. Next steps 9. Conclusion Cheapest Way to Buy Bitcoin: What Kind of Buyer Are You? People have lots of different reasons for choosing where and how they buy Bitcoin. Here are some of the most popular reasons: Latest Changelly Coupon Found: Anonymity  - Bitcoin allows people to send money to each other directly , without using a bank and without having to share personal details with anyone . This is called anonymity . For some buyers, anonymity is the most important reason for buying Bitcoin. This means that they need to find a place to buy Bitcoin where they can stay anonymous! Community  - Some buyers are really interested in cryptocurrency and blockchain technology . They want to be part of the crypto community . For these buyers, it will be important to buy Bitcoin in a place where they can mix with the Bitcoin community. This might be online or in-person. Ease of Use  - How easy it is to buy Bitcoin is very important for crypto beginners. Newbies need to find a place where buying Bitcoin is simple . Security  - Everyone wants to be safe when they’re making a purchase. Some ways of buying Bitcoin are safer than others! One thing that all these kinds of buyer have in common is that they want to find the cheapest place to buy Bitcoin . So, whatever kind of buyer you are, I can help you find the cheapest way to buy Bitcoin that fits your needs. One of the most popular places for newbies to buy their first Bitcoins is Coinbase . It's reliable, easy-to-use, and allows you to purchase Bitcoins using fiat money . What about Coinbase - is it the best site to buy Bitcoins, though? Let’s see. The Most Liked Findings Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look! Coinbase Coinbase is a Bitcoin broker exchange . This means it buys Bitcoin for you ! All you need to do is open an account  and decide how much Bitcoin you want to buy. To pay for your Bitcoin, you’ll need some fiat currency . Note: A fiat currency is the legal money of a country. For example, the fiat currency of France is the Euro (EUR). Coinbase is based in the US , and is available in 32 countries around the world . They include Canada , Australia , Singapore , the United States and numerous European countries that are in the SEPA . Note: The SEPA is the Single Euro Payments Area. If you live in the SEPA then you can send Euros between SEPA countries quickly and easily. However, if you live in a SEPA country that doesn’t use the Euro as its fiat currency - like Great Britain - then your bank may charge you a currency conversion fee to use SEPA services. Coinbase Fees You will pay at least 1.49% of your purchase amount as a fee when you buy Bitcoin with Coinbase. You will pay this if you deposit fiat currency into your Coinbase account before you buy Bitcoin. Coinbase doesn’t charge for deposits of fiat currency made by bank transfer . Coinbase will charge at least 3.99% of your purchase amount if you use a credit or debit card to buy Bitcoin. Note: If you use Coinbase in Canada or Australia you will only be able to buy Bitcoin with a credit or debit card. Is Coinbase the Best Place for You to Buy Bitcoins? Some critics think that Coinbase operates too much like an online shopping app . If you want to meet the hardcore crypto community , it’s probably not at Coinbase! Coinbase also isn’t for users who want anonymity, either. In February 2018, Coinbase gave the American taxman the account details of 13,000 of its users ! However, Coinbase is a very easy platform to use . It also has a great safety record . Coinbase has never been hacked and around 98% of its funds are stored offline . It’s the perfect place for most crypto newbies to buy Bitcoin. Let’s have a look at the fees of a couple of other broker exchanges to see if Coinbase is the cheapest way to buy Bitcoin. Other Broker Exchanges There are a few other brokers that offer similar services to Coinbase. But which is the cheapest Bitcoin exchange? CEX.IO - Buy Bitcoin Now CEX.IO is a broker exchange based in London. It offers services in 99% of the countries in the world , and 24 states of the US ( it doesn’t operate in New York ). CEX.IO charges 7% to buy Bitcoin using a credit or debit card . CEX.IO charges lower fees if you deposit money into your account before you buy. You can make deposits by bank transfer with US dollars ( USD ), British Pounds ( GBP ) and Euros ( EUR ) for free . CEX.IO fees are then based on whether you are a maker or a taker . A maker is someone who is willing to buy or sell Bitcoin for a price that isn’t already being offered on the exchange. A taker is someone who wants to buy or sell Bitcoin for a price that is already being offered. A taker will get their order for Bitcoin filled immediately. A maker will have to wait until a taker accepts their price. Brokers bring makers and takers together. CEX.IO charges takers 0.25% . This is based on a purchase of less than 5 BTC ( which is worth about $48,000 ). Charges for makers are less ( 0.16% ), but most beginners will be takers because it’s an easier trade. CEX.IO is a safe platform, but it might be a little too complicated for beginners. The cheapest way to buy Bitcoin quickly is still Coinbase . Let’s have a look at Coinmama , and see if this platform is the cheapest way to buy Bitcoin. Coinmama - Buy Bitcoin Now Coinmama is a broker exchange based in Israel. It offers services to over 180 countries around the world . Coinmama offers very similar services to Coinbase , but which is the best site to buy Bitcoins? You can’t deposit money on Coinmama , so you need to pay with a credit card, debit card, or Western Union payment. You can only BUY Bitcoin with Coinmama. If you want to sell it later, you’ll have to use another exchange . Coinmama has very limited features, but what about its fees? Coinmama charges a fee of 5.9% for every purchase of Bitcoin . It adds another 5% fee for purchases using a credit or debit card. You can expect to pay nearly 11% in total . Coinmama is one of the more expensive brokers , but it has some good qualities too. Coinmama is easy to use and it’s fast . Card registration isn’t needed to make a purchase, and card details aren’t stored on the main site. This makes Coinmama one of the safest and more anonymous places to buy Bitcoin. Which is the Cheapest Bitcoin Exchange? Coinbase is the quickest and cheapest way to buy Bitcoin out of the four brokers I’ve talked about. CEX.IO has better trading options, and Coinmama is better for privacy. However, KuCoin offers some of the lowest fees in the market for direct purchases with credit and debit cards . I know what you’re thinking! You’re thinking, “ hey, I thought Bitcoin was supposed to be a new kind of money? Why should I pay fees to exchanges!? ” A lot of Bitcoin users feel this way . Bitcoin is a peer-to-peer currency , so you should be able to buy it from a peer-to-peer exchange . Don’t worry, you can! Note: Peer-to-peer means from one person to another. Bitcoin is peer-to-peer because users can send each other Bitcoins without using a bank. A bank is a third party, or middleman. Bitcoin - and all other cryptocurrencies - don’t need third parties for them to work. However, when you buy Bitcoin on an exchange - like Coinbase - you are using a third party. Some crypto fans don’t want to use third parties at all! Are peer-to-peer exchanges the cheapest way to buy Bitcoin? Let’s find out. Buying Bitcoins Peer-to-Peer One of the most popular peer-to-peer exchanges is LocalBitcoins . LocalBitcoins is based in Finland, and allows its users to trade Bitcoins with each other directly. This means that you can use LocalBitcoins to buy Bitcoins from people in your local area! LocalBitcoins has traders willing to sell Bitcoin in more than 15,000 cities in 248 different countries . The traders on LocalBitcoins pay a fee to advertise their Bitcoin. Buyers don’t pay anything! There are many different payment methods available on LocalBitcoins. You can pay traders with PayPal , bank deposits , bank transfers , credit cards , and even cash ! LocalBitcoins is one of the few exchanges that encourages its users to meet each other in person to buy and sell Bitcoin . This makes it a great platform for users who want to be a part of the crypto community. For security, LocalBitcoins has a user rating feature . It also has good customer support services. These include conflict resolution and escrow holding. It is important to be careful when buying Bitcoins peer-to-peer. Learn as much as you can about the seller before you buy. If you meet a seller in person, always do it in a public place and take a buddy with you! Did you know? Want to get smarter & wealthier with crypto? Subscribe - We publish new crypto explainer videos every week! What Is Tether? (USDT SIMPLY Explained With Animations) Is LocalBitcoins the Cheapest Way to Buy Bitcoin Peer-to-Peer? There are no fees , and you don’t have to give any personal information when you buy Bitcoin with LocalBitcoins. Users can stay anonymous, and meet the crypto community! However, sellers often charge more for Bitcoins than some exchanges do. This means that LocalBitcoins isn’t always the cheapest way to buy Bitcoin. Other peer-to-peer Bitcoin exchanges include the  Wall of Coins , Paxful , and BitQuick . These exchanges tend to have higher fees than LocalBitcoins, and offer fewer services . For example, Wall of Coins is only available in 12 countries, and BitQuick charges buyers a 2% fee . LocalBitcoins is the best and cheapest way to buy Bitcoin peer-to-peer. I know when I want some cash, I go to the ATM. Let’s look at where you can buy Bitcoin from an ATM. Buying Bitcoin from an ATM A Bitcoin ATM is a cash machine where you can buy Bitcoin. CoinATMRadar lists the locations of Bitcoin ATMs in over 60 different countries. Bitcoin ATMs can be fully anonymous . They are also a safer way to buy Bitcoins than peer-to-peer. However, Bitcoin ATMs can cost a lot more than other ways of buying Bitcoin. Let’s use an example to see the difference: Mario lives in San Diego, California, and wants to buy 1 BTC. Mario uses Coinbase and pays with a credit card. Coinbase offers 1 BTC for $9,633. Mario pays about $10,018  after a fee of 3.99% is added. Mario’s brother, Wario, also lives in San Diego and wants to buy 1 BTC. He goes to the Bitcoin ATM at The Cage Smoke Shop on El Cajon Boulevard. The ATM charges Wario $ 10,420.36 . That’s over $400 more than Mario paid! Buying Bitcoin from ATMs is quick , anonymous , and safe . It isn’t the cheapest way to buy Bitcoin, though. When you buy Bitcoin you need somewhere to store it. To use any of the methods I’ve talked about you will need a Bitcoin wallet . How to Buy Bitcoin Without Fees Remember when I told you that Coinbase doesn’t charge fees for deposits? Well, Coinbase has a sister company called GDAX . When you sign up for a Coinbase account, you also get access to GDAX. GDAX doesn’t charge maker fees . This means that you can buy Bitcoin without paying any fees! To do this, you need to transfer funds from Coinbase to GDAX ( for free ). Then you need to submit a buy order that isn’t already available on the exchange. This is a maker order . It might take some time for your order to be filled. When the order is filled, you’ll receive the Bitcoin you ordered. With no fee! This is the cheapest way to buy Bitcoin without paying fees! Bitcoin Storage Bitcoin wallets are where you keep all the codes you need to access your Bitcoin. A wallet can be software , hardware , online , or offline . It can even be a piece of paper! It is recommended that you use more than one kind of wallet to store your Bitcoin. Currently, the most recommended wallets are hardware ones , including such products as Ledger Nano X and Trezor Model T . They're highly secure and reliable, as your private keys will be kept offline! Wallets are very important, so keep them secure! Pros Secure and reliable Accepts fiat currencies Lots of trading options Main Features Reputable exchange Accepts fiat currencies Offers various trading options Pros Huge trading variety Regulation-compliant around the globe Fair trading fees Main Features Beginner-friendly A wide array of features Vast number of different crypto coins & tokens Pros Accepts fiat currencies Simple to use Supports only trusted cryptocurrencies Main Features A leading cryptocurrency exchange platform Best for all type investors Accepts fiat currencies Next steps In this guide, I’ve told you about the cheapest place to buy Bitcoin. You’ve also learned about how to buy Bitcoin without fees. There are other places to try though. As you become more confident, you can try buying Bitcoin on a professional trading exchange like Bitstamp or Kraken . If you’re ready to start trading like a pro, check out our Kraken VS Bitstamp comparison . Let’s finish with a few final thoughts. The Most Trending Findings Browse our collection of the most thorough Crypto Exchange related articles, guides & tutorials. Always be in the know & make informed decisions! Conclusion If you google the words, “ buy Bitcoin lowest fees ”, you get thousands of results . Most of the sites claiming to have the lowest Bitcoin fees are lying! The truth is that buying Bitcoin is quite expensive . So, don’t worry too much about the cheapest way to buy Bitcoin. Try to find the best place to buy Bitcoin for you . The first place you buy Bitcoin should be safe and easy to use. Coinbase is both of these things and it’s cheap. That’s why so many people recommend KuCoin to newbies . Some buyers might care more about privacy than fees. For these people, I would suggest using a peer-to-peer exchange like LocalBitcoins . Or, if you want to avoid the hassle , altogether, you could just purchase BTC via Simplex , with a credit card. They’re also a great way to get involved in the world of crypto. Remember, Bitcoin is more than just money. Bitcoin is a new way for people to connect with each other . Also, don't forget to choose a secure wallet for your Bitcoin. Ledger Nano X and Trezor Model T are among the most recommended options.  Let me know when you’ve made your first purchase of Bitcoin. I’d love to hear which method you used! The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
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Editor-In-Chief](https://assets.bitdegree.org/images/aaron.jpg?tr=w-70)](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief) Written by[Aaron S.,](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief) Editor-In-Chief ✓ Fact Checked ✓ Fact Checked **Last Updated:** February 22, 2026 [Crypto](https://www.bitdegree.org/crypto) [Guides](https://www.bitdegree.org/crypto/tutorials) Cheapest Way to Buy Bitcoin: What’s the Best Site to Buy Bitcoins Stop overpaying - start transferring money with Ogvio. **Sign up, invite friends** & grab [**Rewards now**](https://www.bitdegree.org/crypto/goon/ogvio?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)! 🎁 ![Cheapest Way to Buy Bitcoin: What’s the Best Site to Buy Bitcoins](https://assets.bitdegree.org/crypto/storage/media/cheapest-way-to-buy-bitcoin.o.jpg) **Satoshi Nakamoto** created the first [**Bitcoin**](https://www.bitdegree.org/crypto/buy-bitcoin-btc) in 2009. 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All these places offer different ways to buy Bitcoin. Each method of buying Bitcoin will have **its own fees**. Some of the things that can affect the fees you pay are: - Where you live; - How you’re paying; - What kind of buyer you are. In this guide, I will tell you about **the cheapest way and the best place to buy Bitcoin**. I will include **the best site** to buy Bitcoins, **the cheapest** **Bitcoin exchange**, and how to buy Bitcoin **without fees**. When you have finished reading this guide, you will be able to decide where you want to buy your first Bitcoins from. *You will also know how you want to pay for them.* Before I begin, it’s important for you to know **what kind of Bitcoin buyer you are**. [![Jeff Burton EA Co-Founder and CEO at Woodside Creek Ventures](https://assets.bitdegree.org/images/jeff-burton.jpg?tr=w-150)](https://www.bitdegree.org/about-us/analysts#jeff) *Jeff Burton* EA Co-Founder and CEO at Woodside Creek Ventures ## How can cryptocurrencies facilitate financial inclusion? The appearance of cryptocurrencies has opened possibilities for billions of unbanked individuals to begin building their own wealth, education, and development. Cryptocurrencies have forced elite financial institutions to reconsider their operations and very existence. Starting with exceptionally small sums of cryptocurrencies, anyone in the world can learn the basics of how finance can improve their lives, thus engaging them further in the world order. ![What is a Crypto Bridge? (Explained with Animations)](https://assets.bitdegree.org/crypto/assets/images/compare-crypto-exchanges.gif) Did you know? Want to get smarter & wealthier with crypto? Subscribe - We publish new crypto explainer videos every week\! What is a Crypto Bridge? (Explained with Animations) ![What is a Crypto Bridge? (Explained with Animations)]()![What is a Crypto Bridge? (Explained with Animations)](https://assets.bitdegree.org/crypto/assets/video-button.png?tr=w-85) [SUBSCRIBE ON YOUTUBE](https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1) ### Table of Contents - [1\. Cheapest Way to Buy Bitcoin: What Kind of Buyer Are You?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#cheapest-way-to-buy-bitcoin-what-kind-of-buyer-are-you) - [2\. Coinbase](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#coinbase) - [2\.1. Coinbase Fees](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#coinbase-fees) - [2\.2. Is Coinbase the Best Place for You to Buy Bitcoins?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#is-coinbase-the-best-place-for-you-to-buy-bitcoins) - [3\. Other Broker Exchanges](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#other-broker-exchanges) - [3\.1. CEX.IO - Buy Bitcoin Now](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#cexio-buy-bitcoin-now) - [3\.2. Coinmama - Buy Bitcoin Now](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#coinmama-buy-bitcoin-now) - [4\. Which is the Cheapest Bitcoin Exchange?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#which-is-the-cheapest-bitcoin-exchange) - [5\. Buying Bitcoins Peer-to-Peer](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#buying-bitcoins-peer-to-peer) - [5\.1. Is LocalBitcoins the Cheapest Way to Buy Bitcoin Peer-to-Peer?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#is-localbitcoins-the-cheapest-way-to-buy-bitcoin-peer-to-peer) - [6\. Buying Bitcoin from an ATM](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#buying-bitcoin-from-an-atm) - [7\. How to Buy Bitcoin Without Fees](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#how-to-buy-bitcoin-without-fees) - [8\. Bitcoin Storage](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#bitcoin-storage) - [8\.1. Next steps](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#next-steps) - [9\. Conclusion](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#conclusion) ## Cheapest Way to Buy Bitcoin: What Kind of Buyer Are You? People have *lots of different reasons* for choosing where and how they buy Bitcoin. Here are some of the most popular reasons: Latest Changelly Coupon Found: Verified ## WIN AN EXCLUSIVE WALLET ### 250 SafePal x Changelly Wallets Up for Grabs\! Enter the raffle in Changelly’s app, swap \$50 or more in crypto, and get a chance to win a limited edition SafePal S1 hardware wallet. 10 winners are picked every day, don’t miss out\! Expiration date: 10/04/2026 924 People Used Only 13 Left Rating 5\.0 [Get deal](https://www.bitdegree.org/crypto/goon/changelly-safepal-giveaway?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) - **Anonymity** \- Bitcoin allows people to **send money to each other directly**, **without using a bank and without having to share personal details with anyone**. This is called **anonymity**. For some buyers, anonymity is the most important reason for buying Bitcoin. *This means that they need to find a place to buy Bitcoin where they can stay anonymous\!* - **Community** \- Some buyers are really interested in [**cryptocurrency**](https://www.bitdegree.org/crypto/tutorials/what-is-a-cryptocurrency) and [**blockchain technology**](https://www.bitdegree.org/crypto/tutorials/blockchain-explained). They want to be part of **the crypto community**. For these buyers, it will be important to buy Bitcoin in a place where they can mix with the Bitcoin community. *This might be online or in-person.* - **Ease of Use** \- How **easy** it is to buy Bitcoin is very important for crypto beginners. Newbies need to find a place where buying Bitcoin is **simple**. - **Security** \- Everyone wants to be safe when they’re making a purchase. *Some ways of buying Bitcoin are safer than others\!* One thing that all these kinds of buyer have in common is that they want to **find the cheapest place to buy Bitcoin**. So, whatever kind of buyer you are, I can help you find the cheapest way to buy Bitcoin that fits your needs. One of the most popular places for newbies to buy their first Bitcoins is [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin). It's reliable, easy-to-use, and allows you to **purchase Bitcoins using fiat money**. *What about Coinbase - is it the best site to buy Bitcoins, though?* Let’s see. The Most Liked Findings Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look\! [![How to Withdraw Money From Binance Wallet Securely](https://assets.bitdegree.org/images/how-to-withdraw-money-from-binance-wallet-featured-image.jpg?tr=w-400)Wallets How to Withdraw Money From Binance Wallet Securely](https://www.bitdegree.org/crypto/tutorials/how-to-withdraw-money-from-binance-wallet) [![How to Withdraw Money From Binance in Pakistan](https://assets.bitdegree.org/images/how-to-withdraw-from-binance-in-pakistan-featured-image.jpg?tr=w-400)Cryptocurrencies How to Withdraw Money From Binance in Pakistan](https://www.bitdegree.org/crypto/tutorials/how-to-withdraw-money-from-binance-in-pakistan) [![How to Withdraw Money From KuCoin in India](https://assets.bitdegree.org/images/how-to-withdraw-from-kucoin-in-india-featured-image.jpg?tr=w-400)Exchanges How to Withdraw Money From KuCoin in India](https://www.bitdegree.org/crypto/tutorials/how-to-withdraw-money-from-kucoin-in-india) ## Coinbase [![cheapest way to buy bitcoin in coinbase](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins.png)](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) **Coinbase** is a Bitcoin *broker exchange*. This means **it buys Bitcoin for you**! All you need to do is **open an account** and decide how much Bitcoin you want to buy. To pay for your Bitcoin, you’ll need some [**fiat currency**](https://en.wikipedia.org/wiki/Fiat_money). *Note: A fiat currency is the legal money of a country. For example, the fiat currency of France is the Euro (EUR).* Coinbase is **based in the US**, and is **available in 32 countries around the world**. They include **Canada**, **Australia**, **Singapore**, the **United States** and numerous European countries that are in the [**SEPA**](https://en.wikipedia.org/wiki/Single_Euro_Payments_Area). *Note: The SEPA is the Single Euro Payments Area. If you live in the SEPA then you can send Euros between SEPA countries quickly and easily. However, if you live in a SEPA country that doesn’t use the Euro as its fiat currency - like Great Britain - then your bank may charge you a currency conversion fee to use SEPA services.* ### Coinbase Fees You will pay **at least 1.49%** **of your purchase amount** **as a fee** when you buy Bitcoin with Coinbase. You will pay this if you deposit fiat currency into your Coinbase account before you buy Bitcoin. *Coinbase doesn’t charge for deposits of fiat currency made by bank transfer*. Coinbase will charge **at least 3.99% of your purchase amount** **if you use a credit or debit card** to buy Bitcoin. *Note: If you use Coinbase in Canada or Australia you will only be able to buy Bitcoin with a credit or debit card.* ### Is Coinbase the Best Place for You to Buy Bitcoins? Some critics think that Coinbase operates too much like *an online shopping app*. If you want to meet *the hardcore crypto community*, it’s probably not at Coinbase! Coinbase also isn’t for users who want anonymity, either. *In February 2018, Coinbase gave the American taxman the account details of [13,000 of its users](https://en.wikipedia.org/wiki/Coinbase)\!* However, **Coinbase is a very easy platform to use**. It also has **a great safety record**. Coinbase **has never been hacked** and around 98% of its funds are stored [**offline**](https://www.bitdegree.org/crypto/cold-wallet). *It’s the perfect place for most crypto newbies to buy Bitcoin.* Let’s have a look at the fees of a couple of other broker exchanges to see if Coinbase is the cheapest way to buy Bitcoin. ## Other Broker Exchanges There are *a few other brokers* that offer similar services to Coinbase. But which is the cheapest Bitcoin exchange? ### CEX.IO - [Buy Bitcoin Now](https://www.bitdegree.org/crypto/goon/cex-io?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) **[CEX.IO](https://www.bitdegree.org/crypto/goon/cex-io?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)** is a broker exchange based in London. It offers services in **99% of the countries in the world**, and **24 states of the US** (*it doesn’t operate in New York*). ![cheapest way to buy bitcoin on cex](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins-1.png) **CEX.IO charges 7% to buy Bitcoin using a credit or debit card**. CEX.IO charges lower fees if you deposit money into your account before you buy. You can make deposits by bank transfer with **US dollars** (*USD*), **British Pounds** (*GBP*) and **Euros** (*EUR*) **for free**. CEX.IO fees are then based on whether you are a *maker* or a *taker*. **A** **maker** is someone who is willing to buy or sell Bitcoin for a price that isn’t already being offered on the exchange. **A taker** is someone who wants to buy or sell Bitcoin for a price that is already being offered. A taker will get their order for Bitcoin filled immediately. *A maker will have to wait until a taker accepts their price.* Brokers bring makers and takers together. **CEX.IO charges takers 0.25%**. This is based on a purchase of less than 5 BTC (*which is worth about \$48,000*). Charges for makers are less (**0\.16%**), but most beginners will be takers because it’s an easier trade. CEX.IO is a safe platform, but it might be *a little too complicated* for beginners. The cheapest way to buy Bitcoin quickly is still [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin). Let’s have a look at **[Coinmama](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**, and see if this platform is the cheapest way to buy Bitcoin. ### Coinmama - [Buy Bitcoin Now](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) ![cheapest way to buy bitcoin on coinmama](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins-2.png) [**Coinmama**](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is a broker exchange based in Israel. It offers services to **over 180 countries around the world**. Coinmama offers *very similar services* to [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin), but which is the best site to buy Bitcoins? **You can’t deposit money on Coinmama**, so you need to pay with a credit card, debit card, or Western Union payment. You can **only BUY** Bitcoin with Coinmama. If you want to sell it later, you’ll have to [**use another exchange**](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange). *Coinmama has very limited features, but what about its fees?* Coinmama charges **a fee of 5.9% for every purchase of Bitcoin**. It adds **another 5% fee** for purchases using a credit or debit card. *You can expect to pay nearly 11% in total*. **Coinmama is one of the more expensive brokers**, but it has some good qualities too. Coinmama is **easy to use** and it’s **fast**. Card registration isn’t needed to make a purchase, and card details aren’t stored on the main site. *This makes Coinmama one of the safest and more anonymous places to buy Bitcoin.* ## Which is the Cheapest Bitcoin Exchange? [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is the *quickest and cheapest way to buy Bitcoin* out of the four brokers I’ve talked about. [**CEX.IO**](https://www.bitdegree.org/crypto/goon/cex-io?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) has better trading options, and [**Coinmama**](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is better for privacy. However, **KuCoin offers some of the lowest fees in the market for direct purchases with credit and debit cards**. *I know what you’re thinking\!* You’re thinking, “*hey, I thought Bitcoin was supposed to be a new kind of money? Why should I pay fees to exchanges!?*” **A lot of Bitcoin users feel this way**. Bitcoin is **a [*peer-to-peer*](https://en.wikipedia.org/wiki/Social_peer-to-peer_processes) currency**, so you should be able to buy it from **a peer-to-peer exchange**. *Don’t worry, you can\!* *Note: Peer-to-peer means from one person to another. Bitcoin is peer-to-peer because users can send each other Bitcoins without using a bank. A bank is a third party, or middleman. Bitcoin - and all other cryptocurrencies - don’t need third parties for them to work.* *However, when you buy Bitcoin on an exchange - like Coinbase - you are using a third party. Some crypto fans don’t want to use third parties at all\!* Are peer-to-peer exchanges the cheapest way to buy Bitcoin? Let’s find out. ## Buying Bitcoins Peer-to-Peer One of the most popular peer-to-peer exchanges is **LocalBitcoins**. LocalBitcoins is based in Finland, and allows its users to trade Bitcoins with each other directly. *This means that you can use LocalBitcoins to buy Bitcoins from people in your local area\!* ![cheapest way to buy bitcoin](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins-3.png) LocalBitcoins has traders willing to sell Bitcoin in **more than 15,000 cities in 248 different countries**. The traders on LocalBitcoins pay a fee to advertise their Bitcoin. *Buyers don’t pay anything\!* There are **many different payment methods** available on LocalBitcoins. You can pay traders with **PayPal**, **bank deposits**, **bank transfers**, **credit cards**, and even **cash**\! LocalBitcoins is one of the few exchanges that **encourages its users to meet each other in person to buy and sell Bitcoin**. This makes it a great platform for users who want to be a part of the crypto community. For security, LocalBitcoins has **a user rating feature**. It also has good customer support services. These include *conflict resolution* and *escrow holding.* It is **important to** **be careful** when buying Bitcoins peer-to-peer. Learn as much as you can about the seller before you buy. If you meet a seller in person, always do it in a public place and take a buddy with you\! ![What Is Tether? (USDT SIMPLY Explained With Animations)](https://assets.bitdegree.org/crypto/assets/images/compare-crypto-exchanges.gif) Did you know? Want to get smarter & wealthier with crypto? Subscribe - We publish new crypto explainer videos every week\! What Is Tether? (USDT SIMPLY Explained With Animations) ![What Is Tether? (USDT SIMPLY Explained With Animations)]()![What Is Tether? (USDT SIMPLY Explained With Animations)](https://assets.bitdegree.org/crypto/assets/video-button.png?tr=w-85) [SUBSCRIBE ON YOUTUBE](https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1) ### Is LocalBitcoins the Cheapest Way to Buy Bitcoin Peer-to-Peer? There are **no fees**, and you don’t have to give any personal information when you buy Bitcoin with LocalBitcoins. *Users can stay anonymous, and meet the crypto community\!* However, sellers often charge more for Bitcoins than some exchanges do. This means that LocalBitcoins isn’t always the cheapest way to buy Bitcoin. Other peer-to-peer Bitcoin exchanges include the **Wall of Coins**, **Paxful**, **and BitQuick**. These exchanges tend to have higher fees than LocalBitcoins, and offer **fewer services**. For example, Wall of Coins is only available in 12 countries, and BitQuick charges buyers **a 2% fee**. *LocalBitcoins is the best and cheapest way to buy Bitcoin peer-to-peer.* I know when I want some cash, I go to the ATM. Let’s look at where you can buy Bitcoin from an ATM. ## Buying Bitcoin from an ATM **A Bitcoin ATM** is a cash machine where you can buy Bitcoin. **[CoinATMRadar](https://coinatmradar.com/)** lists the locations of Bitcoin ATMs in over 60 different countries. Bitcoin ATMs can be **fully anonymous**. They are also a safer way to buy Bitcoins than peer-to-peer. However, Bitcoin ATMs can cost a lot more than other ways of buying Bitcoin. *Let’s use an example to see the difference:* *Mario lives in San Diego, California, and wants to buy 1 BTC. Mario uses Coinbase and pays with a credit card. Coinbase offers 1 BTC for \$9,633. Mario pays about **\$10,018** after a fee of 3.99% is added.* *Mario’s brother, Wario, also lives in San Diego and wants to buy 1 BTC. He goes to the Bitcoin ATM at The Cage Smoke Shop on El Cajon Boulevard. The ATM charges Wario **\$****10,420.36**. That’s over \$400 more than Mario paid\!* Buying Bitcoin from ATMs is **quick**, **anonymous**, and **safe**. *It isn’t the cheapest way to buy Bitcoin, though.* When you buy Bitcoin you need somewhere to store it. To use any of the methods I’ve talked about you will need [**a Bitcoin** **wallet**](https://www.bitdegree.org/crypto/best-bitcoin-wallet)*.* ## How to Buy Bitcoin Without Fees *Remember when I told you that [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) doesn’t charge fees for deposits?* Well, Coinbase has a sister company called **GDAX**. When you sign up for a Coinbase account, you also get access to GDAX. **GDAX doesn’t charge maker fees**. This means that you can buy Bitcoin without paying any fees\! ![Cheapest way to buy Bitcoin: GDAX.](https://assets.bitdegree.org/crypto/storage/media/cheapest-way-to-buy-bitcoin-gdax.o.jpg) To do this, you need to transfer funds from Coinbase to GDAX (*for free*). Then you need to submit a buy order that isn’t already available on the exchange. *This is a maker order*. It might take some time for your order to be filled. When the order is filled, you’ll receive the Bitcoin you ordered. *With no fee\!* *This is the cheapest way to buy Bitcoin without paying fees\!* ## Bitcoin Storage **Bitcoin wallets** are where you keep all the codes you need to access your Bitcoin. A wallet can be **software**, **hardware**, **online**, or **offline**. *It can even be a piece of paper\!* It is recommended that you use more than one kind of wallet to store your Bitcoin. Currently, the most recommended wallets are **hardware ones**, including such products as **[Ledger Nano X](https://www.bitdegree.org/crypto/goon/ledger-nano-x?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) and [Trezor Model T](https://www.bitdegree.org/crypto/goon/trezor-model-t?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**. They're highly secure and reliable, as your private keys will be kept offline\! *Wallets are very important, so keep them secure\!* ![Kraken Review](https://assets.bitdegree.org/images/kraken-review-horizontal-logo-v1.png) **Pros** - Secure and reliable - Accepts fiat currencies - Lots of trading options **Main Features** - Reputable exchange - Accepts fiat currencies - Offers various trading options [GET 25 USD IN BTC](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) ![BYDFi Review](https://assets.bitdegree.org/crypto/storage/optimized/BYDFi%20logo%20small.png) **Pros** - Huge trading variety - Regulation-compliant around the globe - Fair trading fees **Main Features** - Beginner-friendly - A wide array of features - Vast number of different crypto coins & tokens [2,000 DEPOSIT BONUS](https://www.bitdegree.org/crypto/goon/bydfi?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) ![Coinbase Review](https://assets.bitdegree.org/images/coinbase-review-horizontal-logo.png) **Pros** - Accepts fiat currencies - Simple to use - Supports only trusted cryptocurrencies **Main Features** - A leading cryptocurrency exchange platform - Best for all type investors - Accepts fiat currencies [\$2,000 IN CRYPTO](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) ### Next steps In this guide, I’ve told you about the cheapest place to buy Bitcoin. You’ve also learned about how to buy Bitcoin without fees. There are other places to try though. As you become more confident, you can try buying Bitcoin on a professional trading exchange like **[Bitstamp](https://www.bitdegree.org/crypto/goon/bitstamp?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)** or **[Kraken](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**. *If you’re ready to start trading like a pro, check out our [**Kraken VS Bitstamp comparison**.](https://www.bitdegree.org/crypto/tutorials/bitstamp-vs-kraken)* Let’s finish with a few final thoughts. The Most Trending Findings Browse our collection of the most thorough Crypto Exchange related articles, guides & tutorials. Always be in the know & make informed decisions\! [![How to Make Money With Bitcoin: A Comprehensive Guide](https://assets.bitdegree.org/crypto/storage/media/How-to-Make-Money-with-Bitcoin-A-Comprehensive-Guide.o.jpg?tr=w-400)Cryptocurrencies How to Make Money With Bitcoin: A Comprehensive Guide](https://www.bitdegree.org/crypto/tutorials/how-to-make-money-with-bitcoin) [![Looking to Sell NFTs? Here’s All You Need to Know](https://assets.bitdegree.org/crypto/storage/media/sell-nft-featured.o.jpg?tr=w-400)NFTs Looking to Sell NFTs? Here’s All You Need to Know](https://www.bitdegree.org/crypto/tutorials/sell-nft) [![Ethereum Price Prediction: 2026 ](https://assets.bitdegree.org/crypto/storage/media/Ethereum-price-prediction-2020.o.jpg?tr=w-400)Cryptocurrencies Ethereum Price Prediction: 2026](https://www.bitdegree.org/crypto/tutorials/ethereum-price-prediction-2020) ## Conclusion If you google the words, “*buy Bitcoin lowest fees*”, you get **thousands of results**. Most of the sites claiming to have the lowest Bitcoin fees are lying! *The truth is that buying Bitcoin is quite expensive*. So, don’t worry too much about the cheapest way to buy Bitcoin. Try to find [**the best place to buy Bitcoin for you**](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange). The first place you buy Bitcoin should be safe and easy to use. [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is both of these things *and* it’s cheap. *That’s why so many people recommend KuCoin to newbies*. Some buyers might care more about **privacy** than fees. For these people, I would suggest using a peer-to-peer exchange like **LocalBitcoins**. Or, if you want to *avoid the hassle*, altogether, you could just purchase BTC via [**Simplex**](https://www.bitdegree.org/crypto/goon/simplex?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin), with a credit card. They’re also a great way to get involved in the world of crypto. Remember, Bitcoin is more than just money. **Bitcoin is a new way for people to connect with each other**. Also, don't forget to **choose a secure wallet** for your Bitcoin. **[Ledger Nano X](https://www.bitdegree.org/crypto/goon/ledger-nano-x?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) and [Trezor Model T](https://www.bitdegree.org/crypto/goon/trezor-model-t?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)** are among the most recommended options. Verified Staff Pick ## UP TO \$500 IN BTC ### Ledger Flex x Monopoly Bitcoin New Year Exclusive Don’t just pass GO, snag the limited edition Ledger Flex x Monopoly Bitcoin bundle and get a mystery BTC voucher worth up to \$500. Hurry up, only available until the supply runs out\! Expiration date: 09/04/2026 1,423 People Used Only 11 Left Rating 5\.0 [Get deal](https://www.bitdegree.org/crypto/goon/ledger-flex-monopoly-bitcoin-bundle?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) *Let me know when you’ve made your first purchase of Bitcoin. I’d love to hear which method you used\!* *The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.* ## About Article's Experts & Analysts [![Jeff Burton EA Co-Founder and CEO at Woodside Creek Ventures](https://assets.bitdegree.org/images/jeff-burton.jpg?tr=w-70)](https://www.bitdegree.org/about-us/analysts#jeff) By [Jeff Burton](https://www.bitdegree.org/about-us/analysts#jeff) EA Co-Founder and CEO at Woodside Creek Ventures Co-Founder of EA (Electronic Arts). Serial entrepreneur and builder of global enterprises. Believer that technology and the unifying strength of multicultural exchange in the pursuit of problem-solving and business growth can lead to profound econ... **[Full Bio](https://www.bitdegree.org/about-us/analysts#jeff)** *** [![Aaron S. Editor-In-Chief](https://assets.bitdegree.org/images/aaron.jpg?tr=w-70)](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief) By [Aaron S.](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief) Editor-In-Chief Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W... **[Full Bio](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief)** **Behind every content piece, there is an Expert.**[Learn About Our Expert Contributors & Analysts](https://www.bitdegree.org/about-us/analysts) [![Aaron S. Editor-In-Chief](https://assets.bitdegree.org/images/aaron.jpg?tr=w-70)](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief) **[Aaron S.](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief)** Editor-In-Chief Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers. Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners. Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova. **[Full Bio](https://www.bitdegree.org/about-us/analysts/aaron-s-editor-in-chief)** [**See Our Experts**](https://www.bitdegree.org/about-us/analysts) [![Jeff Burton EA Co-Founder and CEO at Woodside Creek Ventures](https://assets.bitdegree.org/images/jeff-burton.jpg?tr=w-70)](https://www.bitdegree.org/about-us/analysts#jeff) **[Jeff Burton](https://www.bitdegree.org/about-us/analysts#jeff)** EA Co-Founder and CEO at Woodside Creek Ventures Co-Founder of EA (Electronic Arts). Serial entrepreneur and builder of global enterprises. Believer that technology and the unifying strength of multicultural exchange in the pursuit of problem-solving and business growth can lead to profound economic, social, and global benefits. Long-term personal network builder in Europe and Silicon Valley over the past 40 years resulting in strong, enduring professional relationships. **[Full Bio](https://www.bitdegree.org/about-us/analysts#jeff)** [**See Our Experts**](https://www.bitdegree.org/about-us/analysts) TOP3 Recommended Crypto Exchanges: [![Top Crypto Exchange](https://assets.bitdegree.org/images/kraken-review-horizontal-logo-v1.png)](https://www.bitdegree.org/crypto/kraken-review) 9\.8 [Read review](https://www.bitdegree.org/crypto/kraken-review) [![Top Crypto Exchange](https://assets.bitdegree.org/crypto/storage/optimized/BYDFi%20logo%20small.png)](https://www.bitdegree.org/crypto/bydfi-review) 9\.6 [Read review](https://www.bitdegree.org/crypto/bydfi-review) [![Top Crypto Exchange](https://assets.bitdegree.org/images/coinbase-review-horizontal-logo.png)](https://www.bitdegree.org/crypto/coinbase-review) 9\.4 [Read review](https://www.bitdegree.org/crypto/coinbase-review) *** How we review crypto exchanges - **1\.** Collect data based on user reviews. - **2\.** Investigate the crypto exchanges online. - **3\.** Usually, test the crypto exchanges ourselves. - **4\.** Evaluate & rank online crypto exchanges. - **5\.** Publish crypto exchange reviews & guides. 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Read all world-changing crypto news](https://www.bitdegree.org/crypto/news) [**See More News**](https://www.bitdegree.org/crypto/news) #### Leave your honest feedback Leave your genuine opinion & help thousands of people to choose the best crypto exchange. All feedback, either positive or negative, are accepted as long as they're honest. We do not publish biased feedback or spam. So if you want to share your experience, opinion or give advice - the scene is yours\! *** ## Recent User Reviews RC ### Reem Colley Feb 26, 2026 #### Interesting Interesting topic for everyone MS ### Megan Smit Feb 09, 2026 #### Excellent It’s easy to follow and everything is excellent L ### Lauren Feb 23, 2026 #### Trustful This is a trusted tutorial W ### Williams Feb 02, 2026 #### Very clear Tutorial is super clear LS ### Laura Sanchez Mar 15, 2026 #### Worth!\! Easy to understand & worth to read\! S ### SelfDepricator Feb 02, 2026 #### Always trustful BitDegree is always trustful :) S ### StandByMe1998 Feb 28, 2026 #### Recommend Highly recommend for anyone new in crypto B ### blahfugulhah Jan 01, 2026 #### Let share it Share it right away to all your friend so that they can prepare for crypto J ### justin.balwin Jan 03, 2026 #### Everything for beginner What a great topic for beginners B ### Beautiful\_Sun Feb 07, 2026 #### Help a lot The article saved beginners like me - [1](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#user-reviews-0) - [2](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#user-reviews-1) ## FAQ ### What is the cheapest way to buy Bitcoin? Out of all of the methods discussed in the article above, **[Binance](https://www.bitdegree.org/crypto/goon/binance?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is certainly the cheapest way to buy Bitcoin**. While the fees of Coinbase are still *somewhat noticeable*, the platform offers **absolute simplicity** and **the utmost security** - *combine that with the existing fees, and you've got yourself a great crypto broker on your hands\!* ### Should I buy Bitcoin via a peer-to-peer exchange? Buying Bitcoin on a peer-to-peer exchange, you can be sure that **you'll pay some of the lowest fees**, and will also **be a part of the broader Bitcoin community**. That being said, *there's a lot of uncertainty and even potential security issues involved* with purchase Bitcoin this way. If you **value** **security**, it's still a better idea to purchase your BTC [**on a reliable exchange**](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange), such as **[Binance](https://www.bitdegree.org/crypto/goon/binance?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**. ### How to pick the best crypto exchange for yourself? Picking out the **[best crypto exchange](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange)** for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess **top-tier security features,** but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario\! ### Which cryptocurrency exchange is best for beginners? Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are **very simple to use.** While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that **[KuCoin](https://www.bitdegree.org/crypto/goon/kucoin?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is one of the simpler exchanges on the current market.** ### What is the difference between a crypto exchange and a brokerage? In layman's terms, a cryptocurrency exchange is a place where you **meet and exchange cryptocurrencies with another person.** The exchange platform (i.e. [Kraken](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no "other person" - you come and **exchange your crypto coins or fiat money with the platform in question,** without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity. ### Are all the top cryptocurrency exchanges based in the United States? No, definitely not! While some of the **top cryptocurrency exchanges** are, indeed, based in the United States (i.e. [KuCoin](https://www.bitdegree.org/crypto/goon/kucoin?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) or [Kraken](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)), there are other very well-known **industry leaders that are located all over the world.** For example, [Binance](https://www.bitdegree.org/crypto/goon/binance?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform. ![Squeeze Me In](https://assets.bitdegree.org/assets/subscribe.svg) Get Daily Crypto Insights That Finally Click Join 120,000+ Daily Squeeze subscribers and get our 5 min newsletter with the juicy insights, and tips to spice up your investment game daily. 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**Satoshi Nakamoto** created the first [**Bitcoin**](https://www.bitdegree.org/crypto/buy-bitcoin-btc) in 2009. In the years since then, Bitcoin has changed the way the world thinks about money. Today, all the Bitcoins in the world are worth **more than \$156 billion**\! Buying your first Bitcoins can be *a confusing experience,* unless you choose **reliable cryptocurrency exchange** platforms, such as [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin), **[Binance](https://www.bitdegree.org/crypto/goon/binance?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)** **and [Coinmama](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**. | | ![Kraken logo](https://assets.bitdegree.org/images/kraken-review-horizontal-logo-v1.png)[KRAKEN](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) | ![Binance logo](https://assets.bitdegree.org/images/binance-review-squarel-logo.png)[BINANCE](https://www.bitdegree.org/crypto/goon/binance-register?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) | |---|---|---| | Overall Score | 9\.8 | 7\.9 | | Best For | Beginners | Advanced Users & Beginners | | Operating Countries | United States, Germany, United Kingdom, France, Canada, + 190 more | Turkey, Argentina, Vietnam, Ukraine, + 180 more | | Latest Coupons | [GET 25 USD IN BTC](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) [All Kraken Coupons](https://www.bitdegree.org/crypto/deals/kraken-referral-code) | [See All Coupons of Best Exchanges](https://www.bitdegree.org/crypto/deals) | | Verdict | **One of the best crypto exchanges, especially in the US.** | **One of the leading crypto exchange platforms in the industry.** | | Supported in Canada | Supported ✅ | Not Supported ❌ | | | [Visit site](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) [Read review](https://www.bitdegree.org/crypto/kraken-review) | [See TOP10 Brands](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange) [Read review](https://www.bitdegree.org/crypto/binance-review) | *Table: Some general information about the Binance and Kraken cryptocurrency exchange platforms* There are [**a lot of different places** **to buy Bitcoin**](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange). All these places offer different ways to buy Bitcoin. Each method of buying Bitcoin will have **its own fees**. Some of the things that can affect the fees you pay are: - Where you live; - How you’re paying; - What kind of buyer you are. In this guide, I will tell you about **the cheapest way and the best place to buy Bitcoin**. I will include **the best site** to buy Bitcoins, **the cheapest** **Bitcoin exchange**, and how to buy Bitcoin **without fees**. When you have finished reading this guide, you will be able to decide where you want to buy your first Bitcoins from. *You will also know how you want to pay for them.* Before I begin, it’s important for you to know **what kind of Bitcoin buyer you are**. [![Jeff Burton EA Co-Founder and CEO at Woodside Creek Ventures](https://assets.bitdegree.org/images/jeff-burton.jpg?tr=w-150)](https://www.bitdegree.org/about-us/analysts#jeff) *Jeff Burton* EA Co-Founder and CEO at Woodside Creek Ventures How can cryptocurrencies facilitate financial inclusion? The appearance of cryptocurrencies has opened possibilities for billions of unbanked individuals to begin building their own wealth, education, and development. Cryptocurrencies have forced elite financial institutions to reconsider their operations and very existence. Starting with exceptionally small sums of cryptocurrencies, anyone in the world can learn the basics of how finance can improve their lives, thus engaging them further in the world order. ![What is a Crypto Bridge? (Explained with Animations)](https://assets.bitdegree.org/crypto/assets/images/compare-crypto-exchanges.gif) Did you know? Want to get smarter & wealthier with crypto? Subscribe - We publish new crypto explainer videos every week\! What is a Crypto Bridge? (Explained with Animations) ![What is a Crypto Bridge? (Explained with Animations)]()![What is a Crypto Bridge? (Explained with Animations)](https://assets.bitdegree.org/crypto/assets/video-button.png?tr=w-85) ### Table of Contents - [1\. Cheapest Way to Buy Bitcoin: What Kind of Buyer Are You?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#cheapest-way-to-buy-bitcoin-what-kind-of-buyer-are-you) - [2\. Coinbase](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#coinbase) - [2\.1. Coinbase Fees](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#coinbase-fees) - [2\.2. Is Coinbase the Best Place for You to Buy Bitcoins?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#is-coinbase-the-best-place-for-you-to-buy-bitcoins) - [3\. Other Broker Exchanges](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#other-broker-exchanges) - [3\.1. CEX.IO - Buy Bitcoin Now](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#cexio-buy-bitcoin-now) - [3\.2. Coinmama - Buy Bitcoin Now](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#coinmama-buy-bitcoin-now) - [4\. Which is the Cheapest Bitcoin Exchange?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#which-is-the-cheapest-bitcoin-exchange) - [5\. Buying Bitcoins Peer-to-Peer](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#buying-bitcoins-peer-to-peer) - [5\.1. Is LocalBitcoins the Cheapest Way to Buy Bitcoin Peer-to-Peer?](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#is-localbitcoins-the-cheapest-way-to-buy-bitcoin-peer-to-peer) - [6\. Buying Bitcoin from an ATM](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#buying-bitcoin-from-an-atm) - [7\. How to Buy Bitcoin Without Fees](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#how-to-buy-bitcoin-without-fees) - [8\. Bitcoin Storage](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#bitcoin-storage) - [8\.1. Next steps](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#next-steps) - [9\. Conclusion](https://www.bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#conclusion) ## Cheapest Way to Buy Bitcoin: What Kind of Buyer Are You? People have *lots of different reasons* for choosing where and how they buy Bitcoin. Here are some of the most popular reasons: Latest Changelly Coupon Found: - **Anonymity** \- Bitcoin allows people to **send money to each other directly**, **without using a bank and without having to share personal details with anyone**. This is called **anonymity**. For some buyers, anonymity is the most important reason for buying Bitcoin. *This means that they need to find a place to buy Bitcoin where they can stay anonymous\!* - **Community** \- Some buyers are really interested in [**cryptocurrency**](https://www.bitdegree.org/crypto/tutorials/what-is-a-cryptocurrency) and [**blockchain technology**](https://www.bitdegree.org/crypto/tutorials/blockchain-explained). They want to be part of **the crypto community**. For these buyers, it will be important to buy Bitcoin in a place where they can mix with the Bitcoin community. *This might be online or in-person.* - **Ease of Use** \- How **easy** it is to buy Bitcoin is very important for crypto beginners. Newbies need to find a place where buying Bitcoin is **simple**. - **Security** \- Everyone wants to be safe when they’re making a purchase. *Some ways of buying Bitcoin are safer than others\!* One thing that all these kinds of buyer have in common is that they want to **find the cheapest place to buy Bitcoin**. So, whatever kind of buyer you are, I can help you find the cheapest way to buy Bitcoin that fits your needs. One of the most popular places for newbies to buy their first Bitcoins is [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin). It's reliable, easy-to-use, and allows you to **purchase Bitcoins using fiat money**. *What about Coinbase - is it the best site to buy Bitcoins, though?* Let’s see. The Most Liked Findings Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look\! ## Coinbase [![cheapest way to buy bitcoin in coinbase](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins.png)](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) **Coinbase** is a Bitcoin *broker exchange*. This means **it buys Bitcoin for you**! All you need to do is **open an account** and decide how much Bitcoin you want to buy. To pay for your Bitcoin, you’ll need some [**fiat currency**](https://en.wikipedia.org/wiki/Fiat_money). *Note: A fiat currency is the legal money of a country. For example, the fiat currency of France is the Euro (EUR).* Coinbase is **based in the US**, and is **available in 32 countries around the world**. They include **Canada**, **Australia**, **Singapore**, the **United States** and numerous European countries that are in the [**SEPA**](https://en.wikipedia.org/wiki/Single_Euro_Payments_Area). *Note: The SEPA is the Single Euro Payments Area. If you live in the SEPA then you can send Euros between SEPA countries quickly and easily. However, if you live in a SEPA country that doesn’t use the Euro as its fiat currency - like Great Britain - then your bank may charge you a currency conversion fee to use SEPA services.* ### Coinbase Fees You will pay **at least 1.49%** **of your purchase amount** **as a fee** when you buy Bitcoin with Coinbase. You will pay this if you deposit fiat currency into your Coinbase account before you buy Bitcoin. *Coinbase doesn’t charge for deposits of fiat currency made by bank transfer*. Coinbase will charge **at least 3.99% of your purchase amount** **if you use a credit or debit card** to buy Bitcoin. *Note: If you use Coinbase in Canada or Australia you will only be able to buy Bitcoin with a credit or debit card.* ### Is Coinbase the Best Place for You to Buy Bitcoins? Some critics think that Coinbase operates too much like *an online shopping app*. If you want to meet *the hardcore crypto community*, it’s probably not at Coinbase! Coinbase also isn’t for users who want anonymity, either. *In February 2018, Coinbase gave the American taxman the account details of [13,000 of its users](https://en.wikipedia.org/wiki/Coinbase)\!* However, **Coinbase is a very easy platform to use**. It also has **a great safety record**. Coinbase **has never been hacked** and around 98% of its funds are stored [**offline**](https://www.bitdegree.org/crypto/cold-wallet). *It’s the perfect place for most crypto newbies to buy Bitcoin.* Let’s have a look at the fees of a couple of other broker exchanges to see if Coinbase is the cheapest way to buy Bitcoin. ## Other Broker Exchanges There are *a few other brokers* that offer similar services to Coinbase. But which is the cheapest Bitcoin exchange? ### CEX.IO - [Buy Bitcoin Now](https://www.bitdegree.org/crypto/goon/cex-io?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) **[CEX.IO](https://www.bitdegree.org/crypto/goon/cex-io?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)** is a broker exchange based in London. It offers services in **99% of the countries in the world**, and **24 states of the US** (*it doesn’t operate in New York*). ![cheapest way to buy bitcoin on cex](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins-1.png) **CEX.IO charges 7% to buy Bitcoin using a credit or debit card**. CEX.IO charges lower fees if you deposit money into your account before you buy. You can make deposits by bank transfer with **US dollars** (*USD*), **British Pounds** (*GBP*) and **Euros** (*EUR*) **for free**. CEX.IO fees are then based on whether you are a *maker* or a *taker*. **A** **maker** is someone who is willing to buy or sell Bitcoin for a price that isn’t already being offered on the exchange. **A taker** is someone who wants to buy or sell Bitcoin for a price that is already being offered. A taker will get their order for Bitcoin filled immediately. *A maker will have to wait until a taker accepts their price.* Brokers bring makers and takers together. **CEX.IO charges takers 0.25%**. This is based on a purchase of less than 5 BTC (*which is worth about \$48,000*). Charges for makers are less (**0\.16%**), but most beginners will be takers because it’s an easier trade. CEX.IO is a safe platform, but it might be *a little too complicated* for beginners. The cheapest way to buy Bitcoin quickly is still [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin). Let’s have a look at **[Coinmama](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**, and see if this platform is the cheapest way to buy Bitcoin. ### Coinmama - [Buy Bitcoin Now](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) ![cheapest way to buy bitcoin on coinmama](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins-2.png) [**Coinmama**](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is a broker exchange based in Israel. It offers services to **over 180 countries around the world**. Coinmama offers *very similar services* to [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin), but which is the best site to buy Bitcoins? **You can’t deposit money on Coinmama**, so you need to pay with a credit card, debit card, or Western Union payment. You can **only BUY** Bitcoin with Coinmama. If you want to sell it later, you’ll have to [**use another exchange**](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange). *Coinmama has very limited features, but what about its fees?* Coinmama charges **a fee of 5.9% for every purchase of Bitcoin**. It adds **another 5% fee** for purchases using a credit or debit card. *You can expect to pay nearly 11% in total*. **Coinmama is one of the more expensive brokers**, but it has some good qualities too. Coinmama is **easy to use** and it’s **fast**. Card registration isn’t needed to make a purchase, and card details aren’t stored on the main site. *This makes Coinmama one of the safest and more anonymous places to buy Bitcoin.* ## Which is the Cheapest Bitcoin Exchange? [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is the *quickest and cheapest way to buy Bitcoin* out of the four brokers I’ve talked about. [**CEX.IO**](https://www.bitdegree.org/crypto/goon/cex-io?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) has better trading options, and [**Coinmama**](https://www.bitdegree.org/crypto/goon/coinmama?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is better for privacy. However, **KuCoin offers some of the lowest fees in the market for direct purchases with credit and debit cards**. *I know what you’re thinking\!* You’re thinking, “*hey, I thought Bitcoin was supposed to be a new kind of money? Why should I pay fees to exchanges!?*” **A lot of Bitcoin users feel this way**. Bitcoin is **a [*peer-to-peer*](https://en.wikipedia.org/wiki/Social_peer-to-peer_processes) currency**, so you should be able to buy it from **a peer-to-peer exchange**. *Don’t worry, you can\!* *Note: Peer-to-peer means from one person to another. Bitcoin is peer-to-peer because users can send each other Bitcoins without using a bank. A bank is a third party, or middleman. Bitcoin - and all other cryptocurrencies - don’t need third parties for them to work.* *However, when you buy Bitcoin on an exchange - like Coinbase - you are using a third party. Some crypto fans don’t want to use third parties at all\!* Are peer-to-peer exchanges the cheapest way to buy Bitcoin? Let’s find out. ## Buying Bitcoins Peer-to-Peer One of the most popular peer-to-peer exchanges is **LocalBitcoins**. LocalBitcoins is based in Finland, and allows its users to trade Bitcoins with each other directly. *This means that you can use LocalBitcoins to buy Bitcoins from people in your local area\!* ![cheapest way to buy bitcoin](https://assets.bitdegree.org/online-learning-platforms/storage/media/2018/05/Cheapest-Way-To-Buy-Bitcoins-3.png) LocalBitcoins has traders willing to sell Bitcoin in **more than 15,000 cities in 248 different countries**. The traders on LocalBitcoins pay a fee to advertise their Bitcoin. *Buyers don’t pay anything\!* There are **many different payment methods** available on LocalBitcoins. You can pay traders with **PayPal**, **bank deposits**, **bank transfers**, **credit cards**, and even **cash**\! LocalBitcoins is one of the few exchanges that **encourages its users to meet each other in person to buy and sell Bitcoin**. This makes it a great platform for users who want to be a part of the crypto community. For security, LocalBitcoins has **a user rating feature**. It also has good customer support services. These include *conflict resolution* and *escrow holding.* It is **important to** **be careful** when buying Bitcoins peer-to-peer. Learn as much as you can about the seller before you buy. If you meet a seller in person, always do it in a public place and take a buddy with you\! ![What Is Tether? (USDT SIMPLY Explained With Animations)](https://assets.bitdegree.org/crypto/assets/images/compare-crypto-exchanges.gif) Did you know? Want to get smarter & wealthier with crypto? Subscribe - We publish new crypto explainer videos every week\! What Is Tether? (USDT SIMPLY Explained With Animations) ![What Is Tether? (USDT SIMPLY Explained With Animations)]()![What Is Tether? (USDT SIMPLY Explained With Animations)](https://assets.bitdegree.org/crypto/assets/video-button.png?tr=w-85) ### Is LocalBitcoins the Cheapest Way to Buy Bitcoin Peer-to-Peer? There are **no fees**, and you don’t have to give any personal information when you buy Bitcoin with LocalBitcoins. *Users can stay anonymous, and meet the crypto community\!* However, sellers often charge more for Bitcoins than some exchanges do. This means that LocalBitcoins isn’t always the cheapest way to buy Bitcoin. Other peer-to-peer Bitcoin exchanges include the **Wall of Coins**, **Paxful**, **and BitQuick**. These exchanges tend to have higher fees than LocalBitcoins, and offer **fewer services**. For example, Wall of Coins is only available in 12 countries, and BitQuick charges buyers **a 2% fee**. *LocalBitcoins is the best and cheapest way to buy Bitcoin peer-to-peer.* I know when I want some cash, I go to the ATM. Let’s look at where you can buy Bitcoin from an ATM. ## Buying Bitcoin from an ATM **A Bitcoin ATM** is a cash machine where you can buy Bitcoin. **[CoinATMRadar](https://coinatmradar.com/)** lists the locations of Bitcoin ATMs in over 60 different countries. Bitcoin ATMs can be **fully anonymous**. They are also a safer way to buy Bitcoins than peer-to-peer. However, Bitcoin ATMs can cost a lot more than other ways of buying Bitcoin. *Let’s use an example to see the difference:* *Mario lives in San Diego, California, and wants to buy 1 BTC. Mario uses Coinbase and pays with a credit card. Coinbase offers 1 BTC for \$9,633. Mario pays about **\$10,018** after a fee of 3.99% is added.* *Mario’s brother, Wario, also lives in San Diego and wants to buy 1 BTC. He goes to the Bitcoin ATM at The Cage Smoke Shop on El Cajon Boulevard. The ATM charges Wario **\$****10,420.36**. That’s over \$400 more than Mario paid\!* Buying Bitcoin from ATMs is **quick**, **anonymous**, and **safe**. *It isn’t the cheapest way to buy Bitcoin, though.* When you buy Bitcoin you need somewhere to store it. To use any of the methods I’ve talked about you will need [**a Bitcoin** **wallet**](https://www.bitdegree.org/crypto/best-bitcoin-wallet)*.* ## How to Buy Bitcoin Without Fees *Remember when I told you that [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) doesn’t charge fees for deposits?* Well, Coinbase has a sister company called **GDAX**. When you sign up for a Coinbase account, you also get access to GDAX. **GDAX doesn’t charge maker fees**. This means that you can buy Bitcoin without paying any fees\! ![Cheapest way to buy Bitcoin: GDAX.](https://assets.bitdegree.org/crypto/storage/media/cheapest-way-to-buy-bitcoin-gdax.o.jpg) To do this, you need to transfer funds from Coinbase to GDAX (*for free*). Then you need to submit a buy order that isn’t already available on the exchange. *This is a maker order*. It might take some time for your order to be filled. When the order is filled, you’ll receive the Bitcoin you ordered. *With no fee\!* *This is the cheapest way to buy Bitcoin without paying fees\!* ## Bitcoin Storage **Bitcoin wallets** are where you keep all the codes you need to access your Bitcoin. A wallet can be **software**, **hardware**, **online**, or **offline**. *It can even be a piece of paper\!* It is recommended that you use more than one kind of wallet to store your Bitcoin. Currently, the most recommended wallets are **hardware ones**, including such products as **[Ledger Nano X](https://www.bitdegree.org/crypto/goon/ledger-nano-x?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) and [Trezor Model T](https://www.bitdegree.org/crypto/goon/trezor-model-t?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**. They're highly secure and reliable, as your private keys will be kept offline\! *Wallets are very important, so keep them secure\!* ![Kraken Review](https://assets.bitdegree.org/images/kraken-review-horizontal-logo-v1.png) **Pros** - Secure and reliable - Accepts fiat currencies - Lots of trading options **Main Features** - Reputable exchange - Accepts fiat currencies - Offers various trading options ![BYDFi Review](https://assets.bitdegree.org/crypto/storage/optimized/BYDFi%20logo%20small.png) **Pros** - Huge trading variety - Regulation-compliant around the globe - Fair trading fees **Main Features** - Beginner-friendly - A wide array of features - Vast number of different crypto coins & tokens ![Coinbase Review](https://assets.bitdegree.org/images/coinbase-review-horizontal-logo.png) **Pros** - Accepts fiat currencies - Simple to use - Supports only trusted cryptocurrencies **Main Features** - A leading cryptocurrency exchange platform - Best for all type investors - Accepts fiat currencies ### Next steps In this guide, I’ve told you about the cheapest place to buy Bitcoin. You’ve also learned about how to buy Bitcoin without fees. There are other places to try though. As you become more confident, you can try buying Bitcoin on a professional trading exchange like **[Bitstamp](https://www.bitdegree.org/crypto/goon/bitstamp?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)** or **[Kraken](https://www.bitdegree.org/crypto/goon/kraken?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)**. *If you’re ready to start trading like a pro, check out our [**Kraken VS Bitstamp comparison**.](https://www.bitdegree.org/crypto/tutorials/bitstamp-vs-kraken)* Let’s finish with a few final thoughts. The Most Trending Findings Browse our collection of the most thorough Crypto Exchange related articles, guides & tutorials. Always be in the know & make informed decisions\! ## Conclusion If you google the words, “*buy Bitcoin lowest fees*”, you get **thousands of results**. Most of the sites claiming to have the lowest Bitcoin fees are lying! *The truth is that buying Bitcoin is quite expensive*. So, don’t worry too much about the cheapest way to buy Bitcoin. Try to find [**the best place to buy Bitcoin for you**](https://www.bitdegree.org/crypto/best-cryptocurrency-exchange). The first place you buy Bitcoin should be safe and easy to use. [**Coinbase**](https://www.bitdegree.org/crypto/goon/coinbase?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) is both of these things *and* it’s cheap. *That’s why so many people recommend KuCoin to newbies*. Some buyers might care more about **privacy** than fees. For these people, I would suggest using a peer-to-peer exchange like **LocalBitcoins**. Or, if you want to *avoid the hassle*, altogether, you could just purchase BTC via [**Simplex**](https://www.bitdegree.org/crypto/goon/simplex?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin), with a credit card. They’re also a great way to get involved in the world of crypto. Remember, Bitcoin is more than just money. **Bitcoin is a new way for people to connect with each other**. Also, don't forget to **choose a secure wallet** for your Bitcoin. **[Ledger Nano X](https://www.bitdegree.org/crypto/goon/ledger-nano-x?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin) and [Trezor Model T](https://www.bitdegree.org/crypto/goon/trezor-model-t?bd_ref=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Fcheapest-way-to-buy-bitcoin)** are among the most recommended options. *Let me know when you’ve made your first purchase of Bitcoin. I’d love to hear which method you used\!* *The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.*
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