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The question is simple. But vast. buy bitcoins, there are several ways to do this. Go through a stock exchange, an online site or use PayPal. There are many ways to buy Bitcoin today, and this article details the steps to get it. As this asset evolves over time, it is possible to buy it at market price. But also be supported by its evolution through an ETF or speculate through futures contracts (CFDs)..
This cryptocurrency, , which appeared in 2008it was created by one or more people who remain unknown to this day. The purpose of this cryptocurrency is to have a finite value and to operate without a central bank. A decentralized network of validators is used to mine and then validate the transactions made by the users. Also, this currency allows for maintain user anonymity. In fact, only the sending and receiving addresses appear and not the names of the users.
How to buy Bitcoin in a few steps?
In 2022, it is now very easy to buy Bitcoinwith a buy order of only 10 euros for most brokers. Summarized in a few simple steps:
- Establish a strategy
This point, which will be developed below, is probably the most important. Why should one buy, what is the time horizon for this investment, the total amount of this project… In short, a key component that the investor should not overlook.
This is also an essential point. Which platform to choose, compare deposit and transaction fees, platform liquidity, means of payment… The investor should not overlook these points for his purchase orders and the impact of transaction fees on his positions.
This action is the first step towards buying Bitcoin. Some brokers accept different currencies. You can make deposits by bank transfer, card or PayPal deposit. There is no shortage of solutions.
- Place purchase orders
Buying Bitcoin will be through market orders or limit orders (when the price reaches a target value). Purchases will be made according to the investor's strategy.
The 4 best sites to buy Bitcoin
The table below lists the four platforms that enable fast and secure shopping with very competitive transaction fees.
| Platform | Binance | eToro | Coinbase | Creak |
| Minimum deposit | €1 by bank transfer | 250€. | 25€ | €1 by bank transfer |
| The plus | Very low transaction costs | Very easy to use interface | Very easy to use site and application | Bank transfers processed quickly |
| The - | Count 48 hours to open a verified account | Significant spreads and transaction fees | Transaction costs are quite high for recurring purchases | High transaction costs for such a large platform. |
| Our rating/opinion | 9/10 GB Despite a complex but very complete interface, Binance remains the great reference for the world of cryptocurrencies. | 7/10 GB Although the platform allows cryptocurrencies to be stored on a wallet, the commissions are penalizing for an investor who uses euros… | 8/10 GB To deposit and buy Bitcoins, this platform responds perfectly to the needs. However, it is not possible to store Bitcoin… | 8/10 I Easy to use interface, but high deposit fees when made by credit card |
Buy Bitcoin on Binance
Steps to buy Bitcoin on Binance
To buy Bitcoin on Binance, simply deposit funds with a bank transfer or card. It should be noted that bank charges are very different. For a transfer, they amount to the modest sum of 1 euro, regardless of the amount deposited. While for a card deposit you pay the fees 1,8% commission, deducted from the deposited amount.
Once the funds have been deposited, you can access the page ” Spot“Click on the “Simple” item to access the trading screen. From there, simply select the pair” BTC / EUR ” if the amount deposited is in euros. Note that there are many currencies with which you can buy Bitcoin. Binance is the broker that offers the largest number of currencies, both fiat and cryptocurrencies.
Once you've found the pair you want, it's time to proceed with the purchase. To do this, click on "100%" to make a transaction with all available funds. And click on " buy BTC“. The order will be realized on the market and executed within one second.
The big advantage of Binance is that some cryptocurrencies have a 0% of transaction fees. Currently, this is the case with Bitcoin. In conclusion, the euro to Bitcoin transaction costs nothing. Only the deposit will have had an impact on the investor's initial funds.
Buying Bitcoin on Binance: our opinion
On Binance, buying Bitcoin is pretty boring. It takes several steps before you can place your order, and it takes many clicks, where competitors offer the possibility of fulfilling the order in just three or four clicks and without changing the web page..
Although this remains the broker of choice, thanks to its extremely low commissions and the quality of the service offered, Binance is aimed at people who have taken the time to get to know how it works.
Note that Binance is the only broker that offers Bitcoin staking.. This means that if the investor decides to keep his funds on the platform, they can work and produce an additional return. This return is limited to a certain amount.
Buy Bitcoins on eToro
Buy Bitcoin on eToro step by step
On the eToro platform, the steps are practically the same as on Binance, especially when it comes to depositing funds. It will be done with few commissions Also in this case, payment will be made by bank transfer.
After that, simply open an eToro wallet. This allows you to store cryptocurrencies in a personal wallet.
Next, you need to proceed to opening a position. To do this, choose Bitcoin from the main menu drop-down list. Then click on the "buy" button. Once the information has been entered, the platform will ask for the desired quantity, so all that remains is to place the order.
Once the order has been executed, you can transfer the position by clicking on ” modify the operation “. Then on ” transfer option “. Once the transaction is completed, the funds are transferred to eToro's wallet for safekeeping.
Buying Bitcoin on eToro: our review
This platform allows to trade and trade both cryptocurrencies and a large number of stocks and ETFs. It also allows you to trade leveraged futures contracts, all with a very easy to use interface.
Also, in terms of security, eToro is known to be safe and reliable, just like its new cryptocurrency wallet. The PSAN certification to operate in France also demonstrates the reliability and seriousness that eToro puts into the development of its products.
Buy Bitcoin on Coinbase
Steps to buy Bitcoin on Coinbase
Again, the first step will be the deposit of funds, via bank transfer.
Buying Bitcoin can be done in two different ways. The first is to place an order by pressing the "buy/sell" button at the top of the window. At this point, simply enter the amount, in euros, of Bitcoins to buy. Then validate the transaction.
Buying Bitcoin on Coinbase: our opinion
When buying Bitcoins, Coinbase's interface is very intuitive and the passages are clearly identified.
The commissions, still acceptable, allow for regular investments, ideal for an investor who wants to place orders on a regular basis (DCA type, one purchase per month).
The big difference is that it is not possible to operate in Bitcoin, as Binance offers. A defined list of cryptocurrencies are still eligible for the stake, but Bitcoin is not one of them.
Buy Bitcoin on Kraken
Buy Bitcoin on Kraken step by step
To make a purchase on Kraken you must have a verified account and an initial deposit, by card or bank transfer. The transaction to get Bitcoins is also simple.
On the home screen, choose the pair BTC / EUR. Then click on this pair. With the screen " Simple trading” Simply enter the desired amount in Bitcoin or the amount in euros for the transaction. Then click on ” Buy BTC ” and confirm the order. Bitcoin available in Kraken wallet.
Buying Bitcoin on Kraken: our opinion
Kraken offers a very simple interfaceThe fees remain acceptable and allow for a smooth investment. Bitcoin stake is not available.
More ways to buy Bitcoin
Buy Bitcoin with credit card
This type of purchase, available on all major exchanges, remains interesting for a quick and easy investment. It's like making a classic purchase on the internet… The advantage is that it is done quickly and funds are immediately available. The disadvantage of this management is that it goes through an intermediary.
This results in slightly higher costs than a purchase by bank transfer. Costs range from 1% for the cheapest, up to 2% per transaction. This can be detrimental if you make several purchases in a short period of time.
Buying Bitcoins with Paypal
PayPal allows you to deposit funds quickly too. It is one of the most efficient brokers in this field.
The advantage is that the transaction takes place without major delays and the funds are quickly deposited on the platform.
However, some exchanges do not support this type of deposit, so you need to take precautions e confirm the possibility of making a deposit via PayPal before choosing the broker for this investment..
How to buy Bitcoin anonymously?
There are several ways to buy Bitcoin anonymously. Even if these solutions tend to disappear with European regulations that continue to push the limits of the requirements.
The first solution, for an anonymous online purchase, is to go through a broker who does not check the identity of the traders. The broker acts only as an intermediary and connects sellers and buyers whose identities are not known.
The advantage of this is that it allows you to receive Bitcoins directly in your wallet.. The downside is that some sellers may refuse the transaction if the identity is not verified and known. So a transaction that may fail.
How to buy Bitcoin with cash?
For a cash purchase, it is possible to go through a physical terminal where you can deposit euros in cash. The transaction amount cannot exceed 500 euros. But this allows you to make a direct transaction without using the card and therefore without any payment trace.
The downside is the lack of physical boundariesIn France, for example, there are kiosks only in Paris, Lyon and Montpellier. This can lead to high travel costs for this medium of transaction… Also, French government regulations make it nearly impossible to add this type of ATM…. This is due to the risk of fraud and the volatility of Bitcoin.
Platform selection criteria
Choice of platform it is a vital step for cryptocurrency purchases. The investor should take the time to inform himself about the bona fides of the platform and the available liquidity, and above all if it is subject to revision. This eliminates the risk of losing funds due to a serious liquidity problem on this platform.
Furthermore, look at the transaction fees. If these are significant, a regular investment will suffer over time.
Finally, the transparency of a platform is essential. Be wary of brokers whose results, total amounts or available liquidity are not published.
I bought my first BTC, now what?
After the purchase, there are several strategies. A trader waits for a certain target to sell his Bitcoin. An investor can keep them for several months/years, deciding whether to make them profitable or not..
How can I use my bitcoins?
You can use these Bitcoins in different ways.
The first, spend it on online purchases, through numerous sites that take into account this type of payment. Also, it is possible to operate Bitcoins. On Binance, staking pays out up to 5% per year. This flexible staking (funds can be recovered instantly) allows you to generate additional income.
Finally, it is possible to exchange Bitcoin with other cryptocurrencies. To make the trade, the user can go through a centralized exchange which will carry out the transaction. Or through a decentralized network that will allow these Bitcoins to be exchanged directly through a project's Blockchain network.
What future for Bitcoin?
While this technology seems revolutionary to some, it's even more embarrassing for others. Starting with many European countries that are trying to heavily regulate exchanges and centralized platforms. France, for example, has limited the platforms to spot trading only. It is no longer possible to access derivative contracts or leveraged tokens.
While this regulation is strong, Bitcoin is resilient and its technology remains decentralized, allowing you to trade without the need for a third party. This means that it is possible to trade without resorting to third parties and therefore without using any platform.
Its price, however, remains a matter of speculation.. The vast majority of people who buy cryptocurrencies do so with the hope of making a fortune in a short time. This has been true in the past. But we must not forget that Bitcoin's volatility is extreme and its price can fluctuate by as much as ten percent in a few hours.
Finally, Bitcoin is being adopted by more and more people and businesses. This development has attracted institutional investors to invest their funds and a derivative product (ETF) provides exposure to the price of Bitcoin, through the traditional stock market.. This development demonstrates that the Bitcoin is interesting. And it will certainly have a role to play in the years to come.
