Cheapest Way to Buy Bitcoin in 2019

Cheapest Way to Buy Bitcoin in 2019

In this surge of the cryptocurrency market and the popularity is increasing day by day, people think of the most affordable way to buy Bitcoin to earn a lot of profit in this industry. There are plenty of ideas for your question “what is the cheapest way to buy bitcoin in 2019”? Some of the methods are cheaper than others. Purpose of writing this article is to find out the most cost-effective way to purchase bitcoins.

Buying the first Bitcoin can be a confusing or perplexing experience. There are many platforms to purchase bitcoins, and every platform provides different options to buy bitcoin. Each method involves its fees

Some of the things that affect the transaction charges are:

  • Where you reside
  • Process of paying
  • Kind of buyer

What kind of buyer you are.

  • Anonymity- Bitcoin allows people to send money directly without using a bank or sharing
    personal details. This is called anonymity.
  • Community- Many buyers want to be part of the crypto-currency market that
    uses blockchain technology.
  • Ease of using- Newbies need to buy a place where buying cryptocurrency is pure.
  • Security- Everyone wants to be safe while purchasing bitcoins, and some ways of buying are more reliable than others.

For example, there are some platforms to buy Bitcoins like Coinbase, CoinMama, Cex.io. Here are some
details about these exchanges.

Coinbase:

This is a bitcoin broker exchange platform. It helps you bitcoin for you. Coinbase is based in the USA and is available in 32 countries. The fees for Coinbase transaction are 1.49% of your purchase amount. Coinbase does not charge for deposits of fiat currency made through bank transfer. Coinbase charges at least 3.99% if credit and debit card is used to buy bitcoin.

CoinMama:

This broker exchange is based in Israel. It offers services to more than 180 countries around the world. You cannot submit money on CoinMama, so you need to pay with a credit card or debit card or western union payment. CoinMama charges a fee of 5.9% for every bitcoin purchase. It also charges an additional 5% fee on purchasing using a credit or debit card.

CEX.io:

CEX broker exchange is based in London, and it offers services in almost all the countries in the world and 24 states of the USA. CEX charges a 7% fee to purchase bitcoins using a credit or debit card. Its charges very lower prices for depositing money in the account before buying.

Which Is the Cheapest Bitcoin Exchange?

Coinbase is the cheapest and quickest way to buy Bitcoin out of the above three brokers. CEX provide better trading options, and CoinMama is better for privacy. Coinbase offers the lowest fees for direct purchases with credit and debit cards.

Buying Bitcoins Peer to Peer

One of the best peer to peer exchange is LocalBitcoins. It is based in Finland that allows users to trade Bitcoins directly. LocalBitcoin has traders willing to sell Bitcoin in more than 15,000 cities. There are many different payment methods offered by LocalBitcoins using PayPal, bank deposit, bank transfers, and credit card.

There are no fees, and you do not need to provide any personal information while buying bitcoin with LocalBitcoins. Users can stay anonymous and have contact with the crypto community.

Buying Bitcoins from an ATM

A bitcoin ATM works like a cash machine where bitcoins can be purchased. CoinATMRadar helps locate Bitcoin ATM in over 60 different countries. A bitcoin ATM can work on anonymity. There is a much safer way to buy bitcoins than peer to peer. A bitcoin ATM can cost a lot more than purchase bitcoins in other ways. It is not the cheapest way to buy bitcoin but buying Bitcoin from Bitcoin ATM is quick, safe, and anonymous.

Way to Buy Bitcoin without Fees

As described above, Coinbase does not charge fees for deposits. Coinbase also has a sister company named GDAX. When you sign up in a Coinbase account, you also get access to GDAX. GDAX does not charge any maker fees. This helps in buying Bitcoin without paying any fees. You need to transfer funds from Coinbase to GDAX, and it is free. After that, you need to submit a buy order that is not available on the exchange. This works as a maker order. It could take some time for your order to be filled. Once the order is filled, you can receive the bitcoins you purchased. Without any fee!

Setting Priorities Straight

While recommending the cheapest way to buy bitcoin, it is necessary to take into account the needs of an individual buyer. Inexperienced traders look for a beginner-friendly platform, and it simplifies buying cryptocurrencies to the required extent.

Some reputed exchange platform emphasises security, but fees are higher. Again, it comes down to an individual’s priority whether he is willing to deal with less trusted and reputed platform for lower costs return. Some individuals are not willing to disclose identity while transacting. CoinMama is the best for Bitcoin exchange with credit card anonymously.

Buying Bitcoin Outside the US

If you are residing in the US, you would like to explore different international exchanges to save some money. A prominent crypto investor Brian Kelly recommended that Bitcoin price could be drastically different on American and Asian exchanges when the market turns to bullish. Usually, the price gap remains 2-3 per cent, but it could reach 10 per cent during high market volatility.

7 Best Platforms to Buy Bitcoin in 2019

  1. Coinbase
  2. ProBit Exchange
  3. CoinMama
  4. GDAX
  5. CEX.io
  6. BitQuick
  7. LocalBitcoin

All these platforms have their advantages and features to go for the cheapest way to buy bitcoin in 2019. You need to select which platform meets your requirement.

Conclusion:

If you google the word, the cheapest way to buy bitcoin in 2019. You will get lots of results. Most of the
platform claim to charge the lowest Bitcoin fees that is a lie. The truth is that buying Bitcoin is an
expensive way.

Before going for Bitcoin exchange, make sure the first place to buy bitcoin is safe and secure and easy to use. Coinbase is the platform that is recommended for newbies as it provides the cheapest service. In addition to it, an individual who wants privacy, for those peer to peer exchange like LocalBitcoin works well. There are some great ways to get involved in the cryptocurrency world.

Remember, Bitcoin is not just a digital currency or money. It is a new and best way to connect people. So
enjoy being a crypto-currency trader.

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