How to Buy Bitcoin (BTC)

See how you can buy Bitcoin online through a regulated broker or an exchange using your credit card, debit card or PayPal. We discuss 3 tried-and-tested strategies to get started.

Best brokers

  1. FxProAward Best MetaTrader Broker 2020
  2. FP MarketsAward Best FX Broker Australia 2021
  3. AvaTradeAward Best Mobile Trading Platform 2021
  4. LiteFinanceAward Best ECN Broker, Africa 2020
  5. PrimeXBTAward Best Platform for Margin Trading, 2020 - ADVFN

Broker reviews

FxPro (FxPro.com) is a global broker, winner of 95+ awards including "Best MetaTrader Broker" in 2020. Trade 250+ instruments across a wide range of asset classes on MT4/5 or cTrader. FxPro accepts all trading styles without restrictions.

  • Risk warning: 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Spread Betting work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
  • Regulators: Bahamas, Cyprus (EU), South Africa, UK

$500
deposit

1:200
leverage

Instant
execution

$500
deposit

1:200
leverage

Market
execution

$500
deposit

1:200
leverage

Market
execution

$500
deposit

1:200
leverage

Market
execution

$50000
deposit

1:200
leverage

Market
execution

FP Markets is a true ECN broker with razor-thin spreads and deep liquidity. Trade CFDs on over 1,000 stocks, indices, commodities and currency pairs through MetaTrader 4 or 5. FP Markets supports all trading styles and EAs.

  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, Copy trading
  • Regulators: Australia, Cyprus (EU), Saint Vincent and the Grenadines

$100
deposit

1:500
leverage

Market
execution

$100
deposit

1:500
leverage

Market
execution

$100
deposit

1:500
leverage

Market
execution

$100
deposit

1:500
leverage

Market
execution

AvaTrade (AvaTrade.com) is an award-winning online broker. Trade CFDs on Forex, crypto-currencies, shares, metals and more on MetaTrader 4 or 5. AvaTrade accepts all Expert Advisors except those with a focus on arbitrage.

  • Risk warning: 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, Copy trading
  • Regulators: Australia, BVI, Cyprus (EU), Gibraltar, Israel, Japan, South Africa, UAE

$100
deposit

1:400
leverage

Instant
execution

$100
deposit

1:30
leverage

Instant
execution

$100
deposit

1:400
leverage

Instant
execution

$100
deposit

1:30
leverage

Instant
execution

$100
deposit

1:400
leverage

Instant
execution

LiteFinance (LiteFinance.com), formerly LiteForex, is a global ECN broker. Trade CFDs on a wide range of markets on Metatrader 4 or 5, with flexible leverage up to 1:1,000. LiteFinance accepts all EAs and trading styles, including scalping and news trading.

  • Risk warning: 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
  • Regulators: Cyprus (EU), Saint Vincent and the Grenadines

$50
deposit

1:1000
leverage

Market
execution

$50
deposit

1:500
leverage

Market
execution

Start trading in minutes, without ID verification, when you fund your account with crypto. Easily buy crypto through its platform if you have none. PrimeXBT.com's trading platform was voted "Best Platform for Trading with Leverage" in 2020 and "Best Crypto and Forex Broker" in 2019.

  • Markets: Forex (CFD), Cryptos (CFD)*, Indices (CFD), Metals (CFD), Energy (CFD)
    * Availability subject to regulation.
  • Platforms: Copy trading, Mirror trading
  • Regulators: Saint Vincent and the Grenadines

$40
deposit

1:1000
leverage

Market
execution

Pepperstone (Pepperstone.com) is an award-winning broker regulated in 7 jurisdictions. Trade over 1,200 instruments on MetaTrader 4, 5 or cTrader. Pepperstone allows all trading styles, with no restrictions, and rewards large traders with volume-based discounts.

  • Risk warning: Between 74% and 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading, Mirror trading
  • Regulators: Australia, Bahamas, Cyprus (EU), Germany, Kenya, UAE, UK

$200
deposit

1:30
leverage

Market
execution

$200
deposit

1:30
leverage

Market
execution

$200
deposit

1:30
leverage

Market
execution

$200
deposit

1:30
leverage

Market
execution

$200
deposit

1:30
leverage

Market
execution

4xc.com is an offshore broker founded by Forex industry veterans. Trade Forex, metals, oil and stocks with leverage up to 1:500. 4XC accepts all trading styles and Expert Advisors on MT4 and 5.

  • Risk warning: Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of your deposits. You should carefully consider your financial situation and experience level before trading.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5
  • Regulators: Cook Islands

$10 (MT4), $ 100 (MT5)
deposit

1:500
leverage

Market
execution

$100
deposit

1:500
leverage

Market
execution

$25000
deposit

1:500
leverage

Market
execution

FXPRIMUS prides itself in creating a safe and secure trading environment. Trade CFDs on Forex, crypto-currencies, indices, metals and energies, on MetaTrader 4 or 5.

  • Risk warning: 68.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please be advised that certain products may not be available for traders from EEA countries due to legal restrictions.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading, Mirror trading
  • Regulators: Cyprus (EU), Vanuatu

$15
deposit

1:30
leverage

Market
execution

$500
deposit

1:30
leverage

Market
execution

$15
deposit

1:1000
leverage

Market
execution

$500
deposit

1:1000
leverage

Market
execution

Trade CFDs without commission on Forex, shares, indices, commodities and ETFs with Plus500.com. Plus500 is listed on the London Stock Exchange and is regulated across several jurisdictions.

  • Risk warning: 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Regulators: Australia, Cyprus (EU), Estonia, New Zealand, Seychelles, Singapore, South Africa, UK

$100
deposit

1:30 (CySEC & ASIC), 1:300 (FSA)
leverage ?

Instant
execution

Trade Forex as well as CFDs on cryptocurrencies, stocks, indices and commodities with an STP/ECN broker. EagleFX (EagleFX.com) allows all trading styles and Expert Advisors on MetaTrader 4.

  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4
  • Regulators: Dominica

$10
deposit

1:500
leverage

Instant
execution

#1. Buy CFDs on the price of Bitcoin

Buy or sell CFDs (Contract for Difference) on the price of Bitcoin through regulated brokers like AvaTrade.com or HYCM.com. When you buy a CFD on the price of Bitcoin, you aren't buying Bitcoin. Instead, you are speculating on the price of the crypto-currency. For example, you should buy a CFD if you expect the price of Bitcoin to rise, with a view to sell it later for more, to realise a profit. Alternatively, you should sell a CFD if you expect the price of Bitcoin to fall, with a view to buy it later for less, to realise a profit.

Pros

When you trade CFDs, you'll never be at risk of having your crypto-currency stolen or hacked. This is because you don't own assets. You are simply speculating on price changes.

CFDs allow you to profit from rises and falls in the price of Bitcoin. Interestingly, you can sell a CFD (go short), without owning Bitcoin, because you are only speculating on changes in price. Open a demo account to see for yourself.

All CFD brokers allow you to borrow to finance your investment. Because Bitcoin is particularly volatile, most brokers will cap maximum leverage. Use leverage with caution, as it can magnify your gains, as well as your losses.

Cons

If you leverage your trades, you will pay your broker interest on your borrowings. This form of interest is known as "swap fees" in the industry's jargon. They may be either positive or negative, depending on the direction of interest rates. You should enquire about these fees with your broker.

#2. Buy Bitcoin through an exchange

If you are new to crypto-currency, your first point of call may be to buy crypto-currency on an exchange, such as Binance. When you buy Bitcoin through an exchange, you'll swap fiat for crypto-currency. You can keep your coins with the exchange or transfer them to offline storage for greater security. Find crypto-currency exchanges available in your country on cryptobuyer.com.

Pros

Buying Bitcoin through an exchange is, by all accounts, the longest running way to buy Bitcoin. By 2013, the Mt. Gox exchange accounted for 70% of all transactions worldwide. However, the exchange was hacked and hundreds of thousands of coins were stolen, most of which have never been recovered to this day.

Cons

Crypto-currency exchanges have a poor track record at security. This is why, you'll need to open a crypto-currency wallet or store your coins offline to keep them safe. Offline storage does offer peace of mind, but is susceptible to theft or loss.

It can take many days to open and fund an account with a Bitcoin exchange if you live outside of the USA. Delays can arise when you attempt to fund your account or undergo compliance checks. These steps have become more cumbersome as the industry is more regulated now than it was in its infancy. This can be a concern if you are looking to take advantage of sudden price changes.

You may also find the lack of transparency around pricing frustrating. You'll pay either the exchange a commission or spread when converting fiat currency into Bitcoin. Some platforms will also charge ongoing platform fees.

#3. Buy Bitcoin through an electronic wallet

You can also buy Bitcoin through electronic wallets like PayPal, Skrill or Neteller. First fund your account, then shop online without sharing your card or bank account details. Once you've opened an account with one of these services and added funds, you can buy Bitcoin and other crypto-currencies online. For example, Skrill allows you to place conditional buy or sell orders that only execute once certain price points have been reached. You can also build your reserves over time through recurring purchases.

Pros

Skrill and NETELLER offer a safe and easy way to buy Bitcoin online. You could open an account in minutes and fund it through a bank transfer or card payment. You can use your account immediately, albeit with lower deposit and withdrawal limits, until you have verified your identity.

Skrill and NETELLER also provide clarity of pricing, charging 1.50% when you convert crypto-currency into USD or EUR and 3% otherwise. These fees apply on both sides of a transaction.

Cons

Simplicity comes at a price. Electronic wallets like PayPal, Skrill and Neteller charge significantly higher fees than crypto-currency exchanges or CFD brokers.

When you buy Bitcoin, you can only profit from increases in price. This means it's best to buy in a bull market, when the price of Bitcoin is in a clear uptrend.