How to Buy Bitcoin

If you don't feel like mining Bitcoin, the easiest way of acquiring Bitcoin is to buy it with fiat or another cryptocurrency.

There are plenty options to choose from. Let's have a look at the most common ones.

Buy with fiat

Buying with "your" government paper money can be an easy and convenient option. In fact, it's likely your only way to enter the world of Bitcoin and cryptocurrencies in general.

However, you may be required to give up your privacy and go through often very invasive KYC/AML procedures.

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If privacy is a big concern, you may want to avoid traditional exchange markets and use alternative ways.

5 Simple Ways to Anonymously Purchase Bitcoin

Bitfinex

Bitfinex is one of the largest crypto exchange markets and trading platforms by volume.

Ultimate Tips & Tricks to Effectively Lend USD on Bitfinex

Buy BTC on Bitfinex

KYC required: Yes (photo ID, proof of address)
SEPA: Yes
Card payment: No
International payment: Currently N/A
Buy fee: 0.10 - 0.20%
Supported cryptocurrencies: Bitcoin, Monero, Litecoin, Ethereum, Ethereum Classic, Zcash, Bitcoin Cash (Bcash) and more

buy on Bitfinex

Kraken

Kraken is the US-based exchange markets with the largest EUR exchange volume.

Buy BTC on Kraken

KYC required: Yes (photo ID, proof of address)
SEPA: Yes ($2000 daily/$10000 monthly limit)
Card payment: No
International payment: Yes
Buy fee: 0.16 - 0.26%
Supported cryptocurrencies: Bitcoin, Monero, Litecoin, Ethereum, Zcash, Bitcoin Cash (Bcash) and more

buy on Kraken

Bitstamp

Bitstamp is one of the oldest and most reputed Bitcoin exchange markets with customers mainly from the European Union.

Buy BTC on Bitstamp

KYC required: Yes (photo ID, proof of address)
SEPA: Yes
Card payment: Yes (5000 EUR daily/20000 EUR monthly limit)
International payment: Yes
Buy fee: 0.25%
Supported cryptocurrencies: Bitcoin, Litecoin, Ethereum, Bitcoin Cash (Bcash), Ripple (not really a crypto)

buy on Bitstamp

LocalBitcoins

LocalBitcoins is the largest peer-to-peer exchange market that offers the most payment options (including cash) with users all over the world.

If there's no traditional exchange market in your country, there will likely be at least one seller on LocalBitcoins.

Buy BTC on LocalBitcoins

KYC required: Depends on the seller
SEPA: Yes
Card payment: Yes
International payment: Yes
Buy fee: 1%

buy on LocalBitcoins

Cex.io

Once the first cloud mining operator, Cex.io has transformed into an exchange market that mainly focuses on selling bitcoin fast with the lowest credit/debit card fees.

Buy BTC on CEX.io

KYC required: Yes (photo ID, proof of address)
SEPA: Yes
Card payment: Yes (1000€ max limit)
International payment: Yes
Buy fee: 0.16% - 0.25%
Deposit fee: 3.5% - 5% (SEPA deposits are FREE)
Supported cryptocurrencies: Bitcoin, Ethereum, Zcash, Bitcoin Cash (Bcash) and more

buy on Cex.io

Bitpanda

Bitpanda is a European crypto exchange market that supports many different payment options.

Buy BTC on Bitpanda

KYC required: Yes (phone number, photo ID, proof of address depending on the tier)
SEPA: Yes
Card payment: Yes
International payment: Yes
Buy fee: 5% with a credit/debit card
Supported cryptocurrencies: Bitcoin, Litecoin, Ethereum, Dash, Bitcoin Cash (Bcash) and Ripple

buy on Bitpanda

Bitcoin ATMs

There are many Bitcoin ATMs around the world.

Photo courtesy of GENERAL BYTES

They vary in fees and KYC/AML requirements. Generally speaking, you will pay at least 3% in fees and will have to provide some kind of personal information such as a phone number or photo ID.

find the nearest ATM

Buy with altcoins

Once you've entered the crypto space, it's very easy to buy bitcoin with another cryptocurrency.

Be careful when choosing a crypto-only exchange market though, as they're often shady. There have been many instances of exit scams in the past.

XMR.TO

XMR.TO is a one-way exchange market selling Bitcoin for Monero.

Because of the Monero's private nature, your Bitcoin purchases are untraceable and your coins don't have your identity attached to them.

Buy BTC on XMR.TO

Make Bitcoin Great Again (with Monero's Full Privacy)

KYC required: No
Sign up required: No
Fee: $0 (the exchange rate may differ from other markets)

buy on XMR.TO

Binance

Binance is the largest cryptocurrency-only exchange market by volume. They are popular mainly because of low fees, high liquidity and low-latency platform.

Buy BTC on Binance