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How to Buy Bitcoin in 2023

Disclosure

Bitcoin (BTC) is the largest digital currency in terms of market capitalization. When it comes to investing in cryptocurrency, Bitcoin is one of the main crypto assets for most crypto enthusiasts. Due to Bitcoin’s insane popularity, it’s listed on most cryptocurrency exchanges, making it difficult for newcomers to identify the best crypto exchanges from the entire lot.

For this purpose, we have curated this comprehensive guide, disclosing the best cryptocurrency exchanges and brokers to use when you purchase Bitcoin. These crypto exchanges have been cherry-picked based on multiple important parameters. Moving forward, you will also find other ways you can earn money with Bitcoin in 2023.

Best Crypto Exchanges to Buy Bitcoin

Sort By Label
Partner Name LabelLabelCTA Disclaimer
eToro1eToro4.8Visit Websiteetoro.comThis ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC) which is highly volatile, unregulated in most EU countries, does not fall under EU protections & is not supervised by the EU regulatory framework. Investments are subject to market risks, including the loss of principal.
Pepperstone2Pepperstone4.5Visit Websitepepperstone.comSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.9% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Eightcap3Eightcap4.4Visit Websiteeightcap.comCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.04% 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.
Coinbase4Coinbase4.2Visit Websitecoinbase.com
Changelly5Changelly3.7Visit WebsiteChangelly.com
Trading 2126Trading 2124.0Visit Websitetrading212.comCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.

eToro - The Overall Best Way to Buy Bitcoin

Partner Name LabelLabelCTA Disclaimer
eToro1eToro4.8Visit Websiteetoro.comThis ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC) which is highly volatile, unregulated in most EU countries, does not fall under EU protections & is not supervised by the EU regulatory framework. Investments are subject to market risks, including the loss of principal.

The top choice for purchasing bitcoin is with eToro, as this platform offers a premium investing experience. They host plenty of useful services like social trading, e-wallet deposits, demo accounts, and courses. You can learn more about the broker below:

💰 Trade Values:CFDs, ETFs, Currencies, Indices, Cryptocurrencies, Stocks, and Commodities. ( US customers only have access to unleveraged cryptocurrencies, US stocks and ETF's; other instruments are not available)
📊 Software:Website and smartphone app.
🏆 Demo Account Available:Yes
📺 Ease of use:Excellent
⭐ Our rating:5/5
📱 App Available:iOS and Android
🧩 Regulation:Cyprus Securities and Exchange Commission (CySEC)
💰 Fees:1% of purchase order
🔁 CFDs Available:No
⚽ Social Trading:Yes

Best Platforms to Buy and Trade Bitcoin

This part of the guide walks you through the top platforms for buying or trading Bitcoin.

Buy Bitcoin Using Cryptocurrency Brokers - The Easiest Way

Cryptocurrency brokers are easy to use because they feature simple steps for acquiring Bitcoin followed by simple sign-up processes and multiple deposit methods. The most convenient platforms are listed in the table below:

ProviderFee (USD 1000)Get Started
🥇 eToro1% fee for buying or selling crypto.Start with eToro now
🥈 BinanceStarts from 0.1%; varies based on trading volume.Start with Binance now
🥉 CoinbaseStarts from 0.6%; varies based on trading volume.Start with Coinbase now

eToro Disclaimer : This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

eToro

eToro is the most beginner-friendly platform as it offers an educational section containing many courses. Moreover, you can open a demo account to test the crypto trading app before risking real money.

Binance

Binance is one of the renowned cryptocurrency exchanges with ultra-low trading fees and intuitive trading interfaces. On top of that, the platform supports multiple trading pairs for Bitcoin, making it convenient to convert most coins into BTC.

Coinbase

One of the top choices is Coinbase because the platform provides a premium service for beginners with its simple interfaces, quick deposit times, and educational content. Also, their Coinbase Pro app comes with charts and multiple order types that can help buy Bitcoin.

Buy Bitcoin on eToro: Step-By-Step Guide

Step 1: Open eToro
Step 2: Verify Your Identity
Step 3: Deposit Money
Step 4: Buy Bitcoin
Step 5: Send Bitcoin to a Wallet

Best Wallet to Buy and Store Bitcoin - Bitcoin Wallet Comparison

Bitcoin wallets are software or hardware devices that store your cryptocurrency investments. They offer far superior protection than exchanges, and you have ownership of your coins, remember, not your keys, not your coins. Therefore, you want to withdraw to a personal crypto wallet (like Trust wallet). The wallets below are compatible with multiple coins, so you can store Bitcoin and other cryptocurrencies.

ProviderWallet TypeGet Started
🥇 Ledger Nano XHardwareStart with Ledger now
🥈 Trezor Model THardwareStart with Trezor now
🥉 Trust WalletSoftwareStart with Trust Wallet now

How to Sell Bitcoin in 2023 Using Coinbase?

To sell cryptocurrencies like BTC is a smooth process with Coinbase. Here’s a simple guide to selling Bitcoin and cashing out your investment:

  • Step 1: Sign in to Coinbase and click on the Buy & Sell button. Make sure you select the Sell tab.

  • Step 2: Select Bitcoin as the cryptocurrency to sell, enter the amount you want to sell, and then click the Sell button.

Buy Bitcoin Using CFDs - Best for Trading

Contract for difference (CFD) is a different way of investing in Bitcoin. These contracts are issued by crypto brokers like eToro and Eightcap. However, with this method, you cannot spend your Bitcoin BTC because you are purchasing a derivative product.

ProviderFee (USD 1000)Get Started
🥇 PepperstoneMinimum spread of 30Start with Pepperstone now
🥈 EightcapThe minimum spread is 12.Start with Eightcap now

Pepperstone

Pepperstone is brilliant for investing due to its straightforward trading interfaces and deposit methods. It provides a choice of trading platforms and assets across multiple markets.

Eightcap

Eightcap has many useful features like trade order types, different trading software, educational content, and a news section. It also comes with an interactive smartphone app that lets you trade while on the go.

Best Apps to Buy Bitcoin - Most Convenient

Trading on a smartphone app is convenient with the listed options underneath. They all provide interactive screens, Bitcoin BTC trading, and popular deposit methods. Also, some of the crypto exchanges have an instant buy section, letting you conveniently use a bank card to buy BTC.

ProviderFee (USD 1000)Get Started
🥇 CoinbaseStarting from 0.6%; varies based on trading volume.Download now
🥈 Crypto.comStarting from 0.075%; varies based on trading volume.Download now
🥉 BinanceStarting from 0.1%; varies based on trading volume.Download now

Buy Bitcoin on eToro App: Step-By-Step Guide

Step 1: Create an Account
Step 2: Verify Your Identity
Step 3: Deposit Money
Step 4: Buy BTC

Buy Bitcoin With Exchanges - The Cheapest Way

Cryptocurrency exchanges offer the best trading experience along with competitive fee rates. After searching through the marketplace, Binance, KuCoin, and Kraken are the most cost-effective. Also, Binance and KuCoin have native tokens that give a discount on fees.

ProviderFee (USD 1000)Get Started
🥇 BinanceStarting from 0.1%; varies based on trading volume.Start with Binance now
🥈 KuCoinStarting from 0.1%; varies based on trading volume.Start with KuCoin now
🥉 KrakenStarting from 0.26%; varies based on trading volume.Start with Kraken now

Buy Bitcoin on Binance: Step-by-Step Guide

Step 1: Open Binance and Register
Step 2: Deposit Money
Step 3: Open the Trading Interface
Step 4: Complete the Trade
Step 5: Confirm the Transaction Using the Blockchain Explorer

Buy Bitcoin Using Decentralized Exchanges (DEX) - The New Way

DEXs (Decentralized exchanges) are dApps built on top of a blockchain network like Ethereum or BNB Smart Chain that facilitate trade orders using a liquidity pool system. You can start using a DEX by connecting your decentralized wallet like MetaMask (if using an Ethereum-based DEX) and selecting the tokens you want to swap. They do not require ID verification and are not regulated. The most user-friendly dApps are:

ProviderFee (USD 1000)
🥇 SimpleSwapVaries
🥈 ThorSwapVaries
🥉 Bisq0.88% of the purchase order.

Can You Buy Bitcoin Using P2P Services?

Peer-to-peer platforms connect buyers and sellers for a small fee. You can purchase Bitcoin from verified sellers with a set price for each coin. Alternatively, you can set up a location and time of where to make a trade.

ProviderFee (USD 1000)
🥇 LocalbitcoinsStarts from 0.1%; varies based on trading volume.
🥈 PaxfulStarts from 0.1%; varies based on trading volume.
🥉 Bisq0.88% of the purchase order.

Can You Buy Bitcoin Using Other Trading Platforms?

Bitcoin BTC being the first cryptocurrency ever created and having the largest market cap, it’s listed on most platforms offering cryptocurrencies. The table below will disclose the fees and if BTC is listed in their crypto exchange.

Cryptocurrency PlatformCan You Buy Bitcoin?Fee (USD 1000)Review
BinanceYesStarting from 0.1%; varies based on trading volume.Binance review
TD AmeritradeYes$0 commissionsN/A
BitstampYesStarting from 0%; varies based on trading volume.Bitstamp review
BittrexYesStarting from 0.35%; varies based on trading volume.Bittrex review
CoinbaseYesStarting from 0.6%; varies based on trading volume.Coinbase review
PoloniexYesStarting from 0.155%; varies based on trading volume.Poloniex review
BitMartYesStarting from 0.25%; varies based on trading volume.N/A
BitrueYesStarting from 0.098%; varies based on trading volume.Bitrue review
BlockFiYesStarting from 1% spread; varies based on trading volume.N/A
CoinDCXYesStarting from 0.2%; varies based on trading volume.N/A
CoinSwitchYesStarting from 0.5%; varies based on trading volume.N/A
Crypto.comYesStarting from 0.075%; varies based on trading volume.N/A
EtherDeltaNoN/AN/A
E*TRADENoN/AN/A
FidelityYes$0 commissionsN/A
Gate.ioYesStarting from 0.2%; varies based on trading volume.N/A
HotbitYesStarting from 0.2%; varies based on trading volume.N/A
KrakenYesStarting from 0.26%; varies based on trading volume.Kraken review
KuCoinYesStarting from 0.1%; varies based on trading volume.KuCoin review
RobinhoodYes$0 commissions; varies based on order flow fee and trade volume.N/A
UpholdYesBuy spread of 0.85%.N/A
VenmoYesThe fee will vary based on the purchase or sale amount.N/A
VoyagerYes$0 commissionsN/A
WazirXYes0.2% commissionsWazirX review
WealthsimpleYes$0 commissions.N/A
WebullYes$0 commissions.N/A

What Is the Difference Between Buying Bitcoin and CFDs?

When you purchase Bitcoin from an crypto exchange, you can withdraw, spend, lend, or store it. However, with a derivative product like CFDs, you cannot move your coins and must leave your invested funds within the broker. Buying CFDs means you will be invested in Bitcoin while not actually owning it.

Pros
Easy to get started with CFDs.
Can short or long Bitcoin.
Brokers issuing CFDs are secure and regulated.
Brokers provide demo accounts so you can test their services before purchasing bitcoin CFDs.
Cons
No asset ownership.
You must leave your funds in the broker.
Usually higher fees with CFD brokers than exchanges.
You cannot spend your Bitcoin on services or products.

Best Ways to Buy Bitcoin

Here is a rundown of the top platforms for specific payment methods when purchasing bitcoin.

Buy Bitcoin Instantly With Online Banking - The Fastest Way

Online banking is a popular deposit method because it’s fast and cheap. Coinbase Pro is the overall best platform for purchasing bitcoin via bank transfer because it's secure, straightforward to set up, and you can use recurring payments.

Buy Bitcoin With PayPal - The Safest Way

Investors can buy Bitcoin with PayPal via the cryptocurrency tab featured on the platform. Also, from your PayPal account, you can deposit to eToro, Binance, and Coinbase.

Buy Bitcoin Using Credit or Debit Card - The Cheapest Way

The most low-cost way to buy BTC with a debit card is to use it as a deposit method on Coinbase. Also, avoid using instant buy sections as they have significantly higher fees than the spot trading platform.

Crypto.com is a premium crypto exchange offering several Bitcoin trading pairs at competitive fee rates. The platform accepts multiple funding methods, including credit or debit card.

When you buy Bitcoin with a credit card, you get it all. Even though the payment is fast, we still make sure it indeed is you who's making the purchase. Therefore, you may see things like selfie identification or verifying your card payment on your mobile phone. This only takes a few moments, but it makes it that much safer to buy Bitcoin with a credit or debit card.

Best Platforms to Buy Bitcoin in Other Countries

Laws and regulations can impact the accessibility of exchanges worldwide. Therefore, the top provider in each country will vary based on the nation’s individual cryptocurrency regulations. Here you can explore the best platforms to use along with the starting fee rates.

Country to Buy Bitcoin inBest ProviderProvider TypeFee
AustraliaCoinbaseExchangeStarting from 0.6%; varies based on trading volume.
UKCoinbaseExchangeStarting from 0.6%; varies based on trading volume.
BangladesheToroBroker1% fee for buying or selling crypto.
CanadaBinanceExchangeStarting from 0.1%; varies based on trading volume.
HawaiiCEX.ioExchangeStarting from 0.25%; varies based on trading volume.
IndiaWazirXExchangeStarting from 0.2%; varies based on trading volume.
JapanBitFlyerExchangeNo trading fee
NepalKrakenExchangeStarting from 0.26%; varies based on trading volume.
New ZealandBinanceExchangeStarting from 0.1%; varies based on trading volume.
PakistanKuCoinExchangeStarting from 0.1%; varies based on trading volume.
PhilippinesBinanceExchangeStarting from 0.1%; varies based on trading volume.
SingaporeCrypto.comExchangeStarting from 0.075%; varies based on trading volume.
South AfricaeToroBroker1% fee for buying or selling crypto.
ThailandeToroBroker1% fee for buying or selling crypto.
UAECoinbaseExchangeStarting from 0.6%; varies based on trading volume.

How To Buy Bitcoin in Europe

You'll be able to buy Bitcoin in Europe using many of the same platforms and processes that are available in the US and other countries. However, there are some things that might differ, as we'll discuss below.

Funding

If you choose a crypto platform aimed at European users, you'll be able to fund your account with EUR, instead of paying a currency conversion fee to convert to USD. You're also more likely to be offered deposit options such as SEPA bank transfers, Sofort, and iDEAL, alongside credit and debit cards.

EU Crypto Regulation

The European Parliament has approved the Markets in Crypto Act (MiCA), which will regulate the crypto industry across the EU. This places various requirements on crypto businesses, such as maintaining ample reserves for stablecoins, warning investors of risks, and becoming liable if they lose users' funds. This is in addition to AML/CTF rules, and the requirement for platforms and private users to record and report their transactions.

MiCA could see crypto investors in the EU better protected than those in other countries. As things stand, many EU member states already have their own laws around crypto. If you want to stay safe and on the right side of the law, it's best to use platforms that are licensed by your local authority or another reputable European regulator. Some well-known crypto regulators for different European countries are detailed below.

  • BaFin - Germany

  • AMF - France

  • CySEC - Cyprus

  • MFSA - Malta

  • Central Bank of Ireland - Ireland

  • Bank of Spain - Spain

  • CSSF - Luxembourg

  • FINMA - Switzerland

Tax on Bitcoin in Europe

Profits made from trading Bitcoin and other cryptocurrencies are taxed in many European countries. You will need to consult your local tax authority to find out how to report your crypto transactions if you want to avoid penalties.

CountryTax AuthorityCrypto Tax
FranceDGFiPIncome Tax
GermanyBZStIncome Tax
SpainAEATIncome Savings Tax, Income Tax, Wealth Tax
IrelandRevenueCapital Gains Tax, Income Tax
DenmarkSkattestyrelsenPersonal Income Tax, Capital Gains Tax
AustriaBMFIncome Tax
SwitzerlandFTAWealth Tax, Income Tax
ItalyAgenzia EntrateCapital Gains Tax, Income Tax
NetherlandsBelastingdienstFictitious Gains Tax, Income Tax

Where to Buy Bitcoin in Europe

Here are some of the most popular platforms for buying Bitcoin in various European countries.

CountryBest ProviderGet Started
FranceCoinbaseVisit Coinbase
GermanyNagaVisit Naga
SpainBitstampVisit Bitstamp
IrelandCoinbaseVisit Coinbase
DenmarkeToroVisit eToro
AustriaBitpandaVisit Bitpanda
SwitzerlandBitcoin SuisseVisit Bitcoin Suisse
ItalyeToroVisit eToro
NetherlandseToroVisit eToro

eToro Disclaimer : This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

What Are the Fees When Buying Bitcoin?

This table calculates the costs to purchase Bitcoin and hold it for 30-days.

PlatformeToro BrokerBinance Exchange
Deposit fees$0$0
Purchase fees$10$1
Holding fees$0$0
Selling Fees$10$1
Payout fees$5$15
Total fees$25$17

Cheapest Way to Buy Bitcoin

Crypto exchanges have the best fee structures that work on a tier-based system. This means if you have a high 30-day trading volume, you’ll receive better fee rates when buying Bitcoin.

Moreover, exchanges like KuCoin and Binance have developed their own native cryptocurrencies, that can be used for paying trading fees. KCS gives a 20% discount while BNB gives 25%.

ProviderFee (USD 1000)Get Started
🥇 BinanceStarting from 0.1%; varies based on trading volume.Download now
🥈 KuCoinStarting from 0.1%; varies based on trading volume.Download now
🥉 BitFlyerNo trading feeDownload now

Fastest Way to Buy Bitcoin

These crypto platforms were chosen for their fast sign-up processes and easy-to-use interface. Also, all these platforms provide educational resources as a bonus for clients looking to learn topics about investing. The fastest broker is eToro, as it doesn’t feature complicated trading pages, while Coinbase and Crypto.com are ideal options because of their high liquidity with multiple trading pairs.

ProviderFee (USD 1000)Get Started
🥇 eToro1% fee for buying or selling crypto.Get started now
🥈 CoinbaseStarting from 0.6%; varies based on trading volume.Get started now
🥉 Crypto.comStarting from 0.75%; varies based on trading volume.Get started now

eToro Disclaimer : This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

How to Buy Bitcoin Anonymously?

Now you’ll discover the top platforms for buying Bitcoin anonymously or without ID verification.

How to Buy Bitcoin Without Registration or KYC?

You can use a decentralized exchange to avoid creating an account or fulfilling the KYC process. These dApps are not owned by a central company, and they do not require verifying your identity to use.

How to Buy Bitcoin Without Verification?

To buy Bitcoin without an ID, you can use a DEX or not verify your account with Binance. In the latter case, you can only deposit cryptocurrency to the exchange and cannot fund your account with fiat currency. After trading on Binance, you can withdraw Bitcoin to the wallet, although you will have transfer limits for not completing the KYC.

Can You Buy Bitcoin Offline?

No, you cannot buy Bitcoin offline, as all cryptocurrency platforms need an internet connection to function.

Should You Buy or Sell Bitcoin?

Bitcoin is the most popular coin bought by individuals, businesses, banks, and institutions. It has led and peaked in all bull runs since its creation. Therefore, most investors would consider Bitcoin an essential asset in their portfolio. If you’re undecided on BTC, here are some pros & cons:

Why should you buy Bitcoin?Why should you sell Bitcoin?
Bitcoin has the largest market cap.There are better payment coins, like Cardano.
Bitcoin is decentralized.Regulations and bans negatively impact Bitcoin.
Bitcoin is the most popular cryptocurrency.Drops heavily during bear markets.
BTC is often referred to as digital gold for its store value.Unregulated.
Bitcoin performs amazingly during bull runs.Slow transfer speeds compared to other blockchains, like Solana.

Do You Need to Pay Tax on Bitcoin in the US?

Bitcoin investors in the US must pay long or short-term capital gain tax as crypto is viewed as an asset similar to “property”. Also, the amount to pay depends on your tax bracket and how long you hold. For more concrete information, you should check your state’s official websites.

How to stay safe while buying Bitcoin?

There are a few ways you can keep yourself safe when you purchase Bitcoin. If you're unsure which precious to take, below are some great guidelines.

  • Use Licensed Exchanges: Trusted and well-established exchanges have licenses to operate from government authorities. This can be a great indicator that you can trust the exchange platform since issued licenses are difficult to obtain.

  • Enable 2-step Authentication: Most platforms allow clients to enable 2-step authentication, adding another layer of security. The program works by cycling through random numbers every few seconds, making it almost impossible for hackers to get the correct code.

  • Whitelist Your Crypto Addresses: Whitelisting crypto addresses is crucial if your account gets compromised. By utilizing this feature, cryptocurrencies can only be withdrawn to your approved addresses preventing them from getting stolen.

  • Check the Exchange’s Security Technologies: Most Bitcoin exchanges have a dedicated page that showcases what technologies they use to protect your funds. Thoroughly research this page and only sign up with the platform if you are satisfied with their security measures.

  • Use Cold or Hot Wallets: After buying Bitcoin, you’ll want to withdraw it to a private software or hardware wallets because they provide more security. However, you must keep your private keys safe since this is the only way your funds can get stolen.

Bitcoin Price Prediction: What Is the Future of Bitcoin?

Speculating the future value of Bitcoin is challenging, and many experts have voiced their opinions. This section will cover what can impact BTC’s price.

What Impacts Bitcoin Price?

These are the five main factors that can swing Bitcoin’s value:

  • Demand: Increased demand with lower supply grows Bitcoin’s price as investors are willing to pay more for each coin.

  • Market Status: Bitcoin performs best during bull runs as more money goes into the cryptocurrency market. On the other hand, Bitcoin loses tremendous value during bear markets as its price bottoms out.

  • Regulations: Countries regulating and implementing new crypto laws can impact the growth of Bitcoin negatively or positively. Crypto-friendly nations have more potential investors, which increases the demand for Bitcoin.

  • Adoption: Bitcoin becoming more adopted by individuals and businesses boosts its value as it gets utilized more.

  • Influencers: Bitcoin trending on social media is great for increasing its popularity and demand on a global level. More people find the cryptocurrency market and begin exploring coins like Bitcoin.

Historical Bitcoin Course: Major Milestones in the History of Bitcoin:

Here, you can examine a few major milestones since Bitcoin’s creation:

Current Price Prediction News

Below, you can read about what experts have to say about the future potential of Bitcoin.

Other Ways to Make Money With Bitcoin in 2023

The following part of the guide shows alternative ways to earn money with Bitcoin.

Stake Bitcoin Using DeFi or CeFi

Unfortunately, Bitcoin cannot be staked as it uses a POW (Proof-of-work) consensus mechanism.

Buy Bitcoin Using ETPs (ETFs & ETNs)

Exchange-traded product (ETPs) are securities traded on the stock exchange. The best place to buy Bitcoin ETPs is ProShares.

Buy and Sell NFTs Using Bitcoin

While popular NFT marketplaces like OpenSea, Mintable, and Foundation only allow purchases with Ethereum, the closest any NFT project has come to Bitcoin is Stacks, which verifies NFT transactions on the Bitcoin blockchain. However, you, as a buyer, can only purchase in their native tokens called Stacks.

There is no marketplace where you can buy or sell NFTs with Bitcoin. Hence, you would need to convert your BTC to the NFT platform’s supported cryptocurrencies.

Buy Stocks and Shares in Companies Owning Bitcoin

Tesla is one of the largest global companies investing in Bitcoin. However, the company has sold 75% of its holdings to improve its liquidity position. You can buy their stock conveniently with eToro.

Bitcoin Mining

Bitcoin mining is a process in which your GPU solves complex cryptographic hash puzzles to verify transactions on the bitcoin blockchain. In return, you are rewarded with Bitcoin for allocating your computational power.

Unfortunately, Bitcoin mining is not worth it today as you need to invest in expensive GPUs to be profitable. Also, Bitcoin’s halving is expected on May 4th, 2024. This is when mining each block becomes harder, and rewards are cut in half.

Use Bitcoin Faucets

Bitcoin faucets are platforms that offer a small amount of bitcoins after completing a quiz or a task. The best platforms to earn crypto rewards via faucets are Coinbase and Binance, as these two platforms have a great selection of quizzes to take. However, you are likely to earn different cryptocurrencies, which you can sell after for Bitcoin.

What Cryptocurrencies Are Similar to Bitcoin?

Here you’ll find different payment cryptocurrencies similar to Bitcoin that you may find interesting.

CoinSymbolLearn how to buy
LitecoinLTCBuy Litecoin
EthereumETHBuy Ethereum
DogecoinDOGEBuy Dogecoin
Bitcoin CashBCHBuy Bitcoin Cash
ZcashZECBuy Zcash

Is It Still Worth Investing in Bitcoin or Not?

Bitcoin is a behemoth in the cryptocurrency space in terms of its market cap and global adoption. It has performed best during bull runs and gathered a loyal community that supports a decentralized economy. Factoring in all aspects of Bitcoin, it’s definitely worth buying and holding long-term. Note: Not Financial Advice (NFA).

FAQs

What Is the Best Provider to Buy Bitcoin in the US?
What Is the Cheapest Provider to Buy Bitcoin in the Us?
Is It Worth Investing in Bitcoin Right Now?
Is There a Limit to How Much Bitcoin I Can Buy?
Can You Buy Bitcoin on the Blockchain?
What Can You Buy With Bitcoin?
Can I sell Bitcoin using the same service I used to buy it?
What are the safest Bitcoin exchanges?
How do I keep my Bitcoins safe?
Should I store my Bitcoin in a cold or hot wallet?
Is Bitcoin and Bitcoin Cash the same?
How much does Bitcoin ATMs charge per $100?

Related Crypto Guides

Author Bio
Dominikas Pupkevicius
Dominikas Pupkevicius
Dominikas is a content and research writer with over 6 years of experience. He is passionate about blockchain technology and believes cryptocurrency is the future of humanity. Dominikas lives in the countryside with his 3 dogs and enjoys long walks.