How to Buy Bitcoin in 2019 – The Ultimate Guide

Bitcoin is the biggest revolution in global finance in a generation, so many people want to know how to buy a Bitcoin. If you want Bitcoin, you’ve come to the right place. Bitcoin is a revolutionary digital currency, used both as a means of exchange and a store of value. But if you’re reading this, you want to know the Bitcoin price and how to buy Bitcoin. If you want to know more about how to buy Bitcoin instantly, check out our complete guide to Bitcoin, or check out the second half of this Bitcoin guide.  If you’re ready to buy Bitcoin now, let’s dive right in.

How to Buy Bitcoin complete guide

Recommended places to trade Bitcoin


What if you had invested in Bitcoin back in 2012?

According to the data at 99bitcoins, Bitcoin was worth $3.47 by January 2012. By the time we’re updating this guide, BTC price hovers around 3500 USD. If you had bought $1000 worth of Bitcoin back in 2012, that would now be worth $1,000,000 (yes, one million dollars). That is over 100,000% increase, dwarfing all other assets. It hasn’t been always an uphill path for BTC, though. The crypto asset is extremely volatile and should be traded carefully and wisely. The best place to take advantage of this volatility is through one of the regulated platforms highlighted below. Being regulated means that these brokers are accountable and have plenty of safeguard measures to protect your money.

Buying BTC Currency – Shall I do it?

Bitcoin is not just a fad. It is worth nearly $100 billion. That cannot be ignored by all the naysayers. This market has seen the most growth of any market in the financial sector and despite calls that the cryptocurrencies are in a bubble, there are still two counter-arguments that should get you involved in the crypto market:

  1. Bubbles can last for decades, ride it while it’s going up!
  2. There is real innovative technology behind the cryptocurrency. The underlying value of blockchain technology is high

The invention of the blockchain will change the world. Already there are companies giving access to the technology, to SMEs (small and medium enterprises). Which will in turn dramatically improve efficiency in these businesses.

Investors can see the clear value that Bitcoin has and that is why we have seen growth over 5000% in 2017 alone.

Three ways to Buy Bitcoin: via derivatives at brokers or directly on Exchanges

There are dozens of places online to buy a Bitcoin, but these are grouped under two main Buy Bitcoin methods: derivatives and traditional ownership. Derivatives are usually contracts where you don’t own real BTC, but you invest in the possibility that the price goes up or down. Most common derivatives include contracts for difference (CFDs), futures, and underlying assets (the method that eToro is currently using.) We’ll first explain why you might buy a Bitcoin via both methods.

Buying Bitcoin on Etoro

eToro is one of the biggest brokers worldwide. With +13 million users, it’s one of the most reliable platforms to buy Bitcoin and trade it securely. It used to offer cryptocurrencies as CFDs, buy now it is using an underlying asset schema instead. That way, you are buying the right to profit from an asset like Bitcoin. It gives you the chance to trade your asset by opening short and long positions according to a previous technical analysis of the market. In other words, traders are able to profit in both directions of the market: if you think the price is going up, then you “go long” and if you anticipate a drop you just “short it”.

Bitcoin on eToro

How To Buy Bitcoin - Guide

  • Regulation. Large cryptocurrency exchanges are not regulated. Many of them are not based in the country where you live. Cryptocurrency exchanges can and do get hacked, and cryptocurrencies like Bitcoin which customers store on them are stolen. This has happened to Mt. Gox, Bittrex, and others.

Step by Step Guide to Buy Bitcoin on eToro

Signing up and verifying your account

Its structure allows you to buy Bitcoin instantly since there's no wait for a transfer. Now let's show you how to buy Bitcoins with Etoro. Start by going to Etoro.com and creating an account. Click "Join Now" as seen on the green button below. Select your country using the list on the next screen. Note: users from certain regions are not accepted at Etoro.

Buy Bitcoin on eToro 1

After you've input your new username and password on the next screen, you'll be given provisional access to the Etoro platform. You'll be able to perform some operations on eToro, but your account will be limited (e.g., withdrawals won't be available). To get full access, you need to verify your identity. First, you have to "Complete Profile", which is a blue button you'll see in the upper left-hand corner. Click it and you'll see a series of pages like this which will ask for more personal information, financial account numbers, and government identity documentation like your passport. Input all of these and the eToro team will check your data.

Deposit funds to buy Bitcoin

Then complete a deposit, using wire transfer from your bank, Paypal, Skrill, Debit & Credit card, and several other options.

Buy Bitcoin on eToro 2

Open your order to Sell or Buy Bitcoins

Once your account is funded, head over to the "Trade Bitcoin" menu as pictured below.

Buy Bitcoin on eToro 3

Click "Open Trade". Now you'll be able to buy your Bitcoin CFD using the money you funded your eToro account with. The value of your CFD will be worth as much as the same amount of Bitcoin would be if you had purchased it on a traditional exchange. You can hold your Bitcoin CFD on Etoro as long as you want. In order to make money this way, there are 2 techniques you should understand:

  • Stop-Loss. Stop-Loss is the Bitcoin price at which you would sell your Bitcoin CFD, in the event of a crash. There's always the outside chance that the Bitcoin price could go to zero. Maybe it could even happen while you're sleeping! To prevent large losses, you can set a Stop-Loss value, and your CFD will be sold during a crash, no matter if you're online or not.
  • Take Profit. The Take Profit value is much like the Stop-Loss value, except it is a price you set for when the price of Bitcoin is going up. This is the price at which you'd want to take your profits and walk away. But if you're not online when the Bitcoin value spikes, this setting can make the sale for you.

Converting your derivatives to real BTC

Yes, eToro is becoming more powerful over time and now you have the chance to convert your assets to real crypto. Please check our eToro Wallet review for further information.

Virtual currency available securely with the Best Cryptocurrency Exchanges USA and the Best Cryptocurrency Exchanges Canada for alternative digital currency coins Altcoins, or invest using Trading Robots.

Trade Bitcoin at eToro

Buy Bitcoin on Exchanges

Now you know how to buy BTC using a regulated broker (there are a lot of alternatives besides eToro, and you can choose the most convenient for your needs). But if you want to get real BTC directly in a wallet, then you'll need to use an "exchange". In a nutshell, it's a trading platform where you can trade, buy, sell and store cryptocurrencies. Many exchanges have a multi-currency portfolio, while some others have only Bitcoin available. Find some examples below-

Luno.com

Bitcoin on Luno

Luno.com is possibly the best alternative to Coinbase for the simple purchase of Bitcoin and Ethereum with fiat currency. Though not available as an exchange in the United States (American users can still use the Luno wallet), Luno.com is available in Europe, Nigeria, Malaysia, Indonesia, and South Africa. As such, it’s a remarkable service in places sometimes not known for Bitcoin access. More resources and details can be found on Luno.com

1. The site could not be easier to use. You can set up your account in less time than it takes to start a new Facebook account.

Luno Exchange Sign Up

2. Once your wallet is created then simply make a local currency deposit using bank transfer or debit/credit card, go to Buy Bitcoin.Luno Exchange Bitcoin Buy

Luno is easy to navigate and a useful resource to learn more about digital currencies. You can easily access your wallets, create unique Bitcoin addresses, monitor transactions and more via your menu.

Luno Nav Menu

Buying Bitcoin on Luno is about as easy as it could possibly be. You simply make a deposit via bank transfer or by debit/credit card deposit. Once you’ve made a deposit via one of these payment methods, click the “Buy” button and follow the easy steps.

Buying Bitcoin on Luno

You’ll be taken to a screen like this. Luno has a great mobile app, which makes it easy to buy and sell Bitcoin anywhere you are. Simply fill in the amount of Bitcoin you wish to buy, observe the final price, then confirm the order. Your Bitcoin will appear in your Luno Bitcoin wallet.

Buy Bitcoin on Luno

Bitcoin Through Exchange: Coinbase

Why buy BTC using Coinbase?

Get Bitcoin on Coinbase

There are various platforms that act as intermediaries in the purchase of Bitcoin online. Before you buy Bitcoin directly you must own a wallet, which will involve getting a Bitcoin address.

Getting a wallet means deciding on a provider to use and then either downloading a wallet or using a web browser version. Most exchanges offer you the opportunity to use their wallet or you can normally get a wallet via the cryptocurrency directly. To have more information about choosing a wallet, I suggest you check our guide on the best wallets on the market.

The easiest way to buy Bitcoin through Bitcoin is actually to use Coinbase. Coinbase is one of the few exchanges where users can trade “fiat currency” (US Dollars, British Pounds Sterling, Euros, etc.) for cryptocurrencies like Bitcoin. It’s incredibly easy to set up, so we’ll quickly show you how it works now.

Create an account

First, let’s go to Coinbase.com and create an account.

Buy Bitcoin on Coinbase 1

Click on “Sign Up” in the upper right-hand corner. This will take you to the screen below.

Buy Bitcoin on Coinbase 3

Input your name, address, new password, state (or other nation-specific information), and check the user agreement box. Then do the CAPTCHA to prove that you’re not a robot. When you submit, Coinbase will send you a confirmation email. Go to it and click the link therein. This will lead you to the following screen.

Buy Bitcoin on Coinbase 4

Input all the necessary information on the coming screens. The layout you see will depend on where in the world you are accessing Coinbase from. Once Coinbase has verified your identity, you’ll be able to upload documents and input information which will help Coinbase further establish your identity, which will allow you to move more money in and out of Coinbase. You don’t have to do all of this, just what you need to buy Bitcoin value in the amount you desire.

buy bitcoin on Coinbase 5

Buy some BTC using Coinbase!

Now let’s buy some Bitcoin. Go to the Coinbase homepage which will look like what you see below.

How to buy bitcoin 7

This chart shows you the recent Bitcoin price action, from February 11 to March 11. Above this, you’ll see a “Buy/Sell” button. Click this. If Coinbase asks you to upload an image of your ID, do so. If not, and they allow you to buy right away, this is the page you’ll see.

how to buy bitcoin 8

On this page, you can easily buy Bitcoin. First, make sure “Bitcoin” is selected from the options above (not Ethereum, Litecoin, or Bitcoin Cash). Then type in how much money you want to spend to buy Bitcoin. The Bitcoin price equivalent will be displayed in the text bar to the right of what you just typed. On the right of the screen, you’ll see the associated fee and your final total. When you’re ready, click “Buy Bitcoin”.

Unless you first funded your Coinbase wallet with cash from your bank, the wire transfer to buy Bitcoin will take about a week to complete. Be patient. Once it comes through you will know how to buy a Bitcoin and you’ll be able to have incredible potential for investment returns as the Bitcoin price evolves.

Buy BTC using Coinbase now!

Local BitcoinsLocalBitcoins

It is a platform designed to make purchases person-to-person (P2P), so one of its benefits is to be able to trade directly with other users. You can even make plans with someone in your city and buy from them with cash.

In LocalBitcoins.com sellers are the ones who choose the method of payment. In the USA this is commonly done through Bank Transfer, although there are also cases in which the seller accepts PayPal or other payment methods such as Skrill, Moneygram Western Union, etc.

The purchasing system is very safe: when the transaction is initiated, the seller’s Bitcoins are deposited on the platform waiting for that payment to be made, and once the seller has been paid, the Bitcoins are transferred to the buyer.

KrakenKraken

Is another market where you can trade, buy and sell Bitcoins, or other cryptocurrencies like Ethereum. The first thing is to get the Tier 2 verification to enable you to buy a digital currency with dollars.

In Kraken they typically take longer to verify your account than in previous proposals, but if you see that your Tier 2 verification already has a few days waiting to be verified, it is sufficient that you send an email to ([email protected]) and ask them if you are missing any data or if there is a problem. In this way, I got verified that same day.

      • They allow you to make bank transfers, which are free of charge and can arrive the same day.
      • With your Tier 2 verification, you’re going to be able to transfer a maximum of $10,000.00 per month ($2,000.00 per day).
      • It is a secure platform (2FA), fairly intuitive, but a bit difficult to handle at first.

Buy Bitcoins Instantly with CEX.IO

This is one of the oldest cryptocurrency exchange with over 500,000 users and a daily volume of over $14 million. It has relatively high  fees at 6% on credit card purchases. That’s understandable since credit cards carry high chargeback risks.

One good thing about CEX.IO is it allows you to withdraw your digital currency in fiat at the click of a button.

CEX Exchange

You, however, have to sync your debit card with your account to conform with money laundering laws. This is the painful part. Setting up an account with cex.io is easy.

Payment Methods for Buying Bitcoin

Above we have highlighted Coinbase and eToro and how you can buy bitcoin using these providers. There are advantages to using both, this obviously depends on what the user is looking for, but the best thing they do have in common is the payment methods they offer. You can buy bitcoin very quickly using either credit/debit card, bank transfer or Paypal, essentially the most popular payment methods. Although PayPal is currently only available to US citizens, more on that can be found below.

The methods we have highlighted are the best ways to pay when converting your fiat currency into cryptocurrency, you can also buy bitcoin using other cryptocurrencies but you need to already own another cryptocurrency, which would have seen you go through this process. This is step one for the beginners out there.

Below are the most widely used payment methods when it comes to buying anything and cryptocurrencies are no different. However, there are small nuances that you should be aware of each method as highlighted below:

Buying Bitcoin with a debit card

This is possibly the easiest and most accessible way to get bitcoin directly. All the methods described in this page will allow you to buy Bitcoins with a debit card. With so many people having access to traditional banking services, you will not be surprised to hear that you can buy bitcoin by using a debit card. If you have signed up to a bitcoin wallet, you can then use a bitcoin exchange to purchase the cryptocurrency using such cards. Besides the exchanges listed in this guide, you can also buy Bitcoins with a debit card using Coinmama.

Buying Bitcoin with a credit card

The method of using a credit card for buying Bitcoin is very similar than the exposed above. However, some exchanges have imposed restrictions to buy cryptocurrency using this payment. It depends on your region and the regulation of the platform. When buying bitcoin with a credit card, you must decide if you want to actually own the asset or if you want to buy it using leverage. We tend to recommend buying it using leverage because you will be buying it through a regulated provider. Most crypto exchanges are not regulated and, therefore, not quite safe.

Providers like eToro also have a very simple and easy process of buying bitcoin using credit cards. It is very user-friendly and makes sense for first-time traders considerably easier. Once you have signed up it is very easy to fund your account. Not only will it show you how to buy using a credit card but it also highlights some of the various advantages to using providers like eToro compared to crypto exchanges. Besides the exchanges listed in this guide, you can also buy Bitcoins with a credit card on Coinhouse and Bitpanda.

BTC credit cards? Bitcoin prepaid cards?

Bitcoin now is arguably a powerhouse in the financial sector now, maybe not up with the dollar or some banks, but its current market cap exceeds $100 billion. That is not something to turn your nose up at.

It is unsurprising that people are talking about getting bitcoin prepaid cards and even bitcoin credit cards. Although those may be a while away yet, with the growth we have seen and the uptake of retailers allowing you to purchase their goods using bitcoin, it surely must not be too long away.

Bank Transfer

Another of the best five payment methods to buy bitcoin is online transfer. This could prove to be an ideal payment option, particularly if you want to use funds that are in an account that you do not have a card for or it may help you avoid incurring fees on a specific card.

PayPal

PayPal logo
Paypal is one of the best 5 payment methods to buy bitcoin

Of course, a huge number of people have money stored in online services like PayPal so it should not be a huge surprise to hear that you can use it to buy bitcoin. Bitcoin exchanges do not always allow it though so you may need to turn instead to other avenues such as making use of a CFD provider like eToro. Find more information here: How to Invest in Bitcoin Instantly With Paypal.

ATMs

The thought of being able to buy bitcoin at an ATM might seem bizarre but it is now a reality. Several websites offer listings on where cryptocurrency ATMs can be found across the world and the machines offer you the chance to buy bitcoin and then transfer it into your wallet of choice.

Get Bitcoins by becoming a miner

Finally, a look at the best five payment methods to buy bitcoin would not be complete without a mention of bitcoin mining. Working on the blockchain technology that bitcoin is based on can lead to new bitcoins being released. It is technical work but, if you have significant computing experience, doing such work could be an ideal way to pay for bitcoin without parting with your own cash.

How to Buy Bitcoins with USD

Buying bitcoin with US Dollars is now a relatively simple process with most exchanges allowing you the ability to do so, in the guide below we highlight the best places to buy bitcoin when using USD.

Each payment method will have different price structures but the price of bitcoin should have no effect on those costs. The bitcoin price can affect other exchange costs so do make sure you are keeping an eye on both the exchange fees and the price of bitcoin.

Consider the price when you buy Bitcoins

Nobody knows exactly what the future of Bitcoin value will be. However, many people think that because Bitcoin can't really be controlled (at least not yet), that it will continue to become more popular around the world. Economic instability, economic crashes, governmental strife - all of these factors can and will motivate people to adopt digital currencies that aren't run by centralized governments. The first and the biggest, Bitcoin may be the go-to cryptocurrency for years to come.

If Bitcoin does continue to grow and thrive, it isn't unthinkable that the price of Bitcoin could one day hit $100,000, $1,000,000, or more! Currently, well less than 1% of people in the world have cryptocurrency of any type. In a future where Bitcoin is a truly global currency, the Bitcoin price will be much, much higher than it is today.

People who buy Bitcoin today do so because they understand these factors. They understand that the Bitcoin price may seem high today, but that this Bitcoin price is based on incredible realities that are changing global finance as we know it. People around the world are adopting Bitcoin for many reasons: to make anonymous payments, to store value like gold, to achieve massive investment returns, and to simply use as money.

No one knows the future, but it's unlikely that Bitcoin value is going to fail anytime soon. This means that investors who get in now will own a piece of history, and will have "gotten in early" because even though Bitcoin is on everybody's lips, it's not in many of their wallets. We can't tell you what to do, but we obviously think that Bitcoin is a compelling investment at any Bitcoin price.

If you'd like to know more about Bitcoin, check out the following Bitcoin FAQ where we'll cover questions from around the web. [/su_note]

Should I Purchase Bitcoins or Altcoins?

Altcoins are basically every other cryptocurrency that isn't Bitcoin. The fact they gave that concept a name shows you the power Bitcoin has in the market.

That is not to say that other cryptocurrencies do not have value. Ethereum is currently sitting second in the market cap table. Ethereum has developed a blockchain that can run side blockchains at the same time. This essentially means that you can develop your own cryptocurrency without building your own blockchain.

Crypto Market Cap

And there are more coins that offer good investment opportunity, Ripple, Litecoin, Dash, to name a few, are all exciting prospect. With all these new coins cropping up, cryptocurrency reach is increasing and there is now a vast amount of information you can get your hands on, websites such as invezz and buyripple offer great insights into other cryptocurrencies.

Whilst Bitcoin and Ethereum lead the way, there are lots of dodgy coins out there. It is advisable to stick with reliable coins for investment purposes.

Fees when buying Bitcoins directly

When you buy Bitcoin through an exchange you will be charged a commission. This will vary depending on the exchange you are going through but will normally lie between 1% and 5%. As an incentive for you to buy more Bitcoins, the fee is reduced the more you buy, which is not the nicest of tactics.

For example, in Coinbase they charge you a commission of around 1.49% in both purchase and sale. At LocalBitcoins you can make transactions without having to pay a commission to the platform, but commissions are necessary to maintain the system, so it isn't negative either, as miners need to receive some sort of compensation for their block work and you'll get Bitcoins in your wallet much faster. Please check our individual reviews to assess the fees on each platform. Ultimately it costs you more than it would if you were trading CFDs.

Bitcoin Resources - Quick Links

More about Bitcoin 

Final Thoughts on Bitcoin

By now you know how to buy Bitcoin, thoughts on the price of Bitcoin, ideas about investing in bitcoin, and where Bitcoin value comes from. No one can say how the price of Bitcoin will change day to day, but because the value of Bitcoin is based on reliable technology and widespread adoption in the world, investing in Bitcoin is likely a very good idea.

Those who invest in Bitcoin today will have a wild ride ahead of them as the technology spreads, regulations are put in place, and other cryptocurrencies rise alongside Bitcoin. Buying Bitcoin is just the first step. We hope that the price of Bitcoin you buy today looks like a very cheap Bitcoin price in the months and years to come.

Recommended places to trade Bitcoin


FAQs on Buying Bitcoin

Where Should I Store My Bitcoin?

Answer
Bitcoin can be stored on Coinbase, or on an external wallet like Exodus, or on a hardware wallet like Ledger Nano S. If you have many Bitcoin, at this high Bitcoin value you’ll certainly want them protected. Please check our BTC wallets page for more information.

How to Buy a Bitcoin in My Country?

Answer

No matter where in the world you live, there’s an exchange that will sell you Bitcoin. Always use trusted exchanges.

Below you’ll find a list of pages that will show you how to buy in certain countries:

Is It Hard to Buy Bitcoin UK?

Answer

There are many exchanges that allow you to buy Bitcoin in the UK. All the methods described in this guide are available in this country.

Is It Safe for a Beginner to Get Into Bitcoin Investing?

Answer

Just make sure you study how to buy Bitcoin safely, and don’t invest more than you could lose without being in huge trouble.

Will the Bitcoin Value Grow?

Answer
No one is sure if the Bitcoin value will grow, but if history is any indication, then the Bitcoin value will definitely grow.

How Can I Buy Bitcoin Instantly?

Answer
Fast exchanges like Shapeshifter and Changelly are perhaps the best way to buy Bitcoin instantly.

What Are the Tax Implications of Buying a Bitcoin?

Answer
The tax implications of buying a Bitcoin vary, depending on where in the world you live. But usually you don’t pay taxes for buying a Bitcoin; instead, you’ll pay taxes for trading or selling Bitcoin you already own. Bitcoin value exchanges of many types are taxed. Consult local Bitcoin value tax law, or talk to a Bitcoin value professional/tax consultant.

Can I buy Bitcoin with PayPal?

Answer
If you are looking to buy Bitcoin with Paypal it is very easy when using providers like eToro, however, if you wanted to actually buy the asset, it is a bit more difficult.

Coinbase only allows you to buy Bitcoin with Paypal if you are a US citizen, which obviously is not ideal if you do not live in the US. They do intend to roll out this across all countries but currently, it is not available.

Find more information here: Buying BTC with PayPal.

Can I Buy Bitcoin with Credit Card?

Answer

If you are looking to buy with a credit card, both Coinbase and eToro offer similar procedures to buying Bitcoin. Again there is one advantage eToro has over Coinbase, it’s verification process is considerably quicker.

If you do not have an account but want to buy Bitcoins quickly, Coinbases verification process is very long. It can take a few weeks before you are verified and able to buy Bitcoin, unlike eToro where you can almost buy immediately. In fact, you can deposit a small amount of funds with no verification to quicken up the process. Larger amounts do require more thorough checks.

How to Buy Bitcoin in 2019 – The Ultimate Guide
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9 Comments

How safe is it to buy bitcoin from these places? I’ve heard a lot of horror stories ☹

You are right to be wary, as there are a number of scam sites and unreliable services out there. Our comprehensive reviews of the most popular, trusted exchanges should put your mind at ease.

As a newcomer to the crypto world, I love these informative guides. Keep up the good work!

I’ve been buying BTC since 2015 so it’s great to see CFD brokers coming into the mix and bringing more payment options with them. It’s an alternative I need to use more but it’s certainly interesting.

Anyone know which option’s best? I’m don’t want to get it wrong and see my money sail off into the sun…

The method you choose will depend on your intention. Do you want to trade Bitcoin from a distance or own some currency of your own? If you prefer to stand back, use a broker like eToro. If you want to own Bitcoin, use an exchange. Hope that helps.

You want to have Bitcoin for free? just install this tab on Chrome! Is for free as more people you put under you more fast you will have your Bitcoin!
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if there’s no physical coin, what are bitcoin atms? and do they mean I can buy not online?

Hi Joel, thanks for getting in touch. Great question! Correct there are no physical coins. Bitcoin ATMs are found in many countries, usually in the cities, to use them you will need to scan your identification in. Although bitcoin ATMs can provide you with a wallet address, it is advisable to bring your own. Once you are verified you can insert cash into the ATM, provide your wallet address and then confirm the operation. The agreed amount will be sent to your wallet address.
Although transactions occur online, you can make the purchase offline, but for the bitcoins to be sent to your wallet you must be online.

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