How to Buy Bitcoin in 2024 – A Beginner’s Guide

Wondering how to buy Bitcoin in 2024 but not sure where to start?

Consider that a decade ago, Bitcoin was trading at just $100. Since then, Bitcoin has hit highs of over $68,000 – representing growth of 67,000%.

In this beginner’s guide, we explain how to purchase Bitcoin for the first time, highlighting best practices, risk management, and the safest way to invest.

Where to Buy Bitcoin – Best BTC Exchanges Reviewed

Wondering where to trade Bitcoin? While stocks can be purchased from a broker, Bitcoin trades on crypto exchanges.

There are more than 200 crypto exchanges to choose from. But beginners should focus on exchanges that are regulated, offer low fees, and support small account minimums.

Below, we explore the best places to buy Bitcoin in 2024.

1. eToro – Overall Best Place to Buy Bitcoin

Founded in 2007, eToro is one of the largest financial management platforms on the market today. Boasting over 30 million active customers, eToro is the safest and easiest place to buy Bitcoin online. Its user-friendly interface and social trading features make it ideal for beginners.

As you might expect from a leading online trading company, eToro take security very seriously. With an impressive track record of managing investor capital for over 15 years, eToro is regulated by many leading bodies across the world. The platform incorporates state-of-the-art security design which means your digital assets are held in military-grade offline storage facilities. 

One of the main advantages of eToro are zero commission fees on all debit and credit card deposits which make it a cost-effective option for traders of all levels. That being said, eToro do integrate a 1% fee to open and close all positions. However, this fee is included into the asset price meaning the spread (difference between buy and sell price) can sometimes be higher on the platform. Transferring crypto is fee-free. 

A handy Copy Trading facility allows users to automatically emulate the portfolios of experienced traders. This is popular amongst beginners as it is a good way to learn the basics of crypto trading from those with more knowledge.

eToro is a secure and user-friendly platform for those looking to begin their crypto trading journey. With a massive online community and a wealth of supporting material there isn’t a better place to invest in Bitcoin.

2. MEXC – Buy Bitcoin with 0% Spot Trading Fees

The MEXC cryptocurrency exchange was founded in 2018 and is used by over 10 million people in over 170 countries. This high number of users (and 0% spot trading fees) makes it one of the most popular places to buy Bitcoin in 2024.

MEXC is the one of the most popular exchanges for trading Bitcoin, with 0% fees on spot trading, and futures trading with 0% maker fees, and just 0.02% taker fees, through a feature rich trading platform, with advanced charting tools and an order book view.

For beginner traders, MEXC also offer a Copy Trading feature that allows them to automatically copy the trades of other traders on the platform.

Alongside Bitcoin, MEXC supports over 1600 other cryptocurrencies, including both long term and emerging cryptocurrencies.

The MEXC exchange also has its own token, MX, which offers holders multiple benefits on the platform. Holding the token allows users to vote on business decisions, get discounts in certain trading scenarios, access free airdrops, and more.

A MEXC mobile app, available for Android and iOS, allows users to access their account, place trades, and buy Bitcoin on-the-go. MEXC is a great place to buy Bitcoin with a credit card and users can also buy crypto via bank transfer, debit card, or through third party services, that accept Apple Pay and Google Pay.

While MEXC is available in most countries, it’s not currently supported in the US. for US traders, we recommend Binance.

3. OKX – Best P2P exchange for Buying Bitcoin

OKX is a feature rich crypto exchange with low fees of just 0.1% on each buy and sell order. These fees can be reduced by either staking the OKB token, the platform’s token, or for accounts with high trading volume.

Users can trade Bitcoin in spot, margin, futures, options and perpetual swaps markets. Staking and saving features allow users to earn passively on their crypto holdings, with high returns for some currencies and 5% APR for Bitcoin.

For advanced users looking for the best exchange to trade Bitcoin, OKX has integrated charts and tooling from TradingView, giving users access to advanced charting tools and indicators.

For beginner traders there is an extensive education center, along with 10 different trading bots following numerous trading strategies and the opportunity to use a demo trading account before committing to trade Bitcoin on an exchange.

OXK accepts multiple payment methods, including credit/debit cards, bank account transfers, and digital wallet such as Apple and Google Pay. Traders can start by buying as little as $10 of Bitcoin. Users can also connect their non-custodial web3 wallet to the OKX DEX and trade cryptocurrencies across 40 different networks—though not the Bitcoin network.

OKX is trusted by over 20 million users worldwide, and is one of the best exchanges for trading Bitcoin. OKX also support over 300 other cryptocurrencies.

4. Binance – Trade Bitcoin at a Commission of Just 0.1%   

Binance was launched in 2017 and is now the largest crypto exchange for trading volume. It supports more than 350 cryptocurrency markets, including Bitcoin. It takes just minutes to register an account and upload a government-issued ID. After that, users can deposit funds with a debit/credit card or local bank transfer. Payment fees vary depending on the country of residence.

In most cases, debit/credit card payments average 1.8-2%. While bank transfers usually require a small fee of $/€ 1. Once a deposit has been made, users can buy Bitcoin at a commission of just 0.1%. This is very competitive, considering investors pay just $1 for every $1,000 traded. While Binance offers low fees, it isn’t the most user-friendly of platforms.

In fact, many of its products and services are aimed at experienced investors. This includes leveraged cryptocurrencies, futures, options, and yield farming. In terms of security, Binance accounts are protected by two-factor authentication. It also keeps the majority of client-owned funds in cold storage. That said, Binance was hacked in 2022 for over $570 million.

5. Kucoin – Comprehensive Platform with Wide Variety of Features

For those looking for a crypto trading platform with extensive features and low fees, Kucoin is an attractive option. 

As you might expect from a leading crypto exchange, security is a major priority for this popular platform. In order to maintain its reputation, Kucoin undertake regular security audits and ensure that customer deposits are kept offline and in cold storage.

Competitive fees help set Kucoin apart from the rest of the market, with rates as low as 0.1% for trading. Further discounts are provided for customers who hold the native token (KCS) or have higher trading volumes making it a cost-effective option for regular traders.

Kucoin is known for its wide range of innovative features. Users can access spot, margin and futures markets as well as staking, lending and P2P trading. Such a broad product offering make Kucoin a popular choice among more experienced crypto traders.

With so many in-depth features Kucoin may not be the best place to start your trading journey. Too many features could make the platform appear overwhelming to beginners.

However, Kucoin continues to appeal to those looking for a feature-rich and affordable platform. Its wide variety of product offerings and low fees make it attractive for those traders more used to the complexities of crypto trading. 

What is Bitcoin?

Before buying Bitcoin, it’s wise to have an understanding of the basics. First and foremost, Bitcoin is a digital currency. It operates on a ‘blockchain’, which is often described as a public accounting ledger. This is because all Bitcoin transactions are available to view on the blockchain.

While this ensures that the network is transparent, Bitcoin transfers are not tied to the identity of the sender or receiver. This means that Bitcoin is a pseudonymous framework, allowing users to transact in privacy.

What’s more, the total supply of Bitcoin is finite. In total, there will only ever be 21 million Bitcoin tokens in circulation. Once again, this makes Bitcoin unique from traditional currencies, which continue to lose value over time because of inflation.

In this sense, Bitcoin is often compared to gold. After all, just like Bitcoin, gold has a finite supply. As long as demand for Bitcoin remains strong, its finite supply can help the digital asset appreciate over time.

The best thing about Bitcoin is it is an inclusive asset class. Anyone can buy and sell Bitcoin – 24 hours per day, 7 days per week. And, when Bitcoin is held in a private wallet, nobody but the owner has access to the funds.

How Does Bitcoin Work?

We will now take a much closer look at how Bitcoin works. This will ensure beginners understand the fundamentals when learning how to buy Bitcoin for the first time.

Blockchain Technology

Blockchain technology sits at the heart of Bitcoin. As we briefly mentioned above, a blockchain is similar to a public ledger of transactions. A blockchain is completely decentralized and does not require third parties to verify transfers.

Instead, transfers are confirmed by ‘miners’. Put simply, miners connect specialist hardware to a device to help keep the Bitcoin network operational. Every 10 minutes, miners will compete with each other to verify a ‘block’, which contains a batch of transactions.

In order to verify the block, miners must solve complex mathematical equations. These equations are so complex that only specialist hardware can complete the job. Moreover, it takes approximately 10 minutes for the equation to be solved and the block to be verified.

While Bitcoin miners consume vast amounts of energy, they are rewarded for their efforts. This is because the miner that verifies the blockchain will receive newly minted BTC tokens. As explained by the NASDAQ, the current block reward is 6.25 BTC, meaning that 900 new BTC tokens enter circulation every day.

Do note, however, that the block reward halves periodically, usually every four years. The next Bitcoin halving event is expected to happen in 2024. This means that the new mining block reward will be 3.125 BTC. Crucially, in the lead-up to Bitcoin’s halving event, the digital asset has historically performed well. As such, those learning how to buy a Bitcoin could be entering the market at a favorable time.

Fixed and Finite Supply

Supply is an important metric to understand when learning how to invest in Bitcoin and make money. As noted above, there will only ever be 21 million BTC tokens in circulation. According to the Blockchain Council, this is expected to happen in 2140.

As per CoinMarketCap data, there are currently over 19.6 million BTC tokens in circulation. And every 10 minutes, this increases by 6.25 BTC.

So why does this matter? Well, imagine owning an asset that is completely finite – meaning there will never be more in existence. As long as there is demand for that asset, its valuation will continue to increase over time. This is one of the reasons why Bitcoin is increasingly becoming popular with long-term investors, especially those seeking stores of value.

Decentralized Ownership

Now that we have zoned in on how the blockchain and supply of Bitcoin work, let’s take a closer look at why decentralization matters.

As noted earlier, Bitcoin is decentralized because nobody owns the network. And in turn, when an investor holds Bitcoin in a private wallet, nobody can control it other than the owner. This is because there is no involvement from third parties.

• To illustrate this point, consider the fundamentals of holding money in a bank account.
• While the account holder technically owns the money, the bank controls the funds.
• For example, if the account holder wants to transfer the money to another person, this must be approved by the bank.
• At any time, the bank can refuse to honor the transaction.
• Even worse, it can elect to freeze the funds and close the account.

While the above example might seem farfetched, consider the infamous Cyprus banking scandal in 2013. As reported by the BBC, the government of Cyprus levied an emergency tax on bank account savings. Accounts under €100,000 were taxed 6.75% of the total amount. While accounts holding more than €100,000 were taxed at 9.9%.

These risks are not present in the world of Bitcoin. On the contrary, Bitcoin is 100% controlled by the investor. They can decide what to do with their Bitcoin without needing third-party approval – whether that’s holding, sending, lending, or selling the tokens.

In other words, no government or third party can access an investor’s Bitcoin tokens – as long as they are held in a non-custodial wallet.

How we Ranked the Best Places to Buy Bitcoin in 2024

When learning how to buy Bitcoin as a beginner, choosing a suitable exchange is crucial. Not only in terms of safety, but fees, trading tools, account minimums, and more.

Read on to learn how we rank the best places to buy Bitcoin for 2024:

Safety and Regulation

When exploring how to buy and sell Bitcoin, it is important to remember that most crypto exchanges are unregulated.

Beginners should ask themselves whether they would feel comfortable depositing funds with a platform that doesn’t take customer safety seriously. This is why the best Bitcoin exchanges hold licenses with reputable bodies.

• For example, Coinbase hold licenses in most US states. Coinbase is also authorized by the UK’s FCA and other jurisdictions.

In addition to licensing, consider what security tools the chosen exchange offers. For example, two-factor authentication keeps client accounts safe.

Moreover, the likes of OKX produce regular proof-of-reserves, allowing customers to know that the cryptocurrency they hold is actually held by the exchange—helping to prevent similar breakdowns as what happened to FTX.

Accepted Payment Methods

Those learning how to buy Bitcoin for the first time will need to ensure their preferred payment method is supported.

The fastest way to buy Bitcoin is with a debit/credit card or e-wallet. Many exchanges also accept bank account payments.

Beginners should be aware of what fees are charged when depositing funds. Not to mention how long it takes for the payment to be processed by the exchange.

Fees

Trading and non-trading fees should be considered when choosing a place to buy Bitcoin.

There are essentially four fees to focus on:

• Depositing funds
• Buying Bitcoin
• Selling Bitcoin
• Withdrawing funds

To offer some insight, eToro allows investors to deposit funds free of charge. However, a 1% fee is charged on the opening and closing of all positions.

In contrast, Coinbase charges 3.99% on debit/credit card payments and charges 1.49% to buy and sell Bitcoin.

Supported Cryptocurrencies

After exploring how to trade BTC, some investors will look to diversify into other cryptocurrencies. These are known as ‘altcoins’, which stands for ‘alternative coins’.

eToro is a great option for diversified portfolios, considering it supports over 70 cryptocurrencies. OKX is another good option, with more than 250 cryptocurrencies listed.

Some of the most popular altcoins in the market include Ethereum, XRP, BNB, Litecoin, Cardano, Solana, Dogecoin, and Shiba Inu. That said, there are almost 26,000 other altcoins listed on CoinMarketCap, so investors have plenty to think about.

Account Minimums

Beginners should choose a Bitcoin exchange that supports small account minimums.

• For example, eToro users only need to meet a minimum deposit of $10 (dependant on jurisdiction.
• Furthermore, $10 is the minimum amount of Bitcoin that can be traded, sent or received.
• This is an affordable account minimum that will suit most budgets.

In contrast, some crypto exchanges have much higher account and trading minimums. As such, beginners should consider what they feel comfortable investing in Bitcoin before making a decision.

Trading Tools

Don’t forget to check what trading tools are offered by the chosen exchange. These should mirror the experience and requirements of the investor.

For example, beginners will find the eToro Copy Trading feature, where users can automatically copy the trades of seasoned professionals on the platform with just a few clicks, as an excellent and easy avenue for accessing the world of trading Bitcoin.

Intermediate and advanced Bitcoin traders will find the integrated charts and charting tools excellent for completing technical analysis, and they will also like the exchange’s order book viewer.

Customer Service

The best Bitcoin exchanges offer customer support on a 24/7 basis. This is in line with the global crypto trading markets – which operate around the clock.

Most exchanges offer live chat support, making it simple for all nationalities and time zones to seek assistance.

Is Bitcoin a Good Investment?

Now that we have covered the best places to buy Bitcoin, we can move on to the investment thesis. More specifically, let’s explore whether or not Bitcoin is a good investment in 2024 and ultimately whether you should buy Bitcoin or not.

Investment Returns

While we cover the price history of Bitcoin in more detail shortly, we should note that the digital asset has generated unprecedented returns since it was launched.

• According to CoinMarketCap data – which goes as far back as 2011, Bitcoin was initially priced at just $0.06.
• In March 2024, Bitcoin hit an all-time high of over $69,000

Now let’s break these figures down into more detail.

So, let’s suppose that an investor bought $1,000 worth of Bitcoin in 2011 at $0.06. If they held on until Bitcoin’s all-time high this year, the same $1,000 would have been worth over $1 billion.

Let’s suppose an investor entered the market in November 2022. In doing so, the investor would have paid just over $16,000 for a full Bitcoin token. Less than 12 months later Bitcoin hit a 52-week high of over $31,000. That’s gains of almost 100% in under a year. In contrast, the S&P 500 has grown by just 10% in the prior year.

With this in mind, Bitcoin remains one of the most popular investments for those seeking above-average returns.

Buy the Bear Market Dip

While Bitcoin is one of the best-performing assets in recent years, it’s also one of the most volatile. Bitcoin and the broader crypto markets move in bull and bear cycles although at a much more volatile pace than traditional assets, such as stocks and gold.

For example, after hitting highs of over $68,000 in late 2021, Bitcoin crashed to $16,000 less than a year later. This represents a bear market decline of 75%.

With that being said, bear markets offer an opportunity to buy Bitcoin at a ‘discount’. For example, instead of paying $68,000, investors can enter the market at a much lower price.

Store of Value

Bitcoin may also appeal to investors that seek stores of value. This term refers to assets that have a finite supply and retain their value over the course of time. For instance, real estate, gold, and fine art.

Bitcoin meets the criteria as a suitable store of value.

For example:

• Bitcoin has a maximum total supply of 21 million tokens. No more Bitcoin will ever enter circulation once this figure is met.
• The supply of Bitcoin is fixed and consistent. Currently, just 6.25 BTC enters the circulating supply every 10 minutes, or 900 BTC per day. This allows investors to predict the circulating supply of Bitcoin with certainty.

Some would argue that Bitcoin is a more suitable store of value than other assets.

For example, consider that Bitcoin can be fractionized into ultra-small units. The same can’t be said for real estate. Moreover, Bitcoin is easily transferred to other users. The same can’t be said for physical gold or fine art.

Bitcoin is also safer to store. For example, it simply needs to be kept in a crypto wallet, either on a smartphone or desktop device. In contrast, gold needs to be stored in insured vaults to retain its value and, ultimately – remain safe.

Bitcoin is an Inclusive Asset Class

Bitcoin is a lot more inclusive than other asset classes. This is because Bitcoin is a decentralized asset class that is not hindered by borders.

Anyone can buy Bitcoin at any time. The Bitcoin markets operate 24/7 without any centralized intermediaries. This means that, unlike publicly traded stocks, government agencies cannot halt trading.

• Another factor is that Bitcoin is an affordable asset class for all budgets.
• Sure, while a full Bitcoin trades for many thousands of dollars, investors can buy a small fraction of a token.
• For example, suppose Bitcoin is trading at $60,000.
• An investor could buy $60 worth of Bitcoin, representing 0.0001th of a token.

Bitcoin is also suitable for people living in the third world that rely on international remittance payments. After all, it takes just 10 minutes to transfer Bitcoin – irrespective of where the sender and receiver are based. Bitcoin fees are also a lot cheaper when compared to traditional remittance methods.

Bitcoin is Highly Liquid

Bitcoin is a highly liquid asset. This means that investors can sell their Bitcoin just as easily as buying it.

Not only is this because Bitcoin trades 24/7, but it attracts vast liquidity levels. For example, in the prior 24 hours, more than $50 billion worth of Bitcoin has been traded.

Crucially, Bitcoin can be sold at any time without worrying about finding a buyer.

Different Methods of Buying Bitcoin

Looking for the best way to buy Bitcoin in 2024?

Read on to learn about the different payment methods that can be used when entering and exiting the market.

Buy Bitcoin With a Credit Card or Debit Card

Wondering how to buy Bitcoin with a credit card?

Many first-time investors will buy Bitcoin in this way, not least because:

• Payments are processed instantly – so investors receive their Bitcoin tokens without delay
• After selling Bitcoin back to cash, the proceeds can be withdrawn to the same card
• Many credit and debit cards come with consumer protections, such as chargebacks. This safeguard protects consumers from unscrupulous exchanges.

When learning how to buy Bitcoin online with a credit or debit card, investors should consider fees. As noted earlier, while eToro is deposit fee free when using a credit or debit card, Coinbase charge 3.99%.

Buying Bitcoin With PayPal

Exploring how to buy Bitcoin with PayPal? If so, this is another safe and convenient payment method to consider.
In fact, an increasing number of exchanges accept PayPal, including eToro.

When using this e-wallet provider to buy Bitcoin, investors are protected by PayPal’s Buyer Protection Scheme. This is similar to a credit card chargeback as it protects consumers from fraudulent transactions.

We also found that PayPal is ideal for receiving payments after selling Bitcoin. Once approved and transferred by the Bitcoin exchange, the funds should land in the PayPal account near-instantly.

Buying Bitcoin With Neteller, Skrill, and Other E-Wallets

Very few Bitcoin exchanges accept other e-wallets, such as Neteller or Skrill. However, many exchanges, including our top rated exchange eToro, allow you to buy BTC with a bank account.

What is the Cheapest Way to Buy Bitcoin?

There are a variety of fees to consider when buying Bitcoin online. After all, Bitcoin is purchased from crypto exchanges, which are in the business of making money. First and foremost, beginners should consider their preferred payment method. In most cases, credit cards are the most expensive option.

This is because of the high fees that financial institutions charge crypto exchanges, which are then passed onto customers.

For example:

• While MEXC charges 2% on credit card payments, bank account deposits are fee-free.
• On Coinbase.com users pay 3.99% when buying Bitcoin with a credit card. But no fees are charged opting for local bank transfers.
• In contrast, all eToro deposits are commission free.

In addition to deposit fees, Bitcoin investors should also consider trading commissions. This fee is charged when buying and selling Bitcoin and is usually a percentage of the total trade size.

For example:

• Coinbase charges 1.49% when users buy and sell Bitcoin
• At Crypto.com, users pay just 0.075%
• eToro offer fee free trading

So, when exploring the cheapest way to buy Bitcoin, both payments and commissions should be considered.

Overall, we found that eToro is the best option for buying Bitcoin with low fees. Not only are bank transfers fee-free, but spot trading can be done with a 0% fee.

Bitcoin Price

The price of Bitcoin fluctuates based on demand and supply. Just like stocks, gold, and other assets, the Bitcoin price will rise and fall throughout the day. But over the course of time, Bitcoin has produced phenomenal growth. As noted earlier, CoinMarketCap states that Bitcoin was trading at just $0.06 in 2011.

With that said, CNBC notes that one of the first Bitcoin trades took place in May 2010. An online deal was made for pizza to be delivered to a US resident in exchange for 10,000 BTC. In today’s money, the same 10,000 BTC would be worth several hundred million dollars. Nonetheless, in 2013, the price of Bitcoin hit $100.

Compared to its 2011 price of $0.06, this netted early holders gains of over 166,000%. It wasn’t until 2017 that Bitcoin was taken seriously as an investment product by the masses. It started the year at $1,000 and closed at a then-all-time high of $20,000. That represents 12-month gains of 1,900%. During the same period, the first regulated Bitcoin futures market was launched by the CME Group.

After hitting highs of $20,000 in December 2017, Bitcoin entered a prolonged bear market hitting lows of just over $3,000. This represents a decline of 85% from its former peak. Many Bitcoin adversaries used the bear market to brand the digital currency as a scam, bubble, and Ponzi scheme.

How wrong their hypothesis turned out to be. Not only did Bitcoin regain its former all-time high of $20,000 in late 2020, but it went on to set new peaks. In fact, by the end of November 2021, Bitcoin had reached a new all-time high of over $68,000. So, when compared to its prior bear market lows of $3,000, Bitcoin went on to produce growth of over 2,000%.

However, a new bear market developed after Bitcoin hit $68,000. Over the following 12-15 months, Bitcoin hit lows of $16,000 – a decline of 75% from its peak. That said bear market prices allow people to buy Bitcoin at a huge discount.

Bitcoin Price Prediction

Predicting the future price of Bitcoin is a challenging task. Just like traditional stocks, nobody quite knows what the future holds.

In theory, Bitcoin has all the required fundamentals to continue growing over the course of time.

For instance:

• It is a global asset class attracting billions of dollars worth of trading volume every day.
• Virtually all tier-one brokerages offer access to Bitcoin and other cryptocurrencies. There are also regulated Bitcoin futures markets, and ETFs have just been launched in the US.
• Numerous global brands accept Bitcoin as payment, including Microsoft and AT&T.
• According to CFD trading platform Capital.com – more than 1 million people own Bitcoin globally
• The total supply of Bitcoin is finite, capped at 21 million tokens. This makes a great case for Bitcoin as a long-term store of value.

In terms of recent price predictions:

• Standard Chartered analyst Geoff Kendrick believes Bitcoin could surpass $100,000 in 2024.
• In contrast, Mark Mobius of Mobius Capital Partners LLP believes that Bitcoin could tank to $10,000.

The above should highlight that Bitcoin price predictions should be taken with a grain of salt. After all, while some analysts have a super-bullish outlook on Bitcoin, others view the digital asset completely differently.

Ultimately, instead of relying on Bitcoin price predictions, investors should focus on the long-term fundamentals.

Which is the Best Bitcoin Wallet?

Investors have many options when choosing a wallet to store Bitcoin. The best crypto wallets offer an adequate level of convenience and security, plus additional features like trading and fiat deposits. That said, there are many different types of wallets to consider.

First and foremost, investors need to choose from a custodial or non-custodial wallet:

• Custodial wallets are offered by third parties. They keep the Bitcoin safe on behalf of investors.
• Non-custodial wallets give investors full control of their Bitcoin tokens. This means investors are responsible for keeping the tokens safe. Only the investor has access to the wallet’s private keys.

After deciding on custodianship, investors need to choose between a hot or cold crypto wallet:

• Hot wallets are always connected to the internet and come via software. For example, a mobile app, Windows/Mac software, or a Chrome browser extension. While more risky, hot wallets offer seamless access to the Bitcoin markets – especially when buying and selling.
• Cold wallets are never connected to the internet. By remaining offline at all times, there is no threat of the wallet being hacked remotely. While more secure, cold wallets make it cumbersome to buy and sell Bitcoin regularly.

eToro store customer funds off line in segregated bank accounts which although may be part of the wider eToro group, are not co-mingled. All funds are managed in accordance with local regulations.

How to Buy Bitcoin – Detailed Tutorial

By reading our guide up to this point, investors should have made an informed decision on whether Bitcoin is a suitable asset class.

If so, we will now explain how to buy Bitcoin on eToro, a leading exchange offering low fees and military grade security.

Step 1: Open an eToro Account

All eToro users must open an account before getting started.

Visit the eToro website and click on ‘Join now’ or ‘Sign Up’. Enter your personal information and set a strong password.

Step 2: Get Verified 

The next step is to verify yourself and your account.

To do this users will need to supply further personal information including proof of their address.

Verification of your documents can take up to 24 hours.

Step 3: Deposit Funds

Now your account needs to be funded. The minimum depends on the terms and conditions in your local jurisdiction.

You can add funds into your account via Debit or Credit Card, Bank Transfer or e-Wallet such as PayPal.

Step 4: Search for Bitcoin 

Once you have logged in to your eToro trading account, enter BTC in the search bar. Click ok and when Bitcoin appears, click Trade to begin.

Step 5: Buy Bitcoin 

Once on the Bitcoin trading page select Invest. Next, choose whether you want to place an Order or a Trade. Pressing Trade will purchase Bitcoin at the current market rate whereas pressing Order will enable you to set the price you want to pay for Bitcoin.

Enter the amount you want to invest.

Review all the details of the transaction including the associated fees and total cost.

Press Open Trade to confirm your order.

99Bitcoins – Earn Rewards and Benefits While Learning About Crypto

99Bitcoins is a leading website that simplifies Bitcoin and cryptocurrency education through non-technical blogs and tutorials. Recently, they have introduced their revolutionary learn-to-earn platform, centered around the $99BTC token.

This model rewards users with $99BTC tokens for completing educational modules on cryptocurrency. Holding $99BTC tokens provides generous benefits like staking rewards and access to advanced training courses, webinars, and VIP community groups. As users progress through the curriculum, they earn $99BTC tokens.

$99BTC will first launch on Ethereum as an ERC-20 token since Ethereum is secure and widely used. Later, the platform plans to move $99BTC to the Bitcoin blockchain as a BRC-20 token, making it one of the first tokens on Bitcoin’s new Ordinals system, allowing it to work with other BRC-20 tokens.

Conclusion

In summary, buying Bitcoin in 2024 is now a simple, cost-effective, and safe process when using a suitable crypto exchange.

eToro ranks as the overall best option for buying Bitcoin, considering its zero-fee trading, strong community and wide-availability.

For Bitcoin alternatives, our team recommends Bitcoin Minetrix – 10,000 times more sustainable than Bitcoin.

Bitcoin Minetrix uses the PoS consensus mechanism to offer a sustainable blockchain and staking yields. $BTCMTX token holders also earn ‘Cloud Mining Credits’ by staking their tokens.

References

• https://coinmarketcap.com/currencies/bitcoin/
• https://aws.amazon.com/blockchain/decentralization-in-blockchain/
• https://www.nasdaq.com/articles/what-happens-when-all-21-million-bitcoin-are-mined
• https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html
• https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left
• https://www.bbc.com/news/world-europe-21814325
• https://coinmarketcap.com/rankings/exchanges
• https://coinmarketcap.com/exchanges/binance/
• https://www.nytimes.com/2022/10/07/business/binance-hack.html
• https://www.cnbc.com/quotes/COIN
• https://www.coinbase.com/legal/licenses
• https://coinmarketcap.com/
• https://www.paypal.com/us/webapps/mpp/paypal-safety-and-security
• https://www.cnbc.com/2017/05/22/bitcoin-price-hits-fresh-record-high-above-2100.html
• https://capital.com/who-owns-the-most-bitcoins
• https://www.cnbc.com/2022/12/01/bitcoin-price-could-fall-40percent-to-10000-in-2023-mark-mobius-says.html
• https://www.cnbc.com/2023/04/24/bitcoin-btc-price-could-hit-100000-by-end-2024-standard-chartered.html
• https://www.euronews.com/next/2022/08/25/bitcoin-ban-these-are-the-countries-where-crypto-is-restricted-or-illegal2
• https://www.blockchain.com/explorer/addresses/btc/34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo

FAQs