Bitcoin is in the news today more than ever. Thanks to skyrocketing prices and its volatility, more and more people are interested in discovering how to buy and sell Bitcoin. As the most popular form of cryptocurrency (and the blockchain technology that powers it), Bitcoin is now widely accepted around the world and has a growing number of applications. But before you can participate in any of it, you must first know where to go to buy and store it.
Since Bitcoin is a completely digital virtual currency, inexperienced buyers might be a bit confused about where to start. The overwhelming number of Bitcoin exchanges makes it difficult to limit yourself to only the best options out there. From the top six trading sites in 2014 to over two hundred by the end of 2022, we’re not surprised that many give up trying to find the ideal place to get their first Bitcoins.
We have compiled some of the best sites to buy Bitcoin during 2023, and from the hundreds of online exchanges and brokers we have analyzed, we have chosen the best options, which have a long history and an excellent reputation.
What is a cryptocurrency exchange?
Cryptocurrency exchanges, also known as cryptocurrency exchanges, are a type of business that allows customers to exchange cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies.
Some brokerage services (“brokers”) that also focus on other assets such as stocks, such as Robinhood and eToro, allow users to buy but not withdraw cryptocurrencies to cryptocurrency wallets. However, dedicated cryptocurrency exchanges, such as Binance and Coinbase, do allow cryptocurrencies to be withdrawn.
How to buy Bitcoin?
The most common way to buy the currency is through an online exchange such as Coinbase or CEX.IO. These allow users to use a credit or debit card to exchange dollars or euros for Bitcoin. Coinbase, for example, has an excellent track record as it has exchanged over $20 billion in cash into Bitcoins, and has support in 32 countries.
You can subscribe to these as you would subscribe to any website. First, enter your name, email address, and a secure password. Next, you will need to connect your bank account, debit card and/or credit card, and set up two-factor authentication to protect your account.
Once you have finished setting up your user account, you can start investing in Bitcoin. Whichever service you decide to use, you will be able to access a graph showing how the value of Bitcoin has changed over time.
The best sites to buy Bitcoin in 2023:
Below, we’ve compiled some of the best sites to buy Bitcoin in 2023. Read on to find the best option for you.
- Coinbase
- CEX.IO
- Binance
- Crypto.com
- Blockfi
- Coinmama
- Bitstamp
- Kraken
- Gemini
- Open
- eToro
- bitFlyer
1. Coinbase
Coinbase is a cryptocurrency exchange serving retail investors, businesses and institutions.
- It allows you to buy, sell or store more than 80 cryptocurrencies such as Bitcoin and dogecoin.
- Investment education resources, mobile access, digital storage and customer support.
- You can earn rewards for certain cryptocurrencies.
Coinbase is one of the largest cryptocurrency exchanges in the world. Founded in 2012 by Brian Armstrong and Fred Ehrsam, the investment platform offers more than 80 assets, with cryptocurrency services for both individuals and institutions. These include cryptocurrency trading and staking, digital storage of cryptocurrencies, cryptocurrency rewards for educational courses, and more.
If you are a retail trader looking to enter the world of cryptocurrencies, you can choose the standard Coinbase investment account, or the Coinbase Pro account. While both the standard and Pro accounts give you access to features like staking, Coinbase Earn (an educational program that pays you in crypto for learning about different cryptocurrencies), cryptocurrency lending and digital storage, Coinbase Pro has a more advanced offering of trading tools.
As for accepted payment methods, US customers can fund their accounts via ACH transfers, bank wire transfers, debit card transactions, PayPal transfers, and Apple Pay transfers. However, Coinbase is more expensive than the Binance and Binance.US platforms.
2. CEX.IO
CEX.IO is a global cryptocurrency service that offers more than 80 assets, rewards, margin trading and more.
- Over 80 assets, including Bitcoin, ethereum and more.
- Reduced commissions
- Margin trading, staking rewards, cryptocurrency-backed loans for individuals.
- Based in London, CEX.IO is a global cryptocurrency exchange serving investors in almost every country in the world, including all 48 U.S. states, according to its website. The exchange also gives you the ability to buy Bitcoin and more than 80 other cryptoassets.
All users can access CEX.IO’s instant purchase feature (for credit and debit card purchases only), mobile app, staking rewards and cryptocurrency-backed loans. However, more advanced traders may prefer CEX.IO’s spot trading feature (this option allows for different types of cryptocurrency market orders) and margin trading accounts. Institutions and companies can use its aggregator and payment management services.
The exchange has a creator/taker fee schedule that is based on 30-day trading volume. Fees for originators range from 0 to 0.016%, and fees for takers range from 0 to 1.25%.
3. Binance
Binance offers global cryptocurrency trading services and more for non-U.S. individuals and institutions.
- More than 150 cryptocurrencies
- Staking, crypto-loans, savings products, margin, options and futures trading
- Multiple payment methods; credit card support.
Founded in 2017, Binance is a cryptocurrency exchange offering hundreds of cryptocurrencies for traders around the world. It offers a wide selection of services, including regular cryptocurrency trading, margin trading and futures and options trading, Binance Academy (a compilation of educational resources for beginners), as well as NFT services and much more.
With Binance Earn, you can earn interest rewards periodically by staking a variety of coins (staking is a process that allows you to earn interest payments for holding certain assets for a set period of time). Another feature, Binance Loan, allows you to use cryptocurrencies as collateral to obtain cryptoloans.
In addition, the Binance Visa card gives you the option to spend cryptocurrencies on items around the world, and Binance Pay allows you to transfer or spend more than 40 different cryptocurrencies at no additional cost.
4. Crypto.com
Crypto.com offers trading services, staking, DeFi products, NFT and much more.
- More than 90 cryptocurrencies; support for more than 20 fiat currencies.
- No commissions for sending crypto to other users through the mobile app
- You can earn up to 14.5% per year on selected cryptoassets
Headquartered in Hong Kong and founded in 2016, Crypto.com is a global cryptocurrency exchange serving more than 10 million traders in over 90 countries.
It offers investors a wide range of services, including cryptocurrency staking rewards, Visa card bonuses, decentralized financial products (DeFi), non-fungible token (NFT) trading and more.
Crypto.com offers more than 90 cryptocurrencies, including Bitcoin, ethereum, litecoin and dogecoin. In addition, the exchange prides itself on offering “real cost” cryptocurrency transactions. In other words, for the first 30 days of opening your account, you will pay 0% in fees when purchasing assets with a credit/debit card.
5. BlockFi
BlockFi is a global platform that offers interest-bearing accounts, cryptocurrency-backed loans and cryptocurrency trading.
- Trading is commission-free (excluding small spreads).
- No minimum account size required
- Instant and recurring trades
Founded in 2017 by Zac Prince and Flori Marquez, BlockFi says it launched with a mission to offer credit and banking services to markets that had little access to savings accounts and similar products.
This led to its offering of cryptocurrency accounts, cryptocurrency-backed loans and other cryptoasset services. In addition, the cryptocurrency platform also offers a wide selection of cryptocurrency trading services for institutions and individuals.
BlockFi’s selection of cryptocurrencies includes Bitcoin, ethereum, litecoin and pax gold. It also offers several US dollar-based stablecoins, such as the US dollar stablecoin (USDC), tether (USDT), gemini dollar (GUSD) and paxos standard (PAX).
6. Coinmama
Coinmama is an exchange that offers 10 cryptocurrencies for investors in the United States and around the world.
- No minimum to get started
- Multiple payment options, including credit cards, debit cards, Apple Pay, Google Pay, and bank wire transfer
- Instant order delivery and high purchase limits
Founded in 2013, Coinmama is a cryptocurrency financial service that offers investments for traders around the world. The exchange offers instant purchase orders (when buying different coins), multiple payment options, high spending limits, and more.
It also provides cryptocurrency calculators to help you with fiat to crypto conversions, and its loyalty program gives you access to reduced fees when you make a minimum number of transactions.
At Coinmama you can buy a range of cryptocurrencies with a bank account, credit card or debit card. Commissions, however, can be high. Commissions for purchase transactions can range from 2.38% to 3.83%, while sales transactions usually range from 0.91% to 1.87%.
7. Bitstamp
Bitstamp accepts fiat currency to cryptocurrency transactions, and offers a professional platform for experienced traders.
- There is no minimum to open an account; the minimum to start trading is low
- Large number of trading pairs; the platform accepts fiat currency to cryptocurrency trades
- Professional platform for advanced traders
Bitstamp is a Luxembourg-based exchange that was founded in 2011, just two years after the creation of Bitcoin in 2009. Although headquartered in Luxembourg, Bitstamp serves clients from all over the world.
The platform accepts fiat currency to cryptocurrency transactions (meaning that currencies such as the dollar or euro can be exchanged for cryptoassets), and offers a range of cryptocurrency services for both individuals with personal accounts and institutions with corporate accounts.
There is no minimum requirement to open an account, but you will need at least $20 to trade.
8. Kraken
Kraken offers more than 80 cryptoassets and serves investors from more than 190 countries.
- Allows trading more than 80 cryptoassets.
- Low account minimums and fees (e.g., minimum Bitcoin deposit is 0.0001).
- Rewards can be earned for staking different assets
Kraken is an online cryptocurrency exchange that offers a wide range of investment options for individuals and institutions in nearly 200 countries around the world. The exchange platform offers more than 90 cryptocurrencies, including Bitcoin, ethereum, litecoin and others.
At Kraken you will have mainly four investment options: cryptoassets, futures trading, margin trading and over-the-counter (OTC) trading. Kraken also supports various fiat assets. Account minimums vary depending on the cryptocurrency, but fees typically range from 0% to 0.26%.
Also, the exchange’s offering includes a websockets API that provides real-time market alerts, staking rewards (staking allows investors to earn rewards by locking up a portion of their assets for a certain period of time), public key support, and offline cold storage for your cryptoassets.
9. Gemini
Gemini offers cryptocurrencies, interest benefits and more for both individuals and institutions.
- Enables trading of Bitcoin and 50 other virtual assets.
- Assets safely stored and insured against theft.
- Daily interest can be earned on a variety of cryptocurrencies
Gemini offers a wide range of cryptocurrency trading services for individuals and institutions. Users can benefit from multiple platforms, such as Gemini’s web exchange, Gemini’s mobile apps for iOS and Android, the Gemini Active Trader platform, Gemini Fund Solutions and institutional trading tools.
But the exchange also offers other notable features – Gemini Wallet, Gemini Earn, Gemini Clearing (brokerage services for off-exchange cryptocurrency trades between parties), Gemini Custody, Gemini Pay and Gemini Dollar (a digital asset backed by U.S. dollars).
Gemini has multiple fees for different accounts and account actions. While you won’t be charged for transferring funds via methods such as ACH or wire, credit or debit card transfers carry a 3.49% fee.
10. Abra
Abra is a cryptocurrency exchange and mobile wallet that offers services to investors in the United States and 150 other countries.
- No commissions for trading more than 100 cryptocurrencies.
- You can borrow using your cryptocurrencies, with interest rates from 0% to 9.95%.
- Possibility to earn up to 8% interest on cryptocurrencies or stablecoins in USD.
- Founded in 2015, Abra is a global cryptocurrency exchange and custody wallet offering cryptocurrency services to investors from over 150 countries.
Not only does it give you access to over 100 cryptocurrencies, but you can also earn interest, borrow (with interest rates as low as 0%) or use over-the-counter (OTC) trading services.
Fees vary depending on the payment method you use. For example, ACH deposits and withdrawals are free. However, Visa and Mastercard transactions can cost well over 3.5%.
11. eToro
eToro offers social trading features that allow you to copy the portfolios of advanced traders.
- Ability to trade Bitcoin, dogecoin, ethereum, Litecoin and a dozen other popular virtual assets.
- eToro’s Copy Portfolios feature allows you to follow and copy the portfolios of experienced traders to increase your trading profits.
- Various educational resources
eToro is an online cryptocurrency exchange that offers Bitcoin and more than 15 other cryptocurrencies. Although the company has a global reach, it has separate offerings for U.S. users.
U.S. investors have three options: trade on their own, use eToro’s CopyTrader system to mimic the portfolios of successful investors, or invest in one of its Copy Portfolios, which are digital currency portfolios overseen by eToro. The exchange also offers educational resources and video guides, wallet storage and debit card support.
Yoni Assia, Ronen Assia and David Ring founded eToro in 2007, but the company expanded its services to U.S. investors in 2018. eToro claims to have more than 20 million registered users.
12. bitFlyer
bitFlyer USA offers Bitcoin, ethereum and other crypto assets for as low as $1.
- Low trading fees
- You can set up recurring purchases to automate your cryptocurrency purchases on a regular schedule.
- Multi-signature to secure crypto assets.
Founded in 2014, bitFlyer is a Japan-based cryptocurrency exchange that serves traders across Japan, Europe and the United States. According to its website, bitFlyer is the largest cryptocurrency exchange in Japan and the only one licensed to operate in all three regions.
With a small selection of investments consisting of Bitcoin and a few other cryptocurrencies, bitFlyer USA is ideal for individual or corporate traders looking to make use of a specific selection of assets.
You can buy Bitcoin, Bitcoin cash, ethereum, ethereum classic or litecoin for as little as $1 on bitFlyer. If you’re looking for a wider selection of cryptocurrencies, this platform may not be the best for you.
