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Best Places to Buy Bitcoin in 2024

Review Updated
Emma Newbery
Author: Emma Newbery
Emma Newbery
Emma Newbery

Emma lives in Bogota, Colombia, where she owns the English-language newspaper The Bogota Post. She began her editorial career at a financial website in the U.K. over 20 years ago and has been contributing to Motley Fool Money since the summer of 2019.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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In a little over a decade, Bitcoin (BTC) has evolved from an obscure digital token used by a small group of people into a payment method and store of value that millions believe is the currency of the future.

If you're interested in buying Bitcoin, you'll first need to open an exchange or platform that allows Bitcoin trading. Below we cover our top picks for the best places to buy Bitcoin, along with why we're fans.

Coinbase
Open Account for Coinbase

On Secure Website.

Top places to buy Bitcoin

Ratings Methodology

Our Rating:

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Bottom Line

One of the largest selections in the U.S. with a deep bench of available cryptocurrencies. Coinbase isn't the cheapest place to buy and sell cryptocurrencies, but it is one of the most versatile and a clear standout.

Fees:

Variable fees (Coinbase), 0%-1.20% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)

Account Minimum:

$2

Open Account for Coinbase

Our Rating:

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor

Bottom Line

Gemini offers a nice range of cryptocurrencies and a simple-to-use app experience. Popular with beginner investors, Gemini prides itself on its security and is available in all 50 U.S. states.

Fees:

$0.99-$2.99 orders under $200, 1.49% for orders over $200 (default), 0% - 0.40% (Gemini ActiveTrader)

Account Minimum:

$0

Open Account for Gemini Exchange

Our Rating:

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor

Bottom Line

You can buy and sell Bitcoin, other cryptocurrencies, stocks, and options with no transaction fee. Plus, outside of the platforms that are solely made for cryptocurrency, Robinhood has one of the best crypto selections out there.

Fees:

$0 for stocks, ETFs, options, and cryptocurrencies

Account Minimum:

$0

Open Account for Robinhood

Limitations Apply

Our Rating:

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor

Bottom Line

The versatile trading platform is a standout, as is the CopyTrader feature that allows you to copy your favorite investors. It has a broad range of products for investors who want to manage all their assets in one place.

Fees:

1% for trading crypto plus spread, $0 commission for stocks & ETFs

Account Minimum:

$10

Special Offer

Limited time offer: Deposit $100 and get a $10 bonus. Terms apply.

Open Account for eToro

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Bottom Line

BitcoinIRA's tax-deferred crypto and gold investing is a simple way to diversify your retirement savings, but the fees are high, and volatility could also be an issue.

Fees:

0.99%-2.99% deposit fee, 2% transaction fee, 0.08% monthly security fee

Account Minimum:

$1,000

Special Offer

Sign-Up Today and Earn a $150 Reward

Open Account for BitcoinIRA

Our Rating:

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor

Bottom Line

Cash App is one of the most user-friendly ways for beginners to trade Bitcoin. There's no separate account needed -- if you use the Cash App to send money, you're already equipped to buy Bitcoin and stocks.

Fees:

$0 for stocks, fees vary for Bitcoin

Account Minimum:

$0

Read Review
Crypto regulation

The SEC advises investor caution when it comes to crypto and has filed charges against several crypto platforms in 2023. It says that a number of popular cryptocurrencies -- including Solana, Cardano, and Polygon, are unregistered securities. This could impact the way these and other cryptos are traded in the U.S. As a crypto investor, make sure you understand how the SEC cases and other proposed regulatory changes could impact your portfolio.

Reviews of our favorite places to buy Bitcoin

Coinbase

Our pick for: Broad range of crypto services

Why we picked it: Coinbase is an excellent all-around cryptocurrency exchange with a wide range of features and products. It is intuitive to use and has products for beginner investors, advanced traders, and everything in between.

What you should know before choosing Coinbase: Coinbase's fees can be steep and difficult to understand, especially if you use its beginner platform. Switch to Coinbase's advanced platform for lower fees. Coinbase is one of several top crypto exchanges that faces SEC charges.

Open a Coinbase account

Gemini

Our pick for: Accessible crypto investing

Why we picked it: Gemini is a popular cryptocurrency platform that's available throughout the U.S. It is easy to use with features that will suit investors of all levels. Gemini stands out for its focus on security.

What you should know before choosing Gemini: Make sure you understand Gemini's fees before you trade, as they can be higher than other platforms. Gemini also ran into problems after Genesis, the firm that managed its Gemini Earn program, collapsed. It made its customers whole and reached a settlement with the SEC.

Open a Gemini account

Robinhood

Our pick for: Brokerage with a crypto wallet

Why we picked it: Robinhood is the only brokerage with a self-custody crypto wallet that lets you send and receive crypto. Plus, Robinhood won't charge commissions when you buy or sell stocks, ETFs, crypto, and other assets. That's great if you want to build a diversified portfolio on a single platform.

What you should know before choosing Robinhood: Robinhood is a brokerage that sells a limited range of cryptocurrencies alongside other assets. As such, it does not have the same range of products and features that you'll get with a dedicated crypto exchange.

Open a Robinhood account

eToro

Our pick for: Social trading community

Why we picked it: What sets eToro apart is the way you can interact with other investors and even copy the moves of investors you admire. In addition, it's a solid brokerage that offers a wide range of assets, including crypto.

What you should know before choosing eToro: There's no commission to trade stocks and ETFs on the platform, but you will have to pay a trading fee to buy or sell crypto. If you want to branch out beyond Bitcoin into smaller altcoins, eToro's range is fairly limited.

Open an eToro account

BitcoinIRA

Our pick for: Saving Bitcoin for retirement

Why we picked it: It isn't always easy to put alternative assets like crypto into your IRA, something BitcoinIRA seeks to remedy. It prioritizes security and says it has third-party insurance against loss, theft, and misuse.

What you should know before choosing BitcoinIRA: Be prepared to pay set-up and trading fees, and meet a relatively high minimum deposit requirement. You can only use BitcoinIRA to buy cryptocurrency and gold.

Open a BitcoinIRA account

Cash App Investing

Our pick for: New Bitcoin buyers

Why we picked it: Cash App is an easy way for new investors to buy Bitcoin, particularly if they already use the app for payments. You can also use the popular payment app to buy stocks and ETFs.

What you should know before choosing Cash App: Cash App is not a full bells-and-whistles cryptocurrency exchange. For starters, it only trades Bitcoin, so it's not the best choice if you want to buy other cryptocurrencies as well. It also lacks the advanced trading features of other platforms and the fees can be expensive on small purchases.

Read our Cash App Investing review

TIP

The right crypto investing mindset

Investing in crypto can be extremely risky. We think investors should approach these assets like any other technological investment — with a long-term mindset and the expectation of ups and downs. The Fool realizes there may be opportunities for investors. We do actively recommend select cryptocurrencies to our community. But we encourage everyone to be well versed prior to investing to understand the potential risks and rewards.

Compare the best platforms to buy Bitcoin

Offer Best For Commissions Next Steps
Coinbase Offer Image

Coinbase

Best for broad range of crypto services

Variable fees (Coinbase), 0%-1.20% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
Open Account for Coinbase
Gemini Exchange Offer Image

Gemini Exchange

Best for accessible crypto investing

$0.99-$2.99 orders under $200, 1.49% for orders over $200 (default), 0% - 0.40% (Gemini ActiveTrader)
Open Account for Gemini Exchange
Robinhood Offer Image

Robinhood

Best for brokerage with a crypto wallet

$0 for stocks, ETFs, options, and cryptocurrencies
Open Account for Robinhood

Limitations Apply
eToro Offer Image

eToro

Best for social trading community

1% for trading crypto plus spread, $0 commission for stocks & ETFs
Open Account for eToro

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
BitcoinIRA Offer Image

BitcoinIRA

Best for saving Bitcoin for retirement

0.99%-2.99% deposit fee, 2% transaction fee, 0.08% monthly security fee
Open Account for BitcoinIRA
Cash App Investing Offer Image

Cash App Investing

Best for new Bitcoin buyers

$0 for stocks, fees vary for Bitcoin
Read Review

Where can you buy Bitcoin?

There are dozens, if not hundreds of different places you can buy Bitcoin, but they mostly fall into one of these three categories.

Cryptocurrency exchanges

Cryptocurrency exchanges are in the business of facilitating the purchase, sale, and storage of cryptocurrencies only. Coinbase and Gemini are examples of some of the best cryptocurrency exchanges.

Brokerages

Some stock brokers that allow users to buy stocks, bonds, mutual funds, and other investment vehicles also allow investors to buy and sell certain cryptocurrencies. Robinhood is a good example of a brokerage with cryptocurrency offerings.

Apps

Some of the platforms in the previous two categories certainly have apps. However, there are some apps that aren't official cryptocurrency exchanges or brokerages that facilitate the purchase and sale of Bitcoin. Cash App and Venmo fall into this category.

Feature Exchanges Brokerages Apps
Great selection of cryptocurrencies Yes Not usually Sometimes
Advanced cryptocurrency trading platforms Yes No No
Ability to buy stocks and other investments No Yes Sometimes
Lots of cryptocurrency educational resources Yes Sometimes No
No-commission Bitcoin trading No Sometimes Sometimes

Where is the safest place to buy Bitcoin?

Safety is a relative term when it comes to cryptocurrency. This is still a fairly new and unregulated industry, and there are limited consumer protections in place. As we saw with the high profile collapse of FTX and other cryptocurrency platforms, crypto assets are not covered by SIPC insurance or FDIC insurance.

If you keep your Bitcoin in a custodial wallet, it could be at risk if the exchange fails. Safety-wise, if you're looking for the best place to buy Bitcoin, here are some factors to consider:

  • Cold storage: Reputable exchanges will store the bulk of a customer's crypto assets in "cold storage" -- meaning servers that are not connected to the internet, making it less susceptible to hackers.
  • Insurance: The best place to buy and store Bitcoin will carry external insurance to protect against theft.
  • Third party audits: See what assurances the platform offers in terms of its proof-of-reserves (the evidence that it holds enough assets to cover client deposits), and check whether your crypto platform has an independent board and carries out external audits of its accounts.

Finally, it's important to note that many exchanges don't provide any protection against unauthorized account access. Be sure to activate user-level security features such as two-factor authentication. And keep your passwords and other authentication methods secure.

What to look for when finding a place to buy Bitcoin

We have yet to find a perfect place to buy Bitcoin. But if you want to know the best place to buy Bitcoin for you, the answer will depend on the features that matter most to you. Here are a few that you should consider when evaluating the best cryptocurrency exchanges, brokers, and apps.

Fees

The cost of buying and selling Bitcoin can vary dramatically from one crypto exchange platform to another. While it shouldn't be the only factor you consider, it's important to know what you'll pay on each platform you're considering. When considering fees, check to see what spread the platform charges, as this can push the cost up considerably.

Investment selection

All of the places on the above list will let you buy Bitcoin. But if you want to invest in other cryptocurrencies or begin crypto trading, you'll want to look for a platform that has a good selection. If you'd like to invest in Bitcoin and stocks in the same place, you'll need a platform that offers that.

Educational resources

Some of the biggest cryptocurrency exchanges have extensive libraries of articles, videos, and tutorials to help users learn about Bitcoin and other cryptocurrencies. This can be a big differentiator when looking for the best place to buy Bitcoin, even for people who already understand how Bitcoin works.

User-friendliness

Depending on the investor, this could mean different things. For example, someone who is looking to buy their first Bitcoin and only plans to occasionally buy and sell the digital currency may want as simple of a user interface as possible. On the other hand, an active and experienced Bitcoin trader might want a trading platform with many features (charting tools, order options, etc.).

Security

We touched on safety above, but it bears repeating. There's no point in investing in Bitcoin only to lose your assets if the platform collapses or is hacked. Research the risks involved and look for crypto exchanges that are transparent about their security, assets, and insurance.

How much does it cost to buy Bitcoin?

The cost to buy Bitcoin depends on the platform you're using. This should certainly be a major consideration for you when deciding where is the best place to buy Bitcoin.

Although there are different terms used by platforms, virtually all of them make money on the "spread." This is the difference between the price an exchange is willing to buy Bitcoin for and the price it is willing to sell it for. For example, a few popular platforms add 0.5% to their quoted price for buying transactions and subtract 0.5% for selling transactions to create a spread.

Additionally, some (but not all) platforms also charge a transaction fee. This often depends on the size of the purchase or sale, the method of payment, and the user's location. You may also be charged a withdrawal fee to take your crypto or traditional money off the platform.

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How to buy Bitcoin

It has never been easier to buy Bitcoin. Just follow these five steps:

Step 1: Decide which cryptocurrency platform you want to use

As you can see from this page, there are a number of different crypto exchanges that trade Bitcoin. The right one for you depends on the type of investor you are and which features matter most to you.

Step 2: Create an account

Once you've picked an exchange or brokerage, the next step is to open an account. To do this, you'll need to fill in some personal information, such as your name and contact information. You'll often also have to provide proof of address and upload a copy of your ID. This usually only takes a few minutes and helps exchanges comply with anti-money-laundering regulations.

Step 3: Deposit money

Most cryptocurrency platforms offer a few different ways to deposit fiat currency (traditional money, like dollars). You'll find the fees vary, though the cheapest way to fund your account is usually through a bank transfer. Credit card or debit card deposits often come with a charge of 2% to 5%.

4. Buy your Bitcoin

Remember, you don't have to buy a whole Bitcoin -- you can choose the dollar amount you want to spend. Some exchanges have an instant convert function, but on other exchanges, you may have to place an order. Once that's done, you'll have bought Bitcoin. Congratulations!

5. Consider where you want to keep your Bitcoin

Many new investors opt to leave their cryptocurrency assets on the exchange where they bought them. This is understandable, as these platforms are easy to understand and you can contact customer support if something goes wrong. However, if the platform fails, your assets could be at risk.

Investigate the pros and cons of moving your Bitcoin to a separate crypto wallet.

FAQs

  • It depends what you mean by "safe." Many cryptocurrency exchanges maintain some insurance to protect against theft of crypto assets, and hacking is generally less of a threat than it once was. On the other hand, there is little in the way of protection if your crypto is deposited on a platform that fails. Plus, Bitcoin is still a speculative asset and its price can be rather volatile.

  • The fees to buy Bitcoin vary from platform to platform. Virtually all exchanges and brokers make money from the "spread," or the difference in price between what they'll buy and sell Bitcoin for. On the other hand, transaction fees are zero on some platforms but are significantly higher elsewhere and should definitely be a factor in deciding the best place to buy Bitcoin for you.

  • A crypto exchange is a platform where people can buy, sell, and trade cryptocurrencies. Many crypto exchanges also let customers store their crypto assets on the platform, and some even offer ways to earn passive income from crypto investments. Crypto exchanges usually only allow cryptocurrency trading, unlike a crypto broker, which also trades in securities like stocks, bonds, and mutual funds.

  • There's no specific amount of money you need to buy Bitcoin. Depending on the transaction minimums on the platform you use, you can buy some Bitcoin for $1 or even less. Don't be put off by the misconception you have to buy a whole Bitcoin -- you can spend as much or as little as you choose.