What's the Cheapest Way to Buy Bitcoin in 2024? - Coindoo
Cheapest Way to Buy Bitcoin

What’s the Cheapest Way to Buy Bitcoin in 2024?

Editorial Team Avatar
Feb 19, 2024
17 min reading time

Bitcoin is the most popular cryptocurrency, and many investors look for the cheapest ways to buy it. With all the hype around spot Bitcoin ETFs, BTC’s price increased and may follow this path for some time. Thus, saving as much as possible when buying Bitcoin feels a little like a must.

Naturally, the cheapest way to buy Bitcoin in 2024 is to buy it from a safe source so that you don’t pay the price of allowing a scammer to take control of your funds.

Jokes aside, there are a few ways to buy BTC and save on fees.

The Cheapest Way to Buy Bitcoin from Crypto Exchanges

The Cheapest Way to Buy Bitcoin from Crypto Exchanges

One of the cheapest ways to buy Bitcoin surely is by choosing a cryptocurrency exchange platform that has low trading fees. There are many exchanges that offer strong security features and also focus on lowering exchange fees as much as possible.

Now, it is essential to note that it is not only the exchange that sets the fees. They also depend on the network transaction fees, which can fluctuate according to the network’s activity or the number of transactions that need to be processed. Furthermore, the fees you are required to pay depend on the amount of crypto you trade. More crypto sold or purchased will lead to a lower fee percentage.

Top Crypto Exchanges to Buy Bitcoin

Usually, crypto exchanges do not support all cryptocurrencies available on the market, and this also happens because some platforms or cryptos can have restrictions in specific jurisdictions. However, as Bitcoin is, after all, the most popular coin and the largest crypto by market cap, it is usually supported by a wide range of cryptocurrency exchange platforms.


Currently, Coinbase is among the most trusted cryptocurrency exchanges, offering a wide range of crypto trading services and not only. Founded in 2012 by Brian Amstrong and Fred Ehrsam, Coinbase is the 2nd cryptocurrency exchange by trading volume, where users can buy, sell, or trade Bitcoin seamlessly and securely.

Coinbase is a great platform for both beginners and experienced traders, and it has developed 2 trading platforms to acquire both groups. Thus, beginners can choose the Coinbase exchange, while those who have extensive crypto trading knowledge can opt for Coinbase Advanced Trade.

Coinbase Advanced Trade is a platform that replaces Coinbase Pro, which was announced that would close in June 2022. However, Coinbase Pro is still available, but investors were advised to move their funds to Coinbase Advanced Trade.

In what concerns the fees set by Coinbase, many users believe that they are not the highest, nor the lowest. Still, Coinbase has higher fees than other popular exchanges. On Coinbase Advanced Trade, users usually pay less as makers than as takers, with fees ranging between 0.00% and 0.60%.

Coinbase FEES

When it comes to the payment methods investors can choose from, Coinbase surprises users with a pretty wide variety:

  • Bank transfer (ACH for US customers and SEPA for EU investors);
  • Credit or debit card;
  • PayPal (Coinbase will start supporting direct withdrawals to PayPal);
  • Apple Pay;
  • Google Pay;
  • 3D Secure card;
  • Sofort;
  • Multiple fiat currencies supported (e.g., CAD, EUR, GBP, SGD, USD);
  • All cryptocurrencies supported.

Coinbase is renowned for its strong security, the platform constantly working to improve them and keep users’ funds and information as safe as possible. The crypto exchange allows and encourages users to set up 2FA (Two-Factor Authentication). Furthermore, Coinbase uses cold storage to keep most of its customers’ assets safe while keeping a small amount in hot storage to be able to process transactions faster.

Besides, Coinbase also employs MPC (Multiparty Computation) to increase security on its platform. Multiparty computation implies that each on-chain transaction gets cryptographic keys generated in different parts so that hackers cannot touch the funds, as they cannot combine all the required keys.

How to Buy Bitcoin on Coinbase
Step 1: Log in and click on “Buy & Sell”
Step 1: Log in and click on "Buy & Sell"
Step 2: Select the amount of fiat you want to sell or the amount of BTC you want to buy
Step 2: Select the amount of fiat you want to sell or the amount of BTC you want to buy
Step 3: Click on “Preview Buy” and confirm the transaction
Step 3: Click on "Preview Buy" and confirm the transaction


Kraken was launched in 2011 in San Francisco, and since then, it managed to become available in around 190 countries and support over 220 cryptocurrencies, including Bitcoin transactions. On Kraken, buying and selling Bitcoin is as easy as beginners would expect, having an extremely user-friendly and intuitive interface.

Kraken has also developed an advanced trading platform called Kraken Pro. It is available on both web and mobile (iOS and Android) and allows users to perform more advanced trades.

While Kraken Pro’s interface might seem a bit overwhelming at first, advanced traders will have access to more detailed asset information, such as active charts and an overview of open orders.

The fees required by Kraken are a little bit lower compared to Coinbase. Kraken and Kraken Pro follow different pricing plans.

Kraken charges a percentage fee for every transaction, along with a spread fee that can fluctuate. Furthermore, users might be required to support additional fees for choosing specific funding methods (e.g., credit card transactions).

On Kraken Pro, however, fees are significantly lower, ranging between 0.00% and 0.26%:

Kraken Pro Fees

Kraken supports various payment methods, including Visa and Mastercard credit and debit cards, digital wallet purchases (for funding your account), or ACH transfers.

At the moment, the crypto exchange supports multiple fiat currencies, including USD (US Dollar), EUR (Euro), CAD (Canadian Dollar), AUD (Australian Dollar), GBP (Pound Sterling), CHF (Swiss Franc), and JPY (Japanese Yen).

Kraken also focuses on maintaining a high level of security; thus, users are encouraged to set up 2FA (Two-Factor Authentication) once their accounts are funded. Furthermore, Kraken also allows you to create different two-factor codes for sign-in, account withdrawals, and trades.

Besides, users can also lock their accounts from any changes if they feel like their accounts were hacked.

How to Buy Bitcoin on Kraken
Step 1: Log in and click on “Buy crypto”
Step 1: Log in and click on "Buy crypto"
Step 2: Select the amount of fiat you want to use and add a payment method
Step 2: Select the amount of fiat you want to use and add a payment method
Step 3: Review and Confirm the Transaction
Step 3: Review and Confirm the Transaction


Launched in 2016 in Hong Kong, Crypto.com is a trading platform that allows you to trade, buy, and sell Bitcoin easily and quickly, with pretty low fees. Crypto.com is currently available in over 90 countries and supports more than 250 crypto assets. On the crypto exchange, you can also sell or purchase Bitcoin.

The interesting fact about Crypto.com is that it has also developed its own cryptocurrency, CRO. Those holding CRO can stake it to earn rewards and also have lower trading fees.

The Crypto.com can be accessed through a mobile app available on iOS and Android. Registering on the exchange is extremely simple and quick, but keep in mind that you will have to get through a verification process.

In what concerns the fees, Crypto.com functions based on a maker-taker model, and the fees range between 0.00% and 0.0750%. For spot and margin trading, users have to cover the following fees:

Crypto.com Fees

For derivatives trading, fees are lower, also going as low as 0.00%. When it comes to deposit methods, users can use SWIFT or SEPA bank transfers and have a minimum requirement of €1 for SEPA and $100 for SWIFT.

Crypto.com has taken numerous security measures. The crypto exchange allows users to set up two-factor authentication, which has become pretty important in the crypto industry.

Moreover, Crypto.com stores customers’ funds offline to help prevent hacks and thefts. The platform also works with local banks from the US to provide $250,000 in FDIC insurance for USD balances in case of theft.

How to Buy Bitcoin on Crypto.com
Step 1: Login and tap on Bitcoin
Step 1: Login and tap on Bitcoin
Step 2: Tap on “Buy Bitcoin” and select the amount of BTC you want to purchase
Step 2: Tap on "Buy Bitcoin" and select the amount of BTC you want to purchase
Step 3: Select the payment method and confirm the transaction
Step 3: Select the payment method and confirm the transaction

The Cheapest Way to Buy Bitcoin from Wallets

Crypto wallets can be a great option for those looking for the cheapest way to buy Bitcoin. Many wallets also allow users to make in-app purchases, and the buying process usually is extremely straightforward. Buying Bitcoin on crypto wallets can be as easy as a few clicks that move funds from your bank account directly to your crypto wallet in the form of BTC coins.

Best Wallets Where to Buy Bitcoin

The Cheapest Way to Buy Bitcoin from Wallets

Trust Wallet

Trust Wallet is a non-custodial crypto wallet founded by Viktor Radchenko in 2017. The company was acquired by Binance one year later thanks to its solid security features and surprising user-friendliness.

Trust Wallet is available as an app on iOS and Android, but it can also be used as a web extension on Chrome, Brave, Operam Edge, and many other browsers.

Trust Wallet is extremely secure and focuses on users’ privacy and anonymity. Those using the Trust Wallet app can enable Face ID or Touch ID to add an extra layer of security. Overall, considering that it is a non-custodial wallet, Trust Wallet relies on its customers’ ability to keep their recovery phrases safe. This way, their funds will be almost impossible to get stolen.

On Trust Wallet, investors can store various crypto assets for free. However, using the integrated buying option will come with a 1% fee on top of the fees charged by third-party platforms implied in the process.

How to Buy Bitcoin on Trust Wallet
Step 1: Log in and click on “Buy & Sell”
Step 1: Log in and click on "Buy & Sell"
Step 2: Select the fiat currency you want to use and Bitcoin. Then, choose the best deal and confirm the transaction
Step 2: Select the fiat currency you want to use and Bitcoin. Then, choose the best deal and confirm the transaction

Coinbase Wallet

Coinbase Wallet was launched by Coinbase and is part of the Coinbase ecosystem. It is a non-custodial crypto wallet that supports over 100,000 digital assets, including Bitcoin. Coinbase Wallet is renowned for its strong security features, just like Coinbase and Coinbase Advanced Trade.

The fees required by Coinbase Wallet are pretty similar to those on the Coinbase crypto exchange. While downloading and setting up the app and storing crypto there is free, buying, selling, and swapping crypto comes with some fees.

While Coinbase’s fees are considered to be higher than those of other competitors, Coinbase Wallet has the remarkable advantage of being an extremely safe and secure platform.

First, it is a non-custodial wallet, meaning that users have full control over their private keys. Then, users are asked to add their biometrics or set up a passcode when creating their wallet. Furthermore, on the web extension provided by Coinbase, investors must create a strong password that will be required whenever logging in.

How to Buy Bitcoin on Coinbase Wallet
Step 1: Log in and click on “Buy”
Step 1: Log in and click on "Buy"
Step 2: Go to Coinbase Pay and select Bitcoin
Step 2: Go to Coinbase Pay and select Bitcoin
Step 3: Select the amount of Bitcoin you want to buy and confirm the transaction
Step 3: Select the amount of Bitcoin you want to buy and confirm the transaction


Exodus was founded in 2015 and aims to enable easy access to crypto for users from all over the world. It is a non-custodial wallet that is well-known for its intuitive interface and high support for Bitcoin. However, Exodus does not support Bitcoin only; instead, it supports almost 300 digital assets.

Creating an account on Exodus is extremely easy, and buying Bitcoin is even easier. Each such transaction will come with a small fee in the form of a spread. The fee depends on the amount of Bitcoin bought and the overall status of the network.

Still, Exodus is free to download, set up, and use, and users can safely store many types of crypto in their wallets. However, it is essential to note that Exodus does not support 2FA. Instead, the wallet allows users to enable Face ID or Touch ID, as well as set up a password for the web version of the wallet.

How to Buy Bitcoin on Exodus
Step 1: Log in and tap on “Buy”
Step 1: Log in and tap on "Buy"
Step 2: Select the amount of fiat you want to sell for Bitcoin
Step 2: Select the amount of fiat you want to sell for Bitcoin
Step 3: Confirm the third-party transaction
Step 3: Confirm the third-party transaction

The Cheapest Way to Buy Bitcoin from Crypto Apps

Considering the constant growth of Bitcoin, many other financial apps started developing ways to support cryptocurrency or other types of digital assets. PayPal is one of them, the feature currently being available only in the US.

PayPal started supporting Bitcoin transactions in October 2020, and purchasing Bitcoin directly through PayPal is extremely straightforward. The maximum purchase limit is $100,000 per week, with no annual limit. Withdrawals are limited to $10,000 per week, and the withdrawal fees range from $0.49 to 1.80% of the transaction, depending on the amount of BTC bought.

How to Buy Bitcoin on PayPal

To buy BTC on PayPal, you will first have to sign up or sign in. Then:

  • Click on “Finances” on the top left;
  • Click on “Crypto”;
  • Click on “Bitcoin” and on “Buy”;
  • Enter the amount of Bitcoin you aim to purchase;
  • Select the payment method you want to use and click on “Next”;
  • Check the conversion fees and rate and confirm the transaction.

Your BTC will be safely stored on your PayPal account until you decide to withdraw it to a crypto wallet or exchange.

Earn Free Bitcoins

Earn Free Bitcoins

There are many ways in which you can earn Bitcoin for free. However, there are some things you should consider:

  • The amount of Bitcoin you will receive is pretty low. Most such rewards are offered in Satoshis, which is the smallest monetary unit for BTC;
  • You might have to pay small fees to withdraw your Bitcoin;
  • There might be some scams among the projects you will notice; thus, make sure that you carefully research them before offering personal information or your wallet address.

Crypto Airdrops

Crypto airdrops have been around for some time. They are special events organized by newly launched crypto projects or companies that want to increase their popularity. Crypto airdrops can have prize pools consisting of native tokens of the project or other popular cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), or Tether (USDT).

During a crypto airdrop, users are required to complete some simple tasks to join a leaderboard or win a small reward immediately. These tasks might include:

  • Following the project on social media (Facebook, Instagram, Twitter, Threads, etc.);
  • Referring friends;
  • Joining various channels (Discord, Telegram);
  • Registering on the platform;
  • Sharing specific posts or tweets.

Bitcoin Faucets

Bitcoin faucets are specialized websites where users can receive small amounts of Bitcoin for completing various simple actions. These actions might include watching ads, solving CAPTCHAs, or performing various activities in simple games.

Just like in crypto airdrops’ case, Bitcoin faucets reward users with pretty small amounts of BTC, usually Satoshis. However, if you are consistent, you might end up with a more considerable amount of Bitcoin.


Many platforms (including crypto exchanges) offer specific bonuses for users who complete various actions. For instance, when registering on a new exchange, you can get a welcome bonus after you complete your first deposit.

Some platforms also reward users for completing the KYC (Know Your Customer) procedure. However, ensure that the platforms are safe and don’t provide sensitive information unless you are entirely sure that it will be safely stored by the crypto project.

There are also some learning programs where users can earn crypto by completing quizzes about the crypto industry. This way, you can earn while learning, and this can be a great advantage, especially if you are a newcomer in the crypto world. Coinbase has such a program, which is called “Learning Rewards.”


Bitcoin mining has become extremely popular, and while it is a great way to earn Bitcoin, it requires some effort in the beginning. However, once you are all set up, the rewards can be truly remarkable.

There are multiple types of Bitcoin mining, the most popular being GPU and CPU mining, cloud mining, and pool mining.

GPU and CPU mining require expensive hardware, and energy consumption has increased so much that the rewards are usually nonexistent.

On the other hand, with cloud or pool mining, you have a higher chance of earning Bitcoin while putting to work the BTC coins you already hold.

Other Ways to Buy Bitcoin

Bitcoin ATMs

You can also buy Bitcoin by simply going to a Bitcoin ATM. Bitcoin ATMs are automated teller machines that allow you to purchase Bitcoin with cash. They are extremely similar to regular bank ATMs, but there is a catch – Bitcoin ATMs are not as safe as some might think. You may find yourself in a situation where you try to purchase Bitcoin at an ATM, and the machine only takes your fiat but offers nothing in exchange.

However, if you find a trustworthy Bitcoin ATM, purchasing BTC is easy and quick and does not require you to get through long verification processes. However, BTC ATMs generally are not the cheapest way to buy Bitcoin.

Spot Bitcoin ETFs

Spot Bitcoin ETFs (Exchange-Traded Funds) became popular over the past year when many asset managers started filing for such an investment product with the US SEC (Securities and Exchange Commission). They became a reality on January 10, 2024, when the SEC approved 11 of those applications.

Spot Bitcoin ETFs are available on various popular exchanges, such as NASDAQ or New York Stock Exchange. Users can also invest in spot Bitcoin ETFs through platforms such as Robinhood, eToro, Fidelity, or E*TRADE.

Bitcoin, Shortly

Bitcoin is the first cryptocurrency ever developed and was launched in 2009 by Satoshi Nakamoto. Since then, Bitcoin has maintained its position at the top, being the largest cryptocurrency by market cap, with a price of around $43,000 (at the moment of writing).

Bitcoin functions based on a Proof of Work (PoW) consensus mechanism, meaning that miners have to complete complex mathematical or cryptographical problems. This way, miners generate new coins by verifying and approving new transactions. The new transactions are secured and stored on blocks, which are part of a decentralized network (blockchain).


Where can I buy Bitcoin at the cheapest price?

There are multiple options when it comes to the cheapest way to buy Bitcoin. Although Bitcoin’s price doesn’t essentially change from one platform to another, it is the transaction fees that can fluctuate. Thus, you want to look for platforms that have low transaction fees. Crypto.com and Kraken are 2 great examples of such platforms.

How can I buy Bitcoin without fees?

It is close to impossible to buy Bitcoin without fees, as each transaction implies energy consumption and, thus, transaction (or network) fees. However, you can lower fees as much as possible or opt for premium versions of crypto exchanges to have 0% fees on your transactions.

Can I invest $100 in Bitcoin?

Yes, you can invest $100 in Bitcoin as long as the platform you use does not have a higher minimum deposit limit.

What if I invested $100 in Bitcoin 10 years ago?

If you invested $100 in Bitcoin 10 years ago, it means that you bought around 0.153 Bitcoin. At the moment, 0.153 Bitcoin is valued at around $6,637. However, you should also consider where you kept that crypto for the past 10 years. If you used it for mining, lending, or yield farming, your amount of Bitcoin might have increased surprisingly.

In Conclusion

Bitcoin is extremely popular, and considering its high price, many investors started to look for the cheapest way to buy Bitcoin. If you, too, were wondering how to do it, we hope that our article was helpful and you found at least one way to buy Bitcoin that suits your needs and preferences.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
Press Releases