Are you looking to invest in the cryptocurrency market in 2023?
Are you struggling with the question of how to buy cryptocurrency at a low fee and without the risk of being scammed? This is a big issue in the largely unregulated crypto market.
The issues of fees and security are compounded by the fact that investor interest in cryptocurrencies is rising. Over the past decade, cryptocurrencies like Bitcoin, Ethereum, and Shiba Inu have given investors incredible returns on investment. This has also led to an increase in the number of people looking to buy cryptocurrency in 2023.
Unlike in the past when most cryptocurrency trading volumes were heavily focused on Bitcoin, altcoins are also gaining investor attention. For instance, searches for how to buy Bitcoin in the UK are now rivaled by altcoin-related searches.
The best part is that online brokers have been moving in tandem with these shifting dynamics. The number of brokers allowing you to buy cryptocurrencies commission-free is on the rise.
At Trading Education, we want to help you buy cryptocurrency safely and at low fees. Through this guide, you will get all the information you need about how to buy cryptocurrencies from a regulated and low-cost broker.
How To Buy Cryptocurrency – A Simplified Guide
eToro is one of the most secure regulated exchanges where you can buy cryptocurrencies. Follow the easy steps below to buy cryptos via eToro.
- Create an eToro account: Go to the eToro home page, and click Sign Up. The process is easy, as all you need to do is fill out a form with your personal information and a username of your choice.
- Deposit Funds: eToro has multiple options that you can use to deposit fiat into your account. They include credit cards, Skrill, Neteller, among other digital payment methods. The minimum you can deposit is $50.
- Search for crypto Assets: The platform has several cryptocurrencies to choose from. Navigate to the top of their page, and search for the cryptocurrency you want to buy. Once you click on it, you will find the “Trade” button.
- Buy Cryptos: Once you have found the coins you want to buy, enter the amount you would like to buy and click “Trade.” A quick reminder, though, the minimum amount you can spend per Crypto is $10.
If you want to learn more about the crypto buying process, we have a host of other comprehensive eToro guides that you might find helpful.
Where To Buy Cryptocurrencies Today – Best Place To Buy Cryptocurrency
While there are hundreds of exchanges and brokers where you can buy Crypto assets today, many of them are unregulated. This means there is always the risk of losing your investment.
For peace of mind, always trade cryptocurrency from a regulated broker that has low trading fees.
Below are some of the best exchanges and brokers to buy cryptocurrency today.
1. How To Buy Crypto Assets On eToro
eToro is one of the safest brokers where you can buy and sell cryptocurrency. Besides cryptocurrencies, eToro has multiple other assets, including forex, stocks, ETFs, and commodities like Gold and Oil.
Some of the cryptocurrencies you can buy on eToro include Shiba Inu, Dogecoin, Ethereum, Aave, Decentraland, Uniswap, Litecoin, and of course, Bitcoin. Besides giving you access to some of the best cryptocurrencies in the market, eToro is one of the most affordable brokers out there.
Unlike other brokers that charge fees, with eToro you buy cryptocurrency-based purely on the spread. As long as you have the minimum investment of $10, you will buy the Crypto you want regardless of how much it costs.
The best part about eToro is that you are not charged fees when depositing USD. This applies regardless of the method you are using to deposit, be it credit cards or electronic wallets such as Skrill.
You will also love that eToro takes care of those not conversant with cryptocurrency trading. Cryptocurrency, or any other form of trading, is not easy. To help you out, eToro has the CryptoPortfolio. Through the CryptoPortfolio, eToro gives investors a one-stop basket of cryptocurrencies. The portfolio is managed by professionals and are constantly rebalanced to reflect the dynamics in the broader market.
While eToro is highly regulated and safe, you need to know that cryptocurrencies are highly volatile and unregulated. This means there is always the risk of losing your capital while trading. Statistics show that around 68% of retail traders lose money on CFDs. As such, even as you invest, keep in mind that cryptocurrencies are high-risk instruments, and the risk of loss is pretty high.
2. How To Buy Crypto On Binance
Binance has distinguished itself as one of the best exchanges to buy Crypto, both for beginners and pro traders. One thing that sets Binance apart from the rest is its variety of crypto assets. There are over 500 cryptocurrencies that you can buy and sell on Binance, and it is constantly listing new ones.
Binance also has some of the lowest trading fees in the market. Binance can maintain super-low trading fees because it uses its own Crypto, Binance Coin, for fees.
Like Coinbase and eToro, Binance is also known for its multiple fiat deposit methods, and they are zero fees. For instance, regardless of where you are in the world, you can buy Crypto using fiat on the Binance peer-to-peer market at zero fees. When looking to buy cryptocurrency on Binance P2P, the only costs you incur are the exchange rate, which depends on your local currency.
You can also opt to do a wire transfer, and Binance will charge you nothing for it. If you choose to do a deposit via wire transfer, Binance has two options: Bank Transfer (Signet), and Bank Transfer (SWIFT). Each of these is free to deposit, but Bank Transfer (SWIFT) carries a $15 withdrawal fee.
Besides giving you access to a wide array of cryptocurrencies, and low-cost deposit methods, Binance has multiple passive income opportunities that beginner traders can use. For instance, through Binance Earn, you can earn a passive income from your Crypto. You can also use Binance to stake Crypto, which is also a good way to earn a passive income through your Binance account.
While Binance is a trustworthy and reliable cryptocurrency exchange, don’t forget that cryptocurrencies are risky. Due to the volatile nature of cryptocurrencies, you can lose a lot of money if the market goes against you. As such, it is best only to invest what you can afford to lose.
3. How To Buy Crypto On Coinbase
Coinbase is one of the most popular cryptocurrency exchanges for beginner investors, and for a good reason. Not only does Coinbase have an easy-to-navigate user interface, but it also has a step-by-step guide on how to buy Crypto. Depositing fiat to Coinbase is straightforward, too. You can do it via Bank Wire Transfer or through ACH. While these methods take a few days, they are easily accessible and understood by most first-time investors.
That said, if you want to take advantage of the latest trends in the market, Coinbase has faster options that you can use to deposit fiat and buy cryptocurrency. For instance, Coinbase allows for Visa and MasterCard deposits. Coinbase levies a 3.99% commission per transaction. The card commission is relatively high compared to the other methods that only attract a commission of 1.49%.
Despite deposit charges, Coinbase is one of the safest exchanges to buy cryptocurrency. Not only is Coinbase regulated, but it also utilizes some of the best security technologies available in the market.
If you want to learn more about Coinbase, we have many other reviews about this top exchange.
Check them out to get a more in-depth understanding of Coinbase.
While Coinbase is regulated and has in place some of the best security measures in the market, don’t forget that cryptocurrencies are inherently risky. As such, it is best to only invest what you can afford to lose.
4. How To Buy Crypto On Robinhood
Robinhood is an American broker that allows investors to buy both stocks and cryptocurrencies. Over the last two years, Robinhood has become a favorite among beginner investors looking to buy cryptocurrency.
One of the things that make Robinhood a favorite is its safety. Robinhood is regulated by the Securities Exchange Commission (SEC). On top of that, Robinhood is a member of the SIPC, which means, your funds up to $500k are fully protected.
Besides security, Robinhood has an easy-to-understand user interface. From inception, Robinhood was designed for beginner traders, including crypto traders. Robinhood also has a crypto variety, and you can buy some of the most popular cryptocurrencies on Robinhood.
Some of the cryptocurrencies to buy on Robinhood include Bitcoin, Bitcoin Cash, Bitcoin S.V., Dogecoin, Litecoin, and Ethereum.
Cryptocurrencies are high-risk assets. You can lose all your capital by trading cryptocurrencies.
5. How To Buy Crypto On Webull
Webull is an American broker that gives investors access to U.S. stocks, ETFs, and cryptocurrencies. Webull gives you access to some of the largest cryptocurrencies. Some of the cryptocurrencies to buy at Webull include Bitcoin, Ethereum Classic, Stellar, and Chainlink.
Like the other top cryptocurrency brokers and exchanges above, Webull is known for its low fees. You can trade cryptocurrencies on Webull at 0% commission. The only expenses you incur are on the spread, usually around 1%.
Webull is also one of the best for small investors who don’t have much money to risk in the cryptocurrency market. That’s because it does not have a minimum on how much you can deposit.
Webull also supports some of the most common and easy-to-use fiat deposit methods such as bank wire transfers and ACH.
Before using Webull to buy cryptocurrency, remember that cryptocurrencies are risky assets. There is always the risk of substantial loss when trading cryptocurrencies.
Read Also: 10 Cryptocurrencies To Explode Between 2023 And 2025
Detailed Guide On How To Buy Crypto On eToro
Go through the steps below, and start buying Crypto on eToro (an SEC-regulated broker) from as low as $10.
Step 1: Create an account
Go to the eToro home page and click on Sign Up. You will be prompted to fill out a form with your personal information. It’s pretty basic information, as you can see in the image below.
For the username and password, choose those that you can easily remember. However, make sure it is hard enough for anyone else to guess for the password.
Step 2: Upload your identification documents
Since it is a regulated broker, eToro needs your identification information for KYC purposes. This step is easy as all you need is an ID, Passport, or a recent utility bill attributed to your current address.
Step 3: Deposit Some Funds
Once your account is approved, make your first $50 or more deposit. You can deposit using e-wallets, ACH, cards, or even do a bank wire transfer. Please note that no fees apply for any of these deposits.
Step 4: Look for the cryptocurrency you want to buy
This is pretty straightforward. All you need to do is enter the name or ticker symbol of the Crypto you want to buy in the search bar.
It will be displayed there with a button labeled “Trade” ahead of it.
Step 5: Buy cryptocurrencies
The final step is to enter the amount you want to spend, starting at a minimum of $10. Once you have input the amount, click on “Open Trade” and your investment is in.
Best Methods To Buy Cryptocurrency
You may have noticed so far that there are multiple ways to buy cryptocurrencies.
Let’s now take a more detailed look into each of them to help you cut costs and buy cryptocurrency faster.
Buy Cryptocurrency with a Card (Debit/Credit)
Credit/Debit cards are among the fastest ways to buy cryptocurrency. They are among the best to buy cryptocurrencies on either eToro or Coinbase. However, it is essential to note that charges differ. Coinbase charges 3.99% for card deposits, while card payments are free on eToro.
Due to low fees and fast transactions, card payments dominate searches on how to buy Crypto in the UK.
Card payments are convenient, provided you confirm the charges before choosing this method of buying Crypto.
Buy Cryptocurrency with PayPal
PayPal has also gained traction to buy cryptocurrency because it is safe and almost instant. Of the many cryptocurrency brokers out there, eToro is among the few that support PayPal deposits.
All you need is to load your PayPal account with $50, and you can then go ahead and deposit the funds to your eToro account.
Buy Cryptocurrency with Skrill or Neteller
Like PayPal, Neteller and Skrill are instant and safe. eToro is one of the regulated brokers where you can deposit via Neteller or Skrill and buy Crypto. Just remember to load your e-wallet with $50 or more.
Best Cryptocurrencies To Buy Today
Currently, there are more than 15,000 cryptocurrencies, and the number keeps growing by the day. This can make it hard for a new investor to choose the best cryptocurrencies to buy.
To help you out, below are some of the best cryptocurrencies to consider:
This is the number one cryptocurrency by market cap and is one of the most adopted. As such, BTC is one of the safest for beginner investors.
Ether crypto is the largest smart contracts blockchain and has the widest ecosystem of DeFi and NFT projects. As smart contracts become increasingly important across industries, Ethereum is crypto worth buying today.
Binance Coin powers the world’s largest crypto exchange. Binance coin is also deflationary, a factor that plays well into its price dynamics. High utility and decreasing token numbers make Binance coin a good cryptocurrency to buy now.
Terra
Terra is a top performer and has been up by over 40,000% since launch. Terra has gained dominance in the algorithmic stable coins market, a factor that could help drive up its price long term. It’s a worthwhile cryptocurrency to buy now.
Decentraland is one of the largest cryptos focused on the Metaverse. With major corporations like Samsung launching projects on the Decentraland virtual world, MANA could be a promising cryptocurrency to buy now.
Please Note: Always do your own research before investing in the best cryptocurrencies.
Don't Miss: The 10 Most Profitable Cryptocurrencies To Buy In 2023
Why You Should Consider Buying Cryptocurrencies
Over the last 5-years, many more people have added cryptocurrencies to their portfolios. As of 2021, close to 20% had cryptocurrencies as part of their investment portfolios. However, this alone should not be a reason to buy cryptocurrency. Let’s explore some more reasons why you should consider buying cryptocurrencies.
Explosive Growth Rates
Cryptocurrencies have only been around for a decade, but they have made billionaires and many millionaires out of ordinary people. For instance, in 2020/21, Shiba Inu rallied by over 48,000,000%. This means anyone who invested $2 in SHIB in 2020 was a millionaire by 2021. For such potential, it is worth apportioning some money in Crypto.
Asset Diversification
Besides being a nice way to diversify from traditional assets, you can easily diversify among cryptos themselves. With over 10,000 cryptocurrencies in the market, you can easily spread your risks. All you need to do is buy cryptocurrencies that target different markets and increase your odds of striking it big.
With a broker like eToro that supports purchases of up to $10, it is easy to buy multiple tokens and increase your odds of success.
There are more regulated markets to buy Crypto now
Before 2017, there were very few regulated marketplaces where you could buy cryptocurrency. Investors were exposed to all kinds of shady exchanges. That is no longer the case. With regulators more involved in the markets, there are many regulated brokers where you can confidently buy cryptocurrency.
For instance, eToro is one of the regulated brokers that is regulated by the SEC and regulatory bodies in the UK, Cyprus, and Australia.
How To Buy Cryptocurrency In The USA
If you are looking to buy cryptos in the USA, then eToro is one of the regulated brokers that you can use to buy crypto coins in the USA safely.
Not only is it regulated, but eToro is also highly rated in the US and has in the past been ranked among the best online brokers in the country.
Read more:
The 5 Most Popular Cryptocurrencies In The USA
Ultimate Guide to Trading Cryptocurrencies in the USA
How To Buy Cryptocurrency In The UK
Searching for the most popular cryptocurrency exchange in the UK?
eToro is one of the top-ranked brokers in the UK. Not only is it regulated by the FCA, and help its users buy cryptocurrency in the UK.
The platform has over 30m users worldwide, and that number keeps increasing for users in the UK.
Related:
Ultimate UK Guide to Crypto Trading
10 Most Popular Cryptocurrencies In The UK
How To Buy Cryptocurrency In Australia
eToro is one of the safest brokers that you can use to buy cryptocurrency in Australia. Not only does it have a wide global customer base of over 10 million, but eToro is also regulated by the Australian Securities & Investments Commission (ASIC).
Read More:
How To Start Investing In The Cryptocurrency Market in Australia
Top Cryptocurrencies To Invest In Australia In 2023
Best Penny Cryptocurrency To Buy Today
There are multiple penny cryptocurrencies to buy and trade today.
One of the best you could consider is Shiba Inu. Despite its massive price rally in 2021, Shiba Inu still has a lot going for it at the moment. For instance, the SHIB team is working on building a Metaverse platform, a factor that could unlock value in SHIB.
The best part is that Shiba Inu is accessible through top brokers like eToro.
Check Out: Best Penny Cryptocurrency To Invest In 2023
Conclusion
Up to this point, you are aware of how to buy cryptocurrencies through regulated brokers like eToro.
eToro stands out among the rest because it has multiple cryptos to choose from, and it has zero fees for USD deposits. eToro is so effective that it has in the past been nominated as the best crypto wallet in the UK.
eToro is also popular for its low minimum trades, starting at a minimum of $10. This makes eToro one of the best brokers for anyone looking to diversify their portfolio but don’t have much to invest.
Even for newbies who have little knowledge of crypto trading, eToro is perfect because it has a copy trading feature. This feature helps beginner traders copy the trading moves of experienced traders and increase the odds of success.
eToro – The Best Cryptocurrency Platform
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
FAQs
How do you buy cryptocurrencies?
You can buy cryptocurrencies through highly ranked brokers like eToro.
What is the most efficient way to buy Crypto?
The best way to buy Crypto is through regulated brokers such as eToro and Coinbase. To make things easier, go for a broker that allows you to make e-wallet deposits since they are cheap and instant. For instance, you can buy Ethereum with PayPal using a top broker like eToro.
What is the best place to buy cryptocurrencies?
While there are many regulated brokers out there, eToro is one of the best. Its fees are low, and you can trade Crypto with as low as $10.
Which are the best cryptocurrencies to buy?
In a market with over 10,000 cryptocurrencies, you need to do due diligence to find out which one best suits your risk profile. That said, Bitcoin, Ethereum, and Binance Coin stand out among the best.
What’s the lowest risk method to buy cryptocurrency?
The only safe way to buy cryptocurrency is using a regulated broker like eToro. eToro is regulated in all major jurisdictions such as the U.S., U.K., Cyprus, and Australia.
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What Cryptocurrencies Have Proven To Have A Long-Term Future?