How to Buy Bitcoin(BTC)

There are several difficulties you may encounter while buying Bitcoin(BTC) crypto. You may not sure where and how to buy it. Now CoinCarp will show you the ways how to buy Bitcoin(BTC) easily. Learn how to buy Bitcoin(BTC) with this Beginner's Guide.
  • What is Bitcoin(BTC)?
  • Where to Buy Bitcoin(BTC)?
  • How to Buy Bitcoin(BTC) with Cash/Credit Card/Debit Card?
  • How to Buy Bitcoin(BTC) with USDT From CEX?
  • What to Do After I Buy Bitcoin(BTC)
  • Frequently asked questions

What is Bitcoin(BTC)?

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto who published a related paper in 2008 and released it as open-source software in 2009. The system featured as peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value by now.

Where to Buy Bitcoin(BTC)?

Bitcoin can be purchased from a variety of locations today, such as crypto exchanges, crypto wallets and various fintech platforms, or even directly from other individuals. However, the easiest and safest place to purchase Bitcoin is through a trusted cryptocurrency exchange or cryptocurrency wallet.
Many crypto exchanges or crypto wallets provide Bitcoin(BTC) over-the-counter (OTC) trading services and support buying Bitcoin(BTC) with fiat currency. In that case, it is easy for you to choose a crypto exchange or crypto wallet to buy, sell, and trade Bitcoin(BTC) with your local fiat currencies, such as USD, EUR, TRY, PHP, etc. You can select from one of the crypto exchanges and crypto wallets that support OTC Bitcoin(BTC) trade listed by CoinCarp:

If you want to buy Bitcoin, you may need to prepare the following things:

  • Crypto exchange account or crypto wallet account. Except for the crypto exchange account, it is recommended to create a crypto wallet(such as Metamask) account. (What Is a Crypto wallet?)
  • Personal identification document (if you are using the Know Your Customer (KYC) platform)
  • Secure internet connection
  • Valid payment methods, such as bank accounts, debit cards, and credit cards

Many crypto exchanges or crypto wallets provide Bitcoin(BTC) over-the-counter (OTC) trading services and support buying Bitcoin(BTC) with fiat currency. In that case, it is easy for you to choose a crypto exchange or crypto wallet to buy, sell, and trade Bitcoin(BTC) with your local fiat currencies, such as USD, EUR, TRY, PHP, etc. You can select from one of the crypto exchanges and crypto wallets that support OTC Bitcoin(BTC) trade listed by CoinCarp:

Buy
With
In
Huobi Global
Launched Seychelles
Founded 2013-09
Pay with
Binance
Launched Unknown
Founded 2017-07
Pay with
Kucoin
Launched Seychelles
Founded 2017-09
Pay with
Coinbase
Launched USA
Founded 2014-05
Pay with
OKX
Launched Seychelles
Founded 2014-01
Pay with

Except for buying Bitcoin by cash (fiat currency), you can choose to purchase stable coins(such as USDT, USDC, BUSD, etc.) first, then swap them to Bitcoin(BTC) in crypto exchange. Now, Bitcoin(BTC) is listed in the following exchanges, you can choose one to buy, sell, and trade Bitcoin(BTC) with stable coins or swap with other altcoins:

Bitcoin Markets
ExchangePairsPriceVolumeVolume%24h%Updated
Binance Binance BTC/USDT$23,925.94$4,444,733,46111.98%
3.58%
Recently
Binance Binance BTC/BUSD$23,930.76$1,540,742,2094.16%
3.57%
Recently
FTX FTX BTC/USD$23,929$636,105,4971.71%
3.57%
Recently
Coinbase Pro Coinbase Pro BTC/USD$23,926.23$536,124,0431.44%
3.77%
Recently
OKX(OKEx) OKX(OKEx) BTC/USDT$23,924.7$379,281,0371.02%
3.60%
Recently
Crypto.com Exchange Crypto.com Exchange BTC/USDT$23,925.67$350,559,9950.94%
3.60%
Recently
* Price Excluded ** Volume Excluded

How to Buy Bitcoin(BTC) with Cash/Credit Card/Debit Card?

To buy Bitcoin(BTC) using cash, such as USD (US Dollar),  you will have to use a cryptocurrency exchange or financial service that supports funding via either your bank account or credit card. Different countries may have different supported platforms, for example, you can buy Bitcoin(BTC) via Coinbase, Paypal (or Venmo), or Robinhood in  the United States. However, for most of the countries, the mainstream platforms that support Bitcoin(BTC) trading(OTC) with cash are centralized exchanges(CEX), such as Coinbase, Binance, etc. Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general  procedures.

  • Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. (Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.
  • Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account.  You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.
  • Step 3: Add a payment (funding) method to your centralized exchanges(CEX)'s. To add a payment method to your account, you can either click on the "Add payment method" box that appears at the exchange or clicks on your profile photo and settings the payment methods. 
  • Step 4: You can choose to buy Bitcoin(BTC) with a Debit/Credit Card, Bank Deposit, and Third-party Payment. Generally, it varies from different CEX and different areas. For US residents, if you are using Coinbase, you can click on the "Trade" button next to the coin then fill out how much US Dollars you'd like to invest in and click the "Buy" button.

Also, you can buy and sell Bitcoin(BTC) on P2P platforms. P2P (Peer-to-Peer) trading is also known as C2C (Customer-to-Customer) trading in some regions. In P2P trade, the users directly buy or sell cryptocurrencies from each other on a P2P platform, exchange, or marketplace. 

How to Buy Bitcoin(BTC) with USDT From CEX?

  • Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general  procedures.
  • Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. (Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.
  • Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account.  You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.
  • Step 3: Use fiat to buy USDT. You can use the service provided by the CEX which supports OTC trading or use the financial service platform(Paypal, or Robinhood, available for US residents) that supports funding via either your bank account or credit card. 
  • Step 4: Transfer your USDT purchased by fiat to the CEX that supports Bitcoin(BTC) trading in spot market and buy Bitcoin(BTC) in spot market by USDT.

Note: Some CEX may not available in your country or area, you'd better consult the exchange's customer service or check the announcement from exchanges. As for the tax issue, you may consult the local department for more information.

What to Do After I Buy Bitcoin(BTC)

Store/Hold Bitcoin(BTC)

Many investors hold their Bitcoin with the expectation of it increases in value. You can store your Bitcoin on your exchanges' wallets(such as Binance Wallet) or on crypto wallets( such as Trust Wallet), if you wish to store them for the long term, you can store them in a cold wallet instead of a hot wallet. ( Hot Wallets vs Cold Wallets: What's the Difference? ).

Trade Bitcoin(BTC)

You can trade Bitcoin(BTC) for other cryptocurrencies on crypto exchanges. Cex or Dex exchanges offer some trading pairs for Bitcoin trading to meet your needs.

Earn Bitcoin(BTC)

Earn Rewards by staking coins. Staking is a great way to maximize your holdings in staking coins that would otherwise be sitting in a wallet or trading account.

Transfer

Unlike sending money overseas, you can send Bitcoin to anyone in the world virtually instantly.

Purchasing Goods

Some online platforms or offline shops accept crypto as payments. You can purchase good or service from these places.

Frequently Asked Questions(FAQ)

Can I buy 1 Bitcoin(BTC)?

The simple answer is "yes", and you can buy less than 1 Bitcoin. This is true for almost all cryptocurrencies. But in most crypto exchanges, you should buy any amount starting from $5 to any higher amount.

Is Bitcoin a good investment in 2022?

The crypto price is unpredictable. All investment has their fair share of ups and downs. There is no exception for Bitcoin.
For the people who truly believe in the value of cryptocurrency and the future application of crypto, Bitcoin may be a worthwhile investment.
However, the crypto market is incredibly volatile like the stock market, it is not recommended to invest all your assets in crypto. Investors definitely need to evaluate the pros and cons of Bitcoin. Sometimes you should do some research, for example, read the white paper of the project or check the data of historical Bitcoin price or Bitcoin Return On Investment(ROI). Ultimately, it depends on your appetite for risk.

How to Store Bitcoin(BTC)?

If you want to keep and hold Bitcoin(BTC) for the long term and do not plan to sell them, security may be the first thing you should consider. Although keeping them in most of the top exchanges' wallets nowadays is safer than before, with the development of security techniques, however, because of the very nature of the wallets in exchanges, they will be always online( so-called "hot wallet"), it is possible of being a hack. What's more, the exchanges shut down may cause the loss of your fund. So the safest way of storing your coins or tokens is always putting them into "Cold Wallets", it is the wallet that is totally offline. There are two types of cold wallets:

  • Paper wallet: It is simply formed by using a program to randomly generate a public and private key offline and you can print them on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. 
  • Hardware cold wallet: Hardware wallets are physical devices where you can store your cryptocurrency. Your crypto addresses and keys can be kept in a USB drive device, and only the person who possesses the USB drive can access the assets. 

Nowadays, most people prefer to use hardware cold wallets, if you want to store a large number of coins or tokens, you can choose to use a hardware cold wallet to store your assets. 

How long does it take to buy Bitcoin(BTC)?

You can buy Bitcoin instantly from crypto exchanges like CEX. However, the KYC process could take a few minutes to hours. Once you have a verified account, you can always buy or sell Bitcoin instantly. If you use P2P or bank transfer deposit to purchase, it may take longer, dozens of minutes or even hours.
As for DEX, the transaction will be confirmed by the node in the network. The confirmation time depends on your gas price. If you submit with a low gas price, you can find your transaction taking a long time to process. For advice on what gas prices will result in a transaction being finalized in a reasonable amount of time, if you are using the Ethereum network, please refer to sources such as Etherscan's gas tracker, or a similar tracker for whichever network you're using.

Bitcoin Price

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Price $23,918.75
24h Change 3.53%
7d Change 4.35%
30d Change 14.49%

Bitcoin price today is $23,918.75 with a 24-hour trading volume of $19,399,487,049. BTC price is up 3.53% in the last 24 hours. It has a circulating supply of 19.12Mil BTC coins and a max supply of 21Mil.

Bitcoin Real-time Price

Where Do I Actually Buy Bitcoin

If you've made up your mind and are ready to make a purchase, then skip this article and buy Bitcoin
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