How to Buy Bitcoin without fees 2021: BTC trading without fees possible?
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Because bitcoin is still a popular investment that cannot be bought everywhere without fees.
In this article, we explain whether and how it is possible to buy Bitcoin without fees.
Buy Bitcoin without fees? The most important facts in brief
Where is the cheapest place to buy Bitcoins? Is it possible to buy Bitcoin for free?
Providers who want to tell us that it is possible to buy Bitcoin completely free of charge are hiding something. Because at some point you always have to reckon with the network fee - that means: it's not possible to do it completely without fees.
So it's more a matter of choosing the best, cheapest and safest provider. On the one hand, so as not to get ripped off and, on the other, to benefit from low fees and a reputable platform. Here is a comparison of providers with low fees when buying Bitcoin:
 | Trade real cryptos and crypto CFDs |
 | Low fees |
 | Broker fully regulated |
 | User-friendly platform 0% commissions Deposit from 20€ |
 | Good selection of cryptocurrencies |
In this case, we opted for our test winner eToro. On the multi-asset platform, there are not only Bitcoins, as one notices quite quickly, but also well-known and popular shares, derivatives on commodities, foreign exchange, ETFs and indices.
So anyone who wants to look around on the investment carpet in addition to the "buy bitcoin without fees" project is certainly in the right place with such a broad-based provider.
It is practical that customers have been able to trade here with the web trader since 2009 and that applications for mobile devices have also been part of the offer since 2011. This is ideal for buying cryptocurrencies on the go.
But back to Bitcoin. To buy some Bitcoins or Bitcoin fragments on eToro, you first need to open an eToro account. Let's take a look at how that works.
Buy Bitcoin (almost) without fees: Instructions for buying Bitcoin with the lowest fees at eToro:
Opening an account with eToro takes no time at all. To get to the relevant page on the platform, simply go to the website. There you will be directly provided with the link to register.
Step 1: Registration
As soon as you click on the registration button, you are automatically and intuitively guided through the clear registration process. First, however, the operators of eToro want to know who you actually are.
After all, this is what the laws for the protection against money laundering and terrorist financing want. So you have to disclose your personal data and enter your surname, first name and e-mail address.
Then you have to think of a secure password and wait for the confirmation email from the operator. This should appear in your digital mailbox within a few minutes. It contains the confirmation link that leads to the first login. Now you have access to the platform.
Step 2: The deposit
The next step is to make a deposit. At eToro this is done via PayPal, credit card payment and bank transfer. Skrill, Neteller, UnionPay, Webmoney, Yandex and Diners Club are also available for deposits. This should offer enough scope to process the deposit quickly and easily.
Step 3: Buy Bitcoin with few fees:
As soon as the funds have arrived in the account, you can start trading. In our case, of course, the aim is to buy Bitcoins with as few fees as possible. So we select the option "Buy Bitcoin" and look at the further procedure.
On eToro there are the following currency pairs with which you can secure Bitcoin: Bitcoin and Euro, Bitcoin and British Pound, Bitcoin and Japanese Yen, Bitcoin and Stellar, and Bitcoin and EOS. Now it is always up to the trader to decide which initial currency is interesting and suitable.
The fees are then also made up depending on the chosen initial currency. Once you have decided, the platform shows you the price trend for the day, the week or the month.
Then you choose your preferred payment method, after which eToro lists the potential prices. By the way, eToro's fees are clearly laid out and can be viewed at any time via the FAQs.
Step 4: Transfer Bitcoins to the free eToro Wallet
The purchased cryptocurrencies then end up in the user account and can be transferred from there to your own wallet. By the way, there are also in-house wallets at eToro, which means that bitcoins can also be managed via apps for the smartphone.
Is it possible to buy Bitcoin without fees?
Bitcoin is anything but a rock-solid investment. Nevertheless, this digital currency exerts an incredible fascination on many investors. And rightly so, because the technology behind the cryptocurrency is anything but boring.
Furthermore, it is now also possible to use the coins for payment in a wide variety of shops and on a wide variety of platforms. Pay for your coffee at Starbucks on the way to work in the morning with Bitcoins? No problem!
Or rather the hotel on the way to the Maldives via a tourism portal? That's no longer a problem either!
Beware of unknown providers
So bitcoin is on everyone's lips and yet many would-be investors don't know where to start investing. We now take a practical look at how you can buy Bitcoin without paying any fees.
If you start a search engine and dig through the articles on the web, it almost seems as if you can buy the sought-after cryptocurrencies without fees on any corner. But it's not quite that simple when you take a closer look at these offers.
Many free riders want to take the purchasing power of curious investors, but offer no value in return. Accordingly, one should be careful not to put one's foot in one's mouth and choose a dubious provider.
There is a good chance that it will clearly say "Buy Bitcoin without fees", but in reality it will say "You will never see the value of your deposit again". There are many providers out there who do not have the best interests of investors in mind.
Most of them then entice you with record-breaking deposit bonuses and more. So let's first take a look at what distinguishes a reputable provider from a not-so-reputable operator!
Bitcoin trading without fees possible?
Our readers already know that there is a difference between buying and trading bitcoin. So the question is quite justified whether you can at least trade bitcoin without fees?
But here, too, you have to face reality. Since trading platforms also want to make a profit, free offers would hardly make sense. It may be possible to find special promotions with some providers. However, these are then logically very limited and are only intended to attract new customers.
Again, it should be emphasised that it is best to stay away from unregulated offers. Even if you get the promise that you can trade Bitcoin without fees, there is no security and in the worst case you can lose your euro investment without ever having received BTC.
Sell Bitcoin without fees
We don't want to disappoint you again. And so we say: Yes, you can sell Bitcoin without fees. However, this is hardly possible in an official way without a trustworthy contact.
Provided the buyer agrees to pay the network fee, you can sell him your own Bitcoins. However, there is one peculiarity to note. The network fee is automatically deducted when the tokens are sent.
This must then simply be refunded by the buyer. In the best case, the money is then received privately or by free bank transfer. PayPal also offers free transactions among friends and acquaintances.
However, this method is the only serious way to sell Bitcoin without fees.
Learn to differentiate between serious and dubious offers - Why only buying with few fees is possible:
In our big online broker comparison you will find some tips and tricks for choosing reputable providers. With these platforms, you can be sure that there is no scam or fraud behind it, but a conscientious team of crypto-loving professionals.
If you want to look elsewhere, there are a few factors to consider. For one thing, not all that glitters is gold - this also applies to the cryptoverseum. Even if a platform comes across as stylish, you should not let yourself be deprived of deeper research.
First of all, take a closer look at the website's imprint. If there is no imprint or only a very poor imprint, stay away!
After all, there are certain laws that require a detailed imprint. Those who do not comply with these laws and prefer to remain unrecognised may have something to hide.
Ask customer support
Furthermore, it is important to find a customer support: Is there a way to get in touch with the customer support? Because when investing in cryptocurrencies, there may be questions that can be better clarified in contact with a professional.
Furthermore, the platform should offer all interesting and necessary information so that even inexperienced investors feel well advised.
Especially when it comes to buying Bitcoin without fees, the advertising promises are almost unbelievably exuberant. In most cases, however, the aim is to persuade naïve investors to invest, which often ends up in the pockets of the providers themselves.
Seriousness is therefore the be-all and end-all when buying crypto. After looking through many, many offers, it becomes clear at some point that it will probably not be possible to buy coins without any fees.
Buy Bitcoin for free? Or buy Bitcoin with the lowest possible fees?
If you now look around on the various reputable platforms, you will come across fee tables everywhere. We will now take a look at what fees can be incurred when buying cryptocurrencies.
Bitcoin transaction without fee (why it is not possible)
We'll go into a little more detail in a moment, but for those who are in a hurry, here is a short summary of why a Bitcoin transaction without a fee is not possible.
- First and foremost, there are the regular costs that arise when using a trading platform. The providers have to finance themselves and thus charge a fee for their service.
- The fact that a Bitcoin transaction without a fee is not possible is also due to the network fees that occur. They are actually a technological tool to confirm the transactions in the blockchain.
- One can still think of the other connection. Bitcoin miners use sometimes enormous electricity costs to create new BTC tokens and keep the network alive. So in a way, it is the natural cycle that somehow feeds the miners' costs back into the network.
he one hand, there are the marketplace fees and the network fees. These can be more or less with the different providers.
However, this also depends on the nature of the platform itself. Are you buying directly on a cryptocurrency exchange or is it more about P2P trading?
The marketplace fees when buying Bitcoins
Especially on P2P platforms, there are usually marketplace fees. These marketplace fees are usually set by the operators themselves. If a purchase/sale is concluded, the buyer and seller usually share these marketplace fees.
However, there are rarely any nasty surprises here with reputable providers, because these fees are already shown in advance on recommendable platforms.
Network fees when buying Bitcoins
Network fees are incurred when you want to transfer the coins. However, network fees are charged per withdrawal. Since network fees can change from time to time, you should always find out exactly what costs you will incur before making a transfer.
The network fees are not paid to the platform itself, but always to the miner who processes the transaction and places a corresponding new block on the blockchain. Now it is also clear why it is actually not possible to buy Bitcoins without fees.
Even if the platform itself does not charge any fees for the purchase, the transfer of the coins is always associated with costs based on the network behind it.
The network fees are an interesting part of the investment in cryptocurrencies. This is because the bitcoin transactions must include the network/transaction fees.
After all, the miners who make the transactions possible in the first place must also be paid accordingly for their efforts. However, there are price differences when it comes to transactions.
The higher the fees, the faster the transaction. There are indeed some wallets where the amount of the network fees and thus the transaction speed can be adjusted manually.
Two reasons why it can't be done without network fees
Of course, transferring bitcoins without network fees would somehow be more attractive. Not for the miners, of course, but for us as hodlers. However, there are two good reasons why it simply cannot be done without network fees - which, by the way, are not even that high, even if they are subject to fluctuations.
The first reason is simply the allowance for the miners. We have now discussed this area sufficiently. But why do the miners actually want to see a small contribution to expenses?
Because they have expenses while enabling us crypto-lovers to safely transfer the cryptocurrencies in demand. On the one hand, there are the electricity costs they have for running the computers.
But on the other hand, there are also very basic costs for the technical equipment itself. Furthermore, mining has to be worthwhile somehow, after all, it is also a time-consuming task.
But we know another reason why network fees are necessary: It is overload protection. Actually, the computing effort for the miners to transfer the Bitcoins is rather small.
Especially when it comes to smaller amounts. So it wouldn't be inconceivable that miners who are not positive-minded could get involved and cause an overload of the entire system. That should not happen, of course. And that is exactly what the network fee prevents.
A suitable Bitcoin wallet with few fees
Are you looking for a Bitcoin wallet with low fees? We recommend eToro, as it combines the services of a regular online broker with those of a crypto service provider. The crypto wallet is available free of charge for registration and can be controlled via an app.
Nevertheless, we recommend taking a look at our big bitcoin wallet comparison, as a range of digital wallets is presented here. This way, you are sure to find a suitable Bitcoin wallet that comes with few fees.
How High Are the Fees When Buying Crypto?
Are there Bitcoin exchanges without fees?
We have learned that buying Bitcoin without fees is almost impossible. Let's take the following example to compare the fees when buying Bitcoin:
We buy Bitcoin for €1,000.
We keep our Bitcoin for 30 days and then sell it again
We assume that the exchange rate does not change during the 30 days.
Here's how the following fees stack up at eToro, Coinbase, Libertex and Plus500:
providers | etoro | coinbase | Plus500 | Libertex |
|---|---|---|---|---|
Deposit | for free | 3.99% | for free | for free |
Purchase fees | 0,75% | 1.49% | 3.08% | 0,41% |
Holding fees | for free | for free | 0.05% | for free |
Sales charges | 0,75% | 1.49% | 3.08% | 0,41% |
Payout | 5 USD | $ 0.15 | 1.9% | for free |
Total fees | 19,20€ | € 68.24 | € 92.32 | 8,20€ |
Conclusion
Conclusion: Buying Bitcoin without fees not possible
We keep in mind that buying Bitcoins completely without fees is usually not possible. If a provider promises otherwise, you should exercise the utmost caution. Because there are some providers out there who are not very serious.
Accordingly, if you want to buy Bitcoins, you should always turn to a reputable, recommendable and extensively tested provider (we recommend our test winner eToro).
There, the purchase of Bitcoins is usually associated with low fees, which should, however, be manageable.
We chose the eToro platform for our investment in the oldest cryptocurrency. On the one hand, because many customers are already extremely satisfied with eToro's service and, on the other hand, because there are no fees for the purchase of Bitcoins here.
The fees that investors have to expect either way are the network fees. These are not charged by eToro, but by the network behind the digital currency itself. However, costs are only incurred when the coins are transferred.
The fees then go to the miner who makes the transfer possible in the first place by placing a new block on the blockchain. So we summarise: Buying Bitcoins without fees is not really possible.
What is possible, however, is to pick a safe and trustworthy, as well as cheap, provider to make the most of your crypto investment adventure.
FAQ
Buying Bitcoin without fees is only possible on dubious P2P platforms. We therefore advise against trying to buy Bitcoin without fees.
We recommend our test winner eToro, which has particularly low fees.
At the latest when transferring via the Lightning Network, a fee is charged on the purchase, as the entire blockchain is built on the mining fees.
Yes, once you have bought Bitcoin e.g. at eToro, you can transfer Bitcoin to the integrated eToro Wallet for free.
