Buy Bitcoin in under 10 minutes incl. instructions, Bitcoin calculator & tips

Direct comparison: The best providers to buy Bitcoin

Unsure whether an exchange or broker is right for you? With our tool you can directly compare all exchanges and brokers:

With a market capitalisation of over 250 billion euros, Bitcoin also clearly stands out from all other cryptocurrencies (Ethereum - 23 billion, Ripple - 8 billion). Thus, there is more money in Bitcoin than the whole of Austria generates in one year (2019).

The price developments of the cryptocurrency are also unique. For example, the Bitcoin had a price increase of 1062% in 2017! This means that if you bought a Bitcoin for €930 on 01.01.2017, you could sell it for €11,237 on 01.01.2018. For a short time, there was even an increase to 16,892€. Even in 2020, the price was able to climb from €6,414 to €9,157 on 1 January to 1 June. Buying Bitcoin thus offers enormous potential for anyone willing to take risks.

Bitcoin Exchanges: Best Option to Buy Bitcoin

Bitcoin Broker: Best option to trade Bitcoin

Buy Bitcoin: Comparison of fees between brokers and exchanges

If you want to buy Bitcoin and are still unsure about the choice between broker and exchange, a look at the fees will probably help. Of course, every provider takes different types and levels of fees. Basically, however, it can be said that brokers or exchanges each work according to the same principle, so the fees at the exchanges or brokers are always similar.

Types of fees that occur frequently - and that you should pay attention to as a buyer - are:

    Deposit fees
    Purchase fees (often also called spreads)
    Holding fees (only with some brokers if the positions remain open overnight)
    Selling fees
    Withdrawal fees

We would like to illustrate the whole thing with an example. We buy bitcoin for 500€, hold them for 30 days, sell them again and have the money paid out to our account. For our example, we assume that the price does not change in the 30 days. We use coinbase as an example for an exchange and eToro as an example for a broker.

Fees when buying Bitcoin with different payment methods

Reputation: The reputation of Bitcoin

In summary, it can be said that buying Bitcoins always involves a risk. However, those who are aware of these risks can confidently start investing in Bitcoin.

The best time to buy Bitcoin

If you want to buy Bitcoin, you should only do so after some preparation and research. Of course, the question of the best time to buy Bitcoin arises. While it is impossible to predict the correct time, there are some criteria, theories and aspects that help determine a suitable time.

Buy cheap, sell dear - what applies in trading and on the stock market can of course also be applied to buying Bitcoin. Easier said than done, of course.

Bitcoin is more volatile and risky than other investments

Risk and volatility are omnipresent for investors and traders and should be factored into all buying decisions. However, this is even more true for Bitcoin investors than for investors who do not invest in cryptocurrencies.

While price changes of 10% practically never happen with shares or commodities, this may even be the case several times a month with Bitcoin. This is particularly important for choosing the right time to buy Bitcoin because price changes have to be assessed differently. In addition, a higher risk and volatility is simply to be accepted.

In order to maximise the probability of buying Bitcoins at the right time, it is worth taking a look at the important basics of investing. These approaches have been tried and tested on the stock market and can also be applied to bitcoins to a certain extent.

The power of emotions

Whether a newcomer to the crypto market or an already experienced trader - every investor or trader must be aware that buying Bitcoin (and other cryptocurrencies) is too often influenced by emotions or controlled by them entirely. Two emotional phenomena can lead to buying impulsively and thus rashly at the wrong time: FOMO (Fear of Missing Out) and panic selling.

FOMO sets in when you look at the trading chart and see a price climbing steeply upwards. The (often erroneous) assumption is that the current upward trend will continue and that it is better to buy now before paying more unnecessarily. So one buys - without thinking - and possibly catches a moment close to the all-time high, from which the price falls steeply downwards again.

Panic selling, on the other hand, is the opposite phenomenon for existing Bitcoin investors. If you look at the trading chart and notice that a crowd of investors is selling Bitcoin, you assume (often wrongly) that the price decline will continue for a long time. In panic, all existing BTCs may then be sold - but in fact (unfortunately we don't know!) it could be a good time to buy Bitcoin!

Is there really a best time?

One thing must be said quite clearly: all the tips presented so far can only help to estimate better times. In any case, there is no "best time" - it also depends on the investment goals and time horizon.

If you follow the current price development, you should enter at the most favourable price - that is the theory. However, you never know for sure how the price will change in the next second. Whether it was the best time is always known only in retrospect and thus much too late for the purchase decision in the present.

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