Step 3 - The most cost-effective ways to buy cryptocurrency
Whilst Coinbase is perhaps the easiest and mostly widely adopted platform for purchasing cryptocurrency, there are other options to consider, especially if you are purchasing from outside Europe, UK and USA, or are buying large quantities or very frequently (e.g.
Buy Crypto With Fiat (USD/EURO) - Kraken Exchange Tutorial!
for investment or trading purposes).
If you are from the Europe, UK or USA, one of the cheapest options is to transfer money (Euro, GBP, USD) into Coinbase Pro (either directly or via Coinbase) and then trade from there.
Coinbase Pro's fees are lower than Coinbase, however the interface is more complex to use (as with all exchanges).
Another issue with Coinbase Pro is that the number of altcoins available for trade is very limited.
So if you want to trade a wide variety of cryptocurrencies, you will need to buy Bitcoin from Coinbase Pro, then transfer the Bitcoin to another exchange.
Popular exchanges include:
|Exchange||Supports FIAT||Good For||Benefit of signing up with the links below||Fees|
|Coinbase Pro||Yes||A cheap method to buy cryptocurrencies from FIAT, especially if you are from Europe or UK, where you get deposits for free and a very low purchase rate|| $10 USD Bitcoin for free (when you buy or sell at least $100 of cryptocurrency).|
Register with Coinbase first then log onto Coinbase Pro with the same logon details
|Binance||No||Basic and advanced interfaces with rate discounts if you pay with BNB coin||Gives you a warm, fuzzy feeling; knowing that you have helped to support this site :-)||Fees|
|BitMEX||No||Up to 100x leverage on Bitcoin and high leverage on altcoin contracts||10% discount on fees for 6 months||Fees|
|Deribit||No||Supports cryptocurrency futures and options trading.
Supports multiple subaccounts under a primary user account
|10% discount on fees for 6 months||Fees|
Learn more about exchanges in our guide.