Are you looking for where to buy bitcoin safely in New York, US, at a cheaper rate? A decentralized digital currency like bitcoin runs independently of banks and governments. It was introduced in 2009, making it the very first cryptocurrency. In a little more than ten years, Bitcoin (BTC) has transformed from a mysterious digital token used only by a select few into a means of payment and a form of asset storage that millions consider to be the future of money.
You must first open an exchange or platform that supports Bitcoin trading if you want to purchase Bitcoin. Below, we list our top recommendations for where to safely buy bitcoin.
Where to Buy Bitcoin
To find out where to safely buy Bitcoin or any other cryptocurrency, you will need to find a crypto exchange where buyers and sellers can come together to trade dollars for coins. Since almost ten years ago, Bitcoin has been a popular form of electronic money. Although Satoshi Nakamoto developed it in 2009, the true identity of the creator has never been established. Bitcoin eventually made its way into the American financial markets, though it took some time for the rest of the world to accept it.
There are a ton of exchanges available, but as a beginner, you should pick one that strikes a balance between usability, low fees, and high security. If you are looking for an exchange but don’t know which one to choose, look at our list of the best crypto exchanges.
#1. Gemini
With its main office in New York, Gemini is a Bitcoin exchange that accepts users from the US, UK, Canada, Hong Kong, Japan, Singapore, and South Korea. You can use a wire transfer, SEPA transfer, or ACH transfer to make deposits.
Gemini is one of the few exchanges that cater to both novice and experienced cryptocurrency investors. Gemini’s standard trading interface is simple to use and offers more than enough functionality for the majority of investors to buy and sell cryptocurrencies. Additionally, the exchange provides Gemini ActiveTrader, a high-performance cryptocurrency trading platform made for seasoned investors. Furthermore, you can place different types of orders.
With the help of this lending program, you can safely buy bitcoin at a cheaper rate in New York, USA. It allows you to earn interest on any cryptocurrency balances that are sitting idle. Gemini’s mobile app provides access to the Gemini Pay feature. Using QR code technology, users can now use their cryptocurrencies to make purchases at more than 30,000 retail locations in the United States.
The web platform and mobile app for Gemini, a cryptocurrency exchange, are both accessible. Gemini levies transaction and convenience fees for trading cryptocurrencies on its web platform and mobile app. The convenience fee is an additional 0.5% on top of the quoted price of a cryptocurrency.
#2. Kraken
One of the first US cryptocurrency exchanges is this one. His platform has very low trading fees and offers a large variety of coins. Along with offering advanced order types, margin trading, and other sophisticated trading tools, it is also one of the few exchanges in the US that offers futures trading. In addition to a chatbot and phone support, Kraken provides good customer service options. In addition, you can withdraw Bitcoin (BTC) at a lower cost.
#3. Coinbase
The biggest Bitcoin (BTC) broker globally is Coinbase. They stand for a quick and simple way for new users to buy bitcoins. Over 30 nations, including the US, Canada, Singapore, Europe, and the UK, use Coinbase to service their customers. Customers in the aforementioned nations can buy bitcoins using a debit card, bank transfer, SEPA transfer, and other methods. In the US, you can purchase bitcoin under New York Bitlicense regulation.
A large selection of cryptocurrencies, an intuitive interface, and useful educational materials are all features of Coinbase. It additionally offers sophisticated trading tools for more seasoned cryptocurrency investors. You can access both simple and sophisticated trading tools on Coinbase from your account. The user-friendly design of the simple trade option makes it simple to use. The only drawback of these options is the extremely high fees for simple trades.
Coinbase Earn, one of the more interesting features of this exchange, allows you to earn free cryptocurrency in exchange for finishing educational modules about it. The Coinbase mobile app is an easy way to manage, buy, and sell cryptocurrencies, just like the web platform. I
If you intend to trade cryptocurrencies on your phone, it’s a fantastic option. Moreover, it provides cutting-edge trading tools.
#4. Crypto.com
With more than 250 cryptocurrencies available, this offers a very good selection. For holders of the Crypto.com Visa Card, the platform provides special benefits and cryptocurrency rewards.
Users who maintain large balances in CRO are eligible for reduced trading fees. At Crypto.com, you can receive up to 8% cashback. It has a high cybersecurity rating and offers limited margin trading.
#5. BYDFi
This cryptocurrency exchange with headquarters in Singapore offers trading options in more than 150 nations.
One of the few exchanges, BYDFi, has licenses in Australia, Singapore, and the United States and complies with financial industry regulations. Users who are interested in spot trading will appreciate the low trading costs and a good choice of well-known cryptocurrencies.
BYDFi offers low trading fees, a global platform that accepts more than 50 fiat currencies, as well as cold storage and an online wallet.
#6. Robinhood
The primary innovation of Robinhood was the development of zero-commission stock trading. Through its service called Robinhood Crypto, Robinhood provides cryptocurrency trading. At any time of the day, customers can purchase and sell cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others. When buying or selling Robinhood Crypto, you can specify the price using a limit order.
#7. SoFi
With SoFi, investors can safely buy and sell bitcoin around the clock using the same SoFi Invest platform they use to buy and sell stocks. SoFi runs its investing platform and other financial products through an easy-to-use app.
Essential benefits like no trading commissions, no account minimums, and a top-notch mobile app experience are all included in SoFi Active Investing. Only a few brokerages, including SoFi, allow stockholders to purchase fractional shares.
To put it simply, stockholders can purchase a fraction of a share for as little as $5. This means that even though it may seem like a small amount, investors can open accounts with just a small initial deposit and invest that sum of money, even in stocks with high share prices.
#8. Binance
Popular cryptocurrency exchange Binance.US offers a wide variety of cryptocurrencies and has reasonable exchange fees. It has outstanding security credentials and provides a wealth of features for both novice and experienced traders. Its low fees and comprehensive list of available cryptocurrencies set Binance.US apart from other cryptocurrency exchanges. Binance.US’s fee-friendly pricing structure is one of its main draws.
A maker/taker fee of up to 0.1% is all that traders must pay, which is much lower than what other platforms require. Additionally, Binance.US is the only significant cryptocurrency exchange where you can safely buy bitcoin in the U.S. that provides 0% fee Bitcoin trading on eligible pairs to all customers without imposing any trading volume requirements.
Another benefit is the widespread use of Binance. Direct purchases of US cryptocurrencies can be made with US dollars. Binance.US has more than 120 cryptocurrencies on its platform. Crypto withdrawal costs vary greatly depending on the cryptocurrency, and cryptocurrency deposits are typically cost-free.
Where to Safely Buy Bitcoin NYC
If you’re an investor in New York, you probably know that the city has some pretty strict rules regarding Bitcoin. The New York State Department of Financial Services (NYSDFS) issues BitLicenses as business permits for activities involving digital currency. This includes holding cryptocurrency on behalf of others, exchanging it, managing it, buying, selling, etc.
In essence, you are prohibited from performing any crypto-related tasks in New York or for its citizens if you do not possess a BitLicense. The best way to purchase cryptocurrency in New York is through a crypto exchange like Coinbase or Gemini, two of the biggest cryptocurrency exchanges in the world with legitimate BitLicenses that allow them to legally trade cryptocurrency in the city.
Where to Buy Bitcoin Cheaper
A cryptocurrency exchange or trading site like Gemini allows you to purchase bitcoin in New York at a lower price. The following are platforms where you can also buy bitcoin at a cheaper rate
#1. ZenGo
By removing the private key vulnerability, this is the Web3 non-custodial wallet that is the easiest and most secure to use for cryptocurrency investments. You can open an account in under 60 seconds and become the legal owner of your cryptocurrency. ZenGo is a platform where you can buy bitcoin at a cheaper rate. It accepts payment via bank transfer, credit or debit card, cryptocurrency, and Apple Pay. ZenGo offers 3FA security and a user-friendly interface.
#2. Uphold
This platform is 100% reserved and transparent, guaranteeing the security of user funds and allowing you to trade 200+ cryptocurrencies (including BTC, ETH, XRP, XDC, DAG, ADS, CSPR, and QNT) and purchase bitcoin for less money. Although there is no fee, a spread of up to 1.25% is still present. As well as credit or debit cards, cryptocurrencies, Apple Pay, and Google Pay, it also accepts bank transfers. Uphold has a 2-way factor authentication.
Uphold accounts are simple to set up, excellent for beginners and have user-friendly web and mobile applications. In this case, Uphold is a good option if you’re looking for a cheaper location to safely buy bitcoin.
#3. Binance
This is one of the best platforms where investors can safely buy bitcoin at a cheaper rate. More than 150 cryptocurrencies are available for trading there. Additionally, it offers an API so you can incorporate your current trading website or mobile application. Binance offers both simple and complex trading exchange interfaces. it does not also require any KYC for daily withdrawals of up to 2 bitcoin.
For deposits, Binance accepts debit and credit cards, cryptocurrencies, bank transfers (ACH), PayID, and these cards. has a $100 minimum balance requirement and charges 0.02% maker fees and 0.04% taker fees.
Where to Buy Bitcoin by Credit Card
Investors should take into account the possibility of higher transaction fees on certain funding options on platforms. Although it is possible to safely buy Bitcoin with a credit card, we strongly advise against it. This is because cryptocurrency exchanges frequently charge exorbitant fees for credit card transactions.
Furthermore, using a credit card to purchase cryptocurrency will typically be treated as a cash advance and come with a higher interest rate than normal charges. Furthermore, it is extremely risky to take on debt to buy volatile investments.
Generally speaking, it’s best to use cash or another cryptocurrency that you already own to pay for cryptocurrency purchases.
Where Is the Best Place to Buy Bitcoin?
- Uphold.
- ZenGo.
- eToro.
- Crypto.com.
- Binance.
Can I Buy Bitcoin for $10?
Yes. The majority of BTC-selling exchanges have a $10 minimum order requirement. A great first step to understanding bitcoin and how to use it is to invest $10 if you are just getting started. You eliminate the risk of making expensive mistakes by starting small. Once you are comfortable with bitcoin, you can always safely buy more.
It probably doesn’t make sense to purchase just $10 worth of bitcoin if you intend to use it as an investment. This is because purchasing bitcoin requires taking into account a steep learning curve as well as additional costs.
How do Beginners Buy Bitcoins?
Create an account with a crypto exchange or online brokerage that supports cryptocurrency trading to purchase cryptocurrencies. Additionally, even though your exchange might offer one, you’ll need a cryptocurrency wallet to store your cryptocurrency.
Choose a cryptocurrency exchange with caution. You cannot transfer your coins off of some cryptocurrency trading platforms, including PayPal and Venmo. This is a significant drawback for serious cryptocurrency investors.
After deciding on an exchange and a wallet, you can purchase cryptocurrency by depositing US dollars into your account using an ACH or wire transfer. It’s even possible to purchase cryptocurrency using a credit or debit card. However, this might come with extra costs, some of which can be quite high.
You can fund transactions on some cryptocurrency exchanges using other cryptocurrencies or their stablecoins, such as Binance Coin (BNB) on Binance. The US. A lot of new investors decide to keep their cryptocurrency holdings on the exchange where they originally purchased them. Another option is to transfer your Bitcoin to a different cryptocurrency wallet, like a hardware wallet. While a Bitcoin wallet will keep your coins extra secure, it also comes with more obligations. For instance, you might not be able to access your money at all if you forget your account passwords.
Can I Lose Money if I Buy Bitcoin?
Can you lose all your money in bitcoin? You can. Cryptocurrency investing is much riskier than traditional stock market investing. The sole basis for Bitcoin’s value is speculative.
Can I Buy Bitcoin at Walmart?
Locating a Walmart with a CoinStar machine is the best option if you want to purchase Bitcoins there. You will receive payment from these coin acceptor machines in Bitcoin, but you will need a large number of coins and be willing to pay a high fee.
Conclusion
It can be very risky to invest in cryptocurrencies. As with any other technological investment, we believe that investors should approach these assets with a long-term perspective and the knowledge that there will be ups and downs. There are several platforms where you can buy bitcoin at a cheaper rate. However, we advise everyone to educate themselves on the potential risks and rewards of investing before making any decisions.
Where to Buy Bitcoin Safely in 2023 FAQs
What Are The Best Platforms to Buy Bitcoin?
- Binance
- Robinhood
- Coinbase
Can I Lose Money if I buy Bitcoin?
You can. Cryptocurrency investing is much riskier than traditional stock market investing. The sole basis for Bitcoin’s value is speculative
Can I Buy Bitcoin for $10?
Yes. The majority of BTC-selling exchanges have a $10 minimum order requirement. You eliminate the risk of making expensive mistakes by starting small. Once you are comfortable with bitcoin, you can always safely buy more.
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