In this guide we will offer a clear and concrete explanation on how and where to buy cryptocurrencies in the best way.
The soaring returns that can be made by investing in cryptocurrencies are undoubtedly a powerful stimulus. Unfortunately, what glitters is not always gold.
Earning with Bitcoin and other cryptocurrencies is possible, but there are also risks (for example, there are many scams) and you have to work smart. We are talking about a new asset, which has come to light strongly thanks to its excellent performance.
To date, numerous managers of Hedge Funds or investment banks are at the forefront of incorporating cryptocurrencies into their investment portfolios.
In this guide we will explain all these steps in detail, in order to invest in cryptocurrencies without errors and without paying commissions. We will also talk about the best safe (and easy to use) platforms perfect for investing in the world of cryptocurrencies.
How to buy cryptocurrencies?
How to buy cryptocurrencies in the best way? It will be possible to start investing in digital currencies by following these 5 steps:
- Choose a certified broker
- Invest in a secure platform
- Be careful with those who promise easy money
- Put your investment to the test with virtual capital
- Make a deposit and start buying cryptocurrencies
The first step will be to choose one of the brokers listed in the table above.
Why do we recommend online brokers and not exchanges? Simple, because the former are regulated and safe while the latter do not yet have official licenses to operate as intermediaries.
However, security is not the only inappropriate aspect. A valid alternative to buying the Token is to invest with CFD contracts.
We are talking about free financial instruments and certificates, which allow you to invest both up and down: just click Buy or Sell to activate the corresponding contract and win in any case.
Considering that cryptocurrencies are very volatile assets, the possibility of making a profit even in the event of a price drop is an excellent opportunity.
With that said, it is important to remind our readers that the world of cryptocurrencies is full of scammers who promise easy money in exchange for a small investment of money. You have to stay away from certain scams and be clear in your head that easy money does not exist .
Finally, after trying our favorite broker on a Demo account (completely free!), It will be time to make the deposit. Bank transfer, credit card or Paypal are the most used ways to buy cryptocurrencies with the best brokers.
Best platform to buy cryptocurrencies
What is the best platform in the world to buy cryptocurrencies? Undoubtedly eToro, a regulated broker that allows both to buy our favorite Tokens and to speculate on their performance with CFDs.
eToro is a great option for those who want to buy and sell cryptocurrencies and have absolutely no experience.
It is a very simple platform to use but above all it is the only one that offers the possibility of operating completely automatically.
How is it possible? eToro offers its members proprietary software, called Copy Trading , free of charge.
This new system allows you to identify the investors who have earned the most with the least risk ( Popular Investor ). These investors can be selected and copied automatically : all your transactions will be automatically replicated by the system.
Trading eToro in digital currencies (but also other traditional financial assets like stocks) allows beginners to get started right away and learn how to trade by observing in real time what the best eToro investors are doing.
Choosing eToro to buy cryptocurrencies means trusting a Broker with more than 30 tokens that can be traded on the platform and the number is constantly increasing. When a digital project proves to be interesting and profitable, it is immediately listed on eToro.
How much money do you need to buy cryptocurrencies with eToro? A minimum deposit of 50 euros is enough to start investing in Tokens, without fixed costs and with total security.
In short, eToro is the best platform to buy cryptocurrencies, since it offers the best options to do so in advantageous and accessible conditions:
Where to buy cryptocurrencies?
To discover where to buy cryptocurrencies, in this section we are going to list safe, reliable and honest platforms, since they operate in compliance with European legislation that defends savers’ money.
They are authorized and regulated platforms because they have requested and obtained a legal European license before starting to operate and are subject to continuous supervision by the competent authorities ( CNMV for Spain).
In this section we include platforms that allow you to buy cryptocurrencies without commissions and with CFD contracts. As we have anticipated, thanks to the strong volatility of this asset, it is opportune to talk in detail about this solution (CFDs) to take advantage of all market scenarios.
Buying cryptocurrencies with one of these platforms is equivalent to buying cryptocurrencies at the bank: investors’ accounts are guaranteed.
In addition, these platforms have the following advantages:
- They do not charge fixed fees
- Easy to use even for beginners
Next, we show you the detailed review of some of the best cryptocurrency platforms in Spain.
Most beginners who start buying cryptocurrencies do so with LiquidityX .
It is a really simple and intuitive platform to use, even for those who still don’t know anything about investing or Bitcoin.
Why is LiquidityX so easy to use? First of all, the interface is really professional and intuitive to use: we are talking about a Metatrader 4.
All investors have the right to access very comprehensive courses and video tutorials.
Those who want to learn more have the opportunity to download an excellent eBook for free that explains in detail how you earn by investing in cryptocurrencies and all other traditional financial assets.
This eBook has been a major success and thousands of Spaniards have downloaded it .
In fact, it is very easy to read and is very practice-oriented, that is, it explains in detail how to make money with Bitcoin and other cryptocurrencies. And then it’s free, which isn’t bad since a lot of other investment guides are paid for (some even cost a lot).
The advantages of LiquidityX do not end there: it is a completely free broker and allows you to operate without costs or commissions. Finally, it is also possible to operate in demo mode (with virtual capital) to be able to carry out tests and experiments without risk before starting to operate.
Why choose Plus500 to invest in cryptocurrencies in CFDs?
For various reasons, first of all because of the reliability and security that the broker transmits: it is one of the first trading platforms landed in Spain.
Its Webtrader platform is very intuitive, designed by professional traders to make other traders, perhaps beginners , work in the best way.
The cryptocurrency spread is among the lowest in the market and there are no fixed fees, which makes it even more profitable to invest in Bitcoin and co.
Added to all this is a very low minimum deposit that can be activated with just € 100 , a free Demo account and a wide range of cryptocurrencies to trade. In short, Plus500 puts the trader in the best conditions to trade digital assets.
Here is the link to register:
XTB is an investment platform used by many beginners who want to start buying cryptocurrencies.
The reason is simple: in addition to being really intuitive, it is the only platform that allows you to start with an initial capital of only 10 euros . The others usually require an initial investment of between 100 and 250 euros (which is still a small investment).
In the case of XTB, it is possible to start with a really small investment : this means that really everyone can start, even those who do not have a lot of capital available. The risk of loss is very limited.
In addition, members have the opportunity to access a very rich educational area that offers video courses that explain in detail how to invest in cryptocurrencies and other financial securities.
XTB offers a free demo account , unlimited and unrestricted , perfect for those who wish to do some simulations before you start trading with real money.
Buy cryptocurrencies with exchanges
One of the most popular ways to buy cryptocurrencies is through exchanges .
These sites offer the ability to buy cryptocurrencies for dollars (rarely for euros) but sadly, they are often the subject of controversy. Take the first big scam , for example , that of the MtGox exchange , dating back to 2014.
Very often exchanges close without warning, making all cryptocurrencies disappear, with the consequence that clients lose money irreversibly.
Stranger still was the fate of those who had decided to invest in cryptocurrencies using Quadriga Exchange : access to the system was lost with the death of the founder, the only one who knew the password. Up to 140 million Bitcoins (and other cryptocurrencies) have been lost forever .
Below is a table that clearly shows why it is preferable to buy cryptocurrencies with the best regulated platforms rather than Exchanges:
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There are also serious cryptocurrency exchanges (or at least they have not caused problems so far): the truth is that, in any case, they operate outside of any norm and therefore there is never an absolute guarantee of not being scammed.
Among the most popular exchanges we find Binance, Coinbase or Kraken. Unfortunately, throughout their history, they have often proven to be downright unreliable.
Buy cryptocurrencies at the Bank
The large number of cryptocurrency-related scams has led many potential investors to wonder if it is possible to buy cryptocurrencies at the bank .
Let’s say right away that it is not possible to buy cryptocurrencies at the bank, simply because the institutes are not equipped to buy and sell digital currencies.
However, we can say with certainty that the purchase operations carried out on the platforms mentioned in this article have the same level of security as banks. The European license is a guarantee from this point of view.
By the way, we want to remember that cryptocurrencies were born precisely to fight against the financial monopoly of banks and, therefore, they are not very popular in the banking world.
Only Ripple , of all cryptocurrencies, was born with the support of some large financial institutions because its goal is to make international financial transactions faster and cheaper.
Buy cryptocurrencies anonymously
In this case we have to talk about a real paradox: cryptocurrencies were born with the aim of guaranteeing maximum privacy to their users, through operations carried out on the Blockchain and disconnected from the traditional banking system.
Unfortunately, this aspect gave way to a series of websites (quickly closed!) That allowed to buy drugs, weapons and everything that was illegal directly through Bitcoin and other cryptocurrencies.
All this has raised a scandal, with the cyber police taking steps to shut down these sites and with public opinion divided on one issue: is it legitimate to pay in total anonymity through cryptocurrencies?
To date, the debate is ongoing, in any case the results that have been achieved are basically two:
- Buying illegal goods anonymously involves serious problems with the law.
- Cryptocurrencies based on 100% anonymity (like Monero) are disappearing
Ultimately, it is better to invest in cryptocurrencies with authorized Brokers , in this way, you will be protected from problems with the law!
How to buy cryptocurrencies without scams
Those who bought Bitcoin in 2014 or 2015 and then resold at the highest price in 2017 have made substantial profits. Bitcoin has probably been the financial asset that the most millionaires have created throughout history.
Unfortunately, not everyone who bought cryptocurrencies got rich, in fact, many were scammed.
A very common type of scam linked to cryptocurrencies is that of the systems to make easy money: these are schemes that promise a very fast profit for an initial investment.
Unfortunately, these systems never work and whoever falls into the trap loses all the money invested. An example of this type of system is Bitcoin Trader.
In any case, the operation is almost always identical . There is:
- Easy money promise
- Algorithm that invests in BTC with 100% success
- Payment of € 250 to enter the system
- Money that ends up lost
Whenever we find a pattern similar to the one we just defined, it is sure to be a scam! There are no miracle algorithms or automated systems that can effortlessly generate profits.
The only true (certified!) Method to invest automatically is eToro Copy Trading , which has been active for many years and guaranteed by CySEC.
So what should those who want to buy cryptocurrency do without the risk of being stolen? Simple:
- Don’t believe in fairy tales because easy money doesn’t exist
- Use only authorized and regulated platforms
- Commit yourself and always study the subject
What cryptocurrencies to buy?
After choosing the platform, it is time to evaluate which Tokens deserve our attention.
What cryptocurrencies to buy? To date, the most requested tokens are the following:
- Bitcoin : for its great fame and popularity around the world
- Ethereum : thanks to the developments of its blockchain
- Cardano : for proven ability in the field of smart contracts
- UniSwap : considered one of the best NFT tokens in the world
- Compound : thanks to advances in digital loans
There are only 5 Tokens, but we have many others that offer excellent opportunities to invest profitably in both the short and long term.
The selection of the best cryptocurrencies to invest is made every week by eToro specialists, a team of experts who analyze the market and when evaluating really interesting projects, insert the Token into the platform.
This means that it will be enough to look at the cryptocurrencies listed on eToro to immediately discover which are the most interesting digital projects .
App to buy cryptocurrencies
Many investors wonder if it is also possible to trade digital currencies through our smartphone.
What are the best cryptocurrency apps? The answer is simple: all the mentioned platforms, like eToro, have an App version to trade digital currencies safely.
If we take a look at the Play Store we see that the App with the most positive reviews is precisely that of eToro. Then we came across LiquidityX, much appreciated and with many positive comments. Thirdly, Markets, for the possibility of buying cryptocurrencies or trading them in CFDs.
In all the cases listed, the purchase of cryptocurrencies through the App will have the same level of security and professionalism as the Computer.
The trading platform is the same, only in the smartphone version. There will be the same indicators and the same features that brokers offer, such as Copy Trading or investment signals.
When to buy cryptocurrencies?
Is there a perfect time to buy cryptocurrencies? We would like it to be that easy!
To choose when to buy cryptocurrencies, you need to analyze the market , study the charts, and use trend indicators. A minimum of experience is required to carefully choose the right time to invest.
In light of what cryptocurrencies have done in recent years, we can establish some market situations with which it is not convenient to invest in cryptocurrencies:
- At the end of a strong uptrend: there are usually phases of sharp decline in prices
- In times of economic crisis: how it happened in 2020 with the coronavirus pandemic
Buy cryptocurrencies with Paypal
How and where to buy cryptocurrencies on Paypal? The available options are mainly 3, let’s see it in detail.
With this Broker we can activate an account with PayPal, the balance will end up in our investment account through which to buy cryptocurrencies.
Likewise, when we sell a token we will receive the amount in the account. It will be up to us to choose whether to reuse it for new investments or transfer it to our paypal.
This exchange has become popular for offering the possibility of buying cryptocurrencies with Paypal. Just complete the registration and link our account.
Unlike eToro, every time we want to buy a Token we have to select the amount to carry out the transaction. A fixed commission will be applied to each operation.
Binance is also an exchange that has always allowed cryptocurrencies to be exchanged with Paypal.
The problem with this intermediary is that it is having problems with the regulatory authority: in Italy it has been crossed out and it is expected that other European countries will also exclude Binance from the market.
Tutorial on how to buy cryptocurrencies in Spain
Do we want to know how to buy cryptocurrencies safely directly from Spain? Here is a well done tutorial that explains step by step how to make our investment:
Buying cryptocurrencies is an excellent investment but it must be taken into account that there can also be dangerous scams .
Therefore, it is advisable to operate exclusively with authorized and regulated platforms that are safe, described in the course of the article. Also, it is always advisable to remember that cryptocurrencies, like any other financial security, cannot always go up.
Therefore, those who decide to invest in cryptocurrencies must choose the best option between buying and selling, depending on market conditions.
To do this, we have reviewed the best CFD brokers , which allow you to trade both up and down, professionally and without risk (EU guarantee). These brokers are preferred over exchanges for this type of investment.
To start buying cryptocurrencies, you just have to register for free in one or more brokers, try the platform in Demo (with virtual money) and without restrictions.
Once we find the best solution, appropriate to our characteristics, it will be possible to make the minimum deposit through the methods indicated in our guide.