We have previously compiled the best ways to buy Bitcoin in 2024 without KYC, taking into account several criteria such as convenience, security, and more.
Now we will focus on one criterion that may be the most key for many, namely the best and cheapest way to buy Bitcoin.
We should note that there are several such ways, but they depend on the conditions of specific exchanges and platforms, which can change over time.
Let’s consider the most relevant of them at the time of 2024.
Cheapest Way to Buy Bitcoin on Coinbase and Other Crypto Exchanges
First, let’s look at the cheapest way to buy and send Bitcoin using the most familiar and convenient way for crypto transactions, namely crypto exchanges.
It is important to note that, like any intermediary, they retain an additional commission on each transaction, but these can vary greatly from one crypto exchange to another.
Also, even within the same crypto exchange, conditions can change over time, so always be aware of any updates to your chosen platform.
Coinbase
One of the leading, most popular, and respected crypto exchanges providing a wide range of functionality for buying and selling multiple cryptocurrencies.
It is often chosen because it leads to a lot of developments important for the whole Web3, as well as great efforts to comply with strong security measures and strict global regulators.
Even though it is a platform with higher fees than some others, Coinbase offers very favorable terms as trading volume grows, which can end up as low as 0%.
So, with a high enough turnover, you are buying Bitcoin for its net value, while doing so on one of the most respected and secure platforms in the entire crypto industry, which is a good deal.
| Amount Traded | Taker Fee | Maker Fee |
| Less than $10,000 | 0.60% | 0.40% |
| $10,000-$50,000 | 0.40% | 0.25% |
| $50,000-$100,000 | 0.25% | 0.15% |
| $100,000-$1,000,000 | 0.20% | 0.10% |
| $1,000,000-$15,000,000 | 0.18% | 0.08% |
| $15,000,000-$75,000,000 | 0.16% | 0.06% |
| $75,000,000-$250,000,000 | 0.12% | 0.03% |
| $250,000,000-$400,000,000 | 0.08% | 0.00% |
| Over $400,000,000 | 0.05% | 0.00% |
Kraken
Another one of the oldest and most respected crypto exchanges, but with more favorable conditions for experienced traders, even if they don’t want to buy hundreds of thousands of dollars worth of Bitcoin.
It’s known for being available in over 190 countries, has very broad functionality, and has a large number of available assets, some of which you may not find on more popular top exchanges like Binance and Coinbase.
Here you can find nicer fees for not as large Bitcoin purchases, but still be sure you’re using one of the best crypto exchanges in the crypto industry.
| 30-Day Trading Volume | Taker Fee | Maker Fee |
| $0-$50,000 | 0.26% | 0.16% |
| $50,001-$100,000 | 0.24% | 0.14% |
| $100,001-$250,000 | 0.22% | 0.12% |
| $250,001-$500,000 | 0.20% | 0.10% |
| $500,001-$1,000,000 | 0.18% | 0.08% |
| $1,000,001-$2,500,000 | 0.16% | 0.06% |
| $2,500,001-$5,000,000 | 0.14% | 0.04% |
| $5,000,001-$10,000,000 | 0.12% | 0.02% |
| $10,000,000+ | 0.10% | 0.00% |
ByBit
This platform is relatively new, but has quickly become one of the leading crypto exchanges in the crypto industry due to its extensive functionality with advanced derivatives, but is still welcoming to both beginners and professionals.
ByBit is also loved for its many great copy trading features, staking pools, and an entire section of Web3 features, promos, and awards, which you can read more about in our review.
It can be the cheapest way to buy Bitcoin, depending on a very detailed tier system, reducing the steps between different fees.
MEXC
Another relatively new platform that has also quickly gained popularity by combining a lot of fresh functionality, but in this case also offering some of the lowest fees.
Unlike its competitors, MEXC relied on low fees and optional KYC up to a certain level, making it much easier for newcomers to enter and allowing cheap Bitcoin purchases for beginners.
Specifically, MEXC has made 0% Maker & Taker Spot Fees and Maker 0.000% Taker 0.010% Futures Fees, while having specific, still small fees individualized for each type of asset.
Cheapest Way to Buy Bitcoin on P2P Crypto Platforms
Besides the most well-known, convenient, and cheapest way to buy Bitcoin on crypto exchanges, there are p2p platforms to buy crypto.
Yes, you can find p2p crypto trading on almost every crypto exchange, but individual p2p platforms can privately be much easier to use and sometimes have lower fees.
Hodl Hodl
One of the oldest p2p platforms for buying cryptocurrency and bitcoin in particular, and yet it is still very popular and growing.
It has many available blockchain networks and crypto assets, but it can be one of the most convenient and cheapest ways to buy Bitcoin if you prefer p2p platforms.
The platform charges fees of 0.95% of the transaction amount, split between 0.5% from the seller + 0.45% from the buyer.
RoboSats
It is newer, more advanced, and with more focus on security and private p2p trading for direct buying and selling of cryptocurrencies.
It is under active development and uses advanced technologies to achieve anonymous trading and excellent performance in transactions.
It can also be the cheapest way to buy and send Bitcoin if you need anonymity, efficiency, and no unnecessary intermediaries.
The service itself charges a 0.2% fee of the total trade amount; this fee is distributed between the order maker and the order taker, who pay 0.025% and 0.175%, respectively.
Cheapest Way to Buy Bitcoin on Cold Storage
Speaking of the cheapest way to buy bitcoin on cold storage, you don’t have many options, as everything here comes down to which cold wallets provide similar functionality.
Sure, you can connect a hot wallet to a cold wallet, and when you buy Bitcoin on the hot one, you can immediately transfer it to the cold one. However, the best option for buying Bitcoin immediately to the cold wallet would be some Ledger models.
Ledger
This is one of the most well-known cold wallets. For many it has become synonymous with this type of cryptocurrency storage.
It allows you to store your cryptocurrencies as safely as possible but also has built-in price aggregator, trading, and staking features with support for most blockchain networks like Bitcoin, Ethereum, Solana, etc., and 1500+ crypto assets.
It may not be the most convenient but one of the cheapest ways to buy Bitcoin without excessive interaction with platforms and services.
Also, it has integration with the most popular hot wallets like Trust Wallet and Exodus if you want to combine maximum convenience and security.
Conclusion
So, now you know that the answer to the question of what is the cheapest way to buy Bitcoin is not the only one, and it largely depends on your preferences, as well as the current conditions of certain platforms.
And yet, you have a choice between familiar crypto exchanges that offer the most favorable deals and excellent support, p2p platforms for direct and anonymous trading, as well as a combination of hot and cold wallets, or only cold wallets with additional functionality.
Nevertheless, before choosing any solution, read the current terms and conditions‌, as platforms may change them from time to time and manufacturers may add new features.
