Investors are right to ask where they can buy Bitcoin as free of charge as possible.
This is because bitcoin is still a popular investment that is not available everywhere without fees.
In this article we explain if and how it is possible to buy Bitcoin without fees.
Buy Bitcoin without Fees? The Most Important Facts in Brief
- Is it possible to trade Bitcoin without fees? A Bitcoin transaction automatically incurs a network fee. This arises even if you send a friend or acquaintance BTC at the actual zero price. Thus, it is not possible to trade Bitcoin entirely without fees.
- Can I sell Bitcoin without any fees? Theoretically, you can sell your Bitcoin without any fees. This works if the buyer pays for the network fees. However, if you use brokers or profit-oriented platforms on the internet, you will always have to pay the network fee. Depending on the marketplace or exchange, there are different regulations and distribution, which one should investigate before registering with a platform.
- Where can I buy bitcoin cheaply? We recommend the online broker eToro, which has cryptocurrencies in its repertoire in addition to shares and forex securities. In the meantime, you can choose between real tokens and leveraged CFD positions. Such leverage is associated with an increased risk, but you can move a higher amount with comparatively little capital expenditure, which can theoretically bring higher returns.
Where is the Cheapest Place to Buy Bitcoins? Can I Buy Bitcoin for Free?
Providers who want to tell us that Bitcoin purchases are completely free of charge are hiding something. Because at some point you always have to reckon with the network fee – which means that it is not possible to do it completely without fees.
So it’s more about choosing the best, cheapest and safest provider. On the one hand, to avoid being ripped off and, on the other, to benefit from low fees and a reputable platform. Here is a comparison of providers with low fees when buying Bitcoin:
In this case, we opted for our test winner eToro. On the multi-asset platform there are not only bitcoins, as you notice quite quickly, but also well-known and popular stocks, derivatives on commodities, foreign exchange, ETFs and indices.
So anyone who wants to look around on the investment carpet in addition to the “buy bitcoin without fees” project is certainly in the right place with such a broad-based provider.
It is practical that customers have been able to trade here with the web trader since 2009 and that applications for mobile devices have also been part of the offer since 2011. This is ideal for buying cryptocurrencies on the move.
But back to bitcoin. To buy some Bitcoins or Bitcoin fragments on eToro, you first need to open an eToro account. Let’s take a look at how that works.
Buy Bitcoin (almost) without Fees: Guide to Buying Bitcoin with Lowest Fees at eToro:
Is it Possible to Buy Bitcoin without Fees?
Bitcoin is anything but a rock-solid investment. Nevertheless, this digital currency exerts an incredible fascination on many investors. And rightly so, because the technology behind the cryptocurrency is anything but boring.
Furthermore, it is now also possible to use the coins to pay in a wide variety of shops and on a wide variety of platforms. Pay for your coffee at Starbucks on the way to work in the morning with Bitcoins? No problem!
Or rather the hotel on the way to the Maldives via a tourism portal? That’s no longer a problem either!
Beware of Unknown Providers
So everyone is talking about Bitcoin and yet many prospective investors don’t know where to start investing. We now take a practical look at how you can buy Bitcoin without fees in a very sophisticated way.
If you start a search engine and dig through the articles on the web, it almost seems as if you can buy the sought-after cryptocurrencies without fees on any corner. But it’s not quite that simple when you take a closer look at these offers.
Many freeloaders want to take the purchasing power of curious investors, but offer no value in return. Accordingly, one should be careful not to put one’s foot in one’s mouth and choose a dubious provider.
There is a good chance that it will clearly say “Buy Bitcoin without fees”, but in reality it will say “You will never see the value of your deposit again”. There are many providers out there who do not have the best interests of investors in mind.
In most cases, they lure you with record-breaking deposit bonuses and more. So let’s first take a look at what distinguishes a reputable provider from a not-so-reputable operator!
Bitcoin Trading without Fees Possible?
Our readers already know that there is a difference between buying and trading. So the question is quite justified whether you can at least trade Bitcoin without fees?
But here, too, you have to face reality. Since trading platforms also want to make profits, free offers would hardly make sense. It may be possible to find special promotions with some providers. However, these are then logically very limited and are only intended to attract new customers.
Once again, it is important to emphasise that it is best to stay away from unregulated offers. Even if you get the promise that you can trade Bitcoin without fees, there is no security and in the worst case you can lose your euro investment without ever having received BTC.
Sell Bitcoin without Fees
We don’t want to disappoint you again. And so we say: Yes, you can sell bitcoin without fees. However, this is hardly possible in an official way without a trustworthy contact.
Provided the buyer agrees to pay the network fee, you can sell him your own Bitcoins. However, there is one special feature to note. The network fee is automatically deducted when the tokens are sent.
This must then simply be refunded by the buyer. In the best case, one then receives the money privately or by free transfer. PayPal also offers free transactions among friends and acquaintances.
However, this method is the only serious way to sell Bitcoin without fees.
Learning to Differentiate Between Serious and Dubious Offers – Why Only Buying with Few Fees is Possible:
In our big online broker comparison, you will find some tips and tricks for choosing reputable providers. With these platforms, you can be sure that there is no scam or fraud behind it, but rather a conscientious team of crypto-loving professionals.
If you want to look elsewhere, there are a few factors to consider. For one thing, not all that glitters is gold – this also applies to the cryptoverseum. Even if a platform appears to be very stylish, you should not let yourself be deprived of in-depth research.
First of all, take a closer look at the imprint of the website. If there is no imprint or only a very poor imprint, stay away!
After all, there are certain laws that oblige you to have a detailed imprint. Those who do not comply with these laws and prefer to remain unrecognised may have something to hide.
Ask Customer Support
Furthermore, it is important to find a customer support: Is there a way to get in touch with customer service? After all, when investing in cryptocurrencies, there may be questions that can be better answered by contacting a professional.
Furthermore, the platform should offer all interesting and necessary information so that even inexperienced investors feel well advised.
Especially when it comes to the topic of buying Bitcoin without fees, the advertising promises are almost unbelievably exuberant. Mostly, however, it is only about persuading naive investors to make an investment, which then often ends up in the pockets of the providers themselves.
Seriousness is therefore the be-all and end-all when buying crypto. After looking through many, many offers, it becomes clear at some point that it will probably not be possible to buy coins without fees.
Buy Bitcoin for free? Or Buy Bitcoin with the Lowest Possible Fees?
If you now look around on the various reputable platforms, you will come across fee tables everywhere. We will now take a look at what fees can be incurred when buying cryptocurrencies.
Bitcoin Transaction without Fee (why it is not possible)
We’ll go into a little more detail in a moment, but for those in a hurry, here’s a quick summary of why a Bitcoin transaction without a fee is not possible.
- First and foremost are the regular costs that occur when using a trading platform. The providers have to finance themselves and thus charge a fee for their service.
- The fact that a Bitcoin transaction is not possible without a fee is also due to the network fees that occur. They are actually a technological tool to confirm the transactions in the blockchain.
- One can still make the other connection. Bitcoin miners use sometimes enormous electricity costs to create new BTC tokens and keep the network alive. So in a way, it is the natural cycle that somehow feeds the miners’ costs back into the network.
On the one hand, there are the marketplace fees and the network fees. These can be more or less with the different providers.
However, this also depends on the nature of the platform itself. Do you buy directly on a cryptocurrency exchange or is it more about P2P trading?
The Marketplace Fees when Buying Bitcoins
Especially on P2P platforms, marketplace fees usually arise. These marketplace fees are usually set by the operators themselves. If a purchase/sale is concluded, the buyer and seller usually share these marketplace fees.
However, there are rarely any nasty surprises here with reputable providers, because these fees are already shown in advance on recommendable platforms.
The Network Fees when Buying Bitcoins
The network fees are incurred when you want to transfer the coins. However, network fees are charged per withdrawal. Since the network fees can change from time to time, you should always find out exactly what costs you will incur before making a transfer.
The network fees are not paid to the platform itself, but always to the miner who processes the transaction and puts a corresponding new block on the blockchain. Now it is also clear why buying Bitcoins without fees is actually not possible.
Even if the platform itself does not charge any fees for the purchase, the transfer of the coins is always associated with costs based on the network behind it.
The network fees are an interesting part of the investment in the cryptocurrencies. This is because the Bitcoin transactions must include the network/transaction fees.
After all, the miners who make the transactions possible in the first place must also be paid accordingly for their efforts. However, there are price differences when it comes to transactions.
The higher the fees, the faster the transaction. There are some wallets where the amount of the network fees and thus the transaction speed can be adjusted manually.
Two Reasons Why it is not Possible without Network Fees
Of course, the transfer of bitcoins without network fees would somehow be more attractive. Not for the miners, but for us as Hodler. However, there are two good reasons why it simply doesn’t work without network fees – which, by the way, are not even that high, even if they are subject to fluctuations.
The first reason is simply the allowance for the miners. We have now discussed this area sufficiently. But why do the miners actually want to see a small contribution to costs?
Because they have expenses while enabling us crypto lovers to transfer the sought-after cryptocurrencies securely. For one thing, there are the electricity costs they have to run the computers.
But on the other hand, there are also very basic costs for the technical equipment itself. Furthermore, mining has to be worthwhile in some way, after all, it is also a time-consuming task.
But we know another reason why the network charges are necessary: It is the overload protection. Actually, the computational effort for the miners to transfer the Bitcoins is rather low.
Especially if the amounts involved are smaller. So it would not be inconceivable that miners who are not positive-minded could get involved and overload the entire system. That should not happen, of course. And that is exactly what the network fee prevents.
A Suitable Bitcoin Wallet with Few Fees
Are you looking for a Bitcoin wallet with low fees? We recommend eToro, because here the services of a regular online broker are mixed with those of a crypto service provider. The crypto wallet is free to sign up for and can be controlled via an app.
Nevertheless, we recommend taking a look at our large Bitcoin wallet comparison, as a range of digital wallets is presented here. You are sure to find a suitable Bitcoin wallet with low fees.
Bitcoin Kaufen Kosten: Wie hoch sind die Gebühren beim Krypto Kauf? Are there Bitcoin Exchanges without Fees?
We have learned that buying Bitcoin without fees is almost impossible. Let’s take the following example to compare the fees when buying Bitcoin:
- Nous achetons des bitcoins pour 1.000€.
- Nous gardons nos bitcoins pendant 30 jours, puis nous les revendons.
- Nous supposons que le taux ne change pas dans les 30 jours.
Voici comment les frais suivants s’accumulent chez eToro, Coinbase, Libertex et Plus500 :
|Frais de participation||gratuit||gratuit||0,05%*||gratuit|
|Frais de vente||0,75%||1,49%||3,08%*||0,41%|
|Payout||5 USD||0.15 USD||1,9%||gratuit|
|Total of the frais||19,20€||68,24€||92,32€||8,20€|
Conclusion: Buying Bitcoin without Fees not Possible
We would like to point out that buying Bitcoins without any fees is usually not possible. If a provider promises otherwise, you should exercise the utmost caution. Because there are some providers out there who are not very serious.
Accordingly, you should always turn to a reputable, recommendable and already extensively tested operator when planning to buy Bitcoins (we recommend our test winner eToro).
There, the purchase of Bitcoins is usually associated with small fees, but these should be manageable.
We chose the eToro platform for our investment in the oldest cryptocurrency. On the one hand, because many customers are already extremely satisfied with eToro’s service and, on the other hand, because there are no fees for buying bitcoins here.
The fees that investors have to expect either way are the network fees. These are not charged by eToro, but by the network behind the digital currency itself. However, costs are only incurred when the coins are transferred.
The fees then go to the miner who makes the transfer possible in the first place by putting a new block on the blockchain. So we summarise: Buying Bitcoins without fees is not really possible.
What is possible, however, is to choose a safe and trustworthy, as well as cheap, provider to make the most of your crypto investment adventure.
Buy Bitcoin without Fees FAQs:
- Can you buy Bitcoin without any fees?
Buying Bitcoin without fees is only possible on dubious P2P platforms. We therefore advise against trying to buy Bitcoin without fees.
- Which provider has the lowest Bitcoin fees?
We recommend our test winner eToro, which has particularly low fees.
- Why is Buying Bitcoin without Fees not Possible?
At the latest when transferring via the Lightning Network, a fee is charged on the purchase, as the entire blockchain is built on the mining fees.
- Can I Buy Bitcoin for free on My Wallet?
Yes, once you have bought Bitcoin e.g. at eToro, you can transfer Bitcoin to the integrated eToro Wallet for free.