During this decade, Bitcoin (BTC) went from an unknown asset to one of the most popular ones ever. This happened because BTC is one of the most innovative investments that you can make.
Not only it’s decentralized, but it has some of the lowest fees in the market.
How to buy BTC without fees?
The key to paying the lowest cost in a Bitcoin exchange is to research well for the companies that have an honest approach with clients.
Some companies charge an abusive rate and effectively act as a middleman that may get profits off your trades. These are the ones that you should ignore.
Fortunately, most crypto exchanges do not necessarily follow this path. They support the decentralized nature of cryptocurrencies and don’t want to profit unfairly from their clients. Visit Bitcoinsportalen to compare crypto exchanges in Sweden and the Nordics.
If you want to buy BTC without fee, find a Bitcoin exchange with the lowest fees.
Bitcoin Exchange With Lowest Fees
The first step when you look for a BTC exchange with the lowest cost is to decide whether you want to deal with a centralized or decentralized exchange.
In both cases, you can find several companies offering excellent fees.
Either case has its advantages that may go beyond the lowest cost BTC exchange. Now, let’s compare the two cases.
Centralized Lowest Fee Bitcoin Exchange
Centralized crypto exchanges like Kraken or Binance generally let people buy BTC using fiat currency (national currencies). Some of them have the BTC exchange lowest cost, but they are usually more expensive to use than decentralized alternatives unless you do your research very well.
So, what is the main advantage of using a centralized exchange like Coinbase, Kraken, or eToro?
You can acquire BTC without using any other cryptocurrency.
Also, most of these companies are licensed. They are acknowledged by the regulators and have measures to protect clients.
The main benefit is that you get security and trust.
The platforms are generally very easy to use. So, there’s no need to worry about that. Fortunately, you can find a BTC exchange with the lowest fees if you look well.
Decentralized Lowest Fee Bitcoin Exchange
Can you get the lowest fee in a BTC exchange if you cut the middlemen?
Possibly, yes, and that’s why decentralized exchanges exist.
Imagine a crypto exchange that, unlike these highly regulated centralized exchanges, just lets people trade in a peer to peer (P2P) environment. Even mostly centralized companies such as Binance have started their own options such as Binance DEX.
The drawback of this option is that you already need at least some other crypto to buy BTC.
Yes, it has the lowest cost, but it would be stretch to say that this option is great for beginners.
Bitcoin Wallets Without Fees
Unfortunately, finding the Bitcoin exchanges with the lowest fees is not enough.
If you want to buy BTC with the lowest cost, you may also need to find the perfect wallet. It means that a low fee BTC exchange needs to be complemented with a wallet to be more effective.
Most BTC wallets have cost for each transaction. Sometimes, they are big, while at other times they are small.
Some examples of great wallets are:
- Blockchain Wallet
- Bitcoin Core wallet
By using a BTC wallet without fees, it will not be hard to find the lowest cost to buy Bitcoin.
Obviously, transaction cost cannot be completely eliminated.
Even if you find the lowest BTC fees, you will still have to pay the miners for mining your Bitcoins. They are the people who solve complex equations using their computing power to secure transactions.
When the network is very clogged, you may find it harder to get the lowest cost to buy Bitcoin. Because of this, avoiding transactions when the prices are higher is also a good call.
The Combination that will let you Buy Bitcoin Lowest Fees
If you want to buy BTC with no cost, the secret is to combine a great wallet and a trustworthy exchange. While it may not seem like much at first, you should know that cost can have a massive difference in your profits.
Especially when you are a trader, and you’re trying to sell BTC when it’s high and buy when it’s low, you should notice that if you buy BTC no fees, you will profit a lot more.
Being prepared is the secret to being a successful trader.
Combine a cheap wallet with a decentralized Bitcoin exchange.
Coinbase does not offer free BTC trading. However, they do have some of the lowest Bitcoin costs on the market.
You can use a decentralized BTC exchange. Keep in mind though that you will pay the blockchain transaction fee to the miners. Also, you will not be able to sell Bitcoin for cash, only for other cryptocurrencies.