How to Buy Bitcoin in 2024

Would you like to find out how to buy Bitcoin in 2024, but have no idea where to start?

Many people still don’t know about Bitcoin’s profitable potential, but think about it: just over 10 years ago, the price of Bitcoin was around $100. Today, BTC has already reached the $60,000 mark and continues to be profitable.

In this easy beginner’s guide, we’ll show you step-by-step how to buy Bitcoin for the first time. Get to know the main brokers on the market and learn how to buy Bitcoin safely!

There are over 200 such platforms out there, but if you’re just starting out, it’s best to focus on the ones that are regulated, charge low fees, and accept account minimums.

Top Brokers and Exchanges to Buy Bitcoin

1. Binance 
2. ByBit 
3. CoinEx 
4. Gate.io 
5. Kucoin
6. OKX 
7. eToro
8. Margex
9. PrimeXBT

Let’s take a closer look at how each broker works. And if you still don’t know what Bitcoin is, then you may be missing out on the race for the financial products that have appreciated the most in recent years. Keep reading and don’t miss out on this opportunity.

1 – Binance

Binance launched in 2017 and is now the largest cryptocurrency trading platform by volume. It supports over 350 cryptocurrency markets, including Bitcoin  .

The registration process takes just a few minutes, and users can upload a government-issued ID. After that, they can deposit funds using a debit/credit card or local bank transfer, with fees varying depending on the country of residence.

Typically, fees for debit/credit card payments are around 1.8-2%, while bank transfers usually have a small fee of R$9.90. 

After depositing, users can buy Bitcoin with a commission of just 0.1%, which is competitive considering investors pay just $1 for every $1,000 traded. While Binance offers low fees, it’s worth noting that it’s not the easiest platform to use.

The platform offers a variety of products and services, many of which are aimed at experienced investors, including leveraged cryptocurrencies, futures, options, and yield farming. 

In terms of security, Binance accounts feature two-factor authentication and most customer funds are held in cold storage. 

However, it is relevant to mention that Binance was the target of a hack in 2022, resulting in the theft of over $570 million.

Buy Bitcoin on Binance

2 – Bybit

Bybit is a global cryptocurrency exchange headquartered in Dubai. In the UAE, it operates as Bybit Fintech FZE, following local regulations. The company itself is Bybit Fintech Limited and is registered in the British Virgin Islands .

The most interesting thing about Bybit is its popularity as a derivatives exchange. In addition to regular trading, it offers a variety of contracts for advanced traders, allowing up to 100x leverage for some cryptocurrencies.

Ben Zhou founded Bybit in 2018. As a former forex trader, he used his experience in TradFi to solve stability and liquidity issues that Bybit faced in its early days. 

What worked for Bybit was its dual pricing approach, based on standardized global prices for asset settlement. 

Since its founding, the platform has become recognized in the cryptocurrency world, gaining a base of more than 10 million users.

 Compare Bitcoin and Bybit

3 – CoinEx

CoinEx is a reputable cryptocurrency exchange based in Hong Kong, founded by Haipo Yang, an early Bitcoin investor. It rose to prominence in 2017 and is part of the Via BTC group, which also manages the ViaBTC mining pool .

Being backed by a solid company and following local regulations, CoinEx is gradually gaining popularity. 

The exchange doesn’t just offer the usual spot trading services; it provides access to smart trading tools, support for margin trading with reasonable leverage, cryptocurrency exchange, and other features.

With over 700 cryptocurrencies available for trading, CoinEx and Afrilatest exchange offers a wide range of pairs. Among the most popular, according to data from CoinMarketCap, are BTC/USDT, ETH/USDT, SOL/USDT, STARL/USDT, and many others. The exchange also supports perpetual contracts, with BTC, SOL, ETH, and SHIB being the main assets.

On CoinEx, coins are organized into categories like GameFi, RWA, Layer 2 tokens, Top Gainers, and more, making it easy to browse and search for specific assets.

Buy Bitcoin on CoinEx

4 – Gate.io

Gate.io is one of the oldest cryptocurrency exchanges in China, operating since 2013. After being rebranded to Gate.io in 2017, it has become one of the fastest – growing cryptocurrency platforms, offering a leading platform for Initial Exchange Offerings (IEO), various cryptocurrencies, leveraged margin trading, and other advanced financial services such as lending and margin borrowing. 

Despite its powerful trading engine, the interface can seem a bit confusing and is perhaps more suited to experienced traders.

Gate.io is known as an altcoin exchange, featuring 180 different coins and nearly 400 crypto markets. However, this is not a definitive rule.

The platform is feature-rich, allowing trading in multiple crypto markets, margin trading with up to 10x leverage, borrowing and lending funds, participating in periodic investment plans, investing in IEOs through Gate.io Startup, perpetual swap contracts, and more.

In terms of fees, Gate.io offers competitive pricing. While it’s not the cheapest service on the market, there are several discounts available. The standard trading fee on the platform is 0.2% of the total order value.

The Gate.io team takes security seriously, and is ranked as one of the top exchanges for cybersecurity by CER. The platform offers users a variety of options to protect their accounts, as well as having several built-in security mechanisms.

Buy Bitcoin on Gate io

5 – Kucoin

KuCoin is a famous name in the cryptocurrency world, being recognized as a complete hub for various operations in this market. 

Launched in August 2017, the exchange has over 700 cryptocurrencies, is present in over 200 countries and stands out as one of the most comprehensive online hubs for the cryptocurrency universe. 

It offers banking-level security, a sleek, beginner-friendly interface, and a wide range of services such as margin and futures trading, an integrated P2P platform, the option to buy crypto with a credit or debit card, instant exchanges, the ability to earn crypto through lending or staking, participation in new Initial Exchange Offerings (IEOs) via KuCoin Spotlight, competitive fees, and much more!

Investors appreciate KuCoin for its tendency to list small-cap cryptocurrencies with high upside potential, a wide selection of coins including lesser-known ones, and generous profit-sharing incentives – up to 90% of trading fees are returned to the KuCoin community via its KuCoin Shares (KCS) tokens.

Currently, KuCoin is one of the leading cryptocurrency exchanges, serving over 30 million cryptocurrency investors worldwide. 

It offers an impressive array of services, such as fiat money onboarding, futures and margin trading, passive income options like staking and lending, a peer-to-peer (P2P) marketplace, an IEO launchpad for cryptocurrency crowdfunding, non-custodial trading, and more.

Buy Bitcoin on Kucoin

6 – OKX

OKEx is a feature – rich cryptocurrency exchange with low fees of just 0.1% on every buy and sell. If you stake the platform’s own OKB token or have a high-volume account, you can reduce these fees even further.

Users have the flexibility to trade Bitcoin in different markets such as spot, margin, futures, options, and perpetual swaps. 

Additionally, they can earn passively with features like staking and savings, offering high returns for some coins and a 5% annual rate for Bitcoin.

For advanced traders, OKEx has integrated TradingView charts and tools, providing access to advanced charting indicators. 

If you’re just starting out, the platform offers an extensive education center and 10 different trading bots with various strategies. Additionally, there’s the option to use a demo account before you start trading Bitcoin for real.

How to Buy Bitcoin in 2024

OKEx accepts a variety of payment methods, including credit/debit cards, bank transfers, and digital wallets such as Apple and Google Pay. 

With an initial investment of just $10, traders can start buying Bitcoin. The platform also allows users to connect their non-custodial web3 wallet to the OKX DEX and trade cryptocurrencies on 40 different networks, although not on the Bitcoin network.

Trust is key, and OKEx is trusted by over 20 million users worldwide. It is considered one of the best exchanges for trading Bitcoin and supports over 300 other cryptocurrencies.

Buy Bitcoin on OKEx

7 – eToro

eToro is an online trading company launched in 2007 by a group of entrepreneurs in the financial sector in Israel. 

It offers a wide range of asset classes, allowing users to purchase assets in a traditional manner or through Contracts for Difference (CFDs).

For traditional investments, eToro in Brazil allows you to buy stocks, the best ETFs and cryptocurrencies. In addition, it offers CFDs on stocks, indices, bonds, metals, energy, among others.

eToro stands out for its pricing structure, being one of the few platforms that does not charge commissions for buying shares, including cryptocurrencies such as Bitcoin and around 153 ETFs.

It is a reliable online investment platform aimed at beginner investors, suitable for those who want to buy stocks globally. Opening an account takes just a few minutes, and it is easy to deposit funds using a debit/credit card, e-wallet or bank account. Then, simply select the stocks you want, determine the investment amount and confirm the transaction.

Comprar Bitcoin na eToro

8 – Margex

Margex is a cryptocurrency derivatives trading platform that offers up to 100x leverage. 

Launched in 2020, it is quickly gaining trust by providing a professional trading environment, yet accessible to beginners. 

Its referral program is one of the most generous, combined with competitively low fees, making it a strong contender among derivatives trading platforms.

At Margex, you can trade derivatives of the underlying assets, potentially magnifying your profits by up to a hundred times. However, it is important to be aware that in the event of a loss, the loss can also be up to a hundred times the initial amount.

The platform offers a referral program that gives you 40% of all trading commissions generated by people you refer. Even though the initial commissions are not very high, they can become a decent source of passive income without much effort.

At Margex, there are no unfair liquidations or price manipulations, ensuring your profits are protected. 

All user funds are stored in cold wallets, meaning withdrawals are processed once a day. The platform maintains multiple layers of security that are regularly audited, providing a trustworthy environment for traders.

Buy Bitcoin on Margex

9 – PrimeXBT

The PrimeXBT trading platform is a full-fledged cryptocurrency exchange, allowing trading in cryptocurrencies, major stock indices, commodities, and foreign currencies. 

In addition to offering the option to trade with margin up to 100 times the value of your initial investment, it has a new feature called “covesting,” which allows you to view and mimic the trading moves of investors featured on the site. 

It also offers the option of “turbo” trading, allowing you to predict short-term prices to make quick double-digit profits.

It is important to note that PrimeXBT is not available in 14 countries, including the US and Canada. This restriction may influence your decision to use the platform.

PrimeXBT’s referral model has a four-tiered payout system. Rewards are earned not only from direct referrals but also from referrals from referrals, similar to a multi-level marketing plan. 

To maximize your rewards, it’s crucial to use your personalized referral link when inviting people. Encourage your referrals to also invite more people to multiply the passive income from the trading fees generated by the referral network you build.

Buy Bitcoin on PrimeXBT

Why buy Bitcoin today?

In addition to being the cryptocurrency with the largest market capitalization, there are several reasons to buy Bitcoin in 2024.

Check out the best Bitcoin strategy and see the main reasons why you might want to buy the queen cryptocurrency of this market.

Price explosion with BTC halving

It’s hard not to see Bitcoin as a great investment in 2024. Last year, the price of BTC rose by over 150% to $45,000. 

On top of all this, anticipation is growing regarding the upcoming Bitcoin halving event and what it could mean for the future price of Bitcoin.

A significant event for Bitcoin in 2024 is the so-called “halving.” Bitcoin operates on an online platform called a blockchain, where entries are validated by “miners” who use clusters of computers to solve complex mathematical puzzles. 

Miners receive bitcoins as a reward for completing a set of transactions called a block, and the protocol states that this reward is halved every 210,000 “blocks” (roughly every four years).

The reward started at 50 bitcoins in 2009 and is expected to decrease from 6.25 bitcoins to 3,125 bitcoins by mid-April 2024.

This reduction implies fewer bitcoins being made available on the market, which limits supply and can impact less efficient miners, significantly reducing the computing capacity used by the network. 

The three previous halvings have triggered dramatic increases in digital asset prices as investors take on more risk in the space.

Compre Bitcoin

Black Rock Launches New Bitcoin ETFs

The SEC has just approved a type of investment called an exchange-traded fund (ETF) for the bitcoin market. 

ETFs are investment vehicles that track underlying assets, providing an easy way for people to invest without having to directly purchase the asset. 

Until now, cryptocurrency ETFs in the US have been limited to futures markets, concerned with investors’ expectations for future cryptocurrency prices. The introduction of a spot Bitcoin ETF has brought large investors into the market and potentially involved banks more actively. 

This would allow Bitcoin to be offered by financial advisors, eliminating the need for investors to deal directly with the asset or navigate challenges like cryptocurrency exchanges and storage.

Several factors indicate that the SEC may reconsider its opposition to such an ETF. Major players such as BlackRock, the world’s largest investment house, are among the candidates. In addition, digital asset group Grayscale won a major case against the SEC in 2023, forcing the agency to reevaluate its position.

Increased regulation and mainstream adoption of BTC

Regulation can bring more security and trust to the cryptocurrency market, which can lead to greater adoption by investors and businesses. This, in turn, can increase the demand for bitcoin and, consequently, its value.

Mainstream adoption could also boost the price of bitcoin. As more people become familiar with the cryptocurrency and start using it, demand for it will increase. 

This could lead to a surge in price as investors look to buy bitcoin before it becomes even more scarce.

Furthermore, increased regulation and mainstream adoption of BTC could reduce the cryptocurrency’s volatility. This is because regulation can help stabilize the market and reduce the risk of large price fluctuations.

New applications with Bitcoin

Bitcoin is a versatile technology that can be used for a variety of purposes. As new applications are developed, the potential of bitcoin increases. This could lead to an increase in the demand for bitcoin and, consequently, its value.

Here are some examples of new applications in bitcoin that could boost the price of the cryptocurrency:

Compre Bitcoin

Use as a store of value 

Bitcoin is a decentralized form of currency that is not subject to the influence of governments or central banks. This makes it an attractive option for investors looking for a secure and stable store of value.

Use as a means of payment

Bitcoin is increasingly being accepted as a form of payment by businesses and retailers. This could lead to an increase in consumer demand for bitcoin.

Use in smart contracts

Smart contracts are digital contracts that execute automatically when certain conditions are met. Bitcoin can be used to power smart contracts, which could open up new possibilities for automating transactions and businesses.

Use in decentralized finance (DeFi)

DeFi is a blockchain-based financial ecosystem that does not rely on traditional financial institutions. Bitcoin can be used in DeFi for a variety of purposes, such as lending, investing, and insurance.

It is important to note that new applications for bitcoin are still in the works. However, there is a growing consensus that bitcoin has the potential to revolutionize the financial world.

Crypto market continues to grow in capitalization

Research released by CryptoQuant on Wednesday suggests that approval of applications for bitcoin spot price exchange-traded funds (ETFs) in the United States could propel the cryptocurrency market to a market cap of over $1 trillion.

Considering the current market cap, just over $1 trillion according to CoinGecko, ETFs could double that amount. 

According to CryptoQuant, bitcoin alone would have a new capitalization of $900 billion, compared to the current $550 billion.

CryptoQuant justifies its projections by highlighting that the first wave of cryptocurrency adoption by institutional investors began in 2020 and 2021, with the integration of bitcoin into corporate balance sheets. 

With the introduction of ETFs, a new phase of this process is expected, focused on adoption by financial institutions.

How does Bitcoin work?

Bitcoin is a decentralized digital currency, meaning it is not issued by any government or central bank. Instead, it is created and managed by a network of computers called a blockchain.

The blockchain is a shared database that records all Bitcoin transactions. Transactions are verified by a network of computers called “miners.” 

Miners use a process called proof of work to verify transactions and add new blocks to the blockchain.

The maximum amount of BTC in circulation is 21 million. This means that once all 21 million BTC have been mined, there will be no more Bitcoins created.

Bitcoin is often compared to the gold standard. This is because, like gold, Bitcoin is a scarce and durable store of value. Bitcoin is also resistant to inflation because its supply is limited.

Compare Bitcoin

Decentralization 

Decentralization is one of the main principles of Bitcoin. This means that Bitcoin is not controlled by any government or central bank. Instead, it is controlled by the network of computers that underpin it.

Decentralization offers several benefits to Bitcoin, including:

• Censorship Resistance: Bitcoin cannot be censored by any government or central bank. This is because the computer network that supports Bitcoin is distributed globally.
• Trust: Bitcoin’s decentralization helps increase trust in the currency. This is because there is no single point of failure that could compromise the network.

Protocolo proof of work

The proof of work protocol is a process used to verify Bitcoin transactions and add new blocks to the blockchain. It works by rewarding miners with new Bitcoins for solving complex mathematical puzzles.

The proof of work protocol is important to Bitcoin because it ensures that transactions are securely verified and that the blockchain is protected from changes.

Mining

Mining is the process of verifying Bitcoin transactions and adding new blocks to the blockchain. Miners use powerful computers to solve complex mathematical puzzles.

Miners are rewarded with new Bitcoins for solving the puzzles. The block reward is 6.25 BTC. 

The reward is halved every four years, meaning the supply of Bitcoins in circulation is gradually decreasing.

Maximum limit of BTC currency in circulation

The maximum amount of BTC in circulation is 21 million. This means that once all 21 million BTC have been mined, there will be no more Bitcoins created.

The maximum amount of BTC in circulation is important for the currency because it helps ensure that it is scarce and durable. Scarcity is an important characteristic of a store of value.

Store of value that mimics the gold standard 

Bitcoin is often compared to gold as a store of value. Gold is a precious metal that has been used as a store of value for centuries.

Bitcoin has some similarities to gold, including:

• Limited supply: Bitcoin has a maximum supply limit of 21 million coins, just as gold is a finite resource.
• Decentralization: Bitcoin is a decentralized currency, just like gold, it is not controlled by any government or financial institution.
• Inflation Resistance: Bitcoin is inflation resistant as its supply is limited.

However, Bitcoin also has some key differences from gold, including:

• Digital: Bitcoin is a digital currency, while gold is a physical metal.
• Volatility: The price of Bitcoin is more volatile than the price of gold.
• Unregulated: Bitcoin is not regulated by any government, while gold is regulated in many countries.

Is it safe to buy Bitcoin in 2024?

Determining whether Bitcoin is a safe investment comes down to your definition of safety. Bitcoin’s price volatility is undeniable, with significant drops in 2022, from nearly $48,000 to around $16,000.

This volatility could potentially scare away investors seeking more stable assets. However, Bitcoin’s volatile nature is evolving as it integrates into traditional financial markets, attracting participation from both individual and institutional investors.

Historically BTC has always been more volatile, but now it has become a mainstream alternative asset, correlated with large-cap technology.

If we consider Bitcoin as digital gold, similar to a commodity rather than an investment security, this adds another perspective to the security issue.

However, it is important to note that Bitcoin technology is secure, but it is not anonymous, relying on passwords. Experts warn that hackers can use web trackers and cookies to search for information that, even if Bitcoin disguises it, could lead to private data. If anonymity is essential to your idea of ​​security, Bitcoin may not be completely secure.

Furthermore, the security of your cryptocurrency is tied to the security of the crypto wallet in which it is stored. 

Losing your wallet password or allowing unauthorized access to it may result in the loss of your Bitcoins.

Compre Bitcoin

How to buy Bitcoin?

Buying Bitcoin is a very simple task, considering that as it is the largest cryptocurrency on the market, it is present in 100% of cryptocurrency exchanges and wallets.

OKEx offers several options for purchasing Bitcoin, including Google/Apple Pay and credit card, P2P trading, and third-party payment processors .

Today we will look at the steps to buy Bitcoin on OKEx, reviewing the main purchase methods:

Creating an OKX Account

• Go to the OKEx website and click “Sign Up”.
• Choose the email registration option.
• Enter your email address and follow the instructions to create a strong password.
• After registration, confirm your email address and select your country or region.

Account Verification

• To carry out activities on OKEx, you will need to go through the verification process.
• Select your nationality, enter your address, and choose an ID type for verification.
• Take a photo of your ID and a selfie. These images will be verified by a third-party provider.
• Verification usually takes a few seconds, but can take up to 24 hours to complete manually.

Buying Bitcoin on OKEx

By Credit Card:

• Go to “Buy Crypto” and select “Express Buy”.
• Enter the desired amount in your preferred currency and click “Buy”.
• Choose your payment method, check and proceed with the purchase.

P2P Trading:

• Navigate to “Buy Crypto” and select “P2P Trading”.
• Choose the seller and click “Buy”. Agreeing to the User Agreement is required.
• Complete KYC (Know Your Customer) before making any purchase.

Third Party Payment Processors:

• Explore the available suppliers and choose the one that offers the best deal.
• Please complete KYC before using the service.

Cash Deposit to Buy Bitcoin

• Fund your account with a cash deposit.
• Convert the amount to stablecoins like USDT or USDC, as OKEx does not allow direct trading pairs between BTC and fiat currencies.
• Under “Trade”, select “Buy” and choose the desired amount.

After purchasing your Bitcoin, your balance will be automatically available in your account within the exchange. Since your account balance is the responsibility of each investor, the ideal is to transfer the funds in Bitcoin or other cryptocurrencies to a wallet.

Here at Criptofácil we recommend using hardware wallets for greater security of your investments.

How to transfer cryptocurrencies from OKEx to Bitpay?

• Access your Bitpay account and click on the wallet icon. 
• Once inside the wallet, click on the Bitcoin icon and then click on the “deposit” or “receive” icon. Read the notice and click “I understand”.
• When the tab with the QR code appears, copy the address that appears at the top. Just click on the icon with two squares and it will copy automatically.

• If this is your first time, please add the new withdrawal address on OKEx. If you have already added it, please go to the next step.
• Paste your Bitpay deposit address when prompted. If you are withdrawing via mobile device, you can also scan the QR code with your wallet address.
• Follow the instructions on OKEx to complete the withdrawal. Enter the desired amount, review the details, and confirm.

That’s it! You’ve transferred your cryptocurrencies to your Bitpay wallet, granting you full access and control over your assets.

Conclusion

In conclusion, the decision to buy Bitcoin in 2024 is influenced by several factors that shape the trajectory of this unique cryptocurrency in the financial landscape. 

The imminent BTC halving, historically associated with price explosions, adds a dimension of optimism to investors, highlighting Bitcoin’s intrinsic scarcity and its potential impact on the market.

The prospect of a cryptocurrency market surpassing the $1 trillion mark, driven by the potential approval of spot price ETFs, highlights the continued growth of the sector. 

This milestone represents not only a sign of maturity, but also further validation of the enduring presence of Bitcoin and its counterparts in the global financial landscape.

While it is important to consider the risks inherent in the volatility of the cryptocurrency market, the progressive integration of Bitcoin into traditional markets, the diversification of its applications and the entry of large institutions suggest a promising outlook for investors.

 However, it is crucial to perform an individualized analysis, considering the risk profile and specific financial goals when considering the decision to buy Bitcoin in 2024.

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