Buying Bitcoin is a quick and easy process, but it can get expensive if you pay high fees or use a bank transfer. This article will show you how to buy Bitcoin without paying any fees.
The coinbase is a website that allows users to buy bitcoin easily without fees. It also offers a wallet service and has been around for quite some time.
Is it true that you may purchase Bitcoin without paying any fees?
As we all know, there is no such thing as a free lunch, and bitcoin exchanges earn money by charging fees.
They’re designed to profit from commissions at every stage of the user’s journey.
But hold on! I thought the whole point of the Bitcoin revolution was to take out the middlemen.
Why do people still want to trade on exchanges with hefty fees if we can cut out the middleman?
Currently, cryptocurrency exchanges are the venues where the most Bitcoin transactions take place.
A centralized cryptocurrency exchange serves as a middleman, facilitating transactions between Bitcoin buyers and sellers. When you purchase and sell cryptos, you’ll be charged transaction fees, trading fees, withdrawal fees, deposit fees, and escrow costs in return for their services.
While nearly all exchanges charge fees for doing business on their platforms, it is feasible to locate a site to purchase bitcoins without paying a commission to a middleman.
By cutting out the intermediary, expenses may be drastically reduced (if not completely eliminated). Even a modest fee reduction may have a significant effect on your anticipated profits, particularly if you intend to become a successful day trader.
As part of our series on how to purchase Bitcoin, we’ll teach you how to buy Bitcoin without paying any fees (any country).
If you’re new to cryptocurrencies, you may want to look at the following options for purchasing Bitcoin:
Don’t lose heart if you’re not ready to start investing (with your hard-earned money) just yet. Even if you have extra time, you can still earn free Bitcoin. Take a look at this later…
Furthermore, you may buy USDN stablecoin on Waves.Swap, which is tied to USD in a 1 to 1 ratio, with no fee, and then exchange it for BTC. These two simple methods equate to purchasing Bitcoins on crypto exchanges without paying any fees.
No-Fee Bitcoin Purchases
As the cryptocurrency exchange industry matures, more and more crypto exchanges are lowering their fees in an effort to attract new customers. With being stated, there are just a few exchanges that enable you to purchase Bitcoin for free!
LocalBitcoins, the world’s largest peer-to-peer bitcoin marketplace, is one of the best examples.
Localbitcoins is a safe and secure way to purchase and sell Bitcoin with individuals in 249+ countries using a variety of payment options such as PayPal, Gift Cards, Wire Transfer, Cash, and Prepaid Cards.
It is completely peer-to-peer, making it a more cost-effective and efficient method to purchase Bitcoin without the need of a trusted third party.
There is no middleman to assist you purchase Bitcoin, unlike a conventional Bitcoin exchange. As a result, there is no set market price for LocalBitcoins.
It merely enables direct trade between prospective buyers and sellers, thus the price is determined by an agreement between the two parties.
But how can you be sure that the individual you’re purchasing from will give you the precise quantity of coins you ordered?
That’s one of the best aspects of LocalBitcoins’ escrow service. By holding the Bitcoin until the transaction is completed, the escrow service protects both buyers and sellers. And it’s all backed up by a ratings and review system that ensures both parties are held accountable, keeping your coins safe and secure.
Registration, purchasing, and selling Bitcoin are all free on LocalBitcoins.
The trade cost on LocalBitcoins is 0%. Allowing you to convert fiat money into Bitcoin with no transaction fees!
However, individuals that advertise their buy/sell offers must pay an escrow fee, sometimes known as an advertising fee, of one percent.
There is no cost if you are buying or selling without generating ads.
You’ll also receive a free Bitcoin wallet to keep your money safe online.
It is also free to transfer money between LocalBitcoins wallets.
When you wish to withdraw your coins from your LocalBitcoins wallet to your own Bitcoin wallet, the only cost you have to pay is the Bitcoin transaction fee.
It’s important to understand that you’re not paying this fee to LocalBitcoins; rather, you’re paying it to miners to get the transaction added to the Bitcoin network.
When compared to the withdrawal fees imposed by most conventional Bitcoin exchanges, this Bitcoin transaction cost is very low.
Users may carry out two kinds of transactions using LocalBitcoins:
- Without making an advertisement: you are accepting someone else’s offer to purchase or sell Bitcoin at a certain price. This technique enables you to purchase Bitcoin for free!
- Create Advertisement: This means you are the one who came up with the idea for the order in the first place. A 1% advertisement fee will be applied.
Using LocalBitcoins, you may buy Bitcoin without paying any fees.
In this video, I’ll teach you how to purchase Bitcoin without paying any fees at all.
Purchasing Bitcoins with Localbitcoins is a quick and straightforward procedure.
Are you ready to purchase your first (small portion of) bitcoins for free?
Create a free LocalBitcoin account first.
To begin, go to the official LocalBitcoin website and create an account. It’s completely free, and you’ll get a free bitcoin wallet as well.
Step 2: Locate a Bitcoin Buyer.
Then go to the main website and look for someone who wants to trade their Bitcoin for your fiat money.
Select “Quick Buy” in the search box, then enter the quantity of Bitcoin you wish to buy in your local currency, your country, and payment method before clicking “Search.”
Are you undecided about how you want to pay? Then, as a payment option, choose “All online offers.”
According to your search, LocalBitcoins will offer you a list of suitable vendors right away.
Step 3: Decide the vendor you want to work with.
Your goal is to locate a trader with a large number of transactions and a solid reputation.
Additionally, seek for a vendor who will respond to your contact as soon as feasible. The response time indicator goes green if a trader responds within 5 minutes, yellow if it takes 30 minutes, and red if it takes more than 30 minutes (grey).
Simply click on a trader’s name from the list to locate the perfect vendor. Examine their profile, feedback rating, and transaction volume. It will provide you with an immediate assessment of the seller’s reputation, which is an excellent indicator of the seller’s reliability.
Step 4: Make a purchase.
You’ll receive additional information about the transaction after you click the “Buy” button; be sure you read, understand, and agree to the conditions of trade before placing an order.
Each vendor has their own set of terms and conditions. Some don’t need you to prove your identity with a picture and document, while others do.
Enter the amount you want to purchase and click “Send trade request” if you agree to trade.
If you’re not ready to purchase Bitcoin from the vendor, don’t click the button. Because if you don’t pay within a certain amount of time, your transaction will be immediately terminated.
Step 5: Make a payment to the seller
When the seller accepts your offer, they’ll give you instructions on how to complete the transaction. If you want to purchase bitcoin through bank transfer, for example, you’ll be given an account number to send your money to.
The seller’s bitcoins are already secured in the LocalBitcoins escrow system, so you can be confident you’re receiving a genuine transaction.
Follow the seller’s instructions and deposit the specified amount of money into the designated account number within the payment window.
Step 6: Bring the deal to a close.
After you’ve made the payment, submit your receipt as evidence of payment and click the “I’ve paid” option to finish the transaction.
When the seller verifies that you have received your funds, the escrow will immediately deliver bitcoins to your Localbitcoins wallet.
That is all there is to it. You’ve just completed your first Bitcoin transaction without incurring any costs.
Is it safe to use Localbitcoins?
Localbitcoins is a genuine cryptocurrency that I have personally tested and utilized. It’s one of the cheapest methods to purchase Bitcoin without paying fees, and it’s particularly helpful for those who reside in poor nations where the number of banks that offer cryptocurrency exchange accounts is limited.
Remember that on Localbitcoins, you’re dealing with strangers. Without a doubt, it draws a tiny number of con artists who want to deceive honest merchants.
But don’t be concerned. While trading Bitcoin on LocalBitcoins, there are a few things you can do to ensure a smooth transaction and stay safe:
- To make your account more secure, use two-factor authentication (2FA). Check out this article if you need assistance.
- Always use the Localbitcoins platforms to communicate and perform your transactions. If you complete all or part of your transaction outside of the platform, there is no escrow service to safeguard you.
- If you’re a buyer, make sure the seller’s payment account information matches their verified identity on LocalBitcoins.
- If you’ve already made a payment to the seller, never click the Cancel Trade option.
- If you’re a seller, never manually release Bitcoin from escrow before double-checking that your money was received!
- Open a dispute if there are any disputes in the transaction.
- Do not click on any links sent to you by your buyer or seller.
- Make a note of Localbitcoins on your browser. Also, utilize the bookmark every time you visit the site to prevent clicking on phishing websites by mistake.
It’s preferable to trade with people that have an established account, a full profile, and a lot of good comments (at least 98 percent ).
You won’t have to worry about being conned if you follow these precautions.
What Can You Do to Keep Your Bitcoin Safe?
Once you’ve completed a transaction, move your Bitcoin from your Localbitcoins wallet to a hardware wallet like the Ledger or Trezor.
Don’t keep your Bitcoin on Localbitcoins for any longer than is absolutely necessary.
It’s dangerous to leave bitcoins on exchanges:
“There are only two kinds of exchanges: hacked exchanges and exchanges that WILL BE HACKED.” Founder of Coinzodiac, Winson
Whether you’re new to cryptocurrencies or a seasoned pro, the safety of your Bitcoin investment is paramount.
Visit this post for additional information on how to safeguard your Bitcoin and crypto investments, including all of my recommendations.
So there you have it. You now know how to purchase bitcoins quickly and without paying any fees. You may save money and obtain the most Bitcoin with your fiat money by avoiding all the needless costs.
Do you have any issues or questions about how to purchase bitcoins without paying fees? Let me know in the comments!
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How to Buy Bitcoin Easily Without Fees? is the question that I am answering. The answer will be a detailed blog introduction paragraph that includes information about how to buy bitcoin without fees. Reference: how to buy bitcoins with cash.
Frequently Asked Questions
Can I buy Bitcoin without paying fees?
Yes, you can buy Bitcoin without paying fees.
Where can I buy Bitcoin no fees?
The best places to buy Bitcoin are Coinbase, Bitfinex, and Gemini.
How do I avoid Bitcoin fees?
There are a few ways to avoid fees. The easiest way is to use the Lightning Network, which allows for instant payments with near-zero fees. Another way is to use a different cryptocurrency like Bitcoin Cash or Litecoin on exchanges that support these currencies, as they do not have the same high fees associated with Bitcoin.
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