How to buy Bitcoin: compare your options
Buying Bitcoin online comes down to how you pay, where you buy, and where the BTC goes afterwards. The table below covers the payment routes; for a fuller comparison of buying methods across crypto generally, see the guide to buying crypto. What follows covers the parts specific to Bitcoin.
Payment methods compared
| Payment method | Speed | Relative cost | ID usually required | Where your BTC lands |
|---|---|---|---|---|
| Debit or credit card | Usually instant | Higher | Yes | Wallet or account |
| Bank transfer | 1 to 3 days | Lowest | Yes | Wallet or account |
| Apple Pay or Google Pay | Usually instant | Higher | Yes | Wallet or account |
| Cash at a Bitcoin ATM | Minutes | Varies by operator | Sometimes | Your wallet, via a scanned address |
| Peer-to-peer | Varies | Varies | Sometimes | Escrow, then your wallet |
Bitcoin network fees and confirmations
Bitcoin transactions are settled by the network rather than by whoever sold you the coins. That affects both what a transfer costs and when the BTC becomes usable.
How Bitcoin network fees work
A network fee is attached to each transaction and goes to the miners who include it in a block. The fee is based on the size of the transaction in data terms rather than on the amount of BTC being sent, so moving a large amount does not automatically cost more than moving a small one. Fees rise when more transactions are competing for space in a block.
When sending BTC from a self-custody wallet, the fee rate you choose can affect how quickly miners are likely to include the transaction when the network is busy.
Confirmations
A Bitcoin transaction is confirmed when it is included in a block, and each block added afterwards counts as a further confirmation. Wallets and services differ in how many confirmations they wait for before treating a balance as settled, which is one reason delivery times vary between providers.
Checking the address
Bitcoin addresses have their own formats, and a confirmed transaction generally cannot be reversed by the sender. Check the destination before confirming, and make sure it is a Bitcoin address rather than one belonging to another asset or network.
Where does your Bitcoin go after you buy it?
When BTC is delivered to a self-custody Bitcoin wallet, you control the keys and can send or spend it once the transaction has confirmed. If you buy through a custodial exchange or app instead, the provider controls the BTC until you withdraw it to a Bitcoin address you control. Self-custody puts backup and key management on you, while custodial holding makes you dependent on the provider.
Comparing what you pay for Bitcoin
Beyond the processing fee shown at checkout, the cost of buying BTC includes the spread built into the quoted rate and the Bitcoin network fee when the coins are delivered or later moved. If you buy on an exchange and withdraw afterwards, a withdrawal fee may apply as well. The final amount of BTC you receive is the most useful comparison, because it reflects the quoted rate and the costs included in the purchase.
Buying Bitcoin at an ATM, on an exchange, or peer-to-peer
The buy flow on this page is one route. Others differ in custody, cost and verification.
Bitcoin ATMs
Bitcoin ATMs let you buy with cash or a card. You scan a Bitcoin address from your wallet so the machine knows where to send the coins, and the BTC arrives after you pay. They go directly to a wallet you control. ATM fees can be higher than other buying routes, so check the rate and total cost before confirming, and note that verification requirements vary by operator and amount.
Bitcoin exchanges and peer-to-peer
These work for Bitcoin as they do for any asset: a Bitcoin exchange holds the BTC until you withdraw it, and a peer-to-peer marketplace matches you with a seller, often using escrow. Both routes, and the risks that come with them, are covered in the guide to buying crypto. If you withdraw BTC from an exchange, check the address and expect a withdrawal fee.
