Starter Kit: Purchase Bitcoin without Fees
This guide is outdated, since Cubits increased the fees for the method explained here. Better check out the new guide: Invest long term in 2 Simple Steps.
Either you want to purchase Bitcoin for the first time or you finally want to get rid of the ridiculous fees. I will show you step by step, how to purchase Bitcoin with 0€ fees!
Purchase Bitcoin Without Any Fees
There are dozens of exchanges and service providers out there where you can purchase Bitcoin. I simply recommend Cubits. Why? It is the most simplistic and cheapest exchange out there. Registration is done within a minute and the subsequent verification can be done online within five minutes. The only thing you need is a passport, a microphone and a webcam. During the authentication a person will guide you. Honestly, five minutes is max. And that’s it. Then you can start to buy Bitcoin.
The caveat when purchasing Bitcoin, wherever you do it, is the ridiculous fees. If you purchase Bitcoin for 5000€ with a credit card, you will easily pay 300€ fees for that. And if the exchange does not show you the fee explicitly, then it is probably even higher and calculated into the bad exchange rate. Cubits first of all show the fee very explicitly and give you the current rate USD rate from the bitstamp exchange. But even Cubits offers an option to purchase Bitcoin for 0€ fees!
Instead of now going about the obvious way, on the website to “Buy Bitcoin” and select credit card or something else expensive, we will go down the sneaky peeky way: Let’s charge our Cubits account with cash on the prepaid cash account in there. To do so, select your username in the upper right and click on “Cash Account”. Once the site is open, you have the single option to “Make Deposit”. You can select the amount you wish to transfer with SEPA and then confirm that. It will pop up a window stating the details of the outgoing transfer.
In about two days, you will receive a confirmation from Cubits that your funds were received and added to your account. Log in and go to “Buy Bitcoin”. Now, you can finally select the earlier grayed out option of “Cash Account”. The fee will be close to 0€. You definitely cannot get Bitcoin anywhere else cheaper!
One more time the steps for the purchase:
- Register on Cubits.
- Authenticate with Video Ident.
- Go to the cash account and make a deposit with SEPA.
- Then purchase Bitcoin with the cash account.
Please regard that there is no referral link or something else for this information! I would really appreciate a small donation to “1Chm9AqAUNC4Kb54xmgUqHRYw5CgZLK4zn”, since otherwise you would have paid a fortune for the exchange. <3
First of all: Congratulations for the purchase of your first Bitcoin! This is only the beginning of your journey. The hindrance now upcoming is the security of your Bitcoin funds. Once Cubits is gone (hacked, servers burned down or Godzilla ate it), your Bitcoin are also gone. So, you should better prepare yourself and go on the the next article about moving your Bitcoin on a private wallet.