Interested in buying Bitcoin, but discouraged by the high fees associated with buying this cryptocurrency? Rest assured, there are ways to buy Bitcoin at no cost. Let’s explore the different options available to buy Bitcoin without fees or to minimize the fees of such an investment.
What method to buy Bitcoin without fees?
Buying Bitcoin (BTC) can sometimes incur additional feescommissions taken by the platforms themselves or the payment providers.
Indeed, the fees associated with the purchase of Bitcoin can vary considerably depending on the payment methods and platforms used. Credit card fees can be high, often reaching 3 to 4% of the total amount of the transactionwhich may deter many buyers.
However, there are ways to buy bitcoin without having to pay fees and it involves the use of bank transfer as a method of payment.
Here are some of the platforms, which allow under certain conditions to buy bitcoin free of charge via a bank transfer.
Where to buy Bitcoin without fees?
The following table quickly summarizes some cryptocurrency platforms with which it is possible to buy Bitcoin free of charge:
Here are more details about these platforms and the requirements to take advantage of buying Bitcoin without fees.
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Created in 2019, ZenGo is a digital wallet that offers a variety of cryptocurrency-related services such as buying, selling, safe storage and staking. Much more than a simple crypto wallet, ZenGo also allows interaction with decentralized finance (DeFi) and its multiple protocols.
Where ZenGo really stands out is with the use secure multi-party computing (MPC). This technology, formerly reserved for institutions, guarantees ultra-secure storage of cryptocurrencies on the wallet.
Currently, new ZenGo users can buy up to $200 worth of Bitcoin (and any other cryptocurrency) free of charge using any means of payment available, even the bank card. This offer is only available for purchases made through the ZenGo mobile app, downloadable on iOS and Android.
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Mt Pelerin is a platform offering a simple and completely transparent solution for the purchase of cryptocurrencies. Based in Switzerland, this company is regulated and does not require identity verification (KYC) to access its services, at least up to a certain amount.
The major advantage of Mt Pelerin lies in the fact that the platform does not apply any fees for the purchase of Bitcoin and cryptocurrencies up to 500 Swiss francs (or equivalent) per year.
This limit can be extended to 5,000 Swiss francs (or equivalent) per year by holding 50 MPS (the platform token), or even to 50,000 Swiss francs (or equivalent) per year by holding 500 MPS.
This offer is only available via bank transfer payment and the euro is of course accepted.
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Platform regulated in France and holder of the PSAN registration issued by the AMF, Crypto.com allows you to deposit euros without fees via bank transfer. However, contrary to the solutions presented below, this possibility is less accessible. Indeed, Crypto.com only accepts transfers of at least $100.
Also note that Crypto.com does not charge fees for US dollar deposits, but that your bank may apply processing fees if you send euros to Crypto.com.
So, using Crypto.com to deposit euros is better if you have a Revolut or N26 card for example, because they do not charge fees for currency conversion.
Afterwards, Crypto.com offers its new users the possibility to buy Bitcoin free of charge for 30 days following their registration date. Buying Bitcoin free of charge with Crypto.com is therefore limited in time, but not in the amount you want to invest.
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