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  • Jordan Hinsch

The Cheapest Ways to Buy Bitcoin: Coinbase Pro vs Swan vs Strike vs Cash App

Updated: Feb 26




Note: This is not trading advice, the following is strictly my opinion only. This is not financial or trading advice. Buying, Selling, and Trading cryptocurrencies comes with inherent risks. Always do your own due diligence.




Bitcoin.....



Volatile? Yes.

Highest ROI of any asset class in the last 12 years? Yes.

Risky Investment? Yes.

High purchase fees?? Not anymore!!!



Just as stock brokerages have nixed their trading fees and commissions, crypto exchanges are following suit. In this post, you'll learn about the current market leaders and the cheapest ways to buy Bitcoin. There are companies out there who claim to have zero fees, or very low fees, but they will sell you an inflated price for Bitcoin. This is a breakdown of the absolute best of the best with the lowest fees, no tricks, no BS, and no inflated prices. These companies are added based on my personal experience.


If you're brand new to Bitcoin, prep yourself with some basic knowledge by reading my Bitcoin Starter and Onboarding Guide. Also be sure to check out my post on legitimate ways to Earn Free Bitcoin. It's easier than you think.




The Cheapest Ways to Buy Bitcoin

Strike

Swan Bitcoin

Cash App

Coinbase Pro













Strike


  • Launched: 2020

  • Founder: Zap/Jack Mallers

  • Tested by author: YES

  • Customer Service: No data

  • Best Feature: Ability to buy & sell with no additional fees. No fees for withdrawals.

  • Biggest Complaint: Not available in New York! Also, no DCA yet (dollar cost averaging).


Jack Mallers is a genius. Using the Lightning Network, Strike allows for the quickest Bitcoin transfers in the world (as of post date), literally. They charge NO fees for buying, selling, and sending. They're working on a few ground-breaking projects with the most notable being the ability to convert a portion of your paycheck to Bitcoin. Just like their other products, there will be no added fees for this service. This is a revolutionary service which has been adopted by some NFL players already while in beta testing. You can also earn cashback while spending your Strike balance at online stores. Strike is destined to be a significant disrupter in the industry if they're able to add a DCA feature.


The biggest flaw is that it's not available in New York! This needs to be addressed.






Swan Bitcoin


  • Launched: 2019

  • Founder: Cory Klippsten

  • Tested by author: YES

  • Customer Service: 10/10

  • Best Features: Free auto-withdrawal to cold storage! Low fees!

  • Biggest Complaints: No app, browser-based only. Duration of funds to clear.


Swan Bitcoin is truly the best way to DCA (dollar cost average) your Bitcoin purchases. You can set up recurring purchases at any frequency and for as little as $5. The fees are among the lowest in the industry and their platform allows you to turn on auto-withdrawal. If you have a hard wallet, you can provide Swan with your address and they'll automatically send the Bitcoin you purchase to your cold storage, for FREE. This means ultimate security while enjoying low fees. It's a win-win.


Fees are as low as 0.99% for their pre-paid plan and if you're investing more than $50 per week.


The downside of Swan is the amount of time it takes for your funds to clear. This is for their protection and to prevent fraud, but I believe there is a better system. As it stands now, your purchase takes 10 days to clear in their system. After that, it is available for withdrawal. It's not the end of the world, and you pay for the price of Bitcoin upon your initial deposit, but I'm assuming the duration to clear funds is related to illiquidity at Swan. They also need an app!