Introduction
Bitcoin-only exchanges are specialized platforms designed exclusively for buying and selling bitcoin using fiat currencies or stablecoins. These platforms cater to individuals who prefer to focus solely on Bitcoin, avoiding the complexity and risks associated with numerous alternative cryptocurrencies.
To get started, users typically need to sign up with basic personal information and fund their accounts via bank transfers or cryptocurrency deposits. However, understanding Bitcoin's fundamentals is crucial before investing. We highly recommend educating yourself on Bitcoin's principles and security practices to make informed decisions and safeguard your assets effectively.
Why Choose a Bitcoin-Only Exchange?
Many investors, after grasping Bitcoin's value proposition, prefer to avoid the noise of the broader cryptocurrency market. Bitcoin-only exchanges recognize Bitcoin as sound money and support the ecosystem without distractions from inferior digital assets. These platforms often emphasize security, user privacy, and community alignment, reducing exposure to risks associated with altcoins.
Top Bitcoin-Only Exchanges
Amber
Amber offers automated Bitcoin transaction options, such as triggering buys based on market indicators or influential figures' actions. Basic accounts incur a 0.99% fee on transactions, while premium users enjoy zero fees. The platform stores bitcoin in collaborative multi-signature cold storage with Unchained Capital, enhancing security for custodial wallets.
Bisq
Bisq is a decentralized, peer-to-peer exchange operating without central servers or single points of failure. It requires no personal information or linked bank accounts, making it ideal for privacy-conscious users. The software supports trades between bitcoin and fiat currencies or other cryptocurrencies, entirely non-custodially.
Coinbits
Coinbits, one of the oldest U.S.-based bitcoin-only exchanges, allows users to invest spare change from everyday purchases via round-ups. It supports automated investments and scheduled purchases, with funding options including ACH, wire transfers, and peer-to-peer payments. The platform emphasizes security, offering integration with cold storage wallets and a user-friendly experience.
Bull Bitcoin
Established in 2013, Bull Bitcoin provides a straightforward service for buying bitcoin and paying bills online. It features tiered transaction fees ranging from 0.5% to 1.25%, based on transaction volume. The exchange is renowned for efficient customer support and a no-frills, transparent approach.
Cash App
While primarily a peer-to-peer payment system, Cash App facilitates bitcoin buying and selling. It allows withdrawals to external wallets, though with daily and weekly limits. Fees vary based on market conditions and are disclosed at the time of purchase. 👉 Explore secure trading platforms
CoinCorner
Serving over 2 million users across 45+ countries, CoinCorner supports deposits and withdrawals in pounds and euros. It charges fixed transaction fees, with free deposits in the U.K. and Europe, and a £25 fee for other regions. Bitcoin deposits and withdrawals are fee-free.
Hodl Hodl
Hodl Hodl is a non-custodial, peer-to-peer exchange that also offers lending services. It requires no KYC/AML procedures and supports numerous fiat currencies and payment methods. Trades are secured via multisig escrow, ensuring bitcoin is released directly to the buyer's wallet upon payment confirmation.
Relai
Based in Switzerland, Relai offers instant bitcoin purchases through SEPA integration and weekly/monthly savings plans starting from 10 EUR. It requires no registration or strict KYC, making it beginner-friendly and hassle-free for long-term holding.
River
River is a U.S.-based custodial exchange providing educational resources and secure bitcoin purchases. Fees start at 1.20%, with no charges for recurring buys. All assets are stored offline in cold storage, and the platform also offers bitcoin mining purchases.
Robosats
Robosats is a privacy-focused, peer-to-peer exchange operating over the Lightning Network via the TOR browser. It uses pseudonymous avatars to avoid KYC requirements and allows swaps between on-chain and Lightning bitcoin. The non-custodial platform prioritizes security and anonymity.
Strike
Strike leverages Bitcoin technology for global, fee-free instant payments. Users can buy/sell bitcoin, pay contacts, purchase goods, and tip content creators. The platform integrates seamlessly with existing financial systems.
Swan
Swan competes directly with River in the U.S., offering recurring purchases at a 0.99% fee. It boasts competitive USD/BTC conversion rates and emphasizes security, making it a popular choice for automated investing.
Unchained Capital
Unchained Capital provides financial services like Bitcoin IRAs, advisory services, and inheritance planning. It features multisig cold storage and caters to long-term holders seeking robust asset protection.
Bitonic
Based in the Netherlands, Bitonic offers brokerage services with an all-in price for bitcoin purchases directly into user wallets. Its BL3P exchange charges a flat 0.25% trading fee and supports Lightning Network deposits/withdrawals.
Frequently Asked Questions
What is the best Bitcoin-only exchange?
The "best" exchange depends on individual needs, such as ease of use, privacy, or security preferences. Non-custodial options like Bisq or Hodl Hodl suit privacy-focused users, while automated platforms like Swan or River cater to hands-off investors.
Which Bitcoin exchanges are the most trusted?
Exchanges that avoid rehypothecation, maintain proof of reserves, and prioritize transparency are generally more trustworthy. Bitcoin-only platforms and non-custodial P2P services often excel in these areas.
Which Bitcoin exchange has the lowest fees?
Apps like Cash App or Relai often feature competitive fees, but costs vary based on transaction type and volume. Always review an exchange's terms and conditions to avoid unexpected charges.
Which exchange is the safest?
Non-custodial exchanges are typically safer, as users retain control of their private keys. However, even custodial services with cold storage and multisig capabilities can be secure. For optimal safety, transfer bitcoin to a hardware wallet after purchase.
How do I start using a Bitcoin-only exchange?
Sign up with basic details, complete any required verification, and deposit funds via supported methods. Most platforms offer intuitive interfaces for buying, selling, or automating investments. 👉 Get started with advanced trading tools
Are Bitcoin-only exchanges regulated?
Regulations vary by jurisdiction. While some platforms comply with local KYC/AML laws, others operate decentralized and avoid regulatory oversight. Users should choose exchanges aligning with their compliance preferences.
Summary
Bitcoin-only exchanges continue evolving, offering enhanced security and usability. The 2022 collapse of several cryptocurrency services underscores the importance of decentralized, non-custodial platforms. Regardless of the exchange chosen, moving bitcoin to self-custody wallets after purchase remains a critical best practice to mitigate risks.
By focusing on Bitcoin-exclusive platforms, investors can streamline their experience, reduce exposure to altcoin-related volatility, and align with a community dedicated to sound money principles.