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A popular way of buying crypto is without going to a centralized exchange first. In this article, the 6 best platforms to do so.

When trading Bitcoin or any other cryptocurrency one has to go to exchange first. The first step is to do a sign-up and verification process and after that deposit some crypto or fiat. This is quite normal for crypto traders but it also comes with high risk.

In the past, a lot of starting crypto exchanges suffered DDOS attacks or were even hacked and lost funds. A good example is the failure of Mt. Gox in the early days were about 850 000 bitcoins were lost.

Trusting a cryptocurrency exchange

This is just one example of the disasters happening in starting crypto exchanges. Also, the idea of Bitcoin is to be a decentralized currency or value of exchange, and to store your crypto on a centralized exchange makes it quite ironic.

But if you still want to trade, how can you be profitable without trusting an exchange? In this article a few ways to buy crypto this way.

Places to buy Crypto without trusting an Exchange

Below is a shortlist of 6 places where you can buy Bitcoin without the need to deposit or withdraw your cryptocurrency. In my opinion, these are the best platforms considered reliable and secure:

  • Coinmama – One of the oldest and most trusted platforms to buy your crypto from anywhere in the world.
  • Changelly – An instant cryptocurrency exchange that allows to buy or sell crypto fast where you are in full control.
  • PayBis – A modern instant crypto exchange specialized in very quick transfers by using credit or debit card.
  • Ledger Nano – Cryptocurrency hardware wallet(offline) that uses a built-in app to buy new cryptocurrency without the need of moving your cryptos
  • Trust Wallet – Multi-currency software wallet that uses a built-in exchange to buy or sell cryptocurrencies.
  • Atomic Wallet – Another multi-currency software wallet that uses a built-in exchange to buy or sell cryptos.
Logo CoinmamaInvest in Bitcoin with ChangellyPaybis
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Logo Ledger NanoTrust WalletAtomic Wallet logo
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How does this all work?

As explained above, being an investor in this cryptocurrency space comes with some risks. Also, if you are able to protect yourself, the rewards can be very good, in fact, they can be life-changing if bought at the right time!

In general, to be safe, buying cryptocurrency this way involves two steps. First, you have to get yourself a proper cryptocurrency wallet that holds your private keys. Additionally, there are two options: software wallets and hardware wallets.

Secondly, after setting up a proper wallet, you can go to the platforms summed up in the list above. In addition, you perform the requested transaction at their platform by buying some cryptocurrency. Moreover, these platforms use a very simple procedure when buying crypto that is very straightforward. During this procedure, it’s very important to give your public key which the platform will use to send your newly bought crypto. That’s all, very simple, isn’t it? Next, in this article a deep dive into the several platforms that will not hold your private keys when buying cryptocurrency.

Buy Bitcoin Without Exchange: Best Platforms

As explained above, as a cryptocurrency investor you have several options in buying new cryptocurrency. Additionally, the platforms mentioned below are good examples of ways to buy any crypto without the need of trusting a third-party platform.

In general, their service is to offer speed while you keep full control of the private keys thus your newly bought cryptos!

Coinmama

Buy crypto without exchange Coinmama

Coinmama offers the possibility to buy or sell cryptocurrency. Buy Bitcoin or Ethereum is possible without going to exchange first. They are a known player in the crypto space and have been there since 2013.

To buy or sell Bitcoin, you can do it from within their platform and they choose the exchanges with the lowest exchange rate. It doesn’t matter where you are located in the world, because their platform offers you to trade from anywhere.

Ways to buy Crypto on Coinmama

1. Credit/debit card

If you don’t have a credit card but want to buy crypto, there is the possibility to buy it with a debit card. Currently, Coinmama accepts payments with Visa and Mastercard. Other payment options like Paypal, American Express, or Discover aren’t accepted yet.

I think it’s important to know that when buying with a credit or debit card, you have to pay a small fee due to the commission by VISA or Mastercard. The Bitcoins you are trying to purchase will be sent to you in a few minutes once your account is verified. Coinmama offers industry-leading purchase limits.

2. Bank account

If you are living in the European Union or Great Brittan then there is another option for you available. It’s also possible to buy Crypto with a SEPA bank transfer. Currently, there is a limit of about 12000 USD per day but with no extra fees.

Sell bitcoin

Recently, Coinmama offered a new option in their service. Now it’s also possible to sell Bitcoin and receive Euro on your bank account. This option is only available when you are a European resident. In a few steps the way to do this:

  1. Login to your Coinmama account and select sell
  2. Choose the amount of Bitcoin you like to sell
  3. Create order(Enter bank account, IBAN, country)
  4. Send the coins to the wallet of Coinmama

One thing I think is quite unique in their service is the offer system they have. If you want to buy a bigger amount of Bitcoin($1000 or $3000), they come with a discount of 15% which is a limited offer. This is something I haven’t seen before on other platforms.

>>Go to Coinmama here


PayBis

Get Bitcoin fast with PayBis

Next, in the list of platforms that don’t hold your private keys is PayBis. This platform recently(2016) showed up in the cryptocurrency space and their service is mostly targetted on buying or selling crypto quickly.

In fact, this platform is probably the best option if you want to buy bitcoins fast. On their website, they claim that this process can be done in just 15 minutes. In general, this is how it works:

  1. Create a Bitcoin wallet. If you don’t have one yet, there are two options: software and hardware wallets.
  2. Start a new transaction on the PayBis platform.
  3. Enter your public key(Bitcoin address) and pay with a credit card.
  4. Within 15 minutes you will receive Bitcoins in your wallet.

Features of Paybis platform

Although their services are aimed at acquiring cryptocurrency fast, also PayBis has different features to offer. Firstly, it’s possible to buy up to $20000 worth of crypto in a single transaction. Moreover, it comes with a monthly limit of $50000.

Furthermore, their services are on a global scale and not limited to western countries only. Finally, the support on this platform is available 24 hours a day and will help you with questions or urgent problems.

Alternative ways to buy cryptocurrencies

Last but not least, I want to mention that besides credit cards, they also offer to buy Bitcoin with Skrill, Neteller, Payeer, and Advanced cash.

>>Go to PayBis here


Changelly

Buy crypto without exchange Changelly

Another option to buy crypto without exchange is Changelly . Changelly is an instant cryptocurrency exchange that allows to exchange crypto fast and buy Bitcoin(BTC), Ethereum(ETH), Polkadot(DOT) for USD and EUR. The service mechanism searches for the best crypto-to-crypto rates and supports over 130 cryptocurrencies available for exchanging one to another.

Another interesting feature of this platform is that you can buy Bitcoin without verification. In fact, the way it works is that you only have to give the public key to your local wallet. Additionally, you process the order at their platform and you’re done.

Changelly offers a trusted service to almost 2 Million users worldwide and without revealing user identities. They offer good security service and after you have set up an account on their platform you have to enable 2FA(2 step verification). I think this is a good thing and makes Changelly trustworthy.

Transaction fees

Fixed rates are not offered on their platform, this is because of the volatile nature of cryptocurrency. Instead, rates are tied to the latest transactions and the lowest at that time of date. The commission fee is charged at a rate of 0,5% for crypto-to-crypto swaps.

Bank cards

For bank transfers, they have a partnership with Simplex and Indacoin. Simplex offers services for direct payment with ETH, BTC, and BCH. When buying crypto this way you don’t need the double conversion which is very usual at other crypto exchanges.

Limitations for buying with fiat

Like I explained earlier, fiat transactions are handled by their partners Simplex and Indacoin. They both have some rules and regulations you should know:

Indacoin

  1. USA, Canada, and Australia
    $50 limit for the first transaction made. After that, the next purchase can be done in 4 days and has a limit of $100. After 7 days the limit will be raised to $500. In one month there are no limits.
  2. CIS region(Russia/Ukraine/Belarus)
    The first transaction has a limit of $200. For the first week, the limit is set to $2000 and for the entire month $10000.
  3. EU and other countries
    Like the USA, Canada, and Australia. The first week has a limit of 6 payments.

Simplex

  1. The first transaction has a minimum of $50 and a maximum of $10000
  2. The daily limit is set to $20000
  3. The monthly limit is set to $50000

>>Go to Changelly here


Buy Bitcoin without Exchange: Crypto Wallets

Purchasing Bitcoin or any other cryptocurrency can also be done from within a crypto wallet. As explained above there are two types of wallets available:

  1. Software wallets
  2. Hardware wallets

In this chapter the best cryptocurrency wallets that offer a built-in exchange. In addition, your crypto should never leave the wallet where you can be in full control.

Ledger Nano hardware wallet

Indeed, if you favor being in full control of your own cryptos then the Ledger Nano hardware wallet should be it. Particularly, the Ledger Nano wallet is a USB storage wallet with Bluetooth connectivity available.

Also, this way it’s possible to store your cryptocurrencies offline which is the most secure option. Furthermore, the wallet enables users to perform a wide variety of functions, including sending and receiving bitcoin from blockchains or running third-party apps on the device.

Besides holding your crypto safe in the wallet, users can also purchase new crypto because of Ledger wallet uses a built-in exchange feature. This feature uses a third party(Coinify) so buying comes at a cost: 4.5% credit card fees or 1.7% for bank transfers.

Ledger Nano X
Example of Ledger Nano X

How To buy Crypto with Ledger Live App

  • Set up Ledger Live with your Ledger device
  • Make sure your Ledger device has the latest firmware version
  • Update Ledger Live to at least version 2.5.0
  • Add an account for the crypto you want to buy
  • In the Ledger Live App: Click ‘Buy Crypto
  • Now choose crytpto symbol to buy
  • Add account(your Ledger public key) where the crypto should be sent to
  • You can disconnect your Ledger Device here
  • In Live App: Give amount to buy and click ‘Continue

After the purchase, the newly acquired crypto will be automatically sent to your public key address on your Ledger.

Trust Wallet

Another decentralized wallet to hold your cryptocurrency tokens is Trust Wallet. Furthermore, Trust Wallet is available for download on desktop and for mobile devices. Many cryptocurrency users favor this wallet because of its ease of use over several blockchains and the number of cryptocurrency tokens it can hold(1K+).

Trust Wallet is a multi-functional wallet and besides storing crypto or staking, it also has a built-in exchange for cryptocurrency purchases. For example, buying Bitcoin can be done instantly(with a credit card) at an additional cost of 5% for the entire transaction.

Staking crypto is also a feature of this multi-functional wallet where Trust Wallet supports 9 different cryptocurrency coins.

Buying Vechain(VET) with Trust Wallet

How to Buy Bitcoin with Trust Wallet

Buying crypto without going to an exchange can be done with Trust Wallet as follows:

  1. Install Trust Wallet: iOS Crypto Wallet / Android Crypto Wallet
  2. Tap on ‘Buy Bitcoin‘ and give amount
  3. Give credit card and finish the order

Atomic Wallet

Atomic Wallet is a decentralized online cryptocurrency wallet available on desktop and mobile devices that supports more than 500 coins and tokens. The wallet is suited to crypto investors of all experiences and provides a simple, safe, and convenient means to store digital assets.

Besides storing cryptocurrency on the wallet, users can also purchase new crypto because Atomic wallet uses a built-in exchange feature. This feature uses a third party(Changelly) so buying comes at a cost: 2% additional fees at a minimum of $10 each.

All in all, Atomic wallet is a reliable solution if you favor having your cryptos accessible for regular use, on your mobile device.

Buying cryptocurrency with Atomic Wallet

How To Buy Bitcoin with Atomic Wallet

Buying crypto without trusting an exchange can be done with Atomic Wallet as follows:

  1. Install Atomic Wallet for free
  2. Verify your Identity(KYC)
  3. Start buying Bitcoin(credit card)

Conclusion

Can centralized exchanges be trusted? Do you want to get involved in cryptocurrency without being a trader? These are good questions and in this guide, I have shown you 6 ways to buy Bitcoin without exchange.

Is there any downside to buying Bitcoin or any other cryptocurrencies this way? The only thing a centralized exchange has in favor is high liquidity and the possibility to buy crypto cheap.

Therefore it’s is totally up to you to decide if you are willing to risk your mighty cryptos to a ‘trusted’ third party. Again, this article shows you the way to stay in full control of your own ‘crypto money‘. Stay safe out there!

The following articles might also be a good read for you:


***Important: List of top Crypto Products

🌍 Search engine(Earn crypto[PRE] while searching)Presearch
🔐 Best hardware walletLedger Nano
📈 Best tool for analyzing the Crypto MarketTradingview
👀 VPN service to be Anonymous OnlineNordVPN Service

***To be Profitable in the markets


Disclosure: This post could contain affiliate links. This means I may make a small commission if you make a purchase. This doesn’t cost you any more but it does help me to continue publishing cool and actual content about Bitcoin & Crypto – Thank you for your support!

Jelmer Steenhuis
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Jelmer Steenhuis

Online entrepreneur at uDigitize
Crypto believer and 'Hodler' of Bitcoin since the early days. Spreading the word about this exciting new technology..
Jelmer Steenhuis
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