Step 4
Where to Buy Bitcoin: Trustworthy sources
Looking for reliable sources to buy Bitcoin? Now that you've secured your own wallet and protected your keys with SatSaver, let's explore your options. Where should you make your purchase? How much should you buy? Should you invest all at once or gradually over time?
Safe Places to Buy Bitcoin
Swan Bitcoin
Our top all-around recommendation for buying Bitcoin is Swan Bitcoin. They offer instant purchases and the ability to set up recurring buys. You can automate buying any amount you desire on a daily, weekly, or monthly basis. Plus, Swan allows free transfers to your personal Bitcoin wallet. As a trusted Bitcoin-only financial provider, Swan is our team's go-to choice. It works seamlessly whether you're investing $10 or $10 million. You can even enjoy white-glove service for larger investments.
Join through our link and receive $10 of Bitcoin
Unchained Capital
Another option for larger amounts is Unchained Capital. Unchained has a unique system where you can create multi-signature vaults. These are accounts that are secured by three private keys, and you need at least two of them to move any of the funds. As you can tell, this is a good option if you are dealing with higher amounts and want extra security. You can walk through the process yourself, or pay a fee to get assistance. Note that when buying Bitcoin through Unchained you must purchase a minimum of $2,000 at a time.
Cash App
For those who already have the app, Cash App is a simple way to start buying Bitcoin. However, it's worth mentioning that Cash App has higher fees compared to Swan and lacks the ongoing support, educational resources, and services offered by both Swan and Unchained. It also places limits on how much you can buy and transfer at a time.
Our top all-around recommendation for buying Bitcoin is Swan Bitcoin. They offer instant purchases and the ability to set up recurring buys. You can automate buying any amount you desire on a daily, weekly, or monthly basis. Plus, Swan allows free transfers to your personal Bitcoin wallet. As a trusted Bitcoin-only financial provider, Swan is our team's go-to choice. It works seamlessly whether you're investing $10 or $10 million. You can even enjoy white-glove service for larger investments.
Join through our link and receive $10 of Bitcoin
Another option for larger amounts is Unchained Capital. Unchained has a unique system where you can create multi-signature vaults. These are accounts that are secured by three private keys, and you need at least two of them to move any of the funds. As you can tell, this is a good option if you are dealing with higher amounts and want extra security. You can walk through the process yourself, or pay a fee to get assistance. Note that when buying Bitcoin through Unchained you must purchase a minimum of $2,000 at a time.
For those who already have the app, Cash App is a simple way to start buying Bitcoin. However, it's worth mentioning that Cash App has higher fees compared to Swan and lacks the ongoing support, educational resources, and services offered by both Swan and Unchained. It also places limits on how much you can buy and transfer at a time.
Comparison of Fees, Limits
*As of 8/21/2023
Purchase Fee
- Swan 1% fee
- Unchained 1% fee
- Cash App 1.3-2.3% fee
Purchase Minimums
- Swan No minimum, place one-time or recurring purchases
- Unchained Minimum purchase of $2,000 at a time
- Cash App No minimum, place one-time or recurring purchases
Transfer Fees
- Swan FREE transfers to your wallet, no network fees
- Unchained Transferred directly to your Unchained multi-sig vault at purchase
- Cash App Network fees to transfer to your wallet
Withdrawal Limits
- Swan Auto-withdrawal to your wallet, no withdrawal limits
- Unchained Transferred directly to your Unchained multi-sig vault at purchase
- Cash App $2,000/day and $5,000/wk withdrawal limits to your wallet
Regardless of where you choose to buy Bitcoin, ensure that you have the option to send it to your personal wallet, and make use of this feature. Both Swan and Unchained make this process secure and hassle-free.
Use Bitcoin-only providers rather than exchanges
While there are other options available, we urge you to purchase from Bitcoin-only providers rather than exchanges. Exchanges that deal with cryptocurrencies expose you to unnecessary risks. There's no need to use an exchange to acquire Bitcoin.
Smash Buy vs Dollar Cost Average (DCA)
How much should you buy right now?
It's recommended to start with a small amount, such as up to $100. This allows you to test the buying and receiving process to your wallet before making larger purchases.
As for how much you should buy in the future, the answer varies for each individual based on their goals, timeline, and risk preferences. However, we have some general recommendations below. Please note that we are not financial advisors, so it's important to invest wisely based on your personal situation. It is strongly advised to purchase Bitcoin with funds that you can invest for the long term.
Begin with allocating 1% of your long-term savings to Bitcoin
By doing so, even if it somehow gets lost, it won't have a significant impact on your life. However, if Bitcoin's value increases significantly over time, it can greatly benefit you. Investing a small percentage of your savings into Bitcoin is a conservative risk worth considering.
Think of Bitcoin as an insurance policy for your savings
If you're willing to invest more, consider allocating 2.5% of your wealth as an insurance policy against potential monetary disasters over a 10-year time period. Just like how people pay a certain percentage of their home's value for insurance, investing in Bitcoin can provide protection and potential growth for your savings.
Increase your allocation as you gain knowledge and understanding
The more you invest, the more important it is to comprehend what you're investing in. At SatSaver, our aim is to provide you with the basics and help you get started. As you become more confident and experienced with Bitcoin, you'll be ready to invest more. Bitcoin's price is currently volatile, meaning it goes up and down a lot. It's worth noting that Bitcoin has never decreased in value over a four-year period. By understanding Bitcoin and adopting a long-term investment approach, you should benefit over a time horizon of 5+ years.
Consider implementing Dollar Cost Averaging (DCA)
DCA is a wise strategy where you determine an amount you want to buy on a repeat basis, and the process is automated for you. For example, you can create automatic weekly purchases of $100 worth of Bitcoin through Swan Bitcoin. They even offer the option to transfer it automatically to your wallet. With DCA, you acquire Bitcoin at an average price over time.
Get Some Bitcoin Today
Link to Swan BitcoinNext Step
💼 Step 5 // Receive Bitcoin in Your WalletFuture Steps:
💸 Step 6 // Send and Pay with Bitcoin
🤝 Step 7 // Share, Change Someone’s Life
Previous Steps:
📚 Step 1 // What is Bitcoin? The Basics
🚀 Step 2 // How to Hold Bitcoin: Creating a Wallet
🔒 Step 3 // Back-up Your Bitcoin: SatSaver Kits
💰 Step 4 // Buy Bitcoin: Trustworthy Sources
