Cryptocurrencies have proved one of the most profitable assets to own in recent years. Since emerging in 2009, the industry has grown to surpass a $2 trillion valuation. The coin with the biggest market cap in this industry is the first – Bitcoin. Other major coins such as Ethereum have also grown to significant valuations and generated huge returns for early investors.
In this guide we cover where to buy Bitcoin in Bulgaria, the best brokers, Bitcoin’s today price, and a price prediction for the future. Let’s start by taking a quick look at how investors can set up an exchange account and buy Bitcoin instantly.
How to Buy Bitcoin Bulgaria – Quick Guide
By following the four simple steps below, readers can get set up with a Crypto.com account and begin to invest in Bitcoin in Bulgaria, alongside many other assets:
- Step 1: Open an account – The first step is to visit the Crypto.com website and set up a free account. To do this simply follow the onscreen instructions and enter a username and password.
- Step 2: Deposit – Users must validate their accounts before depositing. They will need to provide a valid government ID in order to do this. Once this step is complete, users can deposit using various payment methods, including bank transfer and debit/credit card.
- Step 3: Search for Bitcoin – Use the Crypto.com website and search for Bitcoin. Click on the ‘Trade’ button next to the asset to open an order execution form.
- Step 4: Buy Bitcoin – Enter an amount to invest in Bitcoin and click ‘Buy’. Users will now have successfully added a Bitcoin position to their crypto wallet.
Where to Buy Bitcoin in Bulgaria
With the crypto industry being so large, there are thousands of retail platforms offering crypto brokering services. They all boast unique features, fees, and tools to enhance traders’ crypto experience. To save readers time researching crypto exchanges, we have compiled a list of the best places to buy Bitcoin in Bulgaria:
Crypto.com – Buy Bitcoin and Margin Trade
The best place to buy BTC in Bulgaria is Crypto.com. It gives users access to a large breadth of cryptos – over 250 to be more specific. This makes it a great option for those looking to trade volatile altcoins. The platform currently has over 10 million users making it a very popular choice in the crypto community.
It is also great for beginner users who want a simple and easy-to-use platform to invest in Bitcoin in Bulgaria. The only real drawback of Crypto.com is its hefty 2.99% commissions.
Crypto.com offers staking options so users can earn interest on their crypto assets. While this might sound complicated, it just means that users can ‘lock away’ their crypto for extended periods of time, during which Crypto.com will use it to validate transactions on the Blockchain. They earn interest for doing so. The current Bitcoin interest rate is 6%, but other coins can be up to 14.5%.
If users are wanting other ways to earn cash back, then they can use a physical Crypto.com card to purchase items from selected vendors. In turn, Crypto.com will present cashback of up to 8% of the value of the item. This cashback will come in the form of Crypto and will be transferred directly into users’ accounts.
Crypto.com launched its own NFT marketplace, meaning users can trade some of the best NFTs. NFTs have exploded in value over the last two years, and hence being able to trade them from the same platform as crypto is a great bonus.
Crypto.com also has perpetual futures pairs, i.e. margin trading – so you can open a long position on Bitcoin as well as buying it to hold it. Then short sell when you think the market will retrace.
| Deposit fee | Free |
| Commission | 2.99% |
| Fee to buy $100 BTC | $2.99 |
Pros:
- 250+ cryptos and altcoins
- Crypto staking
- Cashback opportunity
- Free deposits
- NFT availability
Cons:
- 99% trading commissions
- Not great for technical analysis
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
Bitstamp – Buy Bitcoin Securely
Created way back in 2011, Bitstamp is a veteran broker in the crypto industry. It has a very easy-to-use interface making it great for beginners who want to buy Bitcoin in Bulgaria. In addition to this, it is also suitable for more advanced traders, as it offers lots of technical tools and price indicators.
The broker gives users access to 45 cryptos, including Bitcoin. There is also a substantial number of altcoins available, which can be good speculative investments for high growth. However, there are a few big coins missing from Bitstamp such as Solana and Polkadot. If users want to trade these coins, then perhaps Crypto.com would be a better option.
Bitstamp is a safe, regulated broker. However, it did face a security breach in 2015 which lead to the hacking of its platform and subsequent stealing of over $5 million in Bitcoin. However, it has since completely reconstructed its platform and faced no subsequent attacks.
Regarding fees, Bitstamp is an extremely low-cost broker to trade with. It calculates fees on a monthly trade volume basis. If users are trading under $10,000 a month, then then the commission fee is just 0.5%. Once users trade higher volumes, this fee number falls drastically.
| Deposit fee | 0.1% |
| Commission | 0.5% under $10,000 volume |
| Fee to buy $100 BTC | $0.5 |
Pros:
- 45 cryptos
- 5% commission
- Easy to use
- Great mobile app
- Advanced platform available
Cons:
- Solana and Polkadot not supported
- Hacked in 2015
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
Coinbase – Buy Bitcoin in Bulgaria Easily
Coming in at number four on our list of where to buy Bitcoin in Bulgaria, we have Coinbase. Coinbase is one of the most famous brokers in the world, with over 70 million users. It is extremely easy to use and has a well-designed mobile app, available on both IOS and Android.
The platform is highly regulated, and insured by the FDIC in the US and the FCA in the UK. These insurers provide up to $250k and £85000 respectively for any lost funds that users may incur when using Coinbase. In addition to its safety, Coinbase supports a low minimum trade value of just $2. Users can also earn up to $5 in Bitcoin when they open a new account.
Coinbase is one of the more expensive brokers out there to trade with, and fees change based on transaction volumes. Transactions of $10 or less are charged a 10% commission. Transactions of $50 and over can expect a lower fee of 5%. In addition to this, Coinbase has a market maker fee of 0.5% on each side of a trade. Finally, when depositing with a credit and debit card, users can expect to pay a hefty 3.99% in commission. These costs make Coinbase one of the pricier brokers to trade with.
| Deposit fee | 3.99% |
| Commission | 5% over $50 |
| Fee to buy $100 BTC | $5 |
Pros:
- 70 million users
- FCA/FDIC insured
- $2 minimum trade size
- $5 Bitcoin earned when opening account
- Highly rated mobile app
Cons:
- Heavy commission
- 99% credit card deposit charge
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
Binance – Buy BTC and 600 Altcoins
Binance is another one of the world’s best crypto exchanges. It offers over 500 crypto pairs, which makes it a great option for those looking to build a heavily diversified portfolio. Having both a basic and advanced mode, Binance caters to investors of all levels. The basic mode lets users check their crypto wallets to see their positions and returns. The advanced mode highlights more technical indicators about each position, which can be great for conducting more advanced analysis.
Binance has high levels of inbuilt security. These include private keys, two-factor authentication, and human verification to log into accounts. There are also more in-depth blockchain measures built into wallets. Therefore, users can rest assured that their funds are safe in a Binance wallet.
Fees come in at 0.5% on either side of a trade. Binance also charges a fixed spread to make profits. In addition to this, users should be aware of the hefty 4.5% commission fee that Binance charges users when they wish to deposit funds using a credit card. It can therefore be a better idea to use a debit card or e-wallet deposit option.
Like Crypto.com, Binance has NFT integration. Users can buy BNB coins for their wallets and use them to buy NFTs directly from the Binance website. This can be great for adding some extra returns to portfolios.
| Deposit fee | 4.5% |
| Commission | 0.5% |
| Fee to buy $100 BTC | $0.5 |
Pros:
- 500 crypto pairs
- 5% commission
- High security
- Beginner and advanced options
- NFT integration
Cons:
- 5% credit card fee
- Not available worldwide
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
Xchange – Bulgarian Crypto Exchange
Another option where users can trade crypto in Bulgaria is Xchange. It offers users access to 10 cryptos, including 2 stable coins. It also allows users to trade Bitcoin and Ethereum. It has a very easy-to-use feel, which is great for beginner investors. Users can also earn up to 8% APY when trading with Xchange.
It is available on both the App Store and Google Play. This makes it a widely accessible application and one of the best crypto apps in Bulgaria. Commission ranges from 2% to 3% based on position sizes, which does make it an expensive broker. There is also a 3.6% deposit fee when users deposit in BGN. However, when users deposit funds using e-pay methods like PayPal and Skrill, they pay no fees.
| Deposit fee | 3.6% |
| Commission | 2-3% |
| Fee to buy $100 BTC | $2-3 |
Pros:
- Earn 8% APY
- Easy to use
- Great mobile app
- Available on IOS, Android, and Website
- Accepts variety of payment methods
Cons:
- 6% deposit fee
- High commission
Gemini – International Crypto Broker
Our final crypto broker selection is Gemini. It supports over 40 coins and has grown to accommodate millions of users since its launch in 2014. Providing access to a large breadth of educational resources is a great option for beginner investors. These resources include a series of videos and articles.
Whilst it caters to beginners Gemini is also great for more advanced investors. It offers a host of technical tools and price indicators that users can employ to conduct in-depth analysis. This makes Gemini a good choice for avid crypto investors who trade markets daily.
In terms of fees, Gemini charges a flat 1.49% commission on all trades, which is complemented by a 0.5% ‘convenience’ fee on top. This does make one of the more expensive brokers to trade with compared to the rest of the brokers in our list. That being said, withdrawals are free of charge which is a good point to note.
| Deposit fee | 0% |
| Commission | ~ 2% |
| Fee to buy $100 BTC | $2 |
Pros:
- Educational access
- 100 cryptos available
- Strong security
- Available in all 50 U.S. states
- Free withdrawals
Cons:
- High commission
Should I Buy Bitcoin?
Buying Bitcoin could be a great way to make some healthy trading profits. However, it can also lead to steep losses due to the volatile nature of the crypto industry. Therefore, users should only trade with the capital they are comfortable with losing.
In addition to this, users should not go into the investing world blind. In other words, they should create a plan of how they want to execute crypto trading orders. This could be a long-only strategy, where users pick the right entry points, then wait to see their investment grow over a 5-year period. A good way of doing this is by dollar-cost averaging, which entails putting small amounts of money into assets over large periods of time. Alternatively, users could pursue a more speculative approach, trading the volatility of Bitcoin with the aim of trying to make shorter-term profits. This comes at more risk but gives users the opportunity to make more short-term cash.
Benefits of Buying Bitcoin
Before any investment, investors should devote heavy research into the asset they are considering purchasing. Crypto is no different, and investors should aim to school themselves on the ins and outs of the market before diving in. To save readers the hassle of Bitcoin research, we have compiled a list of five reasons why Bitcoin could be a profitable investment.
The current price is a great entry point
Readers may be wondering when the best time to buy Bitcoin is. Well, the Bitcoin price is currently down over 55% from its all-time high. While it could fall lower, this means that the current price of the coin could be a great entry point for long-term growth, especially if BTC can reach the $60k level again.
Wider market stability
Everyone knows the crypto industry is heavily volatile. However, Bitcoin tends to have the most stability in the wider market. This is because it is the most highly traded, biggest market cap crypto available. It often acts as a proxy for altcoins, which can be significantly more volatile than BTC. Therefore, a bitcoin investment could add significant stability to your portfolio.
Staking ability
Another great reason why investors may want to invest in Bitcoin is due to its staking ability. Users can earn around 6% interest on Bitcoin if they ‘lock it away’ with their brokers. This can be an even higher figure at selected brokers. Staking Bitcoin can be a great way to earn passive income for portfolios and is often higher than some of the highest dividend-paying stocks.
Decentralized exposure
Cryptocurrency is a decentralized asset. This means it has no central place where information is processed or stored. Rather, transactions are recorded on the blockchain. This makes it not only quicker and more efficient than the traditional payment framework, but it also increases safety due to the direct traceability of payments. As the world comes to adopt this framework more widely, the price of BTC will likely rise.
Easy access
One of the biggest draws to Bitcoin is the fact that it is available on pretty much every crypto broker site due to its demand and popularity. This demand translates into high levels of liquidity which means it is very easy to buy and sell the asset.
Ways of Buying Bitcoin
Most brokers offer multiple ways of buying crypto. We are going to take a look at how users can buy Bitcoin using two common methods: debit and credit card and PayPal.
Buying Bitcoin with PayPal
Users can buy Bitcoin with PayPal very cheaply. This is because it bypasses a lot of the fees incurred when using a credit card (as seen in the broker reviews above). All users need to do to use PayPal as a payment method is to make sure their PayPal account is funded and then link it to their broker. From here they can deposit funds directly into their broker account, usually at no cost.
Buy Bitcoin with a credit card or debit card
If users don’t have a PayPal account and don’t want to set one up to save on broker costs, then they can just link their debit or credit card to make a deposit. Just navigate to the deposits section of the account and enter the correct card details (similar to any online merchant payment). Funds will then be added to users’ accounts, and they can buy Bitcoin instantly.
Bitcoin Price
The current Bitcoin price is $30,300. It has been hovering around the $30,000 mark for some time now, after falling 39% in the last 6 months. Year-to-date returns are equally as bad, at negative 36%, and over a 12-month time span, Bitcoin has fallen by 9%.
Bitcoin Price Prediction
It is very hard to predict the price of such a volatile asset as crypto. In addition to this, because it is a decentralized asset, there is little physical backing to determine its potential price moves other than investor sentiment. At current, there seems to be a lot of negative press regarding BTC, which is likely filtering into negative investor sentiment. However, this isn’t the first time that crypto markets have crashed and it likely won’t be the last.
The biggest determinant of Bitcoin’s price will be the demand for decentralized assets and infrastructure in the coming years. The growth of the Metaverse and Web 3 are lending credence to the vision of a decentralized future, which would undoubtedly benefit Bitcoin. For this reason, there are some analysts who believe the price of Bitcoin is going to surpass $100,000. However, there are also many other commentators who believe there is further to fall and that we will see Bitcoins value decrease below the $20,000 level.
There really is no telling where the price will go, so the best way to trade BTC is to either take a long position and trust the decentralized process or trade it speculatively for short-term profits.
How to Buy Bitcoin Safely
With the wider crypto industry still lacking much-needed regulation, users must be careful when trading. In order to mitigate against this regulation risk, users should only trade with reputable brokers like those listed above.
In addition to this, using tools like stopping losses when trading cryptos can be a smart idea. This is because the crypto markets are open 24/7, meaning overnight double-digit price swings are pretty normal. If proper risk management isn’t taken, then this can lead to devastating losses for investors.
How to Buy Bitcoin in Bulgaria – Tutorial
Now we have covered all the necessary information regarding Bitcoin and brokers, let’s take a look at how readers can set up an account with our best broker, Crypto.com.
Step 1: Create an account
The first step is to visit the Crypto.com website to set up an account. Just click on one of the links in this article and fill out the information form on the homepage.
Step 2: Verify the account
The next step is for users to verify their accounts. This can be done by providing valid forms of government ID, for example, a driver’s license and utility bill copy.
Step 3: Deposit funds
Now users have verified their accounts they can deposit funds using a variety of payment methods. These include bank transfers, credit and debit cards, and e-wallets.
Step 4: Buy Bitcoin
Now investors have funds to use, they need to locate Bitcoin on the Crypto.com website. To do this they should type it into the search bar and click the blue ‘Trade’ button. They can then fill out an order form and open a position.
How to Sell Bitcoin
Selling Bitcoin is just as easy as buying it, just follow these two easy steps:
Step 1: Fund portfolio
Navigate to the portfolio section of the Crypto.com account which highlights all assets that a user holds.
Step 2: Sell BTC
Users should click on their BTC position and select the ‘Sell’ button. Users can then select how much of the position they wish to sell and then execute the sell order.
Conclusion
As we have seen, the crypto industry has been highly profitable over the last few years, generating some big returns for early investors. With the current market in a bearish state, now could be a great entry point for long-term growth.
If readers want to buy Bitcoin in Bulgaria, we recommend doing so through Crypto.com. It is quick and easy to set up an account, the fees are very low, and it’s extremely safe. Click the link below to get started.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.