How to Buy Crypto with OANDA

Can You Buy Crypto with OANDA?

OANDA is primarily a forex trading platform, and it does not offer direct cryptocurrency trading or purchases. However, users can indirectly trade cryptocurrencies by trading derivatives like CFDs (Contract for Difference) that track the price movements of cryptocurrencies, such as Bitcoin or Ethereum.

This means that while you cannot buy cryptocurrencies directly on OANDA, you can speculate on their price movements through CFDs. It's important to keep in mind that trading CFDs involves significant risk, and you should fully understand the risks and potential rewards before engaging in this type of trading.

How to buy Bitcoin or Crypto with an OANDA Alternative

As outlined above, the best alternative to buy, sell and trade over 400 cryptocurrencies in 120+ countries is Bybit. They are the world’s leading crypto asset trading platform, with over 10 million registered users. With Bybit, users can deposits over 50 fiat currencies with low fees to trade a wide range of markets with low fees and deep liquidity.

You can get started with this simple guide:

1. Create Account: Sign up to Bybit and verify your identity.
2. Deposit Funds: Select the fiat currency you want to deposit, the deposit method and total amount to complete a funds transfer.
3. Find Market: Select whether you want to trade spot markets, futures markets or crypto options.
4. Execute Trade: Find the asset you want to buy and execute your trade.

About OANDA

OANDA is a global leader in currency data, offering forex & CFD trading, corporate fx payments and exchange rates services for a wide range of organizations and investors. Through its award-winning online trading platform, clients can trade over 100 instruments including currency pairs, precious metals, indices and commodities.

The company is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA) (ID 0308179). The company is also registered with the Financial Conduct Authority (FCA) of the United Kingdom and is a member of the Investor Compensation Fund (ICF).

Final Thoughts

In summary, OANDA Crypto currently only allows users to trade CFDs on cryptocurrencies, which means that you are buying a contract that tracks the price of the crypto asset, but not the underlying coin. As a globally trusted alternative, we recommend using Bybit, a leading crypto asset trading platform available in over 120 countries, with over 10 million registered users. Bybit offers low fees, deep liquidity, and a wide range of markets for trading over 400 cryptocurrencies.