How to Buy Crypto with Interactive Brokers

Can I Buy Bitcoin with Interactive Brokers?

Interactive Brokers allows you to trade Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, but it’s not ideal for serious crypto investors. The platform relies on Paxos and Zero Hash for execution, adding unnecessary complexity and additional fees. 

With only four crypto options, it's limited compared to dedicated exchanges, which offer better variety, liquidity, and user-friendly interfaces. While fees are low, the lack of native crypto integration makes IBKR more suited for traditional assets than digital ones.

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Best Crypto Alternative for IBKR

If Interactive Brokers feels limiting for crypto, Bybit is a better option. Trusted by over 54 million investors and available in 160+ countries, Bybit offers access to over 1,400 digital assets, crypto staking, and supports fiat deposits in USD, EUR, GBP, and more via bank transfer, credit card, or Google Pay.

Here’s how to buy crypto with Bybit:

1. Sign Up: Visit Bybit, create an account, and verify your identity.
2. Deposit Funds: Fund your account using your preferred method, like bank transfer or credit card.
3. Choose Your Cryptocurrency: Select from 1,400+ assets available.
4. Complete Purchase: Enter the amount, confirm, and finalize your buy.

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Interactive Brokers Crypto Fees

When buying crypto with Interactive Brokers (IBKR), fees are on the lower end compared to many platforms. IBKR charges 0.12% to 0.18% of trade value with no extra spreads, markups, or custody fees. 

This is cheaper than popular retail platforms like Coinbase or Crypto.com, where fees can go up to 2%. Bybit, however, offers the most competitive rate at 0.1%, making it ideal for those looking to minimize costs.

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Does Interactive Brokers Offer Bitcoin ETFs?

Interactive Brokers (IBKR) doesn’t offer traditional Spot Bitcoin ETFs. Instead, they provide access to Spot Bitcoin ETPs, which hold actual bitcoin and track its price directly. IBKR's commissions range from USD 0.0005 to USD 0.0035 per share, with optimized execution via IB SmartRoutingSM. 

Though IBKR labels these products as ETPs, they offer access to popular options, including ARK 21Shares and Bitwise. With low fees and advanced trading tools, IBKR remains a cost-effective way to invest in Bitcoin ETPs and broader crypto markets.

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Bottom Line

Interactive Brokers offers access to crypto trading and Bitcoin ETFs, but its limited selection and reliance on third-party services make it less ideal for serious crypto investors. 

With its wider range of cryptocurrencies and lower fees, Bybit is a stronger alternative for those seeking a more comprehensive crypto trading experience.