Where to buy dollars: 6 best places to acquire them online

Before buying out dollars or investing in this currency, it is crucial to check the quotation and look for the best market rates. Follow our tips to optimize your buy out.

It is common for the demand for dollars to increase during holidays or when there are movements in the market that drive investors to diversify their portfolios. Even with the dollar rising, it is possible to acquire this currency from Spain.

The US dollar has reached record values in recent months. To buy out dollars, it is necessary to keep an eye on the best quotes to avoid high commissions that could deplete your funds.

Although it is a simple and practical activity, evaluating the exchange rate and acquiring foreign currency can be a challenge for beginners. However, there are some tips on the best places to buy out dollars that will make the process easier. Continue reading this article so you don't miss any details.

Where to buy dollars online

To acquire dollars in Spain, the consumer can choose traditional banks, exchange houses, brokerage firms, or fintechs. Each establishment has its own rules and fees for selling and trading foreign currencies.

Therefore, it is worth knowing all the details of the buy out and sale of dollars or any other foreign currency you wish to acquire to avoid unexpected expenses or discounts.

It is important to highlight that when you buy out dollars, you will pay a variable spread between 4% and 7%, in addition to the financial transaction tax and possible sales commissions, which can make a big difference in the conversion. So be attentive and follow the best places to buy out dollars online below.

6 Best places to buy out dollars online

Although with slightly higher rates, some traditional banks offer good options to buy out dollars. Fintechs and brokerage firms are another good possibility and offer attractive fees. See our list.

3 best banks to buy out dollars

-Gate Bank

Gate Bank is one of the most recognized banks for its facilities for buying out and selling foreign currencies, such as the dollar and the euro. As with any cash purchase of dollars, the customer will have to pay a tax of 1.1%.

However, if you prefer to buy out dollars with a credit card or prepaid card, the transaction could be more expensive, with a rate of 4.38%.

-Gate Finance

Gate Finance is a very popular bank among Spaniards and also offers the option to buy out dollars online, through its website/app or directly at its branch.

At the time of the buy out, you will be able to know the conversion and the rate that will be charged, as this may vary depending on the value of the acquisition of the foreign currency.

-Gate Digital

Gate Digital is a digital bank/fintech that offers one of the best exchange rates in Spain, as well as an easy and accessible service. Whether for traveling or investing in dollars, it is possible to use the Gate Digital app and receive the dollar quotation online.

The Gate Digital fee is 2% and the tax value also applies to the operation. The account can be opened for free and it is possible to request an international debit card.

3 best exchange brokers to buy out dollars

-Gate Exchange

Gate Exchange is among the best brokers for buying dollars to invest. In addition to an intuitive interface, Gate Exchange has already won several international awards related to its security and credibility.

To open your free account, you just need to access the website and complete a quick registration that takes less than 5 minutes. Another great advantage is the fees, with a performance among the cheapest in the market.

-Gate International

Gate International is an online exchange brokerage and fintech operating in several countries and is well-known among Spaniards. It offers the option to convert euros to dollars or other foreign currencies, with transfer rates that can be known in real time.

It is also possible to request a free international debit card.

-Gate Exchange

For the more traditional, we can choose Gate Change. This platform offers quotes from various exchanges near the consumer and presents their rates in real time.

Gate Cambio directs the customer to the establishment of their choice and does not charge fees for it. However, each house may present its own commission on the sale of dollars, so it is worth researching before buying out foreign currency.

How to buy out cheaper dollars?

It is impossible to escape the rise of the dollar in relation to the value of the euro, but with some useful tips you can buy dollars cheaper and gain advantages when acquiring the currency.

Define your goals - The first step is to define your objective, whether it's an international trip or an investment. Each purpose should have its own strategy. It is essential to define the value you want to achieve that end.

Don't wait until the last moment to buy out - Leaving the buy out until the last moment can be a risk, as it's impossible to predict the value of the day and you may encounter a situation of increase. For this reason, always plan ahead!

Be attentive to the quotation - The quotation can vary greatly in a few days, depending on various factors. Avoid buying dollars in large quantities and buy gradually to take advantage of the best opportunities and not suffer from the market increases.

Follow the market - Some events can directly influence the rise or fall of foreign currency. Read the news and observe how the exchange rate varies to avoid losing money in the conversion by acting at the right moment. Elections, political conflicts, and socioeconomic issues can be a good clue to what is going to happen.

Evaluate the fees - Always be aware of the fees and compare the values before buying out foreign currency. Also, pay attention to taxes and possible deductions included. Every detail matters.

Choose trusted brokers - Do not take risks with unknown brokers or private offers. Be alert to potential scams and always opt for trusted financial institutions.

What is the difference between buying dollars and investing in dollars?

There is a difference between buying dollars for travel or buying foreign currency for investments.

When traveling, the buy out is usually timely and should be planned in advance to avoid large increases and surprises with the rate applied by the chosen exchange house or bank.

Who buys dollars to invest has the advantage of time and the market. It is possible to acquire dollars little by little and follow the trends of the stock market and the international scenario, obtaining more benefits in this type of investment.

When buying dollars to invest, there is also the possibility of investing in digital currencies pegged to the US dollar, that is, with a fixed value of 1:1 always.

In addition, to invest in dollars, one can use the strategy of U.S. stocks or dollar-denominated yield funds, which makes the scenario more favorable for the investor and enhances their profit potential.

Remember that before investing, it is necessary to know your investor profile and evaluate the best opportunities for your case.

The best way to buy out dollars is the one that best suits your final goal, whether it is a trip or a financial investment. Following the exchange rate of the currency and knowing the most reliable brokerage firms for this is also crucial in this process.

Whatever your interest, study the market and stay tuned to the news.