11 Nov How to buy bitcoin?
One can endlessly say how important cryptocurrencies are in the modern world, about their capabilities, and so on. But, since you are reading this material, then you know about Bitcoin in general terms, its advantages, and features. If you want to know how to buy bitcoin online, then this material with detailed instructions is for you!
Choosing a Bitcoin Wallet
To find an answer to the question of how to buy bitcoin, you need to know that you need a wallet to store cryptocurrency. The easiest and fastest way is to install the wallet on your computer or mobile phone or register an account online. It is fast and straightforward. There are a lot of different high-quality wallets. You can transfer the purchased cryptocurrency at any time to any other wallet.
The safest option today is hardware wallets since they are almost impossible to crack. It happens because cryptocurrency is stored autonomously on a separate device that is not connected to the Internet.
Many users are interested in whether it is possible to buy part of bitcoin. Please note that you can buy cryptocurrencies for any amount. It is absolutely not necessary to buy one bitcoin. You can always buy a smaller part of it. This means that you can buy half of bitcoin, a quarter of bitcoin, or even one-hundredth of bitcoin.
How to Fund Your Wallet
You can consider the following ways to buy bitcoin:
- • Exchange online services;
- • Cryptocurrency exchanges;
- • Terminals and ATMs;
- • Exchange with other people for fiat and gift vouchers.
Let’s consider each of these options separately.
There are specialized services on the Internet that exchange money for cryptocurrency online. There are more than 100 such exchangers. You can find them on specialized monitoring services, or use the proven services described below.
Directions for exchange can be different:
- • Online banking -> Bitcoin;
- • VISA, Mastercard -> Bitcoin;
- • Skrill, Paypal, Payza, Payoneer, and other services -> Bitcoin.
You can also easily purchase bitcoin for your national currency in local exchange services, which is very convenient and profitable because you will not lose money on currency conversions. There are even directions for exchanging cash for the cryptocurrency, which currently works in all major countries.
Payment Systems and Internet Banking
There is purchase available through all popular payment systems and online banking, as well as for other cryptocurrencies. The exchange, input, and output of bitcoins are carried out around the clock in automatic mode. You can store bitcoins in a reliable online wallet, access to which is provided by 3-factor authentication.
Buying Bitcoin on Trading Platforms
The benefit of trading platforms is that the course for Bitcoin is pure. The market supply forms it.
It is recommended to choose from the trading platforms:
- • Hedgespots is one of the few exchanges that supports Visa / MasterCard cards, which is very convenient for those who buy a cryptocurrency for the first time. Buying and selling Bitcoin on Hedgespots is fast, convenient, and safe.
- • Binance is by far the most popular exchange for trading. It has the lowest commissions and many other pleasant features, such as the lack of the necessary verification of personality, a high level of security, a huge selection of currencies, and an impressive trading volume. The main disadvantage is that the funds are deposited only in cryptocurrencies. There is an option to buy bitcoin using a bank card.
- • BitMart is a fast-growing young exchange with millions of trading volumes. The commission for the transaction is 0.05%. However, it supports depositing funds in cryptocurrencies only.
- • Livecoin is a young exchange with good conditions for traders. It differs in low fees (0.18%) per transaction. A decent number of options to deposit are available.
The advantages of the exchange include the fact that you have the opportunity to work with a flexible rate. The cost of BTC fluctuates, so there is a chance to conclude a deal on the best conditions. However, there is a chance that conditions may worsen.
If you need to buy a Bitcoin quickly, then work at the market price. Usually, it is automatically indicated in order cells. The most famous cryptocurrency exchange tracking service is Coinmarketcap. It contains information on the trading volume on each site, as well as on the current rate.
When buying, it is better to focus on exchanges with the lowest exchange rate. After all, we can get BTC at the best price. When withdrawing to the wallet, only the network commission will be charged.
ATMs and Terminals
ATMs and terminals with the possibility of buying Bitcoin are not very common so far. But the situation is changing quite quickly. You can find the ATM list is on the CoinATMRadar website. Such devices are simple to operate. Just a few operations with the card and the ATM itself are enough, and the cryptocurrency will be credited to your wallet. Terminals work with banknotes.
Direct Transfers And Gift Cards
No one has canceled such an option as a direct purchase of Bitcoin. If you do this with your friend, then agree on a convenient payment method, as well as on the course. There are even specialized services for P2P exchanges, which we will talk about below.
Cryptolocator is a specialized P2P exchange platform where you can buy or sell Bitcoin directly without intermediaries and commissions. You can search for a suitable seller by a currency, country, or method of payment. Or you can create and publish your own proposal on your own terms.
Another cryptocurrency literacy lesson has come to an end. Now you know how to buy and sell bitcoin. There is nothing complicated in this. You just need a desire and means for a purchase. It’s up to you whether you should do it or not.