Today Safetrading is going to tell you where to buy Bitcoin online, how to buy Bitcoin with cash, what can you buy with Bitcoin, which pitfalls you should be aware of, and where to store Bitcoin after the purchase.
What Do You Need in the Beginning?
It is impossible to buy Bitcoin if you don’t have the Bitcoin wallet in which you will store it (unless you use the exchange that allows you to buy Bitcoins with credit card). You need to know that anyone can purchase Bitcoin - even if you don’t need to own the whole Bitcoin - you can buy it partially.
There are different types of such wallets - desktop, mobile, online, hardware, and paper wallets.
And now you have the question - which wallet is the best place to buy Bitcoin and how to buy Bitcoin anonymously?
You need to choose the wallet based on your needs and wishes because they are different and the level of safety is different as well. If you want to hold your crypto, you can use the hardware wallet - it is one of the safest.
And if you need the wallet to proceed transactions often, it is better to choose the mobile wallet. They are less safe than hardware or desktop ones but they are very convenient.
You Have the Best Bitcoin Wallet - What Is Next?
The next step is to choose the way of depositing.
There are some options:
You can ask your friend, acquaintance or stranger, to send you Bitcoins and to pay him according to the exchange rate;
To buy Bitcoin online with the help of online exchanging services;
Use the Bitcoin ATM.
As a rule, exchanging services set their own exchange rate of crypto and usually it is higher than the real one.
How to Choose the Exchanging Service?
There are such services that monitor the real rate of exchanges and offer you the list. Here you need to choose the parameters of exchange (for example you want to exchange USD to BTC) and find the most profitable rate.
Remember that you will always use the rate that is higher than the real one.
There are different online services like LocalBitcoins that offer you to buy or sell cryptocurrency with different payment methods - PayPal, wire transfer, credit card, cash, etc.
In the crypto field, there are a lot of doubtful services that is why you need to work only with trusted ones. If you chose the service and can’t find reviews or users’ feedback about it, you will better avoid this service.
Is It Better to Use Exchanges?
If you asked me this question, I would tell you that it is really better.
First, you need to understand how they work.
Secondly, there are a lot of different exchanges and some of them have restrictions for different countries like the USA or Iran, some of them have very strict conditions for verification.