How and Where to Buy Bitcoin:
Detailed Instruction from Safetrading
Every day we see the fluctuations of Bitcoin and these changes bring more and more users who want to trade.
And I am sure you are thinking about joining this profitable crypto game and want to know where it is possible to purchase Bitcoins!
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 on the exchange;
- 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.
To trade on the exchange, you need to open the account and to deposit it: some exchanges give the opportunity to deposit with the credit card, and some of them accept only crypto.
For example, Binance allows traders to buy Bitcoin with the help of a credit card. Yes, to buy, but not to sell. Fees are average - 2,5% if you buy crypto with VISA or MasterCard.
Then, Coinbase allows you to sell Bitcoin with PayPal. Again, you can’t deposit your assets to the account using PayPal, but you can withdraw them with PayPal.
What about Bitcoin ATMs?
Those devices are rather new that is why they are present not in every city of the world.
If you want to buy Bitcoin with the help of an ATM, you will need to know if you can find it nearby.
You are lucky! Here is the map
that shows all the ATMs near you.
If you managed to find it, you would need to know that they are quite easy to use - they are like usual cash machines. The only thing that I don’t like about them - fees.
If you want to buy Bitcoin for $100, the ATM can take up to 10% of fees. So, if you want to invest $10,000, you can pay up to $1,000 as fees.
What Should You Remember?
Today we tried to explain to you where to buy Bitcoin online and described all the possible ways to do this.
Now you know that the first step you will need to do if you want to buy Bitcoin easy is to find the best crypto wallet.
You need to store all the passwords, seed phrases, and private keys of the wallet in a safe place.
If you lose your private keys, you will not be able to restore them!
After this step, you will need to find the best place to buy Bitcoin and to choose whether you want to buy Bitcoin online with the help of cryptocurrency exchange or with the exchanging service.
If you want to buy Bitcoin with the help of exchanging services, you will better check all the fees of this service because sometimes they change 5%, 10% or even 20% of the total sum.
You can’t avoid fees.
With the exchanging services or with cryptocurrency exchanges you will need to pay something for your transactions but crypto exchanges are definitely better.
By the way, after you make the deposit, you will be able to start trading. To get profits from crypto trading you can use crypto signals
I hope you will find the best place to buy Bitcoin and will be one of these traders who earn money with crypto!