Millions of people buy cryptocurrency each day for different purposes. Many of these buyers are conversant with the safe and easy ways to buy Bitcoin. But for greenhorns, it may not be easy to know and choose a safe and easy mode of purchasing Bitcoin. If you are new to the crypto world, let’s examine ways to buy Bitcoin safely and easily online and physically.
Face to Face Purchase
Face-to-face purchase is one of the best ways to buy Bitcoin or any other cryptocurrency. It could be a transaction with a friend, family, or any trusted individual. Face to face means you get to meet the seller in person. You can arrange to meet up to do a transaction at any place decided by both parties. You may also contact someone from a crypto group who lives within your vicinity. If you don’t know such an individual, choose a neutral and open place to carry out the exchange. It could be a coffee shop or a popular location. Remember to be discreet with money, and don’t hesitate to take your leave if anything feels off.
Peer to Peer Transaction
Peer to peer popularly known as P2P is another safe and easy to purchase Bitcoin. The P2P option is possible on trading or exchange platforms. As a buyer on a trading platform, there are sellers you can transact with. These sellers often have different rates for you to choose from. You can pick a rate that suits you and proceed to buy your Bitcoin– easy and smooth. If you are concerned about how safe this method is, then you should know that many trading or exchange platforms enact measures that regulate all P2P transactions. Every seller and buyer is adequately scrutinized and required to submit specific details to verify their identity. Further anti-money laundering (AML) policies are also required on some platforms to ensure a secure transaction.
A credit card is a straightforward way to buy Bitcoin on many crypto platforms. Using Visa, Mastercard, and some types of credit or debit cards, you can buy Bitcoin. Simply input the required details and make a purchase. It is similar to shopping online with a credit card. In some cases, the crypto platform you buy from may ask you to create a wallet address. You can sometimes use an existing wallet address to complete a credit card purchase. A credit card is not a popular method of purchasing Bitcoin among experts because there may be extra fees. The card issuer may charge additional costs that you would not pay if you use P2P or face-to-face purchase. Visit here to buy bitcoin or any other crypto currency.
Over 25,000 Bitcoin automated teller machines are available in several regions of the world. They work like a fiat ATM, albeit you can only transact cryptocurrency on them. You can purchase Bitcoin at any of these machines. You can buy bitcoin in Montreal at any of these machines. Bitcoin sales are also possible using Bitcoin machines. The only limitation is if you reside in a region where Bitcoin ATMs are not available.
Payment Portals across the world have embraced cryptocurrency. Many allow users to buy, keep, and sell Bitcoin. Portals like cash apps have sections dedicated to crypto transactions.
Some investment brokerage firms also allow cryptocurrency transactions added to their usual stocks deals. Any of these avenues can help you buy Bitcoin and other altcoins easily and safely.
What to Keep in Mind Before Buying Bitcoin
Whatever means you intend to use to buy Bitcoin, do proper research. Ensure there are no hidden charges before you use it. While P2P and face-face transactions come at no cost, other payment modes have varying fees. For example, some trading platforms charge based on the volume of bitcoin, while many credit cards have fixed fees.
The authenticity of a transaction mode is another reason why research is important before purchase. Not all trading platforms are reputable. Check trustworthy sources to get well-rated exchanges to make your purchase.
Some things to look for in an exchange are security, fees, and insurance. So, check for its storage location( online or offline) and what percentage is stored offline. Is the exchange insured against fraud or theft? Also, ensure the trading platform operates in your region. For example, some cryptocurrency agencies can not operate in some areas due to governmental restrictions.
If you are new to the crypto community, you may want to follow the steps discussed above to buy Bitcoin safely and easily. Remember, you can use face to face methods, peer to peer, trading exchange, credit card, or Bitcoin ATM to buy Bitcoin online or physically. Regardless of the mode you choose to use, always carry out the necessary checks to avoid loss. All these processes apply not to Bitcoin alone. You can imbibe them when purchasing other types of cryptocurrency.