If you are someone keen to start trading in Bitcoins, it is necessary to know how to go about it. Some people may find the whole exercise quite daunting but it is not really so hard. There are many easy and secure ways to purchase Bitcoins from different reliable sources. You need to see which platform is best suited for you and then get started.
5 easy and safe ways to buy Bitcoins:
- In-person: It is possible to buy Bitcoins face-to-face directly. This involves direct transactions between buyers and sellers. It could be someone who you know personally, someone in your neighborhood, or even someone you have met during Bitcoin meet-ups. One such secure and trustworthy platform is LocalBitcoins where you can easily connect with many crypto traders. However, to trade personally, there are some key precautions that must be taken so that your money stays secure. Automated bitcoin trading apps are lessening the effort and time of trading. Go through this bitcoin superstar erfahrungen to know how they effectively execute the trade.
- Credit cards: You can obviously buy Bitcoins securely using credit cards. When you click on the “Buy” button on the site you will be asked to provide your Bitcoin wallet address. When you do not yet have a wallet, you can use the instructions provided to download one.
- Peer-to-Peer Platform: P2P platforms are places where you can connect with sellers directly. Buyers are free to choose from a variety of payment modes like bank transfers, PayPal, or paying cash in-person. It is even possible to get crypto by trading goods on sites like LocalBitcoins. Every user will offer different rates and different products which is why you must only choose sellers who are of solid repute and known to charge fair rates. While some websites will deal exclusively with BCH or Bitcoin Cash, there are many platforms that offer similar services for people keen to buy BTC. To use such platforms, you may have to provide identification; for instance, local.bitcoin.com demands only email address making it highly private. Other platforms may ask for more details from customers because of their KYC and AML policies.
- Bitcoin ATMs: These are now widespread and they are rather handy when it comes to buying crypto coins. Because of the regulations involved this platform may not be as private as the other direct transaction methods but it is better for those willing to share their personal information. The machines are found in multiple locations making them very useful when you must buy crypto coins in a hurry. You can use sites like CoinATMRadar to identify Bitcoin ATMs in your vicinity.
- Buy from Exchanges: It is possible to buy Bitcoins from any reputed cryptocurrency exchange using your bank account or credit card. Such exchanges are also likely to have specific KYC and AML or anti money-laundering policies. Experienced as well as novice Brits are using this app to profit from Bitcoin. Fees and offers may vary from one exchange to another. It is best to do some research before you sign up on one. The more popular exchanges for Bitcoins are Binance, Kraken, and Coinbase. The downside to buying Bitcoins from exchanges is that if your coins are stored here and the exchange gets hacked, you can lose your funds.