Buy Cryptocurrency
If you’ve had the opportunity to learn about cryptocurrencies and are wondering how to buy Bitcoin or other currencies, this guide will let you know exactly how to go about it. Over the years, access to cryptocurrencies has become democratized with crypto sites that offer everything, right down to the online wallet, in one place. Today, you can buy these assets like almost any traditional asset (stocks, structured products, etc.).
What is the best site to buy cryptocurrency?
You can find several online platforms and sites specializing in selling and buying cryptocurrencies. But beware: not all sites are equal! Before undertaking any transaction, make sure of the seriousness and security of the platform you are on. Also, find out what rates the said platform charges. Indeed, cryptocurrency purchases are not without costs: they count from 2 % to 10 % of fees.
You should generally choose to trade on the most popular sites, as they are known for their reliability. For example, it’s best to go with the most intuitive and accessible sites like eToro or Coinhouse if you’re a crypto novice! More experienced investors can turn to platforms such as Kraken or Binance.
The best method to buy cryptocurrencies
First and foremost, join the cryptocurrency exchange platform that you choose. We advise you to find a platform where you can withdraw your cryptocurrencies to store them in your wallet. You can compare cryptocurrency platforms and learn about their different fees. Platforms will ask you for documents like your ID card to identify yourself so you can sign up.
Once the platform confirms your identity, you can deposit money into your account. You choose to either deposit money by bank transfer or by credit card. We strongly recommend you deposit by bank transfer as it is much cheaper. In your application, now that you have money, you will have access to a large number of cryptocurrencies, including Bitcoin (BTC) or Ethereum (ETH).
Again, remember, do not invest more money than you are comfortable with. It’s not uncommon to see impressive, if not alarming, fluctuations. You may find that your portfolio’s value is divided (or multiplied) by 2 in one night. This is a very volatile market. If you are not willing to lose money, we strongly advise against cryptocurrencies. Now that you are the proud owner of a cryptocurrency wallet, you can buy more or resell them.
The cheapest way to buy cryptocurrencies
Indeed, each site’s prices change from one to another, and each site has its own fees. Experienced investors are well aware of this, and therefore they do not “stick” to one particular crypto site or platform. Instead, they prefer to sign up with several, compare quotes before each transaction and close it where it suits them best.
They always manage to buy at the lowest possible price and sell at the highest possible price. And the interesting thing is that to achieve this, it is not necessary to waste time visiting dozens of sites one by one: there are those who do it for you. Although many do not know it, there are websites that continuously conduct surveys of cryptocurrency prices and make the results available to investors in real-time and for free.
By accessing these comparators, at a glance, you can identify in a ranking which platforms are allowing you to buy or sell at the best price at that moment. Another advantage is that you can compare the final prices on these sites, i.e., the prices that the user actually gets, after adding the commissions charged by the intermediaries. Below are the three most used comparison sites:
· CoinMonitor.info
· CriptoYa.com
· Bitcoinario.com
Buy cryptocurrencies via credit card.
Paying for cryptocurrencies by credit card has some definite advantages, especially if you are just starting out in the crypto-ecosystem and want to get your first cryptos. It’s definitely the easiest way to buy bitcoin or any other currency, as it’s ultimately the same process as buying almost any e-commerce product.
Buying cryptocurrencies by credit card has the advantage of being easy but also fast: as soon as you buy, the cryptos are received almost immediately. The transaction is secure, especially if your bank uses 3D-Secure payment, which involves verifying your identity.
Best site to buy cryptocurrency with a credit card
Moonpay was established by 2 young entrepreneurs in 2019. Nowadays, this company is among the most well-known and used in the sector. Indeed, it is used by many centralized exchanges, such as Bybit or Ascendex, for the deposit of fiat currencies by credit card. This company also offers a solution to buy bitcoins (BTC) and other cryptocurrencies by credit card from its own website.
With Moonpay, the purchases of cryptos by credit card are usually fast. The transaction is sent immediately. You then receive your bitcoins (BTC) or other cryptocurrencies once your KYC verification is done. Usually, it takes no more than 20 minutes. KYC (know your customer) is imposed on fiat/crypto buying and trading platforms by regulators. Indeed, this procedure allows fighting against fraud, tax evasion, and money laundering.
How to buy cryptocurrencies in a safe way?
Following the accelerated and, perhaps for some, disproportionate growth of the cryptocurrency market, investors’ main and most recurring question is: how to buy cryptocurrencies safely? To do this, it is advisable to find out which are the safest platforms out there. As mentioned earlier, many sites have been on the market for years and have proven to be safe enough to exchange and leave some of our bitcoins, offering guarantees, trust, and advice in case of a dispute. Once the wallet is chosen, it is necessary to make an initial transfer to have funds in the account.
These payments are usually made by bank transfer, although there are also other options like PayPal or credit cards, among others. Then you can proceed to purchase bitcoins. You search the platform for the offer that best suits your needs. You may be presented with several options before you find the one that best suits your interests. To enhance security and avoid scams, it is necessary to check the history of the user you are going to trade with to make sure they are trustworthy and experienced. This way, you guarantee the success of the transaction.
Can I buy cryptocurrencies without fees?
It is difficult but not impossible. Analyzing the different market options, we realize that both cryptocurrency platforms and blockchains both carry fees that are impossible to avoid 100%. However, they can be reduced or completely covered by doing things correctly. We mean that you have to know how to wait for the best moment, both in the average price of Bitcoin -to buy cheaper and in the market offers in P2P trading platforms such as Localbitcoins, Binance P2P, or Paxful.
Since you usually see offers with prices below the market price, although they are usually a bit high amounts, it can be said that they are accessible. This trading strategy consists of buying in bulk to get a cheap price. Another good option is to trade directly with people you know, friends or relatives, who are willing to trade at market price and who have a wallet in the same exchange, such as Binance, whose internal transfers are completely free of fees.
