It is worth noting that cryptocurrency exchanges charge fees for their services, which may vary depending on the exchange and the type of transactions being made. You will want to investigate the fees and policies of any exchanges you are considering using, to ensure that they are reasonable and transparent.
So it’s no secret then that we’d recommend exchanges from which you can even buy bitcoins with debit card payments, along with other cryptos and fiats.
Picking a Cryptocurrency Exchange
There are a lot of exchanges out there, so it is important you do some research to find the ones that are trustworthy and fit your needs. Some of the popular exchanges include Coinbase, Binance, Kraken, and one which comes highly recommended, ChangeHero.
Creating an Account
Register for an account with an exchange, and take whatever verification steps are required. This typically involves providing some personal information and a form of identification.
Depositing Money
Most exchanges will let you deposit funds using either bank wire or a credit/debit card. The exchange will then credit your account with corresponding amounts in fiat currencies, like U.S. dollars.
Buying BTC
Once you have funded your account, you can buy BTC using an exchange site or trading platform.
You will have to provide how much BTC you wish to purchase and at what price. The exchange will then match you up with a seller willing to sell BTC for what you are willing to pay.
Holding Your BTC
Once you have completed your trade, BTC is transferred to your exchange account. You can then keep the BTC in your exchange account, or you can move it into your personal cryptocurrency wallet for safekeeping.
It is worth noting that cryptocurrency exchanges charge fees for their services, which may vary depending on the exchange and the type of transactions being made. You will want to investigate the fees and policies of any exchanges you are considering using, to ensure that they are reasonable and transparent.
P-2-P Marketplaces
P2P (peer-to-peer) markets are platforms that directly connect buyers and sellers, allowing them to buy and sell cryptocurrency to one another.
Choosing a P2P Marketplace
There are a number of P2P marketplaces out there, so it is important to do some research in order to find the ones that are reputable and that fit your needs. Some popular P2P marketplaces include LocalBitcoins and Paxful.
Create Account
Register for an account with the P2P marketplace, and perform any required verification steps. This might include providing some personal information and a form of identification.
Searching for sellers
Once logged in, you may want to search for sellers that are offering cryptocurrency that you would like to purchase. You can filter your search by payment method, location, and other criteria.
Place your Order
Once you find a merchant that fits your needs, you can place your order to purchase the cryptocurrency. You will have to indicate how much you want to buy and at what price.
Completing Payment
The seller will give instructions for completing the payment. This could include wiring funds to a bank account, using a payment app, paying for the bitcoins with debit card payment, or even conducting the transaction in person.
Getting cryptocurrency
Once payment has been made and confirmed, the merchant transfers cryptocurrency to your wallet. Make sure you verify twice that you received the cryptocurrency before you release payment to the seller.
It is worth noting that P2P markets do not provide as much security as a traditional exchange. Make sure you perform your due diligence before buying from a merchant, and use only established, reputable merchants to minimize your risk of scams.
