BTC has set another record by breaking the $58,000 mark. Even non-core media started talking about the first cryptocurrency again, which means that the number of people who want to figure out how to buy bitcoins on Hydra is increasing. The Cryptos.Team team offers to consider all available ways to buy cryptocurrency on the market - from the most profitable to the least secure. This will allow beginners to choose the best option. Learn more about cryptocurrencies at http://купитькриптовалюту.рф/.

4 Different Ways to Buy Cryptocurrency

When bitcoins first appeared in early 2009, they were almost unpopular. The currency was used by only a few enthusiasts, and its value was equal to zero. The first official exchange of BTC for fiat money took place in September 2009. Then a user under the pseudonym NewLibertyStandard sold  5050 BTC  to Marty Malmi for  $5.02.  The buyer transferred money via PayPal. Then, to evaluate the coins, they were guided by the cost of electricity. Today, users have many different ways to buy, and the price depends on market factors.

Cryptocurrency exchange

The first specialized platforms for trading digital assets began to appear in 2010. On the Bitcointalk forum, a user named dwdollar was the first to tell the community about the launch of a trading platform, which was called the Bitcoin Market. It did not last long, but laid the foundation for the development of the market. Today, users are given a choice of more than 100 specialized sites, among which are:

• Binance;
• Huobi;
• Coinbase;
• crack;
• Bitfinex;
• Excellency;
• Bithumb and others.

How to choose a cryptocurrency exchange

To find a suitable trading platform, you should pay attention to the following factors:

• Trading volumes.  There are more than 300 sites on the market, and many of them are unable to provide high liquidity, which means that the user will not be able to make a deal for a large amount. In addition, for trading platforms with a low trading volume, the asset price often differs markedly from the average market indicators. To check, you can use the CoinMarketCap service.
• Regulation.  It is necessary to take into account the place of registration of the company. Preference should be given to sites located in countries with reputable regulators. In this case, if there are problems with the cryptocurrency platform, it is more likely to receive compensation.
• trading pairs.  Before creating an account, you should check if there is a suitable currency, such as dollars and euros. Fiat support makes it easy to buy digital assets.
• Tools.  Beginners can ignore the instruments - to make the first deals, it is enough to use a market or limit order. However, if the user plans to make money in the future by trading cryptocurrency, then preference should be given to sites with advanced functionality - margin trading, staking and other tools.
• Commission.  Trading platforms usually withhold 0.1-0.2% for transactions. High commissions are encountered for depositing and withdrawing money in fiat currencies. Before making a deposit, carefully read the terms and conditions and compare them with other offers on the market.

Instruction for the exchange

Trading platforms may differ markedly from each other in terms of interface, but they work on the same principles. Each trading platform provides orders - applications for the purchase and sale of digital assets. The user only needs to make a deal once to figure out how digital assets are bought. A brief guide will help you take the first steps:

1. We go to the official site of the site.
2. We pass the registration - this will require an email or phone number.
3. We verify the account - almost all trading platforms that support fiat currencies require you to confirm your passport data. Usually, it is enough to upload a scan / photo of the passport and a document that confirms the place of residence.
4. We replenish the account - for entering fiat, companies provide several payment systems to choose from. In most cases, money is credited instantly.
5. After successful account replenishment, go to the "Trade" section.
6. We find a suitable pair, for example, USD/BTC.
7. We create an order. When choosing a market order, the user will purchase a coin at the current value. A limit order allows you to create an order to conclude a deal at your own rate.
8. After the order is executed, the coin will be instantly credited to the user's exchange wallet and it can be withdrawn.

Advantages of cryptocurrency exchanges

If we compare trading platforms with other ways to buy digital assets, we can highlight a number of advantages:

• Liquidity.  Trading platforms act as the main providers of liquidity. For example, Binance's daily volume in 2021 exceeds $24 billion.
• Transaction speed.  Marketplace software allows you to instantly buy and sell coins in huge quantities. A transaction at the market rate on the exchange will take the user up to  30 seconds , while the purchase of digital assets in other ways can take several hours.
• Reliability.  Large trading platforms have been operating for more than a year. The presence of large volumes only confirms the trust of thousands of users of a particular company.

Disadvantages of cryptocurrency exchanges

To get the maximum benefit from cryptocurrency trading, you should not forget about the disadvantages that are inherent in most exchanges. Among the minuses are usually distinguished:

• Commissions for input and output. On some trading platforms, up to 5%  is withheld for fiat withdrawals  . Before withdrawing, you need to carefully read the conditions, otherwise the user will give up an impressive part of the funds.
• Verification.  Due to identity confirmation, the user loses one of the main advantages of coins - anonymity. You can prefer decentralized exchanges, but they do not support fiat.
• Complex interface.  For beginners, at first it will be quite difficult to figure out all the functionality of the trading platform. It is advisable to give preference to exchanges with a Russian interface.

exchanger

The network has a fairly large number of exchange offices. Many of them appeared even before the creation of the first coin. Initially, exchangers offered a quick conversion of funds between different electronic wallets. Later, as the popularity of digital assets grew, the range of supported currencies began to gradually expand.

How to choose an exchanger

As in the case of exchanges, exchangers do not differ much from each other in terms of how they work. However, users should pay attention to a number of factors in order to make transactions quickly and safely. BestChange exchanger monitoring will help you find a reliable service. The site administration assures that it adds only verified exchangers. However, we recommend that you pay attention to the following points:

• Well.  Each exchanger sets its own quotes for currency conversion. The difference turns out to be quite significant. It will not be superfluous to compare the exchange rate with the average market indicators.
• Reserve.  This option displays the available amount to exchange. Unlike exchanges, exchangers cannot boast of a liquidity of several billion.
• Transaction limits.  Exchange offices often set a minimum threshold.
• Reviews.  On BestChange you can read reviews about each service.

Instructions for the exchanger

For beginners, using an exchanger is much easier than using a cryptocurrency exchange. Firstly, there are a lot of Russian-language services on the network that are focused on Runet users. Secondly, their interface is simpler and not overloaded with additional tools. A simple instruction will help you get the necessary idea about buying cryptocurrency through an exchanger:

1. Go to the BestChange website.
2. Choose which coin you want to receive.
3. The payment system and the currency that we give away.
4. Choose the most suitable service from the list of exchangers.
5. When placing an application, first indicate the amount of exchange and details. By this time, the user should have a cryptocurrency wallet where he will store the purchased coins.
6. We pay for the application.
7. We are waiting for the transfer of funds - usually the exchange takes  from 20 to 60 minutes .

Advantages of exchangers

Exchange offices have their advantages over exchanges and other ways to buy cryptocurrency. Among the advantages are:

• Anonymity.  Exchangers usually allow you to conduct transactions without registration and identity verification. This allows you to remain anonymous.
• No additional fees.  All commissions of the exchanger are already included directly in the exchange rate. The user does not have to pay money for depositing and withdrawing funds, as is the case with trading platforms.
• Simple interface.  To buy a coin for the first time through an exchanger, the user needs to perform fewer actions, which simplifies the task.

Disadvantages of exchangers

However, exchange offices cannot be called the best option for the regular exchange of digital assets. Among the minuses of exchangers:

• Liquidity.  The reserves of most exchange offices are significantly lower than those of exchanges. Because of this, exchangers are usually not used to conclude large transactions.
• Available coins.  Popular exchanges support hundreds of different coins. Exchange offices concentrate only on major cryptocurrencies.
• Transaction speed.  If the exchange allows you to convert instantly, then the same process through the exchanger may be delayed. First, the service must check the receipt of funds and only then transfer the coin to the user.

P2P platform

The digital asset market is not limited to exchanges and exchangers. On the network, users can exchange assets without intermediaries, transferring money directly to each other. P2P services are somewhat inferior in popularity to other exchange methods, however, they have their own characteristics, due to which users still prefer them.

Choosing a P2P platform

There are not many popular P2P services on the network that are focused on the exchange of digital assets. Usually, when choosing, they pay attention to the number of supported currencies, available payment systems, the volume of applications, and so on. There are only three services in Runet that deserve attention:

• LocalBitcoins;
• P2P.Binance;
• Bitzlato.

Instructions for P2P platform

To buy cryptocurrency through a P2P service, the user needs to follow these steps:

1. We go to the official website of the P2P platform.
2. We are registering.
3. Select the coin you want to buy.
4. Specify the currency that we give.
5. Specify the payment method.
6. Select the appropriate application from the drop-down list.
7. We read the terms of the deal.
8. Enter the amount you want to buy and details.
9. We send the necessary amount to the seller's account.
10. We confirm the transfer on the P2P service website.
11. We are waiting for a transfer from the seller.

Benefits of P2P services

Unlike cryptocurrency exchanges and exchangers, there are not many P2P platforms operating on the network. This is due to low popularity among users, which is due to the insignificant advantages of such an exchange. Typically, the benefits include:

• Anonymity.  To pay for applications, the user can use the cards of friends and relatives. Sellers usually do not verify contact details. However, the platforms themselves may require verification.
• No additional fees.  Transfers are made between the buyer and the seller directly, which avoids the commission of the exchange for depositing and withdrawing funds.

Disadvantages of P2P Services

P2P services have much more impressive minuses than pluses. Among the shortcomings are usually noted:

• Transaction speed.  The exchange of digital assets through a P2P service can take  from several hours to one day . Sellers often do not have specialized software to automatically fulfill their obligations. They check all payments manually and only after that they transfer the cryptocurrency to the recipient.
• Liquidity.  Reserves of private sellers are usually significantly lower than those of exchangers. P2P is suitable mainly for small and medium transactions.
• Reliability.  The P2P platform reserves the seller's amount to guarantee the fulfillment of obligations. However, the security of transactions remains in question. For example, there are a lot of scammers with cunning schemes on LocalBitcoins.

ATM

Popularity is gaining bitcoin machines that allow you to buy coins for cash. Today, such terminals can be found in 70 countries around the world. According to Coin ATM Radar, more than 16,000 such ATMs are currently operating. 

Instructions for ATM

If the user wants to purchase cryptocurrency for cash through the terminal, he needs to do the following:

1. Go to the Coin ATM Radar website.
2. Find the nearest vending machine.
3. Read the details - the description provides information about supported cryptocurrencies, fiat, fees, and so on.
4. Get to the right machine.
5. Click on the "Buy BTC" button.
6. Specify the amount the user wants to buy.
7. Enter your address or fund a new paper wallet.
8. Enter the specified amount.
9. Complete the operation - the equivalent amount in bitcoins will fall into the wallet. Be sure to save the receipt until the transfer is confirmed on the blockchain.

Benefits of Bitcoin ATM

The first bitcoin machine appeared back in 2013 in Vancouver. Since then, other manufacturers of such terminals have appeared, and their total number in the world continues to increase. The growth in popularity is associated with the following benefits:

• Anonymity.  The user does not need to enter personal information to buy digital assets. Cash is also untraceable. However, such terminals often have a hidden camera that can capture the buyer's face and link it to a specific wallet. Also, at the request of the regulators, the seller can provide all the data on the transactions performed.
• Simplicity.  With the help of such a terminal, you can quickly make a payment to someone else's bitcoin address.

Disadvantages of ATM

Despite the convenience, such terminals have their drawbacks, due to which they are less in demand than exchanges and exchangers. Among the disadvantages:

• Remoteness.  Not every buyer is willing to take the time to get to the terminal. In the era of digital payments, it is much easier and faster to conduct exchanges over the Internet.
• Commission.  The seller spends money on acquiring a terminal and renting it at a point of sale. Due to the presence of such costs, you have to set a high commission. It may not be displayed in the terminal, but it will be in quotes.

Conclusion

• For constant trading, cryptocurrency trading platforms are best suited. They provide the best rate. However, P2P services or exchangers are more suitable for one-time transactions. They allow you to avoid commission for input and output.
• Before the exchange, it will be useful to compare rates at different sites. The situation on the market is constantly changing, so buyers should adapt and look for where the quotes are more profitable.
• Don't forget about safety. If someone steals a coin during an exchange, it will be almost impossible to get it back.