Since 2009 that Bitcoin published and introduced to the public, cryptocurrency market attracted a lot of people and it’s raising its popularity. Perhaps you are one of the them who are curious about it and have a plan to join the market. Its notable that cryptocurrency market is volatile and investing in this market is risky. It’s highly recommended to study the basics and get enough knowledge on this technology before you take any action to enter the market. Perhaps it’s your question that how to buy Bitcoin?
The first question comes to mind is that how can I buy Bitcoin? Or what are the first steps to join cryptocurrency market? Generally, the most two common ways to buy Bitcoin is finding an individual who own Bitcoin or find trustworthy cryptocurrency exchange and buy Bitcoin from. In this article we are going to explain the first steps to join crypto market for beginners and talk about the ways you can buy Bitcoin.
First of all, you need a wallet to store your Bitcoins in. A Bitcoin wallet is a software or program where Bitcoins are stored or you can send or receive Bitcoins by. Wallets range in terms of the features they provide, level of security and the platforms they can be used on. So, it’s important to use a popular wallet with good reputation. Bitcoin wallet comes in varies forms such as desktop, mobile, web, and hardware.
Wallebi provides wallet services for varies cryptocurrencies. You can store, trade and exchange cryptocurrencies. Simply download the app or create an account on Wallebi website.
Bitcoin ATMs are getting popular in recent years. They are much like the traditional ATM that dispenses fiat currencies where you use your debit card to withdraw USD, EUR, etc. By using Bitcoin ATMs, you can just insert cash into the machine or either scan your mobile wallet QR code and buy Bitcoin with. Once your purchase is done it gets transfer to your bitcoin wallet.
A notable aspect of these ATMs is that it allows you to buy/sell bitcoins anonymously. No KYC (Know Your Customer) is required to transact using a Bitcoin ATM. So, it would be a good way to secure your identity and privacy.
How to buy Bitcoin?; Marketplace (P2P exchanges)
Marketplace is where you can find some individuals who own Bitcoin and are willing to sell it. You can find them in forums or websites which are active in cryptocurrency field or join to one of marketplace (P2P exchanges) websites. P2P cryptocurrency exchanges enable you to keep transactions anonymously. In this way you need to trust individuals and transfer your money to them to receive your Bitcoin. Sometimes it’s not easy to find a right person who gives a reasonable price and also has the amount of Bitcoin you are willing to buy. Furthermore, it’s hard to trust individuals and transfer money to their account.
How to buy Bitcoin?; Cryptocurrency Exchanges
The other way to buy Bitcoin is to use cryptocurrency exchanges services. By using exchanges, you get connected to the bitcoin marketplace directly and you can exchange fiat currencies to Bitcoin. There are varies exchanges out there and each provides services for different cryptocurrencies. It’s important that the exchange should be regulated by the government and meet KYC (Know Your Customer) and anti-money laundering requirements.
First you need to find a trustworthy exchange and create an account on their website. Exchanges are varied in security levels, buying limits, fees, verification requirements and payment options that they accept. So, before start to work with them, consider about the features and options to have a better decision.
Besides trading, most exchanges offer Bitcoin wallet services, with Wallebi you can buy, sell, store and exchange Bitcoin, Ethereum, Litecoin, Tether and many other cryptos & ERC20 tokens. Simply create an account on Wallebi website and verify your account by uploading your documents.
Wallebi supports payments via Visa, Mastercard, PayPal, Payoneer, Skrill and over 20 other popular payment methods.