As a result of the fact that trading in bitcoins and other cryptocurrencies has become quite a popular activity, a lot of cryptocurrency exchanges, P2P platforms and online exchangers have appeared where you can buy and sell digital money.
Ways to buy cryptocurrency
There are many ways to purchase cryptocurrency:
- Through a self-service terminal. This is the easiest way to buy bitcoins, since the user only needs to find a cryptocurrency terminal in his city. The operation of the device is very simple. The user needs to choose which cryptocurrency he wants to buy, enter the number of his electronic wallet and place the banknotes in a special hole on the panel. In a few seconds, the cryptocurrency will be transferred to the client's account.
- Exchange offices on the Internet. Online exchangers are convenient because network users can purchase cryptocurrency without leaving their homes. Such sites are designed as simply as possible and to buy digital money, the user only needs to indicate the number of the electronic wallet and bank card. The funds will be withdrawn from the bank account and converted into cryptocurrency at the current rate. One of the most popular online exchangers is Coin24.
- Cryptocurrency exchangers. In addition to sites where you can buy cryptocurrency online, there are also many land-based exchangers where you can exchange paper banknotes for digital money. Such points resemble ordinary exchange offices, where an employee exchanges funds. The difference is that by giving paper money, the client receives a cryptocurrency to his electronic account.
- P2P platform. These sites resemble a marketplace where many owners of digital money put them up for sale at a certain price. These platforms are ideal for such transactions, as they guarantee the safety of the funds of both parties. During the transaction, the platform blocks the money on the accounts of both users until it receives confirmation of the sale. After that, the cryptocurrency goes to the buyer's account, and the real money goes to the seller's account. The largest P2P platform is Bitcoin Global.
- Cryptocurrency exchange. This system resembles an exchange market where securities are traded. On the cryptocurrency exchange, the user puts up an offer to sell bitcoins and indicates a certain amount that he wants to gain in the transaction. Then the buyers put up their offers, where they indicate the amount for which they are ready to buy digital money.
Buying cryptocurrency through an intermediary is also one of the transaction options, however, it is the most unreliable. This scheme works like this:
- the buyer transfers money to the intermediary;
- the broker buys the cryptocurrency from the seller;
- the intermediary receives digital money to his wallet;
- the broker calculates interest and transfers the balance to the buyer's account.
Using this scheme, it is necessary to choose a trusted person as an intermediary, since the broker may turn out to be a scammer and keep the digital money for himself.