Where To Buy Crypto
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#1) Identify a Bitcoin trading platform: The first step starts with identifying the best Bitcoin trading platform with which you can open an account or wallet to keep Bitcoins. It is recommended to open a wallet with a trading platform because then you do not have to own multiple wallets or accounts and keep sending the Bitcoins from one place to another.
Please look at our review below of the best places to buy Bitcoin and create a wallet with those platforms. With most platforms, creating an account is synonymous with creating a wallet. Check from your account features if the wallet is provided after sign up. It should be in most cases. If it is so, all you need is to generate a wallet address where you can send the Bitcoins after buying.
#2) Creating a Bitcoin wallet: In case you need to create a wallet address separate from the trading platforms, for instance, with a hardware device, there is a detailed guideline on the best Bitcoin wallets including hardware wallets you can use. Most of the wallets are software on platforms where you need to create an account and own a wallet. Otherwise, if it is a hardware wallet, simply buy it and proceed with setup.
If provided by the platform, remember to back up your wallet, write and save the recovery passphrase, or save the private keys offline. This ensures you can restore the wallet in case something happens with the account.
#3) Connect fiat source: We assume you want to buy BTC with your local currency such as USD or Euro. For those who ask for how to purchase Bitcoin with other local currencies and locally available payment methods, peer-to-peer platforms like Bisq and Paxful will be helpful.
The platforms we have reviewed below allow you to connect your bank, Visa, Web Money, PayPal, credit card accounts, and other money sources to pay for Bitcoins.
#4) Buy the Bitcoin: Bitcoin trading platforms vary in the manner of operation. Some like Paxful allow you to buy directly from other peers. In that case, you find different customers who post sell orders on the platform. Identify a sell order at the lowest price. Ensure that the person who posted the order adheres to your buying terms such as allowing you to pay with your preferred payment method.
Peer-to-peer platforms also allow you to post a buy order to other peers. Here, you must wait for a seller to contact you to sell BTC as per your buy order terms.
Other centralized crypto exchanges like Coinbase simply post buy orders in a combined order book. In that case, you must deposit money into your account first. Once it is reflected in the balance, check the order book and from a BTC sell order, fill in the amount of BTC you need to buy and proceed to buy. A click on the buy button will be enough if your account balance is enough.
Some of these platforms have additional investing services for those asking how to invest in Bitcoin. For instance, some allow you to lend or stake the bought BTC and earn interest. Others allow you to pile BTC in your wallet. Ensure if it is a secure platform.
Other platforms like Bitcoin.org allow you to purchase from the website. For these, you do not start by creating an account or connecting the money source. This happens in the process of buying BTC. However, have a BTC wallet where the BTC will be sent.
Visit the website, fill in the amount of BTC you want to buy, the wallet address, and proceed as per instructions. You will create an account with a third-party selling platform, connect the money source, and make payments. The BTC is sent to the wallet after the payment is confirmed.
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#1) Identify a Bitcoin trading platform: The first step starts with identifying the best Bitcoin trading platform with which you can open an account or wallet to keep Bitcoins. It is recommended to open a wallet with a trading platform because then you do not have to own multiple wallets or accounts and keep sending the Bitcoins from one place to another.
Please look at our review below of the best places to buy Bitcoin and create a wallet with those platforms. With most platforms, creating an account is synonymous with creating a wallet. Check from your account features if the wallet is provided after sign up. It should be in most cases. If it is so, all you need is to generate a wallet address where you can send the Bitcoins after buying.
#2) Creating a Bitcoin wallet: In case you need to create a wallet address separate from the trading platforms, for instance, with a hardware device, there is a detailed guideline on the best Bitcoin wallets including hardware wallets you can use. Most of the wallets are software on platforms where you need to create an account and own a wallet. Otherwise, if it is a hardware wallet, simply buy it and proceed with setup.
If provided by the platform, remember to back up your wallet, write and save the recovery passphrase, or save the private keys offline. This ensures you can restore the wallet in case something happens with the account.
#3) Connect fiat source: We assume you want to buy BTC with your local currency such as USD or Euro. For those who ask for how to purchase Bitcoin with other local currencies and locally available payment methods, peer-to-peer platforms like Bisq and Paxful will be helpful.
The platforms we have reviewed below allow you to connect your bank, Visa, Web Money, PayPal, credit card accounts, and other money sources to pay for Bitcoins.
#4) Buy the Bitcoin: Bitcoin trading platforms vary in the manner of operation. Some like Paxful allow you to buy directly from other peers. In that case, you find different customers who post sell orders on the platform. Identify a sell order at the lowest price. Ensure that the person who posted the order adheres to your buying terms such as allowing you to pay with your preferred payment method.
Peer-to-peer platforms also allow you to post a buy order to other peers. Here, you must wait for a seller to contact you to sell BTC as per your buy order terms.
Other centralized crypto exchanges like Coinbase simply post buy orders in a combined order book. In that case, you must deposit money into your account first. Once it is reflected in the balance, check the order book and from a BTC sell order, fill in the amount of BTC you need to buy and proceed to buy. A click on the buy button will be enough if your account balance is enough.
Some of these platforms have additional investing services for those asking how to invest in Bitcoin. For instance, some allow you to lend or stake the bought BTC and earn interest. Others allow you to pile BTC in your wallet. Ensure if it is a secure platform.
Other platforms like Bitcoin.org allow you to purchase from the website. For these, you do not start by creating an account or connecting the money source. This happens in the process of buying BTC. However, have a BTC wallet where the BTC will be sent.
Visit the website, fill in the amount of BTC you want to buy, the wallet address, and proceed as per instructions. You will create an account with a third-party selling platform, connect the money source, and make payments. The BTC is sent to the wallet after the payment is confirmed.
For more videos watch this playlist:
BeesSocialTV
https://www.youtube.com/playlist?list=PLT3ArNsa9k19YcQ8G-2Y6y0fq8OYb5ld5
Please subscribe to this channel:
BeesSocialTV
https://www.youtube.com/channel/UCfQoY9QU7bsgb94NuTf_DwA
For more info:
https://facebook.com/groups/beessocal
https://youtube.com/c/BeesSocialTV
https://BeesSocialTV.com
http://shopbeessocial.com
#CryptoSwarm
#BeesSocial
#BeesSocialTV
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