- Creating a wallet
- Where to buy bitcoin
- Exchange and real rates
- Do I have to pay taxes?
On Sunday many people start figuring out the best btc exchange strategies that “came rattling down Wall Street” after the Chicago exchange of CBOE started trading in futures for cryptocurrency. During the day the exchange rate varied from 15 to 18 thousand dollars, and on the eve of the bitcoin billionaire Cameron Winklewoss predicted that the rate could grow 20 times. And although analysts still point to the dangerous volatility and instability of the currency, the phenomenon of bitcoin is called a “bubble”, many thoughts about buying bitcoins. For those who believe that it is not too late to invest in the cryptocurrency and does not plan to play on the stock exchange, Rain has prepared instructions on how to do it.
Creating a wallet
First of all, you need to register an online wallet, where you will store bitcoins. After registration, you need to set up a purse security system, tying the mail and phone number to it. In this case, even if someone steals your password, he most likely will not be able to get into the purse: to enter, he will have to click on the link in the e-mail and / or enter the code received by SMS.
Purses offer customers a tool to restore access through a secret phrase – 12 randomly generated words that need to be written on paper and stored in a secure place. After registering your wallet, you can use its number for using best way to buy bitcoins. In the purse itself you can not trade, it is used only for storing and transferring currency. You can buy bitcoins on exchanges, in online exchangers or even with hands (transfer from purse to purse without intermediaries).
Where to buy bitcoin
The best way to buy bitcoins is through the exchanger. A major aggregator of these services is www.bestchange.ru. First you need to choose how you want to get bitcoins (using a bank card, Yandex Money, WebMoney, Qiwi, etc.). Next, you need to choose the appropriate exchanger. If you are going to purchase cryptocurrencies for 20 thousand rubles, you will not be able to use the exchanger, where the minimum transaction amount, for example, is 30 thousand rubles. The column “reserve” indicates the maximum number of bitcoins that the exchanger has.
The most important point – feedback about the exchanger in the far right column. The first figure is the number of complaints, the second is the number of positive reviews. It is worth choosing an exchanger without complaints and a lot of good feedback.
Further in the exchanger after registration you indicate your data, card number and purse number, to which you will be transferred bitcoins.
Another best way to buy bitcoins is the service www.localbitcoins.com, which acts as an intermediary and guarantor between the seller and the buyer. The site is arranged as an aggregator of exchangers, but specific vendors are indicated here. Sellers also have a rating. The first figure is the number of transactions, the second is the percentage of successful transactions. It is worth choosing a seller with a rating of 100% and a large number of transactions. In the “Restrictions” column, the seller specifies the minimum and maximum of bitcoins that he can sell to you.
After you have chosen the seller that suits you and clicked “Buy”, in a new window you enter the amount that you are willing to spend and send a request for a deal. At this point, you will open a chat with the seller, in which you can ask for requisites.
To the seller realized that the money came from you, in the comment to the translation, you can specify a “link message” – a special code. You can just write to the seller in the chat your name and he will understand from whom the money came. After the transfer, you press “I paid”, and the seller transfers you bitcoins.
When you specify the amount that you want to buy, these bitcoins are blocked on the seller’s account and they will be able to get them back only if the transaction is canceled. When he receives money from you, he “releases” the bitcoins. If the seller tries to deceive you, then providing all the requisites to the system, you will receive paid bitcoins. The whole operation takes a few minutes.
After that, the bitcoins are in your account. It is safer to store cryptocurrency in your wallet. To transfer them from your account, go to the profile on localbitcoins in the “send bitcoin” section and indicate the number of your wallet in the “receiving address” column. In a few minutes they will be in your purse.
You can buy cryptocurrency on exchanges, but this method, according to the managing partner of Emil Yakubov’s cryptocurrency investment fund, is suitable for more experienced users who know perfectly well the best way to buy bitcoins and those who want to invest in different cryptocurrencies. The list of exchanges can be found, for example, on the portal coinmarketcap.com.
“The exchanges on which bitcoins are traded, in fact, do not differ from the usual trading platform, whether it’s the exchange of New York or Moscow,” Yakubov explains. You can start playing on it with almost any volume, but in general this tool is suitable for more advanced investors, and for beginners the best way to buy bitcoins is exchangers, sharing your experience with Yakubov.
Exchange and real rates
In exchangers it is impossible to buy bitcoins at the stock exchange rate. Like the dollar at regular currency exchange offices, bitcoin is sold at a higher exchange rate, and is bought at a lower exchange rate. Buying cryptocurrency for 20 thousand rubles, you must be prepared for the fact that in your wallet will be the equivalent of the amount of 16-18 thousand rubles.
Do I have to pay taxes?
The Ministry of Finance in October 2017 explained that the tax code does not separately establish a tax on operations with bitcoin. In spite of this, it is necessary to pay personal income tax from operations in cryptocurrency in accordance with general rules, the letter of the Ministry of Finance says.
So we looked through the best way to buy bitcoins and the easiest one. Hope our instruction going to be useful for you.