- Buy bitcoin investment in the future
- Creating a wallet
- Where to buy cryptocurrency
- Purchase bitcoins for cash
- Paxful to buy bitcoins with cash
Buy bitcoin investment in the future
How to buy bitcoins with cash? Investing in cryptocurrency is a popular way of multiplying funds. The wide distribution of digital money is largely due to their availability: any user can purchase a small number of virtual coins and get tangible profits. However, for a novice investor, the process of selecting and buying specific assets often seems difficult.
The process of buying electronic currencies consists of several stages:
- selection of specific assets;
- creation of a purse;
- exchange of traditional (fiat) money for a digital currency.
Creating a wallet
A purse is a set of tools that allows a user to receive, send and store a cryptocurrency. The role of the wallet can perform:
- client program for PC;
- online service;
- physical device.
To choose the most convenient way of storing money, we will understand the pros and cons of each option.
Software or “cold” wallets are installed on the user’s computer and provide a high level of security. In most cases, the program requires a large amount of free space on the hard disk, since for its work it loads the entire block. For example, the official Bitcoin Core client after the synchronization process takes more than 150 gigabytes.
- Online purses are spared from this shortcoming, but much more often suffer from hacking and theft of funds. For this reason, experts do not recommend using them for long-term storage of coins. The most popular and reliable online wallet for Bitcoin is the service blockchain.info.
- Hardware or physical wallets are made in the form of a USB-device that is connected to the computer only for the period of working with cryptocurrency. They provide the maximum level of security when working on unfamiliar devices that can be infected with viruses and spyware. The cost of popular models ranges from $ 60 to $ 80.
- In most cases, a novice user should use a software purse, which can be downloaded from the official website of the cryptocurrency. This option provides a sufficient level of security and does not require the purchase of additional devices.
Where to buy cryptocurrency
The method of purchasing cryptocurrency depends on several factors, the main of which is the necessary purchase amount. An important role is also played by the possibility of passing extensive verification, choosing a particular currency and the country of residence of the buyer. Further in the article are given the methods most relevant for residents of the countries of the former USSR.
All described options are suitable for the sale of cryptocurrency.
- Exchange or virtual exchange offices – a convenient and fast way to buy a small amount of cryptocurrency. In most cases, the limits for the exchange are 1 – 2 thousand dollars, but this amount may vary depending on the site and the amount of money in the exchanger’s reserve.
- You can pay for the purchase with the help of popular payment systems (Yandex. Money, QIWI, Webmoney and others), transfers from bank accounts and even cash. The average commission for the operation is 1 to 5 percent. It is noteworthy that in recent years buying bitcoin on average costs more than buying popular altcoins. The situation has objective reasons and is connected with the growth of commissions in the Bitcoin network.
Purchase bitcoins for cash
An excellent way to acquire bitcoins for cash is real-world meetings with people selling cryptocurrency and using ATMs. You can also buy bitcoins on any stock exchange by cashing in a bank account.
Using the exchanger you can buy bitcoin, but you first need to create an account, which you can replenish through the bank in cash.
The main criterion for choosing an exchanger is his reputation. The absence of negative feedback and a long history of work testify to the high reliability of the exchange office. To get acquainted with the current rating and choose the most profitable exchange rate, you can visit bestchange.ru.
- The site LocalBitcoins is a platform that acts as an intermediary in the exchange of fiat money for bitcoins between private individuals. LocalBitcoins users set the exchange rate themselves, commissions and payment methods.
- The system plays the role of guarantor: during the exchange bitcoins are stored on the purse of the seller, access to which is blocked at the time of the transaction. This method protects the buyer from theft of funds: an unscrupulous seller simply will not be able to withdraw the cryptocurrency from his wallet.
Unlike the exchangers, the site LocalBitcoins allows you to buy and sell exclusively Bitcoin cryptocurrency, while you can enter fiat money in more than 20 different ways. In practice, their availability depends on what methods of payment users offer at a particular time. In most cases, the purchase of Bitcoin on the LocalBitcoins site is less profitable compared to the exchangers, while the sale rate is often more attractive.
- Exchanges are perhaps the least convenient way to purchase a cryptocurrency for a beginner, but they provide the highest level of security and provide the opportunity to purchase a large number of coins at a time. In practice, there is nothing difficult in using exchanges: it is enough to carefully study the rules of work and a set of tools for currency trading. Let us dwell in more detail on how to buy a new currency by using the exchange.
- The interfaces of most sites are arranged according to similar principles. In the “Balances” or “Balances” menu, a list of purses is displayed, which are used for replenishment and withdrawal of funds. Currency trading takes place in specific currency pairs. For example, the pair BTC / USD expresses the ratio of the price of bitcoins to the value of the US dollar. The rate of BTC / USD 6000 means that market participants estimate bitcoin is more expensive than the dollar in 6 thousand times.
In practice, when making transactions, the terms “Bid” and “Ask” are used. A bid is the price at which an asset can be sold. Ask is the price at which you can buy an asset. In order not to get confused in the terminology, it is enough to keep a simple fact in mind: the purchase price is always higher than the selling price.
Which currency exchange to choose:
- The choice of a particular trading platform depends on several factors.
- The currency for which digital coins will be purchased. Many exchanges do not support the entry of national currencies, such as dollars or rubles.
- Cryptocurrency, which the user wants to buy. The most popular assets, such as Bitcoin or Ethereum, are on almost all exchanges. To purchase less-known tokens, you usually need to register on small sites with low liquidity.
Readiness to undergo complex verification. The larger the exchange, the more difficult the process of confirming the identity. On popular sites, users are required to send scanned copies of documents confirming their identity and place of residence.
Amount of purchase. Small exchanges are not able to provide trading volumes sufficient to purchase a large number of coins.
Paxful to buy bitcoins with cash
Service is a Bitcoin:
- Paxful visits more than 2 million users every month, and 50% of them are people from the Russian Federation. The service is a Bitcoin peer-to-peer market that connects buyers and sellers. The resource offers more than 150 payment methods.
- Modern life requires the availability of real money, as well as virtual ones, which, in full today, are plying and converting on the Internet. For similar currency manipulations, a specialized service is required that can quickly convert or transfer money from one virtual account to the one specified by the user. Such opportunities for manipulating electronic money offer tremendous opportunities for humanity, the most important of which is the saving of time and of course profit.
- The exchanger will help you buy bitcoin for cash, without special obstacles you can make a transfer or convert the crypto currency. Twenty years ago, users could not even imagine that they would buy electronic money, and now manipulating virtual money is considered to be just as common a thing as traditional money.
How to buy bitcoins with cash? Choose one of several ways to buy bitcoin, exchange, exchanger, purchase through an ATM of bitcoins, transfer cash through the yuan and open an account on the site and meet with real sellers.