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A simple guide to buying Bitcoin and other cryptos quickly

A simple guide to buying Bitcoin and other cryptos quickly

Wed May 26 2021 01:00:00 GMT+0000 (Coordinated Universal Time)

Cryptocurrency is an exciting alternative when it comes to investing, trading and storing of value. The price of digital assets in the market is climbing at a fast pace, giving more options for those who want to move away from traditional banking systems. There’s no better time than now to join the crypto fray. Find out how in this article!

Getting hold of digital currencies is easy if you know the right place to get started. So, before you jump in, start on the right foot with this quick guide on how to buy crypto instantly!

Get crypto with these easy steps 

Diving into cryptocurrency means you need to look for a reliable and trusted platform that can accommodate your transactions. When it comes to platforms, there are several options you can try depending on your preference. 

Exchange sites 

Exchange sites are one of the best places where you can buy cryptos instantly because they can easily match orders between buyers and sellers. Some sites even offer guidelines for investing, which is perfect if you’re still a newbie in the crypto market. However, some exchange sites can have higher fees, depending on the service you use or the crypto you’re trading. 

When you’re looking for exchange sites, make sure that they offer features such as real-time depiction of the market’s movement so you can easily track the surge and drops of prices.

Here are some of the most popular exchange sites you can use:

  • Coinbase 
  • Coinmama
  • eToro
  • Kraken.

Crypto broker sites 

Broker sites have brokers that assist you in buying and can accommodate your questions about digital assets. Usually a crypto broker is a firm or an individual who acts as a middleman where you can directly buy and sell cryptocurrencies. However, broker sites usually have high fees because of the convenience they offer.

Here are some of the most trusted broker sites you can use:

  • Swissquote
  • Henyep Market
  •  Avatrade. 

P2P marketplace

If you don’t want intermediaries when trading, you can opt for peer-to-peer marketplaces where you can directly transact with fellow traders. For a P2P trading to take place, both parties must agree upon the price and conditions of the exchange. 

Look for a good marketplace and find traders who won’t overcharge you. Check reviews from experts or long-time users and do your own research of the coins and their prices before engaging in a marketplace to make the most out of trading. 

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Bitcoin ATMs

In Bitcoin ATMs, you can simply insert cash into the slot to buy bitcoin instantly. Once you’ve paid for your BTC, it will then be transferred to your wallet. Moreover, you can use Coin ATM Radar, a site that can show you where the nearest Bitcoin atms are. Here are some of the countries where you can find Bitcoin atms:

  • United States
  • Canada
  • United Kingdom
  • Austria 
  • Spain
  • Hong Kong 
  • Poland 
  • Switzerland
  • Romania
  • Czech Republic
  • Thailand
  • Singapore 
  • France
  • Philippines 
  • Slovakia
  • Hungary 
  • Germany 
  • Colombia 
  • Italy
  • Belgium 
  • Puerto Rico 
  • Netherlands
  • Slovenia
  • Netherlands
  • Bulgaria
  • Panama.

Mining cryptocurrencies 

One of the most advanced options to get cryptocurrency is through mining or validating. When you join the network and help maintain the blockchain by becoming a miner/validator, you can receive cryptocurrencies as incentives after successfully validating a transaction in the block. 

However, this option can be tedious and requires high-tech devices and a lot of resources, so it isn’t ideal if you’re looking for faster alternatives to get digital assets. 

Things to consider before buying cryptocurrencies 

Location 

Before buying cryptocurrency, it’s always important to learn the regulations of your country so you’ll know the options available to you. 

Payment method 

Check the payment method accepted in your preferred platform before buying cryptos. Most accommodate credit card, bank transfer, or cash.

Transaction fees 

Third party sites like exchanges and broker sites usually have transaction fees with their services. The price varies depending on the sites you’re using, as well as the cryptocurrency you’ll be purchasing. 

Cryptocurrency wallet 

Before you buy cryptocurrencies, make sure you have a wallet to store your tokens. There are different kinds of crypto wallets you can use. You can opt for hot, cold, and online wallets. If you want instant access to your tokens or plan to trade frequently, you can go with hot wallets since these are connected online and can be downloaded on devices such as phones and tablets. 

On the other hand, if you want extra security, you should opt for cold wallets. Since cold wallets are stored offline, they’re less at risk of online threats and cyber attacks. 

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Grow with the market when you start with crypto now

Like all things in life, investing in cryptocurrencies requires time, patience, and research. Now that the age of digital assets is beginning, make sure you’re well-equipped with the information to effectively grow your investments in the long run. While you’re at it, have fun playing Bitcoin games you can enjoy here at Bitcasino! 

Words by: Rain Quintana


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