Nowadays, cryptocurrency(digital currency) overtook the traditional finance system. New millionaires are being made almost daily by purchasing and selling these cryptocurrencies- Bitcoin, Ethereum, Ripple, Stratis, NEO, Litecoin, and other cryptocurrencies.
So, If you’ve decided to invest in cryptocurrency. However, you’re confused to know how and where I can buy these cryptocurrencies. It can be quite difficult to choose the best option to buy new cryptocurrency.
Don’t worry! you are at the right place, we’re going to provide you everything you need to know about how and where to buy cryptocurrency. So, let’s get started!
How to buy cryptocurrency?
Buying and selling cryptocurrency has been made a lot simpler over the last few years. Before attaining cryptocurrency, you’ll need to focus on followings important factors-
- Location: It’s important to find out where you can buy cryptocurrency and also check your country’s regulations.
- Payment Method: Different websites accept different payment methods to buy cryptocurrency include- Credit card, PayPal, or even cash. So you’ll need to choose a payment method that you want to use.
- Type of Cryptocurrency: Choose a website that sells the cryptocurrency that you want to purchase because all cryptocurrencies are not available on every website.
- Cost of Fees: Before setting up an account on any website, you should make sure about fee cost.
- Cryptocurrency Wallet: You’ll need a crypto wallet to store your cryptocurrency like your traditional bank account. Luckily, there are various of cryptocurrency wallet to choose such as TREZOR, Ledger Nano S, KeepKey, and Exodus.
Now, you know the important factors that you must remember before buying a new cryptocurrency. Let’s move on the next step to learn where to buy cryptocurrency and how to pay for it?
Where to Buy Cryptocurrency?
A few years ago, there is less number of places to buy and sell cryptocurrencies. But nowadays, there are a lot more!
Let’s look at the different places where you can get your cryptocurrency.
Buy Cryptocurrency at Cryptocurrency Exchange Platform:
Cryptocurrency exchange platforms are online websites which offer you to exchange your local currency to cryptocurrency. this is the most popular way and we’re recommending beginners to use these exchanges for buying cryptocurrency.
Nowadays, there are a lot of exchanges with different levels of security and payment methods. You’ll need to follow these steps to buy cryptocoins at cryptocurrency exchanges.
- First, you’ll need to create an account then it’ll ask to set up 2-step verification for account security purpose.
- Once your account is set up, you can buy a cryptocurrency or exchange it for another cryptocurrency.
- you must be careful about the security of exchange, transaction fees, cryptocurrency options, and check user reviews.
The best cryptocurrency exchanges-
Here, we’re providing you some best cryptocurrency exchange platforms.
Buying cryptocurrency with Coinbase
Coinbase is the most popular cryptocurrency exchange with more security features. their fees depend on the payment method which you choose- bank transfer, credit/debit card, and PayPal.
You can also download the Coinbase cryptocurrency app on your phone. and create an account. The next thing you’ll need to click on the “Buy” button on the app to make a purchase.
Buying cryptocurrency with Coinmama
Buying cryptocurrency with Coinmama allows customers from almost any country. It is a highly trusted cryptocurrency exchange platform and you can buy Bitcoin, Ether, Ripple, and other cryptocurrencies.
you’ll need to follow these steps for buying cryptocoins from Coinmama.
- First, Create your account on Coinmama
- Enter your order
- Submit Identity verification documents
- Submit payment
- Get our cryptocurrency instantly
Buying cryptocurrency with Kraken
Buying cryptocurrency with Kraken is quite complicated than Coinbase. First, you’ll need to set up an account and validate your account with government-issued photo ID.
Next, you’ll need to add money into your Kraken account and then click on the New Order button. After that, you can pick your cryptocurrency like Ripple by clicking the Buy button. Now, Click on the Confirm Button to complete your process.
Buying cryptocurrency with Kriptomat
Kriptomat offers more secure fiat gateway with operating licenses by the Financial Intelligence Unit. The process of identity verification is very simple on Kriptomat and takes less than 5 minutes. It supports 21 languages and provides quick and reliable customer support.
Buy bitcoins from Bitcoin ATMs
In this digital currency world, Bitcoin ATMs are becoming more and more popular. these are just like normal cash ATMs but in Bitcoin ATMs, you can only deposit cash instead of withdrawing. there are around 18,000 Bitcoin ATMs in 58 countries. You can use Bitcoin ATMs map to find out your nearest Bitcoin ATM.
Using Bitcoin ATMs, you don’t have to register or create an account. you’ll need to follow these steps-
- First, find a Bitcoin ATM nearby you.
- Go to the ATM and verify your identity with a valid phone number if it asks.
- The ATM will send you a verification code, enter this code into the ATM.
- Now, it’ll ask for cryptocurrency wallet address. In case, you don’t have a crypto wallet, the ATM will create a new cryptocurrency wallet for you.
- deposit your cash into the ATM
- Then cryptocurrency reflected into your wallet and ATM prints a receipt of your transaction.
Buy Bitcoin and Ether P2P(Peer-to-peer)
This is the less risky and simple way to purchase cryptocurrency. Peer-to-peer exchanges allow users to buy and sell cryptocurrency from each other directly. this eliminates the extra fee and no need to share identities.
Let’s have a look at how to exchange peer-to-peer cryptocurrency with step by step-
- Go to the P2P website and create a free account.
- Find out the listing in which you want to invest like Craigslist.
- After that, you’ll need to select a payment method on the listing and ID requirements if it’ll ask.
- Search a buyer or seller which has good reviews.
- Fill the all details that the listing is needed and submit your request.
- If your request is accepted, make a payment.
- Now, the seller will confirm your transaction with a reference number and your cryptocurrency will instantly send to you.
**Note: Information contained in this guide is not an offer or solicitation to buy, hold, or sell any security. We’re not financial advisors and are simply providing information for educational purposes. Investing in ICO involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment.
Investors should consult their financial advisor before investing in ICOs. Furthermore, the SEC has warned investors residing in the United States and other jurisdictions that ICOs may constitute securities.
Hope! this guide helped you to find out the best way to buy cryptocurrency and also we’ve explained best cryptocurrency exchange platforms.
If your mind running into any query related to this guide, please comment below and we’ll try to help.