Bitcoin(BTC ) is the first and most popular cryptocurrency and it is getting popular day by day. More investors are showing interest in Bitcoin and other cryptocurrencies. Earlier it was quite tough to buy cryptocurrency but now the time has changed as it has become easy with the new advanced trading platforms.
In this guide, we are covering the process of buying Bitcoin (BTC). Here we will present a step-by-step guide on how to buy Bitcoin. We will also cover how to choose the best cryptocurrency site, how to choose a digital wallet to store the digital coins, and how to sell the BTC coins.
Read this article till the end to learn how to buy Bitcoin. By the end of this guide, you will learn how to easily buy Bitcoin and from where to buy Bitcoin.
How to Buy Bitcoin? – 4 Simple Steps
The best place to buy Bitcoin for novices is Bitcoin Trader. We praise this trading platform for the buying of the BTC and other cryptocurrencies because it permits the trade of BTC spontaneously.
- Choose a broker to buy Bitcoin
- Create an account
- Deposit funds into the account
- Select Bitcoin and Buy on the best cryptocurrency site
Now we discuss in detail that how one can buy BTC.
How to Purchase Bitcoin(BTC )? Detailed Tutorial
Trading in Bitcoin has never been cooler. Earlier it was quite tough to buy cryptocurrency but now the time has changed as it has become easy with new advanced trading features. There are certainly several ways to obtain cryptocurrencies. These new advanced trading platforms offer new offers to the traders for buying the currency
However, it has also become more challenging now for a beginner to find the most relevant and safe offers for where to buy Bitcoin.
There are easy steps you need to make your first Bitcoin purchase, but if you’re ready to buy them, we’ll quickly explain to you how to buy Bitcoin.
1.Choose the platform to buy Bitcoin
To buy Bitcoin easily, you must select an online Bitcoin app where to buy Bitcoins. A number of online Bitcoin platforms are available in the market, some of which offer assured assistance. We are recommending the four best sites here are the 4 best Bitcoin sites.
- Bitcoin Trader– Perfect platform for beginners to invest in BTC
- eToro- Best cryptocurrency site and social trading
- Libertex- A trading platform that offers MetaTrader 4
- Coinbase- Powerful Bitcoin app for trading Bitcoin
2. Create an account
Let’s say you open an account with a Bitcoin Trader Broker. Visit the broker trader website and create a Bitcoin account. When you open the site, a registration page opens on your screen.
When the registration page opens, all you need to do is provide your general information including your last name, first name, country code, email address and phone number. You will require to add a new username and password.
3. Account Funding
After completing the registration process, you will be redirected to the payment platform to deposit funds.
Now put funds into your account to buy Bitcoins and go to “Account Funding” to get your funds. Then you need to enter the amount you want to deposit and choose your preferred payment method (Visa, MasterCard, Maestro bank card, etc.).
Then move to “Proceed to checkout” to finish up the transaction. For beginners, an initial deposit of €250 is generous. Beginners should study before investing a lot of capital.
4. Choose and Buy Bitcoin
Buying Bitcoin on Bitcoin Trader is very easy. You have to Simply enable automated live trading by setting up trading features and specifications. Specify the limits of-
- Total trade
- Maximum daily trading limit
- To make a profit
- Stop Loss
- Cryptocurrency to trade (in this case BTC/EUR or BTC/USD)
Finally, you need to click “Save Settings” to start your first order for buying bitcoins. An automated robot processes the order.
Top Four Best Bitcoin Trading Sites
Let’s discuss these top four Bitcoin trading sites in a detailed tutorial.
1 – Bitcoin Trader: Perfect Platform for beginner to invest in BTC
Bitcoin Trader is the top-listed platform on our list. It is appropriate, reachable, open, and unrestricted trading software. It essentially permits the traders to buy and sell a huge number of cryptocurrencies, including Bitcoin, Ethereum in an automated manner.
This trading application trades for you on the financial markets. All thanks to this trading application as to use this application you are not needed a wide trading understanding to get started in the crypto market. In addition, it saves time of the trader because the trader is not required to spend the whole day surfing on your phone or computer screen to trade. Here traders are needed to prescribe the investment parameters. After setting up your investment parameter Bitcoin Trader will do it for you.
The site claims that it can make $ 1,000 per day for its users through its algorithm. However, remember that trading always comes with risk and the cryptocurrency market is very volatile. In addition, it is impossible to prove this claim made by the platform.
Lastly, Bitcoin Trader is a convenient trading platform that is quite purposeful and trustworthy and it also collaborated with regulated brokers.
Advantages
- User-friendly and shared platform
- Little payments
- Beginner-friendly
Disadvantages
- Not accessible in every country
- Limited trade
.
2 – eToro: Best cryptocurrency site and social trading
eToro provides the opportunity of trading Bitcoin as well as other cryptocurrencies such as Bitcoin Cash or Dogecoin at cheap rates. The broker eToro essentially offers the opportunity of trading Bitcoin in CFDs (contract for difference) with leverage. eToro is one of the most popular trading platforms in the market. It has a huge customer base. It has listed seventeen cryptocurrencies. It is offering its services around the globe. It accepts the payment in dollar only, if you deposit the capital in Euro or any other currency it converts the funds into dollar at the market exchange rate.
With eToro, it is possible to trade Bitcoin securely with an online broker whose name is well recognized in the market. Numerous payment means are accessible and you can trade Bitcoin with PayPal, CB, Neteller, Skrill, and more. The platform has a very user-friendly platform.
eToro also offers CopyTrader (or copy trading) technology that permits novices to invest in Bitcoin by replication the strategies of the top investors. Acknowledgments to the social trading system by eToro generate the opportunity for beginners to copy the strategies of the top traders.
Pros
- User-friendly and shared platform
- Little payments
- Offers demo trading for learning
- Social dealing tool
Disadvantages
- Doesn’t accept PaySafecard
3 – Libertex: Trading platform that offers MetaTrader 4
Libertex is an online Forex trading and CFD trading broker. It is one of the best broker platforms as it possesses huge experience in the industry. It is the subsidiary of The Forex Club Group that was founded in 1997. Libertex was introduced in the market in 2015.
This trading platform offers a huge variety of cryptocurrencies. The broker offers the platform to invest in Bitcoin, as well as in other cryptocurrencies, in particular via CFDs. Apart from this Libertex also offers the MetaTrader 4 platform. Libertex is the market leader.
Advantages
- Possesses huge experience in the industry
- Quite small fees
- Trading BTC CFDs with Control
- BTC trading via CFD eliminates the requirement of a Bitcoin wallet
Disadvantages
- Less popular in France
- No opportunity to buy Bitcoin currency physically
.
4 – Coinbase: Powerful Bitcoin app for trading Bitcoin
Coinbase is one of the largest and most popular trading platforms to buy Bitcoin in the United States. It also offers its services in several European countries, including France.
This trading platform is acknowledged for its user-friendly trading interface and it also offers a mobile trading application that comes in android and IOS versions. It is a secured trading platform and it accepts payment through wire transfers, credit/debit cards, PayPal, and other payment methods.
Advantages
- Well established trading system
- User friendly trading interface
- Beginner friendly
Disadvantages
- Huge fees and commission
- Not available in all countries
How to Sell Bitcoin?
It is as easy to sell Bitcoin on Bitcoin Trader as buying it on Bitcoin Trader. You have to follow the same steps to register and deposit your funds to buy Bitcoin. When you want to sell the BTC tokens then you have just click on “Sell” in the box committed to Bitcoin. In the next window screen, you have to activate the “Sell” button that is placed at the top, select the amount to sell, and just click on “Open position”.
Buying Bitcoin: The Fees Structure
It is essential to know and understand the fee structure that each crypto broker charges. Here we are presenting an overview of the 4 top trusted online brokers available in France.
| Broker | Deposit / Fees | Payment Method available |
|---|---|---|
| Bitcoin Trader | $250 minimum deposit Fee on every transaction | Wire Transfer Bank card (Debit/credit card) |
| eToro | $ 200 minimum deposit 0.75% fee spread | SEPA Bank card PayPal Skrill Neteller Sofort |
| Libertex | $100 minimum deposit -0.9% commission | SEPA Bank card PayPal Skrill Neteller Sofort Giropay |
| Coinbase | $50 minimum deposit Fixed cost: $0.99 to $2.99 Variable cost: 1.49 to 3.99% | SEPA Sofort |
We can perceive that there are so many fees and commissions charged by these online brokers. A trader needs to take all these fees and commissions into account before selecting the broker. Traders are needed to deposit minimum capital to start trading in the market. The minimum deposit limit again varies subject to the broker.
Buy Bitcoin via different payment gateways
Bitcoin Trader and other trading platforms support so many payment methods. It is possible to buy Bitcoin by paying through different payment methods. Common payment methods are-
- Credit/debit card
- PayPal
- Bank Transfer
- Electronic wallet- Neteller, Skrill, UnionPay
Platforms like eToro accept payment through PayPal and here traders can buy BTC via credit card and other payment methods. Some Platforms accept the payment with the Paysafecard method.
Buy Bitcoin via Bank Card (Credit / Debit)
This payment method is very excellent payment method; the bank card is very frequently used to purchase Bitcoin. This payment way of buying Bitcoin is offered by almost all online crypto brokers.
The sole responsibility of accepting payment via card depends on the broker. Platforms like eToro, Libertex and Bitcoin Trader support this payment method for buying and/or trading the crypto tokens. Payment giant VISA and MasterCard supported cards are accepted everywhere.
Buying Bitcoin via card sometimes attracts bank charges, so do your investigation before selecting this payment method.
Buy Bitcoin via PayPal
PayPal is also a very popular way to buy Bitcoin. And the reason is that It is an easy-to-use payment gateway, it is quite a direct and secure method of payment. The PayPal Payment Company is well recognized, it offers reassuring security to purchasers and also disbursement is made using a login, which all over again surges security.
Within few seconds the transaction is approved out if you have a good internet connection. Before using PayPal for purchasing BTC you need to create an account and interconnected the PayPal account to your own bank account.
eToro is the online crypto broker that takes PayPal for BTC trading. Buying Bitcoin with PayPal is possible on some other brokers also; you should check the buyer protection before choosing any platform. PayPal is considered a much-appreciated crypto payment method for buying BTC. Certainly, trades made in Bitcoin are attached only to the blockchain therefore they cannot be traced any longer.
Payment made through PayPal to buy Bitcoin is an encrypted payment that is a great advantage for traders. Conversely, this is adverse to the day-to-day processes of PayPal. Private business trades by using PayPal should consequently be evaded, and the PayPal company has left out buyer protection for such kinds of payments.
Buy Bitcoin via Bank Transfer
You can also buy Bitcoin by paying through a bank transfer. However, with this process, you will have to wait for a long to get the funds in your broker account. Even the sums are not inevitably credited in the brokerage account as is the case with PayPal for instance.
It depends on the broker how much time it will take to reflect the amount; typically it takes 3 to 5 business days to access the credit balance in your account. Before choosing this payment method remembers that it takes so much time to reflect balances in your account.
A platform like eToro, Libertex, Bitcoin Trader, and others accepts deposits through bank transfer. Bank Transfer is the easiest way to deposit funds in a crypto brokerage account but it takes much time.
Buy Bitcoin via ATM
Yes, you have read it right you can buy Bitcoin by visiting any ATM nearby you. If you are looking for how to buy Bitcoin and you are not finding a crypto broker safe then you can directly buy Bitcoin by visiting ATM nearby you. You can physically buy Bitcoin by visiting any ATM. Simply you have to follow the steps and deposit the sums in the machine and the Bitcoin will be generated for you. This buying method is perfect for those who want to buy Bitcoin without registration or verification.
ATM Bitcoins are Bitcoin procurement machines and these machines resemble cash withdrawal machines. So anyone can easily use this Bitcoin vending machine. There are so many distributors in several countries in the world and their reputation is increasing day by day.
In France, there is a limited number of Bitcoin ATM distributors are available. While there are huge numbers of Bitcoin ATMs are available in the United States. The process of buying BTC at ATM-
- Choose the preference “Buy”
- Select Bitcoin
- Choice the amount of Bitcoin to purchase
- Then specify your Bitcoin address
- Deposit the requested amount and you will receive your Bitcoin
There are so many drawbacks of buying Bitcoin on an ATM, such as the incompetence to compare prices and follow Bitcoin prices in real-time or even higher fees than online platforms like Bitcoin Trader or Binance.
Buy Bitcoin Anonymously
The first way to buy or receive Bitcoin anonymously is to buy or sell Bitcoin products (completely legal) on the darknet marketplace (dark web). But while the darknet is still one of the best ways to buy Bitcoin anonymously, it’s neither the fastest nor the most convenient. The solution is aimed at an informed audience already familiar with the darknet environment.
Another way to buy Bitcoins anonymously, described above, is to buy Bitcoins from an ATM. So, you need to find an ATM and buy Bitcoin with an anonymous means of payment, i.e. cash.
Finally, you can also purchase anonymous Bitcoins by physically meeting with the seller in complete anonymity. In fact, there are platforms and blogs that connect Bitcoin buyers and sellers who meet in person for trading. But this solution of carefully buying Bitcoins anonymously can be risky if you encounter unscrupulous sellers.
Buy Bitcoin for free
If you want to buy Bitcoins for free, you need to rethink the usual way of buying cryptocurrencies.
Almost all, if not all, online platforms that buy Bitcoins receive some form of commission. The trick is to know how to choose a cheap platform like Binance or Bitcoin Trader.
So, if you want to buy Bitcoins for free, you have to rely on the same method you used to buy anonymous Bitcoins. That said, here are a few backdoor ways to personally find Darknet and Bitcoin sellers. Matchmaking platforms also charge fees.
Bitcoin ATMs usually have higher fees than other solutions.
What are the benefits of buying Bitcoin?
No entry
No one gets Bitcoins because there are multiple duplicate copies of the transaction database. Your best bet is to use another method to get users to send their Bitcoins to someone else. This means that the government cannot freeze someone’s funds, so Bitcoin users always retain ownership of their funds.
Without tax
There is no viable way to implement a Bitcoin tax system as there is no way for a third party to intercept Bitcoin transactions. It seems difficult to establish because the only way to pay taxes is to do it voluntarily.
Protected information
If the user does not disclose their wallet address, no one can track their wallet address. No one except the wallet owner recognizes how many Bitcoins they grasp. And even if your wallet address is public, you can create a new one very easily. This greatly enhances privacy protection compared to traditional financial systems that are routinely accessed by third parties who access the information.
Trivial transaction fees
To send and receive Bitcoins, users need to run a Bitcoin client and connect to another node. Basically, users use Bitcoin to contribute to the network and share the burden of accepting transactions. Sharing this work significantly reduces transaction costs, making them negligible.
No risk of transaction cancellation
Once the Bitcoins are transferred, the transaction cannot be reversed. Since the Bitcoin address is replaced with the address of the new owner, it cannot be returned after the change. Only the new owner has the associated private key, so only the new owner can change ownership of the part.
Bitcoin cannot be stolen
Bitcoin ownership addresses can only be changed by the owner. No one can steal your Bitcoins unless you have physical access to your computer and send them to your account. Unlike regular financial systems, where few security details are required to access your account, Bitcoin requires physical access, making it very difficult to bargain.
How Much Money Can You Make With Bitcoin?
It’s a difficult question to answer. When actively trading Bitcoin, your returns will depend on the number of trades, your average profit target and losses, your win rate, and the leverage used. . In short, both gains and losses from actively trading Bitcoin and other cryptocurrencies can be unlimited.
However, if you want to buy Bitcoin as a long-term investment, you can make a more accurate prediction by studying Bitcoin’s past history.
How much money would you have made with Bitcoin betting?
In the long run, profits can be much higher. In December 2018, Bitcoin fell from an all-time high above $20,000 in December 2017 to near $3,200 after a year-long decline, at which point many bet on Bitcoin demise. However, six months later, Bitcoin rose 330% to $13,765, again. Bitcoin rise up more than quadrupled.
This means that an investment of 1,000 Euros in Bitcoin at the end of 2018 would be worth 4,145 Euros after six months.
Conclusion: How to Buy Bitcoins Safely?
As we have seen in this guide, there are several spaces where you can buy Bitcoin. While online platforms offer ease of use and safety, those seeking obscurity or not charging fees, it have other options to discover.
However, Bitcoin Trader is a trustworthy, secure, easy-to-use, and cheap online platform. Bitcoin Trader is still possibly the best way to buy Bitcoin quickly and easily. Also, Bitcoin Trader is accessible even for beginners as it does not require extensive training in trading.
