How can I buy and sell Bitcoin?

As the price of an asset falls, new opportunities open up. After all, the old rule of investing is “buy cheap – sell dear”. For those people who still have the courage to invest in cryptocurrency, we will give an answer to the question: How can I buy and sell Bitcoin? The resources listed below are also suitable for those who are tired of cryptocurrency surges and want to get rid of it.

Exchanges

On exchanges, in addition to registration, you will have to undergo identity verification. To do this, you need to upload documents that confirm the persona of a crypto-investor (passport, ID, and sometimes a driver’s license will work). This process can last for weeks, because the team of trading platforms checks everything manually. Some exchanges require an investor to deposit a minimum amount to start trading. For example, the Bitfinex exchange, the world’s third-largest daily trading exchange, does not allow trading until a customer has made a deposit of the equivalent of $10,000. Investors who decide to trade on international exchanges are better off withdrawing their money in cryptocurrency and depositing it into a wallet. 

Exchangers 

Exchange is a very troublesome way to buy or sell cryptocurrency. As you can see, it requires registration and, often, verification of the investor’s identity. In this regard, exchangers qualitatively win. They work on the same principle as traditional currency exchangers. The only difference is that all transactions take place online, and instead of dollars and euros they sell and buy cryptocurrencies. But there is another nuance: there are a huge number of fraudsters among cryptocurrency exchangers. In order not to become a victim of scammers, you need to pay attention to several criteria.

Cryptocurrency reserve. The more reserve the exchanger has, the faster it will be able to exchange the cryptocurrency. This is not a static indicator. If the user has conducted a large transaction, the reserves may decrease significantly. But on popular cryptocurrency exchangers, reserves are restored very quickly.

Number of trading pairs. If the exchanger offers a wide selection of cryptocurrencies, the convenience of the exchange increases at times. 

Reviews. Before entrusting your money to a particular exchanger, it is worth paying attention to the experience of previous users. The cryptocommunity is incredibly large and there are many thematic forums, such as BitcoinTalks. You can always check the information about the crypto exchanger on it. 

ATM

On the wave of universal fascination with cryptocurrencies, terminals appeared all over the world, through which you can buy bitcoins. So far, they can only be used by residents and guests of some countries. Buying cryptocurrency is quite simple: the client comes to the ATM and selects the terminal “bitcoin”. Then he allows the terminal to scan the address of his cryptocurrency wallet and deposits cash. The bitcoin exchange rate is calculated through the exchange. Like all other methods, there is no guarantee that the buyer will get his bitcoins – everything is based on trust alone.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *