How to Buy Bitcoins?

Introduction to buying Bitcoins

Introduction

Bitcoin still sounds unfamiliar for a lot of people. Many think that it's some bubble or Ponzi-like scheme. However, Bitcoin became pretty popular lately. Its price is growing, acceptance is bigger than ever and still it's the beginning. So maybe it's the right time to make your first purchase and acquire some digital coins?

How to buy bitcoins

Find Bitcoin Exchange Which Suits You Best

First step would be to decide what payment method is going to be used. Is it a credit card or bank transfer? Cash maybe? Or do you prefer other payment processors? Different payment methods have different fees and processing time, so it's very important when you need to make a purchase as fast as possible. Remember that bank transfer speed depends on the bank, is it international or domestic, and it isn't a bank holiday. Every exchange has its own privacy policy and is regulated by various KYC/AML regulations. It means that verification process might be mandatory before placing an order. It can take some time also. 

Fees are always different and each exchange has its own rates for that. Always find them out before buying, as many users are disappointed when get less than expected. Bitcoin itself isn't expensive technology and transactions are usually cheap. However, exchanges put their fees on every purchase made. 

Privacy and regulations depends on KYC/AML regulations. Sure it's the result of country laws where exchange operates. But be prepared to provide identification and proof of residence on purpose to complete your order. Sometimes exchange might ask more than ID or proof of address. In some cases P2P exchanges are great if more privacy needed.

Limits depends on the exchange only. So check it before registering as well. Especially if big amounts are going to be traded. But mostly exchanges give huge limits and it's enough. In addition, there is an option to have many accounts at different service providers. 

Security is probably the biggest concern when talking about digital assets. Some exchanges were hacked before, and they're going to be hacked in the future also, so check if exchange use SSL, and keeps funds in cold wallet (it would protect digital assets if someone hacks in). More about keeping funds secure - How to keep your cryptocurrency safe.

So now when we know where to look at when choosing an exchange, we've left to chose the one. Below the table with preferred payment method can be found and the link to the exchange's review.

Credit Card
Bank Transfer
Cash
Other financial services

Build your Bitcoin Stock

So now when exchange is found, it's time to place a first order. Every exchange has its own process so it's hard to explain every click which must be done at every step. But usually everything is more simple than it may look like. Just follow the guidance provided at exchange. If something is unclear, it's highly recommended to contact support and make everything clear before finishing the order. Usually support will be glad to help and explain everything what is unclear.

How to keep Bitcoins safe

Probably the most important thing - to make sure your Bitcoins are safe. How to do that? Probably, safest and most convenient way is to store your coins into hardware wallet like Ledger Nano S or Trezor. Either online wallet is enough for you. We highly recommend to read this short guide - How to keep your cryptocurrency safe?

FAQ

Bitcoin Stock

We know that sometimes it can be confusing, consequently you're going to find top questions with the answers. Still if you have more questions on how to buy Bitcoins, feel free to contact us.

What Bitcoin confirmations are?

Almost every ten minutes, a new block is created and added to the blockchain through the mining process. This block verifies and records any new transactions. Most Bitcoin users require 6 confirmations before payment is fully confirmed.

Is Bitcoin anonymous?
Can I buy the part of Bitcoin?

Of course! You can buy even 0.001. 

Exchange can determine its own minimal amount of purchase.

Is it legal?

Depending on the country of residence. Check your country's legal status of Bitcoin.

Where to store Bitcoins?

To receive Bitcoins you must have a wallet. Many exchanges provide wallet in addition of their services (however, security isn't the best). Others require provide them with wallet address. You can have as much wallets as you want.

When is the right time to buy Bitcoins?

Bitcoin price changes every second through the day. We can't say when you should make a purchase. It's up to you. To better understand price fluctuation we recommend to check CryptoCurrency Market Capitalizations.

Is Bitcoin a stock?

No. There aren't such thing like Bitcoin Stock. While, it self is something similar. In other hand, you can save it as your stock of funds (assets).

What are Bitcoin fees?

Most noteworthy are transactions fees. They are mandatory that payment would get through blockchain successfully.

In addition, Bitcoin Exchange Rate depends on exchange used.

We hope you found information about how to buy Bitcoins, what exchange offers best Bitcoin Exchange Rate and how to keep your Bitcoin stock safe.  We try to keep this information up to date and renew it oftenly. If you found inaccuracy or false information, please keep us informed through social media or this website.