How to buy bitcoin: a detailed guide for beginners

First you must decide where you will store cryptocurrency. There are two main ways – in a caste -like wallet on a trading platform or in your own https://gagarin.news/ua/news/the-altseason-index-what-do-you-need-to-know/ non -codial wallet, which will only have access to you.

Then you need to select the application for the purchase. For the first transaction, we recommend using a centralized exchange of cryptocurrencies with a large volume of bidding, such as FTX, Huobi, Binance or Kraken.

As soon as you register on the exchange, in the profile you will have your own wallet for storing cryptocurrencies. It is worthwhile to strengthen the security of the profile in advance by configuring two -factor authentication for the input and removal of funds, and go through the “Know your client” (KYC) procedure – confirmation of the personality.

P2P services provide protection to all transaction participants using their site, feedback system and escrow accounts. Each user has a rating that other participants in the platform in transactions exhibit him. Therefore, it is worth paying attention to it, the higher – the more reliable the participant in the exchange. For the transaction, both the seller and the buyer must block the amount necessary for the exchange in the service, only then the deal will be fulfilled.

Among the largest P2P platforms: Localbitcoins, Paxful, Binance P2P and others.

How to buy bitcoin in Telegram?

Telegram wallet is an automated service based on bots performing the storage and exchange of cryptocurrency. With it, you can make transactions in the messenger without installing additional applications.

Consider the process of buying bitcoin through such a service on the example of Anya wallet.Cash. The service supports the hryvnia, tenge, euro and US dollar, as well as popular crypto acts like bitcoin, Ethereum, Litecoin, Tron and Tether (USDT).

Users can withdraw up to $ 200 in cryptocurrencies and $ 50 in fiat money without verification. To increase limits and support bank cards, KYC is required to go through.

First you need to replenish one of the wallets – press the button Start In Telegram-boot Any.Cash and choose an asset. After that you can proceed to exchange.

Each asset has several trading couples. Before completing the transaction, the service shows the total amount of the operation, including the commission for the transaction. The history of transactions is stored in the user profile.

To increase safety in Anya.Cash can activate two -factor authentication by a one -time code that will come to the mail or generate in the application.

What commissions are levied for the purchase of bitcoin?

In the process of buying bitcoin on the exchange, each user has to encounter 3 types of commissions: for replenishment with fiat money, for a trading operation and for the BTC output to the user cryptocuriate.

For example, the Binance crypto -rope provides various levels of commissions and trading conditions depending on the amount of funds in the account. The standard commission is 0.1%. It is possible to get an additional discount on the commission if you pay for it in native coins of the ecosystem called BNB. The tokens of other exchanges have a similar function – OKX (OKB), Huobi (HB), FTX TOKEN (FTT), Kucoin Token (KCS), Gatetoken (GT), and T. P.

Some P2P platforms take a fee for operations, but usually it is lower than the standard commission for transactions on the exchange. For example, at the Binance P2P site, users who place bets on announcements on the purchase of bitcoin do not pay the commission at all.

Physical and online exchanges are simple and convenient to use, but are very inferior to exchanges in the number of functions, and are also considered the most risky way to exchange. In addition, they often use the system of hidden commissions: they formally do not charge an exchange commission and other operations, but they lay their profit in prices.