How to Buy Crypto : A Guide to buy Cryptocurrency

The most popular ways to buy cryptocurrency are wallet apps, centralized exchanges, brokerages, or peer-to-peer marketplaces. The Bitcoin.com wallet apps make buying, storing, and managing your crypto easy, while eToro is appealing because it lets you invest in cryptocurrency brokerage.

Sites such as centralized exchanges and CEX are websites to buy and trade crypto or peer-to-peer P2P platforms where you have Peach Bitcoin link sellers and buyers directly. When downloading the Bitcoin.com Wallet app, Trusted means that it is a fantastic app that you can use to safely receive, send, sell, buy, and manage Bitcoin and other popular cryptocurrencies.

Key Points to Consider

The three key factors when buying cryptocurrency are how you pay, where you purchase, and where you hold the crypto.

1. Choosing a Payment Method

All intuitive apps offer users an easy way to purchase crypto via bank transfer, credit card, Apple Pay, and Google Pay. Some trade cash or barter for crypto. The convenience, privacy, and fees of these methods differ.

2. Selecting a Buying Platform

Buying crypto is easy and is done in different ways. There are a few ways to buy Bitcoin: digital wallet apps, centralized exchanges, peer-to-peer marketplaces, and OTC desks (private services used for large transactions). But of course, PayPal or any other such payment app lets users purchase crypto. Another way to go is without cash if you were to buy something from a friend.

3. Storing Your Crypto

Whatever you buy, you will need to put it somewhere. It can, for example, go to Bitcoin.com Wallet, where you hold the keys in your hands. It can also be stored using a custodial wallet (a smart storage wallet operated by a crypto exchange or a crypto payment app)—that is, you are storing your funds with another person.

It will help users to buy and store crypto safely, and they should know these basics.

Not Your Keys, Not Your Coins!

A self-custody wallet (or noncustody wallet) lets you control your coins fully. As long as you can provide a crypto address, you don’t require permission from a company or an exchange to send or receive crypto. There are no restrictions as to when you can use your funds and where you do it from.

However, custodial wallets (those run by exchanges or apps) prevent you from doing any of the above with your crypto. They may also require extra steps like registering addresses before sending funds, delayed or banned withdrawals, and even complete blocking of withdrawals. Sometimes, freezing your account may occur, leaving you without access to your money.

Using a self-custodial wallet, you can adjust the transaction fees according to how quickly you need the transfer. If you aren’t in a hurry, you can pay lower costs but increase the fee immediately.

Custodial wallets give less security than self-custodial wallets. However, all you need to do is keep your private keys safe, and your funds will be protected from hacks, and an exchange won’t shut down or go bankrupt on its drive.

There is no need to get one yet. If you don’t have a wallet, you can try the Bitcoin.com Wallet. It is a self-custodial crypto wallet used by millions of people worldwide.

Why Do I Need to Verify My Identity to Purchase Crypto?

Buying crypto in exchange for government-issued money (dollars, euros) is working with a regulated business. Know-Your-Customer (KYC) and Anti Money Laundering (AML) rules must be followed by these businesses to stop fraud and illegal activities.

In other words, they store customer information such as identity documents and, in some cases, proof of address. These rules protect you from shady buyers but will ask you for personal details if you want to buy crypto.

What are the Fees for Buying Crypto?

How much you shell out to buy crypto greatly depends on the payment method and platform you utilize. If you purchase from a friend directly for them (and pay them by sending them in crypto), your only fee should be the network fee when sending to your wallet.

Depending on the policy of the particular provider, additional charges apply for using payment methods such as credit cards or transfers. Service fees from exchange platforms change as well to process trades.

Larger purchases are generally associated with higher overall fees than smaller ones. Frequent small buys may not be the best way to save money; however, it is advisable to make big purchases when possible.

Ways to Buy Crypto

That will give you some basics about buying crypto. Now that you understand some basics, let’s discuss how you can purchase crypto in more detail:

Buying Crypto With the Multi-chain Bitcoin.com Wallet app

The Bitcoin.com wallet is a perfect example of how easy it is to purchase digital assets with cryptocurrency wallets. It allows users to buy digital assets directly within the app. It is a self-custodial wallet, which is fully in your control (you always retain control over your crypto).

However, to buy crypto, one can use the Bitcoin.com Wallet app. Open the app on your device, and click on the desired crypto you want to buy: Bitcoin (BTC), Ethereum (ETH), or Bitcoin Cash (BCH). Tap the “Buy” button and do whatever you must to choose the wallet where your funds will be deposited upon funding.

The Bitcoin.com Wallet has a separate wallet for each supported cryptocurrency, allowing you to create multiple wallets to better separate them. For example, you have one wallet for savings and the other for everyday spending.

You’ll need to enter her credit card details and confirm her existence to turn up. From here on, future purchases will be much faster. After completing the transaction, your crypto will be transferred to the chosen wallet.

The Bitcoin.com Wallet provides beyond buying, allowing you to receive, store, and utilize the crypto you buy through other methods. You can purchase crypto in various ways, like peer-to-peer marketplaces, Bitcoin brokerages, and centralized exchanges.

Buying Crypto Using a Brokerage

Cryptocurrency brokerage platforms allow people to purchase or acquire cryptocurrency and other money issues and carry out cryptocurrency exchange trading. eToro, or any other platform, does not offer direct exposure to cryptocurrencies, and there is no way you can ‘trade’ something that you cannot see.

From 2013 onwards, eToro has been a secure, easy-to-use crypto trading platform that safely keeps user funds, charging just 1% for a transaction and transparent pricing. Suppose you want to trade or invest in Bitcoin (BTC), Ethereum (ETH), or many other cryptocurrencies. In that case, eToro is the ideal choice for you in terms of features, tools, assets, and customer support they have available to you.

Unlike other wallets, eToro’s wallet is secure and regulated, free from complex storage management. As digital assets stay locked into the platform, the users do not need to care about the private keys or sophisticated security steps. eToro makes cryptocurrency investing easy using an easy sign-up process and a reliable platform.

Buying Crypto from the Bitcoin.com Website

The Bitcoin.com website is easy to use, and you can buy cryptocurrencies in a few clicks using an easy payment method such as a card or Apple Pay / Google Pay. In the purchase process, you must input a wallet address to which your crypto will be sent.

For instance, a Bitcoin address has a format of 3J57t1XpEZ73CZmQvfksriyiWrnqLhGTLy, whereas that of an Ethereum address is 0xb794f5ea0ba39494ce839613fffba74279579268.

Visit the Bitcoin.com Buy page, select the cryptocurrency you want to purchase, such as Bitcoin, select your preferred amount in USD or your local currency, and proceed to buy. Once you click on “Buy,” you will then have to enter the wallet address.

As mentioned, to use the Bitcoin.com Wallet app, open it, tap ‘Receive,’ select a cryptocurrency, select your wallet, and copy the address. Then, send this address to the website, or if using a desktop, send it to your email for easy access.

Then, ready yourself, make an account, enter your payment details, and proceed with the purchase. The process is simple yet secure and allows you to buy crypto quickly and securely.

Buying Crypto from a Centralized Crypto Exchange

What happens is that when you purchase cryptocurrency through an exchange, the exchange holds the cryptocurrency on your behalf. If you wish complete control over your crypto, you must move it to your self-controlled Bitcoin.com wallet.

However, withdrawal from an exchange depends on whether it has the appropriate policies and fees. Withdrawals from some platforms may take days or weeks, and the fees are far higher than the standard network transaction costs.

The general process of buying crypto from an exchange is easy. To begin with, register on a crypto exchange website and create an account there.

In some cases, you’ll also need to verify your identity, as it is required for the platform. Second, go through the exchange steps to buy your chosen cryptocurrency, for instance, Bitcoin (BTC) or Ethereum (ETH).

After completing the transaction, the crypto you purchased will appear in your exchange account. So, if you prefer complete control, you can transfer your assets from the exchange to a self-custodial wallet such as Bitcoin.com Wallet to store them securely.

Buying Crypto Using a Peer-to-Peer Trading Platform

Peach Bitcoin’s platforms allow people to list their offers as they would with any online marketplace. They make it easy to trade cryptocurrencies because they can act as intermediaries between buyers and sellers.

Moreover, they provide escrow services and dispute resolution to make the transactions safe. These platforms only connect people, not directly with money, and they may not need to verify a person’s identity every time. As a result, such buyers may prefer them for privacy.

Nevertheless, peer-to-peer (P2P) platforms may be less convenient and more expensive than conventional exchanges since the market rates vary by liquidity. Additionally, if you are a frequent seller of crypto on these platforms, your country’s laws may require you to be a money transmitter and need a license.

Most P2P exchanges of user activity typically track reputation. When buying crypto, you’d also want to choose the sellers with good track records; they don’t have written complaints about previous transactions.

By way of P2P exchange, you usually go through the process of browsing the listings by payment method, seller location, amount, and by their reputation. As soon as you begin trading, the crypto is locked in escrow.

After that, pay it either through the agreed method—a face-to-face cash transaction, for example—or through your payment method. Once the seller confirms the payment, he releases the crypto back to your wallet from escrow.

The crypto sometimes comes to this P2P platform’s custodial wallet and sometimes goes directly to your chosen wallet. If that occurs, you may have to transfer it to your purse, and that could have an additional withdrawal fee attached. This fee is how the P2P platform generally makes money.