The most popular question many people have is where can I buy cryptocurrency today?
This mini-guide outlines specific ways to use and purchase digital money. We hope you find the information useful in the ever-changing world of cryptoassets.
4 reasons why you need cryptocurrency
Over the past 10 years, it is bitcoin that has become the most profitable asset, not oil, gold or government bonds. Other digital coins have also shown high demand. There are four main reasons why you should try buying cryptocurrencies:
- Low-cost transactions. Fast digital transfers with low fees have become an alternative to existing banking and other traditional payment systems. The method is particularly relevant for circumventing sanctions against Russian citizens.
- Investment potential. Crypto trading is gaining momentum – it is a quick and easy way to earn money by buying digital assets now and selling them at a higher price later.
- Payment for goods and services. Digital money has become a trend in online and offline payment listings. You will find shops that accept crypto in Russia or any other country on specialised websites. For example, Coinmap has an interactive map with all the outlets in the world.
- Financial products. It is convenient to use cryptocurrency for lending without processing with a bunch of certificates or for saving with a high interest rate, excluding intermediaries.
The first property sale with digital money was in Canada in 2013, and in 2023 it will be commonplace. It is only a matter of time before the financial system is fully transitioned to blockchain globally.
Where to safely store digital money
Before buying crypto-assets, you need to think about the question – what kind of cryptocurrencies and tokens are required for your purpose. Based on the type of digital coins chosen, you determine the place for safe storage. Bank cards are not suitable for this yet, but such projects are already coming to life. The first Mastercard integration into USDC will be launched in June 2023 in Australia.
Virtual money requires special computer programmes – cryptocurrency wallets – and physical devices. PCs, tablets, smartphones (for hot wallets) and special flash cards (cold wallets) are suitable. You can download a cryptocurrency wallet from an app shop, from a developer’s or intermediary’s website, register it on a crypto exchange or in your Telegram account. You will find details on our website, follow the links to the right section and study the algorithms of various resources.
10 options for buying cryptocurrency
There are many ways to buy cryptocurrency online – use a credit card, make a bank transfer or through electronic payment services such as Skrill, Neteller, PayPal and many others. Let’s look at some practical ways to buy virtual currencies, including cash payment.
1. Online exchanges
Verified sites can be found on various aggregators, Bestchange, ExchangeSumo, KursExpert are popular. P2P transactions are used. You transfer rubles, hryvnias, dollars to the account of another individual specified by the exchanger. And then digital money is transferred to your cryptocurrency wallet address. Through the system of exchangers with P2P transfers it is possible to buy any popular digital coins with payment in all traditional currencies (fiat).
Pros
- large selection of exchangers
- anonymity and familiar payment methods
- fast sending of cryptocurrency to your wallet
- exchange of fiat for cryptocurrencies in hundreds of directions
Cons
- floating commission, which differs depending on the destination
- there is a minimal risk of fraud, getting “dirty” crypto
- limited transaction size
2. Cryptomachines
The terminals are called ATMs and look like ATMs. They are available in all major cities of the Russian Federation, Ukraine, Kazakhstan and other countries. You can find the addresses of crypto-mats on the map coinatmradar.com
Pros
- conveniently and quickly
- card and cash payment
- confidence in the “purity” of cryptocurrency
- anonymous purchase without registration and documents
Cons
- usually limited to Bitcoin (BTC) or buying Etherium (ETH)
- higher commissions, on average 13% higher than on the internet
3. Crypto exchanges
Buying currencies through crypto exchanges has its pros, including a wide selection of assets and liquidity, but also cons, such as security risks and commissions.
Pros:
- Wide range of currencies: Crypto exchanges typically offer a wide range of cryptocurrencies for purchase, allowing investors to choose from a variety of assets.
- Liquidity: Large crypto exchanges often have high liquidity, making it easy to buy and sell cryptocurrency at market prices.
- Multiple payment methods: Many crypto exchanges support multiple payment methods such as bank cards, wire transfers, and electronic payment systems.
- Trading: In addition to buying, crypto exchanges also allow you to trade cryptocurrency, which provides an opportunity to make money from price changes.
Cons:
- Security: Some crypto exchanges face security issues such as hacking and asset theft, so it’s important to choose trustworthy platforms.
- Commissions: Crypto exchanges may charge commissions for buying, selling and withdrawing cryptocurrency, which can affect the final cost of the transaction.
- Regulation: In some countries, crypto exchanges are heavily regulated or even banned, which can restrict access to certain platforms.
- Incomplete anonymity: Unlike cash, purchases on cryptocurrency exchanges can leave a digital footprint, which does not always fulfil users’ demands for anonymity.
4. P2P platforms
Ads sites help in buying/selling cryptocurrency transactions without intermediaries. The platform acts as a guarantor and helps to carry out the exchange. Chat with the second party is possible. Proven sites Bitpapa, SkyCrypto, LocalCoinSwap. A similar service is offered by some crypto exchanges (Bybit).
Pros
- any payment methods with fiat
- direct transfers without intermediaries in exchange conditions
- possibility to store cryptocurrencies
cons
- low exchange speed;
- changes in the exchange rate lag behind the exchange rate (in case of a sharp rise in price it is even a plus);
- the possibility of fraud, you need to carefully check the seller;
- small selection of cryptocurrencies.
5. EPS payment systems
Electronic money transfer services are created for the convenience of payment transactions on the Internet. They work with bank cards. They support digital coins Webmoney, Payeer, NixMoney, AdvCash, Capitalist.
Pros
- exchange of fiat to crypto and vice versa
- in one account wallets for conventional currencies and cryptocurrencies
Cons
- verification is required for full use
- EPS commission in each transaction
- small purchases are not profitable
6. Personal contacts
Buying cryptocurrency for cash with the help of a courier is like in exchangers. Find contacts of a reliable seller in a particular city through Bestchange. Or contact directly through the rating system on P2P platforms.
Final words
We tried to explain how to buy cryptocurrency as clearly as possible. Choose crypto assets, reliable wallets and exchange services on our website. Buy on a reliable cryptocurrency exchange. Don’t forget to adhere to security guidelines.
The sector is rapidly developing and new places to buy cryptocurrency appear regularly. So come back to our website for the latest news on how and where else to buy cryptocurrency.