How to Buy Bitcoin
Investing in Bitcoin?
Investing in Bitcoin could potentially result in a big payoff, although Bitcoin investments — like most investments — are much riskier than saving in a bank. Savings are usually guaranteed — investments are not. But you don’t have to invest tons of money and get a whole Bitcoin. Invest as much as you want: Spend a few hundred bucks, purchase fractions of a Bitcoin and start building your portfolio. The biggest Bitcoin’s drawback is that it’s too volatile: The price can swing in both directions unpredictably over a short period of time. The majority of people buy and sell Bitcoin on “regulated” Bitcoin exchanges. For the longest time, exchanges have been sought as the weakest link in the whole Bitcoin ecosystem. Through the years, many exchanges have gone bust robbing people of all their deposits. But much has changed. Now, regulated exchanges operate under strict control, and the more regulated they are, the more protections they give to the traders. However, if you are unbanked or don’t want to give any personal info to the Bitcoin exchange, there is a simple fix for that: You can buy BTC with no verification on a peer-to-peer, anonymous Bitcoin exchange. It is much riskier than trading on a regulated exchange, but anonymous exchanges let you buy Bitcoin instantly, no verification needed.
The majority of people buy and sell Bitcoin on “regulated” Bitcoin exchanges. For the longest time, exchanges have been sought as the weakest link in the whole Bitcoin ecosystem. Through the years, many exchanges have gone bust robbing people of all their deposits. But much has changed. Now, regulated exchanges operate under strict control, and the more regulated they are, the more protections they give to the traders. However, if you are unbanked or don’t want to give any personal info to the Bitcoin exchange, there is a simple fix for that: You can buy BTC with no verification on a peer-to-peer, anonymous Bitcoin exchange. It is much riskier than trading on a regulated exchange, but anonymous exchanges let you buy Bitcoin instantly, no verification needed.
What Is Bitcoin?
Bitcoin (also known as BTC) was the first so-called “cryptocurrency” — and although there are other cryptocurrencies out there, Bitcoin has remained the largest and the most vibrant. A Bitcoin transaction is like every other digital transaction, except it works peer-to-peer, so there is no need for a bank to act as the intermediary between you and the Bitcoin seller. You can buy Bitcoin online directly from another person while you both record the transaction to the blockchain. The blockchain is built around a complicated cryptographic protocol and almost impossible to hack. All transactions on the blockchain are secure and verifiable.
Bitcoin is all about financial freedom. It is a terrific technology — and a complicated one. There are different ways to obtain BTC. You can buy BTC with a bank account or you can mine it with a mining rig. (However, the Bitcoin mining machine price and expenses that come with mining make it hard to profit from it in any significant way.) You can buy Bitcoin with a debit card or you can buy BTC with a CC. You can even get Bitcoin from someone for cash. All you have to do is search “Buy Bitcoin near me” or “Bitcoin dealers near me” and arrange a meet-up with a seller. Pay him the Bitcoin price in cash, and he will send BTC to your Bitcoin wallet. In the near future, you will be able to buy Bitcoin with PayPal or convert Bitcoin to PayPal in an instant at any PayPal to BTC exchange.
Is Bitcoin a Good Investment?
Bitcoin is an exciting and encouraging technology, but there is still a lot of uncertainty about it. It’s a high-risk, high-reward investment asset. Any number of events could cause its value to decline. But where there’s a risk, there’s an opportunity. The number of people interested in crypto has surged. Big-name investors are putting their money into BTC. Even PayPal has finally embraced it. Soon, PayPal will begin accepting Bitcoin, giving its customers the ability to convert PayPal to Bitcoin, trade, hold, and sell it. PayPal’s endorsement further proves that BTC has a bright future. Cryptocurrencies are more convenient and more secure than traditional financial networks. If widely adopted, cryptocurrencies could usher in a new era of convenience.
The crypto market has matured over the years, but the upside and limitations of BTC are still unclear. Many investors are still not sure what place it has in their portfolio. There are plenty of predictions for what will happen to BTC in the near-to-long term. Even if cryptocurrencies end up taking over the financial world, there is no guarantee that Bitcoin will be the crypto of choice. In short, the question of whether to invest in BTC depends on who you ask, your own financial goals, and your risk tolerance.
How to Pick a Bitcoin Wallet?
A common way to get Bitcoin is to create an account on a reputable cryptocurrency exchange like P2B and actually exchange your money for the crypto. To hold your BTC and other crypto assets, you will need a digital wallet.
Digital wallets come in different shapes and with different features:
- Mobile wallets are housed in an application on your mobile device. A mobile wallet is a good way to make in-store payments and face-to-face transactions. It is portable and designed to use QR codes.
- Desktop wallets are more secure and have more features than mobile wallets, but you can use them only on your desktop or laptop. Desktop wallets fall into two main categories: full-node wallets and lightweight wallets.
- Hardware wallets are highly secure, but they are not free. Also, they are a bit clunky to use in practice. If you somehow lose your hardware device without proper backup, your assets will be unrecoverable.
However, the easiest way to store your crypto assets is through a reliable exchange like P2B. We provide our clients with a free and secure digital wallet. You can transfer BTC from P2B wallet to your personal wallet whenever you like. Remember that since your personal wallet is, well, PERSONAL, it is your responsibility to keep your assets safe.
A Step-by-Step Guide to Buying Bitcoin
Please note that signing up with our Bitcoin exchange is somewhat similar to opening a traditional bank account and will require verification.
Step 1: How to Sign Up for a P2B Account
- Click the “Register” button near the upper right corner of your screen.
- Enter the email and set a password.
- If you are a U.S. citizen, check “Yes, I am”. If you are not a U.S. citizen, check “No, I am not”.
- After finishing the form, click the “Sign-Up” button.
- Click the activation link in the email. (If you do not receive the email within a few minutes, check your spam folder.)
- Login with your email and your P2B account password.
Welcome to our exchange.
Step 2: How to Verify Your P2B Account
Know your customer (KYC) is a process to verify the identity of account holders before conducting a transaction. On P2B exchange identity verification is mandatory. To verify your account, we need either the photo of your Passport (bio-data page), National ID card (front and back sides), or Driver’s license (front and back sides).
We cannot verify your account without the selfie attached. To finish the registration, please upload the selfie of yours with:
- The document that you submitted before (passport/ID card/driver license).
- The sheet of paper with P2B word and the current date.
Step 3: How to Deposit Funds to Your P2B Account
Our exchange offers multiple deposit methods.
To deposit funds:
- Click on the Wallet button near the top of the page.
- In the drop-down menu, select Deposit.
- Choose your currency.
- Type in the amount you want to deposit.
It may take a few days for the transaction to be processed, but we make the deposited funds available right away, so you can buy Bitcoin instantly. Don’t forget to check for minimum deposit amounts: A deposit below that amount can be lost.
Step 4: How to Buy Bitcoin
- Click “Trade” near the upper left corner of the page.
- Go to the Market tab, find your currency (BTC) and double-click on it.
- Type in the amount you want to purchase. (Total amount should not exceed your balance.)
- Click the “Buy BTC” button.
Check your orders either on the Trade page or in the Orders tab. Don’t forget to transfer your funds from the Main Account to the Trading Account before placing an order.
Thanks to our integration with Simplex, P2B is one of the best places to buy Bitcoin with a credit card. (Please note that we strongly advise against going into debt to buy cryptocurrencies. Bitcoin is too volatile and is not a good asset to leverage.)
Here on P2B you can buy Bitcoin with a Mastercard or Visa.
To do so:
- Click on the Wallet button near the upper right corner.
- Select “Buy Crypto”.
- Click “Buy Bitcoin with a Credit Card”.
- Choose the type of currency and the amount you want to spend on BTC.
- Click the “Buy now” button.
The Benefits of Buying Bitcoin Through P2B
P2B is registered in Estonia and EU-licensed. Our priority is to allow our clients to purchase Bitcoin with convenience while operating legally and safely. We utilize advanced security methods and technologies to make sure our clients’ crypto assets are well-protected.
With us, you get:
- multiple supported currencies
- multiple payment methods
- fast peer-to-peer transactions
- an optimized user interface
- focus on security
- multilingual 24/7 support
- the lowest fees to buy Bitcoin.
At the P2B, we set our trading fees at 0.20%, which is below the market average of 0.25%. For specific types of orders, transaction fees may vary because some cryptocurrencies have additional fees within their blockchains. We inform you of the fees beforehand, prior to the execution of your order.
Please remember that even the safest Bitcoin exchange can’t protect you from your own poor decisions. It is your responsibility to practice smart investing and take good care of your money.