How To Buy Bitcoin Fast And Safe?

Since 2009, Bitcoin’s popularity has been steadily rising. After a decade of its existence, the original cryptocurrency has surpassed the status of a temporary fad and has become one of the most coveted assets on the planet. 

Consequently, institutional and retail investors want to buy bitcoin and participate in this financial revolution created by the cryptocurrency market. If you are one of them, you’ve come to the right place to learn how to purchase Bitcoin safely. 

In this article, we explore the main advantages of Bitcoin and the best places where you can acquire some in the safest way possible. Additionally, we will take a look at some of the most common wallet types that should help you keep your bitcoin safe. 

Why buy Bitcoin?

Bitcoin is the cryptocurrency that started it all. Created in 2009 by the mysterious Satoshi Nakamoto, this digital coin spurred a movement, making people understand the importance of a decentralized currency, away from the control of the banks and governments. 

Bitcoin has proven to be a solid store of value throughout the years, thanks to some features that are coded into its protocol. One of the biggest advantages of Bitcoin over traditional money is its deflationary model. 

Two properties play in favour of the price of Bitcoin

  • Limited quantity – Bitcoin is limited to 21 million coins, of which almost 19 million are already in circulation. In contrast, FIAT currencies like the USD or EUR have no cap, allowing governments to print more money as they see fit, diluting the value of the money already in circulation. 
  • Controlled distribution – Every 4 years, the amount of Bitcoins miners receive upon discovering a new block is reduced by half. This increases the scarcity of Bitcoin even further, driving up prices higher. 

How to buy Bitcoin safely and where?

Luckily, there are multiple safe ways to buy Bitcoin and start “staking the sats”. However, before you make your initial purchase, make sure you follow our short guide on creating a Bitcoin wallet. 

Before you buy – create a Bitcoin wallet

You see, cryptocurrencies like Bitcoin do not exist in any physical shape or form. Instead, they are records of transactions on the blockchain and can be represented by a private key (used to sign transactions) and a public address (used to receive Bitcoins). 

Because of this, you will need a special piece of software called a Bitcoin wallet to safeguard your keys. There are several types of wallets on the market, serving different purposes. The most common types are: 

  • Mobile wallets – which are smartphone apps that allow you to send and receive Bitcoin. Great for small amounts of Bitcoin. Example: Exodus Wallet. 
  • Desktop wallets – software solutions for your PC that help you encrypt your keys safely on your computer. Great for moderate amounts of Bitcoin. Example: Guarda Wallet
  • Hardware wallets – specialized hardware solutions that allow for cold storage of your keys, while at the same time providing for some day-to-day convenience with their user-friendly interfaces. Great for large amounts of Bitcoin. Example: Ledger

Once you have created your Bitcoin wallet, you can proceed with your purchase using one of the three main methods depicted below. 

Centralized exchanges

Centralized exchanges are the most popular way to buy and trade Bitcoin. Exchanges such as Binance and Coinbase allow you to purchase cryptocurrencies using a wide variety of payment methods including credit cards, bank transfers, or other cryptos. 

However, there is a caveat to this convenience. Centralized exchanges will keep your coins on an online wallet, where you don’t have control over your funds. To remedy this issue, transfer your Bitcoin onto your previously created Bitcoin wallet to retain custody over your coins. 

Crypto brokers

Crypto brokers are a great way to purchase Bitcoin quickly and safely. Platforms like Coinmama or Paybis will require a KYC procedure prior to purchase, but once this is done, you will be free to buy Bitcoin at will. 

The advantage here is that these types of brokers will usually send you your crypto directly onto your wallet, avoiding any third-party custodianship. 

Peer-to-peer exchanges 

Exchanges like Paxful or LocalBitcoins act like the middleman between bitcoin users. They allow you to find other users that wish to sell their Bitcoins using dozens of methods of payment, including credit and debit cards, digital wallets such as Paypal, or even popular gift cards for e-commerce giants like Amazon. 

Bitcoin ATMs

Finally, Bitcoin ATMs are yet another decent method for purchasing Bitcoin if there are machines in your region. They require minimal KYC (phone number is enough in most cases) and you can use credit, debit, or cash to buy Bitcoin. CoinATMradar will help you find the closest Bitcoin ATM to your location. 

Wrapping up

Bitcoin is an increasingly appreciating asset that offers some great advantages. It offers fast and cheap transactions and can be a decent hedge against inflation. By using one of the methods depicted in this article, you will be able to buy Bitcoin quickly and safely, from almost anywhere on the planet. 

Check out: Data Breaches, Protection and Crypto Wallet Security

Most Popular

More from Author

The Basics Of Crypto Exchanges

When you first start investing in cryptocurrencies, you'll want to find...

Top 5 Best Crypto Banks in the USA

Several crypto banks in the USA have been able to become...

Things to Consider When Selecting Best Mining Pool

Before selecting a mining pool, there are several variables that you...

What is Crypto Banking and How Do They Work?

Digital technology is facilitating an era of rapid innovation in the...

Read Now

NFT Marketing Guide for Small Businesses and Startups

Non-Fungible Tokens (NFTs) are sold for millions of dollars and have attracted the attention of investors, tech enthusiasts,  gaming players,  and art collectors worldwide. Today, everyone wants to own an NFT. Therefore, we have compiled the definitive NFT marketing guide for artists in 2022. Not all NFTs, however,...

Top 6 NFT Marketplaces for Creators

NFT Marketplaces provide access to the buying and selling of various digital goods, ranging from art to music to entire virtual worlds. NFT markets are just like the Amazon of the digital world. There are many NFT marketplaces, and many of them specialize in a particular area or...

All About Crypto Investing Strategies and Types of Crypto Traders

Bitcoin is the first modern cryptocurrency, invented in 2009 by Satoshi Nakamoto, an anonymous person or group of developers. There were several former attempts to create virtual coins, such as David Chaum's proposal to create electronic cash in 1983 and the subsequent eCash, Bit Gold, B-money and...

What are Non-Fungible Tokens: NFTs Explained?

Currently, NFTs are sweeping the collectibles and digital artwork industries. Digital artists' lifestyles are changing due to huge sales to a new crypto-audience. And celebrities are jumping in as they recognize a new way to interact with their audience. However, digital art is simply one type of...

Tips For Buying Cryptocurrency Safely And Efficiently

Crypto or cryptocurrency is the talk of the town nowadays. Even if you are unaware of the concept, you would have heard the name from at least a dozen people around you. To invest in cryptocurrencies, you don't require substantial reserves. To start trading cryptocurrencies, you should,...

How can Minnesota be a Suitable US state for Bitcoin Trading?

Cryptocurrency and blockchain technology are becoming more mainstream each day. More businesses are starting to accept cryptocurrencies as a form of payment, and there are even a few cities that have started to experiment with using blockchain technology to help run their municipal governments. One state that has...

Octogamex: First Cross-Chain and Multichain Gaming NFT Marketplace

Truth to tell, 2022 has not been the best for many geopolitical, environmental, social, and financial processes, including cryptocurrency. We could observe a partial drop in the digital asset market throughout the year. There were some tests and problems here and there, but the overall price indicators...

What Are Non Fungible Tokens and Why Are They Valuable?

Non Fungible Tokens are a type of digital asset that is stored in the blockchain. This entirely protects them from counterfeiting. In addition, they are distinctive, which makes them suitable for investments. Whether you're an investor or just curious about the concept, this article will assist you...

9 Benefits Of Investing in Cryptocurrencies

Cryptocurrency has gained popularity in the recent past. It has surely attracted the attention of many investors and consumers due to its flexibility and hassle-free transactions. Moreover, when it comes to crypto trading, the marketplace is open 24/7, so it enables you to do trading anytime and from...

HOW to Use a Crypto Calculator?

There are many cryptographic forms of money, most with very little worth and muddled potential. Numerous consultants prescribe that financial backers stick to Bitcoin and Ethereum — if any — and pass on the more modest cryptos. Driving digital money media source, CoinDesk keeps a Coindesk 20 rundown...

Understanding the Difference Between Cryptocurrency and Blockchain

At first glance, the words cryptocurrency and Blockchain may seem interchangeable. You may wonder what the difference is. There is a significant distinction between these two ideas. We typically use the phrases cryptocurrency and Blockchain interchangeably when discussing digital assets. Given the complexity and intricacy of this new technology, understanding...

The Proper Way of Bitcoin Trading [A Definitive Guide]

Bitcoin is one of the most well-known and lucrative digital currencies in market size and valuation, drawing various investors. In the finance sector, this has acquired more traction as an asset. It was also used as a tool of payment by numerous businesses. This article will help you understand basic...