How to buy cryptocurrencies: safe and profitable ways to buy digital currencies

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The crypto market is getting on its feet more and more confidently every year. Today, even many skeptics are convinced of its prospects, who previously dismissed the possibility of a serious perception of this sphere. Therefore, the question of how to acquire cryptocurrency arises from novice users more and more often. There are many ways, but which one is the most profitable and convenient? The editorial staff of Btcnewsweb.com offers you an overview guide on methods of purchasing cryptocurrency in 2022.

What cryptocurrency to buy

Consider for long-term investment only those projects that have proven themselves well over the years. At the same time, assets that have just entered the market are suitable for quick and risky earnings, but this is more likely an option for professionals, because it is very easy to lose your money in a matter of hours. Experts usually recommend investing in those assets that are in the top 10 in terms of market capitalization. This parameter is much better than the rate characterizes the community’s trust in a particular coin.

To date, the most capitalized cryptocurrencies are:

  • Bitcoin
  • Ethereum
  • XRP
  • Polkadot
  • Cardano
  • Chainlink
  • Litecoin
  • Bitcoin Cash
  • Stellar
  • Binance Coin

When choosing a cryptocurrency to purchase, conduct your own analysis – find out more about the developers and plans of the project, whether it is supported by any large company, exchange, etc., how interesting and useful the product behind the coin is.

How to buy cryptocurrency in Russia and the world

There are seven main ways to buy digital coins today.

1. Cryptocurrency exchanges

Examples: Binance, Currency.com, Cex.io, EXMO

Acquisition of cryptocurrency for rubles on the Binance exchange

The capabilities of crypto exchanges allow you to use bank cards and e-wallets to buy digital assets. In most cases, this requires the user to verify their identity (confirmation with a passport or other identity). Cryptocurrency on the exchange is purchased as follows:

  1. Create and confirm an account.
  2. Go to the “Wallet” or “Balance” section and top up your account with the currency that suits you. Follow the instructions of the payment provider or EPS through which the payment will be made.
  3. Go to the “Buy Cryptocurrency” section or similar to exchange fiat money for coins. Keep in mind that the minimum and maximum limits are usually set for the exchange, for example, from 3000 rubles.

It is advisable to withdraw the cryptocurrency to the wallet after the purchase in order to store it in a more secure and free way.

See how to make a deal to buy or sell cryptocurrency on the Currency.com exchange:

2. Cryptocurrency exchangers

Examples: Magnetic Exchange, 365cash, NiceChange, MChange. More exchangers on the page.

Purchase of cryptocurrency through NiceChange exchanger

The essence of such services is to support a variety of payment systems and wallets, as well as bank cards, and provide the ability to quickly exchange between them in any direction. To use the exchanger to purchase cryptocurrencies:

  1. Find a service that suits you according to the conditions (supported payment systems, favorable rate). The BestChange site or the list on our site will help you with this.
  2. Register and, if necessary, confirm your email.
  3. Select the desired direction of payment. If you plan to buy from a card, then some exchangers require its verification.
  4. Enter information in the proposed fields – usually these are wallet details for sending and receiving, a discount coupon, sometimes the last name, first name and patronymic of the sender, etc.
  5. Confirm the creation of the application. Pay for it within the specified time.

Wait until the application is processed and your cryptocurrency will be transferred to your wallet.

3. Electronic payment systems

Examples: AdvCash, Capitalist, Payeer

Acquisition of cryptocurrency through the AdvCash payment system with crediting to Binance

These payment systems allow you to simultaneously work with both cryptocurrencies and fiat money, which makes it possible to quickly manage assets without unnecessary and costly transactions. AdvCash, in particular, can work in conjunction with the Binance exchange, so you can buy crypto through it directly to the exchange account.

How to purchase cryptocurrency through Payeer or Capitalist:

  1. Register in the system, and then add fiat money assets to your account (rubles, dollars, euros are supported).
  2. Go to the “Exchange” or “Conversion” section.
  3. Choose which of your accounts you want to exchange.

The operation is performed instantly, after which you can freely work with the purchased asset, for example, withdraw it from the EPS.

4. Cryptocurrency wallets

Examples: Trustee Wallet, Atomic Wallet, Trust Wallet, Matbea, Blockchain.com

Purchasing cryptocurrency through the Atomic desktop wallet

Check if your crypto wallet supports direct purchase of cryptocurrency from a card. Many applications are equipped with this feature. In this case, you do not need to make unnecessary transactions, but you need to take into account that the commission can also be quite large (5-10% of the amount – for comparison, the trading commission on most exchanges does not exceed 0.1%).

How to purchase crypto through a wallet:

  1. Find a section called Buy Crypto or similar.
  2. Indicate which coin you want to buy and which currency to give.
  3. Enter the amount. Check out the fees and limits.
  4. Click “Continue” and follow the further instructions. These can include entering payment information such as card details.

Funds are credited to the wallet either instantly or within a few minutes.

5. p2p platforms

Examples: Cryptolocator, Bitpapa, Paxful, LocalCryptos, Monabey, Binance P2P, HodlHodl.

Acquisition of cryptocurrency through the LocalCryptos p2p platform

Platforms of this format differ from ordinary exchangers in that the site here has nothing to do with the formation of the market: users themselves create ads on favorable terms, while others accept or reject them. In addition, fiat money funds are transferred directly without the participation of the service, and the cryptocurrency is delayed in the escrow account until the seller receives payment. This provides more security and decentralization.

How to use the p2p platform:

  1. Go to the “Buy” section and sort all available offers based on which currency you want to buy, which one to give, how to pay for the purchase.
  2. Go to the desired deal, where you can find out more about it, as well as chat with the seller.
  3. Transfer fiat money funds to the merchant to the card / EPS, depending on the method chosen.
  4. When the seller receives and confirms your payment, the cryptocurrency will be credited to your wallet address.

In case of disputable situations (for example, you sent fiat money, and the seller claims that he did not receive it), an application for arbitration is created. Exchange employees sort it out, study the evidence of both parties and make a verdict on who the crypt should go to. Experienced, highly rated sellers are usually not a problem.

Check out the overview of the Binance P2P platform:

6. Telegram bots

 Examples: @BZ_CHANGE_BOT; @ BTC_CHANGE_BOT; @BitpapaExpressBot, @CRYPTOLOCATOR_BOT, @NiceChange_bot

Acquisition of cryptocurrency through the BTC Banker bot in Telegram

There are many bots in the Telegram messenger that automatically perform any actions without human participation. If we talk about bots for buying / selling digital assets, then there are two types of them:

  • Bots of p2p platforms. In the process of work, they search for offers from the platform to which they relate, and allow them to interact with them.
  • Exchange bots. They rely on information (rates, reserves, etc.) from the sites of the exchangers that they own.

Based on this, the sequence of work will be slightly different, but no problems should arise – all control is done by pressing buttons in the chat, almost always there is also a section “Help” or “Help”.

7. Crypto ATMs

Devices similar to ATMs are used if you want to buy cryptocurrency with cash. Sites to find ATMs closest to you:

It is quite easy to use a cryptomat. You need to select the required cryptocurrency on the screen, indicate the amount to be purchased, and familiarize yourself with the commission. Enter the required amount of payment in cash or (if there is a card collector) from the card. Scan the QR code with the mobile wallet address. After a while, sufficient to process the transaction in the blockchain, the funds will go to the wallet.

Where to safely store cryptocurrency

When you have decided where to buy cryptocurrency, you should take care of a safe place to store it. Cryptocurrency wallets are custodial or non-custodial, hot or cold storage and are divided into the following types:

  • Mobile. They are downloaded from Google Play or the App Store, usually have a lightweight interface and allow you to quickly manage your cryptocurrency anywhere and anytime.
  • Desktop. They are downloaded from the official websites of developers and are considered the most functional and secure option (from software).
  • Web wallets. They do not require installation, work with them is carried out from a browser from any convenient device equipped with the Internet.
  • Hardware (Trezor, Ledger, KeepKey). They differ from software options in that access keys are stored on a physical device completely autonomously from the network, and therefore from hacker attacks.
  • Paper. This option is also intended for offline key storage, but does not incur the cost of purchasing a hardware wallet. All you have to do is print the keys on paper and store them in a safe place.

When choosing a wallet, pay attention that it supports the cryptocurrency that you are going to purchase. Also, start from what operations and how often you will carry out. Depending on this, some options may be more convenient than others.

Read also: what are the wallets for storing cryptocurrencies.

Conclusion

Summing up – in order to purchase a cryptocurrency, you need to choose the most promising and reliable asset, select a high-quality wallet for storing it, and then use any of the methods we have listed to replenish the wallet. Analyze every step to keep your assets safe, evaluate the services you choose based on their reputation and functionality. And then the acquisition of the crypt will not cause any difficulties.

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