By early 2023, the number of bitcoin users worldwide exceeded 100 million. In some countries, such as El Salvador, the first cryptocurrency even received the status of official means of payment.
And, of course, the most important question – where and how to buy bitcoin? First of all we advise you of a reliable resource where you can get bitcoin with Mastercard or VISA in less than 5 minutes – azondo.com.
One of the most reliable and popular ways to buy and sell cryptocurrency worldwide is p2p-platforms. It is difficult to separate them into a separate category, because p2p-platforms can be presented both on cryptocurrency exchanges and in the form of exchange services. This does not mean that every p2p platform is completely reliable and secure. No, just that there are relatively reliable platforms with positive reputations that have proven themselves in the market. In addition, p2p is also interesting because of the way it works.
Buying through a p2p service means buying from another person trading on some platform.
Whereas on a centralized exchanger you actually buy and sell cryptocurrency from its administration, in p2p you buy from other users. In short, p2p is kind of like a market where there are many sellers and everyone sets their prices. You choose who you want to buy cryptocurrency from and make a deal with them. The platform itself guarantees the deal, and everything is governed by trivial market supply and demand.
But how do you know which seller to buy from on p2p? The fact is that such sites tend to have an institution of reputation, and honest and trusted sellers will have a lot of positive feedback. On the other hand, buying from those who offer cryptocurrency at very low prices and have negative reviews can be risky. It’s like that saying about the miser who pays twice.
These services take into account the number of transactions made by the client. The higher this number, the higher the success rate. Naturally, this deserves more trust from the cryptocurrency exchanger. Low numbers lead to doubts and do not inspire confidence.
Some analysts point out that when choosing p2p platforms, there remains a potential danger associated with the source of the money. The funds a customer transfers may be the result of some criminal activity. At the very least, the possibility of “dirty money” remains. However, experts admit that senders themselves try to avoid dubious transfers. But one should be very careful when using such services.
Buying bitcoin offline
But bitcoins don’t have to be bought online. There are several ways to buy cryptocurrency offline, for cash. The cheapest and fastest is to buy from a private individual. Various platforms, such as bitcoin.org/en, arrange private meetings between buyers and sellers if they are in close proximity to each other. But remember that such trading is anonymous and unregulated.
In addition to bitcoin.org/en and Localbitcoins, there are other exchanges where you can buy bitcoin. In some cities, there are even bitcoin vending machines where you can buy bitcoins on the spot. The principle of their operation may differ depending on the manufacturer, but the essence is the same: cash is put into the machine, then the wallet is scanned, and the bitcoins are stored in a virtual wallet or on a smartphone.
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Bitcoin’s market capitalization depends on the number of coins in circulation and the rate of the cryptocurrency. The amount of currency is constantly growing due to mining. The complexity of mining is also increasing, and this has a lot to do with the growth of the rate. Today, the total mass of bitcoins in circulation is more than 17 million. The current market capitalization of bitcoin is $140 billion. Bitcoin is a highly capitalized currency and is resistant to small market fluctuations. The sharp rise in the rate at the end of 2017 occurred against the backdrop of increased demand for cryptocurrencies in general. This was influenced by numerous ICOs, the legalization of bitcoin in Japan, the decision to switch to the SegWit2x protocol, numerous events and exhibitions.
Risks of buying on the stock exchange
It is worth recalling that large exchanges are often subject to attacks and hacking by hackers. No wonder, because the centralized storage of piles of money attracts various attackers. Therefore, if you are worried about your savings, storing cryptocurrency on a centralized exchange for a long period of time is not a good idea. On the other hand, if you actively trade it, it will be quite expensive to constantly withdraw and deposit small amounts, given the exchange fee.
To summarize, the following recommendations can be made:
1. It is best to buy and sell cryptocurrency on reputable and trusted exchanges and crypto-exchanges. Some exchanges and exchangers are unreliable, their creators can misappropriate your money, leak personal data and so on.
2. Choose a platform by reviews and recommendations. There are entire aggregator sites, which allow you to read the reviews of real users.
3. When buying on a p2p-platform, choose a seller with a positive transaction history and good reviews, not someone who offers cheaper.
4. Do not break the law if certain actions with cryptocurrency, as well as its circulation, are illegal in your country. Study the legal framework in advance and consider all the risks.
5. In some countries, certain crypto-exchanges have introduced restrictions for users. There is a possibility that other major platforms may follow their example in the future.
6. You should not keep large amounts in cryptocurrency wallets of exchanges and exchanges for a long time. If you plan to “buy and forget” – withdraw bitcoins to a more reliable cryptocurrency wallet.
7. Remember that transactions with bitcoins and other cryptocurrencies are irreversible. Carefully double-check sender and recipient addresses. If you send bitcoins to the wrong address, you will not be able to cancel the transfer.
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