How to buy Bitcoin as a beginner? We’ll present a complete procedure and platforms to use in today’s article. Interest in buying Bitcoin is constantly growing. There’s nothing surprising about this, as it’s the world’s largest digital asset, whose capitalization is only surpassed by precious metals, gold and silver.

Most investors use the option of buying Bitcoin on centralized exchanges, but this method brings not only advantages but also disadvantages. A certain group prefers, for example, buying through Bitcoin ATM, which is something completely different from buying through a centralized exchange.

The once complicated process of buying Bitcoin is now very simple even in Slovakia. Regardless of the method you choose, you must place high emphasis on security. Let’s look together at how to buy Bitcoin.

How to Buy Bitcoin on Binance

The first, probably most frequently used option, is buying Bitcoin on a centralized cryptocurrency exchange. Investors can choose which one they prefer, but we recommend the Binance exchange. The reason is that Binance is unquestionably the world’s largest cryptocurrency exchange and has the highest liquidity.

Besides liquidity, the exchange provides maximum security and trustworthiness. The relatively low fees are also attractive. Now we’ll look at the specific procedure on how to buy Bitcoin on the Binance exchange.

Bitcoin Purchase

Of course, you can also choose the option of buying via Visa card and you can even use automatic purchase, which averages the price. However, this option is only available with Visa card payments. The minimum amount in this case is 15 euros.

How to Buy Bitcoin Anonymously

If you buy Bitcoin through a cryptocurrency exchange, you must verify your identity through KYC (Know Your Customer). You upload your personal identity document to the exchange, scan your face on camera, and the exchange verifies that the account is yours. Only then can you trade cryptocurrencies. The platform protects you from money laundering, but you lose anonymity.

And here comes the possibility of buying Bitcoin anonymously through ATM. Today it’s no problem to buy cryptocurrencies at cryptocurrency ATMs, as their network is constantly expanding. However, anonymity also brings higher fees. You can find a detailed fee table in each ATM’s profile.

Using cryptocurrency ATMs, you can buy cryptocurrencies within minutes and don’t even need identity verification. First, you scan a QR code or address, then insert money into the ATM and receive cryptocurrency.

Other Ways to Buy Bitcoin

To buy Bitcoin, you can basically use any platform you consider suitable. A frequent choice is, for example, the Coinbase exchange, which offers a relatively cheap and fast way to buy and sell cryptocurrencies. You can also choose other exchanges like crypto.com, Simplecoin, or Huobi.

But there are also other ways that we haven’t introduced so far. You can also store Bitcoin on your own wallet. You can choose a software wallet, for example Exodus, or a hardware wallet, for example Trezor. In both cases, you have a private key to your cryptocurrencies. This means that unlike previous options, the owner of such a wallet is the actual holder of cryptocurrency. For example, on an exchange you’re not the owner because you don’t have keys.

The last option for getting Bitcoin is to mine it directly. When mining, you must take the following factors into account:

• Country: each country may have different legislation and conditions for mining. Nordic countries have better conditions due to low temperatures.
• Operating costs: availability of electrical energy that you need for the device. It directly affects profitability.
• Mining method: you can mine as an individual or participate in mining through a mining pool, which represents a kind of collective investing.
• Device selection: you must choose what device you want to use. Look at return on investment and other factors in advance.

In conclusion, we can evaluate that there are many ways to buy Bitcoin. It’s only up to you which of these options you prefer. Someone doesn’t need to be the owner of cryptocurrency, and conversely, someone requires it. Today you don’t have to participate in the cryptocurrency market at all and despite this, you can earn from Bitcoin’s price movement. On the other hand, cryptocurrency fans prefer cryptocurrency wallets.