Most novice traders wonder how to buy Bitcoin without commissions, but it must be safe (we mean financially safe), because even a small mistake when buying cryptocurrency can lead to loss of capital. Simple instructions will help to avoid it. Following them will protect you from fraudsters and other possible problems. A novice user can make many mistakes when buying bitcoin, each of which can lead to loss of capital. There is a risk of transferring funds to an exchange created by scammers, overpaying for coins due to an inflated rate or commissions, and entrusting assets to an unreliable platform.
We will consider 4 ways to buy BTC:
Buying Bitcoin with a bank card
Experienced traders prefer Binance. Binance is the world’s largest cryptocurrency exchange, trusted by millions of users. With them, buying cryptocurrency is a fast, easy and safe transaction. Also, their big advantage is the 24/7 customer support service.
Sign up with your email address or mobile number and set a strong password. Or download and open the Binance cryptocurrency trading app from the App Store or Google Play. There are two main ways to buy Bitcoins on Binance crypto exchange:
You can link your debit/credit card :
1) Select (1) “Buy Crypto” then click (2) “Credit/Debit Card” on the top navigation.
3) Enter the amount you want to enter into the exchange
4) Add the credit card and push continue. That’s all.
Or bank account or buy cryptocurrency directly from other users via P2P transaction(Peer to Peer) trading is also known as P2P (customer to customer) trading in some regions. In a P2P trade user directly deals with his/her counterparty, exchanging the fiat asset offline and confirming the transaction online. Once the offline fiat asset exchange is confirmed by both parties, the digital asset is released to the buyer.
A P2P platform serves as the facilitator of the trade by providing a platform for buyers and sellers to broadcast their offers. At the same time, the escrow services of online digital asset ensure the safety and timely delivery of digital asset during trade execution.
1) Select (1) “Buy Crypto” then click (2) “P2P Trading” on the top navigation.
2) Click (1) “Buy” and select the currency you want to buy (BTC is shown as an example). Filter the price and the (2) “Payment” in the drop-down, select an ad, then click (3) “Buy” .
3) Enter the amount (in your fiat currency) or quantity (in crypto) you want to buy and click (2) “Buy”.
4) Confirm the payment method and amount (total price) on the Order Details page.
Complete the fiat transaction within the payment time limit. Then click “Transferred, next” and “Confirm”.
Note: You need to transfer the payment directly to the seller through bank transfer, Alipay, WeChat, or another third-party payment platform based on the seller’s payment information provided. If you have already transferred payment to the seller, you must not click “Cancel” unless you have already received a refund from the seller in your payment account. If you do not make an actual payment, please do not click “Confirm” to confirm the payment. This is not permitted according to the rules of the transaction. If you encounter any issues during the transaction, you can contact the seller using the chat window.
5) Once the seller has released the cryptocurrency, the transaction is completed. You can click (2) “Transfer to Spot Wallet” to transfer the digital assets to your Spot Wallet.
You can also click (1) “Check my account” above the button to view the digital asset you just bought.
Note: If you do not receive the cryptocurrency 15 minutes after clicking “Transferred, next”, you can click “Appeal” and Customer Service will assist you in processing the order.
From the disadvantages of this platform we can name :
How to buy BTC anonymously?
To buy Bitcoin anonymously you can use BestChange exchange monitor. When you go to the site on the left side you need to choose a currency which you give and on the right side a currency which you receive, in our case it is Bitcoin.
After these actions on the right side will be displayed all available exchangers. In each line at the beginning will be the name of the exchanger (1), its characteristics (2), the exchange rate (3), the minimum amount of exchange (4), how many bitcoins are available – the reserve (5) and feedback on the exchanger (6). Select the exchanger that suits you and click on it.
Then you go to the page of the exchanger, and all the actions are performed on its site. As a rule, they are standard, you make a transfer of your currency to the wallet of the exchanger, and he, in turn, makes a transfer from his wallet to your crypto wallet. It is also worth noting that for all actions you need to have your own bitcoin wallet.
How to buy bitcoin for cash
You also can buy bitcoin without a bank account. The method itself is quite risky, but it still has the right to exist. The essence is simple: on specialized forums, you find a seller in your area, which has bitcoins and arrange a personal meeting. At which you make an exchange of regular money for bitcoins.
This method can only be used if you personally know and trust the seller. Otherwise, there is a very high risk of running into a scammer. Do not forget that bitcoins are not coins in the physical sense, you can not take them in your hand and touch them. There were cases in some cities, when swindlers were selling coins on the streets, pretending they were bitcoins.
How to buy bitcoins through PayPal, Skrill and others
Undoubtedly, these payment services are tightly integrated into our lives. They have been used for quite a long time and for many people this method of payment seems to be the most convenient. Indeed, payment via these services is safe and convenient.
Before selling cryptocurrency using an online wallet, make sure that the sender’s transaction will not be blocked due to restrictions on the amount or country of transfer. Before opening a transaction, read the terms and conditions of the offer. They contain brief instructions on how to pay.
After you open a transaction, you will see more detailed instructions for the transaction. The seller’s requirements may vary depending on the payment method you choose. For example, when using wallets such as PayPal, Skrill and Neteller, you need to provide a snapshot of your ID.To buy cryptocurrency using online wallets, you can also create your own offer.
Here are some guidelines for creating such an offer:
After posting your offer, wait for the seller to open a transaction with you. You will receive notification of the new transaction. Discuss all the details with the seller and transfer the funds to their account.
After making your payment, upload your proof of payment and click Paid. Your payment will only be confirmed when you click Paid. If you don’t, the transaction will expire and the cryptocurrency will go back to the seller.
The seller must then confirm your payment. Be patient – it may take some time. Once the seller confirms the payment, they will transfer the cryptocurrency to you and the transaction will be completed.
There are many sites where you can buy cryptocurrencies using PayPal, Skrill and other similar payment systems like Bestchange, bitcoin.org, etc. The obvious pluses: simplicity and security; the biggest disadvantage: high commission.
Also some tips when buying cryptocurrency:
1. When buying bitcoins do not use dubious services. It can be expensive, and not only in the figurative sense. Scammers create exchanges and exchangers for buying and selling cryptocurrency for the sole purpose of stealing users’ funds. If you transfer money to them, you will most likely have to say goodbye to them.
Another problem is high commissions and incorrect rates. An unscrupulous service can sell you cryptocurrency at an inflated price or by including a hidden commission. In this case, there is a risk of losing 5-10% of invested funds.
To reduce this risk, it is better to look for a suitable exchanger through special data aggregators. For example, on coinmarketcap.com and coingecko.com you can sort exchanges by trading volume. As a rule, the higher this indicator is, the more reliable the platform is. You can sort exchangers by the most favorable exchange rate through monitoring services such as bestchange.
2. Check the website addresses of exchanges and exchangers through which you are going to buy cryptocurrency. Scammers create clones of websites of popular exchanges, exchanges and cryptocurrency wallets in order to get user data, such as login and password. If you go to such a site and enter personal information there, criminals can gain access to your account on the real exchange.
3. Read reviews. There are many exchangers and exchanges, and unscrupulous services can easily get lost among them. Before buying cryptocurrency through an unfamiliar platform, it is better to check reviews about it online. Perhaps it has previously been seen in manipulating the rate or has already embezzled customer funds.
4. Ensure the security of your device. Viruses and browser extensions from unscrupulous publishers can spoof cryptocurrency wallet addresses on pages of any website.
When working with digital assets, it is worth refusing the TOR browser. Some output nodes of this browser belong to intruders, and they may spoof wallet addresses on exchange sites and exchanges.