As time goes by, bitcoin is becoming more and more established on the global market, which has generated a growing number of people interested in buying cryptocurrencies, such as investors or renowned financial specialists. If you want to be one of them, then read on in this article, in which we’ll tell you how to buy bitcoin simply and safely.
What are the best alternatives for buying bitcoins?
The key to buying bitcoins or fractions of this cryptocurrency is to have a virtual or electronic wallet, as this is a prerequisite for carrying out this type of transaction.
There are various types of wallet, such as :
mobile wallets, including Coinbase, StormGain. Blockchain, Freewallet;
desktop wallets such as Samourai Wallet, Green Address or Infinito Wallet;
paper wallets such as Exodus, Bitcoin Core, Coinomi
and hardware wallets such as Ledger and Trezor, among others.
The use of these electronic wallets not only serves to store the information stored on the cryptocurrency and certify that it belongs to its user; it also enables encrypted keys to be issued, guaranteeing the security of financial transactions.
The way bitcoins are purchased using a wallet that allows these electronic currencies to be sent and received, are in encrypted keys that are used to indicate who is responsible for carrying out this type of transaction with the cryptoassets where the money will be sent. As well as using the e-wallet to buy bitcoins, there are other alternatives.
Making bank transfers or using a credit card
To buy bitcoins, it is customary to use the official currency of the country from which the transaction is being made, and to do so via platforms that guarantee the security of these financial movements.
The way to buy bitcoins on these sites is fairly straightforward, but first you need to register with an e-mail address and password and provide a series of mandatory data supplied by the platforms.
Once you’ve registered on the site, the way to buy bitcoins is to set a certain amount or fraction of bitcoins and also, you need to activate the wallet on the platform to be able to receive the cryptocurrencies and get a highly encrypted key.
To proceed with the transaction, you need to set the amount of digital currency you want and the key will be copied to the clipboard for later entry on the transaction platform.
However, another alternative of how to buy bitcoins is to opt for the use of a QR code system in which you have to manipulate two different media and the computer camera.
The most common ways to buy bitcoins are usually bank transfers, credit cards or certain systems that allow the use of cash with complex encryption.
However, it can take up to 24 hours for the cryptocurrencies to be sent to the e-wallet, as the purchase is usually made once the bitcoin seller has received your payment.
Paying with PayPal to buy bitcoins
PayPal first became interested in bitcoin back in 2014. However, before using this method of buying bitcoins, you need to make sure that the country where the transaction will take place, so as not to have any problems with using the payment system.
This is important, because in some countries, PayPal is restricted by issues relating to local or national laws and jurisdictions.
So not only do you need to consider your geographical location, you also need to check the verification level of your PayPal account. To do this, you can click on the “My account” option, then on “Show limits”, as there you’ll see the specific limits on the amounts of money you can send or receive.
As for how to buy bitcoins with PayPal, this operation is essentially a currency exchange, so agreements will be made with bitcoin sellers to pay the cost of cryptocurrencies through PayPal.
The way you can buy bitcoins via this payment method is usually through certain websites such as Binance, eToro, Investous, Skilling, Paxful, Local Bitcoins or LocalCryptos, among others.
In summary, bitcoin can be an excellent investment alternative, especially if this is done with the aim of using these monetary funds in the long term, as it is important to analyze its value on the market before using it as a means of payment or making sales of these cryptocurrencies.
