How to buy Bitcoin

How to buy Bitcoin
I explain step by step how to buy Bitcoin

Buying Bitcoin is a very simple task and in this article I am going to show you how to do it in a very simple way.

The first thing you have to understand is that you have to think of Bitcoin as if it were a normal currency, as if it were a Euro. So, as a normal coin you will understand that you can get it like any other coin. For example, you can get it by accepting payments or donations in Bitcoin.

The procedure is very similar to receiving a payment or transfer in Euros. You just have to give someone your current account number which, in this case, is one of the addresses of your wallet bitcoin for the payer to send you the agreed amount of Bitcoin.

It’s as simple as that. The process is super fast and discreet with the added value that no one will ever be able to seize or block your Bitcoin balance because with Bitcoin you are your own bank.

If you are interested in knowing more about how Bitcoin works, I recommend that you read the following article where I explain everything related to Bitcoin: What is Bitcoin and how does it work?.

Example: If you want to give me a joy I invite you to send me some Bitcoin or failing that some fraction of Bitcoin to this address: 13dJUpdNYaZCGdj8SCXYGZxq3PwHbNfQrV

How to buy Bitcoin?

There are two ways to buy Bitcoin:

  1. With real currency: If we have a certain amount of Euros, Dollars or any legal currency, we can buy Bitcoin on one of the following platforms. This method is actually the most widespread since it consists of exchanging Euros/Dollars for their equivalent in Bitcoin.
  2. With cryptocurrencies: If you already have a balance in any cryptocurrency, there are platforms that will allow you to buy Bitcoin with that balance. Later I will tell you how and where you can do it.

Buy Bitcoin with real currency

Entendemos como moneda real a la monea de curso legal que se usa en tu país.

The procedure consists of adding a certain amount of Euros/Dollars to the balance of the exchange house or Exchange in which you are registered, with this balance in real currency you will be able to buy Bitcoin without any problem.

Next we will see the most popular Exchanges on the Internet:

  • Coinbase: It is undoubtedly the platform most used by people who buy Bitcoin. This exchanges allows you to buy other crypto currencies such as Bitcoin Cash, Ethereum and Litecoin.
  • Kraken: It is a platform located in the United States that allows us to acquire Bitcoin paying with Euros, American Dollars, Canadian Dollars or Yens. The commissions applied to your services depend on the volume of the transaction and range from 0% to 0.26%. Without a doubt it is a very good option due to the low commissions that apply.
  • BitcoinDe: This is one of the most interesting European exchange platforms. As you may have guessed, its origin is German and it works as one would expect: With precision and seriousness. BitcoinDe works as a guardian of Bitcoin in transactions between individuals, ie, I sell you a Bitcoin, you pay me and during the process of buying and selling Bitcoin Bitcoin keeps it BitcoinDe. This platform is very good because each user has a reputation that is earned as he performs operations, a good indicator of the degree of confidence offered by the seller and / or buyer.
  • LocalBitcoin: This platform allows you to buy Bitcoin from other individuals. The purchase can be online or face-to-face since it shows you which sellers are close by so that you can meet and make the purchase-sale. The online sales are made by bank transfer, the face-to-face use the methods that both parties decide.

On most of the platforms I have mentioned above, you will have to create a user account and identify yourself fully in order to buy and/or sell Bitcoin. What does this mean? Then you will have to give data such as your telephone number, address and identity document.

What you must be clear about is that none of the information you provide will be public, all Bitcoin transactions will be carried out with discretion so no one will identify the buyer or seller.

Buy Bitcoin with other cryptocurrencies

Before starting, if you are not very clear about the concept of cryptocurrency and want more information about its origin and functioning, I recommend that you read the following article: What is a cryptocurrency?.

If you already have some cryptocurrency in your possession, it will be very easy for you to change them to Bitcoin. There are exchange platforms that only accept cryptocurrency as a form of payment. Here are two exchanges that will allow you to purchase Bitcoin by paying with another cryptocurrency:

  • Poloniex: It is an exchange platform of U.S. origin, is one of the most popular in terms of number of transactions made and only accepts as methods of payment crypto currencies.
  • Bittrex: Another U.S. platform that allows you to buy Bitcoin using other cryptocurrencies as a form of payment.

Additional information about buying Bitcoin

As you know, Bitcoin was born with the aim of democratizing money and bringing a certain degree of freedom to the world of finance. A centralized world and subject to the interventions of entities such as governments and Central Banks. Therefore, the use of Bitcoin prevents any organization from identifying users and therefore regulating them as usual.

As you know if you’ve read my article about how Bitcoin works, the address of a bitcoin wallet is anonymous so you can not associate it with anyone unless the owner makes public their own data.

We could think that the States could ask the exchange platforms for the data of their clients under penalty of closing the business and imposing fines on them. For this reason, there are decentralized exchanges which, as they are not registered in any country, are free of manipulation and possible threats from States.

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