Pros and Cons of the Most Popular Ways to Buy Cryptocurrency

Though cryptocurrencies is quite popular topic for discussion, the number of people in the world who possess them is negligible. Many people think that it is too difficult to buy and store Bitcoins or other coins and therefore do not even try to become a part of digital economics. In this article we will tell about the most popular ways to purchase cryptocurrency. After reading this material, you will be sure, that to buy virtual coins is not difficult at all.

Content:
(please, click the topic to scroll down to it)

  1. To buy cryptocurrency through a wallet
  2. To buy cryptocurrency on an exchange
  3. To buy cryptocurrency through an exchanger
  4. To buy cryptocurrency using a mobile application
  5. To buy cryptocurrency for cash
  6. Conclusion

1. To buy cryptocurrency through the wallet

If you use a multi-currency wallet, then most likely it has a built-in currency exchange function. To do this, you need to find the section “Exchange” or “Change” and select the exchange currencies you are interested in, for example USD/ BTC, JPY/ ETH, etc. After that, it is necessary to choose a convenient payment method and complete the transaction. Thus, in a few minutes it is possibly to become an owner of cryptocurrency.

Pros:

  • Intuitively clear interface;
  • High speed;
  • A wide range of payment systems for transaction;
  • Reliability and safety.

Cons:

  • High commissions;
  • Often not profitable rate.

2. To buy cryptocurrency on an exchange

Lately a huge number of cryptocurrency exchanges have appeared on the market, where you can literally sell and buy the necessary crypto-coin in one click. There are exchanges which support fiat currency. In this case after registration, you only need to replenish your account, and only after that to purchase the necessary cryptocurrency for this money.

Pros:

  • A wide range of cryptocurrencies;
  • A possibility to purchase at a favorable rate;
  • A wide range of payment systems.

Cons:

  • Exchange commissions;
  • In a case of a heavy workload, there are possible time delays.

3. To buy cryptocurrency through an exchanger

A work principle of cryptocurrency exchanges does not differ from the standard exchange offices in which it is possible to convert fiat money. For making an exchange, it is needed to go to site of a service and select necessary currencies, then click on the “exchange” button and pay an order. Exchangers can be found on the bestchange.ogr.

Pros:

  • High conversion speed;
  • Wide range of payment systems;
  • Wide range of exchangers.

Cons:

  • Not the most profitable course
  • Limited reserve of free funds;
  • High commissions;
  • There are pretty many scams.

4. To buy cryptocurrency using a mobile application

This method is ideal for people who appreciate convenience and comfort, and don’t want to sort out details. You simply install a mobile application on your smartphone (for example, Bitxfy, BitcoinCore, BitPlay, Coinbase), open it and enter the amount of coins you want to buy. After that, you simply pay using Internet banking, and coins are credited to your wallet, which is automatically created after registration in an application.

Pros:

  • High security;
  • High speed.

Cons:

  • It is possibly to buy only btc, sometimes eth;
  • Purchase limits;
  • Limited payment options.

5. To buy cryptocurrency for cash

You have the opportunity to purchase a virtual cryptocurrency using cash. This can be done in several ways:

  1. To use a cryptomat;
  2. To find an exchanger which has a physical office.

Pros:

  • A possibility to buy digital coins without having any electronic money.

Cons:

  • Such exchangers can only be found in large cities, and cryptomates are generally considered a deficiency in our time;
  • High commissions;
  • Limited exchange amounts.

6. Conclusion

As you may have noticed, there are many ways to purchase cryptocurrencies. It is not that difficult to buy cryptocurrencies in 2018 – absolutely any average person is able to do that. It’s not even necessary to have a bank card for it.

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