Where to buy bitcoins

The easiest ways to buy cryptocurrency

Following the history of Bitcoin, we are publishing instructions for those who want to buy cryptocurrency, but do not know how to do it. The editors of TJournal presented the three easiest ways.

Please note: this article was published in 2013 and some information has changed since then. For more up-to-date information, read our latest and more detailed instructions on how to buy Bitcoin, Ethereum and other cryptocurrencies .

Before the purchase

Before you buy bitcoins, you need to create a wallet in which we will store the currency. Perhaps the most reliable way is to download and install a complex official client (complicated because it requires constant synchronization with the server), but many use simpler and more understandable online services - with their help you can spend money using phones, tablets and any other devices. However, if the service is hacked, then the money from users’ wallets will fall into the hands of attackers and they will not be able to get it back.

We will not recommend any one service, so we will list the most popular: Blockchain , Coinbase , Strongcoin and others . You can also always create and print public and private keys and store them in your safe or safe deposit box.

You can use the alternative Multibit client (there are versions for Windows, Linux and Mac) - it does not require full synchronization to work.

Three ways to buy bitcoins

1. Exchanges

The exchange is a platform for trading bitcoins and other currencies. Each exchange participant can replenish his internal account and offer others to buy or sell (this is called “placing an order”) a certain amount of currency at a certain price. The price at which users agree to sell and buy bitcoins constitutes its exchange rate. The rate is constantly changing depending on many factors - even a joke about cryptocurrency hacking can drop the price of Bitcoin by several hundred dollars.

The most convenient exchange for Russian users is the BTC-E exchange , one of the largest in the world. There is no need to go through an identification procedure, it has a sufficient number of users to quickly carry out exchanges and supports Russian payment systems.

1. First, we need to deposit money into the exchange . BTC-E offers deposits using Qiwi (5% commission), OKPAY (2%) and Payeer (3%). OKPAY did not seem to us the most convenient, Payeer sometimes requires a scan of a credit card and several days to verify your data, so we settled on Qiwi, which means we need to top up our Qiwi wallet, fortunately, this can be done without a commission , for example, by transfer from Alfa-Bank or by replenishing your account through a regular terminal.

2. After the money appears on our balance on the exchange (note that payments do not always arrive instantly), you need to take part in the trading. To do this, we will set the price for Bitcoin , focusing on the current exchange rate. If your price turns out to be acceptable, after some time the amount in bitcoins will appear on your internal account minus 0.2% of the transaction - this is the exchange commission.

3. If we do not want to play on the exchange, then it’s time to withdraw funds to our wallet , the withdrawal fee will be 0.001 BTC, but please note that the first withdrawal may take up to three days.

2. Exchange services

Exchange services allow you to convert money into bitcoin and back at the internal rate. This method of buying cryptocurrency is only slightly superior in simplicity to exchanges.

) is considered one of the most popular and profitable exchangers Metabank.ru ( reviews . At the moment it accepts Qiwi and Webmoney, in both cases the commission will be 4%. Please note that Metabank processes payments from Qiwi manually from 10 a.m. to 7 p.m.

There are other popular exchange services: ALFAcashier , 24change.com , wm-center . You are free to choose, but always remember that before making any transactions you need to check the reputation of the seller; if you do not know how to do this, it is better to use one of the reliable exchangers.

3. Buy directly

To do this, you need to find someone willing to sell you bitcoins and agree on a rate, and usually it will be slightly lower than on the exchange, because both the seller and the buyer save on commissions. You are the first to transfer the required amount of money, and in return you receive the equivalent in bitcoins. Or you don’t get it if you fall for the scammers’ bait.

Why do you have to translate first? Because if the seller transfers you bitcoins and you run away, then he will not have a single chance to return the funds. We strongly advise against buying bitcoins from strangers without checking their reputation.

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