There are a lot of options to buy crypto in almost every corner of the world. The best way to know how to buy crypto coins is just to try it. But how and where can you buy it?
For a lot of people, owning crypto is a terrifying procedure. It may appear complicated from the outside, but it is not. It is a quick and simple procedure. The easiest procedure is:
1. Use fiat money to buy crypto coin
2. Once you have the wallet make use of any traditional payment option like credit card, debit card, bank transfer, e-transfer to buy crypto coin on any exchange.
3. Then you can transfer the coin in your crypto wallet.
In order to choose the most suitable method to purchase your first BTC, you should consider a few aspects first:
1. Do you want to disclose all your private info?
2. How much do you need to pay?
3. Where do you live?
These factors help you in deciding the form of payment you will make for your cryptocurrency purchase. As cryptocurrencies are subjected to financial regulation in all parts of the world, hence in order to buy and sell them, you need to get your identity verified. However, there are several grades of KYC with respect to the amount of private info which you need to disclose.
There are several ways that allow you to change your fiat money with crypto and every way has its own set of advantages or disadvantages.
Exchanges and brokers: They are like vendors that buy cryptocurrencies and sell it to people. The exchanges and brokers like DMX Markets are websites. You visit the site, choose your mode of payment, pay and get crypto coins for the prices set by the exchange. Some of the pay channels which exchanges commonly use are PayPal, credit cards etc.
P2P markets: the P2P market place is the exchange where buyers and sellers of BTC or any other crypto coin meet and trade with one another. The fee of this market is less. You need to set a price and wait till you get someone who accepts the offer. You can buy crypto with fiat here. Most of the time, the transactions are anonymous.
Exchange platforms: If you want to constantly buy and sell large number of crypto coins and invest in them or trade in them, then you should choose an exchange platform. The exchanges work like an escrow for their clients and save cryptocurrencies and fiat money on their customer’s behalf.
So, you can offer your order to buy crypto coin and the trading engine of the exchange runs these orders and provides you with the buy order instantly. They offer option like margin trading and the fees and spread is low.
Make sure you choose a reliable and reputed exchange to do your transaction. It is important to know the authenticity of the exchange before you disclose your details and do any transactions.
DMX Markets is your one-stop solution to trade in and buy crypto coins with fiat money. It is the first regulated tokenized asset platform where you can trade tokenized assets for fiat money. So, go ahead and start trading now.