How to buy bitcoins

Bitcoins can be bought for US dollars, euros or another fiat or cryptocurrency on a crypto exchange, directly from other individuals, or using a special ATM.

It’s good to know that you can buy fractions of a bitcoin. So you don’t have to spend thousands of dollars or euros to become a bitcoin owner.

First you needs to get a “wallet” – a kind of bank account for holding and using bitcoins. (Read more about wallets here.) Once you have one, you can choose how you prefer to acquire bitcoins: on an exchange (read here about choosing one), by finding a local dealer on a marketplace like localbitcoins.com and buying bitcoins from them with cash, credit card, via PayPal, etc., by visiting the nearest Bitcoin ATM, or by selling goods or services for bitcoins.

Each way has its own pros and cons. Exchanges are the most flexible: you can buy a small amount of bitcoin (say for USD 20) or exchange tens of thousands of dollars. But there’s more anonymity when buying bitcoins in-person. Also, compare the applicable transaction fees and see where you can get the best price. (See the best rates on exchanges here.)

In any case, before choosing a specific exchange or seller, check that it or he or she is safe, look for reviews and feedback from previous customers.

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