How I buy bitcoins: step-by-step instructions

By the way, I was proud of my purchase of bitcoins at the level of 8 thousand dollars. Still, a couple of days before, the rate was at the level of 9 thousand, that is, I acted as an experienced investor. In this regard, I even wrote about this to a friend who actively invests in the stock market.

Mom, I'm an investor

But I really felt like a cool investor. Buy an asset while others are panicking - that’s what all the gurus teach, right?

In the end, I actually bought on the drawdown, but the real drawdown came later. However, this is not the first and not the last time, so there is no need to be particularly upset. It's better to figure out how to buy coins.

Where to buy bitcoins

It so happens that I buy coins on LocalBitcoins. This is a peer-to-peer cryptocurrency market, that is, participants in it are equal. The exchange of BTC and national currency occurs between the users themselves, and the platform acts as an intermediary and guarantor of the transaction - so that no one is deceived. The project is registered in Helsinki.

This is not the only way to purchase cryptocurrency. The alternatives were described by my colleague Dmitry. For example, follow the link for instructions on how to buy and sell coins using a bank card on the Binance exchange. This article will help you understand the basics of the Bestchange platform.

Localbitcoins is a world-famous project, so there should be no problems with it. By the way, there is also LocalCryptos, which was previously called LocalEthereum. It now trades both ETH and BTC, but I'm not familiar with it.

Home LocalCryptos

In any case, I recommend doing transactions online. Going with someone to buy coins - especially strangers - is too risky. At best, you can be left without money and cryptocurrency. At worst, unconscious.

What to do before buying bitcoins for rubles

First of all, you will need to open an electronic wallet on which the cryptocurrency will be stored (data on the Bitcoin wallet must be specified before the time of purchase). It is more convenient to use it through mobile applications, so it is recommended to choose a site in advance that provides this opportunity. There are many platforms for storing digital currency, but for inexperienced users it is better to open a wallet on Coinbase or Blockchain. The registration procedure is standard: enter your email and password.

If a large amount of money will be stored in your wallet for a long time, you should take security measures: link your profile on the service to a phone number, select multi-step authentication, change your password every 6 months.

Exchangers through which you can buy cryptocurrency for rubles

Exchangers independently set the internal exchange rate of Bitcoin to the ruble or dollar, based on the market average, so they are ideal for those who like “stable prices.” They exchange cryptocurrencies for fiat money, retaining a commission of about 10-18%. There are no hidden payments - the user, even before the operation is completed, sees the rate at which the exchange is carried out and the amount of funds that will be credited to the account. But first you need to find a safe online service.

The following exchangers have earned a good reputation:

• 60cek.com – semi-automatic exchange with many directions;
• X-pay – works in manual and automatic modes;
• BaksMan – operations are carried out quickly, automatically;
• ProstoCash is a semi-automatic exchanger that requires a minimum of data, allowing you to maintain anonymity;
• ALFAcashier is an automatic exchanger that has been operating since 2012;
• 24PayBank – operates manually (around the clock), offers the most favorable rate;
• Ychanger.net is fast and does not require registration to carry out operations.

All services provide a wide selection of cryptocurrencies, work with popular electronic payment systems (Yandex.Money, QIWI, etc.), and are characterized by a simple and intuitive interface. The main disadvantage: most exchangers have fairly low limits on the purchase of coins.

Exchanges for trading fiat and cryptocurrency

Cryptocurrency quotes in real time are formed based on current supply and demand, so the cost of Bitcoin on sites may vary. They charge a commission of 0-5% from each transaction, which is much more profitable than transactions through exchangers. This is due to a lower level of reliability - to purchase cryptocurrencies you need to open an account on the exchange and deposit funds, which increases the risk of fraud and hacker attacks. In addition, such services store the personal keys (passwords) of their users and control the funds in their wallets.

Despite all the risks, exchanges attract those who are looking for where to buy bitcoins for rubles without commission. Even more interesting is that this is where you can find the most favorable rate, as well as make money on the purchase and sale of fiat and cryptocurrencies.

Recommendation: to minimize the likelihood of losing funds, it is necessary to diversify them using several different platforms. Preference should be given to the most reliable exchanges with a high rating, which are included in the TOP 5.

How transactions are carried out

Exchangers. To purchase cryptocurrency through an exchanger, as a rule, it is enough to perform just one operation by filling out several items: direction of exchange, amount and details. The transaction will not take much time and will be completed immediately after confirmation according to the terms of the service - via email, SMS, etc. There is no additional commission charged for transferring funds to the specified wallet.

Exchanges. To buy Bitcoin on the exchange, you will have to perform a larger number of operations:

• opening an account/wallet on the site;
• depositing funds (replenishing an account);
• purchase of cryptocurrency (for rubles or dollars);
• withdrawal to a Bitcoin wallet.

For each transaction, a set percentage is withdrawn.

Visual methods for buying Bitcoin in Russia

Let’s look at how it will be easiest for a beginner to buy cryptocurrency for rubles.

1. Using a Visa/MasterCard RUB credit or debit card.

2. Exchange Yandex.Money or Qiwi RUB to Bitcoin BTC

3. Exchange Sberbank RUB to Bitcoin

4. WebMoney

An alternative option is to purchase through the WebMoney electronic payment system. Here an analogue has been introduced for bitcoins: 1BTC=1000 WMX, so the user needs to open the appropriate wallet.

Purchasing cryptocurrency can be done in two ways:

• on the exchange wm.exchanger or indx.ru (at the current rate)

• via WebMoney Transfer (at the rate set by the system)

The exchange commission here is about 0.8% and WebMoney charges about the same amount for withdrawing cryptocurrency. Total costs can ultimately reach 1.6-2%.

Finally, we’ll tell you how to buy Bitcoin in Russia for cash

We hasten to please you - this is not a joke! Stationary exchangers do exist in the country, and there are already 5 of them:

• in Moscow, near the Kursky railway station (buying and selling Bitcoin, Ethereum);
• in the center of the capital, on Novy Arbat (only purchasing bitcoins);
• in Arkhangelsk;
• in Chelyabinsk;
• In Ekaterinburg.

Clients have access to not only cash, but also non-cash payments. When exchanging during the daytime, you will have to pay a commission of 4-5%, at night - 10%.

How to use LocalBitcoins

First of all, you will need an account on LocalBitcoins - that is, an account. There is nothing complicated here: you need to specify your email address, password and that’s all. Everything should work out.

Be sure to enable two-factor authentication for security. After connecting, each time you log into your personal account, you will need to enter a unique password from the Google Authenticator application. This is the maximum level of security. If you don’t do this, you can end up in the situation in which my colleague Valentin found himself. His account was logged in at 3 am.

Have you created an account? Congratulations, you can move on to the fun part - buying coins. I will show what is happening using the example of Ukraine, since I was there on the day of the purchase.

At the top of the main page we see two large tabs: Quick Buy (that is, quick purchase) and Quick Sell (quick sale). In this case, I need the first one - that’s what I chose. Then indicate the currency and the desired country. We see a list of sellers.

List of sellers on Locale

Next to each one, the number of transactions completed and the percentage of positive reviews are indicated in parentheses. Look at the second person on the list under the username nontxt. He has more than 10 thousand transactions and 100 percent satisfied clients. This means that you can trust him with even your own life - and he will not let you down. Only if you trust it within the platform, of course.

The color of the circle indicates the response speed. If it is green, it means the person answers within five minutes. If yellow - up to 30 minutes, if gray - from 30 minutes. Accordingly, sellers are interested in conducting transactions faster in order to attract customers.

On the right side we see the selling rate and volumes. Some people sell from several thousand hryvnia, others are willing to pay a hundred BTC. In general, sellers are sorted by sale price by default. The higher the profile, the better the deal.

Select a suitable seller and click on it. Here you can see all the conditions that must be met. I have blurred out any personal details to keep up appearances.

Conditions for purchasing crypto on Locale

If you are satisfied with the conditions, enter the desired amount in national currency. We immediately see the volume of BTC that will be sold to us. On that day, for 2500 hryvnia you could get 0.012022 bitcoin. Oh, what a time it was.

Convert currency to BTC

By the way, carefully read the terms of cooperation. Sometimes sellers offer a discount on a certain amount of coins. This needs to be clarified in advance.

Additional terms

We send a request for the operation and read the terms of purchase again. Sometimes sellers ask to add some kind of note to the bank payment - this needs to be taken into account.

Let's start the operation

Usually guys answer quickly and duplicate information in personal correspondence. This means you can send money.

Correspondence with the seller

By the way, if you are unsure about something or something raises questions, ask in the same private messages. It’s better to clarify everything right away and do everything correctly than to be afraid of seeming stupid and making mistakes.

After transferring the money to the bank account, we confirm the success of the operation. To do this, click the button in the lower right corner of the page.

Money transferred

We wait for the seller’s reaction and receive BTC to the wallet. Usually everything happens quickly - it doesn’t even come close to panic. This is what the designation of a successful transaction looks like.

The deal took place

And this is what the coins look like on the balance sheet - we see them in the upper right corner.

Now we just have to wait for Tuzemun

Don't forget to leave a review for the person - this is important for the people who will perform operations after you. And for the community as a whole.

As it turned out, I had already carried out an operation with this trader. Therefore, I was asked to update the review. Nothing has changed here - the person is “trustworthy.”

Review about the seller

You can also exchange pleasantries in private. Why not.

Correspondence with the seller

Where can you buy Bitcoin: an overview of all options

Today, all payment systems officially operating on the Russian market have the right to provide services only to verified users. But Bitcoin was originally created as a currency that can be used anonymously. Therefore, although the status of Bitcoin in the legal field has not yet been determined, it can be easily bought and sold - however, most sites today still require verification.

If you want to buy cryptocurrency, you first need to create a wallet. Some wallets can only be used for Bitcoin; if you plan to buy other cryptocurrencies, you will need other wallets. But there are multi-currency wallets where you can store several assets at once. One of the most popular is Blockchain.com. You can store Bitcoin, Ethereum, Bitcoin Cash and Stellar there. There are many other online wallets. You can purchase Bitcoin itself in the following ways:

Method 1. How to buy Bitcoin through an exchanger

For those who do not use electronic wallets and do not have foreign currency at their disposal, the most pressing question is where to buy Bitcoin for rubles. It is most convenient for such people to use a P2P exchanger. There are a very large number of them, but we use two: the Bitzlato.com platform and BestChange. But these are not exchange offices, but large resources that bring together the largest market participants.

Having chosen the direction for exchange, you can view the rate, the reputation of the exchanger and the currency reserve it has. The likelihood of fraud in the service is minimized, since if problems arise, the user can leave a complaint. It is much easier to buy bitcoins through exchangers, but the rate there is usually a little higher (compared to exchanges).

To buy Bitcoin in this way, you need to select an exchanger; in some exchangers, you need to go through a simple registration procedure (not everywhere) and fill out a form for purchasing cryptocurrency, entering the required number of Bitcoins or Satoshis, as well as the address of your Bitcoin wallet. After this, the buyer must transfer the required amount of fiat currency for the purchase of bitcoins from his wallet or card to the details that appeared after filling out the application. Most exchangers accept all possible payment methods - bank cards, electronic money, etc. After payment, bitcoins will be sent to your wallet. This procedure may differ slightly depending on the selected exchanger, but in any case, everything is clear - you just need to follow the system prompts.

Most often, Bitcoin is purchased in one of these two ways - either through exchanges or through exchangers.

Method 2. Bitcoin exchange

Citizens of the Russian Federation can use the services of both international and Russian services. But to register on the exchange, you will need full identification (with a scan of your passport) and verification, which can take several days, and sometimes even weeks. As a rule, you can start trading without verification, but you will not be able to withdraw money without this.

After completing a transaction on the exchange, bitcoins can be withdrawn to your wallet. Purchasing through an exchange is suitable for those who want to buy a fairly large number of bitcoins and do not want to overpay, as well as for those who subsequently plan to trade digital coins on the same exchange.

Method 3. Buying Bitcoin with cash

Another way to acquire bitcoins is to buy them with cash. To do this, you can use the services of specialized forums and groups on social networks. Having agreed with a seller in their region to purchase cryptocurrency, both parties to the transaction meet at the appointed time in the appointed place. The operation involves transferring cash to the seller, and there, on the spot, crediting bitcoins to the buyer’s wallet.

This method can only be used if you personally know the seller and trust him. Otherwise, there is a very high risk of running into a scammer. And don’t forget that bitcoins are not coins in the physical sense; you cannot pick them up or touch them. In some cities, there were cases when scammers sold coins on the city streets, passing them off as bitcoins.

Method 4. How to buy Bitcoin through cryptomats

Another rather rare, but increasingly popular way to purchase bitcoins is cryptomats, or bitcoin ATMs, installed in some large cities of Russia - Moscow, St. Petersburg, Novosibirsk and other cities with a population of over a million. It looks like a regular ATM, but with a Bitcoin icon.

If there is a crypto ATM in your city and you want to buy bitcoins there, you must first create a wallet and have a QR code with you that you need to scan when making the transaction. The deposit scheme, again, may vary depending on the type of crypto machine (as well as the size of the commission charged), but usually to deposit funds you first need to click on the “Bitcoin” button/icon on the screen, then scan your Bitcoin wallet using the code, deposit cash and confirm the operation.

Since exchange operations with bitcoins are not yet regulated in our country, the status of crypto ATMs is not yet clear. There is a precedent when law enforcement agencies considered its installation illegal and demanded that such a device be dismantled.

Method 6. How to buy Bitcoin through a bot

Cryptocurrency telegram bots are another way to buy cryptocurrency. It is suitable for quickly exchanging small amounts. You can also send Bitcoin checks here. The most popular bot for exchanging Bitcoin is BTC Banker. Just open Telegram, join the bot, select an option (buy or sell BTC), amount, payment method, and follow the system prompts. A bot is an intermediary that connects a seller with a buyer. Once the transaction is completed, the funds are frozen in the bot's account until the Bitcoin seller confirms that they have received the money. Then the bitcoins are transferred to the buyer’s account in the bot, from where they can be withdrawn to any wallet.

Buyers should always be cautious and remember that the legal status of Bitcoin remains uncertain in most countries. The risk of fraud on the part of the seller (or even the exchange) remains quite significant, since there is no government regulation in this area yet. If you buy bitcoins on an exchange, it is better to immediately withdraw them to a secure hardware wallet to completely eliminate the risk of theft.

How to withdraw cryptocurrency from LocalBitcoins

Of course, no one forces you to keep coins on the platform. To withdraw, go to your personal account, enter the recipient’s address and the transfer amount, and then send the coins.

Withdrawal of coins from LocalBitcoins

By the way, to send you will need a code from Authenticator. This is another layer of security and another reason to enable two-factor. Seriously, do it. Approach the undertaking with maximum responsibility - this is exactly what is needed when working with cryptocurrency.

The coins arrive quickly, there are no problems with this. To sell, the opposite is true: add coins to your wallet and select “Quick sale” on the main page. The meaning of the operation will be the same.

Where to buy Bitcoin without commission and not become a victim of scammers

Despite the possibility of easily and quickly making money by investing or speculating with cryptocurrency, many buyers are looking for a way to purchase it without commission. And often the pursuit of a small gain results in the loss of the entire amount, since there are many scammers in this area.

Those who want to buy Bitcoin without a commission need to know that it is impossible to make such a transaction on a third-party resource, be it an exchange or an exchange office, since the commission is the main source of income for these services. Moreover, when searching for a specific site, you should also not chase cheapness. There have been cases where entire exchanges, which initially lured users with low commissions, ultimately turned out to be simply fraudulent structures that stole all the funds from user accounts. In the absence of a specific legal status for cryptocurrency, all third-party transactions with it, primarily exchange ones, must be carried out with extreme caution.

The only way to make an exchange without a commission is to find a person who also wants to make an exchange, but only in the opposite direction. It is advisable that you know this person personally, since the risk of contacting a scammer is quite high. You should not trust offers from strangers on social networks or instant messengers - there are many scammers among them.

Can you get scammed on LocalBitcoins?

Things work a little differently here. All online auctions are protected by an escrow or so-called escrow. When the transaction begins, the amount of BTC for trading is automatically reserved from the seller's LocalBitcoins wallet. That is, if the seller runs away with your money and does not give back your coins, the service’s support will easily return your crypto.

There are no such guys on LocalBitcoins

If you are selling BTC, never send coins from the vault until you see the transfer from the buyer. This way you will protect yourself.

LocalBitcoins Limitations

In 2020, the platform strengthened its user verification system. The logic is simple: if you want to trade a lot and actively, show your documents. If you don't want to, the transaction limit will be limited to the equivalent of a thousand euros per year.

LocalBitcoins Rules

The more information you provide about yourself, the larger volume you will be allowed to trade. If you don't like it, that's okay. Then we recommend our article with a list of exchanges where you do not need to show your documents.

How to store bitcoins. conclusions

The coins have been purchased and sent - all that remains is to save them. To do this, I recommend using hardware wallets that do not disclose a private key and help secure your own crypto reserves. If you need convincing arguments to buy it, read my experience of losing coins on exchanges, friends and other problematic factors. Read and run to order a wallet.

LocalBitcoins is a good option for your first bitcoin purchases. As far as I know, with the help of Telegram bots and BestChange you can find better purchase offers, and the limit of a thousand euros per year is also not very pleasant. However, for periodic purchases for a small amount, the platform is definitely suitable.

SUBSCRIBE TO OUR TELEGRAM CHANNEL. WE ARE WAITING FOR AT LEAST 10 THOUSAND BITCOIN!

How and where to buy Bitcoin

Now that we have understood what Bitcoin is and what basic concepts allow it to work, it’s time to move on to the economic part. Today BTC is the most popular and expensive cryptocurrency, despite the huge number of altcoin followers. Therefore, you may well be interested in the question of where to buy it.

Bitcoin is usually bought for long-term investments. Traders who make money on fluctuations in cryptocurrency rates choose volatile, promising altcoins.

Exchanges

A cryptocurrency exchange is a trading platform that supports the exchange of cryptocurrencies against each other or against traditional money. At its core, it is no different from ordinary exchanges with shares or currencies - it provides detailed information about rates, updated in real time, and supports extensive trading tools.

Popular top crypto exchanges today:

• Binance. The most liquid platform in the world. The trading volume reaches 1 billion US dollars. The most promising cryptocurrencies are presented on the exchange, as there is a strict selection of coins for listing. Available markets: BNB, BTC, ALTS (altcoins), USD (stablecoins). You can top up your account with cryptocurrency, there are no fiat accounts. But, since the beginning of 2020, it has become possible to buy Bitcoin, Ethereum, Litecoin using Visa/Mastercard bank cards. The trading commission starts from 0.1%, and decreases with increasing turnover. In April, its own blockchain network, Binance Chain, was launched. The platform was one of the first to conduct IEO (sale of tokens on the exchange). To use fiat (GPB, EUR), the Binance Jersey platform has been launched.

• EXMO. The exchange has been operating since 2013 and is a place to exchange cryptocurrencies for fiat. Available payment systems and wallets: Advcash, Payeer, Yandex.Money, Qiwi, Perfect Money, Visa/Mastercard. Trading commission 0.2%. Type of orders: market and limit. 142 currency pairs available. The minimum Bitcoin deposit or transfer amount is 0.001 BTC.

• Huobi;
• The Bitcoin exchange Localbitcoins, which is a p2p (person to person) service, is very popular. This means that the participants in transactions are people. The obligations of the exchange are to monitor the fulfillment of the agreed conditions, i.e. act as a guarantor of each transaction. For this purpose, a system has been introduced to deposit funds with the seller before the exchange. After successful payment, the Bitcoin exchange transfers them to the buyer’s account.

• Bitmex. The platform is used for margin trading, i.e. with the provision of leverage. Transactions can be opened to sell or buy an asset. The minimum contract value is $1. The maximum leverage for Bitcoin is 100.

Instructions for working on the stock exchange

Procedure:

1. To work on any exchange, you will need to create an account, confirm your registration email and set up security by enabling 2FA authorization for entry and financial transactions.
2. Replenishment of balance. Depending on which exchange you choose, you can make a deposit with fiat money or only cryptocurrency.
3. Go to the trading terminal and select a currency pair.
4. Studying the chart, history, current orders (order book).
5. Placing an order to buy or sell Bitcoin.

Exchangers

Cryptocurrency exchange services are also no different from traditional ones. You need to select the direction of exchange (for example, from Yandex.Money to Bitcoin), enter payment details, indicate the exchange amount and confirm the operation.

To select an exchanger with the best rate, the BestChange aggregator service is used. Examples of well-known exchangers:

• Prostocash;
• 60sec;
• Ramon-cash;
• Platov;
• Baksman.

Guide on how to work with exchangers

In any Bitcoin exchanger you will need to perform the following steps:

1. Complete registration. Some services work without it, but we recommend creating an account for convenience and participation in the cumulative discount program.
2. Select exchange directions. For example, Sberbank on Bitcoin.
3. Fill out the exchange application form. Indicate the address for receipt, quantity and details of the wallet from which payment is made.
4. Check and confirm the operation
5. Make the payment to the exchanger within the specified time frame and click “I paid.”
6. The service will transfer Bitcoins to the specified address within the scheduled time frame.
7. Wait until the transaction is confirmed by miners on the network. On average, the process takes no more than an hour.

Payment systems

Popular payment systems, seeing the popularity of Bitcoin, are also beginning to provide the opportunity to purchase and store it:

1. Advcash allows you to buy Bitcoin directly from the wallet interface. To do this, you need to have a fiat account with the required amount and enter your wallet details. You can buy the following coins: Bitcoin, Litecoin, Zcash, Dash, Ripple, Ethereum, USDT:

2. The multifunctional electronic wallet Epayments also provides this opportunity, and in addition to Bitcoin, you can also buy a number of altcoins here. We recommend working through the DSX partner exchange.
3. Payeer and Webmoney. Both services allow you to create a separate account for Bitcoins and, if necessary, transfer funds back and forth. A cryptocurrency exchange has been introduced on Payer since 2018.