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Bitcoin (BTC) was the first cryptocurrency to be created. It remains the king of crypto today, with a market capitalization of $1.15 trillion (as of Aug 12, 2024). When it comes to buying crypto, investors often select Bitcoin above all the available alternatives, thanks to its popularity.
However, those who are making their first steps in the world of cryptocurrencies may initially find it difficult to buy Bitcoin since the process of purchasing crypto may be an alien concept to them. Fear not, as this guide will provide a comprehensive explanation of different methods for buying Bitcoin.
Key Takeaways:
There are seven main ways to purchase Bitcoin: Crypto exchanges, P2P trading, Bitcoin ATMs, trusts or ETFs, brokers, cash payment apps and trading apps.
Each method has advantages and disadvantages and appeals to different types of investors.
It’s imperative to learn how to store your purchased bitcoins safely, and to understand which type of wallet is better suited for you: cold wallet or hot wallet.