How to buy bitcoins for dollars

Interest in digital assets continues to gain momentum despite recent scandals and crashes. Beginning investors are also attracted by low prices. In this regard, the question is relevant: how to buy bitcoins for dollars and other currencies. There are several methods. When choosing a platform, you should consider the reputation of the service, the commissions charged and the available payment methods.

Available options for buying bitcoin for dollars

In 2023, there are many ways to purchase Bitcoin. Assets are converted into fiat on crypto exchanges, P2P services, online exchanges, and Telegram bots. Each platform has its own advantages and disadvantages. It is important to explore all options.

BTC exchange on a cryptocurrency exchange

This is the most popular way to convert digital currencies. Such platforms strive to provide users with the most intuitive interface for buying coins. Many of them offer to get assets for rubles and dollars. Before exchanging, you need to register and undergo verification.

In December 2022, some exchanges removed Russian cards from the list of available payment methods.

Algorithm of actions

To buy Bitcoin for rubles on the Binance exchange, you need to perform the following steps:

1

ByBit

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ByBit giver bekvemme og sikre betingelser for handel med kryptovaluta, tilbyder lave provisioner, højt likviditetsniveau og moderne værktøjer til markedsanalyse. Den understøtter spot- og gearet handel og hjælper begyndere og professionelle handlere med en intuitiv grænseflade og vejledninger.

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Binance

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Den største kryptobørs, hvor du hurtigt og sikkert kan starte din rejse i kryptovalutaernes verden. Platformen tilbyder hundredvis af populære aktiver, lave provisioner og avancerede værktøjer til handel og investering. Nem registrering, høj transaktionshastighed og pålidelig beskyttelse af midler gør Binance til et godt valg for handlere på alle niveauer!

1. Go to the official website or download the application on your smartphone.
2. Register an account.
3. Pass verification. This requires providing identity documents and taking selfies.
4. Open the “Wallet” section and click on “Enter”.
5. Write the amount in the search box.
6. Choose the method of replenishment and click on “Continue”.
7. Specify the necessary data and proceed to payment.

As of December 6, 2022, Binance only supports deposits from Payeer and Advcash payment systems. Commission for depositing funds is not charged. To buy coins from the card, you need to use the crypto exchange’s built-in P2P interface. To do this, you need to:

1. In the wallet, open the P2P section.
2. Select a cryptocurrency and click on “Filter”.
3. Sort the ads: specify the minimum exchange amount and payment method.
4. Select the offer and click on “Buy”.
5. Enter the number of coins to buy and follow further instructions of the platform.

Top 5 exchanges for bitcoin exchange

In 2023, several best trading platforms are highlighted. Their indicators are presented in the table.

How to buy bitcoins for dollars through exchangers

Market participants resort to conversion services because of their simple functionality and a wide list of available payment methods. Users can get digital coins using credit and debit cards or electronic payment systems. It is also possible to buy cryptocurrency for cash.

Selection criteria

There are a lot of offers on the market. However, most of them are either associated with fraud or have a dubious reputation. The table lists the conditions that you need to pay attention to when choosing a service.

Step-by-step instructions

Usually, customers do not need to register and go through the verification process. Most exchangers also have mobile apps for smartphones. Scheme how to buy BTC for dollars:

1. Go to monitoring.
2. Choose a platform based on the rating and customer reviews.
3. Specify the method of payment and the asset that you need to get as a result of the exchange.
4. Write the amount, wallet address, full name.
5. Transfer money to the specified details.

It may be necessary to provide additional data. Before making transactions on the platform, it is necessary to study the user agreement and working conditions.

P2P-platforms

Another way to convert cryptocurrency into cash is to use a peer-to-peer exchange. If on centralized exchanges the spot price for digital assets is set by thousands of traders simultaneously executing buy and sell orders, on P2P platforms the investor sets his exchange rate.

The participant includes a commission in the price to ensure the profitability of the transaction. It is necessary to compare the rate with the exchange rate.

Peer-to-peer platforms offer customers several payment options: cash deposit, bank transfer, payment from an e-wallet. Users can also sell gift cards in exchange for cryptocurrency.

Telegram bots

Popular exchangers and P2P exchanges give users the opportunity to convert fiat in messenger. This is a fast and convenient way. However, it is associated with risks – for example, you can fall for a fraudulent program. To buy Bitcoin for dollars in the Telegram-bot Prostocash, you need to:

1. Connect to the program by clicking on Start.
2. Go to the “Exchange” tab.
3. Specify the payment method and currency.
4. Select the asset to be received.
5. A window will appear with information about the available reserve, transaction limits and exchange rate.
6. Click on “Give X amount of RUR”.
7. Enter the amount and pass the captcha.
8. Specify the card number, sender’s full name.
9. Write the address of the wallet.

Then the service will require you to verify the card. To do this, you need to provide its photo against the background of the program. You can upload the file to the site or directly into the bot interface. After verification, a window will open with the requisites to which you need to transfer money. When the platform processes the payment, the coins will be sent to the previously specified wallet address.

Bitcoin buying rate for dollars

Since BTC is a volatile asset and its price is constantly changing, cryptoinvesting requires analyzing and monitoring. Market participants must track the exchange rate in order to buy coins profitably. For this purpose, additional tools that increase convenience when working with digital currency are used. For example, online calculators. Such programs provide the actual price of the coin and allow you to find out how many Satoshi the investor will receive for the available amount.

Author: Saifedean Ammous, an expert in cryptocurrency economics.