Buy cryptocurrency online

In connection with the rapid development of cryptocurrency and technological systems, a need arose to create a convenient service for processing currency transactions. The WELLCOINEX licensing platform was designed to optimize cryptocurrency transactions, including online transfers, sales, conversion and purchase.

Why do I need a crypto wallet when buying currency

Through the WELLCOINEX service, you can buy any type of cryptocurrency in several ways, however, for this you need to be a member of the system through registration and authorization. Bitcoin is among the most popular currencies, but in fact their number reaches 900. The TOP cryptocurrencies that are gaining popularity today include: Dash, Ripple, Ethereum and Litecoin. Therefore, if you want to purchase currency, then you do not need to stop only on bitcoin.

To buy currency on WELLCOINEX, the user must have a crypto wallet opened, to which funds will be received after a financial transaction. A wallet is a program that stores keys for all transactions made. Buying cryptocurrency, you get the right to use it, since it exists only in digital format. Having access to your crypto wallet, you completely control the keys and records that are stored in the blockchain in the future.

The crypto wallet program is installed on a mobile device or computer, in the form of an application or platform. After installing the program and registering a crypto wallet, the user receives access keys, so no one else can use the currency besides him. Also, wallets can be monocurrency or multicurrency. It is best to open a multi-currency crypto wallet that will allow you to store several types of currencies at the same time.

Ways to buy cryptocurrency

Today on the Internet there are several ways to buy cryptocurrency online, which we will discuss in detail below.

The first method: Buying currency through a crypto wallet

A cryptocurrency wallet provides currency exchange. Thanks to this function, the user can exchange fiat funds for bitcoins or another type of currency. To do this, click “Exchange” and select the type of currency with which the conversion will be carried out, as well as indicate the method of payment: bank card, terminal, wallet. The field of this indicates the amount of the transaction and the operation is carried out. After a couple of seconds, the system will inform you of the successful completion of the transaction, and the purchased cryptocurrency will arrive in the wallet.

Pros:

  • The speed of the transaction.
  • User friendly interface.
  • Integration with any type of payment systems.
  • Reliability.

Minuses:

  • Sometimes not a favorable exchange rate.
  • Commission.

To make a profitable purchase of currency, it is better to use the WELLCOINEX service, so you will save on paying commissions, for example, with Kryptonator it is 8% of the transaction amount.

The second way: Buying currency on the exchange

Due to the popularity of cryptocurrencies, a large number of exchanges have appeared on the market that specialize in buying and selling currencies. Exchanges are web-based platforms where users can convert, purchase and exchange cryptocurrencies. Work platforms according to the scheme:

  • The user is registering.
  • Contributes to the account.
  • Indicates the type of cryptocurrency.
  • Transaction amount.
  • Sends an order.
  • Waiting for confirmation to come.
  • After a successful operation, funds are transferred to the specified account number or wallet.

Exchanges are not suitable for storing cryptocurrencies, as they often encounter scammers, interruptions and bankruptcy. In terms of security, exchanges are inferior to crypto-wallets, so it is recommended that after a successful transaction, immediately withdraw the currency to your wallet.

It is easy to determine the exchange rate on the exchange, it is enough to indicate the type of cryptocurrency and click the “Search” button, after searching you will be presented with information on all offers, which will allow you to choose the rate that is most suitable for you. Currency purchase implies instant transactions on an order at the exchange rate or at a quote. In the latter case, the operation will be completed when the actual cost reaches the value you specified. Thus, the user can not only make a purchase, but also earn.

Pros:

  • You can choose your own most suitable exchange rate.
  • A wide selection of cryptocurrencies.
  • Additional income.
    Integration with all payment systems.

Minuses:

  • Long processing order.
  • Commission.
  • Hidden payments.

Most often, users choose exchanges for buying currencies: EXMO, Poloniex and Bittrex.

The third way: Buying currency in the exchanger

Many exchanged cryptocurrency for fiat money through various exchange services. Exchangers work in a similar way. In certain cells you indicate the currency you want to exchange and receive. The system calculates and indicates the amount to be paid for the conversion. If everything suits you, you need to click “Exchange”, after which the funds are debited from the account.

You can also indicate in the exchanger the amount of funds that you are willing to spend, and the system will calculate how many cryptocurrencies you can purchase for this money.

Pros:

  • Large selection of exchangers on the network.
  • The speed of the transaction.
  • Integration with any payment system.
  • Security of transactions.

Minuses:

  • Compared to the exchange, the rate is less profitable.
  • The transaction amount is limited by the number of cryptocurrencies in the exchanger.
  • Commission.

The best exchangers today are: UniObmen, WestChange and GoodObmen.

Fourth way: Buying currency using a mobile application

This method is suitable for lazy users. You need to install the application on your mobile device, launch it and enter the amount of cryptocurrency that you want to receive. Payment is made through online banking. Confirming the operation, the purchased currency immediately goes to the wallet. After installing the application, the user automatically opens a wallet from which funds can be withdrawn to the main crypto wallet.

Pros:

  • Fast exchange.
  • High security.

Minuses:

  • Applications most often work only with the currency Bitcoin.
  • The success of the operation depends on the course.
  • The transaction amount is limited.
  • Payment is carried out only through the online banking system.

The most common applications today are: Coinbase, BitPlay, BitcoinCore, Bitxfy.

Fifth method: Buying currency from other users

To purchase cryptocurrency in this way, the user needs to register on one of the exchanges operating under the “person-to-person” scheme. These services operate according to the type of OLX and Avito systems, but only transactions are made with cryptocurrency. To sell currency place an ad, other users of the system find and buy it.

After registration in the system, you automatically receive a wallet, which will receive the purchased cryptocurrency. In the future, it can be withdrawn to your crypto wallet. Search for offers takes place in a special column, near which a magnifying glass is placed. To search, it is enough to indicate the amount and type of cryptocurrency, for example: 25 bitcoins.

When you select an offer, you send a message to the seller requesting the transaction. He sends his details and after payment sends the currency to your wallet.

Pros:

  • Huge selection of offers.
  • The transaction threshold is minimal.
  • There are no hidden commissions or payments.

Minuses:

  • The bulk of the offers are only bitcoins.
  • Low security, as there is a high risk of fraud.
  • Depends on the payment method proposed by the seller.

The most reliable and popular platform today is LocalBitcoins, which began operating in 2012. The platform is designed primarily for Europe, but there are proposals from the Russian Federation, Belarus and Ukraine. Therefore, when choosing an ad, you should pay attention to the region and method of payment. Since, for example, in Ukraine it will not work to pay cryptocurrency from WebMoney due to the sanctions introduced until May 2021.

Sixth way: Buying cash for cash

If the user does not have a bank card or cryptocurrency wallet, then he can purchase cryptocurrency for cash. In Ukraine, a similar operation can be carried out using the iBox payment terminal. To do this, go to the “Electronic Money” menu section and select BTCU.biz, after authorization, deposit cash into the virtual current account. After making the payment, you will receive a check where the code will be indicated, it must be kept on the btcu.biz website and in the future to buy the necessary cryptocurrency.

Using bitcoins gives a great opportunity to buy currency. They are terminals that allow you to make transactions for fiat funds. Through them you can purchase: Bitcoin, Litecoin, ZCash and Ethereum. Bitcoins are common in European countries.

Pros:

  • Opportunity to purchase cryptocurrency for cash.
  • No need to open a card in the bank and install a crypto wallet.

Minuses:

  • Using the terminal, you can only buy bitcoins.
  • Bitcoins are available only for those citizens in the cities of which they are installed.
  • The transaction amount is limited.
  • Commissions.
  • The course is set by the provider.
  • The purchase of cryptocurrency occurs at the rate set at the time of the transaction.

You can buy cryptocurrency in one of the above ways, so each person can independently choose the most suitable option for him. Each of the methods has its own “pitfalls.” If you are just getting acquainted with the cryptocurrency market, then for making transactions it is better to practice small operations and use proven services such as WELLCOINEX. Here you will be offered a favorable exchange rate, transaction security and instant transaction with a minimum commission size.