How to buy Bitcoin (BTC) for US dollars (USD): an overview of ways to buy “digital gold”

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Bitcoin confidently occupies the position of the leader in the cryptocurrency market. Its price is a fortune by the standards of many people. However, only a few people can mine the coin, because Bit Coin mining is complicated and involves a lot of costs. The optimal way to get the coveted becomes its purchase. It remains to sort out the methods and choose the one that suits you best.

Available ways to exchange USD for Bitcoin (BTC)

To buy “digital gold” for American currency (more precisely – to exchange USD for BTC) there are many ways:

cryptocurrency exchanges;
online exchanges;
P2P platforms;
channels in Telegram;
applications that supplement hardware wallets;
bitcoin ATMs.

The last option could be called almost ideal if it were widely available. But the geography of such devices is severely limited. Therefore, next let’s consider the rest of the exchange methods that are real.

Centralized crypto exchanges

The cryptocurrency Bitcoin is traded on all centralized cryptocurrency exchanges (Binance, Coinbase, Kraken and more). These platforms provide traders with excellent opportunities to earn money by buying and selling cryptocurrencies for dollars, and you can fund your account there for subsequent settlements using bank cards, bank transfers and other payment methods.

On the exchange you can exchange USD to Bitcoin (BTC) at the most favorable rate and do it with guaranteed security, but the procedure is complicated, time-consuming, involves verification of the identity of the bidder, which is unacceptable for most participants of the crypto market.

Online cryptocurrency exchangers

Electronic exchangers are considered the most successful choice for a beginner and for one-time investments in Bitcoin. Online services have a simple and intuitive interface, easy to use, simplified work procedure, security and confidentiality. The exchange process takes a few minutes (if the network is not overloaded).

Exchangers are participants of the transaction, so the client does not have to wait for a suitable offer to appear. It is only necessary to fill out a small application and pay the invoice, after which the service will send the purchased BTC to the buyer’s wallet.

P2P exchange platforms

P2P platforms are platforms that connect buyers and sellers of cryptocurrencies, who can independently agree on the terms of the transaction. On the one hand, it attracts the prospect of bargaining an excellent rate of buying Bitcoins for US dollars (USD), which will be better than on the exchange or electronic exchanger, but on the other hand – entails risks due to the fact that the specialized platform does not guarantee the reliability of counterparties and is not responsible if one of the parties will cheat.

Telegram channels

Recently, there have appeared a lot of Telegram channels offering cryptocurrency exchange. This method can be called the riskiest without exaggeration. There are too many scammers out there, and there are no guarantees. Despite the very tempting offers put out there, you should think a hundred times before taking a risk. Bitcoin is an expensive asset, even if you buy it in installments, and if you fall prey to scammers, you can lose a large sum of money irrevocably.