5 Ways To Buy Bitcoin
Buying Bitcoin
After reading this article you will have more than one way to buy Bitcoin, whether you want to buy it to hold as an investment or to exchange it for other currencies.
Bitcoin is a decentralised, non-cash currency, but it can be traded. We know that every one US dollar contains 100 cents, which is a smaller unit; likewise Bitcoin has a smaller unit called the satoshi, where 100 million satoshi = 1 Bitcoin.
When you buy Bitcoin you are not required to buy a whole unit of Bitcoin; you can buy as much as you want. For example, you can buy Bitcoin worth 1,000 US dollars, or less, or more, and you can use the bestchange site or the conversion tool on our site to work out this amount at the current price you will buy at.
Buying Bitcoin is not as difficult as some people imagine.
Ways to Buy Bitcoin
The first way {Websites}:
These sites hold Bitcoin and let you buy Bitcoin through them, and they charge a commission on the purchase or the withdrawal, which varies from one site to another. Deposit methods vary too: some sites offer a large number of deposit methods and others offer a limited number. The most popular or well-known deposit methods on these sites are the credit card or Visa, or well-known electronic banks such as PayPal, Neteller, Skrill or Perfect Money. On our Bitcoin purchase page you will find a list of well-known Bitcoin-buying sites, so you can look through them and choose what suits you in terms of the deposit method that is easiest for you.
The second way {Platforms}:
Some digital-currency platforms let you buy Bitcoin with dollars. For example, the yobit platform lets you buy Bitcoin with dollars, so you can deposit on the platform using the deposit methods available to them.
The third way {Bitcoin wallets}:
The third way to buy Bitcoin: some Bitcoin wallets let you buy Bitcoin. For example, the well-known xapo wallet lets you deposit through the electronic bank Neteller, but you should always check the commission rate for both deposits and withdrawals with these wallets.
The fourth way {Intermediaries}:
An intermediary is a person you place a Bitcoin buy order with and pay, whether by transfer or through electronic banks such as Neteller, or however you agree between you, and then this person or intermediary transfers the Bitcoin to your own wallet. But intermediaries do not always have Bitcoin available, their price is usually high, and choosing a trustworthy intermediary is the harder task.
The fifth way {Groups}:
The fifth way to buy Bitcoin: there are many cryptocurrency groups on Facebook, and on them are people who want to sell the Bitcoin they hold. But you must be extremely careful with these groups because scammers are common.
You now have a general, broad idea of the ways to buy Bitcoin. The most used of the methods explained here is buying from websites, which also includes the electronic banks themselves.
Buying Bitcoin in Egypt
You can buy Bitcoin in Egypt through trading platforms such as Binance, which lets you buy Bitcoin via Vodafone Cash, or buy Bitcoin with Visa. The Bitcoin buy price is the global price at which the currency is traded.
Read also: What is Bitcoin? And how do you get it? Your full guide.
Disclaimer: This article is for educational purposes only and is not investment, financial or trading advice. Cryptocurrencies are highly volatile and CFD/leveraged products carry a significant risk of losing money rapidly; you may lose more than you deposit. Do your own research and only risk money you can afford to lose. Some links on this page are affiliate links: we may earn a commission at no extra cost to you, and this does not influence the information provided.
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