Lifehacks for those who don’t know how to buy Bitcoin (BTC) for US Dollars (USD)
Both USD and Bitcoin are popular means of payment, and in certain circumstances there is a need to exchange fiat for crypto. Traders, investors and other people who regularly carry out such transactions know where and how to do everything quickly and without unnecessary risks. Another matter is beginners who want to buy Bitcoin (BTC) for US dollars (USD), but are afraid of running into scammers or losing too much on commission. From the review, you will learn the key points for organizing transactions and life hacks that allow you to make them as profitable and safe as possible.
Which service for exchanging USD for Bitcoin is better to use
The most important stage of preparation for buying Bitcoin (BTC) for US dollars (USD) is to determine the appropriate service. It should be:
- easy to use, so you do not have to spend a lot of time studying the interface;
- reliable – with the help of bestchange.com you can easily find a portal with good reviews and a high rating;
- transparent, that is, the user must clearly know all the terms of use of the platform;
- safe – in addition to encryption algorithms, pay attention to the terms of the user agreement (they indicate how the site has the right to manage personal data);
- fast-acting, so that waiting for the result of the USD to BTC exchange does not drag on.
In total, there are three types of services where you can buy Bit Coin for fiat, and each has its pros and cons. Exchanges sometimes offer more favorable rates and guarantee data protection, but require clients to undergo complex verification and do not always please with high speed of work. Direct exchange services (P2P) are risky to use, but the commissions are minimal. Exchangers, compared to the rest, seem the most attractive, since they do not require identity verification (sometimes you can even not register), set moderate commissions and make transfers as quickly as possible. An additional advantage is the lack of limits on the purchase of Bitcoin cryptocurrency.
Secrets of a profitable and fast purchase of cryptocurrency
Anyone who makes a purchase of coins for US dollars or another currency should understand one truth – exchangers earn on each transaction, accordingly, it is important for them to attract new customers. In this regard, it is necessary to distinguish between the stated and actual conditions in order to successfully exchange USD for Bitcoin. Here are a few secrets that will come in handy:
- Do not create an e-wallet without first studying the tariffs and other aspects of its use. Keep in mind that many scammers create fake wallets to appropriate other people’s assets.
- Monitor the dynamics of the rate. It is important to clarify the cost of the cryptocurrency not only on the day of the transaction, but also over the past 1-2 weeks. It is unprofitable to buy on the rise, unless further growth is predicted.
- Make the first few transactions to purchase Bitcoin (BTC) for small amounts to make sure that they go through.
- When filling out the form, carefully enter each digit and be prepared for the bank to send a request in the application to approve the transfer from a dollar card.
If the service is verified, then the risks are initially minimal, but inattention can lead to unnecessary problems. Therefore, check the entered amounts and details in order not to lose money and receive the expected amount of BTC to your e-wallet in a short time.
