How and where to buy bitcoin profitably

How and where to buy bitcoin profitably

There are a lot of possible ways to buy bitcoin, but the simplest one is to buy it on the exchange. All you need is just to create your own cryptocurrency wallet and figure out where and how to buy cryptocurrency.

Where and how to buy bitcoin profitably?

Bitcoin is one of the most stable cryptocurrencies despite its volatility. As of 2018, its average value is about 7000 у.е. A relevant Bitcoin exchange rate can be found on the Internet.

Bitcoin's significant advantage is that you should not necessarily buy the whole one: you can purchase a third or fourth, or even hundredth of this cryptocurrency unit.

There are several methods to buy bitcoin:

  • exchange offices;
  • exchanges;
  • cryptocurrency ATMs;
  • cash;
  • P2P.

The exchange office is considered to be the most popular and available method. The market has more than enough of them. You can monitor and select the most profitable exchange rate using special resources, such as bestchange. website allows to compare relevant offers and is some kind of reliability guarantee: prior to the exchange, you can read users’ feedback or leave a complaint if exchange operations dissatisfy you.

The majority of services accept various payment methods and feature the similar transaction concept: registration (if necessary), completing a form to exchange a required amount of bitcoins or Satoshi, transferring cryptocurrency on users’ account.

Important: the bitcoin rate on the exchange and in exchange offices will be different, as well the official rate of fiat currencies and their value in exchange shops.

is no wonder that bitcoin purchase using the exchange is also quite popular. It is a bit harder than using exchange offices but more beneficial when buying huge sums of cryptocurrencies because of the absence of overpayments. To conduct exchange operations, you should sign up and pass the verification. Besides, the more reliable resource, the more complex process: the Bitfinex verification process can take up to two months, but you will be sure of safeguard of your finances.

To avoid exchange fuss and fees, you can use P2P websites. They allow private salespeople and customers to find each other.

A more risky option to buy bitcoin is cash: you meet with a person and pay cash for transferring money to your cryptocurrency wallet.

However, the rarest way is to use cryptocurrency ATMs, as such equipment is not widespread.

Bitcoin purchase in Ukraine

The most part of Ukrainian cryptocurrency transactions are conducted via the Privat24 system. Ukraine does not have any legal exchanges due to the absence of legislative regulation. At the same time, there are several reliable resources allowing to buy cryptocurrencies (for example, btc.trade).

The purchase concept and operating procedure are similar to the common scheme, except that exchange accounts are primarily refilled using the Privat service.

How to buy bitcoin in Ukraine? Adhere to the following actions:

  • Transfer funds to your account.
  • Create an offer with a certain price.
  • Buy.

Important: you are allowed to spend 15 000 UAH for a single transaction, but the total sum of expenses should not exceed 150 000 UAH per day; otherwise, you will have a long talk with the tax agency.

Transaction revenue is taxed, but cryptocurrency is beyond regulatory environment. Therefore, its operations are legal but accompanied by risks.

How to sell or exchange bitcoins?

Bitcoins can be both sold and bought using exchange offices or exchanges. If you already have reliable and user-friendly resources, you’d better keep using them. Selling and purchasing concepts are similar.

the way, experts do not recommend to be hasty in selling cryptocurrencies. Despite the drop in the value in comparison with the previous year, Bitcoin is still considered to be the most promising. Especially given the fact that it can be bought cheaper now and be sold more expensive later.

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