When choosing alternative assets for capital accumulation and preservation, many users choose Bitcoin. It’s truly an excellent choice. Although its high volatility, “digital gold,” can cause a nervous breakdown if it plummets, its quick recovery and meteoric rises compensate for any worries.
Ways to Buy Bitcoin (BTC) with US Dollars (USD)
The average person who wants to own this unique asset begins by searching for ways to buy Bitcoin (BTC) with US Dollars (USD) as cheaply and safely as possible. Traditional mining is out of the question, as it’s only available to a few. Of all the existing methods, two stand out in terms of reliability:
- crypto exchanges;
- online exchanges.
Crypto exchanges: what makes them attractive for buying Bitcoin with US Dollars, and why aren’t they suitable for everyone?
Cryptocurrency exchanges are multifunctional centralized platforms designed for active trading (trading various financial instruments, including BTC) with the goal of profiting from exchange rate differences when buying and selling. They offer options for buying, exchanging, and storing cryptocurrency. They also provide various tools necessary for a trader’s work (charts, analytics, etc.).
Advantages of an exchange:
- The ability to trade at the lowest, most favorable Bitcoin (BTC) – USD exchange rate;
- 100% security and protection from fraud.
Disadvantages of exchanges:
- Complexity of use (too many nuances to navigate);
- Mandatory identity verification (providing documents);
- Fees for deposits and withdrawals (always);
- Time-consuming (multiple steps and the need to wait for a suitable offer for the Bitcoin (BTC) – USD pair).
Online exchangers: why they are often preferable to exchanges for buying Bitcoin with US dollars
Online exchangers are services operating online and specializing in converting cryptocurrencies between themselves, into fiat currency, and vice versa. They serve a single purpose – exchanging currencies at a set rate; they provide no analytics or storage for digital assets. They are ideal for one-time, instant conversions.
Advantages of exchangers:
- Ease of use;
- Speed of transactions (no need to wait for offers, as the exchanger is the other party to the transaction and has already announced its prices for buying Bitcoin);
- No fees for deposits and withdrawals;
- Anonymity of transactions (not every exchange requires registration).
Disadvantages of this option:
- The rate is higher than the exchange rate;
- Risk of fraud.
BUT! These disadvantages are relative. Using a reliable, proven, and certified exchanger completely eliminates the risk of fraud. The fact that there are many exchange services and increased competition among them positively impacts profitability.
You can quickly find an online exchanger with a favorable rate for buying Bitcoin (BTC) for US dollars (USD) by visiting one of the monitoring portals. They track the price behavior of cryptocurrencies relative to other cryptocurrencies or fiat currencies and provide information to visitors about all the services featured in the ranking.
