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How to buy Bitcoin and Cryptocurrencies

Cryptocurrencies are electronically generated digital currencies that were created to increase the security and speed of money transfers. Their fair value depends on the supply and demand of their users. Unlike traditional currencies, their conversions are therefore very fast and very cheap, the transparency of the conversion system is maximum and the data on the converters are almost zero. These properties are the basis of their popularity, thanks to which the price of one Bitcoin, the most famous cryptocurrency, exceeded the limit of 40 thousand US dollars at the end of 2021.

Quick Summary

Set up a cryptocurrency wallet.
Find the nearest cryptocurrency machine or connect to an online cryptocurrency exchange or exchange.
Buy cryptocurrencies like Btitcoin.
Store cryptocurrencies, pay with them or sell them at a better price.


Market situation. The extreme rise in the price of cryptocurrencies at the end of 2017 caused a huge media frenzy, thanks to which almost everyone learned about cryptocurrencies, especially Bitcoin. Although Bitcoin has fallen sharply since then, it has dropped to $ 3,000, on June 24, 2019, its price climbed back to $ 11,000. At present, therefore, its price is far from reaching the past possibilities, which may be a promise for everyone with interestingly valued invested money. How to get Bitcoin and other cryptocurrencies?

Cryptocurrency wallets. Like classic money, you have to keep cryptocurrencies somewhere. So far, however, they cannot be stored in bank accounts or even in classic wallets. You must have special cryptocurring wallets for them. These wallets are either software or hardware. In the first case, it is a program on a computer or phone that behaves similarly to online banking. The hardware wallet is most often a kind of USB flash drive to which cryptocurrencies can be uploaded. Both types then show the number and types of cryptocurrencies owned and the address, ie the specific account number that is used to receive cryptocurrencies or as an address to send. For example, the Wirex wallet is used for software storage of cryptocurrencies on a computer, the Vault hardware wallet is used for software, and the Bread Wallet wallet is used for mobile software.

Where to buy bitcoin and cryptocurrencies? If you already have a cryptocurrency wallet, you can proceed to the purchase of cryptocurrencies, which always takes place through an intermediary, an internet exchange, an exchange or, for example, a bitcoin machine. The simplest offline solution is to purchase using a bitcoin machine, the location of which you can find out here, for example. Then you only deposit money into the machine, choose from a very limited list of cryptocurrencies, enter the scanned address of your cryptocurrency wallet and complete the purchase. The fastest online solution is through an exchange office (SimpleCoin, CoinMate, CoinBase, Changelly, etc.), which allows quick purchases often without registration and verification of the buyer. Compared to stock exchanges (eg Binance, Bitfinex, Bithumb, etc.), where registration and verification of the buyer is required, there is usually a higher purchase price. Nevertheless, this route is much more accessible for beginners, which is why we will show you a purchase here at the very popular SimpleCoin exchange office.

Purchase bitcoin and cryptocurrencies on SimpleCoin. The cryptocurrency exchange office works in the same way as conventional exchange offices. Here, too, money is exchanged for cryptocurrencies without having to deal with anything else. Thus, for people starting with cryptocurrencies, cryptocurrency exchanges are ideal. SimpleCoin has been in existence since 2013.

Purchase of bitcoin or other cryptocurrencies on the stock exchange. If you already have some experience with cryptocurrencies and would like to trade more with them, cryptocurrency exchanges are available (Binance, Bitfinex, Bitmex, etc.). Their basic principle is that the client who wants to buy or sell is mediated by the seller or buyer. Eventually, the stock exchange will also arrange for the trade to take place. Thus, prices are determined by supply and demand, and there are so many counterparties that the trade is mediated almost immediately. The advantage over exchange offices is that the customer gets almost the best price that can be obtained at the moment. Exchanges also allow trading in cryptocurrencies, not only ordinary exchange, but also Market, Limit, etc. However, the disadvantage of exchanges is the need to register and verify the customer.

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