The Safest Ways for Bitcoin Trading
By Robert Wilson, Freelancer
During the year 2021, we experienced history in the cryptocurrency niche with the 3rd Bitcoin halving event unfolding. There has been unprecedented hype after this news with a great rise in interest for the coin around the world. More and more people are expressing their interest in learning about the places to buy Bitcoin safely and some are asking about how to become a reputable Bitcoin trader. Although the recent stats may dishearten you in getting into Bitcoin or crypto for the first time, it is a good idea to get into digital currencies.
Using VPN
The VPN allows you to hide the IP address and it provides better anonymity on the internet. It is possible to trade the cryptocurrency more securely by using the VPN because it can encrypt the internet connection you are using with the external server. This makes sure that your data is secure. Luckily for the Bitcoin traders, almost all the crypto exchanges use HTTPS end-to-end encryption for their activities. So, the hackers can’t intercept the data this way unless the device you are using is susceptible to other security vulnerabilities. VPN adds another layer of security to the proceedings making your online activities anonymous. You can read VPN reviews online to get the most suitable alternative for your case. If VPN doesn’t seem the right option, try using Residential Proxies as a way to secure your privacy and browse anonymously.
Secure avenues for trading Bitcoin
Here are some secure avenues for trading Bitcoin.
- Using Fiat to Bitcoin exchanges
Using a reputable and well-established cryptocurrency exchange is a simple and convenient way of buying Bitcoin for fiat through your bank account. The term “fiat” is utilized in the cryptocurrency sector for denoting government-backed currencies such as GBP, USD, or JPY. You can buy Bitcoin from several exchanges and the more dependable ones are secure and straightforward to use. But, keep in mind that if your currency is stored custodial meaning you do not hold the private keys, and if the exchange crashes or gets hacked you will lose all you’re holding. Therefore it is a good idea to move your funds to a private non-custodial wallet quickly after buying Bitcoin. Just keep the bare minimum currency required for the transactions. Remember, there are many fake exchanges on the internet that cheat gullible people. Investors should only use regulated exchanges that display their permits on their sites.
- ATM Action
If you take into consideration convenience there is nothing to beat the Bitcoin ATMs especially when you are located near one of these machines. The buying process is stress-free and it is similar to depositing the fiat money in the ATM and then the BTC coins afterward. The accurate info about the machines can be found on Coinatmradar. There are more than 7000 crypto ATMs available across the world. They allow people to use cash and debit cards for buying Bitcoin and other similar digital assets. It is also possible to convert BTC into fiat. More than 5000 ATMs are located in the U.S. alone. Unlike conventional exchanges, these ATMs allow the users to access a physical kiosk where it is possible to trade fiat with popular digital assets such as ETH, BTC, and LTC.
- Using a credit card
Another quite simple way of purchasing Bitcoin is by using credit cards. It is possible to do this from buy.Bitcoin.com and the users may select either BTC or BCH (Bitcoin Cash) for the transaction. After you have clicked the Buy button you will get a prompt pop-up asking you to enter your Bitcoin wallet address. For the users not having a BTC wallet, you can find simple and clear instructions through a “Need a wallet?” alternative. It offers assistance in downloading one for free. Even though this alternative normally charges a fixed service charge, it is a quick and convenient trade-off.
Conclusion
As we enter 2022, there are several references out there for buying Bitcoin. But, due to the availability of these many alternatives you are going to come across scammers and fraudsters who will also be geared up to get a piece of your hard-earned coin. Therefore the crypto-buyers have to be vigilant as there are several dishonest exchanges, sellers, and services out there. Ensure that you are buying from a credible source.
About the Author
I’m Robert Wilson and I’m a security software developer with three years of experience as a freelancer. I research, design, implement and manage software programs I test and evaluate new programs. I’m very passionate about writing, reading, and drawing.
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