How to Buy Crypto and Bitcoin in 2024

The cryptocurrency market is the overall online cryptocurrencies trading venue, while cryptocurrency exchanges are those online platforms which allow the holders of any cryptocurrency tokens to trade those against or for other cryptocurrencies or even fiat, regular currencies. According to some recent estimates the current crypto ecosystem comprises over 2000 such exchanges and their numbers are growing constantly.

Though many may argue to the contrary, cryptocurrencies have many benefits, chief amongst being that they can replace fiat money in every type of transaction, while also offering an alternative way to invest. Cryptocurrencies can be traded easily due to the numerous exchanges now in operation, while, because everything is fully encrypted in code, all transactions are secure and both the buyers and sellers of crypto can keep their personal data completely safe and anonymous. In fact, transactions in certain types of cryptocurrency such as Monero, are 99.9% untraceable.

The main characteristic of cryptocurrencies is that they constitute a completely decentralized payments system, and therefore users can perform transactions without the involvement of any traditional financial institution. Such crypto transactions may occur online or in person without even the use of the internet. In fact, due to its unique set up and sophisticated authentication system the cryptocurrency is perhaps the fastest and simplest way to send payment anywhere in the world, almost instantly and at a very low cost. You simply need to log into your crypto wallet and send funds to any other crypto wallet holder. Crypto accounts are not bounded by geographical borders, nor can they be controlled by country specific regulations, therefore through a cryptocurrency transaction you can easily move your assets from country to country around the world. Transactions are almost instant and may take from 3 seconds to a maximum of a few minutes for the crypto coins to be received by your intended recipient, who can then immediately proceed to make another crypto transaction themselves.

The available ways to buy Bitcoins and other altcoins as well as the accepted payment methods for such purchases differ from country to country and depend on local supply and demand, as well as on local rules being enforced by watchdogs, regulators, banks, payment processors etc. However, you can easily search for and obtain online, accurate and useful information on exactly what options are available for you. Besides what is available you can also find which options are the best, in terms of convenience and cost effectiveness. Consult our country guides to find out more about the purchase of Bitcoins and other cryptos in your country of residence.

The purchase, sale and trading of Bitcoins is legal in most countries, or at least there is no legislation against it. However, the popularity of cryptocurrencies and the fact that they are today to widespread that in many countries they have become almost mainstream, has ruffled the feathers of many traditional banking and financial institutions, as well as central banks and governments, who view the digital antagonists of fiat, government issued and regulated currencies with dismay. This has led to attempts to ban Bitcoins and other cryptocurrencies, but such bans are in reality almost impossible to enforce, as cryptocurrencies are digital assets in the form of codes. Their use may be restricted, but all out banning them is not attainable.

The overall Bitcoin protocol is very safe indeed and impossible to hack, at least under current conditions. Moreover, as there is no centralized system any failure at a single point cannot control or manipulate the overall ecosystem. When it comes to the safety of the Bitcoins in each person’s possession, that may come under attack and be compromised, but such safety is the sole responsibility of each Bitcoin owner, to ensure the coins are kept safely in dedicated Bitcoin wallets, preferably in their hardware form, which is not as vulnerable to security attacks and hackers as software crypto-wallets.

Bitcoin is very much real and it does qualify as to the main attributes and uses of money. If by real money we mean a store of wealth and a medium of exchange, i.e. through which you can pay to buy goods or pay for services rendered, then Bitcoin is very real indeed. Moreover, as money, Bitcoin is also durable, yet divisible and completely portable, whilst also being fungible and interchangeable. In contrast to fiat money, i.e. money issued, circulated and controlled by governments across the globe, Bitcoin is merely not tangible as it doesn’t come in the form of paper money.

Early adopters and holders of Bitcoins became incredibly wealthy a few years back, since its price increased by more than 10 million percent in the decade of its existence, while most analysts estimate that this upward trend is set to continue in the future and may even spiral further up. This being said, certainty cannot be achieved as the price and value of Bitcoins is extremely volatile. For more seasoned and skilled crypto market traders, who can read the market trends and even anticipate them and know when to trade, when to buy and when to sell, the trading of Bitcoin holds great potential for achieving profits. However, for novices it may be too risky and may lead to devastating losses, especially if they recklessly use leverage. Therefore, for those lacking the necessary experience and expertise, the buying and holding tight method is perhaps much more profitable and secure in the long-term.

Just like it can be bought and paid for with fiat currency, Bitcoin can surely be converted back into cash, in any fiat currency, or at least the major ones. Nowadays, most crypto-exchanges offer this service. Moreover, the newly launched crypto debit cards are a very convenient tool since they can be used at ATMs, allowing their holders to withdraw cash from their Bitcoin of other crypto funds.