Bitcoin Forum

Cryptocurrencies have gained a lot of attention recently, and more people are flowing into crypto. If you’re new to crypto and want to buy Bitcoin with fiat, start by choosing your payment method (credit cards, bank transfers, or digital wallets like Google Pay, Apple Pay, or PayPal).

Next, select an exchange that supports your payment method. Set up your account, link your payment method, and deposit your fiat currency. Once the funds are in, navigate to the Bitcoin section, select the amount you want to buy, and complete the transaction. For added security, consider transferring your Bitcoin to a secure wallet.

If you know another way to buy Bitcoin with fiat, share it in the comment section.

There are two other ways:

1. Peer to peer trade no KYC, the only difference is you don't have to KYC your account, but you require to fund your account https://bisq.network/getting-started/
2. Face to face trade aka direct peer to peer, just like what stated on bisq https://bisq.wiki/Face-to-face_(payment_method)

Fiat currency https://kycnot.me/?t=&q=&fiat=on
Cash https://kycnot.me/?t=&q=&fiat=on&cash=on

Above are lists for no KYC exchanges that allow you to trade with fiat or cash. Bisq and Peach can be one of your best choices.

If you don't care about KYC, check more exchanges with some websites and their information on available methods, trading fees, withdrawal fees.
https://exchangewar.info/
https://www.cryptowisser.com/exchanges/

Usually every exchange requires every user to complete KYC as in my country of residence. KYC is the privacy of each user that can be misused even though the party does not necessarily intend to misuse the data. If there is an option that allows users to buy Bitcoin without having to go through a KYC exchange, that would be better. It's not that there aren't any, exchanges that don't require KYC do exist but I have never made a purchase using an exchange without KYC like https://bisq.network/getting-started/

In my country the most common way for buying Bitcoin with Fiat money is through the peer to peer feature on centralized exchange. There is no other way that I know and the result is because the government prohibits buying Bitcoin directly from your bank account. Infact another law made exchanges to delist my currency's pair leaving us with only the P2P on exchanges. Physical P2P would only happen amongst friends and not strangers for security.

Yeah, at least P2P on CEX'es is protected by its authority, but then again, it's also its weakness, being the regulator of the funds that you've got if you leave them there.

And I think you also skipped one other one and for those who live in developed and developing countries can still buy their bitcoins through bitcoin ATMs but I think this also charges a lot for transaction fees that’s why I wouldn’t recommend this for anyone trying to hold.

Op I love the fact that you’re actually doing your best to put down something but I have some advise for you and I don’t know how best to say this not to bruise your ego but I think you should for us more on reading than trying to write, the more you read and read and catch up with people’s conversations, the more easier it will be for you when you want to write on a post or create a topic.
Goodluck.

The simplest way to purchase Bitcoin is via p2p trading that's available on exchanges like Binance, and those who have digital online banking wallets can easily purchase USDT via p2p and convert it to Bitcoin or convert it to Bitcoin.

It's always better to buy USDT first and then convert it to Bitcoin as most sellers overprice Bitcoin in p2p trading but USDT is often not much overpriced. That type of p2p has been working for me but if you want extra privacy then go with Bisq as that's the best decentralized exchange for p2p trading of Bitcoin.

Purchasing cryptocurrencies / bitcoin for fiat via electronic and bank payment systems leaves a digital "trace", so for complete anonymity, it is preferable to buy for cash. Control over the movement of digital fiat money is increasing worldwide, so if not now, then over time, questions may arise from government agencies regulating the financial sector, such as tax services and financial monitoring.

I saw the service of buying bitcoin for fiat (cash) money offered by a well-known green aggregator of exchangers, which previously held a signature campaign on the forum. Personally, I didn't use this method, but there were positive reviews for this service on that platform, and such a method still exists as an alternative.

Some beginners consider Cex to be one of the best and easiest ways to buy bitcoin, but in some cases, passing the KYC could be very annoying for some citizens as the KYC process is not the same for all countries.
 
If you are just buying a few bucks, is it really worth it for you to risk your identity document to those exchanges that you don't know to what length they can use your data?
 
And oh yes, as long as the P2P is on centralised exchanges, it's entirely not P2P. The exchange is helping you to act as an escrow, and at the same time, they are also helping you to keep a record of those transactions, not only for the two parties involved in the deal but also for any regulatory body that might ask for it in the future.

It is easier and more convenient for investor to purchase and sell their bitcoin and it is the same for traders with more available cryptocurrency and trading pairs on centralized exchanges than on decentralized exchanges.

If they think deeply, and they are carefully with practice to protect their privacy, they will not choose centralized exchanges that almost require KYC. KYC breaks privacy and they can not delete their accounts on centralized exchanges after doing KYC. Using CEX or not, it is a big answer which must be known by each person at beginning.

That is true. In some instances, there are users who cannot avail to pass on the KYC if they are from restricted countries for which doesn't allow them to trade easily within the centralized exchanges P2P market.

To be honest, the market has changed from the perspective of being decentralized to centralized and from non-kyc to kyc.

It seems that despite we still have few choices about non kyc exchanges and p2p markets, the world is slowly adopting into kyc exchanges and making it as a normal thing to comply.

Bitcoin is still illegal in our country so it is impossible to buy Bitcoin through bank transfer, debit card or credit card in this country. So most of the people who buy bitcoins for investment here buy through P2P. Although Cex is not safe for us, we can buy bitcoins through these exchanges.

But we can easily buy Bitcoins with fiat currency through Peer to Peer (P2P) trading of centralized exchanges like Binance, KuCoin. But to trade in these exchanges (CEX) first KYC is mandatory then you will be allowed to trade here. You can buy Bitcoin using the fiat currency of any country in the world you are a citizen of. First convert fiat currency to dollar or usdt via p2p then buy bitcoin.

If they don't know you use bank transfers for purchasing bitcoin and cryptocurrency, you will not have any problem with banks and your bank accounts. There are ways to do Bitcoin trade without informing banks that you make bank transfers for cryptocurrency related trades.

Peer to Peer trading is one of ways to do this in nations with Illegal status for bitcoin and cryptocurrency. The Legality Map shrinks with less and less nations with Illegal status because Bitcoin adoption is increasing.
https://newhedge.io/terminal/bitcoin/legality-map
https://coin.dance/poli/legality

However, in my country the purchase of Bitcoin with Fiat money is also through a centralized exchange. We can understand this and so far it is still considered not yet a problem that is worried.
In the section there is no other way besides having to use centralized exchange, we are on one side in a position that is not restrained by the rules because the status of Bitcoin should not be used as a means of payment other than the Fiat currency. If we want to make Bitcoin as an investment, sell and buy, we are not prohibited.

Yes, I thought that you are not going to add the risk on going P2P, because they are, specially face to face with a stranger. We all know about the $5 dollar wrench attack. And recently, we have Israeli tourist being robbed of $700k worth of crypto in Costa Rica, so it's a dangerous world we live in.

And with that, we should be very careful of P2P, it's good to happen amongst friends, but if not then you should go and meet in a public place where there is a lot of people and you should also had someone to watch your back.

We need to use different wallets for different things and this practice can help us avoid severe problems with wrench attacks too.

It's bad story but people can be robbed in cash, fiat currency or Bitcoin, cryptocurrency.

If it is trade in person, it's risky and we should avoid trading with strangers. With P2P trades on platforms, not in-person trades, it's safer and we can choose old and trusted trade partners for our trades.

On P2P platforms, we can minimize risk by choosing trade partners with old accounts, and with good trade history, many successful trades, majority of feedbacks is good (positive). They might not provide best offers on that platform but we need safety more than best offers. If we choose best offers in offer rates, we will more likely find scammers who will use best offers as honey pots.

Does it mean that bisq is not allowed in your country? The challenge we have here is that our cards are not accepted most of these platforms for direct purchase because of our government regulation. So the only way we buy crypto is through P2P in regulated exchanges or through agents, although this one comes with high risk because some of those agents are scammers. Our government is seriously fighting crypto users and that is frustrating many businesses including exchanges that were operating in my country.

If it's P2P then they're not protected, you will be provided escrow until the trade ends but still there are chances for the other person to charge back because most of the fiat transactions can be reversed so don't think trading on Binance P2P is completely safe and there are lot of reports available about how scammers used Binance P2P to scam people by buying Bitcoins via hacked bank accounts and stolen credit card.

I think you mentioned all I know already. Although I don't know that one can also buy with Apple Pay but I recently bought some via Google Pay on Bitget, announced here (https://www.bitget.com/support/articles/12560603814503) some days back which is new to me. I did that because of the 10usdt bonus that will come with it, lol.
So, I think crypto purchase is really getting easier than ever, and I think it will keep getting easier over time.

So in addition to  what you just said above, one of the safest wallet newbies could store their Bitcoin for maximum security are non custodial wallets such as "Electrum" and "BlueWallet", as you gives you the privilege to own the private key of your wallet. Whereas, another way to buy Bitcoin with fiat money is simply by using a Bitcoin A.T.M in places where such is available, because though Bitcoin A.T.Ms are not common in all the countries, it's also one of the reliable means of buying Bitcoin with fiat.

Yes, it's just a matter of promo offers, the fees, platform availability and payment option. There are many exchange accepting Google Pay for payment actually, this includes CEX.io, Crypto.com, Kraken and many more.

That won't be easy to do if the country has banned the use of crypto especially if they track your bank records or transactions.

If you don't know who has crypto in your place then it's not easy to do this but if you know someone who has crypto then it shouldn't be a problem to buy crypto using fiat face to face trade. To where I live, it's not easy to find who knows about crypto but I do know that there are people who knows about crypto and are using it so the first choice would be the easiest to find. Lucky for me since there's an exchange/wallet where I can cash in fiat and buy crypto like bitcoin although the crypto that I can buy is limited or there's not  a lot of crypto to choose from but they are planning to add more soon which is a good sign.

I would say I do agree with different wallets, but then again, this criminals are also good at what they are doing, so they can still trace if they zoom in a specific target.

What makes the case about those Israeli tourist is that the criminals knows that they have a equivalent of $700k in crypto and was robbed at gun point and it seems that those who carried it out are professionals.

And in P2P, there are still more dangerous, and again, as I have said, it's better to bring someone with you, even if you trade with old accounts. Because that person too can point you out to someone after the trade and then rob or followed you, just saying.

Wow, didn't even know about A.T.Ms with BTC ;D Don't have those here, unfortunately, but it sounds very convenient.

So cool to have that machines in our places since by that we can easily deal with bitcoin. But the reach is limited in this is available in few area so lucky for those individuals that they have this in their area.

Anyways but for people want to know where to buy bitcoin I guess it may vary in their places since there there are country where they are.

Since this is the option they can take for this question.

Remittance
local wallets which is regulated by central banks or authorities since there's buy bitcoin feature using fiat in this option.
Exchange
P2P

They can take these option and I guess its easy for all to deal with this merchants or platforms.

In past I have exchanged my btc to fiat through currency exchange section in this forum but check the reputation of the person before dealing. Recently I am using binance p2p for exchanging crypto to fiat.

This is good information. You can also use Google or apple pay. On some vex like Bitget It's zero fees plus a lil cash back..😎
https://i.ibb.co/hXd6CPS/IMG-20240821-WA0013.jpg (https://ibb.co/Jxp1Cf9)

P2P methods through centralized and decentralized exchanges can be a good way to start if you have less experience on these methods you have mentioned, but in centralized exchanges, the only disadvantage is your privacy that will be shared with the exchange you trying to use through KYC.
While you can use exchanges that do not support KYC (http://kycnot.me) to have easy access to p2p without doing kyc but don’t leave your Bitcoin with any exchange, make sure you send them out to your personal wallet.

I'm happy you learnt something new today, because inasmuch as the Bitcoin ecosystem is broad, there are certain new things we learn on a daily. So if you don't mind, I will love to ask which country do you reside? Because there is a website known as "coinatmradar.com" which happens to be the official mapping instrument to locating nearby Bitcoin ATM machines in whichever country you happen to find yourself, of which if you go about searching the name of your country on that website, you will be shown the total list of Bitcoin ATMs location in your country and where they are all located (i.e if only it has any).

https://www.talkimg.com/images/2024/08/27/9ZpN5.jpeg

At my place, there is one more method besides what people have explained above. You can buy any crypto by using peer to peer to someone personally by using the service of middlemen to avoid scams, but gotta be really extras careful in choosing the middlemen to avoid another  form of scam. There several people on facebook and some people who are provided by some famous telegram group. They make a living by being a middlemen and maintaining a good reputation is very important,

But why will you leave your funds in a centralized exchange in the first place? You ain't supposed to keep your funds in cex. Cex is just a place for trading and once you are done with your trading activities, you are expected to move your assets to your cold wallet. You will only have problem with cex if you go against their policies or violate the P2P terms and conditions. Even if you must leave part of your funds in cex, it should just be a few bucks which you will be using to cover your trading fees whenever you are carrying out a transaction. leaving large funds in exchanges is exposing yourself to several risks. So I think what you call weakness can be avoided, by not leaving your funds in cex.

To buy Bitcoin as a beginner will be better through peer to peer transactions where you can just get the Bitcoin through any p2p platform be it centralized exchanges or decentralized exchanges. As a newbie if you have already learned about almost all the basic protocols and knowledge about Bitcoin, Bitcoin transactions, addresses, and how to protect your private key, you can just buy with any p2p platform. Centralized exchanges are better with this because I used one to purchase my Bitcoin but I don’t leave the Bitcoin in there, I do send it out immediately to my wallet for safety.
I don’t trust centralized exchanges with my Bitcoin, but I use them whenever I wanted fiat and when I wanted to trade, my asset’s safety is impotant, and I can’t held anyone responsible of any exchange get hacked or scammed.

Our Government is working tirelessly to see that everything crypto stops to work in the country (if i am not mistaken i believe you are from Nigeria). Any bank account found out transacting crypto are blocked so the only way to buy and sell bitcoin is through P2p trading and they still went to collaborate with some of the top and most used exchanges to delist Naira P2P trade just to prevent people from buying bitcoin.

Nigerians don’t have much options to buy bitcoin anymore and if the p2p trade should be fully shut down in all Centralized exchanges then we will be left with no option.

Nah, you should never think that there are no options my friend. I tell you that there are more than a thousand and one options that we have out there should the government if it is possible somehow shutdown p2p on exchanges. Like they say, necessity is the mother of invention. Mind you, this forum is one of the options where p2p can be done without any government interference.