how to buy and to store bitcoin

[img]

Hi,

I want to buy 1 BTC, but I'm too stupid (I assume) to understand how it works, although I read some topics before mine.

Could I receive some advice regarding:

1. How to buy directly, not to be on a trading website.
2. How to store it.

I would like to buy and to store it simultaneous on a Mobile Wallet (a phone that I am not using), Paper Wallet and on a Hardware Wallet, if it is possible.

Which is the best combination (the price it doesn't matter).

PS. I live in Switzerland. In case it might help.

Thank you very much.





 

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[JeromeTash]

The process of buying or selling Bitcoin is called trading/exchanging, so you can't buy Bitcoin minus trading  
Most newbies use service like coinbase or Blockchain wallet to buy bitcoins if they don't want to use the traditional exchanges but note that
- Coinbase or blockchain are custodial. They will ask for KYC and can block your funds/account at any time, so you don't have full control of your fund so longs as they are still in the accounts of the platforms
- The rates maybe a little higher than the normal market rates

Noncustodial mobile wallets like Mycelium offer an option to buy Bitcoins through their wallet, but they still use a third party service.

[Charles-Tim]

To buy bitcoin, you can make use of Currency exchange on this forum, but make sure you are careful of scammers and make use of reputed user for escrow service (member with positive trust and that have escrowed many times before). But, you can make use of no-kyc exchanges like https://hodlhodl.com/, https://localcryptos.com/ or https://bisq.network/.

In order to hold your bitcoin safe after you bought it, you can make use of paper wallet, this can be generated from bitaddress.org or make use of hardware wallet, you can use your hardware wallet on your phone, but it is either you use ledger nano x that support bluetooth you can use to connect to ledger live on phone, or buy phone USB code for other hardware wallet like trezor and ledger nano s to connect. But, it will be good if you can manage your hardware on computer using electrum wallet. Mobile phones can install malware anytime because if its everyday use, operating hardware wallet on a computers is safer and the recommended way, but if you insist, you should be careful of sites that can result to malware installation on your mobile phone, use antimalware and avoid malware in all ways.

[hatshepsut93]

Even if you're not using your phone, it's still a bad idea to use it as a wallet for coins that are meant for long-term storage rather than daily spending. A phone is a device that can always be connected to networks, it runs on some proprietary software, unless you have rooted it and installed an alternative OS, it could have some malware or backdoors. Having a hardware wallet and multiple backups of your private keys or seed stored in different places is more than enough, just make sure that the wallet was generated offline and never touched an environment that is connected to the Internet.

[BitMaxz]

It seems that there are many Bitcoin ATMs in your country why not directly buy BTC on those Bitcoin ATMs.

You can use this tool https://coinatmradar.com/ and check maybe there is one Bitcoin ATM near your current location.

Now before you buy directly from Bitcoin ATMs make sure that you already have a wallet on your phone I suggest you install Electrum for mobile, you can download them directly from the Playstore or here https://electrum.org/#download

Then follow this "How To Use A Bitcoin ATM – A Beginner’s Guide"

[GreekCoiner]

Sir, I can see that you are very newbie in "Bitcoin" so I would suggest you to first spend some time reading any book about Bitcoin and also make some tests in the "testnet". Watch some videos, make some tests and then find a good wallet.
Its important to first understand what it is before you buy to avoid any mistake which may lead to coins loss.

[mersal]

1. How to buy directly, not to be on a trading website.
2. How to store it.

If you don't want to use any centralized trading website then you have decentralized p2p trading platforms which can be helpful to buy bitcoin from someone directly via bank transaction or other means of payment where you no need to worry about escrowing funds.

Or you can use Currency exchange to buy bitcoins anonymously from fellow forum members but don't forget to escrow the funds since the amount you are looking to buy is not small with the current market price


To store bitcoins on your mobile I suggest you to download electrum from https://electrum.org/#download and note down the private keys.

[qwertyup23]

<snip...>

I would personally recommend purchasing BTC if your country offers a local exchange that also provides a local wallet simultaneously. There are lots of hardware wallet being sold online which I do also recommend.

In addition, there are various online exchanges (if a local exchange is unavailable in your country) that are trusted and have been used by people ever since. You can purchase BTC there without any fear of being scammed online.

[Rowenta]

Hi,

I want to buy 1 BTC, but I'm too stupid (I assume) to understand how it works, although I read some topics before mine.

Could I receive some advice regarding:

1. How to buy directly, not to be on a trading website.
2. How to store it.

I would like to buy and to store it simultaneous on a Mobile Wallet (a phone that I am not using), Paper Wallet and on a Hardware Wallet, if it is possible.

Which is the best combination (the price it doesn't matter).

PS. I live in Switzerland. In case it might help.

Thank you very much.





 

You can get a hardware wallet since it's not that costly, and moreover I believe you can afford one if you can buy 1 btc, I don't know if you like KYC or not, if there is no reason to hide your identity it's safest to buy on binance exchange with your mastercard or bank directly, don't worry your country is well supported, you will be asked to complete the KYC verifications which will only take minutes, wait for the verifications to complete and buy bitcoin

[Rikafip]

As other suggested, if you want to buy  BTC without getting involved with exchanges, ATM is one of the easiest ways. I just wanna warn you that buying BTC that way is usually more expensive since generally ATMs have high fees (I've used them in several countries and fees was over 5%). From what I can see on coinatmradar.com, all ATM providers in Switzerland have a daily cap on how much one person can buy/sell (1,000-5,000 Euro) meaning there is some sort of verification needed, which kinda sucks as you are already paying high fee so one would expect to have less restrictions and without verification.

Before immediately buying 1 BTC, I would advise you to buy some smaller amount first to get yourself familiar with it, make a few transactions from wallet to wallet just to avoid any fatal mistakes as once you send bitcoin to an address that you don't have access to, it's gone forever.

[Gunday_07]

Hi,

I want to buy 1 BTC, but I'm too stupid (I assume) to understand how it works, although I read some topics before mine.

Could I receive some advice regarding:

1. How to buy directly, not to be on a trading website.
2. How to store it.

I would like to buy and to store it simultaneous on a Mobile Wallet (a phone that I am not using), Paper Wallet and on a Hardware Wallet, if it is possible.

Which is the best combination (the price it doesn't matter).

PS. I live in Switzerland. In case it might help.

Thank you very much.





 

Since there are too many response about how to buy bitcoin I will drop points about wallets, hardware wallet is the best and it also depends and make more sense if you plan on holding the bitcoin for a long term, if this is what you are planning on doing then buy hardware wallet, they are the safest

[Peanutswar]

If you want to buy bitcoin you can try the coinbase[1] and the binance[2] well we are not courage storing a bitcoin to those exchange so I highly suggest installing electrum[3] wallet to your smartphone/PC I will drop those links so you wont bother if you think that's fake or not.

1. https://www.coinbase.com/
2. https://www.binance.com/en
3. https://electrum.org/#download

Also good to have a ledger too if you want.

Other than exchange you can buy with the use of P2P, still keep aware and safe making transaction with other people. Binance have p2p too.

[Eureka_07]

<snip>
1. How to buy directly, not to be on a trading website.
2. How to store it.
<snip>

If you don't want to buy on any exchange websites, you can buy them directly from the seller, I'm not sure, but there might be some peeps here in our forum who are doing bitcoin trades. You can also buy them on your local bitcoin ATMs, or if you know anyone who sells bitcoin, why ask them directly and try to start the trade.
Store them on a hardware wallet, 1 bitcoin is a large money in equivalence.

[Porfirii]

Before immediately buying 1 BTC, I would advise you to buy some smaller amount first to get yourself familiar with it, make a few transactions from wallet to wallet just to avoid any fatal mistakes as once you send bitcoin to an address that you don't have access to, it's gone forever.

I was going to suggest this too but Rikafip has (of course) already pointed it out. Don't all into the error of underestimating this advice, and not only when buying, but when sending also. A wrong address and you lose it; a virus that changes the address you just copied and pastes a different one and you lose it; not being careful when setting up the fees and you may lose it too (or a big part). It doesn't happen in a every day basis, but when it does, it can be devastating, moreover if you want to operate with 1BTC at these prices.

[UserU]

If you don't want to buy on any exchange websites, you can buy them directly from the seller, I'm not sure, but there might be some peeps here in our forum who are doing bitcoin trades. You can also buy them on your local bitcoin ATMs, or if you know anyone who sells bitcoin, why ask them directly and try to start the trade.
Store them on a hardware wallet, 1 bitcoin is a large money in equivalence.

I feel it's best for OP to buy elsewhere or at least from a high liquidity exchange before purchasing from here (if he ever does). It's gonna involve lots of filtering and middleman unless someone's willing enough to actually deal patiently.

[Novatech8]

Hi @img, I just want to warn you to stay away from that idea of buying bitcoin or other coins directly, you can only buy bitcoin from a platform, either Centralized or decentralized it still going to take place on a platform, do not by any chance buy coins from people directly, there are many dangers awaiting such people who engage in such practice

[pawanjain]

It's good that you decided to ask first rather than ending up throwing your money in some scam website.
You have many options to buy bitcoin and store it in a wallet. You can opt to buy bitcoin from any of the following methods

To buy bitcoin

• P2P platforms

Such as localbitcoins where you can buy bitcoin directly from a seller. You will have to be cautious here as there are some scammers as well.
Try to look for genuine sellers with good reputation and positive feedbacks if you opt for this option.

• Exchange

Such as Coinbase, bitstamp etc... where you will have to undergo KYC verification process to signup and then buy bitcoin.
Once you are done with KYC it will be convenient for you to buy/sell bitcoin at any point of time.

• Bitcoin ATMs

You can find a bitcoin ATM locator for your country and find bitcoin ATMs nearby you and go there to buy your bitcoin.
There are private bitcoin ATMs as well where you won't have to register with them to buy bitcoin.
I found one bitcoin ATM locator, try your luck if you get an ATM nearby your location

https://www.buybitcoinworldwide.com/bitcoin-atms/

To store bitcoin

To store your bitcoin on your phone you can download non-custodial wallets like Electrum, Exodus, Mycelium etc...
To get a paper wallet you can create it easily here : https://bitcoinpaperwallet.com/
If you want to buy a hardware wallet you can go for Trezor harware wallet


Source : https://www.buybitcoinworldwide.com/switzerland/

[sheenshane]

If you don't want to buy on any exchange websites, you can buy them directly from the seller, I'm not sure, but there might be some peeps here in our forum who are doing bitcoin trades. You can also buy them on your local bitcoin ATMs, or if you know anyone who sells bitcoin, why ask them directly and try to start the trade.
Store them on a hardware wallet, 1 bitcoin is a large money in equivalence.

I feel it's best for OP to buy elsewhere or at least from a high liquidity exchange before purchasing from here (if he ever does). It's gonna involve lots of filtering and middleman unless someone's willing enough to actually deal patiently.

Person to person online should use a third party or a trusted middleman.  This means to ensure for both parties are safe on their fund held by the middleman but make sure it is trusted enough.  Alternatively, I tend to agree to use a most trusted exchange platform, if you can't buy directly to the exchange, they had also a P2P transaction and the platform itself act as a middleman, AFAIK, that was a Binance platform.

Regarding storing your Bitcoin, this is very techy, you should understand first before decide to hold Bitcoin.
Always use an open-source wallet or even a hardware wallet, remember this common line always.  "Not your keys, Not your Bitcoin".

Looking for Hardware wallets?  This might help you, a [BIG LIST] Hardware wallets (80+)

[The Cryptovator]

Welcome to the community. Seems it's your first post and good to see a newbie interested in bitcoin. For a good bitcoin experience, I will suggest learning more as much you can at least a few basic technical issues. I think you have got enough information about buying and store bitcoin from the above posts. I am assuming you can afford to buy a hardware wallet since you are wondering accumulate 1 BTC. There are many scammers in the crypto world, so you have to use your common sense when you are dealing with cryptocurrency. Just keep always your mind, you are holding the seed or private keys of your wallet means you are the owner of the bitcoin that belongs to the same wallet. I will discourage using any web wallet to store your bitcoin including exchange.

Best of luck.

[ShowOff]

It looks like the OP has gotten quite a bit of advice and input on how he should buy his first bitcoin. There are lots of people welcoming him and directing him and this is great for beginners who are really interested in bitcoin. By the way, welcome to the bitcoin community forum.

If you are interested in bitcoin, you should also know a lot more about how to get started right and how you can secure it. Buying bitcoin or investing in bitcoin is inherently a risky activity, so be aware of this risk before you buy it for the first time. Take the time to read the following two resource.

1. https://bitcoin.org/en/getting-started
2. https://howtobuybitcoin.io/