Noob here. Trying to figure out my first transaction.
Let's say I want to move $1k from my bank account into bitcoin. How do I go about making this happen?
Make sure that your device is not having malware, you can read
how to secure crypto wallets. The safest walllet you can use are cold wallets, the easiest to handle and make transaction easily are hardware wallets.
You can buy Bitcoin even on this forum, but you will have to be careful of scammers, some people will only want to scam you, that is why I will advice you to make use of escrow, this is a list of
reputed escrow service providers on this forum. Just go to
currency exchange, open a thread for the request, if anyone accept the offer, dialogue with one of the escrow service providers, if all favour what you need, then you can make the deal but following reputed escrow provider guidance.
You can also make use of centralized exchanges, if your country support Binance, you can use Binance, or you can check Coinbase also, very possible you will be able to make use of credit card or P2P especially on Binance and also depending on your country. But you will have no option than to give the exchange some of your personal information like name, address and ID card. This means that privacy can not be possible while making use of custodial exchanges.
You can also make use of decentralized exchanges which can still protect your privacy, but it may not be suitable for beginners, but it is the best way to easily transfer the Bitcoin to your Electrum wallet for privacy reasons, mining and service fee will be charged, but the cost of sending bitcoin from custodial exchanges to another address is costly than normal, this will make me to prefer to use noncustododial means if you can just spend your time on how to make use of decentralized exchanges.
https://hodlhodl.com/ or
https://bisq.network/ are one of the best decentralized exchanges.
