Most Secure way to buy and use Bitcoin

[Martino8]

Crypto Noob here,
I'm not interested in Bitcoin as an investment, but would like to use it for electronic transactions from time to time

I already understand the basic process:
1. Set up an account on a Bitcoin exchange
2. Purchase bitcoin
3. Carefully send it to a receiver
4. Or move it to a Wallet for safekeeping

My question is regarding #2.
Are some of the purchasing options less secure than others regarding hackers stealing Bitcoin or worse yet stealing your identity.
Please rate the Pros and Cons of the following purchasing options (from a security standpoint)
A. Credit Card
B. Venmo
C. Electronic Bank Transfer (this one seems insane to me)

[retaur]

What country you're in might change which is the most secure.

Stage 3 and stage 4 are often more vulnerable too unless you're using a hardware wallet or an airgapped one. If you don't know what you're doing, I'd recommend starting small just in case, keep antivirus up to date and make backups of your wallet/write down the nmemonic somewhere safe.

The three methods mentioned are all quite secure. The difference is fees. Bank transfers are usually the cheapest, credit cards will be the most expensive and Venmo (if you can use it) will be somewhere between them.

If you're in a country with decent bank security they might ask you to verify the payment by either phoning you or sending you a one-time code.

What exchange do you have in mind too? Some are better than others security wise but all the major international ones seem pretty good.

Also be sure to check your bank doesn't disallow sending or recieving payments to and from cryptocurrency exchanges (as some do).

[Tamedbeast]

Now hold on, wait a minute.

Don't wait till you have a receiver to send the bitcoin off the exchange, either it is for short term keeping or long term it is better to move that bitcoin into your bitcoin wallet first, get them out of exchange, because something bad might happen to that exchange and your bitcoin might never be retrieved, your first lesson. Never leave your bitcoin on any centralsed exchange.

Moreover, bitcoin is good for spending using wallet to wallet, moving your bitcoin to your wallet should be first priority.


Now are you clean? I mean crime free? If yes then all the service names you mentioned are not bad, you can use your credit card to buy bitcoin if you want or any other, it is a ,matter of choice, electronic bank transfer is what many people use to buy bitcoin in my country, for safety reasons like avoiding bank awareness that they purchased bitcoin is why they use P2P (peer to peer) transaction because it won't reveal what the money is intended for.

Do your own research on p2p and it is available on binance, bybit and few others.

[Smartvirus]

Crypto Noob here,
I'm not interested in Bitcoin as an investment, but would like to use it for electronic transactions from time to time

Not interested in Bitcoin for an investment, good for you, at least you are still going to operate within the scope of Satoshi Nakamoto’s desires for the innovation.

I already understand the basic process:
1. Set up an account on a Bitcoin exchange

4. Or move it to a Wallet for safekeeping

1 only serves a good purpose when you don’t really end it at one but, use option 4 after each buy. The one way to truly save your Bitcoin is in a wallet and you would find transferring from wallets to be far less expensive than exchanges which, you really don’t get to determine the fee rate.

My question is regarding #2.
Are some of the purchasing options less secure than others regarding hackers stealing Bitcoin or worse yet stealing your identity.
Please rate the Pros and Cons of the following purchasing options (from a security standpoint)
A. Credit Card
B. Venmo
C. Electronic Bank Transfer (this one seems insane to me)

All are relatively safe but, while buying with the help of an exchange, your best and safe means remains having to use bank transfer. You really don’t get to give out any credit card details or much personal information and the exchange stands as an escrow on the transaction.

[Merit.s]

     ~snip~

Best is to buy bitcoin via p2p from the exchange, whereby the seller sells bitcoin to you and you pay with bank transfer. This was how Satoshi designed bitcoin to be used.

You can also buy directly from a trusted friend/relative through p2p, he will transfer the bitcoin to your noncustodial wallet while you pay him in cash or via bank transfer.

Don't keep your bitcoin in an exchange because the cost of sending it to whomever you want to send it to will be expensive than sending it directly from your noncustodial wallet. The exchange will be in charge of your bitcoin when you keep it in the exchange because you have given them custody over it which is not the right way to store your bitcoin. Not your keys... Not your coins

[PostQuantumBTC]

     ~snip~

Best is to buy bitcoin via p2p from the exchange, whereby the seller sells bitcoin to you and you pay with bank transfer. This was how Satoshi designed bitcoin to be used.

You can also buy directly from a trusted friend/relative through p2p, he will transfer the bitcoin to your noncustodial wallet while you pay him in cash or via bank transfer.

Don't keep your bitcoin in an exchange because the cost of sending it to whomever you want to send it to will be expensive than sending it directly from your noncustodial wallet. The exchange will be in charge of your bitcoin when you keep it in the exchange because you have given them custody over it which is not the right way to store your bitcoin. Not your keys... Not your coins

P2P of nowadays are on centralized exchanges where people submit KYC. This is what many people are doing today but the best are decentralized P2P like Bisq.network.

[suzanne5223]

Based on this thread topic. The most secure way to buy Bitcoin is by using the Bitcoin decentralized exchange Bisq, and you can also buy BTC p2p from a reputable member on this forum, but the secure way of using BTC depends on your knowledge about how to use BTC safely, and how you avoid human error that would make you a target of a hacker.
You cant use credit, Venmo, and bank transfer to buy BTC and still consider it be secure means of buying BTC when some people can easily get your private information just through your name or email address.

[CryptoHeadlineNews]

Crypto Noob here,
I'm not interested in Bitcoin as an investment, but would like to use it for electronic transactions from time to time

I already understand the basic process:
1. Set up an account on a Bitcoin exchange
2. Purchase bitcoin
3. Carefully send it to a receiver
4. Or move it to a Wallet for safekeeping

My question is regarding #2.
Are some of the purchasing options less secure than others regarding hackers stealing Bitcoin or worse yet stealing your identity.
Please rate the Pros and Cons of the following purchasing options (from a security standpoint)
A. Credit Card
B. Venmo
C. Electronic Bank Transfer (this one seems insane to me)

Both the use of Credit Card and the use of bank transfer, always in one way or the other reveal your true identity to the third party from whom you want to buy Bitcoin from. And it's very certain for you to buy Bitcoin, you actually need to make use of any of these methods for a successful transaction. But in most cases, I usually used the direct bank transfer from a p2p trade, since it can be synonymous to any other transactions initiated. Unlike that of a credit card that will be linked to a crypto gateway, which actually proof the transactions might have been related to crypto.

[yixichloro2xx]

Another option to buy Bitcoin is through the p2p method offered by the exchange which is either you buy  Bitcoin directly  from the seller with cash or the seller sells  you dollar which you will able to buy bitcon by your self in the exchange ( depending on your country). Either way, like I wrote it is depending on the country (due to some regulations) you're from  but mine we use either of this  two methods.

[rat03gopoh]

but would like to use it for electronic transactions from time to time

Bitcoin is essentially a natural electronic transaction if you use it on-chain. Therefore, the first step in the basic process is somewhat contradictory; it doesn't differentiate Bitcoin transactions from conventional banking.

There are several trusted users on this board^[*] offering Bitcoin with common payment methods; it depends on the service you choose. Be careful; it's best to verify here who you want to transact with.


[*] https://bitcointalk.org/index.php?board=53.0

[Mironte]

     ~snip~

You can also buy directly from a trusted friend/relative through p2p, he will transfer the bitcoin to your noncustodial wallet while you pay him in cash or via bank transfer.

Agree with you sir. In 2 years, I have minim budget to buy btc and yeah like you say bought from friends. But, now have a country that prohibit p2p. And still need KYC. Right again same with you, Iam never store my assets in exchange and still choose my wallet.

[dkbit98]

Are some of the purchasing options less secure than others regarding hackers stealing Bitcoin or worse yet stealing your identity.

Most secure way for purchasing bitcoin is if you are using something like Bisq exchange-wallet, Peach Bitcoin or Robosats.
You won't reveal your identity to anyone, and you can even spend cash to purchase your Bitcoin in person.
I never used credit card or any of the options to buy BTC because I prefer p2p trading.

[Baki202]

Another option to buy Bitcoin is through the p2p method offered by the exchange which is either you buy  Bitcoin directly  from the seller with cash or the seller sells  you dollar which you will able to buy bitcon by your self in the exchange ( depending on your country). Either way, like I wrote it is depending on the country (due to some regulations) you're from  but mine we use either of this  two methods.

And that's like the easiest way to buy to buy bitcoin there is no much stress about it because there is a lot of vendors on an exchange after p2p because p2p is just for you to be able to swap from your local currency to usdt which is paired together with Bitcoin and all this are very simple task just that if you are buying it is good to make use of a reliable exchange. And that's like for our country that it's only p2p option that is available since you can not buy directly.

I love how technology is improving and don't be surprised to see exchanged coming with other means so buy because the innovation keeps getting better and that is one good thing about tech. And the aspect of usage I feel like after buying then the next thing is to send to a wallet were it will be mostly secured over there at least better than leaving everything in an exchange. Because security after buying matters a lot is not something we should take for granted.

[yixichloro2xx]

Another option to buy Bitcoin is through the p2p method offered by the exchange which is either you buy  Bitcoin directly  from the seller with cash or the seller sells  you dollar which you will able to buy bitcon by your self in the exchange ( depending on your country). Either way, like I wrote it is depending on the country (due to some regulations) you're from  but mine we use either of this  two methods.

And that's like the easiest way to buy to buy bitcoin there is no much stress about it because there is a lot of vendors on an exchange after p2p because p2p is just for you to be able to swap from your local currency to usdt which is paired together with Bitcoin and all this are very simple task just that if you are buying it is good to make use of a reliable exchange. And that's like for our country that it's only p2p option that is available since you can not buy directly.

I love how technology is improving and don't be surprised to see exchanged coming with other means so buy because the innovation keeps getting better and that is one good thing about tech. And the aspect of usage I feel like after buying then the next thing is to send to a wallet were it will be mostly secured over there at least better than leaving everything in an exchange. Because security after buying matters a lot is not something we should take for granted.

Yes  the p2p method is easy but you shouldn't forget the risk of scam that comes along with it, you must be very careful with the type of people you are doing transaction with.

[Pablo-wood]

P2P of nowadays are on centralized exchanges where people submit KYC. This is what many people are doing today but the best are decentralized P2P like Bisq.network.

It is unfortunate that CEXs have dominated the P2P market. I don’t know if it is for the sake of convenience or simply because users feel more secure dealing with platforms that have established reputations. The ugly side of most CEXs is revealed in how they drift from the original purpose of P2P, thereby exposing users to various risks and potentially restricting withdrawals on their own terms,  not everyone is ready for this truth.

[tech30338]

P2P of nowadays are on centralized exchanges where people submit KYC. This is what many people are doing today but the best are decentralized P2P like Bisq.network.

It is unfortunate that CEXs have dominated the P2P market. I don’t know if it is for the sake of convenience or simply because users feel more secure dealing with platforms that have established reputations. The ugly side of most CEXs is revealed in how they drift from the original purpose of P2P, thereby exposing users to various risks and potentially restricting withdrawals on their own terms,  not everyone is ready for this truth.

but it save you less hassle, also being secured that you don't have to worry of someone will scammed you during the process, although there are some instances that reports someone scam them, i would saying using p2p of CEX is safer when thinking of being scammed, you will be limited if you don't have the credentials the authenticator and access to your email when withdrawing, that's also help make your transaction secured when dealing with p2p from CEX, P2P is great without CEX but majority of people who you don't know will definitely scammed you, when doing transaction directly.

[UchihaSarada]

It is unfortunate that CEXs have dominated the P2P market. I don’t know if it is for the sake of convenience or simply because users feel more secure dealing with platforms that have established reputations. The ugly side of most CEXs is revealed in how they drift from the original purpose of P2P, thereby exposing users to various risks and potentially restricting withdrawals on their own terms,  not everyone is ready for this truth.

P2P market places from centralized exchanges are so fake as their founders are known publicly and governments know those founders. In addition, these P2P marketplaces ask KYC on users before using their platform from CEX to P2P.

The bottom line of P2P is privacy mostly and with such CEX-built P2P marketplaces, you won't have KYC.

There are alternative non KYC P2P market places but the disadvantage is lower trading volume.
https://kycnot.me/?categories=exchange&currency-mode=or&currencies=btc&attribute-mode=or&attr-84=yes

[Webutxo]

P2P of nowadays are on centralized exchanges where people submit KYC. This is what many people are doing today but the best are decentralized P2P like Bisq.network.

Dex are difficult and not as easy as centralized exchanges, you may have to look for buyers all the time with unpleasant rates on dex than if you want to sell on a centralized exchanges. You have to also wait for long period of time on dex for your trades to be finalize while centralized exchanges makes it 30 minutes at most and some less in other centralized exchanges, everything be done quickly, the disadvantage is the KYC they made mandatory for people.

[boyptc]

My question is regarding #2.
Are some of the purchasing options less secure than others regarding hackers stealing Bitcoin or worse yet stealing your identity.
Please rate the Pros and Cons of the following purchasing options (from a security standpoint)
A. Credit Card
B. Venmo
C. Electronic Bank Transfer (this one seems insane to me)

Remember this, you're only not safe if you're doing the purchase from unknown websites. So, if you're not familiar with the platform where you'll purchase your bitcoin, you have to conduct your research.

And this is the reason why the most advises to buy only on known exchanges or platforms.

Also, avoid clicking unknown links and that will keep you safe from any of the stealing and hacks. Because that's where it all starts, a simple clicking of link that redirects you the landing page of the scammers/hackers.

[Judith87403]

Crypto Noob here,
I'm not interested in Bitcoin as an investment, but would like to use it for electronic transactions from time to time

This is a little bit complicating, you're not interested in bitcoin yet you want to use it for electronic transaction why not use other coin to make your electronic transaction instead of using bitcoin? Then we can obviously say that you're not interested as you said, as long as you're still making use of bitcoin be it electronic transaction or not you're interested in it. You can't keep using something that you're not interested in and still claims that you're not interested to it, I'm sorry to say that you're confusing yourself.

I already understand the basic process:
1. Set up an account on a Bitcoin exchange
2. Purchase bitcoin
3. Carefully send it to a receiver
4. Or move it to a Wallet for safekeeping

My question is regarding #2.
Are some of the purchasing options less secure than others regarding hackers stealing Bitcoin or worse yet stealing your identity.
Please rate the Pros and Cons of the following purchasing options (from a security standpoint)
A. Credit Card
B. Venmo
C. Electronic Bank Transfer (this one seems insane to me)

Can't remember making bitcoin purchase via credit card, venom, but I have been making use of P2P to make my purchase which can be seen as electronic bank transfer. This process look more easier for me than the rest of the method, i know this method can be very risky compared to other method but I just prefer using this method since is the one I'm familiar with.