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Buying Bitcoin is still a mystery for many people. Many are unsure whether it is legal to buy Bitcoins anonymously. For others, it is not clear what steps need to be taken in order to successfully purchase the cryptocurrency Bitcoin.
However, even if an exchange is found and a wallet is opened, further problems or ambiguities can make it difficult to buy Bitcoin – especially in Germany. There are many questions that want to be clarified before the first contact with the new currency takes place.
This guide should help you to buy Bitcoins even without the darknet. Here you will learn how and where you can buy Bitcoins and which payment methods are possible. In addition, you will find an answer to the question: What can you buy with Bitcoins?
How to buy bitcoins?
Crypto exchanges are the place where you can buy bitcoins. To buy bitcoin, basic equipment is needed. First, an internet-enabled device is needed. This does not necessarily have to be the home PC. Meanwhile, smartphones and tablets are also capable of being the wallet and thus the wallet when you buy Bitcoin. The Bitcoin wallet is the heart of all transactions, whether you want to buy or spend Bitcoin.
But how can I buy bitcoins?
To buy Bitcoin, you first need to choose one of the many Bitcoin exchanges. These have different offers and discounts that can be worth comparing. This leads to the next step and the next question on the way to buy Bitcoins. Not just how, but where do I buy bitcoins?
The question of where you buy Bitcoins is a matter of trust and convenience. Many providers differ in the conditions that are available to choose from. Not only discounts but also payment conditions are different.
Buy Bitcoin quickly and anonymously
To definitively answer the question Where can I buy Bitcoins?, we briefly introduce some providers below.
Bitcoin.com
Anonymswap.com
Coinbase
Cex.io
Bitstamp
The providers, which are often not located in the EU, have so far built a reputation that distinguishes them as reliable partners for buying Bitcoin. There, buying bitcoin with a credit card is always possible. A credit card is a safe option for the seller, ultimately not to fall for fraud attempts.
To buy Bitcoin by direct debit, is not possible. The quick cancellation of the direct debit increases the risk for the seller, who has difficulty collecting the money due to the anonymity of the Bitcoin purchase.
Buying a Bitcoin miner may turn out to be uneconomical. But other payment options are common. For example, buying Bitcoins via Sofortüberweisung, PaySafe or other settlement services is often possible, as a third-party provider handles the payment processing here. But how can you buy Bitcoins without having to provide verification?
Buying Bitcoins without registering is also not possible. To make the transaction possible, various data, such as the recipient’s public key, are required. Thus, the registration with the corresponding wallet is inevitable.
Even if no plain name is used in the process, absolute anonymity is not given. When you buy Bitcoin, it is a so-called pseudonymity, since the user appears with his public key. You also make yourself identifiable to the exchange or financial service provider when they debit the payment from your bank.
Buy and pay Bitcoin in cash
Away from the exchanges, it is also possible for users to buy Bitcoin from each other or give them to each other as gifts. To do this, the corresponding amount only needs to be instructed. The transaction is completed as soon as the data has been entered into the blockchain. Thus, it is theoretically also possible to buy Bitcoin in cash if you paid the giver for it with cash.
But once again, the question arises as to what should be paid for with Bitcoin or what can be paid for at all. Buying things with Bitcoin is not yet very common in Germany. Only businesses and organizations that are very tech-savvy offer to buy goods and services with Bitcoin. From coffee to internet services, you can buy almost anything with Bitcoin.
Buying an effective Bitcoin miner means buying a computing farm. As the power required to successfully participate in the mining process continues to increase, it is no longer viable for individuals.
When buying Bitcoin, make sure that it is a relevant asset if someone demands insight into your finances.
Conclusion about: Buy Bitcoins
- Buying Bitcoins is not difficult.
- What is necessary is a Bitcoin wallet and Internet access.
- Make sure that buying Bitcoins is only as secure as the provider you use.