Max Korpusov

Different Ways to Buy Bitcoin: Full Comparison

Bitcoin (BTC) is the first and the most popular digital currency which operates free of any central authority.
As this cryptocurrency has become a powerful part of the financial system it is important to know the most popular and safe ways to buy Bitcoin.
This article is a comprehensive guide on the different ways to buy Bitcoin with their pros and cons. Let's start!


A cryptocurrency exchange is a platform where users can buy digital currency for fiat or other cryptocurrencies. Exchanges are perfect for traders, as they offer a wide variety of options, such as low trading fees, and good liquidity.
However, they require users to provide identifying information, such as a passport or driver's license, as per KYC and AML compliance regulations. Additionally, exchanges are susceptible to hacking and have custody risk since users can leave their digital assets there.
The most popular exchanges are Binance, Coinbase, Kraken.

OTC Trading Desks

Over-the-counter trading desks are used for buying or selling large amounts of cryptocurrencies, usually over $100,000. This trading method provides immediate liquidity, reduced execution costs, and better privacy for high-net-worth individuals.
If you are looking for a trustful OTC trading platform take a look at FinchPay, where you can exchange 20+ cryptocurrencies with no KYC up to 500 EUR.

Crypto Wallets

Cryptocurrency wallet is the safest way to store your digital assets. There are different types of crypto wallets and it becomes challenging to choose the most suitable. Today many wallets provide such features as Buy/Sell option and built-in exchange. However, wallets are susceptible to hacking.
If you are looking for a crypto wallet, try Exodus, Metamask or Arctic Wallet.

Cryptocurrency Brokers

Cryptocurrency brokers are similar to trading platforms, but they offer a more beginner-friendly approach to purchasing digital currency. The platforms are easy to use and provide user-friendly apps, with some offering educational resources on how to trade cryptocurrencies. With brokers, there is a custodial risk since cryptocurrency wallets are managed by the broker. In addition, they may not always allow withdrawals.

Peer-to-Peer Trading Platforms

Peer-to-peer trading platforms allow users to buy and sell cryptocurrencies without going through an intermediary. This process is faster, cheaper, and private, with little to no identifying information. However, sellers may tag high premium prices on their bitcoins, making it more expensive than other platforms, given the high level of risk P2P poses.

Risks Involved in Buying Bitcoin

Acquiring Bitcoin will always include some level of risk. Some of the risks involved in investing in digital currency include counterparty risks, fraud, hacking incidents, and insolvency. Cybercriminals are constantly on the lookout for major hacking opportunities in the crypto industry.
If you want to protect your Bitcoin and other cryptocurrencies, use these tips:
Security Tips For Your Crypto Wallet
Source: CryptoPotato

How to Stay Safe When Buying Bitcoin

Investors are highly recommended to practice caution during large trades.
  • They should use a cold storage or a non-custodial crypto wallet for storing their Bitcoin assets in case of the exchange's insolvency.
  • It is highly advised to verify the authenticity of emails and links before clicking on them.
  • Awareness and enhanced knowledge can decrease the likelihood of accidents leading to catastrophic financial losses.
Investing in Bitcoin can bring considerable long-term profits, but it is vital to understand the risks involved before investing.
This article should have provided you with comprehensive knowledge of the different methods of purchasing Bitcoin, along with the risks involved and how to stay safe. By being aware of the risks and taking necessary precautions, everyone can safely enter the world of cryptocurrency. Do your research appropriately and be confident in your decisions. Happy investing!

Onboarding with


Our onboarding team will assist you with every step of the onboarding process


Eišiškių Sodų 18-oji g.11, Vilnius, Lithuania, 02194
+372 5664 8668
Meet your manager