In order to buy bitcoins safely, it is necessary to fully understand all the specificities of this new financial experience.
Indeed, depending on the amount of your purchase, the desired speed, or your projected investment horizon, you will choose one method of purchase over another.
First of all, how can we define Bitcoin?
Bitcoin is a new monetary system, independent of banking networks, which grants full freedom to its users. Bitcoin operates with a protocol that enables participants to issue bitcoins and manage transactions collectively and automatically via the Internet.
It is important to know that thousands of companies offer individuals various solutions to buy bitcoins. Therefore, navigating and making the right choices within this vast area is not easy. Using an exchange platform seems to be the most suitable solution, although it may not be the most intuitive for a beginner.
In this case, it would be preferable to turn to online sales sites that allow you to quickly buy a few hundred euros worth of bitcoins using your bank card.
Buying bitcoins on an exchange platform:
Exchange platforms are infrastructures that connect buyers and sellers of bitcoins. The participants choose the prices at which they are willing to buy or sell a certain amount of bitcoins, and the platform’s role is to consolidate everything in an order book. When there’s a match between a buy order and a sell order, the platform initiates the exchange.
The price of bitcoin changes according to the law of supply and demand. The only downside of this method is that until you withdraw your bitcoins from the exchange platform, you do not actually own them.
Buying bitcoins via an online sales site:
As mentioned earlier, the fastest way to obtain bitcoins is through purchasing them via an online sales site. Using this method, you can acquire your bitcoins within minutes after paying in the most standard ways, such as by bank card.
Online sales sites handle the purchase of bitcoins on exchange platforms and ensure delivery to the address you have specified. Each Bitcoin address you use is linked to your identity. Hence, you will need a valid identification document. Some services might also require additional proofs, such as a photo of yourself.
Other ways to acquire bitcoins:
Lastly, there are other ways to acquire bitcoins. For instance, through physical exchange counters that allow you to make exchanges directly hand-to-hand. Or thanks to bitcoin ATMs, which are available 24/7. However, they are very rare in France compared to the United States or Asia.
