With the persistence of Bitcoin both as an alternative currency and investment driver, more and more people now want to buy Bitcoin or other cryptocurrencies. Some want to find out what the hype is all about, some want to test Bitcoin as an investment tool, and some just don’t want to miss out on the cryptocurrency bandwagon. Whatever the reason might be, the technological aspect and the price of Bitcoin stand between such people and their desire to take the initiative.
They want to start small but don’t know how. First of all, you need to keep in mind that all the technological jargon and challenges don’t get in the way of buying Bitcoin unless you are considering to become a professional trader. Secondly, the price of Bitcoin isn’t that big a deal since you can buy it in fractions. The smallest unit of Bitcoin is called Satoshi and it is equivalent to 0.00000001 BTC. It means that you can buy really small denominations of the coin that are worth less than $50.
Where to Buy BTC – Pick Your Platform
If you are wondering how to buy small amounts of Bitcoin, then you need to break the purchasing process down into multiple steps, the first of which is picking your platform. There is a wide range of cryptocurrency exchanges and trading platforms where people can buy bitcoins. Some of the popular services include the following.
- Cryptocurrency Exchanges – These are the platforms that allow buyers to purchase bitcoins and other altcoins. You have to make an account, deposit your money, and then you can hold your bitcoins in that account.
- Trading Platforms – These services enable you to buy and sell bitcoins to earn profits on the basis of volatility. They’re more investment-oriented and offer trading features like charts, analyses, and expert opinions.
- Peer-to-Peer Exchanges – Cryptocurrency platforms that provide a way to connect buyers with sellers are known as peer to peer or P2P exchanges. You can purchase bitcoins directly from individual sellers.
How to Get Bitcoins Instantly – Benefits of P2P Crypto Exchanges
When it comes to buying bitcoin, people generally rely on reputed exchanges. However, P2P crypto platforms are now surging in popularity as the doubts and myths surrounding cryptocurrencies are now settling down and people have become more informed and educated. There is a multitude of benefits of buying bitcoins, especially if you are looking to purchase small amounts, from peer to peer cryptocurrency exchanges. Some of the major benefits include the following:
Buy On Your Own Terms
When you are on a third-party platform, they dictate all the policies regarding setting up your account, executing transactions, and service charges. This means that you have to abide by their terms to use their services. On the other hand, peer to peer exchanges simply connect you with individual sellers where you can set the terms of your own transaction. The control of the platform over the transactional matters is minimal.
Regular cryptocurrency exchanges usually offer you to buy bitcoins and other altcoins using popular fiat currencies such as USD and EUR. If you want to use any other fiat currency, you may need to pay more in terms of transaction fees. With P2P crypto exchanges, you have hundreds of sellers so you can pick the one that offers the right balance of price and reliability. Generally, the fees are already included in the seller’s escrow charges so you can buy a small amount of bitcoins for quite an affordable price.
Create Your Own Orders
As mentioned above, conventional exchanges set their own terms and conditions which you are required to comply with. It means that if you can’t buy bitcoin according to your own requirements, you are pretty much out of luck. Fortunately, that’s not the case with P2P exchanges as they give you the option to create your own ‘Buy Order’ if you don’t find a trade offer that suits your requirements.
Minimum Purchase Order
Since conventional cryptocurrency exchanges work with third parties, they have to maintain a relatively high limit of minimums to ensure they stay profitable for every transaction occurring on their platform. P2P exchanges aren’t bound by these limitations since they are simply providing a platform to connect buyers and sellers. It means you can usually buy bitcoin amounts that are as low in worth as $1, $10, and $25.
No Regulatory Oversight
Running a conventional cryptocurrency exchange means the service needs to adhere to a wide range of laws and regulations including Know Your Customer (KYC) as well as Anti Money Laundering (AML) regulations to run their business. This results in stricter user experience for traders since they have to provide identity verification. On P2P exchanges, there is no central authority that can force users to behave in a certain way.
How to Buy Bitcoin Fast – The Process
Once you are on the desired P2P cryptocurrency exchange such as NeuronEx, you can start the buying process right away. Here is what you will need to do.
- Sign Up – Before you can begin, you have to create your account on the exchange. This will ensure you have a digital identity which you can use to buy bitcoin on the platform.
- Specify the Amount – Next, you have to mention the amount of bitcoin you want to buy. You can do so in a variety of payment modes including fiat currencies. For instance, you can specify $50 or you can type in 0.001 BTC. What is the smallest bitcoin you can buy? Well, that will depend on the P2P exchange you’re on.
- Specify the Currency – This time around, you will have to mention the currency you’ll be using to buy bitcoin. If you don’t select any, USD will be the default.
- Pick Your Payment Mode – Most P2P exchanges offer a diverse variety of payment modes. For instance, on NeuronEx, there are over 200 payment methods including debit and credit cards. You can pick a seller that accepts your preferred mode of payment.
- Find the Most Suitable Offer – Once you are done providing the required information, the system will generate a list of all the offers that are currently available. These can be in hundreds, even thousands. You can pick the offer that appears to be the most suitable for you. Ensure that you understand the terms and conditions of the seller before you start the trade.
What Makes NeuronEx the Preferred P2P Cryptocurrency Exchange?
Although there are some big players in the market, NeuronEx has recently emerged as a disruptor in the P2P crypto platform industry with a wide range of distinguishing features that are customer-oriented. Some of these features include:
Fast and Affordable Cryptocurrency Trade
No matter where you are, NeuronEx’s blockchain termed Neuronchain enables the fast, secure, and affordable exchange of cryptocurrencies all around the world. The Agency network can carry out trades at a lightning-fast speed of 101,879.99 transactions per second with a minimal fee of 1 Neuron Coin per transaction.
It doesn’t matter if you are in Africa, Asia, or Australia, you can use Neuronchain to buy a small amount of bitcoin and other cryptocurrencies from anywhere. Moreover, you can also open accounts remotely in any bank in the world through Blockchain PD Vault. You basically have a possibility of linking fiat card of any bank with your crypto account.
Multiple Payment Modes
Apart from the near-zero cost of the transaction, NeuronEx offers more than 200 payment modes to its buyers and sellers including bank transfers, e-payment methods, and debit and credit cards. If you are using the native token of the blockchain (NRON), you can also earn 50% of the commissions made by NeuronEx. Moreover, the first month of trading on NeuronEx is completely free.
The team behind NeuronEx is rapidly pacing up the development of Neuron Wallet which will feature BIP 44, BIP 47, Seed Phrase backup, SegWit support, embedded exchange, and other convenience and security features to facilitate its users. You don’t only get to buy a small amount of bitcoin but you can directly store it in the most secure native wallet.
The next decade is going to be ruled by cryptocurrencies as they become more and more practical and socially accepted. This is why it is the right time to jump the gun and start considering investing in cryptocurrency portfolio. Whatever your reason might be, you can start slow by buying a small amount of bitcoin and move forward from there.
When buying small amounts of bitcoin, the best option you have is P2P crypto exchanges as they offer much more freedom, affordability, choice, and reliability. They connect you with highly informed and reputed individual sellers whom you can trust and you can get any amount of bitcoin without having to pay exorbitant sums in the way of transaction charges, withdrawal fees, and commissions. P2P exchanges provide you with a great way to get into the cryptocurrency business.