Since 2009 the situation with cryptocurrency has changed greatly. First, it cost almost nothing and people regarded it as a scam. In 2017 one of the most popular cryptocurrencies Bitcoin cost almost 20,000 USD.
It provoked the ‘crypto boom’ and promoted other digital currencies like EST, ETH, LTC, TRX, etc. Today one can use various services to sell, buy, or convert digital currency at home due to eth to trx and other exchange services. So, Where to Buy Crypto Currency? 2020 offers 3 possible ways of crypto currency purchases.
- Online exchanges
- P2P and prepaid cards
Where to Buy Crypto Currency: 3 Best Ways in 2023
Let’s have a close look at each of the available methods
ATM payment is fast and comfortable. One deposits cash to get Bitcoin or (less likely) other crypto currency. The biggest disadvantage is that such ATMs are rare.
One has to find a place on a map and move there to buy the required currency. Some ATMs require simple verification like an SMS password or phone call.
It will also need the address of your crypto wallet if you have one. Otherwise, the system will do that for you. Do not forget to take the receipt at the end of the purchase.
The procedure is simple but be ready to pay solid fees (up to 10%).
Online Exchanges: ETH to TRX and Other Options
This method is instant and easy. One looks for a reputable online exchange service with the lowest fee like Switchere.com.
A person selects the desired crypto currency and buys it using its dollar or euro equivalent.
It is also possible to apply a converter that exchanges one crypto currency to another one like ETH to TRX converter.
Such a website usually requires verification that includes your ID, phone number or email, address, card number (debit or credit) or information about money transfer, and a wallet address.
What for? Cryptocurrency is as personal as Mastercard or Visa payment systems.
Can you use a bank card giving zero personal data? No. The same situation occurs with digital currency.
So, to purchase cryptocurrency at Switchere.com or other alike site you will need to:
- fill in the registration form
- select the required currency
- choose the payment method
- provide the address of the
- online wallet
- buy the required cryptocurrency
Such a procedure helps to secure your account and wallet. Next time, you will be able to convert money instantly because the system will store your data.
The best exchange service offers a variety of payment options and available cryptocurrency. It must have a high rating and a qualitative security level.
P2P and Prepaid Cards
One can convert ETH to TRX using P2P methods. This way is the cheapest one because the buyer buys and the seller sells without extra fees. A customer can send money via ATM or through a website that deals with P2P.
The seller often asks to verify the identity and send a photo of a pass or a pic of a buyer holding his/ her ID. This verification secures both sides.
Such a purchase is beneficial, though it is hard to find a seller because buyers/sellers are not always honest and fair.
Besides ATMs that need only your phone number, prepaid cards also let you get cryptocurrency anonymously.
One can get this credit card at most supermarkets. It saves your time because you don’t have to introduce your ID information to the seller.
Some Facts you Should be Aware Of when finding where to buy crypto currency.
Electronic crypto wallets are created on special developer sites, cryptocurrency exchanges, exchangers and other portals.
Each digital currency (for example, bitcoin, ethereum, monero) has its own online wallet creation service.
Registration is simple and only takes a few minutes. A crypto wallet consists of two sets of numbers and letters, one of which is a public address, and the second is a private password that should not be disclosed to anyone.
Disk wallets – those that can be downloaded and installed on your computer – are considered more secure and reliable. You only need to download this wallet from the official website of the developers.
Such a program allows you to process transactions quickly. Applications can be designed for one cryptocurrency, such as Bitcoin Core, Electrum Bitcoin, Ethereum Wallet, or multi-currency (Exodus, Coinomi and others).
For long-term storage of large amounts, hardware safes such as Ledger and Trezor, which have a high degree of security, are suitable.
Your best bet is to purchase hardware wallets from an authorized dealer. But it should be borne in mind that such storages have a high price and a limited service life.
You can choose a reliable service from the whole variety of special monitors, on which verified exchangers are collected.
Having passed a quick registration on the website of the exchange office, you need to choose the exchange method (electronic payment system, bank card or cash at the office of the exchanger).
It’s up to a person to decide what method to choose to buy cryptocurrency. ATMs offer only Bitcoins and need cash. P2P systems are not so safe. It is hard to find sellers who accept prepaid cards.
No wonder, the easiest way is to collaborate with exchange markets because such services are quick and available in almost all corners of the globe. Switchere.com and other converting websites provide different types of cryptocurrency. Moreover, they deal with local payment systems and e-money transfer services.
They have online converters to let you calculate the sum you need or define the amount of crypto currency you can afford. Also, you can change one cryptocurrency into another one in a couple of minutes.
Choosing a crypto wallet is one of the main stages in working with digital assets. The storage of cryptocurrency must be approached with particular seriousness and responsibility.
In conventional electronic payment systems, there is a technical support service that will help you restore it if you lose access to your funds.
But with cryptocurrency wallets, in the event of such problems, no one will help you, unless you worry in advance about keeping access to them in a safe place and so securing your funds.