In this part, you will discover the different ways to obtain bitcoins, then we will make a purchase of bitcoins online. Finally, we will transfer these bitcoins to our Blockstream Green or Exodus wallet in order to maintain full control of our funds.
Indeed, if you buy bitcoins on an online exchange and leave them there, they do not belong to you.
In the event of hacking of the platform, bankruptcy of the company responsible for the platform or change in laws, you are exposed to the risk of partial or total loss of your funds. It is therefore important to take responsibility for the safety of your money today.
There are several ways to obtain bitcoins. Here are some of the most common methods:
- Buying on exchanges: You can buy bitcoins on online exchanges such as Coinbase, Binance, Kraken or Bitstamp using your fiat currency (euros, dollars, etc.). These platforms generally offer different optionspayment options, such as bank transfers, credit and debit cards, and sometimes other options like PayPal.
- Buying in person: You can also buy bitcoins directly from other people who want to sell them. Platforms like LocalBitcoinsconnect local buyers and sellers, and you can meet in person to make the exchange.
- Mining: Mining is the process by which transactions are verified and added to the blockchain, and new bitcoins are created as rewards for miners. You can mine bitcoin using your own hardware, but this usually requires technical knowledge and investment in expensive hardware.
- Purchase from an ATM Bitcoin(ATM): Bitcoin ATMs allow you to purchase bitcoins using cash or a bank card. You can find these ATMs in several cities around the world using a location service likeCoin ATM Radar.
- Accept bitcoin payments: If you have a business or sell goods or services, you can accept bitcoin payments. This allows you to receive bitcoins directly from your customers, without going through an intermediary.
[Source: how to buy Bitcoin in 2023](###)
There is no best platform, it will simply depend on what you are looking for according to your tastes: simplicity, the lowest fees, a regulated platform or even a French platform in good franchouillard!
You can find a complete comparison of fees on the different exchanges inThis item.
| Platform | Purchase costs | Credit card fees | Bank transfer deposit fees | What you need to know about this platform |
|---|---|---|---|---|
| Binance | 0.09%~0.10%decreasing with volume | 1.8% for VISA/Mastercard | 1€ | Exchangewith a huge choice in terms of cryptocurrencies, very low fees, lots of liquidity and registered with the Financial Markets Authority (AMF) in France |
| MtPelerin | 0% below 499 CHF then 0.90 to 1.3% | 2.50% + 1.23 EUR | 0% | Option without identity verification (KYC) |
| Coinbase | 0.40~0.60% | 3.99% | 0% | Highly regulated exchange around the world with very good processes to ensure the security of user funds |
| Kraken | 0.16~0.26% decreasing with volume | 3.75% + €0.25 | 0% | Exchange based in the US and Europe, highly regulated throughout the world with very good processes to ensure security. |
| BitPanda | 1.49% (BitPanda)0.25% (BitPanda Pro) | |||
| 0% | Austrian exchange registered with the Financial Markets Authority (AMF) in France | |||
| Swissborg | 1% | 2.25% (national card)4.5% (international card | 0% | Very easy to use Swiss platform registered with the Financial Markets Authority (AMF) in France |
| Paymium | 0.40~1.50% | not available | 0% | French platform registered with the Financial Markets Authority (AMF) in France |
We will now buy bitcoins on the exchange platform Mt Pelerin, for this you will need a smartphone to use their Bridge Wallet application toiOS And Android. If you only have one computer at your disposal, do not hesitate to follow this tutorialin place.
Mt Pelerin is a Swiss-based company affiliated with SO-FIT, a self-regulatory organization (SRO) officially recognized by the Swiss Financial Market Supervisory Authority (FINMA), the equivalent of the Financial Markets Authority (AMF) in France.
The particularity of this platform is that you can buy bitcoins in euros and Swiss francs without mandatory identity verification (KYC) with very reasonable fees by credit card and bank transfer.
However, to receive the funds without verifying your identity you will have to wait 7 days, otherwise you can verify your identity to be able to unlock access to the funds immediately but in this case we advise you to follow this tutorial to buy bitcoins on the platformBinancewho applies a little less.
Here are the different purchase levels available (in Swiss francs) on Mt Pelerin without carrying out identity verification 👇
Go to the website ofMt Pelerin, click on the "download the wallet" button then indicate your number on the site interface in order to receive an SMS with a link to download the application, otherwise go to theApple Storewhere theGoogle Play Storeand type Bridge Wallet in the search box to find the app then install it.
Once the application is installed on your phone, return to the site byhome page, select the amount in EUR you want to send.
For this example, we will pay by credit card because it is faster. Once the amount is defined, click on log in then choose the identification method you prefer: SMS or Bridge Wallet.
After identification, you can choose the address to receive the bitcoins, by default, it will be the address created by Bridge Wallet then click on "Next", provide your payment information and pay.
Once the funds are received in your Bridge Wallet, you will be able to transfer them from the Bridge Wallet application by clicking on the blockchainBitcoin at the top left then selecting the Bitcoin asset and clicking "Send".
On the Blockstream Green application, click on the "Receive" button and copy the address indicated on the screen then drop it into the Bitcoin Address field on Bridge Wallet.
Fees of transactionBitcoin will be applied in order to pay bitcoin miners and motivate them to process your transaction.
Your bitcoins are now on your Blockstream Green wallet!
- There are multiple ways to obtain bitcoin: buying it on specialized platforms, buying it from other users, by mining bitcoin or receiving payments in bitcoins for example.
- There are a lot of exchange platforms allowing the purchase of bitcoins with different advantages and disadvantages: acquisition price, ease of use, mandatory identity verification, etc.
- It is advisable not to keep your bitcoins or other cryptocurrencies on centralized platforms because in the event of a problem you expose yourself to the partial or total loss of your funds as may have been the case following the falls of the MT.GOX or FTX more recently.
- Not Your Keys, Not Your Coins -> Not your keys, not your coins. It's as simple as that.
- You can easily send bitcoins from one application to another application, but it will be necessary to pay transaction fees to reward the miners who ensure the proper functioning of the Bitcoin system.