Bitcoin is the most valuable cryptocurrency, and it’s unlikely anything is going to overtake it anytime soon. At the time of writing, Bitcoin isn’t standing at its strongest position, but it’s slowly increasing once more. With that in mind, there’s plenty of potential for Bitcoin to bounce back to its highs of 2021. At one point, Bitcoin was the 3rd most valuable currency out of both crypto and fiat. Bitcoin will always be a valuable crypto to add to your portfolio, so explore the safe methods of buying it below.

Crypto Exchanges

The most common method of buying Bitcoin is through a crypto exchange, and that’s even after Sam Bankman-Fried tainted the industry back in November 2022. Some of the most popular crypto exchanges include Binance, Coinbase, and Kraken, especially within the mainstream.

All you need to do to buy Bitcoin through an exchange is sign up with your details, verify your identity (depending on your country), add a payment card, and search for Bitcoin. Once there, you will have the option to buy Bitcoin using your payment method. You will need to have a digital wallet, but the majority of exchanges will create a native wallet when you sign up.

Peer-2-Peer Bitcoin Platforms

Instead of buying Bitcoin from an exchange, you can link your digital wallet to a peer-2-peer (P2P) trading platform, which will buy Bitcoin directly from other users. These platforms, like Paxful, are decentralised, meaning they’re typically more secure than crypto exchanges.

The benefit of choosing a P2P platform is that there are plenty more payment methods than the centralised exchange. For example, you can use Ria Money Transfer to send money on Paxful and receive your Bitcoins in return.

Trading Apps

Outside of traditional exchanges, you can invest in Bitcoin by using a trading platform. However, you will need to do your homework to make sure you’re not being charged too much extra. For instance, Robinhood is a fantastic trading app that lets you trade crypto with an impressive zero commission. Instead, you’re charged extra via a spread markup. Essentially, you need to make sure that what you’re being sold on the marketing front isn’t a misrepresentation of the fees you’ll end up paying.

Financial Apps

The internet is flooded with financial apps these days, whether it’s PayPal, Revolut, and Venmo. As well as facilitating fiat currency transactions and payments, many of these financial apps have opted to support cryptocurrency purchases. For example, PayPal lets you store crypto directly in the native wallet.

Even though you can store Bitcoin on your PayPal wallet, it’s not the most secure option because it’s a centralised system. Therefore, you should consider using a checking account, which you can explore further by clicking here.

As long as you’ve got a digital wallet, there are plenty of ways to add Bitcoin to your portfolio. There are no right or wrong answers when it comes to buying Bitcoin – you just need to ensure your assets remain secure by understanding the positives and negatives of each approach.