How to Buy and Trade Cryptocurrencies: An Ultimate Beginners Guide
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Cryptocurrencies have taken the world by storm for a decade now. While there have been ups and downs, Bitcoin has always rebounded with renewed enthusiasm because of its unique application. Bitcoin, with its value of $13,000, is the largest digital currency in the world by market capitalization. Previously it has reached a value of $20,000 in 2017. The strong competitor to Bitcoin is Ethereum with a value of $400.

Digital cryptocurrencies have captured the attention of many institutional and retail investors for investments. People invest in cryptocurrencies for a variety of reasons the chief one being a desire to make profits. The other reasons include portfolio diversification, increasing adoption, ease of trade with cryptocurrencies, etc.

That said, buying a cryptocurrency is totally different than trading it. And given the volatility of the crypto market, one mistake can have a hard blow on your investment portfolio. It is important to learn the basics of trading.

Here in this article, you will get to know how to purchase Bitcoins from different sources and where you can learn to trade them.

Where to Buy Bitcoin or Other Cryptocurrencies

Buy Cryptocurrencies on NDAX

NDAX is one of the best cryptocurrency exchanges to buy BTC. It is headquartered in Calgary, Canada. First, you need to sign up for an NDAX account. With this account, you can store Bitcoin and set up payment methods by which you can convert your local currency to Bitcoin or other cryptocurrencies.

You can make use of Interac e-transfer, wire transfer or bank draft for purchasing cryptocurrencies. The exchange displays the real-time value of cryptocurrencies in CAD and USDT. It is extremely easy to buy Bitcoin in Canada from NDAX.

Buy Cryptocurrencies on Binance

Binance is another cryptocurrency exchange that has huge trading volumes. For trading in Binance, you need to register an account with proper details and then deposit your account in a cryptocurrency wallet with a private key. The exchange trades in various cryptocurrencies such as Bitcoin, Ethereum, etc. Binance also supports fiat-to-cryptocurrency trading in some regions. For trading in Binance, you need to choose the cryptocurrency you want to trade and then watch the available trading pairs.

Buy Cryptocurrencies from LocalBitcoins

LocalBitcoins is a website that has become popular for over the counter trading with cash. This is a P2P trading platform that has gained a reputation for its reliability. It can connect buyers and sellers for trading. It also provides escrow services. For trading, you need to visit the website and select the amount you are willing to trade for and wait for a seller. You can then chat with interested parties for negotiations.

Buy Cryptocurrencies with HODL HODL

Hodl Hodl is a P2P cryptocurrency platform that allows buyers and sellers to do the trading directly. There is only a minimum escrow amount that is locked to safeguard against theft. Since the platform does not hold user funds, there is no need to go through complicated KYC procedures. You can enter your location and the amount you want to purchase. You can also pay using various methods such as bank wire, cash or cryptocurrency. The trading is secure as there is a rating system for the participants.

Different Ways to Buy Bitcoin or Other Cryptocurrencies

Peer-to-Peer trading platforms are decentralized exchanges that are operated exclusively by software. It allows parties to trade with each other without the presence of an intermediary. In this case, the software automatically connects buyers and sellers. There are no commissions to the intermediary for transactions. It has all the advantages of a decentralized exchange, which includes privacy, security, and high resistance to transaction censorship.

Buy Cryptocurrencies with Cash

If you want a private transaction, buying Bitcoin with cash is the right option. In this case, you won’t need to reveal your personal information or submit a lot of documents. Cash purchases are also faster as it does not require setting up wallets or payment methods. This is the ideal one for beginners who are new to cryptocurrencies. A wire bank transfer can take a lot of time for verification to transfer credit. There are also bank commissions you need to pay for each transaction.

In the case of peer to peer cash transactions, you can trade with a trusted friend from whom you can buy the digital currencies. You can also visit conferences to meet local people who may be interested in trading Bitcoins. You can pay an agreed amount of money to the person to receive the cryptocurrency to a wallet address or other methods.

Buy Cryptocurrencies via a Bitcoin ATM

You can buy Bitcoin from a Bitcoin ATM using cash. There are now more than 4,000 ATMs for trading cryptocurrencies. In this case, you need to put in money and provide a QR code for scanning. The cryptocurrency will be sent automatically to your chosen account. You can buy cryptocurrencies even in railway stations. Several brick-and-mortar outlets are selling Bitcoin coupons for people who want to buy a cryptocurrency for the first time.

Tips to Buy Cryptocurrencies Anonymously

You can buy cryptocurrencies without having to use any identification document for transactions.

The use of LocalBitcoins has become popular for buying Bitcoins. It is also an excellent platform for beginners to buy cryptocurrencies in person and using cash. With the help of this platform, you can meet someone willing to sell Bitcoin in your neighborhood. You can meet the person physically and then decide to transact. You can also use the platform to learn about buying cryptocurrencies. You can use an alias e-mail ID to protect your privacy.

Bitcoin ATM is a great way to transact in Bitcoins while being completely anonymous. You don’t have to provide any identification documents for payment.

You can also buy prepaid cards for buying cryptocurrencies without using your identity proof. It can be bought from convenience stores or supermarkets. There are various platforms such as Virwox that accept these prepaid cards and let you trade in cryptocurrencies.

Places Where You Can Learn to Trade Cryptocurrencies

Binance Academy (One of the oldest)

Binance is amongst the forerunners who helped shape the very crypto world that we know today. Not only they brought an exchange with multitude of features, but they also took upon themselves to teach the newcomers everything about cryptos and blockchain.

The topics are perfectly crafted keeping all sorts of questions in mind. If a person has further doubts that can't be solved via their guides, they can ask questions in the Ask Academy, where an expert personally caters to the query and provides elaborated answers. A person can also request for specific topics that aren’t covered by Binance Academy. (Not so old)

Not as popular as Binance or Investopedia, Chartguys has its fair share of loyal audience. It is an online course website that trains newbies in crypto trading. They teach all hibbie jibbies, aka indicators, bands, understand candlesticks, form patterns and do a complete technical analysis.

The visionary behind the course comes highly experienced with a proven track record. In fact, the whole team comprises expert traders and technical analysts. The course is offered in 7 different modules and a learner can enroll free of cost and then pay to learn the advanced lessons.

My Crypto Paradise (The Young one)

My Crypto Paradise is a professional trading company consisting of four professional traders having expertise in technical and fundamental analysis. Their indulgence in successful and profitable crypto trading has helped them gain a better understanding of the crypto markets. Now, they share their knowledge and insights with others in the form of free crypto signals and help them grow their crypto investment portfolio.

They use a premium Telegram group that has over 1,000 users, to share all the free crypto trading signals for Binance, BitMEx and Bybit Exchange. The successful trading method and personal coaching that My Crypto Paradise provides to their clients is helping them gain popularity and as a result more new members are joining them with each passing day. The ParadiseVIP Membership gets you a personal crypto expert to help you with basics, teach you how to execute our trades, and give you insights about the risk and fund management techniques that are used.


Buying and trading cryptocurrencies is easy and hassle-free. You can choose any of the available methods for convenient purchase and learn how to trade. You need to consider factors such as the maturity of the trading platform, transaction fees, debit and credit card support, the availability of various cryptocurrency options, privacy, bank transfers, payment methods, etc. You also need to find the right storage solution for your cryptocurrencies after purchasing them. Many cryptocurrency wallets give you a wallet address and a private key. You can make use of offline hardware wallets or online web-based wallets based on your trading requirements.

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