For most people, the very first step into the world of cryptocurrencies is the exchange of fiat for cryptocurrency. Fortunately, you won’t have any problems with this today. However, the more options there are, the more difficult the choice. Therefore, instead of the question “How to buy Bitcoin?” users were faced with the question “How to buy Bitcoin cheaply?”. Today we will try to answer the question posed.
Key points
- Fees are an essential part of purchasing cryptocurrency, but there are methods to avoid paying too big fees
- Exchange platforms tend to include the fee into the exchange rates which makes it difficult to find out if the price you is overvalued or not
- Aggregators compare offers of different platforms and reveal the most beneficial options
Fees for crypto buying and trading
No trader is immune from risks and losses, besides, one has to put up not only with the high volatility of digital coins, but also with various fees that platforms charge. Due to the lack of regulation and any uniform rules for all cryptocurrency platforms, each exchange has the right to independently assign the size and format of the commission, as well as subsequently reduce or increase the amount of fees.
The way of purchasing Bitcoin via instant crypto exchange services is perhaps one of the most popular and simple. There you can purchase Bitcoin and other digital assets using bank cards (Visa/Mastercard), electronic payment systems and other payment methods. Often, fees in such services are lower than on crypto exchanges. These platforms charge a small fee for providing users with a convenient and intuitive interface, technical support, fast transactions, and many other useful features.
Most often, the service embeds the fee in the exchange rate, which slightly complicates the purchase process, since you have to monitor and search for the best exchange rate on different platforms yourself. It was to solve this issue that exchange rate aggregators were created.
On Fiatom, we analyze and compare many rates from the most reliable and popular services and provide our users with the best offer. In addition, with the help of our service, you are able not only to compare and select the best rate, but also to compare the delivery time, payment methods, as well as reviews.
What is Bitcoin?
Bitcoin is a worldwide payment system without emission and inflation, through which transactions with this currency can be carried out. Its main difference from traditional payment systems is that the Bitcoin network does not have any management and processing center — all operations take place exclusively in a network of equal clients without intermediaries (peer-to-peer network). The decentralization of the Bitcoin network means that no one can cancel/prohibit a transaction or take away/freeze your Bitcoin.
Bitcoin is a peer-to-peer payment system for which cryptographic methods are used, and at the same time, transaction data inside it is publicly available to all participants. The BTC cryptocurrency exists only on the Internet, in digital form, but it can be converted into any real (fiat) currencies. In simple words, Bitcoin is a digital currency and a payment system that does not have centralization (as in a bank), and lives off the work of many computers connected to the blockchain network.
The properties of Bitcoin are practically no different from ordinary fiat money:
- It can be exchanged for any other currency;
- Can be used to purchase goods or pay for services;
- Accumulations of such funds are possible.
The production and accounting of cryptocurrencies is conducted by cryptographic methods. Today, Bitcoin is not the only, but the most famous cryptocurrency.
How to buy Bitcoin easily and profitably
In order to buy Bitcoin profitably and easily, a trader first of all needs to compare the BTC rates presented at different platforms. But why do it yourself, if with the help of Fiatom you can simply choose the best offer, and we will analyze all the nuances instead of you. Our service cooperates with the most profitable and secure fiat providers to provide you with the best Bitcoin exchange rate. In addition, since we are a non-custodial platform, you can forget about deposit and withdrawal fees. Let’s conduct a simple experiment. Today, February 9, 2022, let’s compare Bitcoin rates on Fiatom, Binance, and Huobi.
| Fiatom | Binance | Huobi | |
| Fiat amount | 100 USD | 100 USD | 100 USD |
| BTC Rate | 0.002702 (Liquid)0.002266 (Cex)0.002264 (Xcoins) | 0.002249 | 0.002208 |
As you can see, Fiatom offers the most favorable rates for buying Bitcoin. Even the lowest rates are superior in profitability to those offered by Huobi and Binance.
In addition, buying Bitcoin on Fiatom is as simple as 1-2-3:
- Enter Fiatom website.
- On the main page choose a fiat currency you wish to pay with (for example, USD) and a cryptocurrency you wish to buy (for example, BTC).
- Click the “Search” button on the right in order for us to select the best offers.
- Choose the best offer from one of our partners.
Conclusion
The more cryptocurrency is introduced into our lives, the more ways there are to buy coins for fiat. But not all of these methods are equally good and profitable. Aggregators such as Fiatom are designed to make life easier for traders, since you no longer have to look for the most profitable rates. Just a few clicks are enough and we will select the best exchange rate for you.
By the way, if you want to swap tokens with the best rates and minimal gas fees, we recommend you to try DEX Aggregator Droidex.
