44465.75 Bitcoin (BTC) to US Dollar (USD)

When investing in cryptocurrency, it is important for the user to choose a reliable exchange, not to overpay due to high commissions, and take into account many other aspects. Moreover, even one mistake can lead to loss of money. This can be avoided if you follow simple rules

The Bitcoin rate reaching a new high above $20 thousand, the crisis caused by the pandemic and quarantine attracted new users to the cryptocurrency market. But the problems remain the same - a beginner, and even an experienced investor, can easily lose money when buying digital assets. The reason for this may be your own mistakes or scammers. To reduce such risks, the editors of RBC-Crypto have prepared instructions and learned advice from industry representatives.

Where to buy Bitcoin?

Buying BTC for USD on the EXMO exchange is very easy, you just need to follow a few steps:

Login to EXMO or create an account if you don't have one;
Go to the “Wallet” section of your personal account;
Select USD currency and top up your balance;
Go to the “Trades” page, select BTC/USD in the list of currency pairs;
Scroll down to “Buy BTC” and “Sell BTC”;
Select order type: Limit, Market or Stop:
A limit order is an order to buy (or sell) BTC at a certain, more favorable price. A buy limit order is executed only at or below the specified maximum price, and a sell limit order is executed only at or above the specified maximum price.
A stop order is a pending order for automatic purchase or sale operations, which is executed according to previously established restrictions in order to make a profit and (or) minimize possible losses.
Fill in the “Amount” and “Price” fields (pay attention to the transaction fee).
Click the “Buy” or “Sell” button.

Easy, right? Now you know that buying Bitcoin and exchanging US Dollars for Bitcoin is available to all users. You just need to figure it out a little.

Exchanges

The easiest and most convenient way to buy cryptocurrency is to do it directly on the exchange. Today, many trading platforms allow you to deposit funds through electronic payment systems or directly from bank cards. Thus, the user can top up the balance on his exchange wallet with rubles or other currency, and then use these funds to buy digital assets.

Or you can buy cryptocurrency immediately, in one action. To do this, the user needs to select the “buy cryptocurrency” option on the exchange, select which asset he wants to purchase, and fill out an application. Then you will need to transfer funds to the account offered by the trading platform. When the money is transferred, digital coins will appear in the user’s exchange wallet.

Exchanges charge commissions for their services. At each individual site, their size may vary, but, as a rule, it is 2-5%. It depends on the method of replenishment and on the platform itself. Therefore, before replenishing your exchange wallet, you can check the size of commissions on several exchanges and choose the most profitable option. This will save 1-2% of the amount that will later be invested in Bitcoin or other coins.

Bitcoin to US Dollar exchange service created for your convenience.

EXMO is a reliable cryptocurrency exchange with a high level of security of funds and data and the fastest technical support that responds within 15 minutes 24/7. Taking care of the client is the main priority of the EXMO team.

The EXMO platform, where you can exchange BTC for USD, was founded in 2013 and has offices in London, Kyiv, Istanbul and Moscow. EXMO is one of the largest exchanges in Europe in terms of traffic, BTC trading volume and liquidity.

The platform's easy-to-use interface will be convenient for both beginners and professional traders. The platform uses TradingView charts , which contain all the tools and data a trader needs for technical analysis when trading Bitcoin or US Dollar.

How not to lose money when buying cryptocurrency through exchanges

Not all exchanges can be trusted. There is always a risk of using the services of a dubious site that was created by scammers. To avoid this and not lose money, Maria Stankevich, Director of Business Development and Communications of the EXMO exchange, named a number of indicators that can help you make the right and safe choice.

Publicity of the exchange . The opportunity to get to know the platform owners and its team is one of the indicators that the company has nothing to hide. This also includes the presence of additional interaction with users through social networks, which is constantly supported. Exit scams—when a team abandoned a project and absconded with client funds—happened primarily to exchanges that maintained complete anonymity.

Exchange registration and license . This is another element of company transparency. In addition, the country of registration itself can say a lot, since the activities of the site must comply with the relevant legislation.

Life of the site . The presence of fresh news, updates and new products indicates that the company is committed to growing its business in the long term.

User support . Technical support performance, response speed and actual problem solving are also important and sometimes play an important role in preventing fraud.

Experience . The likelihood of a scam from an exchange that has been operating for several years is significantly reduced. In addition, over the years, work experience has accumulated, including anti-fraud practices.

Partners . Cooperation with large and well-known companies also indicates the integrity of the exchange. For example, when connecting to any payment system, the exchange undergoes a thorough legal audit from the opposite side.

Anti-Money Laundering Compliance . Although identity verification (KYC) and anti-money laundering measures are often perceived ambiguously in the crypto community, their presence on the site indicates the exchange’s desire to work within the legal framework. They, in particular, help prevent hackers from withdrawing funds after a hack on another exchange.

Easy withdrawal of funds . You should not deposit the entire planned amount into the site at once. It is quite reasonable to first test the work on it, familiarize yourself with the functionality, security measures, as well as the possibilities of withdrawing funds and its implementation in practice.

Bitcoin exchanges with fiat deposits and withdrawals

Some Bitcoin exchanges allow you to top up your account and withdraw fiat money to your wallet or account. The ability to replenish the balance and withdraw in rubles, dollars and other national currencies expands the trader’s trading capabilities and allows him to use local payment methods.

✅ Deposits and withdrawals from the platform in fiat are supported by the following bitcoin exchanges from our TOP 10:

№	Bitcoin exchange	Address	Fiat deposit/withdrawal
1	Binance	https://www.binance.com/	+
2	Bithumb	https://www.bithumb.pro/	+
3	OKEx	https://www.okex.com/	+
4	Huobi	https://www.huobi.com/	+
5	Bitfinex	https://www.bitfinex.com/	+
6	CEX	https://cex.io/	+
7	EXMO	https://exmo.me/	+

Best BTC exchanges by trading volume

Trading volume is the turnover on the exchange within a day.

This indicator objectively shows the degree of popularity of the trading platform among traders. If there are a lot of traders on the exchange actively trading different crypto coins, then they are here for a reason. This means that the exchange offers them favorable trading conditions, provides high liquidity and security.

However, exchanges are often accused of inflating actual trading volume to attract large traders. Therefore, we recommend working with sites from the TOP-10, which, in addition to reliability, are distinguished by high daily turnover.

#	Exchange	Address	Trading volume, 24 hours
1	Binance	www.binance.com	384,445
2	OKEx	www.okex.com	127,519
3	Huobi Global	www.huobi.com	49,664.65
4	Bitfinex	www.bitfinex.com	20,912.44
5	Bitforex	www.bitforex.com	10,763.48
6	BitGlobal	www.bitglobal.com/en-us	5,888.02
7	Bittrex	bittrex.com	2,151.82
8	Poloniex	poloniex.com	1,863.97
9	EXMO	exmo.com	1,627.20
10	CEX.IO	cex.io	542.28

Data update 01/13/2022, 13:51

Exchangers

Another way to purchase cryptocurrency is through special exchange services. Exchangers allow you to buy and sell many popular cryptocurrencies for rubles and other currencies. You can pay for the operation in various ways, for example, from electronic payment systems, bank cards, or in cash through ATMs.

Exchanges are a less convenient and riskier way to buy cryptocurrency. There is a risk of using the services of scammers or making a mistake when performing a transaction that will cost all the money invested. But there is also a significant advantage: among exchangers you can find a service that offers the most favorable rate or the lowest commissions. Their size, as a rule, starts from 2% and can reach 10%.

You can choose the most profitable rate using services for monitoring exchangers. They collect data from many exchange sites and allow you to rank them according to the most favorable rate, reviews and other parameters.

Before using an exchanger, you should decide where you will transfer the purchased cryptocurrency. This can be an account on an exchange or an over-the-counter wallet. Accordingly, they need to be created before proceeding to purchase digital coins.

Exchangers work as follows:

On the exchanger’s website you select the asset you want to purchase and the payment method
Indicate the amount for which you want to buy cryptocurrency. It is better to specify round values, for example. 10 thousand rubles, so as not to make a mistake when sending funds to the exchanger, otherwise you can lose money.
Specify the address of the wallet where the cryptocurrency will be sent. You can view it in your personal account on the exchange or in the OTC wallet menu
Confirm your purchase request
Transfer funds to the account offered by the exchanger. On many services, after transferring money, you need to click the “I paid” button. It is important not to forget to do this, otherwise the service will not understand that funds have been transferred to it and, accordingly, will not send you cryptocurrency.

When your funds reach the exchanger, it will transfer cryptocurrency to the address you specified. This operation usually takes 10-15 minutes, but in some cases it can take up to an hour.

EXTREMELY IMPORTANT . When you use an exchanger, it is important to indicate the exchange address of the exact cryptocurrency you are buying. If, for example, you purchase Bitcoin and indicate the Ethereum wallet address in the application, the funds will be irretrievably lost; it is impossible to cancel such an operation after it has been processed.

The main ways to buy bitcoins on the Internet

Purchasing online is not difficult for cryptocurrency users. Next, we will list the main ways to buy and sell bitcoins on the Internet and offline, and also tell you in more detail about trusted sites for secure exchange. There are several ways to buy Bitcoin:

— online shopping directly from other users. A risky method, since there are many scammers operating online. Even having a guarantor will not protect against theft of funds.

— through online exchangers;

— on cryptocurrency exchanges;

— purchases for cash through Bitcoin ATMs or crypto ATMs.

Rating of Bitcoin exchanges by commission size

An equally important indicator when choosing an exchange is the size of the trading commission , which exchanges are required to charge in one amount or another. The commission fee is their earnings.

As a rule, replenishing an account on the exchange occurs without commission . However, withdrawal of funds from the platform and commission for trading exist on any platform and their size directly affects the trader’s earnings.

It is logical that the lower the commission, the more the trader earns. In the table we have collected the commissions of Bitcoin exchanges from the TOP 10. ✅

№	Bitcoin exchange	Address	Maximum trading commission	Minimum trading commission
1	KuCoin	https://www.kucoin.com/	0.08% for maker and 0.1% for taker	-0.005% for maker and 0.025% for taker
2	Binance	https://www.binance.com/	0.1% for everyone	0.0200% for maker and 0.0400% for taker
3	Bithumb	https://www.bithumb.pro/	0.1% for everyone	0.1% for everyone
4	OKEx	https://www.okex.com/	0.1% for maker and 0.15% for taker	0.06% for maker and 0.07% for taker
5	Bitfinex	https://www.bitfinex.com/	0.1% for maker and 0.2% for taker	0% for maker and 0.055% for taker
6	Poloniex	https://poloniex.com/	0.125% for everyone	0% for maker and 0.04% for taker
7	CEX	https://cex.io/ru/	0.16% for maker and 0.25% for taker	0% for maker and 0.1% for taker
8	Bittrex	https://global.bittrex.com/	0.2% for everyone	0% for maker and 0.08% for taker
9	Huobi	https://www.huobi.com/	0.2% for everyone	0.0097% for maker and 0.0193% for taker
10	EXMO	https://exmo.me/	0.4% for everyone	-0.05% for maker and 0.05% for taker

How to choose the most appropriate moment to buy bitcoins?

There are several factors to consider:

— the situation on the market: what is the general mood of investors, how do governments of different countries react to cryptocurrencies, against what background are cryptocurrencies growing or is this pure speculation, what upcoming events related to the crypto market are approaching;

— cryptocurrency price and TA charts. You must be able to track trends and correctly find entry points if the price has dropped significantly;

— adhere to risk management: average the purchase price, for example.

Bitcoin ATMs (crypto ATMs)

Crypto ATMs allow you to buy bitcoins for cash if you cannot purchase cryptocurrency via the Internet or do not trust exchangers and stock exchanges. The problem is that Bitcoin ATMs are hard to find. The current location of crypto ATMs can be found on the website Coinatmradar.com.

Buying bitcoins from ATMs is more reliable because their activities are easier to control and the likelihood of fraud is almost zero. You can read about how to buy Bitcoin at a crypto ATM in our article: What are Bitcoin ATMs and how do they work?

How to register an online wallet

Let's look at the process using the example of one of the most popular web wallets, Blockchain.com. Registration takes place in several stages and does not take much time.

1) go to the Blockchain wallet website and click “Login” or “Create your wallet”, after which a form opens for filling out registration data;

2) in the form you must fill in your e-mail and password. Then accept the user agreement and click on the “Create My Wallet” button;

3) an email will be sent to you containing a link. Follow it and activate the wallet;

4) you can now use your wallet. Please note that to log in, it is not your email address that is used, but your ID-wallet, which can be found in the activation letter. Do not confuse the ID and wallet address. The ID is only used to log into the web wallet.

For unverified users, the exchange limit is $1000, and exchange within the wallet is also not available. After identity verification, the limit will increase to $25,000 and atomic swap will be available. In total, the wallet supports 5 cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Stellar and the USD PAX stablecoin.