At the end of January 2022, there were more than 300 million regular users of digital assets. This number reflects the level of demand for cryptocurrencies in the world – almost 3.8% of the global population. But there are also many people who use coins and tokens only periodically. All of them buy cryptocurrencies with different commissions (up to 10% and higher). But there are methods of acquiring virtual assets with minimal fees.
Where you can buy cryptocurrency
As of mid-April 2022, there are 5 main categories of services for purchasing digital assets.
Stock exchanges. These are cryptocurrency platforms for trading coins and tokens. Many popular exchanges allow you to make deposits in fiat currency and buy digital tokens with them through trading terminals.
Exchanges. Such services provide clients with access to crypto-fiat financial flows. Exchangers allow you to convert national money into virtual assets.
P2P services. Some cryptocurrency ecosystems like Binance provide such tools to users. On P2P services, some customers buy assets from other customers. Transactions are controlled by built-in security systems.
Telegram bots. There are many different programs working in the relevant messenger. Some bots help to quickly exchange crypto-assets.
Cryptomats. They work on the principle of bank terminals. The difference is that the acquired coins are credited to the purse specified by the customer, not to the card.
Top 3 ways to buy cryptocurrency profitably
It is not recommended to use cryptomats and exchangers to purchase digital assets. They have the highest fees.
P2P services do not charge any fees. However, they are set by customers themselves for their offers. For example, users often sell 1 USDT on the exchange for 1.01 USD in the payment system AdvCash. Traders with large capitals may find the commission of 1.1% critical. But using P2P services is the most profitable method of buying crypto assets.
Buying cryptocurrencies via Binance P2P peer-to-peer service from Binance is a very popular way. There are always a lot of offers from clients here.
For April 21, 2022 on Binance P2P it is better to buy USDT for USD on AdvCash. Then the fee will be 1.0-1.1%. Purchasing Tether is done using the following algorithm:
• Open the website of the Binance exchange and complete the registration.
• Verify your account.
• Hover your mouse over the “Trade” in the service’s header.
• Click on P2P.
• Choose “Buy” on the page.
• Click on USDT.
• Select USD under “Fiat”.
• Select AdvCash under “Pay”.
• Find a good offer with the correct limit.
• Click on “Buy USDT” opposite the offer.
• Carry out the transaction according to the instructions.
Wait for the exchange confirmation and transferring of USDT to your trading account. The
maximum waiting time is 15 minutes.
Many supported crypto-assets can be purchased with the USDT received through Binance’s centralized exchange. The platform charges a 0.1% fee for trade transactions. This will result in a total fee of 1.1-1.2%.
Buying on FTX
FTX is a centralized exchange for cryptocurrency derivatives. But it also has a lot of spot assets. In total, the platform supports about 540 trading pairs as of April 21, 2022.
FTX has the lowest trading fees. The crypto platform charges only 0.07% for spot trades on tickers. However, before buying virtual assets, you must first make a deposit with a dynamic commission (depends on the amount, about 3% on average).
Replenishment of the trading account is carried out according to the following algorithm:
- Go to the FTX website and register your account.
- Pass verification.
- Open the “Portfolio” section.
- Click on “Deposit with card”.
- Add a bank card for payment.
- Enter the number of USD you wish to purchase (up to $2999).
- Click on “Submit”.
- Confirm payment.
After the ninth step, the dollars will be credited in a few seconds. After that, you can buy any supported FTX cryptocurrency paired with USD.
Experts do not recommend using exchangers and cryptomats to buy digital assets. It is better to use such solutions:
- Cryptocurrency P2P services.
- Exchanges for trading digital assets.
- Telegram bots.
Buying cryptocurrencies through them is the most profitable. The lowest commissions can be found in popular P2P services like Binance P2P – usually about 1-2%. Exchanges also present low fees – rarely higher than 5%.
However, the situation with Telegram-bots is ambiguous. Often they have no fees. But many programs work on the principle of P2P services. As a result, most sellers charge a high commission for their offers, around 10% or more. For this reason, we recommend waiting for profitable offers and not buying cryptocurrency at the first encountered one.