4 Ways to Buy Cryptocurrency: through p2p, exchange, or exchanger
This guide is part of an introductory series of articles on cryptocurrencies. It is constantly updated and supplemented to reflect the new realities in Russia. The instructions will help you buy crypto for further investments or long-term storage.
At this stage, it's important to understand the basics, how cryptocurrency works (a good introduction from Tinkoff Journal), how to store and transfer it.
We will consider three ways to purchase:
Buying through P2P
P2P is popular in cases where there are restrictions on working with cards. The mechanism is simple. We sell or buy cryptocurrency directly from another person. All purchase and sale requests are placed on the cryptocurrency exchange. Any client can place an advertisement for buying and selling cryptocurrency. In this case, the exchange acts as an intermediary guaranteeing the safety of the transaction.
In the eyes of the bank, such a transaction looks like a regular money transfer to another individual.
Advantages include: no commissions, favorable rates, and a variety of payment methods.
Step 1. Registration on Binance
We will step-by-step review one of the most convenient P2P platforms.
Register on Binance exchange, nothing complicated. Enter your email and create a password. Then verify your phone number.
Step 2. Verification
In addition to registration, you need to confirm your identity. Go to the Verification section from the main page
Next, select the section with the same name. You will need to provide personal information, photographs of documents, such as your passport, and also go through facial recognition - you will have to look into the camera.
Step 3. Adding a Payment Method
To send and receive money, you need to add a payment method. To do this, open the Trade (in the top menu) section and click P2P
Then click Add Payment Method
There, choose a payment method. I chose Card Transfer (Russia)
Enter the card number and the name of the bank. Confirm.
To avoid being denied when adding a payment method, enter the card number by separating every four digits with a space, not continuously.
Example: 1233 5123 4122 4123
Step 4. Buying through P2P
Go to the P2P section from trading. Click Buy, select the asset, for example USDT, then choose the currency, payment type, and enter the amount in the search.
USDT is a cryptocurrency equivalent to the dollar.
Next, choose a seller based on the number of their transactions. The higher the percentage of their execution, the better. This is indicated next to their nickname. Then click Buy.
We will be provided with the seller's card number and the amount to pay. Transfer the specified amount to them via a regular transfer, down to the penny. Then click – Paid, next. After that, the seller will confirm receipt of the funds and transfer the cryptocurrency to your account on the exchange. That's it, the transaction was successfully completed.
Selling through P2P
First, we will transfer the asset from the spot wallet to the deposit wallet. Go to the wallet and click Transfer. I will be transferring USDT.
This is what the transfer interface looks like.
Again, go to the P2P section from trading. Just like when buying, click Sell, select the asset, for example USDT, then choose the currency, payment type, and enter the amount in the search.
I chose to sell USDT for rubles via card transfer. Select the merchant. Then click Sell.
When the seller sends you the money, they confirm the payment. Check your card balance. If the money has arrived in the required amount, click Payment received.
If it hasn't arrived, wait and check again.
If it arrives in a completely different amount, you can file an appeal.
That's it, you have the money, you have successfully completed a P2P exchange.
How to Buy Cryptocurrency with a Card on Binance Exchange
Previously, to buy Bitcoin on the exchange, it was necessary to resort to the help of third parties - using cryptocurrency exchangers. Today, you can buy cryptocurrency on Binance exchange directly for rubles with your Sberbank VISA card. This method is accessible to any beginner.
Step-by-step instructions for purchasing cryptocurrency on the exchange:
Step 1. Registration
Go to the Binance exchange website - Binance.com. Next, in the top menu "Buy Cryptocurrency," select the option with a credit or debit card.
Step 2. Entering Data
In the window on the right, select the exchange coin you are willing to give for purchasing cryptocurrency. The calculator will calculate and show how much cryptocurrency you can buy for rubles on Binance exchange.
Step 4. Verification
Next, Binance exchange will ask you to undergo identity verification. For this, you will need to fill in your full name and attach a photo of your passport data.
Step 5. Transfer
The final step will be making the transfer. The exchanged money will be automatically credited to your balance on Binance exchange.
How to Buy Cryptocurrency Through an Exchanger Without Verification
The next way to buy cryptocurrency is considered the most popular and at the same time universal. It allows you to buy Bitcoin or another digital currency using a Qiwi wallet or Sberbank card, but using intermediaries in the form of electronic exchange points.
Let's move on to the step-by-step instructions for purchasing cryptocurrency:
Step 1. Get a Wallet
Get your crypto address where you will store the currency. Either on a cryptocurrency exchange or using a cryptocurrency wallet.
You can quickly open a Bitcoin wallet on the resource blockchain.com.
1. Register
2. Get your Bitcoin address by clicking the Request BTC Now button
Step 2. Find an Exchanger
Next, go to Bestchange. Find the needed exchanger using the filter on the left, which allows you to sort exchangers by the exchange pair you need.
✅ For example, we want to buy Bitcoin through Qiwi rubles, for this
- Select the currency (QIWI Rubles) that we are going to exchange
- Select the cryptocurrency we want to buy - Bitcoin BTC
- Here are the available exchangers that can exchange QIWI for Bitcoin
The service will allow you to buy cryptocurrency cheaply with low fees, so choose an exchanger without negative reviews, with a large reserve, and suitable limits for the transfer.
Step 3. Use the Exchanger
Enter all payment details on the exchanger's page. Follow the instructions that appear on the screen. In the Qiwi field, enter the address of your Qiwi wallet, and in the Bitcoin Address field - the Bitcoin wallet address where the money will arrive.
Step 4. Payment
A window will open with all the data you entered before. When you click the "pay" button, the official payment service website Qiwi.com will open
Keep in mind that the transfer will not be instantaneous. In 90% of cases, the transaction may depend on the load of the blockchain network.
How to Buy Bitcoin with a Visa Card Outside of an Exchange
The process of buying Bitcoin with a Visa card or Sberbank is no different from the previous method.
Step 1. Get an address as in the previous method.
Step 2. On Bestchange.ru, select in the "You Will Give" field - Sberbank, and in the "You Will Receive" field - Any cryptocurrency, for example, Bitcoin.
When buying BTC with a Visa or MasterCard from Sberbank, choose an exchanger without negative reviews and with the necessary reserve.
Step 3. Next, go to the website of the selected exchanger, enter your details, and ensure their correct format.
Step 4. Card verification. At this stage, some exchangers require you to verify your card for their security. You will need to read their instructions and perform a series of simple operations. Usually, this includes
- Taking a photo of your card against the background of the application form
- Receiving an SMS with a code
- The exchanger may immediately offer to proceed to the transfer
After verifying your Visa card (if it was required), you will be given the opportunity to transfer funds to the exchanger's details, thereby creating an application.
Step 5. Final Step. After transferring the required amount, you just need to wait for the Bitcoins to arrive in your Bitcoin wallet.
Often, the transaction is delayed due to the load on the blockchain network, or due to a number of other non-critical factors.
In conclusion, it should be added that exchangers are always on the client's side. Therefore, each of them has operators available around the clock ready to assist. Before starting to buy cryptocurrency, you can contact a manager to accompany your transaction from start to finish.