August 3, 2020 / Beginners

How To Buy Bitcoin Safely

BTC growth

The growth in the number of Internet transactions encourages users to maintain privacy, anonymity, and secure communications. The problems of data leaks, passwords, phishing, and ransomware are widespread. Therefore, tssue of online security remains relevant. Since the beginning of 2020, cybercriminals have earned $ 24 million in BTC, while this figure has reached only $ 38 million over the past four years.

For example, on July 16, 2020, hackers attacked Twitter and gained access to the personal accounts of celebrities and the world leaders. They began to be used for personal purposes. Smaller attacks can be carried out using emails.

To maintain anonymity on the Internet, you must, first of all, leave a minimum of information about yourself, especially financial. An unscrupulous employee of a payment institution may try to cash in on stolen data. Even if the fraudster is held responsible for the crime, the user’s data will still remain on the network, which creates the risk of repeated fraud. One of the solutions to the problem is the use of cryptocurrencies.

Buying Bitcoin is still not as easy as it might seem at first glance: you need to choose a secure service, register, verify, KYC and AML, place orders and find a place for safe storage.

Trusting information about yourself to a third party is not the most reliable solution. Despite the existence of well-known and time-tested centralized services, even they periodically experience data leaks.

So how do you buy Bitcoin and other cryptocurrencies safely?

OTC/P2P

OTC or P2P transactions do not leave digital traces. This method allows you to find Bitcoin sellers in your region the transaction is carried out in person. The ideal option is familiar miners, as a rule, they have a token and need funds to pay for operating costs. In this case, the user receives “virgin” Bitcoins. However, there are risks in this way, you need to carefully choose the seller. It is worth waiting for two or three confirmations of the transaction and only then transfer the money.

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