You are struggling to find a place to buy Bitcoin? But you do not know how to buy, buy bitcoin where both reputable and cheap?
Then the same Blogtienao see this article! It will answer all your questions.
Where to buy bitcoin?
In Vietnam, there are 3 ways you can buy Bitcoin:
- Buy through Bitcoin exchanges
- Buying through dealers or is called "black market".
- Buy through Bitcoin ATMs
So which is better? To know, let's review the advantages and disadvantages of each method!
Buy BTC via Bitcoin exchanges
The form of buying Bitcoin through exchanges is chosen by many Vietnamese to trade because of its convenience and safety.
- Secure transactions avoid phishing components
- Many exchanges for you to choose from
- Guaranteed floor and complaint resolution
- Account creation and identity verification are a bit complicated
- The transaction fee is a bit high depending on the exchange
Buy Bitcoin through merchants
With this purchase, it is more risky than the exchange but also has its advantages.
- Quick transaction
- No transaction fees
- Cheaper than the floor
- No need to register for cluttery accounts
Fraud risks: It must be said that there are very reputable Bitcoin traders. Besides, the number of people scams (scammer) is not small.
Scams increasingly sophisticated. Scammer can pretend to be influential or reputable in the community and then commit fraud.
Even disguised as a group of a floor to go fool Someone even built up a reputation for 1-2 years and then turned around to trick a "super big" shot.
Buy BTC via Bitcoin ATM machine
Bitcoin ATM is still strange to many people. Even I have only known about it recently.
However, this is also a good way for you to buy bitcoins.
- Can use cash or credit card to buy
- Available in many countries
- Not yet popular (Vietnam has only 6 Bitcoin ATMs Coinatmradar)
Is buying Bitcoin in Vietnam legal?
The answer is yes!
If Bitcoin is considered as a commodity or a trading object, it is completely legal. Because Vietnamese law does not have any provisions or regulations on buying or selling BTC as a commodity.
However, Bitcoin is not legally recognized as an asset or money. So if you are cheated or appropriated BTC, you probably will not be resolved by the law.
Instructions on how to buy Bitcoin for newbies
As a guide for newbies, here I will introduce how to buy on the exchange.
Before buying, you need to prepare yourself a bank account registered Internet Banking offline. Because every transaction you have to use that bank account.
I encourage you to open a Vietcombank account because it's popular.
Step 1: Create a Bitcoin wallet
Do you remember the fairy tales "Paying for gold with star fruit"? When going to get gold, sew the bag with three gangs to carry.
Bitcoin too before you buy, you have to prepare something to store and store that right. Bitcoin wallets are what you can store Bitcoin after buying.
If you are buying for long-term investment, then you should choose cold wallets like Ledger Nano S, Ledger Nano X store it.
If you want to store short and medium time, choose hot wallet types such as: Blockchain Wallet, Coinbase Wallet, Wallet Trust.
And your purpose is trade coin You can put it on the floor.
Step 2: Choose an exchange and buy BTC
In order to buy Bitcoin cheaply and safely, we must choose the exchanges that meet the following criteria:
- Large floors are used by many users
- Cheap fee
- Convenient and easy transactions
The following Blogtienao will suggest some floors you can buy with VND:
Binance P2P belongs to Binance's ecosystem. So when you buy Bitcoin here, you will be involved in the vast ecosystem of the exchange.
Everyone can trade coin on Binance, play margin on Binance Futures or buy options contracts on Binance Options, bla… bla….
In addition, you can also trade on the web and mobile applications are quite convenient.
I will summarize how to buy on Binance P2P:
- Sign up for Binance
- Buy BTC on Binance P2P
- Withdraw to a personal wallet or you have a trade coin on Binance
People also refer to the article P2P trading on Binance to know how to trade like that.
Remitano floor is used by many Vietnamese people and has been operating for many years but the transaction fee is a bit high compared to the common ground.
I will summarize how to buy on Remitano for you to easily imagine:
- Create remitano floor account
- Deposit money into the floor
- Buy BTC
- Withdraw BTC on your personal bitcoin wallet if you want Bitcoin to store
This floor is suitable for new players because it is guided on Google quite a lot. Blogtienao also has articles Guide to buying Bitcoin on Remitano People refer to offline!
VCC floor in terms of low transaction costs and the difference between buyers and sellers. This is also a good floor for you to choose.
The exchange supports many trading pairs in addition to fiat trading, so you can also trade coins.
The way to buy and sell is similar to the other exchanges. You want to learn about the floor as well as register and trade you see the article about VCC floor ok
This is Singapore's leading cryptocurrency exchange (licensed from the Singapore government).
In addition, people can eat USDT difference during storms. Because Coinhako is a floor of Singapore, the price fluctuates according to SGD / VND.
There are times when USDT will be cheaper than other fiat floors and sometimes higher. Create conditions for brothers to eat USDT difference.
For details on how to register and how to buy and sell on Coinhako, see the article below!
If everyone, let's sum it up again!
Buy bitcoin at:
- Traders (black market)
- Bitcoin ATM
How to buy Bitcoin:
- Create a Bitcoin wallet
- Open an exchange account
- Buy BTC
- Transfer money to your wallet or leave it on the floor depending on the purpose
Hope the article helps you know where to buy bitcoin and cheap, reputable then! If you have any questions, comment below. Blogtienao.com Will answer soonest for you.