A complete guide to buying Bitcoin through formal channels

As digital currencies become increasingly popular, Bitcoin, as the most representative virtual currency, has attracted the attention of many investors. However, many people often face a problem when buying Bitcoin: how to choose a formal channel to buy it? In this article, we will explore in depth different purchase channels, related precautions, and security issues to help readers better understand how to buy Bitcoin safely and effectively.

First, we need to clarify the main channels for purchasing Bitcoin. Generally speaking, Bitcoin can be purchased through exchanges, over-the-counter (OTC), Bitcoin ATMs, self-service trading platforms, etc. Each method has its own unique advantages and disadvantages, so when choosing, you should choose according to your own needs and risk tolerance.

Among the many choices, digital currency exchanges are one of the most common purchasing channels. There are many types of exchanges, such as Binance, Huobi, OKEx, etc., which are internationally renowned trading platforms. After users register an account on these platforms, they can recharge by binding a bank account or credit card, and then directly purchase Bitcoin. The advantages of exchanges are strong liquidity, convenient transactions, and the operation interface is usually more user-friendly for novices. However, exchanges also have certain security risks, especially the frequent hacker attacks in recent years, which make many investors feel uneasy. Therefore, when choosing an exchange, be sure to choose platforms with good reputation and strong security protection measures.

Next, let's look at over-the-counter (OTC) trading. OTC trading refers to transactions between buyers and sellers directly, without going through an exchange. This method is usually suitable for large transactions, because OTC trading can avoid price fluctuations caused by large transactions. At the same time, OTC trading also provides higher privacy protection and is suitable for users who do not want to make their transaction records public. Nevertheless, the risks of OTC trading cannot be ignored, especially when choosing a counterparty, be sure to choose a trustworthy trading platform or intermediary to ensure the security of the transaction.

Bitcoin ATMs are another emerging purchasing channel. In recent years, Bitcoin ATMs have gradually become popular around the world. Users can easily obtain Bitcoin by simply finding a nearby Bitcoin ATM and purchasing it with cash or a bank card. The advantages of this method are that it is simple to operate and highly anonymous, making it very suitable for users who do not want to conduct transactions online. However, Bitcoin ATMs usually have high handling fees, and not all regions have ATMs, so you need to find relevant information in advance before using them.

Self-service trading platforms are also a purchase channel worth paying attention to. Such platforms usually provide peer-to-peer trading services, allowing users to trade directly with other users. Users can choose appropriate counterparties according to their needs and directly buy and sell Bitcoin. This method is more flexible, but it also requires users to have certain risk control capabilities. When choosing a self-service trading platform, it is recommended to choose those platforms with high user ratings to reduce trading risks.

In addition to choosing the right purchase channel, users also need to pay attention to some security issues when buying Bitcoin. First of all, be sure to protect your account information and do not disclose your password and private key at will. Many hacker attacks are caused by improper operations of users, so be extra careful when operating. In addition, it is recommended that users turn on the two-factor authentication function, which can improve the security of the account to a certain extent.

Secondly, when conducting Bitcoin transactions, it is also crucial to choose the right payment method. Different payment methods have different risks, and users should choose according to their own needs. For example, when paying with a credit card, although the transaction speed is faster, due to the reversibility of credit card transactions, some transaction disputes may occur. Using a bank transfer is relatively safe, but the transaction speed is slower, and users need to wait patiently.

It is also very important to maintain a rational investment mentality throughout the purchase process. The Bitcoin market is highly volatile, and prices fluctuate. Many investors often make emotional decisions due to short-term market fluctuations. It is recommended that users fully understand market dynamics and related knowledge before purchasing Bitcoin, formulate a reasonable investment strategy, and avoid blindly following the trend.

Finally, it is worth mentioning that with the development of blockchain technology, more and more countries and regions have begun to pay attention to the regulation of digital currencies. In some countries, the government has established corresponding laws and regulations to regulate Bitcoin transactions, which has improved the security and legality of transactions to a certain extent. Therefore, when buying Bitcoin, users should also understand the relevant policies of the country where they are located to ensure that their transactions comply with local laws and regulations.

Through the above analysis, we can see that there is more than one option for buying Bitcoin through formal channels. Users can choose the appropriate purchase method based on their needs and risk tolerance. At the same time, during the purchase process, be sure to remain vigilant to ensure the security of the transaction. I hope this article can help more investors and allow everyone to go steady and far on the road of Bitcoin investment.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

For ordinary investors, if they want to invest in Bitcoin, it is definitely unrealistic to choose mining. Therefore, various Bitcoin trading platforms of all sizes have emerged in response to market demand. It can be said that new Bitcoin trading platforms appear every day, but not every Bitcoin trading platform is formal and reliable. So, as an investor, how should you choose from so many Bitcoin trading platforms? The following article will explain this.
 What are the formal channels for purchasing Bitcoin?
1. Network
Huobi has assets of US$5.266 billion, a total of 920 trading pairs, and a 24-hour trading volume of US$19.277 billion.
Justin Sun, a member of Huobi HTX Global Advisory Committee, made a major announcement: Huobi's international brand has been officially upgraded to HTX. The renaming of Huobi HTX represents the transformation to globalization. Huobi HTX will take "building a metaverse financial free port" as its new mission and start the strategic layout of "global expansion, ecological prosperity, wealth effect, safety and compliance" under the vision of "enabling 8 billion people around the world to achieve financial freedom". These changes will ensure that Huobi HTX continues to occupy a dominant position in the new market landscape.
2.
The network assets are US$4.202 billion, with a total of 922 trading pairs and a 24-hour transaction volume of US$24.504 billion.
As the world's largest cryptocurrency trading platform, Binance () Exchange is undoubtedly the leader in the cryptocurrency circle. It covers many national markets and time zones, and its business volume is growing rapidly. In addition, the trading experience and depth are naturally impeccable. The trading interface and app design are also very high-end, and users have a good reputation. At the same time, the platform community is also very colorful, with high user activity. Some offline meetups are often held, and user participation is very high. At the same time, there are also a large number of users on social media and Telegram groups, and various interactions between project parties and users are also very frequent.
3. MXC
MXC has assets of US$50 million, a total of 446 trading pairs, and a 24-hour trading volume of US$545 million.
MXC International Station is a platform focused on the exchange and communication of blockchain assets, founded by senior quantitative trading teams from Wall Street, Japan and Europe and senior blockchain practitioners in a decentralized self-organized form. MXC will provide users with safer, more convenient and intelligent blockchain asset circulation services, aggregate high-quality blockchain assets from around the world, integrate the world's top security technologies, and strive to build the world's top blockchain asset international station.
4. OKX
OKX has assets of 35.3506 million US dollars, a total of 688 trading pairs, and a 24-hour trading volume of 14.47 billion US dollars.
OKX was founded in 2017. Due to its long registration time and stable trading, it has always been praised by investors. The main business of the exchange is to provide users with Bitcoin, Ethereum and other encrypted asset trading services. On February 2, 2021, the exchange officially used the Chinese name "Ouyi". In January 2022, it was renamed OKX.
5. Bitget
Bitget has an asset strength of US$52 million, a total of 716 trading pairs, and a 24-hour trading volume of US$10.628 billion.
Bitget Exchange supports real-time online transactions of 500+ virtual currencies, and holds Canadian MSB license M20179708, US MSB, Australian DCE and other licenses. In 2022, it will gradually add financial management, half-price coin purchases, voting for coin listings, contract strategy trading, and add more capabilities to SBGB. It is a one-stop shop suitable for all types of investors.
6. Gate.io
Gate.io() has assets of US$204 million, a total of 521 trading pairs, and a 24-hour trading volume of US$143 million.
On July 22, 2020, the Gate.io brand was fully upgraded and the Chinese name "Open Sesame" was officially launched.
Gate.io is a global blockchain asset international station that has provided nearly 500 kinds of high-quality blockchain asset trading and investment services to millions of users from more than 224 countries around the world. It is a relatively reliable trading platform in terms of liquidity and security. Founded in 2013, it is the world's top 10 digital asset trading platform in terms of trading volume.
7. KuCoin
KuCoin has assets of US$18.5676 million, a total of 483 trading pairs, and a 24-hour trading volume of US$123 million.
KuCoin is a world-renowned digital currency trading service platform that supports multiple digital asset transactions. Founded in September 2017, KuCoin has grown into one of the most popular digital currency trading service platforms, currently providing one-stop services such as currency-to-currency, fiat currency, contracts, Pool-X, and lending to 5 million users in 207 countries and regions around the world. Known as the "trading service platform for all people", KuCoin operates in Seychelles and provides users with a multi-lingual, 24/7 customer service team. At the same time, KuCoin has established localized communities in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India and other places to provide the most localized services to users in various places. In November 2018, KuCoin received a US$20 million Series A financing from IDG Capital and Matrix Partners.
8. K-net
K.net has an asset strength of US$7.854 billion, 657 trading pairs, and a 24-hour turnover of US$3.860 billion.
Kraken (Knet) exchange was the first company to undergo a proof of reserves audit and has since committed to regular proof of reserves publications. It can trade more than 200 digital assets and 8 different national currencies, including British Pound, Euro, US Dollar, Canadian Dollar, Japanese Yen, Swiss Franc, Australian Dollar and Australian Dollar.
9. Coinbase
Coinbase has an asset strength of US$2.231 billion, a total of 387 trading pairs, and a 24-hour trading volume of US$2.364 billion.
Coinbase is one of the largest in the world. It was founded in 2012 and became the first listed digital currency exchange in the cryptocurrency circle in 2021. Its main businesses include digital currency trading, digital securities and digital asset custody. In the compliance development history of Coinbase, there are two important milestones. One is that Coinbase obtained the BitLicense from New York State in 2017, a business license for virtual currency activities, and the other is the listing on Nasdaq in 2021.
10. DigiFinex
DigiFinex has assets of $3.3823 million, a total of 300 trading pairs, and a 24-hour turnover of $854 million.
DigiFinex is a leading global crypto asset trading and management platform, headquartered in Hong Kong. The core team members are executives from listed companies in mainland China and Hong Kong, and it has 5 offices around the world (South Korea, Singapore, Malaysia, Australia, China). DigiFinex is the trusted and preferred crypto asset investment partner of 4 million users worldwide. Its liquidity ranking ranks among the top ten in the world, with more than 240 trading pairs and 150 cryptocurrencies. The platform provides crypto asset trading (including spot, margin and derivative trading), crypto asset management (such as quantitative funds, pledged currency, etc.), and crypto asset storage services.
The editors in the currency circle would like to remind investors that choosing a Bitcoin trading platform is the most critical step in investing in Bitcoin. If this step is taken correctly, it can reduce the possibility of investors being deceived. After all, with the rise of Bitcoin, there are countless trading platforms on the market, including some irregular ones.