Buy and Sell Bitcoin using fiat currencies
Bitcoin has the potential of offering high returns on investment (ROI). It is due to the current volatility of the cryptocurrency market that investors can capitalize on. This mostly works in its favour but also adds a few challenges the investors at times in terms of risk and lack of trust in the crypto platforms that facilitate conversion from fiat currencies to crypto and vice versa. Through these platforms, users can purchase or sell using fiat currencies like USD, EUR, AED, SAR etc., all you need to do is open an KYC fulfilled account with the trading platform and link your bank account or Credit Card to it. These platforms also allow you to even exchange one type of crytocurrency into the other. Investors can buy or sell Bitcoins using fiat currencies through the methods mentioned below.
- Crypto brokerages like finex.me – These work like traditional forex brokers. Users can buy or sell Bitcoins using fiat currencies at a price fixed by the broker.
- Crypto exchanges like Kraken- Here users can place a “buy” or a “sell” order without any direct interaction with each other. Users can only interact with the exchange and use fiat currencies to buy or withdraw their digital assets.
- Peer to Peer (P2P) platforms like LocalBitcoins- These platforms act as a meeting point for buyers and sellers. Buyers and sellers can mutually agree on a price and make payment in hard cash, fiat currencies or even PayPal.