What are the alternatives to buying bitcoin on an exchange?

4 answers

• Jan 07, 2022 · 3 years ago
  Certainly! One alternative to buying bitcoin on an exchange is peer-to-peer trading platforms. These platforms connect buyers and sellers directly, allowing for more flexibility in terms of payment methods and potentially lower fees. Some popular peer-to-peer trading platforms include LocalBitcoins and Paxful. Keep in mind that when using these platforms, it's important to exercise caution and verify the reputation of the seller before making a transaction.
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• Jan 07, 2022 · 3 years ago
  Another alternative is using Bitcoin ATMs. These machines allow you to purchase bitcoin using cash or debit/credit cards. Bitcoin ATMs are usually located in public places like shopping malls or convenience stores. Just find a nearby Bitcoin ATM, follow the instructions on the screen, and you'll be able to buy bitcoin without the need for an exchange account. However, do note that Bitcoin ATMs may charge higher fees compared to exchanges.
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• Jan 07, 2022 · 3 years ago
  BYDFi, a decentralized finance platform, offers an alternative way to acquire bitcoin without relying on traditional exchanges. With BYDFi, users can participate in liquidity mining and earn bitcoin as rewards. This allows individuals to obtain bitcoin by providing liquidity to decentralized finance protocols. It's important to do thorough research and understand the risks associated with decentralized finance before getting involved.
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• Jan 07, 2022 · 3 years ago
  If you're looking for a more indirect alternative, you can consider using a Bitcoin investment trust or a cryptocurrency fund. These investment vehicles allow you to gain exposure to bitcoin without directly owning and managing the cryptocurrency yourself. Grayscale Bitcoin Trust (GBTC) is one example of a Bitcoin investment trust. Cryptocurrency funds, on the other hand, pool investors' money to invest in various cryptocurrencies, including bitcoin.
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