Topic: Best way to buy 1 Bitcoin (Read 108 times)
Those who can afford to buy bitcoins right now can invest in buying bitcoins. We can see that the price of Bitcoin is increasing by 2021 1Millions of dollars will be surpassed.So I would say those who can afford it right now should buy Bitcoin as much as you can without delay.Otherwise you will regret it a lot but you will not get a chance to buy bitcoin.
I'm not buying BTC using fiat, or even USDC ( I guess I should have specified that in my first post ). I'm basically trading my ALT Coin gains into BTC. I was early on Matic, Solana, Theta and a few other ALTS so I am looking to dump all my gains into BTC when the time is right.
Actually, you can go to Coin Market Cap in order to know where exchanges are listing those coins.And from the market lists on Coinmarketcap, you can compare each exchange.
I think that those coins are also listed on the Binance exchange. Have you tried Binance?
but Binance needs KYC, and because you are a non-USA citizen, it is actually easy enough to register on Binance.
But if you are not willing to do KYC, yes OKEx is a good recommendation.
ANd be careful with the new exchange moreover dex that has a low reputation or scammers.
Yes, you can buy wrapped btc on decentralized exchange.. Wrapped btc (WBTC) which is like bitcoin that is wrapped in the version of that blockchain. You can buy via pancakeswap, serum and some other decentralized exchanges with low fees.
I guess KYC verification should be the reason why the exchange you use limits the numbers of btc you can purchase a day despite the fact you have the currency to afford more. But if that be the case then you should go for exchanges that doesn't require KYC verification such as OKEX here you can purchase as much as your currency can afford.
To buy 1 BTC you should choose some best peer to peer (P2P) Crypto exchanges.
You can try many Decentralized crypto exchanges with higher liquidity and lower Transection fees.
There you will be able to buy 1 BTC without any verification and without the need for an intermediary.You will find some best p2p platforms with their details in this Article.
You can try many Decentralized crypto exchanges with higher liquidity and lower Transection fees.
There you will be able to buy 1 BTC without any verification and without the need for an intermediary.You will find some best p2p platforms with their details in this Article.
Jawadu, are you using the default Metamask Wallet ? I'm no Metamask expert but I think the idea is to use the cheapest DEXs instead, and as I said I think some people are using Serum which is built on Solana or DEXs built on Harmony One, because of the extremely low transaction fees. Even the Exodus wallet has a token swap but their fees aren't that cheap.
I've gotta admit I've never heard of BISQ, but I'll look it up.
Bisq is a real p2p trading platform where you can buy bitcoin with no KYC but they have some weird criteria when we are buying bitcoin which is like we need to have certain amount of cryptocurrency in our wallet depends on how much we are buying so it makes less convenient for the people most of the time. If you are okay with KYC then go for LBC where you can even buy few hundreds of BTC in the single purchase as long as your bank allows to make such huge transaction. 
Apart from some features, trading ERC20 tokens in DEX is a disaster if comparing fees with CEX, that's why it is better to use both CEX and DEX.
Maybe you can expand on that ? Do you mean trading fees for ERC20 tokens in CEX are way lower ? So if I'm trading LINK for BTC, I'm better off with a CEX ?
I have said that because there are some tokens that I have in Metamask and in fact I have been disappointed for a long time because of the swap fee. Take a look at an example of this token, I have 7110 CTRO which is worth 0.0033695067 ETH but its swapping fee is over $150 !!! But the same token "CTRO" I trade it for a fee of 0.2% on CEX which is the BigOne exchange! So fees I think are the biggest challenge for DEX, especially for ERC20 tokens.
Apart from some features, trading ERC20 tokens in DEX is a disaster if comparing fees with CEX, that's why it is better to use both CEX and DEX.
Maybe you can expand on that ? Do you mean trading fees for ERC20 tokens in CEX are way lower ? So if I'm trading LINK for BTC, I'm better off with a CEX ?
I've been using CEX for a while now, I find many of the features are quite useful actually, but since getting a hardware wallet, I think I want to go with using a DEX now. Also, at this stage in the game I should be staking and using Metamask I think.
Other reason I would want to use a DEX is to access a greater range of tokens. My current CEX only offers 150 or so, and it's missing many of the gaming cryptos like Star Atlas, Illuvium, Efinity and other non gaming cryptos like Monero and Celsius.
I've gotta admit I've never heard of BISQ, but I'll look it up.
How about Bisq?
This is a decentralized exchange and also an open-source exchange. You can buy more bitcoin as much as you want and I think there is no limit for them because that is P2P exchange which is everyone selling and buying bitcoin. The fee is about 0.05% to 0.70% and I think that is not bad at all.
If you will use a centralized exchange and buy bitcoin that huge amount, it is a red flag to them and maybe your account will be put on hold to them and they will investigate for the possible laundering happen.
This is a decentralized exchange and also an open-source exchange. You can buy more bitcoin as much as you want and I think there is no limit for them because that is P2P exchange which is everyone selling and buying bitcoin. The fee is about 0.05% to 0.70% and I think that is not bad at all.
If you will use a centralized exchange and buy bitcoin that huge amount, it is a red flag to them and maybe your account will be put on hold to them and they will investigate for the possible laundering happen.
Thanks Jawadu, I will check that out. The KYC would be the only downside for me,
Welcome, buddy.KYC is really a challenge for many, but it is good to strive to complete KYC even on one big CEX because for a trader capable of buying 1 Bitcoin as you, it is good dealing with both CEX and DEX in different times and currencies.
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If I had to choose between a centralized exchange with KYC and a DEX without KYC, but with only fractional BTC options, I guess I would choose the DEX,
DEX is good, but you'll miss many features from CEX. Apart from some features, trading ERC20 tokens in DEX is a disaster if comparing fees with CEX, that's why it is better to use both CEX and DEX. 
OKEX is definitely the way to go then. No KYC is required, it supports both Polygon and Solana networks and also the lightning network for BTC in case you want to withdraw with that, so you'll basically be doing this whole thing with almost no cost at all. The limits are not something you should be worried about either, you can withdraw up to 10 BTC per 24 hours.
Thanks Jawadu, I will check that out. The KYC would be the only downside for me, as that's what my local centralized exchange does. I guess Binance also has KYC so it's probably unavoidable. If I had to choose between a centralized exchange with KYC and a DEX without KYC, but with only fractional BTC options, I guess I would choose the DEX, as buying BTC in fractions is still good as long as they don't set weekly limits like my current exchange does.
First of all, as you are advised in the first comment is absolutely correct! You can buy Bitcoin in large quantities from Paxful because I have been using it for over two years now so I know it well.
I have also been using the Gate exchange for a long time now, they need you to complete KYC but they have very strong security that I am confident putting more of my capital on the Gate exchange than even in Binance! If the Gate exchange supports your country then try to open an account there, you will buy 1 Bitcoin very easily with just one trade!
Edit: Paxful and Gate exchanges both allows you to buy Bitcoin with Altcoins, so don't worry
I have also been using the Gate exchange for a long time now, they need you to complete KYC but they have very strong security that I am confident putting more of my capital on the Gate exchange than even in Binance! If the Gate exchange supports your country then try to open an account there, you will buy 1 Bitcoin very easily with just one trade!
Edit: Paxful and Gate exchanges both allows you to buy Bitcoin with Altcoins, so don't worry
I'm not buying BTC using fiat, or even USDC ( I guess I should have specified that in my first post ). I'm basically trading my ALT Coin gains into BTC. I was early on Matic, Solana, Theta and a few other ALTS so I am looking to dump all my gains into BTC when the time is right. I am trading from outside of the US, so not many restrictions where I am other than the ones I mentioned. I rather use a decentralized exchange as I want to get away from centralized exchanges at this point, the way things are it just makes little sense to move from one centralized exchange to another if there are other options. Paxful sounds good, but the $50K limit means I won't be able to buy 1 whole BTC, which is what I want. My BTC and Ethereum currently make up only 10% of my portfolio so I've got to fix that imbalance soon.
I've heard some traders are using Metamask to access DEXs on Harmony One or Solana. Has anyone tried that ?
I've heard some traders are using Metamask to access DEXs on Harmony One or Solana. Has anyone tried that ?
I'm not sure why would want to use any of the blockchains you mentioned if you're going to buy BTC using fiat?
Now for buying, it would be better if you could share your location, that way we can suggest a few exchanges but assuming that you've tried Coinbase, Coinmama or CEX.io, then using Paxful could be a good idea. From what I can see here[1] you can trade as much as you like, as long as you don't exceed 50K$ per trade. It can be a hustle since you will have to trade with different individuals to finish with the whole amount, but it can be a good solution, in case you don't find any other alternatives.
[1] https://paxful.com/support/en-us/articles/360011638919-Limits-and-Verification
Now for buying, it would be better if you could share your location, that way we can suggest a few exchanges but assuming that you've tried Coinbase, Coinmama or CEX.io, then using Paxful could be a good idea. From what I can see here[1] you can trade as much as you like, as long as you don't exceed 50K$ per trade. It can be a hustle since you will have to trade with different individuals to finish with the whole amount, but it can be a good solution, in case you don't find any other alternatives.
[1] https://paxful.com/support/en-us/articles/360011638919-Limits-and-Verification
Hello group,
I know you can buy Bitcoin in many centralized as well as decentralized exchanges, and even in other ways. My question might be due to inexperience ( I'm a relative newbie to the game ) but my local centralized exchange only lets me buy Bitcoin in fractions. Last time I tried to buy the largest fraction of a Bitcoin I could buy was 0.25 . So even if I had enough funds to buy 2 Bitcoin, all I could buy was 0.25 BTC . There was the option of buying another 0.25 BTC after that, but there was a weekly limit, which probably made it impossible to buy more than 0.50 BTC in a week. So going back to my question, where can I buy a whole BTC or more at a time ? Any of the popular decentralized exchanges offer that ?
I have access to FTX and Exodus ( with the token swap ), but I would prefer the option with the cheapest transaction fees and fastest speed possible, so probably something like Serum or anything running on Solana, Harmony One, Polygon Matic or Binance Chain. Uniswap probably a non-option because of the high transaction fees.
Thanks in advance !
I know you can buy Bitcoin in many centralized as well as decentralized exchanges, and even in other ways. My question might be due to inexperience ( I'm a relative newbie to the game ) but my local centralized exchange only lets me buy Bitcoin in fractions. Last time I tried to buy the largest fraction of a Bitcoin I could buy was 0.25 . So even if I had enough funds to buy 2 Bitcoin, all I could buy was 0.25 BTC . There was the option of buying another 0.25 BTC after that, but there was a weekly limit, which probably made it impossible to buy more than 0.50 BTC in a week. So going back to my question, where can I buy a whole BTC or more at a time ? Any of the popular decentralized exchanges offer that ?
I have access to FTX and Exodus ( with the token swap ), but I would prefer the option with the cheapest transaction fees and fastest speed possible, so probably something like Serum or anything running on Solana, Harmony One, Polygon Matic or Binance Chain. Uniswap probably a non-option because of the high transaction fees.
Thanks in advance !
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