5 Easy Ways to Buy Cryptocurrencies in 2024

Cryptocurrencies have topped the list of favorite crypto assets among investors for many years, because they have outperformed most other assets. For example, Bitcoin is now referred to as digital gold.

This is because it has performed better than gold in its roughly 15 years of its existence compared to gold in its centuries of existence. This is why many mainstream investors are now considering investing in cryptocurrencies.

Because of their performance, cryptocurrencies also serve as a viable hedge against inflation. As inflation continues to affect fiat currencies such as the U.S Dollar, people are turning to something that brings gains rather than lead to losses. 

Even though cryptocurrencies are volatile, they have over the years proven to be profitable ultimately, and the great thing is that anyone can invest in them from any part of the world. The following are the best ways to buy them.

Peer-to-peer (P2P)

One of the easiest ways to buy crypto is through peer-to-peer (P2P) platforms. These platforms are decentralized, and will allow you to buy and sell cryptocurrencies directly from one person to another without an intermediary.

Another great thing about this method of buying crypto is that it allows you to use a wide range of payment options that are not available on centralized crypto exchanges. This gives you freedom to choose the method that best suits you.

It is also one method that allows you to buy cryptocurrencies using your local currencies. There are hundreds of supported fiat currencies, and you can buy directly from people who use  your currency. If you wish to buy conveniently using local currencies then this is the method for you.

Debit/Credit Cards

The use of debit and credit cards to buy crypto is fast becoming popular among investors. One of the reasons for this is that most people are familiar with the use of such cards for making payments, therefore it’s easy for them to use even as beginners.

Using cards to buy crypto is also faster than other methods. You receive the crypto almost instantly when you use a card, compared to other methods that may take hours or days for the transaction to complete.

However, cards attract higher fees than other methods of buying crypto on exchanges. For example, bank transfer costs nothing on most crypto exchanges, hence it is also popular among users.

Crypto ATMs

Another easy way to buy crypto is by using a crypto ATM. These are usually referred to as Bitcoin ATs, but most of them also support the trading of altcoins like Ethereum and others. All you have to do is find a crypto ATM and go with your physical cash.

You can simply specify how much crypto you wish to buy and then slot the money you brought and supply your wallet address. The crypto will be sent to your wallet shortly. However, you must have a crypto ATM close to you, and the ATM should support the asset of your choice.

Which Should You Use?

All these are great ways to buy cryptocurrencies, but which method you use ultimately depends on your level of experience with crypto and your convenience. If you prefer to buy crypto without leaving any footprints, an ATM is the best option.

However if you’re a beginner looking to buy crypto quickly and easily, using a debit or credit card is the way to go. The transaction is settled instantly, and you use the card the same way you use it to buy anything. If the fees are not a problem, then this works best for beginners.

P2P trading is also perfect for those who wish to buy crypto using their local currencies, but using the platform can be difficult for beginners. An option is to buy directly from a physical friend by giving them physical cash and they sending the assets to your wallet.