Where do I buy & sell Bitcoin?
The way you choose to buy, sell and use Bitcoin will be based on your personal preferences and interests, the country you live in, and your personal goals with Bitcoin. You can find many conflicting opinions of the best ways in which to do this, but it is more a matter of personal preference. What's most important is that you have an understanding of security and how to stay safe, before jumping into any of these methods. Almost all avenues have the potential of risk if precautions are not taken.
All transactions are likely to include some fees. These fees may include a "premium" which is the cost of the service and "transaction fees" which are the costs of sending transactions on the network. Premiums may vary significantly between services, but transaction fees are set out by Bitcoin network. Be sure to be aware of all fees and costs in any type of investment or purchase.
Exchanges allow users to turn their fiat currency into Bitcoin and vis versa. Depending on the exchange, this can be done through wire transfer, Interac online, credit card, PayPal or other methods. Each exchange also caters to different countries, so it is important to find one that serves both your country and your preferred method of payment. Remember: While Bitcoin's blockchain has never been successfully hacked, exchanges are websites that can and have been hacked. That does not make them the ideal place to store your Bitcoin once you have purchased it, since they do not provide you with access to your private key. Purchased coins should be immediately transferred out to your hardware wallet.
Peer to peer refers to buying/selling Bitcoin directly from another person in exchange for fiat currency. The most ideal situation is to buy/sell from someone you actually know, such as a friend, family member or colleague. When this is not possible, you may be able to find someone in your area who is interested in selling/buying some of their Bitcoin to other people in exchange for money. Remember: Trusting strangers to do financial transactions comes with its own set of inherent risks. Always take precaution.
Bitcoin ATMs are popping up everywhere and may seem like a quick and easy way to get Bitcoin; however, in order to use these ATMs you must first have a Bitcoin compatible wallet to send the Bitcoin to.Remember: These machines are generally located in public areas, which bring security risks.