‘How to Buy Bitcoins?’

Bitcoin is the most popular cryptocurrency in the world. Many huge fortunes have been made in the cryptocurrency market. It is very unique, with spectacular price fluctuations that are practically unheard of in traditional markets. The price of Bitcoin can fluctuate significantly even within a single day. This presents great opportunities for quick profits, but also the risk of losing a lot. The vision of an easy way to make money attracts many people to invest in Bitcoin on a daily basis, and the cryptocurrency market also tempts many new investors. For someone new to this world, the question naturally arises: how to buy Bitcoin in Poland, online? We will try to explain in a simple and understandable way what cryptocurrency exchanges and cryptocurrency wallets are, how to use them, and how to buy Bitcoin.

Where to buy Bitcoin?

If you want to start investing in Bitcoin, the first thing you need to do is secure a place to store it. Purchased cryptocurrencies are stored in special cryptocurrency wallets. These are virtual addresses consisting of a string of characters (public key) and a second string of characters called the private key, which provides additional security. A cryptocurrency wallet is the first thing you need to get. There are several ways to do this, and you need to choose the one that is most suitable for you. Some are easier, while others are more secure.

Online cryptocurrency wallet

The easiest way is to use a virtual wallet offered by various online services. You can easily find such a wallet through a search engine, and after creating an account, you will receive a wallet address to which you can transfer your purchased bitcoins. However, despite being the simplest solution, it is not the most secure, as it involves to some extent giving access to our online wallet, which always carries some risk.

Hardware wallets

The second, much safer solution is to use a hardware cryptocurrency wallet. This is a device the size of a USB flash drive where you can store your bitcoins. The drawback of this solution is the cost of the device, which starts at several hundred zlotys. This solution is generally more suitable for larger traders. For beginner investors, we recommend the third solution.

Paper wallet for Bitcoin

The third, cheapest and very secure solution is to generate your own Bitcoin wallet address and write down its details on a piece of paper. In this case, the biggest risk is the possibility of losing the paper with the access details to the wallet. Unfortunately, if we lose it, it becomes practically impossible to recover the funds. Therefore, if you decide to create such a paper cryptocurrency wallet, it is best to write down the details on multiple pieces of paper and store them in several secure locations. A BTC wallet consists of a public key and a private key. The public key is a special string of characters that serves as the address of our wallet, which can be given to someone to send us currency. The private key, on the other hand, is our secret password used to access the wallet. It should not be shared with anyone, as a person who knows the private key can make Bitcoin transfers. If it falls into unauthorized hands, someone can simply transfer our bitcoins to themselves. In general, a paper wallet allows for safe and free storage of cryptocurrencies.

How to create a paper wallet for storing Bitcoin

To create a paper wallet for storing Bitcoin, you need to generate the address of your wallet and the private key. To do this yourself on your own computer, you need to download a special program that will use random movements of your mouse to generate the address of your Bitcoin wallet using a special algorithm. To do this, download the Bitaddress.org program (link to the GitHub repository where you can download it: [link]). You can also use the bitaddress.org website, which is easier, but you are still connected to the internet. Downloading the program locally is a more secure solution.

To fully safeguard yourself, it is best to disconnect your computer from the internet while generating the address and private key. Download the program, disconnect your computer from the internet, and run the program (it is an .html file) in your browser. After launching it, move your mouse until the counter reaches 100%. Once it reaches 100%, two codes labeled SHARE and SECRET will appear on the screen. The code labeled SHARE is the address of our wallet, which can be given to someone to deposit funds. The string of characters described as SECRET is the private key, which must never be shared with anyone.

Write down the generated wallet address and private key very carefully on a piece of paper and store it in a very secure place. It is best to keep such a paper in multiple copies and store them in several secure locations. The biggest risk with paper wallets is losing the paper with the recorded public and private keys.

Where to buy Bitcoin safely with Polish zloty?

The most important thing is to buy cryptocurrencies safely, without the risk of losing the funds deposited with a particular institution, or even worse, the risk of hacking our bank account by obtaining credit card or online banking login information while infecting our mobile device used for authentication. That is why we encourage you to use only trusted sources such as major cryptocurrency exchanges. Practically every exchange allows you to buy Bitcoin, as it is the most popular cryptocurrency in the world. It is worth checking the cryptocurrency exchange rankings and user reviews of a particular exchange before making any deposits. There are also cryptocurrency exchange offices on the market, but they usually have worse exchange rates than those available on exchanges.

Cryptocurrency exchanges

The best way to buy cryptocurrencies, including Bitcoin, is through cryptocurrency exchanges. Cryptocurrency exchanges allow for the safest way to purchase Bitcoin and other cryptocurrencies. There are many exchanges of this type on the market. Some are larger, with billion-dollar turnovers, while others are smaller and local. We personally recommend using only trusted, large exchanges. Unfortunately, there have been cases where cryptocurrency exchanges have collapsed and their users have lost the funds held in their sub-accounts. Interestingly, this also happens with large exchanges. An example is the famous collapse of FTX, the third-largest cryptocurrency exchange in the world. So even a cryptocurrency exchange ranking would not help in this case. How can you protect yourself from such a scenario? Do not keep purchased cryptocurrencies on the exchange. To do this safely, transfer the purchased bitcoins and other cryptocurrencies from the cryptocurrency exchange to your wallet. An exchange is a place where you trade cryptocurrencies, depositing currency to sell and withdrawing it after making a purchase. Everything held in sub-accounts on an exchange in the event of its collapse can simply be lost forever. The same applies to standard currencies such as zloty, euro, or dollars. On the exchange, you can sell cryptocurrencies by exchanging them for fiat currency. We recommend withdrawing all funds from the exchange after selling cryptocurrencies.

 

Polish cryptocurrency exchange Zonda, largest Binance

The largest cryptocurrency exchange in the world is Binance. However, we recommend using a cryptocurrency exchange with Polish roots called Zonda Global (Account setup takes a few minutes). If this article has been helpful to you, we would be grateful if you use this referral link [link].

Initially, in 2014, it was called Bit Bay. Bit Bay was founded by a Pole, Sylwester Suszek. In 2021, it changed its name to Zonda Global. It is one of the largest exchanges in the European cryptocurrency market. Zonda has a mobile application for real-time cryptocurrency purchases and a fully functional website that allows for trading directly through the browser. Both the mobile and browser versions are fully available in Polish. Click here to visit the Zonda website and start trading today.

Bitcoin exchange with transfers from Polish bank

A major advantage of Zonda exchange is the ability to deposit funds in Polish zloty through a regular bank transfer – from our Polish bank account to the exchange account in Poland. We do not need to link a credit card. This is a secure solution because we can make a transfer for a specific amount and not disclose our credit, debit, or credit card information to the exchange. In our opinion, providing credit card information is less secure.

The largest exchange, Binance, also allows you to buy Bitcoin and other cryptocurrencies in Polish, but currently deposits are only possible by linking a credit or debit card. In our opinion, a credit card is always a less secure solution than a regular bank transfer. Both Binance and Zonda require identity verification, known as “know your customer” or “KYC.” This involves confirming our identity by submitting a photo of an identification document. The KYC procedure is mandatory, and exchanges are obliged to comply with it and verify the identities of their users.

After creating an account on a cryptocurrency exchange, you can check the cryptocurrency exchange rates and start making your first transactions, meaning buying cryptocurrency. After depositing your funds, you can select a specific pair of cryptocurrencies and fiat currencies, such as BTC/PLN for bitcoin and Polish zloty, where you can exchange zloty for bitcoin and sell bitcoin in exchange for zloty. After exchanging zloty for bitcoins, the purchased bitcoins will be deposited into your sub-account on the exchange, from where you can either exchange them back for zloty or another cryptocurrency or withdraw them to your BTC wallet. Once again, we emphasize that we recommend withdrawing any accumulated cryptocurrencies from the exchange and not keeping them there like a bank account or crypto wallet. The exchange should only be used for buying and selling cryptocurrencies.

We wish you success in the world of virtual currencies. Also, remember about the risks associated with investing and never invest more than you can afford to lose. This article is not investment advice and is purely informational. The information provided in the article is accurate as of January 27, 2023.

zondacrypto - Największa Polska giełda cyfrowych walut

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