For Beginners: Easy ways to buy cryptos in Five (5) Minutes

Navigating the world of cryptocurrency as a newbie can be very confusing, but buying cryptocurrencies to build your portfolio is easier than you may think. There are several straightforward and easy ways to buy crypto. This ranges from user-friendly exchanges to accessible mobile apps, amongst many others.

This article will guide you through some of the simplest ways to purchase digital currencies safely, seamlessly, and efficiently. Below are some of the easiest ways an investor can purchase cryptocurrencies.

Cryptocurrency Exchanges

One of the easiest ways to buy cryptocurrencies is through cryptocurrency exchanges. A cryptocurrency exchange is a platform that facilitates the trading of cryptocurrencies. Exchanges usually have different rules about trading, buying, and selling of cryptos.

Investors can choose any exchange of choice, depending on their needs but an exchange with web and mobile interfaces is usually a lot more easier to navigate.

Some Crypto exchanges also offer clients the ability to exchange fiat money for cryptocurrencies as well as the other way around.

Crypto Exchanges often have relatively low trading fees and prices are also based on daily market rates.  It is however important to note that, there are two types of exchanges: centralized exchanges such as Coinbase, Kraken, etc., and decentralized exchanges, which are peer-to-peer (P2P) marketplaces where transactions take place directly between users.

Although the use of decentralized exchanges has surged over the last few years, centralized exchanges still record far more activity.

Traditional Brokers

A broker is a firm or an individual that acts as an intermediary between the investors or users and the cryptocurrency markets. These firms set their own prices and fees and act as financial intermediaries for interested people who want to exchange their fiat money for cryptocurrencies. Online Brokers usually charge a premium for providing this service, and for using their platform.

Cryptocurrency brokers also offer the most suitable environment for newbies in the crypto space, helping eliminate the confusion of the buying and selling process. In the scope of facilitating trades, some crypto brokers also provide the service of storing cryptocurrencies for customers who prefer not to keep their cryptocurrencies using a third-party wallet. Using brokers is one of the easy ways to buy cryptos.

Online brokerages however usually don’t offer a fast range of cryptocurrencies like some crypto exchanges. Examples of brokers include Robinhood, Bitpanda, and eToro.

Crypto ATMs

Crypto automated teller machines (ATMs) are also one of the easiest ways to buy and sell digital currencies. Crypto ATMs are electronic kiosks that allow users to buy and sell digital coins in exchange for cash or with a debit card. According to Statista figures, there are over 30,000 crypto ATMs globally as of January 1, 2024.

All of these crypto ATMs sell Bitcoin, while some may offer other cryptocurrencies. Some crypto ATMs are however limited to crypto purchases only. Crypto ATMs, unlike traditional ones, do not link your bank account but rather connect with the user’s digital wallet to process the transaction.

Crypto ATMs usually have two-factor authentication in place, which requires multiple steps to verify the true identity of a user, bolstering the security of transactions.  The fees involved with crypto ATMs are however high, with some even commanding total fees of 20%.

Payment Apps

Several payment apps, over the past few years, have inculcated the ability to sell cryptocurrencies to their users. PayPal, Google Pay, Zelle, Venmo, and Cash App, in recent years, have all allowed users to buy, sell, or hold cryptocurrencies on their platforms.


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