Do you find it complicated to buy Bitcoin or other cryptocurrencies?

It's actually very simple! This site tells you everything you need to know to buy and secure bitcoins and other cryptocurrencies easily!

You can directly access the part you're interested in by clicking on the sections below:

Our recommendations to get started quickly:

Introduction to cryptocurrencies

What is cryptocurrency?

The cryptocurrency is a currency of exchange like the Euro or the Dollar.

You can buy goods and services in cryptocurrency.

However, it differs from these currencies in several respects:

• It has no physical representation. It's a virtual or digital currency. You don't own a cryptocurrency coin or banknote.
• It is generally not created by a central authority, making it theoretically immune to government interference and manipulation. It is said to be decentralized.
• It is exchanged peer-to-peer without intermediaries and transactions and balances are published on a public and decentralized database (or register) called the "Blockchain"
• It is secured by cryptography which makes counterfeiting almost impossible unlike counterfeit notes that can circulate in the monetary system.

The most well-known cryptocurrency is Bitcoin (BTC) but we can also cite Ether (ETH) which is the second cryptocurrency in terms of capitalization.

Read more: see the article "What is cryptocurrency?"

What is Bitcoin?

Bitcoin was created in January 2009 by a person or group of people whose identity we will never know and using the pseudonym "Satoshi Nakamoto".

It is the cryptocurrency with the largest capitalization in the world.

Bitcoin offers the promise of cheaper transactions in fees than traditional banks and especially the promise of a free currency not controlled by governments because it is operated by a decentralized authority.

The value of Bitcoin has been very volatile since its inception. She reached her first ATH (All Time High – Highest Level) in December 2017 with a token at $19,498 and surpassed it in November 2020 by reaching $19,832. Then more recently in early 2021, the value of Bitcoin reached $42,000.

Why buy cryptocurrency?

Buying cryptocurrency is simply a way to diversify your wealth and easily send or receive money without constraint.

Here are the pros and cons:

Benefits:

• Cryptocurrencies are not dependent on central banks, which protects them from manipulation and bans on use
• These are concrete and effective alternatives to the traditional banking system because they allow money to be exchanged globally, quickly, without intermediaries, with reduced fees and without caps or minimums.
• They are designed for the Internet, which makes them almost impossible to stop because all The Internet would have to be blocked or broken down
• There is total transparency of transactions, which makes it possible to be sure that the buyer has the required balance on his wallet for the property he must buy for example

Disadvantages:

• The value of cryptocurrencies is very volatile, it can vary up or down from 30% to 40%
• Cryptocurrencies are not yet very democratized, making their use quite limited currently outside the Internet

What is a cryptocurrency wallet?

When we talk about cryptocurrency, it is necessary to understand what a cryptocurrency portfolio is or more commonly called "Wallet".

A cryptocurrency wallet is a secure digital wallet that is used to protect your cryptocurrencies. Specifically, it protects your private key because your cryptocurrencies are hosted on the Blockchain.

It is made up of two elements:

1. A public address: it is your ID, a kind of RIB, that you communicate to people so that they can send you cryptocurrency.
2. A private key: it's the equivalent of your credit card code, it's necessary to get funds out of your wallet. You must never communicate it.

Some wallets are designed for a single cryptocurrency, others can be used for many of them. For example, you need a Bitcoin wallet to buy Bitcoin and an Ethereum wallet to buy Ether but also many other cryptocurrencies that work on this Blockchain.

You may have total control over your portfolio or you may have to be forced to delegate it as on centralized exchange platforms.

Total control of your portfolio is materialized by the possession of its private key.

This private key that you are the only one who knows is required to validate a cryptocurrency shipment from your wallet to another portfolio.

There are several types of portfolios: For more information: see the article "Portfolios"

Choosing an Exchange

What is an Exchange?

An Exchange is a platform that allows you to exchange fiduciary currency for cryptocurrencies and cryptocurrencies between them in the case of centralized Exchanges (CEX) or allowing you to exchange only cryptocurrencies between them in the case of decentralized exchanges (DEX).

It's a website or a mobile app.

To be able to buy on a centralized exchange platform, you must register and do a KYC (Know Your Customer) which is an identity check. It is a process in which you are asked to provide a valid ID and take a live photo of yourself to prove that you are the right person and that there is no impersonation.

Payment methods and fees on Exchanges

Once this identity check is done, you can purchase cryptocurrency directly with your credit card or by feeding your account by bank transfer.

Transaction fees are retained during this exchange and vary according to the exchange platforms. Therefore, you have to choose your Exchange to limit these costs, which are calculated on a percentage of the transaction carried out. Bank transfers are cheaper or free but are slower.

Warning: some banks block payments to exchange platforms.

If this is the case with your bank, really consider switching banks because no one should tell you what you owe or you should not buy with your money.

We recommend the Boursorama online bank.

The security of the Exchange

Before choosing an Exchange, make sure it has a good level of security and also offers security features to protect your account.

To consider an Exchange as serious, it must have been audited by third parties on security standards and offer at least multi-factor authentication to protect your account.

Comparison of Exchanges

Here is the list of centralized Exchanges that we have validated and recommend:

Steps to buying cryptocurrencies

You've never bought a cryptocurrency and you're wondering how to do it?

No problem! We explain step by step the different steps to buy cryptocurrency below:

How do you secure your cryptocurrencies?

To secure your cryptocurrencies, follow the following best practices:

Be the owner of your private keys

"Not Your Keys, Not Your Coins" – You don't own your private keys so you don't own your cryptocurrency.

Choosing to store your cryptocurrency on an exchange platform is a risk to be measured. Although exchange platforms are regulated, audited, certified, insured, 100% security does not exist.

Several exchange platforms have already been hacked. The cryptocurrency they stored for their client was stolen by the hackers and sent to their wallets. Because transactions are irreversible, it is impossible to recover the loot and hackers are very difficult to identify and apprehend.

If the exchange platform is not reimbursed by the insurance or if it does not provide a reserve fund for this type of incident, then you will only have your eyes to cry. In fact, when you sign up for the exchange platforms, they absolve themselves of this responsibility.

Do not disclose your private keys and passphrases under any circumstances

Your private keys are used to validate a cryptocurrency shipment from your wallet. If someone else knows her, then they will be able to make transactions without your consent. Once a transaction is completed, it is irreversible.

No one will ever ask for your private key. No one!

If someone asks you, it is an attempt to steal your cryptocurrencies.

Your passphrase allows you to restore your wallet if you've ever lost it. If someone other than you comes into his possession, he becomes master of your portfolio.

Have a Wallet hardware to store your private keys and protect your passphrase

There are several types of wallets but the most secure are the Cold Walets because they are not connected to the Internet.

In the Cold Wallets category, it is advisable to choose a Hardware Wallet.

A Hardware Wallet is a small device with a screen and keys that is used to generate your public address and store your private key. So when you want to do a cryptocurrency sale or exchange action, you have to physically approve it on this small device. This means that someone who doesn't have access to your Wallet Hardware won't be able to steal your cryptocurrencies.

Here's a comparison of the best Hardware Wallets on the market:

When you start your Wallet Hardware, a passphrase will be generated. It's a 24-word suite that you need to write down and store carefully. This passphrase allows you to restore your wallet to another Hardware Wallet if you ever lost your Wallet Hardware. Don't share it with anyone.

Warning: Use the links above to make sure you buy your Hardware Wallet directly from the manufacturer.

Don't buy Hardware Wallet on Amazon, Leboncoin or Ebay as they may have already been booted and you wouldn't be the only one who knew about the passphrase. Also check when delivery that it is properly sealed.

Use a different password on each exchange platform

You may already know this, but you need to use a different and complex password for each site you're signing up for.

If you don't do it and one of the sites you're registered on is hacked, then all accounts you've used the same password for are compromised.

Remembering the password of each account is humanly not possible.

In order to facilitate the management of these passwords, it is highly advisable to use a password manager.

Here's a list of the best-known password managers you can use:

• Lastpass
• DashLane
• Bitwarden

Enable dual-factor authentication on exchange platforms

Even if you have a hardware wallet to store your private keys, you must use an exchange platform to buy cryptocurrencies. Often, your credit card is registered there to make it easier to purchase.

Dual-factor authentication is a method that adds a layer of protection to your account.

In addition to your login and password, you receive a code via SMS or in an app that you need to provide to prove that you are the one who connects to your account.

The best-known free dual-factor applications are:

• Google Authenticator
• Microsoft Authenticator

Avoid scams and PIRATAGES

Check out the AMF blacklist

The Financial Markets Authority lists the players on the blacklists, having been the subject of a warning issued by the Financial Markets Authority and/or usurping a regulated player.

See the AMF blacklist

Fake Exchanges or Fake Mobile Apps

These are copies of legitimate sites or legitimate applications.

Before you provide your credentials on a site, check the URL of the site and do not log in to an Exchange if you are on a public WIFI without first turning on your VPN.

Before you download a mobile app, make sure it's the official app, making sure the one who released the app is the right one.

False pre-sales

New cryptocurrencies are being created all the time. Sometimes you can participate in a "fundraiser" to facilitate the development of this cryptocurrency. It's called a "Raindrop." It's perfectly legal. During a Raindrop, you have the option to buy tokens from this new project at a discounted price during a pre-sale.

This attracts scammers who make fake giveaway. In reality, you will never receive the tokens.

So to protect yourself from this, it is essential to learn about the seriousness of the project.

Social media phishing

This can be a fake social network account that attempts to usurp the identity of a person who has a high level of public authority.

For example, this fake account publishes a post asking to send a sum of cryptocurrency to a public address of a cryptocurrency portfolio, promising that it will return twice the amount. Which he will obviously never do.

But it can also be a real account of a personality who has been hacked and who spreads this kind of message. It happened in 2020 on Twitter! The accounts of Elon Musk, Joe Biden, Barack Obama, Kanye West and Kim Kardashian were hacked and more than 15 bitcoins were recovered by the hackers.

Don't get it. Humans are generous, but some things are too good to be true.

Finally, it can also take the form of spoofing a support account from an Exchange platform.

Copy-and-paste malware

This type of malware can replace the data you copied and pasted that are stored in your paperweight.

Their goal is to replace the address with theirs when what you want for example fare a withdrawal of an Exchange platform and send it to your cryptocurrency portfolio or simply send cryptocurrency to someone.

Be careful and check all the characters in the destination address before validating the transaction.

To avoid them, install only apps that you have uploaded to official sites that you trust.

Phishing emails

These are emails you receive whose technique is to ask you to download an app update or quickly log in to your account via a link in the email to avoid losing your funds.

The theme used is often urgency or reward.

Don't fall for it:

⇒ Check the issue address

⇒ Check the Ortograph

⇒ Check the link by flying over it with your cursor

⇒ Don't open attachments if you have any doubts

⇒ Activate anti-phishing code on platforms that offer it

⇒ Contact Exchange Support if in doubt

The Pyramids of Ponzi

Before investing in a cryptocurrency, find out because many cases of Ponzi schemes have been identified in the world of cryptocurrencies.

A Ponzi scheme is a strategy that yields returns to older investors with new investors' money.

But this is not a system that has appeared with the birth of cryptocurrencies. It is a system that has been around for decades and has been applied to cryptommaies to take advantage of the credulity of some investors.

Ransomware

Ransomware is malware that, once it has infected a device, will make the data unreadable by encrypting it. In order to regain access to this data, the creator of Ransomware will ask you for a ransom.

This can be very serious for you if you have sensitive information like your password manager's database, a private key to a wallet, … You can lose access to your cryptocurrencies!

To protect yourself from it:

⇒ Keep your operating system and apps up to date

⇒ Install an antivirus

⇒ Be vigilant before clicking on attachments or links in emails you receive

⇒ Make regular backups on an external hard drive so you can restore them if you are infected

Frequent questions