Bitcoin has existed since 2009 and has only grown in popularity with the general public. Many wonder about the best way to acquire this cryptocurrency without taking unnecessary risks. Security concerns are understandable: between volatility, centralized exchanges, hacking, and various scams , properly protecting one's funds can seem complicated. However, it is entirely possible to buy BTC reliably and securely. Solutions exist, and everyone can find the approach that suits them best.
Acquiring bitcoins through a centralized exchange (also called a trading platform) remains the simplest and most accessible solution for a beginner. All you need to do is create an account, complete identity verification (KYC), and then purchase the desired amount of BTC . Contrary to what some might think, it's not necessary to buy an entire bitcoin: you can easily start with the equivalent of 50 or 100 euros and become a holder of "fractions" of BTC.
This method of purchasing cryptocurrency is similar to using a traditional bank: you send your fiat currency ( euros , dollars, etc.) to the platform, which then converts these funds into cryptocurrency. Centralized exchanges often provide access to support services to guide users through their first steps. According to a 2022 study by Crypto.com , nearly 300 million people worldwide hold digital assets, and a large majority of them started through a centralized platform. It's an essential entry point for exploring the ecosystem.
Several major players in the market make it easy to buy bitcoins . Among the main ones are Binance , OKX , and Coinbase . These platforms enjoy significant renown, particularly due to their high daily transaction volumes and large user base.
Binance : A global leader in terms of trading volume. It offers a diverse range of cryptocurrencies, advanced trading interfaces, and ancillary services ( staking , farming, etc.). Two-factor authentication (2FA), regular security audits, and the SAFU (Secure Asset Fund for Users) provide peace of mind.
OKX : A globally recognized cryptocurrency exchange platform that allows users to buy, sell, and trade a wide range of digital assets. OKX implements several robust security measures to protect its users' funds, such as cold-storing the majority of assets offline to reduce the risk of hacking and using multi-signature wallets to secure transactions. OKX also regularly publishes Proof of Reserves based on cryptographic techniques, which aim to demonstrate that client holdings are fully backed by reserves held by the platform, thereby enhancing transparency and trust. Furthermore, its operations are subject to European regulatory obligations through OKX Europe Ltd, which mandates the legal segregation of client funds and increased oversight.
Coinbase : Based in the United States, Coinbase is appreciated for its clean interface and simplicity. It is often the first contact with cryptocurrency for many Western users. The company is publicly traded, which implies a certain level of accounting transparency.
The three platforms – Binance, OKX, and Coinbase – are licensed or operate in multiple jurisdictions under strict regulatory regimes, meaning they are subject to compliance and security obligations. In Europe, this regulation notably mandates the separation of client funds from company funds, thus reducing the risk that financial problems at the exchange will directly impact users.
In addition to this regulation, they implement external audits and Proof of Reserves (PoR) to ensure transparency. At Binance, the PoR is updated regularly and accessible to users. OKX also publishes PoR reports that attest that users' assets are backed at a ratio of 1:1 or higher by the reserves held by the platform. Coinbase uses independent auditing firms to verify that it holds all of its clients' funds.
Thanks to these enhanced security measures, users benefit from increased protection against risks related to liquidity crises and internal mismanagement.
More information about the rewards can be found here.
Although centralized platforms take many precautions, user vigilance remains a key factor. To learn how to buy bitcoins safely , here are some concrete recommendations to maximize the security of your digital assets:
Two-factor authentication (2FA) : This feature adds an extra layer of protection. Even if a password is compromised, a hacker will not be able to access your funds without the 2FA code generated by your security app.
Use unique and complex passwords : Avoid using the same password on multiple sites. A password manager can be very useful for creating and storing them.
Phishing : Be wary of suspicious emails or messages. Always verify the official website address and the consistency of the content before entering your login information.
Whitelisted withdrawal address : Some platforms allow you to define a "whitelist" of authorized withdrawal addresses. This way, even if your account is compromised, it will be impossible for a hacker to transfer your bitcoins to an unknown address.
Identity verification ( KYC ) : Completing the KYC strengthens mutual trust. Businesses are more likely to help you if you have a problem if your account is verified.
Some users believe that, even with all these guarantees, centralized exchanges remain a point of vulnerability. The fear of the operator defaulting or being exposed to a scandal is prompting some investors to turn to fully decentralized solutions. Buying bitcoins bitcoins "on the blockchain" means that you will hold your own private keys and that no one will be able to block your access to your funds.
For most beginners, this process may seem less intuitive, as it requires a basic understanding of how the Bitcoin network works and how to set up a wallet. However, this approach offers complete control and eliminates reliance on a third party. If a centralized exchange ever goes bankrupt, your BTC stored in your decentralized wallet will remain unaffected.
The phrase "Not your keys, not your coins" perfectly encapsulates the issue. When you leave your bitcoins on an exchange, the platform holds the access keys to the blockchain. You are therefore dependent on its solvency. By opting for a decentralized wallet, you take possession of your private keys (usually in the form of a 12- or 24-word seed phrase). This sequence of words is the key to restoring and managing your BTC from any compatible device.
Software wallet (hot wallet ) : This is an application on a computer or smartphone ( Metamask , Exodus, Trust Wallet , etc.). Convenient to use, but more vulnerable to hacking, as the private keys are stored on a device connected to the internet.
Hardware wallet ( cold wallet ) : A physical device ( Ledger , Tangem) that stores private keys offline. Transactions are signed directly on the device, minimizing the risk of theft via malware. It is considered the most secure method for managing large sums of money.
To see more concretely how to use these tools, we invite you to discover the BSM program . The program allows you to understand in depth the workings of the monetary system and Bitcoin, and to develop a more complete mastery of the tools, finance, and legal constraints (taxation, inheritance, etc.) .
It includes detailed video tutorials on centralized exchanges, software wallets, hardware wallets, and best practices. The program can be accessed from the header or the link above.
Centralized platforms aim to reassure users about the risks of bankruptcy or hacking. They emphasize their guarantee funds and reserve audits, but it's important to understand what this actually entails. Past scandals (Mt. Gox in 2014, FTX in 2022) serve as a reminder that even the largest platforms can encounter difficulties. Modern security measures, while effective, are never infallible. Hence the importance of knowing the different solutions available to you.
Proof of Reserves (PoR) is a concept that emerged following the bankruptcies that shook the sector. The idea is to require platforms to provide cryptographic proof that they hold all of their clients' assets in their wallets. When centralized exchanges publish this type of report, they generally use reputable auditing firms, which verify the balances of all addresses associated with the platform. This process strengthens trust in these companies.
Some advanced users compare these reports with blockchain explorers to confirm the data's accuracy. It's recommended to check regularly and ensure your preferred platform continues to generate these proof-of-reserve reports. Periodic external audits also indicate that the company is concerned about its reputation and strives to adhere to industry best practices.
The terms "guarantee fund" and "insurance" frequently appear in the terms and conditions of many platforms. It is crucial to distinguish between these two concepts:
A guarantee fund is a sum of money or cryptocurrency set aside to compensate customers in the event of a hack or internal bug. For example, Binance has implemented the SAFU (Secure Asset Fund for Users) , funded by a percentage of its transaction fees.
Insurance refers to a contract with a third-party insurer that agrees to cover losses under certain specific conditions (maximum limit, type of attack, etc.). If the incident falls outside the scope of these conditions, compensation may be reduced or even nonexistent.
While these mechanisms offer peace of mind, they do not necessarily guarantee a full refund in the event of an exchange failure. For an ultra-cautious investor, part of the solution is to quickly transfer their BTC to a personal wallet as soon as the purchase is finalized. This provides a better balance between accessibility and security.
Investing in Bitcoin offers numerous advantages, both financial and strategic. Bitcoin is particularly distinguished by its ability to withstand inflation , especially during periods of economic instability. Unlike fiat currencies, whose issuance can be unlimited, Bitcoin has a capped supply of 21 million units , making it a scarce asset and more resilient to a loss of purchasing power.
To concretely measure the impact of inflation on your savings over time, you can consult our inflation calculator between two dates , ideal for better understanding the value of an asset like Bitcoin in a long-term wealth management strategy. Furthermore, buying Bitcoin offers the opportunity to participate in the cryptocurrency ecosystem, allowing you to benefit from long-term return potential while deepening your understanding of blockchain technologies.
| Purchase method | Safety advantages | Disadvantages in terms of safety |
|---|---|---|
| Centralized exchange (e.g., Binance, Coinbase, OKX) |
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| Decentralized (non-custodial) wallet |
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| Direct purchase via peer-to-peer (P2P) |
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Cryptocurrency investments are risky. Crypternon cannot be held liable, directly or indirectly, for any damage or loss resulting from the use of any product or service mentioned in this article. Readers should conduct their own research before taking any action and only invest within their financial means. Past performance is not indicative of future results. This article does not constitute investment advice.
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