How can I buy Bitcoin? Learn more about purchasing virtual currencies!
In 2008, no one suspected that an online currency, without any physical counterparts, could achieve great success. Less than a decade later, Bitcoin became one of the most valuable currencies in the world.
At first, Bitcoin was somewhat difficult to buy. Now, one can purchase Bitcoin without major security concerns or high fees thanks from several websites with certificates and recommendations.
Before we show you how to buy Bitcoin, we must emphasize that there are still some scam websites that try to trick you into thinking you are using another, legitimate one, and the usual old frauds, like email phishing, that try to steal your personal details. Only use verified websites, and make sure you know about these common online frauds.
Buying Bitcoin through a Market
One of the most popular ways to buy Bitcoins is through a market; there are plenty of reputable companies to choose from where you can trade Bitcoins with other users. You can buy Bitcoins, or any fraction of one, with your own local currency. You can shop around from a wide range of offers, giving you a chance to get the best Bitcoin deals. This is by far the fastest and cheapest method.
This process has a straightforward registration and checkout, like any other online shop. The exchange rates are set by the free market.
Buying through a Currency Exchange
These companies increase the price of Bitcoin when you buy, and reduce it when you sell. The exchange rate is set by the exchange office, so it is usually less profitable than a market.
No registration is required, and they enable you to withdraw from ATMs without debit/credit card.
Overall, it is a faster and more anonymous service with higher costs.
Simply find a user and exchange assets. Face to face purchases are typically the most profitable.
You can find a seller through various services and forums. With forums, it is crucial to find a legitimate one with verified users. Once you’ve traded successfully, remember to leave feedback for others.
Which payment methods can I use?
All services accept bank transfers and most also take credit/debit cards; Paypal, Skrill, and Paysafe cards are also widely used. When buying from an individual, you can also use cash.
Remember to research digital wallets for each cryptocurrency (e.g. a Bitcoin wallet or an Ethereum wallet), and cold storage devices, which are USB drives dedicated to digital currency. You can keep the latter in a safe or bank deposit box, where it can’t be touched by hackers or burglars.