Tuesday, June 19, 2018
Articles

The 3 easiest ways to buy Bitcoin

Looking back four or five years ago, getting your hand on your first Bitcoin could be one of the least interesting things that you may have had in mind especially if your confidence on blockchain technology and cryptocurrencies back then was not as strong as those of diehard early adopters. Before, there were not many exchanges and businesses that accept cryptocurrencies and the public interest is not enough to fuel a huge run. The remarkable volatility of the cryptocurrency market as well as the increasing number of exchanges that offer conversion between cryptocurrencies and fiat money are just some of the reasons that Bitcoin continues to become one of the most in-demand digital assets today.

If you have recently discovered Bitcoin and have fully understood its potential in the future, you may be looking for the easy ways to purchase some. In case you don’t know, you don’t need to buy a whole coin from exchanges as you can always start with a fraction of Bitcoin and slightly accumulate towards an amount that you are comfortable with. Here are the three easiest ways to buy Bitcoin without any hassle.

Bank Transfers

Bank transfers are usually the fastest and most convenient way to buy Bitcoin from various exchanges today. Aside from cheap transaction fees, wire transfer is the most preferred method by many popular exchanges such as Coinbase, Bitstamp, Bitfinex, Kraken, and more. The most evident reason for this is that exchanges encounter fewer issues with wire transfer as transactions are irreversible and have a lower risk for chargebacks. You have also higher buying limits and have the opportunity to buy Bitcoin at the best exchange rates when you chose bank transfers over any other methods. Find a reputable Bitcoin exchange in your area and start investing in Bitcoin today.

Credit Cards and Debit Cards

Buying Bitcoin with credit cards and debit cards may not be the most convenient way, but there are some tips that can help you go around with it. Coinbase, for example, offers instant buy options for credit and debit cardholders. The method is much faster than the regular five days of waiting time for bank transfers. Coinmama may have a high fee for every transaction, but their higher daily limit of up to $5000 is much better than $150 per week in Coinbase. Bitpanda offers one of the lowest fees but is available only for European residents while CEX.io offers one of the best services for international customers. Know which exchanges are best suited for your needs before you buy bitcoin with a debit card or credit card.

Bitcoin ATM

Using Bitcoin ATMs is undeniably the fastest and easiest way to buy Bitcoin. It effectively reduces the amount of time spent in registering and getting verified on various exchanges. Also, transactions with Bitcoin ATMs are anonymous, highly secure, and are usually completed in less than a minute. Don’t worry if it is your first time to use a Bitcoin ATM as its user-friendly interface and multi-language support can help you. Some of the challenges that you may encounter may be locating a Bitcoin ATM near you and paying transaction fees of up to 6%.

Bob Buskirk
the authorBob Buskirk
About 10 years of computer experience. Been messing around with electronics since I was 5, got into computers when I was in highschool, been modding them ever since then. Very interested in how things work and their design.
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