How to Buy Bitcoin?Blockchain, Crypto & CryptocurrencyUpdated on May 29, 2019 View more like this | Visit Latvia, UN | Contact Eddy Noname |
Want to know how to buy bitcoin or any other cryptocurrency?
Well, you are in the right place.
The short answer is:
- Find the best exchange
- Trade your local currency, like U.S. dollar or Euro, for bitcoins or any other cryptocurrency
- Move them to a secure wallet. I recommend hardware wallets like trezor.
But for now, let's talk about Bitcoin.
As we all know that BTC is the most expensive cryptocurrency right now.
So there are many ways how to buy bitcoins - with a credit card, bank transfer cash and so on.
I would not recommend buying BTC in cash, well unless you want to stay anonymous. Because it takes more time if you don't have Bitcoin ATM's around you. You will have to find someone on Localbitcoins to sell you them, meet them and so on.
What about limits?
If you want to buy a large amount of Bitcoin, you need to choose the big exchanges. Like Paybis for example.
But everyone has their limits buying it, if you have no problems revealing your identity you can spend pretty much on BTC when buying it.
Most cash exchanges have no buying limits. Limits, however, will vary between individual sellers and are usually lower than online exchanges.
How quickly you can access your BTC?
How quickly do you need to convert regular money into bitcoins? Different payment methods deliver your coins at different speeds.
Your first BTC purchase can be time-consuming because you need to set everything up, go through KYC process and all that.
Bitcoin ATMs can be the fastest way to purchase bitcoin if you’re lucky enough to have one in your area. You can search on Google "Bitcoin ATM Locations" and you will see there if you have one at your area.
Exchange Rate.
Bitcoin has no "right price" - every exchange has its own price, but all the exchanges have kinda the same prices. Some differ a little bit.
So before buying - check the rates in some of the exchanges. See where you can get the best price.
Don't Get Scammed.
Before you buy from some exchange with low BTC price, check how long it has been working, feedback about it and also traffic.
Just google "[Exchange name] review" to see reviews about it and people opinion.
How to Pay for BTC?
Credit/debit cards are the most common way to pay online. So, it's really no surprise that many people want to buy bitcoins this way.
Why buy bitcoin with a credit/debit card?
- Credit cards are a payment method most people are familiar with; probably the easiest way to buy bitcoins online
- Delivery of bitcoins is instant once initial verification is complete
Why Sometimes Bitcoin Takes So Long To Buy?
Long wait times are usually a problem with existing payment systems, not with Bitcoin itself.
Bitcoin transactions only take about 10 minutes to confirm. Bank transfers in the U.S., for example, can take up to five days to complete.
Bitcoin transactions can be confirmed as quickly as 10 minutes; it’s rare to experience a delay longer than one hour.
This means that a merchant can’t release bitcoins to a customer until five days have passed unless they're willing to take on risk.
Well, you are in the right place.
The short answer is:
- Find the best exchange
- Trade your local currency, like U.S. dollar or Euro, for bitcoins or any other cryptocurrency
- Move them to a secure wallet. I recommend hardware wallets like trezor.
But for now, let's talk about Bitcoin.
As we all know that BTC is the most expensive cryptocurrency right now.
So there are many ways how to buy bitcoins - with a credit card, bank transfer cash and so on.
I would not recommend buying BTC in cash, well unless you want to stay anonymous. Because it takes more time if you don't have Bitcoin ATM's around you. You will have to find someone on Localbitcoins to sell you them, meet them and so on.
What about limits?
If you want to buy a large amount of Bitcoin, you need to choose the big exchanges. Like Paybis for example.
But everyone has their limits buying it, if you have no problems revealing your identity you can spend pretty much on BTC when buying it.
Most cash exchanges have no buying limits. Limits, however, will vary between individual sellers and are usually lower than online exchanges.
How quickly you can access your BTC?
How quickly do you need to convert regular money into bitcoins? Different payment methods deliver your coins at different speeds.
Your first BTC purchase can be time-consuming because you need to set everything up, go through KYC process and all that.
Bitcoin ATMs can be the fastest way to purchase bitcoin if you’re lucky enough to have one in your area. You can search on Google "Bitcoin ATM Locations" and you will see there if you have one at your area.
Exchange Rate.
Bitcoin has no "right price" - every exchange has its own price, but all the exchanges have kinda the same prices. Some differ a little bit.
So before buying - check the rates in some of the exchanges. See where you can get the best price.
Don't Get Scammed.
Before you buy from some exchange with low BTC price, check how long it has been working, feedback about it and also traffic.
Just google "[Exchange name] review" to see reviews about it and people opinion.
How to Pay for BTC?
Credit/debit cards are the most common way to pay online. So, it's really no surprise that many people want to buy bitcoins this way.
Why buy bitcoin with a credit/debit card?
- Credit cards are a payment method most people are familiar with; probably the easiest way to buy bitcoins online
- Delivery of bitcoins is instant once initial verification is complete
Why Sometimes Bitcoin Takes So Long To Buy?
Long wait times are usually a problem with existing payment systems, not with Bitcoin itself.
Bitcoin transactions only take about 10 minutes to confirm. Bank transfers in the U.S., for example, can take up to five days to complete.
Bitcoin transactions can be confirmed as quickly as 10 minutes; it’s rare to experience a delay longer than one hour.
This means that a merchant can’t release bitcoins to a customer until five days have passed unless they're willing to take on risk.
