How to buy bitcoin?

How To Buy Bitcoin?

How To Buy Bitcoin?

There are two ways how to buy bitcoin: one is by investing in a supercomputer and engaging in a mining process, and the other is buying bitcoins for money. Buying bitcoins is getting easier, especially after the popularity and price of this digital coin reached an all-time high recently. However, the fastest way is buy to Bitcoin with credit or debit card. Another online payment method is to buy Bitcoin with PayPal. A recent addition to the bitcoin buying market are bitcoin ATM-s through which you buy Bitcoin instantly with cash.

Before engaging into buying bitcoins, however, be sure to acquire a digital wallet. Once you have it, add bitcoins to it. Places where you get bitcoins are either cryptocurrency exchanges or other people from the cryptocurrency market. There are a number of consumer-friendly websites for buying and selling not only bitcoins, but ethereum and other cryptocurrencies. If your interest goes above just buying or selling, cryptocurrency exchanges and wallets are the best option in case you want to engage in cryptocurrency trading and speculation.

When you create an account on a Bitcoin exchange, choose the country of residence and approved exchanges. Then, set up an account and connect it with your bank account. After completing these steps, just confirm purchase and your bitcoin will be on its way to your wallet.

Each cryptocurrency exchange has its own rules, so be sure to understand them before trading any significant amount of money. Also, every country has their own laws so inform yourself before making a purchase.

How to buy Bitcoin with PayPal, credit card or cash?

Want to know how to buy bitcoin online? Bitcoin exchanges are the best option. The primary reason why most people buy Bitcoin online is the speed of the transaction. Essentially, this way you buy Bitcoin instantly and the transaction is usually confirmed within just a few minutes.

Bitcoin exchanges do not have an option in case you want to buy Bitcoin with Paypal. There are only two ways when you want to buy Bitcoin with Paypal. One is through VirWoX and the other with a credit card. VirWoX is a platform used for Second Life Lindens, a currency from a game called Second Life. When you deposit the money on PayPal, choose an option to convert it into Second Life currency and then buy Bitcoins. The other way is through LocalBitcoins where you find a seller who accepts PayPal as the payment method. When you arrange the transaction, deposit the money from your credit card to PayPal and transfer it to the seller. As you see, buying Bitcoin with PayPal is indeed possible.

Bitcoin ATM

Bitcoin ATM

In case of buying Bitcoin with PayPal is off the table and you want your Bitcoin instantly, the best thing to do is to buy Bitcoin with your credit card. Create an account on a Bitcoin exchange site and choose your country of residence. Most known sites are Coinbase and CoinMama offering an easy way to buy Bitcoin instantly. Both of them charge a fee ranging from 3.75% to 5% on a price you pay for bitcoins. They have a buying limit that varies from $5.000 to $10.000/day. Coinbase offers fast and cheap global payments and is available in 32 countries. The site offers an option to buy Bitcoin in Canada and Australia but not a selling option. When you make an account, choose a payment method and insert credit card information, confirm it and you are ready to buy.

If buying Bitcoin online does not suit your preferences and you prefer buying Bitcoin with cash, sign up on LocalBitcoins site. In this case, choose a country and find a seller who accepts cash. Cash is the best option in case you want to buy Bitcoin anonymously. Another way to buy Bitcoin with cash is through bitcoin ATM machine. Use your ID, insert cash and bitcoins will be transferred to your Bitcoin wallet. It is also the best option in case you want to buy Bitcoin anonymously and instantly.

The price of bitcoin is rising, so for now it is impossible to buy Bitcoin cheap. But, what you can do is selecting an exchange site that charges the smallest fee, or you can engage in cryptocurrency trading and speculation, then wait for Bitcoin price to fall and buy Bitcoin cheap.

How to buy bitcoin in UK?

Just like everywhere else, you can buy bitcoin in UK by signing up with a cryptocurrency exchange. Some of the platforms available in the UK include Bittylicious, CoinCorner, Bitstamp and Coinfloor. Keep in mind, however, that some banks are unwilling to do business with bitcoin companies in the UK. This means that sometimes you will have to put up with SEPA (Single Euro Payment Area) bank transactions. Apart from that, everything works the same – you will have to register, have your own wallet and do everything else a regular trader needs to do.

However, what is interesting to note is that you can use Bitcoin ATMs in this country. Although they look like their traditional counterparts, they are not ATMs in a traditional sense. They do not connect with a bank to extract funds from your account, but they serve as an exchange for bitcoins and cash. This method entails private and anonymous bitcoin purchases, but it also means high provisions that vary from 5-10 percent per purchase. On this link you can check all Bitcoin ATMs in your vicinity. Also, you can check out this map that shows businesses in UK dealing with bitcoins. 

Bitcoin Wallets

Bitcoin Wallets

How to buy Bitcoin in India, Canada and Australia?

The cheapest way to buy Bitcoin in India is through Unocoin. It is an exchange primarily concerned with the Indian market, providing the people of this big country with the opportunity to store, buy and sell bitcoins. Unocoin charges a low fee of 1% but it is not private since it requires ID verification. You can make deposits through any national online bank or through NEFT/RTGS. Another way to buy Bitcoin in India is Zebpay through which you can easily buy bitcoins with a connected Indian bank account.

Canada offers multiple Bitcoin exchanges. Residents of Canada can use Coinbase, CoinMama, Canadian Bitcoins or other exchanges to buy Bitcoin with a credit card. Exchange site Canadian Bitcoins is resident of Canada. It offers a variety of different payment options like buying Bitcoin online or buying Bitcoin with cash via mail or in person. The limit for purchase is up to $100.000/day. For buying small amounts of Bitcoins in Canada, there is QuickBT with a limit of $100/day and requiring only a cell phone number.

In case you want to buy Bitcoin in Australia choose Coinjar. This global personal finance company from Australia is used as an exchange and wallet provider. You can purchase Bitcoin cheap via BPAY with a 1% fee. Also, clean interface makes it easy for the first-time buyers. The company has also released a debit card service, ‘Coinjar Swipe’. Another option for buying Bitcoin in Australia is Coin Loft, a trusted broker, with a wide range of payment options so you can buy Bitcoin with cash, credit card, Fleepin and POLi. Bitcoins are delivered almost instantly, up to one hour.

Bitcoin Price Chart

Bitcoin Price Chart

Final thoughts on how to buy bitcoin

As Bitcoin is getting more popular, there are more and more options how you can buy bitcoins. Find an exchange market or a broker that suits your preferences, open an account and join the world of digital currency. As the price of bitcoin is growing, do not waste your time waiting for the right moment. The time is now!

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Author: Ben Prescott

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