Being able to purchase Bitcoin has become easier over time. You can conveniently use your credit card, bank transfer or even your PayPal balance to make the purchase. The first step to purchase Bitcoin is to set up a wallet. You need the wallet for storing the coins you buy. You can get a digital wallet from an exchange, from an independent provider, or use an offline one.
Here are the top 3 easy ways to purchase Bitcoin:
Buy from a Bitcoin ATM
You can now use a Bitcoin ATM to purchase Bitcoin with your cash. Most ATMs will charge a 5% fee but it’s a nice tradeoff considering the convenience you get. Most of the ATMs offer bi-directional functionality, which allows you to either purchase Bitcoin or exchange them for cash.
Buy from cryptocurrency exchanges
Cryptocurrency exchanges act as an intermediary for when you sell and purchase Bitcoin. Most exchanges allow you to deposit money from your credit card, PayPal balance or even from your bank. You can then exchange the cash to purchase Bitcoin. Some exchanges do not work in all countries and some do not trade in all coins. Take time to research to identify the exchange that most suits your unique needs.
Purchase Bitcoin with cash
You can also purchase Bitcoin with cash. There are some exchanges which can help you identify people near you looking to sell Bitcoin for cash. Examples of these include localbitcoins, LibertyX, BitQuick, WallOfCoins, and Paxful. Depending on your location, some of these exchanges will even direct you to a bank near you that sells Bitcoin.
Bitcoins can be used as a digital currency for purchasing goods and services or exchanging them for other coins. You can also keep them in your wallet as an investment and hopefully later sell them for a profit. Either way, buying Bitcoin should prove to be a worthwhile investment.