The Bitcoin revolution is here to stay. It is, therefore, no wonder that more people are looking to invest in Bitcoin. But most beginners have no clue how exactly to go about it. So maybe you are wondering, “ I want to buy bitcoin – but what’s the simplest way to do it?” Well, there are three simple ways of buying bitcoin. You can buy using your credit card, you can buy from ATMs, or you can buy from peer to peer websites.
So if you are wondering, “ I want to buy bitcoin – but what’s the simplest way to do it?” – here’s more about the three simple ways of doing it:
Buying bitcoin with a credit card
This is arguably the simplest method because all it takes is to enter the credit card details and the CVV code in the respective fields. However, only a couple of exchanges accept credit card payments when buying Bitcoins. For Americans, Coinbase.com and Cex.io are the leading exchanges accepting credit cards. If you live outside America, Coinmama will work just fine. You can either purchase directly from the card or you can use the card to fund your account and then purchase Bitcoin from your balance.
Buying Bitcoin from peer to peer websites
A peer to peer website allows users to sell and buy bitcoin from each other. The beauty of this approach is you can compare the different offers and pick the best rates available. Another advantage is you can actually look for people in your zip code, which gives you lots of flexibility in terms of payment options. You can even use local payment methods that might not be available in other regions. Some websites like localbitcoins even have the option of purchasing bitcoin with cash.
Buying Bitcoin from Bitcoin machines
Bitcoin machines, also referred to as Bitcoin ATMs, allow users to deposit their cash in exchange for Bitcoin. Some of the machines are advanced and allow both the buying and selling of Bitcoin. These machines are usually connected to the internet in order to perform the transactions in real-time and securely. The main difference between Bitcoin ATMs and the traditional ATMs is instead of linking to a bank account, they link to an exchange.
Before you attempt to buy bitcoin, make sure you have a digital wallet. Buying bitcoin and leaving it on your exchange is not 100% safe because the exchange could get hacked resulting in the loss of your investment. Additionally, do not panic if you notice the prices oscillating because although the price action is a bit volatile, the overall trend is an upward trend. Hopefully you can now answer the question ‘ I want to buy bitcoin – what’s the simplest way to do it?’ with complete confidence.