How To Buy Bitcoins

How To Buy Bitcoins

Learning all about cryptocurrencies and what is Bitcoin is an eye-opening experience. Exploring the wonders of decentralized payments can open doors to more efficient sending and receiving of funds, risk-free transfers, and many more advantages that no other fiat currency can match. Bitcoin is on a world of its own, and many are beginning to gravitate towards the technology. For those who want to indulge in the payment benefits and uses of Bitcoin, educating yourself on how to buy bitcoins is among the essential steps.

Before moving forward, you first have to secure a Bitcoin wallet that will serve as the storage for your crypto coins. These wallets come in different forms, so make sure you learn its pros and cons beforehand. As soon as you have one, you’re all set to learn how to buy bitcoins.

Bitcoin Exchanges

Bitcoin exchanges are sites that let you buy and sell bitcoins online. Yes, you can purchase bitcoins from the comfort of your own homes. As long as you have a credit card or any of the available payment methods accepted by the platform like PayPal, Skrill, and other commonly used processors, you can start buying bitcoins by placing an order.

Since Bitcoin’s price fluctuates more than any other currency out there, you have to set a specific budget within the current range. You can purchase at a higher price to attract more sellers, or save cash and set an asking price below market value and see if any sellers are willing to sell at your desired price. Once established, the Bitcoin exchange will do the rest for you. After confirmation, the transaction usually takes a few hours to complete.

Special Bitcoin ATMs

If you live in an area where Bitcoin ATMs are available, then you’re in luck. This is possibly the fastest and most convenient way for anyone to acquire his/her own bitcoins. Bitcoin ATMs work just like standard ATM machines, but all it does is dispense bitcoins in the form of paper wallets. On the other hand, you can provide your wallet address and the machine will transfer the funds directly.

The machine might require some form of verification, but this usually takes no more than a few seconds. Provide Bitcoin address for deposit, insert the cash into the ATM, and confirm the operation. It’s as simple as that. These processes are what most Bitcoin ATMs use as a standard, but expect minor changes from one ATM to another.

Other Ways Of Getting Bitcoins

On the other hand, you can also get bitcoins by accepting it as a mode of payment for goods or services. Given that you already have a Bitcoin wallet, all you have to do is provide your wallet address to your client.

Face-to-face meetups is also a common scenario when learning how to buy bitcoins. There are several forums and marketplaces that cater to those who want to buy bitcoins from sellers in person. The transaction goes as follows: set a meetup place with the seller, provide your Bitcoin wallet address, and pay in cash once the transfer is complete.