The Best Ways to Buy Bitcoin and Cryptocurrency
Should you be buying bitcoin and other cryptocurrencies? Is it the right time to be purchasing these assets? Is there still a way that you can benefit from them?
The short answer to all three questions is a resounding YES.
Thinking of all currency in the same way you do as stocks is something we always recommend our readers do. It is always the right time to buy stocks!
As impossible as this theory sounds, it is part of why it’s true. Because whatever is happening in the world at any given moment, it’s always in your best interest to get involved with any obvious source of profit. And the Buy Cryptocurrency team will be at your side every step of the way!
The method you will be using to purchase bitcoin and cryptocurrency will depend on which exchange you end up using. Check out our detailed articles and reviews on these after you’ve decided which banking options you want to use to find the right exchange. Certain payment methods are more suited to people in particular places in the world too, so be sure and choose the one most relevant to where you live.
Don’t miss out on the investment opportunity of a lifetime.
Using a Credit or Debit Card
There are certain exchanges that let users buy cryptocurrency like Bitcoin instantly with credit and debit cards. This method is ideal for taking advantage of sudden price dips and you will usually get your Bitcoins instantly.
But, because of regulations and liquidity concerns, it’s occasionally problematic getting some altcoins directly for cash. A good way to circumvent this issue is to buy Bitcoin first and then use it on a crypto-to-crypto exchange to purchase other altcoins.
Using Cash
This is the most private method of getting your hands on cryptocurrency. But because of this, prepare to accept a higher price. Certain exchanges, the best of which you’ll find outlined here, make it possible for transactions to be made person-to-person and you will see vendors on the exchange providing different deals in a variety of payment methods.
Sort through them until you find cash offers and remember, the more you are buying, generally, the better price you’ll get.
Once you have found a seller to your liking, you’ll have to make contact and find out how they want you to proceed with buying. The process will usually involve them furnishing you with their banking information and you then depositing the agreed-upon amount into this. Once you get this done, you’ll get a receipt, upload it, and your Bitcoin will be sent to the address you’ve given the seller.
Bear in mind that exchanges usually charge around 1% for the escrow service they offer, and this will be added to any premium the sellers have put in place.
Using Crypto ATMs
In certain parts of the world, you can buy altcoins via ATMs. It’s very easy to use this method and preferable for many because you don’t need to part with any private information or sensitive data. But you will pay higher fees using ATMs.
And it can be quite tricky finding a crypto ATM that is working when you need it and offers reasonable fees. Also, these machines are usually only found in central areas. If you live in a smaller city, you’ll struggle to find one.
Using Interac eTransfer
The Interac eTransfer payment vehicle is only available to Canadians. It’s a way for business and personal banking accounts to transact with one another and it’s a very popular method for most Canucks interested in cryptocurrency.
Using NETELLER
While NETELLER is not a massively supported option at the majority of exchanges just yet, it’s safe to say that it’s getting there and it’s definitely becoming more widely available every year. It’s an online transfer service used by many merchants worldwide, very similar to PayPal and Skrill. You can think of it as an ewallet that will charge a fee for moving money into it but you won’t pay anything for buying bitcoin from it.
Using PayPal
Although the fees PayPal charges are higher than they are with credit and debit cards, it’s certainly an option.
Using SEPA
Single Euro Payments Area transfers for cryptocurrency purchases are the go-to purchasing method for Europeans. This banking option works across borders, with 36 countries as members. SEPA was created to bring costs of value transfers across European countries down so it makes sense that it’s available when you’re interested in buying bitcoin.
The Benefits of Buying Bitcoin
As young as cryptocurrency is, there are definite advantages to transacting by means of it:
Autonomy
Digital currency grants its users freedom and control of their money in a way that fiat tender can’t. You can control it without having to deal with arbiters like banks or the government.
Discretion
It’s up to you whether or not your purchasing information becomes known. Buying bitcoin is a very discrete process and it won’t ever be associated with you if you don’t want it to be. It’s similar to cash purchases in this way.
Low Costs
Foreign purchases and transactions and even standard wire transfers always involve fees and exchange expenses. Because the government is not involved in cryptocurrency in any way and other intermediary institutions are also precluded, you’ll be paying less whenever you use it.
Helping You Navigate Altcoin
The Buy Cryptocurrency team is here to help you with every aspect of the purchasing of bitcoin and cryptocurrency. Bookmark this page and be sure to check in with us as frequently as you can. That way you can stay up to date on everything related to this fascinating industry.
Take Charge of the Future
With alternative currencies enjoying the massive success they have recently, market trends indicate that this will only be continuing and the time to get involved is right now.
We are here to offer our expert advice, insight, and experience to help you get to where you want to be thanks to making good decisions about your future now.