Finance

How to Buy Bitcoins? – A Complete Guide!

Bitcoin is a virtual currency based on blockchain technology, allowing users to make quick transactions in different parts of the world. Bitcoin has a massive value in the market, and its value will surely increase in the future, so it is the best time to invest your money in bitcoins. If you don’t want to use it, you can simply buy and hold them to make some gains. You can visit http://kenyanwallstreet.com/ to learn more about buying and trading bitcoins. Some of the safest and most common ways to buy bitcoin are listed in the following paragraphs.

Use a bitcoin exchange

One of the most popular and common methods to buy bitcoins is via an online bitcoin exchange. Online bitcoin exchanges are websites where buyers and sellers can meet and exchange bitcoins. Over the past few years, it has become the most reliable and popular place to buy bitcoins. Bitcoin exchanges offer a wide variety of payment methods, which makes it more convenient for the users to buy bitcoins. These exchanges charge some commission in return to allowing you to buy and sell bitcoins. There is no better option available when it comes to convenience and safety while buying bitcoins. There are few steps that you can follow to use a bitcoin exchange for buying bitcoins;

Step 1 – The first thing you need to do while buying bitcoin from an online exchange is set u a bitcoin wallet. The bitcoin wallet is a digital locker in which you can store bitcoins and use them to make transactions worldwide. There are numerous bitcoin wallets, but you need to pick one that offers the best features at a minimum price. You must focus on the security features provided by the wallet as the main purpose of it to keep bitcoins safe.

Step 2 – The next step is to register and create an account on the online exchange. It is quite simple to register, as all you need to do is fill in the details and create an Email username with a password. You can use the same credentials to sign in to the exchange anytime.

Step 3 – The last step is to sign in to your account by inserting the authentication code. Once you do it, you are all set to make your purchase. You can buy fractions of bitcoins and complete the payment using the most suitable payment method.

Purchase face to face from a seller

Another common and easy way to buy bitcoins is doing it face to face with a seller. You can easily find any broker who can help you buy bitcoins from any seller. Buying bitcoin face to face is a highly convenient option as it is more secure, and there is minimum risk of any scam or fraud. It is perfect for investors who want to buy a small number of bitcoins. If you want to buy a large number of bitcoins, you can visit the OTC market as it will full of the biggest traders of the market.

The best thing about buying bitcoins face to face is that there is no fixed price; you can negotiate and buy them at a better price. It is a bit time-consuming process but can help you save a lot of money. So, if you want to save time, you must go for online bitcoin exchanges, and if you want to save money, face to face, buying is better.

Bitcoin ATM

If you use debit cards, you must have visited an ATM. Bitcoin ATM is nothing like a bank ATM as it is used to buy bitcoins. The machine in bitcoin ATMs is connected to the Internet, and its main purpose is to facilitate the purchase of bitcoins. You can deposit the cash in the machine and buy bitcoins in return. Bitcoin ATMs are now available all over the world, and you can easily access them. You can get a purchase receipt from it, and you can use the QR code on the receipt to transfer purchased bitcoins in your wallet.

The transaction fees charged by Bitcoin ATMs are quite less than other exchanges, which makes it a great option to buy bitcoins online. There are several bitcoin locators that you can use to check if there is any bitcoin ATM in your area. It is highly accessible and makes it more convenient to buy bitcoins in a flash of seconds.

Nicole Ann Pore

Nicole Ann Pore is a writer, an events host and a voice over artist. Travel, health, shopping, lifestyle and business are among the many subjects she writes about. Through quality and well-researched writing, she informs and even entertains readers about things that matter. She is also interested in film critiquing and filmmaking. Giving all the glory to God, Nicole graduated Cum Laude from De La Salle University Manila, Philippines with a Bachelor’s Degree in Communication Arts.

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