How To Buy Bitcoins Online
Link to list of exchanges you can buy from online.
How To Buy Bitcoins In Person
Link to list of exchanges you can buy from in person.
Bitcoin investments have received much attention among people than ever before. The amazing opportunity available for the people to make money has contributed a lot towards the popularity of Bitcoin investments.
If you are interested in investing in Bitcoins, the first thing you must do is to buy them. People who are planning to purchase Bitcoins have two major options to consider about. Either they can buy Bitcoins online or buy Bitcoins in person. Both these methods are linked with pros and cons. Therefore, you will need to have a clear understanding about the two methods and go for the best option out of them.
Get a Bitcoin Wallet First
If you do a simple research on the internet, you will be able to come across a large number of service providers, who offer assistance for the people that are interested in purchasing Bitcoins online. You just need to get hold of a reputed merchant out of them in order to move ahead and start investing in Bitcoins.
Purchasing Bitcoins via PayPal and credit card would not be the best option available for some of the individuals. It depends entirely on your jurisdiction. Therefore, it is important to have a clear understanding about the process of purchasing Bitcoins, so that you can stay away from frustration in the long run.
As the first step of purchasing Bitcoins, you need to create a Bitcoin wallet. This is the place that you can use in order to store Bitcoins that you purchase. It is pretty much similar to your bank account. People who make the decision to purchase Bitcoin wallets are also provided with many different options to consider. For example, you are provided with the ability to select from different security levels based on your preferences.
Buy Bitcoin Online
When you have created a Bitcoin account, you can simply go ahead and deal with a Bitcoins merchant to purchase the number of coins that you want. If you are a newcomer to the online wallets and exchanges, there is a high possibility for you to end up with confusion because of the availability of many different types of exchanges.
Some of the Bitcoin exchanges are full blown exchanges and their services are available for the institutional traders. However, the others are simple wallet services, which offer limited Bitcoin selling and buying capabilities.
The Bitcoin exchanges would usually store a considerable amount of fiat or digital currency. When you go and request for Bitcoins, you will be provided with the requested amount from what they have stored. The transaction would be pretty much similar to what happens in a bank. If you are a person who is interested in engaging with regular trades, selecting Bitcoin exchange wallets or exchanges can be considered as one of the best options available for you to consider. If you select this option to buy Bitcoin online, you don’t need to worry about any anonymity issues as well. In addition, you don’t need to worry about the anti-money laundering and know your customer requirements as well.
Out of the available websites that are available for you to buy Bitcoins online, you can select a one and then move ahead. Then you will need to link one of your existing bank accounts or credit cards in order to make sure that funds are being transferred for the amount of Bitcoins that you purchase. If you buy Bitcoin online, you will need to pay a service fee to the exchange as well. This can vary from one merchant to another, but usually it ranges in between 5% to 10%.
It is also important for you to keep in mind that the service offered by all online services are not the same. Therefore, you need to be extremely careful when you are selecting a one out of the available service providers. Otherwise, you will end up with the frustration of being a victim of a scam. That’s where you should pay special attention towards the reputation of the Bitcoin exchange that you select to buy Bitcoin online.
Buy Bitcoin in person
If you are living in a city, or if you don’t want to through the hassle linked with bank transfers, buy Bitcoins in person would be the best option available for you to consider. You will never find it as a difficult task to purchase a trusted local seller in your neighborhood.
When you buy Bitcoin in person, you are provided with complete freedom to arrange the transactions as per your specific needs and requirements. In addition, you will be able to negotiate the prices as well. It is entirely up to you to communicate with the local seller in person and go for the best deal to kick off your Bitcoin investments.
However, buying Bitcoin in person is linked with some security considerations. You will need to pay special attention towards these security concerns in order to stay away from frustration. If the trade that you do is a sizeable one, the risk factor associated with the transaction is pretty high. You should always ask the seller to come to a busy public place such as a restaurant in order to do the transaction. You should never meet in private homes. In addition, you need to be careful when you are walking with a lot of cash, in order to buy Bitcoins in person.
If you are meeting a seller in your neighborhood to buy Bitcoin in person, you need to make sure that you have access to your Bitcoin wallet. It can be from your laptop, tablet or your smartphone. In addition, you will need to be connected to the internet. Otherwise, you will not have any other method to confirm the Bitcoins transaction that you do with the seller. There are some dedicated websites, which allow you to purchase Bitcoin in person. You will need to take a look at these websites when purchasing the amount of Bitcoins that you want as well.