How to Buy Bitcoins and the Best Places to Buy Bitcoins
If you want to get into blockchain investing, buying bitcoin is easy. But you need to know how and the best places to buy bitcoin. Here’s your guide.
Bitcoin’s performance on the market has disappointed many eager, inexperienced investors. Some experts think Bitcoin may enjoy another value increase.
The market seems to be correcting itself, so you may be wondering if now is a good time to invest in Bitcoin or other cryptocurrencies.
You should take seriously any investments you make, especially on the cryptocurrency markets. These investments are notoriously volatile. If you think you should invest in Bitcoin, you need to know how and where you can buy it.
Here you’ll find the best places to buy Bitcoin and how to do it. If you want to get into blockchain investing, buying bitcoin is an easy way to go.
How to Buy Bitcoin With Confidence
Before you make any big moves, consider the basics of investing. Investing can be a great way to build wealth over time, but you should only invest what you’re willing to lose.
Don’t make any investments in an attempt to get rich.
Bitcoin is still the number one cryptocurrencies for investors. This makes it a good place to start. It’s easily available on different platforms.
You can buy cryptocurrencies with a debit or credit card. You can even use your PayPal account.
First, you’ll need to find a Bitcoin wallet that suits your interests and needs. These come in various formats. Your wallet is a series of keys you need to buy and sell bitcoin.
You use these public and private keys to access your portion of the blockchain. Each block in the blockchain holds information about transactions.
Best Places to Buy Bitcoin
In your search, you’ll come across many different platforms you can use to buy Bitcoin. These platforms are known as exchanges. Each has its own benefits and deficits.
Here are some of the best places to buy bitcoin to get you started.
Coinbase is one of the most popular cryptocurrency exchanges. You can reach this exchange from 39 countries according to its website.
To use the exchange, you’ll need to pay a 3.99% fee. However, buying on this exchange is quick and easy. You can use either your debit or credit card.
You can also link your bank account to the Coinbase exchange.
In addition to Bitcoin, you can buy four other cryptocurrencies. These are Bitcoin Cash, Litecoin, Etherium, and Etherium Classic.
You can easily create and manage your portfolio from the Coinbase website or mobile app. You can set up recurring buys if you wish to buy more Bitcoin regularly.
Coinbase is a leader in the industry, as it follows industry best practices and offers tight security.
Coinbase acts as a brokerage service, meaning they sell the coins directly to you. It also offers a range of trading options for more experienced investors.
The exchange is geared toward more experienced buyers, but many new investors find themselves buying here.
You will start out with a $1,000 weekly limit. You can raise your limit when you provide additional information, such as your phone number and photo ID.
Another popular exchange is Coinmama. Coinmama was created and is headquartered in Isreal. It serves over 180 countries.
Coinmama is considered a brokerage service, meaning it sells you the cryptocurrencies directly. This simplifies the process a good deal. You don’t have to wait for someone else to sell you the coins.
Unfortunately, you’ll need to pay a 5.9% commission.
When you purchase any cryptocurrencies through Coinmama, the exchange locks in the price when you submit the payment. This is good because even a few hours can make a huge price difference.
Coinmama offers much better customer service than Coinbase, which many users enjoy.
It can be a bit difficult to set up your Coinmama account. Many users complain they have to provide loads of personal information.
This is to mitigate money laundering and other fraudulent activities.
Bitstamp allows you to buy Bitcoin, XRP, Litecoin, Etherium, and Bitcoin Cash. Although the service is worldwide, you can only use USD or EUR to buy cryptocurrencies.
This exchange tends to be a little more friendly to the UK and other European residents.
Unlike Coinbase and Coinmama, Bitstamp offers only trading services. This means you have to wait for someone to sell their coins to buy from them.
You’ll pay a 0.5% deposit fee.
From there, trading fees remain low compared to other exchanges. For purchases under $20,000, you’ll pay 0.25%. Fees are lower for larger purchases.
However, using a credit card can be a bit precarious. You’ll need to pay an 8% fee. Add that to your regular credit card fees.
Bitstamp’s customer service gets mixed reviews, much like other exchanges. This is quite normal in a new industry.
Cryptocurrency trading is subject to many hacking attempts. No exchange is immune to this problem.
If you use Bitstamp, you’ll benefit from their highly regarded security.
Leaders in the industry are working on better security. This should help keep your wallets secure and free from hacks in the future.
Bitstamp remains a low-fee exchange platform for users with more experience.
Which Exchange Should I Choose?
The exchange you choose will depend on your personal preferences and experience level. Some platforms are much more friendly for beginners.
Others might require more knowledge of the market.
You’ll want to consider fees and your country of origin. While some platforms are available worldwide, others service a limited range of countries.
If you’re just getting started, do your homework. Investing is serious business.
Invest in the Future With Bitcoin
Bitcoin is a popular issue worldwide. Some high-profile investors and lawmakers are wary of its future.
Don’t let these doubts cloud your judgment. You should feel confident about making investments in which you believe.
Trading can be an intimidating game. This is just a small list of the best places to buy Bitcoin.
Hopefully, it’s helped gain more understanding about the process and available platforms. If you are wise with your investments, you could secure a more stable financial future.
Don’t take our word for it, though. Make these decisions using your own judgment.