How can I buy Bitcoin?
How can I buy Bitcoin?
You can purchase Bitcoin with USD and other non-digital currencies (which sometimes are called “fiat” currencies). It’s possible to do online through your bank; you just have to find the appropriate online wallet for your area.
247exchange.com offers various methods of buying bitcoin including the instant ones. You can purchase Bitcoin with credit or debit card instantly, Visa, Visa Electron, MasterCard, Maestro cards (including prepaid ones) are supproted.
Also you can immediately buy Bitcoin with cash at over 400 000 locations worldwide. Bank transfers (SWIFT, SEPA, local) can be used as well. The company has financial license which guarantees the safety of the clients’ interests when they conduct financial transactions.
Coinbase is the most popular web wallet that works directly with United States bank accounts, and will allow you to exchange fiat for Bitcoin (vice versa) for a fee. You can either set up a link with your checking account or connect a credit card for faster purchases.
Bittylicious is a good alternative for the U.K. but it isn’t effective elsewhere. Bitstamp works perfectly with any nation that supports the SEPA money transfer system (most European Union countries and a few others). However, you will need to verify your identity using photo ID and proof of residence. The service also works internationally, but withdrawing and purchasing Bitcoin costs a substantial fee.
CoinJar is a reputable exchange for Australians that seems to follow the same business strategy as Coinbase. For any Bitcoin enthusiasts living in New Zealand, there is BitNZ. It is still in its early stages at this point, but it does seem to be the most legitimate fiat-to-Bitcoin and Bitcoin-to-fiat exchange out there that works with New Zealand bank accounts.
A viable alternative that works nearly anywhere is LocalBitcoins.com. There, you can find a potential Bitcoin seller who can come to whatever terms you prefer. Cash, credit card, wire transfer, PayPal – it is all fair game on LocalBitcoins and it is only limited by how much you trust the person on the other end. These are called OTC (over-the-counter) trades and they can be risky, but LocalBitcoins does offer an escrow service that will mitigate some of the risk.
There aren’t many OTC options out there, but finding a local Bitcoin meet up can be another way to find people willing to sell bitcoins for cash or maybe even a service. Mowing someone’s lawn for Bitcoin is possible.
If you have obtained an alternative cryptocurrency (altcoin) either through a sale or through mining, you could always trade it on a cryptocurrency exchange like Cryptsy or Bittrex. However, if you have obtained a substantial amount of altcoins, you probably know how and where to buy bitcoins already.
Buying Bitcoin can be as simple as getting cash through an ATM. Such technology already exists. In some places, only government regulations hold the process back; in others, adoption numbers. Coinatmradar.com will help you find a Bitcoin ATM (also known as a BTM), depending on where you are.
The Canadian Government has gone back and forth on bitcoin, but there is no doubt Canadians love the cryptocurrency. The country has more Bitcoin ATMs than the entire United States, including four in Vancouver alone.
The West Coast of the United States has a decent number of Bitcoin ATMs. Austin, TX is often known as a tech hub and it keeps up that reputation by having two Bitcoin ATMs in the downtown area. You’ll also find some ATMs in the suburbs of Kansas City and four in or near Boston (where the MIT project is taking place). Any of those ATMs will let you spend cash on bitcoins, and many of them will also let you sell your bitcoins for cash.