Are you interested in buying some Bitcoins but don’t know where to start? Well, today is your lucky day as we have written a comprehensive guide on how to buy Bitcoin across the world. Whether you’re in the United States, Asia, Europe, or Africa, you should be able to buy Bitcoin without any hassle.
Read on to learn about all of the best ways to buy bitcoins around the world.
For people just getting started with bitcoin, learning the ropes of buying bitcoins can be super confusing and frustrating at the same time. But good for you, we have you covered as today’s post will present you with all the information you need to buy Bitcoins without sweating it. And guess what, the process isn’t as nerve-wracking as you imagined it. To buy bitcoins, you need to find a bitcoin exchange and trade your local currency like the Euro, USD, or others for bitcoin.
After buying, you can store or move your bitcoins to a secure wallet. Wasn’t that difficult, was it?
But this guide isn’t just about showing you how to buy bitcoin as we will go deeper to show you everything you need to know about buying bitcoin. Our bitcoin buying guide will cover several key points, including:
To make things easy for you, today’s guide will feature some exchanges where you can buy bitcoin. But even though we have suggested some exchanges where you can purchase BTC without breaking a sweat, we always encourage our readers to do their due diligence before deciding which exchange to buy bitcoin and that’s because some bitcoin exchanges out there are simply out to steal your personal information and rob you of your BTC.
Nonetheless, we have gone above and beyond to only list exchanges with a track record of integrity and living up to users’ expectations.
Even though bitcoin hasn’t yet been recognized as a legal tender in many countries, it is still money, so you’ll need to treat any BTC transaction with the same consideration as you would when dealing with credit cards, applying for loans, and more. For what it’s worth, you want to pay special attention to security and fees so you don’t end up throwing your hard-earned money away out of sheer negligence. That said, here are some things you need to consider when choosing a bitcoin exchange:
If you want to purchase BTC privately, you’ll need to cross off several payment methods, including:
To be on the safer side always, it’s best to buy bitcoins with cash or cash deposit. This is especially important for people who value privacy.
If you’re interested in buying a large number of bitcoins, say 20 or more, then it’s best to buy from big brokers or major exchanges. And when we say major exchanges, we are talking exchanges like Binance and Coinbase. That said, Coinbase has high limits if you’re buying using your bank account.
If you don’t want to deal with limits, then you’re better off doing business with cash exchanges as they have no buying limits. Overall, limits will vary between individual sellers. Plus, their limits are a lot lower than online exchanges.
How soon do you want to convert your regular cash to bitcoins? We are asking because each payment method delivers your bitcoins to your wallet at different speeds.
While your first bitcoin purchase may take some time, subsequent transactions should be hassle-free and much faster since you have all the setup already in place.
On the flip side, if you want your bitcoins delivered to your wallet quicker, you can opt for Bitcoin ATMs. But since Bitcoin ATMs aren’t available everywhere just yet, this option is only open to people who are lucky enough to have one in their area.
Some brokers offer their customers instant buys to speed up bitcoin transactions if they are paying with bank transfer, debit card, or credit card.
Since there is no official Bitcoin price, knowing the current average price of Bitcoin across different exchanges can be nerve-wracking and time-consuming. But not to worry, you can always rely on different online price indexes to get the hang of the average price of Bitcoin across all major exchanges. Armed with this information, you can compare that to the price of Bitcoin on your preferred exchange.
Don’t just do business with just about any exchange you come across, and that’s because there are tons of fraudulent exchanges in the crypto space. A good place to start is asking yourself how long the exchange has been in business. Are they reliable? What are users saying about them?
To be on the safer side, we always encourage our readers to go for top exchanges like Binance and Coinbase, who have built a remarkable track record.
It’s one thing to find the perfect exchange to buy bitcoins and another to factor in the fees charged for services. So before doing business with any bitcoin exchange, do your due diligence by figuring out how much they charge for their services.
Let us also quickly add that fees charged by different exchanges vary based on your preferred payment method. And we will urge you to include deposit and withdrawal fees in the mix. If you intend to buy a lot of bitcoins, then you should be able to enjoy lower fees.
When it comes to buying bitcoins, the payment method is a pretty important factor. And we are sure you already have a preferred payment method you’d like to use for bitcoin transactions. Not to worry, we will talk about this in detail shortly.
Before we take you through all of the great exchanges where you can buy bitcoins, we would like to bring you up to speed on all of your options regarding bitcoin payment methods. As per payment methods, here are the available payment methods we have come across.
What we have listed above is just a brief overview of the different payment options available for people who want to buy bitcoins online. Let’s get into the details, shall we?
To buy bitcoins, you’ll first need to exchange your local currency, let’s say, dollars or euros, for Bitcoin. That said, here is an overview of some of the most common payment methods anyone can use to purchase bitcoin.
Without mincing words, debit and credit cards are among the most popular if not the most popular payment methods online. So it’s not surprising to see many crypto enthusiasts go for this option when buying bitcoins today. And sure enough, this payment method comes with its pros and cons, which we would look at shortly.
If you’re not comfortable using your credit card or debit card to buy bitcoin online, you can opt for bank transfers. As a matter of fact, this payment option is among the best ways to buy bitcoins in most countries.
Cash deposit is arguably the fastest way anyone can use to buy bitcoin. And the best part is that this payment option is also the most private way to buy BTC. So if you care about privacy when executing bitcoin transactions, this is the perfect option for you. And the exciting part is that you get your bitcoins deposited to your wallet within a couple of minutes or hours.
Note: Let us also quickly add that there is no easy way to buy bitcoin from Walmart. We are setting the record straight because this is one question we get asked a lot. Here is the thing, there are tons of bitcoin ATMs globally that let you buy bitcoins easily with cash. All you have to do is simply insert the cash in the machine and wait for your bitcoins to be sent to the wallet address you provided. It’s that simple.
With Paypal integrating bitcoin into their system, users can now convert their Paypal funds to Bitcoin and send them to their preferred wallet address. Unfortunately, these option isn’t yet available to all users, so it isn’t a popular payment option; we bitcoin. More so, using PayPal for bitcoin transactions attracts some ridiculous fees we are sure you’re not prepared to deal with.
Except, of course, this is the only option available to you, we don’t always advise bitcoin users to take this route because of the ridiculous fees that come with this payment option. On the flip side, if your credit card or bank account is linked to PayPal, you may end up paying lower fees, so it all depends.
Besides PayPal providing its users with options to convert their money to bitcoin, there are also a couple of ways to use PayPal for bitcoin transactions. The most popular method is to buy digital items like gift cards and sell those items for bitcoin. Simple right? We thought so too.
Now to the part you have been waiting for. Here is our list of the top places to buy Bitcoin in 2021. While some are exchanges, others are platforms that let you buy bitcoins without an option to sell back. Also on our list are physical ATM-style structures where anyone can buy bitcoin without a hassle.
However, before deciding which option works best for you, we encourage readers to do due diligence to understand how the company works. For each option on our list, we have highlighted the major selling points of each company.
While there are tons of places you can buy bitcoins today, we always encourage you to do thorough research and decide which platforms tick all your boxes. While we have listed some fantastic places you can buy bitcoins, keep in mind that most of the information in this section is based on extensive research and not personal experience.
eToro is excellent for beginners who want to get started with bitcoin. This brilliant website is home to a wealth of information on how to buy bitcoins and execute bitcoin transactions. This makes the exchange perfect for beginners just starting out trading bitcoins.
Users who signup on the platform usually get a virtual account with $100,000 to play around with. This virtual account allows you to get familiar with bitcoin trading. This way, you’ll boost your knowledge of bitcoin trading to avoid losing money when you start trading with real money.
Besides allowing users to trade bitcoin, eToro also provides its teeming users access to trading courses. Not just that, their Learning Lab feature houses a brilliant array of trading tools to improve users’ trading experience.
The company is regulated by the Financial Conduct Authority (FCA) in the UK, with money deposited in tier one European banks. Compared to other exchanges on our list, eToro supports deposits and withdrawals from external wallets. And the icing on the cake is that they don’t charge users any trading fees.
If you want to keep your bitcoin safe, then you’ll not be disappointed to give Coinbase a try. Headquartered in California, Coinbase is among the leading bitcoin and cryptocurrency exchanges globally. Today, the company is the number one choice for crypto users looking to buy bitcoin. We love the fact that Coinbase offers both wallet and exchange services to its teeming users.
According to the company, 98% of all digital currencies on Coinbase are stored offline using vaults and safe deposit boxes. And sure enough, Coinbase offers a 48-hour withdrawal cancellation. This was adopted by the platform to protect users from any type of fraudulent activity. More so, users have the option to add a second person’s name to the approval list. This way, your funds are always protected.
In terms of payment options, the company currently accepts both credit and debit cards. Plus, they charge a flat fee of $3.99. Compared to exchanges in the US and UK, this is relatively low.
Coinbase debit card uniquely supports up to nine top cryptocurrencies. Plus, users can convert it anytime they want to use fiat currency. But while the Coinbase debit card is currently free in the US, a £4.95 fee applies in the UK. Other fees to worry about include withdrawal fees for exceeding daily withdrawal limits. Also, there are charges for using the card abroad. So before you use the card, go through the related fees to see if it is something you can manage.
If you’re interested in crypto CFDs, then you’ll find Pepperstone worth giving a try. Launched in 2010, Pepperstone has risen to become one of the most reputable brokers out there. Besides being regulated by the FCA and Australian Securities and Investments Commission (ASIC), their low trading fees is highly commendable.
And yes, Pepperstone uses some of the best trading platforms out there, including MetaTrader 4, cTrader, and MetaTrader 5, which are all available on desktop, tablet, and mobile devices. In terms of Bitcoin transactions, Pepperstone only offers bitcoin trading on CFD bases. What we mean here is that you aren’t buying or selling bitcoin but rather trading on the price movements of Bitcoin. To this end, you won’t need a digital wallet to trade on this platform. Plus, there is a free demo account to sharpen your trading skills.
The not-so-cool part is that cryptocurrency CFD trading on Pepperstone is only available to only professional clients. Besides bitcoin, the platform also lets users trade other top cryptocurrencies like Bitcoin Cash and Ethereum.
Since the company launched in 2015, it has become the go-to platform for buying bitcoin and other digital currencies. And sure enough, the company has handled over $4 billion in transactions since it debuted. With a presence in 184 plus countries and offering over 30 currencies to trade, this is one platform that will interest any crypto user.
The platform lets users trade directly between different asset classes all in one transaction. This means you can trade anything to anything. How cool can that be?
While the platform lets users trade 58 digital currencies, there are also options to trade other asset classes like gold, palladium, silver, platinum, and shares from top US companies like Apple, Amazon, and Tesla.
The exciting part is that the company also focuses on Socially Responsible Investing. And they do this by providing users a once-in-a-lifetime opportunity to trade on carbon tokens, which offers more than just a financial return.
We love Uphold transparent pricing as they have no commission, account fees, or withdrawal fees to worry about. Nevertheless, keep in mind that trading fees are included in the spread. That said, they are transparent and always provide users with a full price for each trade along with fees. This way, you know exactly how much the trade will cost.
Their intuitive and easy-to-navigate interface makes it easy for anyone to find their way around the platform. Plus, you can access the platform on the web via desktop application or on mobile devices.
The platform also provides users a debit card option, which lets them pay for goods and services using any asset in their portfolio. And the icing on the cake is that users get to earn cashback and crypto on their purchases.
With Uphold, you can buy, sell and trade up to 57 digital assets, including bitcoin.
BlockFi is a reputable exchange that was launched to provide credit services based on cryptocurrency. Headquartered in New Jersey, BlockFi was launched in 2017.
As one of the leading credit platforms, BlockFi offers a range of exciting benefits, including offering market-leading rates with institutional quality benefits. If you want to earn cryptocurrency interest, this is the platform for you.
With BlockFi, users can earn up to 7.5% interest for simply holding a specific altcoin in their portfolio. And guess what? The interest accrues daily and is paid monthly, with no hidden fees or minimum balance required.
Using BlockFi, crypto enthusiasts can buy and sell several cryptocurrencies and stablecoins, making the platform perfect for anyone buying Bitcoin. The most remarkable thing about BlockFi is that users can borrow against their cryptocurrency holding. Unfortunately, this option is only available for users in the US. Another thing to be wary of is that the loan has a 50% LTV with an interest rate of 4.5%. There is also a minimum loan amount of $5,000 and a 12-month payment term.
In terms of regulation, BlockFi is regulated by the New York State Department of Financial Services (NYSDFS). However, the platform isn’t protected by the FDIC or SIPC.
Another thing to note is that BlockFi is not decentralized. More so, they have strict Know Your Customer and AML protocols. So before you can buy Bitcoin on this platform, you’ll need to verify your ID when signing up for an account.
The cost of trading on this platform is factored into the spread. Plus, there is an additional 1% on all transactions. While this is reasonably cost-effective, prices may be a little higher when trading low liquidity altcoins. The good part is once you buy bitcoin on this platform, you start accruing interest.
bitFlyer is a popular Bitcoin exchange with its origin in Japan. It was launched in 2017 and licensed to operate in the US, Europe, and Japan. While BitFlyer allows users to trade multiple cryptocurrencies, including Bitcoin, the upside of doing business with this platform is that there are no account fees to worry about.
BitFlyer is very different from many altcoin exchanges, and that’s because the platform offers a flat fee for buying and selling cryptocurrency, regardless of whether you’re a maker or taker. Notwithstanding, these fees are slightly different as per your location. For instance, maker/taker fees in the US are pegged at 0.12%, while in Europe, these fees are around 0.20%. Plus, the platform offers two different account levels- Trade and Trade Pro.
There isn’t much difference between these two options. But just to make things clear, the Trade Pro option gives users some type of preferential rates like unlimited withdrawals and deposits. In addition to their excellent services, the platform offers quick and hassle-free deposits. While deposits using bank transfers are free, you’ll attract a small withdrawal fee if you’re moving cryptocurrency off the platform, depending on the coin itself. Also, keep in mind that deposits via PayPal attract charges up to 4.9%, along with a 0.35 EUR per transaction.
Besides the bitFlyer platform, the company also has another unique platform designed to cater to professional traders. This platform is known as bitFlyer Lightning. If you’re interested in enhanced transaction tools, improved security, and seamless trading speeds, this is the platform for you. The only caveat with this option is that the price of services on this platform is a bit higher.
bitFlyer is an excellent platform for people looking to find their footing in the crypto space. Plus, the platform is fully audited by Ernst and Young.
Since Coinsmart launched in 2018, it has made buying and selling bitcoin easy for people living in Canada. Unfortunately, the platform is only available to people in Canada.
This platform’s major selling points include impressive learning tools, intuitive and straightforward interface, 24-hour customer support, robust security architecture, and reporting tools for tax purposes.
With Coinsmart, users have a variety of payment options to use. You can make deposits with EUR, CAD, USD, wire transfer, crypto, SEPA, and Interac. Plus, users can trade up to nine top cryptocurrencies. Like many exchanges we have featured so far, Coinsmart charges commission up to 0.20% on a single trade. For a double trade, the commission rises to 0.30%.
An Education Hub provides users seamless access to great articles, how-to guides, and blogs that can improve their knowledge of trading. Besides their responsive customer support team, an FAQ section also answers all of the possible questions you may have.
There are many special trading tools for advanced traders, including stop-loss, limit orders, read time charting and customized orders with order book functionality. While the basic account offers all of the functionalities needed to execute trades, the premium account offers extra perks, including OTC trading, a dedicated account manager, and preferential pricing you’ll not get with the basic account.
Buying Bitcoin on CoinSmart is almost seamless, and that’s because the platform is designed to make cryptocurrency accessible to anyone. Thanks to one-click trading, straightforward pricing, and superb educational resources, anyone will love buying bitcoin on this platform.
In terms of security, the platform is secured using 2FA and strict compliance with KYC and AML regulations. Plus, they hold most of the crypto assets in cold storage. This puts them one step ahead of hackers. The only issue we have with this platform is that they don’t offer users a lot of choices when it comes to available assets. However, if you’re only interested in bitcoin transactions, you’ll not be disappointed to give the platform a try.
Binance is among the world’s leading bitcoin and cryptocurrency exchanges. If you have always wanted to add multiple digital assets to your portfolio besides bitcoin, you’ll find Binance worth checking out and that’s because it offers access to a wide array of crypto assets, including stock tokens.
Besides being the largest exchange by market cap, Binance is loved by tons of users across the globe. We are impressed by their impeccable withdrawal and deposit speeds. Plus, the platform offers some of the most competitive fees you’ll ever come across in the crypto space.
With Binance, users are poised to enjoy a smooth experience. Not just that, the platform is pretty easy to navigate. So whether you’re a newbie or you have been in the crypto space for some time, you’ll be able to find your way around the platform.
In terms of asset security, Binance has a robust security architecture to prevent any fraud cases. With Binance, your investments are protected. And sure enough, the platform works in most countries across the globe.
Buying and selling cryptocurrency and bitcoin is now easy with Crypto.com. This decentralized exchange has become the go-to platform for anyone looking to buy, sell and trade different digital assets. And just so you know, the platform allows users to trade over 100 altcoins.
The platform boasts over 10 million users and operates in more than 90 countries globally. We love the fact that the platform takes security pretty seriously; little wonder why they ensure that 100% of user’s crypto is stored in cold wallets. They only use hot wallets to guarantee fast transaction speeds.
Still, on security, the exchange holds all fiat currency in regulated custodian bank accounts. And they have a strict security policy around access to wallets. You can deposit up to 20 plus fiat currencies using either a debit or credit card on this crypto exchange. Also, you can make a fiat deposit via bank transfer. Buying bitcoin on Crypto.com is not only easy but hassle-free. And guess what? You get to buy cryptocurrencies at the actual cost.
The exchange also offers users a VISA card with an opportunity to make up to 8% CRO, the indigenous token of the platform. This VISA card from the company allows users to use their wallet balance to make payments on platforms that support the card. Not just that, you can also get instant loans with no late fees based on the cryptocurrency in your wallet. As if that wasn’t enough, the platform also lets you send crypto to other users without paying a fee.
Using the Crypto.com app, users can earn up to 8.5% pa for staking crypto. They can also earn 14% when they stake with stablecoins. Since the platform provides a robust tracking of all the assets on their website, you’ll definitely know the price of Bitcoin when you decide to buy. And depending on volume, you may pay between 3% or less as trading fees.
Founded in 2014, Gemini rode to fame on the back of its robust security architecture. Today, the platform is among the most popular places to buy Bitcoin and other cryptocurrencies. Regulated by the NYSDFJ, the company is among the few crypto exchanges regulated in the US and available in over 50 states and countries across the globe.
Using Gemini, anyone can trade, sell and buy more than 30 top cryptocurrencies. The platform also offers free crypto conversion. Nonetheless, there is a convenience charge of 0.50% over the market price. For transactions over $200, traders may pay trading fees between $0.99 to $2.99 or 1.4%. With access to multiple tools on this platform, traders can do more than just buy and sell cryptocurrency. Their mobile application is available on iOS and Android, and yes, it is fully optimized to allow users to buy and sell on the go.
Besides setting price alerts on the mobile app, you can also complete account setup directly from the app, almost seamlessly. If you have always wanted to buy bitcoin without sweating it, Gemini is the place to be. All you have to do is deposit fiat or other coins to your account and convert it to bitcoin. It’s that easy.
Even though Olymp trade is pretty new to the trading scene, especially considering that the platform was launched in 2014, they enjoy massive patronage from over 20 million users worldwide. We like Olymp Trade because they offer users various options, including stocks, cryptocurrencies, commodities, forex, and ETF. And guess what? They have a minimum deposit of $10. Since the company is based in St.Vincent and the Grenadines, it’s no surprise to learn that the IFC regulates them.
The exciting part about Olymp Trade is that they offer free deposit and withdrawal services, regardless of the payment options you use. Nevertheless, the platform charges users an inactivity fee of $10 after 180 days. Olymp Trade charges up to 8%, plus spreads are about average on currency pairs in terms of commission.
For seamless user experience, users can access the platform via the web, desktop, or on mobile. And the interface is also customizable. Their mobile app works great on Android and iOS.
BitPanda is one of the most famous European exchanges. We love this platform because they offer users an exciting array of payment methods. Buying and selling bitcoin on this platform is almost on par with Coinbase. Unfortunately, we don’t have an accurate knowledge of fees breakdown. More so, fees are included within the buying and selling price.
Depending on which account type you set up, you’ll enjoy some level of privacy. If you only verified with an email, you can buy bitcoin but have to deal with limits on your account when selling. On the flip side, if you verified your account with an ID, you can buy bitcoin with a credit card and buy even more digital assets using other payment options.
If you’re in London and always wanted to buy bitcoin without a hassle, now is the best time to join CoinBurp. This platform is massively growing and catering to the needs of crypto enthusiasts in the UK. As a matter of fact, CoinBurp is rated number one on TrustPilot UK as the best place to buy and sell bitcoin and other cryptocurrencies.
The platform delivers seamless and instant GBP deposits, excellent customer service, and seamless withdrawals. In terms of security, the exchange partnered with BitGo. Thanks to this partnership, the platform offers a $100m insurance guarantee on customer assets held in cold storage.
On CoinBurp, users enjoy multiple payment methods, including credit and debit cards, bank transfers, and more. The platform also offers free withdrawals and deposits for payments up to £100/€100 or over. This makes the exchange the cheapest crypto platform in the world.
Do you want to buy and sell bitcoin without paying any fees? Then you’ll love Robinhood as the platform lets users trade bitcoin free of charge. Having only been available on mobile, the platform recently launched its web version to give users many options. Nonetheless, the app interface is still the best for people who like to use their phones to manage their money. Our only complaint about the platform is that it is only accessible in 16 states. Thankfully, the company has expanded its services to cater to the UK market.
Bitcoin ATMs are showing up across the globe and making it easy for people to buy bitcoin. A bitcoin ATM or BATM is like your traditional ATMs, only that they are designed to allow users to buy Bitcoin. And just like conventional ATMs, bitcoin ATMs require users to insert their credit/debit card or cash for bitcoin transactions.
Using bitcoin ATMs, you can buy bitcoins anonymously, and that’s because the platform doesn’t require any form of KYC checks, which is the norm if you’re dealing with most Bitcoin exchanges we have listed so far. Unfortunately, the fees for using bitcoin ATMs are outrageous, and you may end up paying 7 to 10% for buying or selling bitcoins.
The only issue we have with this option is that they aren’t available everywhere, at least for now. But if you’re lucky enough to find one close to you, you’ll not be disappointed to give the platform a try. More so, we expect these ATMs to keep popping up across the globe as more and more people continue to enter the crypto space.
Keep in mind that you’ll need a wallet to receive your bitcoins. So have that close by when using bitcoin ATMs.
CEX is another brilliant UK-based bitcoin exchange. The company offers different payment methods, including credit and debit cards and bank transfers for bitcoin purchases. If you use a credit or debit card for transactions, you should get your bitcoin instantly deposited into your account. Plus, you don’t get to pay exorbitant fees for transactions.
The not-so-cool part is their authorization process which requires an ample amount of personal information. If you plan to buy a large amount of bitcoin using a bank transfer, you’ll need top-level verification which sometimes includes submitting photographs, selfies, proof of address, and identification documents.
Local bitcoins is a different type of bitcoin exchange compared to others we have highlighted so far. This bitcoin exchange works on the peer-to-peer principle. The platform allows users to post adverts for their bitcoins, stating clearly their preferred payment method and rates. Once a user shows intent to buy or sell, escrow protection is activated to prevent any fraud cases.
Since bitcoins on this platform are stored in local bitcoin wallets, users can always pay for their purchases directly. And good enough, signing up on this platform is free. And you can make transactions to the wallet of another user free of charge. Keep in mind that the platform charges a 1% fee for every trade executed successfully.
If you live in Africa and want to buy bitcoins without sweating it, you’ll love Luno. We like how seamless the platform makes buying and selling of bitcoins and other digital assets. In terms of security and privacy, Luno is among the few exchanges with a robust security architecture. And just like other exchanges, Luno offers users multiple payment methods geared towards making transactions smooth and hassle-free.
The only issue we have with this platform is that they don’t have many crypto assets users can trade. That said, if you live in Africa and you’re only interested in bitcoin, Luno should cater to all your needs.
If you’re still pretty confused, that’s okay. Just so you know, Buying bitcoin isn’t the easiest thing to do, especially if you’re new to the crypto space. But not to worry, our website is designed to make your journey easier.
If you still have some questions or need help understanding how to buy bitcoins, our FAQ sections should hopefully answer your remaining questions.
Just like every other market, nothing is sure. And since bitcoin is traded around the clock, the price changes every second.
To get the hang of bitcoin prices, you’re welcome to leverage online bitcoin price charts. This should give you some clarity on bitcoin price history across different exchanges.
The long wait time associated with bitcoin transactions has a lot to do with existing payment methods and not bitcoin itself. And just to be clear, bitcoin transactions only take about 10 minutes to confirm. In the U.S., for instance, bank transfers can take nearly five days to complete. For example, if you buy via bitcoin ATMs, you should get your bitcoins deposited in your wallet within 10 minutes. Any delay shouldn’t be more than an hour.
If you opt for bank transfers, you should be patient for at least five days to be credited.
You can sell off your bitcoins anytime you decide. Plus, most exchanges today allow you to do this for a fee. And if you don’t want to sell, you can spend it as many platforms today accept bitcoin as a form of payment.
This is a regulatory practice that requires exchanges to adhere to strict Know Your Customers laws. Because of these laws, exchanges are required to know the real identity of their users. This is done to prevent fraud and money laundering.
When it comes to bitcoin transactions, there are no barriers to trade, and anyone can engage in bitcoin transactions without any qualms. However, there is a need to know the regulations about bitcoin trading in your country. That said, bitcoin is legal in most countries.
Physical bitcoins do exist, and they come in the form of metal coins with an embedded private key. However, we don’t recommend buying physical bitcoins, except, of course, you’re a numismatist.
Sure, physical bitcoins sound like a great idea, but then you can’t always trust the guys behind such a project, and that’s because they can create two copies of the same private keys. Unless you want to immediately withdraw the digital bitcoins embedded in the physical coins, going for this option is a no-no.
Sure, no law says you have to buy one bitcoin or more. Plus, Bitcoin is divisible to the 8th decimal place. This means that each bitcoin can be split into 100,000,000 pieces. With this, you can buy as little as $5 worth of bitcoin.
Many years ago, anyone could mine bitcoin using computers at home. But things have changed significantly as you now need specialized hardware powerful enough to handle today’s mining.
To kick off bitcoin mining operations, you’ll need a lot of money, access to power, and tons of sophisticated hardware. To go the easier and cheapest route, we always recommend buying bitcoin.
When it comes to bitcoin transactions, there is nothing like bitcoin accounts. Instead, you’ll need to have a bitcoin wallet to execute bitcoin transactions. Whether you want to buy or sell bitcoin, you’ll need to have a dedicated bitcoin wallet to store bitcoins.
Buying bitcoin can be a little challenging, especially if you’re just starting out. But with our exhaustive guide on the best places to buy bitcoin, anyone can buy bitcoin without stressing it. Also, we have highlighted tons of exchanges that allow users to execute bitcoin transactions seamlessly.
But before you opt for any exchange, please do your due diligence and ensure your preferred platform ticks all your boxes. You can also do well to check what other traders are saying about your preferred platform. This should give you an idea or two.
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