Wondering, where to start your Bitcoin journey and become part of trusted economy? We have got you covered here as this short guide will give you the most convenient and easy ways to buy bitcoin.
Amid the global geopolitical issues such as Brexit, U.S. – China trade war and economic slowdown, Bitcoin has become a haven for the investors looking for a secure place to park their money. Not only financial institutions but retail investors are now also looking on how to invest in Bitcoin to park their surplus.
Buy Bitcoin. It’s never too late to be honest.– Arif Naseem
Make sure you don’t miss out Top Bitcoin Trends of 2020 that will determine the coming years for Bitcoin as well as other cryptocurrencies.
Depending on the place, online/offline and payment methods, there are several ways to buy Bitcoin. You can buy Bitcoin from crypto exchanges, Bitcoin ATMs, individual, etc. with cash, debit/credit card, wire transfer, PayPal, bank deposits, etc., directly from another person who has Bitcoin, and you can also start selling goods and services in exchange with Bitcoin.
Bitcoin is the most stellar and most useful system of mutual trust ever devised.– Santosh Kalwar
1. Buy Bitcoin from crypto exchanges
The most preferable and convenient way to buy Bitcoin is through a crypto exchange. Crypto exchanges are online digital currency market place that allows you to buy and store Bitcoin. However, signing up with crypto exchanges require you to go through KYC and AML processes.
2. Acquire Bitcoins from a Bitcoin ATM near you
There are over 5000 bitcoin ATMs around the world and more of them about to come. When a question strikes how to invest in bitcoin securely, the only answer comes around is Bitcoin ATM. The bitcoin ATM or BTM is more of like traditional ATM which allows you to buy Bitcoin directly without going on to the crypto exchange.
If you have no intentions to buy a large chunk of Bitcoin then BTM is the best option as it allows you to buy bitcoin with as low as $5.
3. Buy Bitcoin from an individual
It is not the preferable way to buy Bitcoin but as long as another peer is trustable you can opt for it. You can reach to an individual who is selling Bitcoin and buy Bitcoin directly with cash.
All you will have to do is ask him or her to transfer the Bitcoin in your wallet. it is important to pay hefty of attention when entering the wallet address. Once the transaction is completed it can’t be reverted.
In case, you can’t find individuals selling bitcoin, there are several sites like craigslist and LocalBitcoins. LocalBitcoins serves all over the world. You can google it and find the individuals who are into Bitcoin trading.
4. Exchange other cryptocurrencies with Bitcoin
If you already have some other cryptocurrencies such as Ethereum, Litecoin, etc. you can go on crypto exchanges mentioned above or the ones of your choice and enter the currency you want to exchange with Bitcoin.
It is also important to note that Bitcoin is highly volatile and hence, the price changes frequently. So, you may not get the Bitcoin at the same price every time you buy it.
5. Start selling goods and services in exchange with Bitcoin
Digital currencies have become prevalent and Bitcoin has topped the list of cryptocurrencies accepted across the globe in exchange with goods and services. You can offer various services and products and get paid in Bitcoin.
Although, it is not exactly buying Bitcoin but it is more of how to invest in Bitcoin. You can simply store that Bitcoin in your wallet and sell them when Bitcoin touch new highs. There are also ways to earn a small portion of bitcoin by playing games online. You can even complete certain tasks offered by a certain platform.
6. Buy Bitcoin with PayPal
If you have a PayPal balance you can buy Bitcoin with it. You certainly cannot convert your PayPal balance in Bitcoin. However, you can buy digital products online with PayPal and sell those items for Bitcoin.
Moreover, some crypto exchanges allow you to pay with PayPal balance for Bitcoin. You can even ask an individual to sell you Bitcoin if he or she get agreed to get paid via PayPal.
7. Buy Bitcoins with bank account/transfer
You can simply buy Bitcoin with bank account deposits and transfer the funds to the exchange you want to buy Bitcoin from. It is how to invest in bitcoin when you are just getting started with digital currencies.
Most certainly, you will not have any other cryptocurrencies in your hand. So, it will be the best way to get started with Bitcoin.
8. Invest in Bitcoin ETF
Exchange-traded funds are popular when it comes to traditional stocks. However, Bitcoin ETFs are now becoming popular. When it comes to how to invest in Bitcoin, Bitcoin ETFs are one of the great ways.
Though, it is quite an advanced investment option require you to conduct a hefty of research and analysis before you start investing in. NASDAQ and other popular indices are also planning to offer the Bitcoin ETF trading facility along with other cryptos ETFs.
9. Mine Bitcoin
It is not the direct way to buy Bitcoin but still, it is one of the ways to invest in Bitcoin. You will certainly need to invest in mining hardware such ASIC and other equipment of mining rig. This mining rig will earn you a fraction of Bitcoin as a reward Bitcoin mining is a tough task and requires a greater amount of electricity as well which will result in further expenses.
Once your rewards are big enough to balance the expenses, mining is one of the best ways to invest in Bitcoin. At the time of writing, cost to mine 1 Bitcoin is around $5,700 while the exchange price is $10,644.80.
10. Buy Bitcoin with Payza.eu
Payza.eu (not Payza.com) is a payment method just like Paypal. But it offers some additional services like fiat-to-crypto and vice-versa.
Payza charges a hefty fee for both deposit and withdrawal of Bitcoin. Before you start to use Payza read term & conditions and also contact Payza support.
There is a certain way of acquiring Bitcoin and invest in Bitcoin. Bitcoin is now in trend and accepted as a method of payment across the world. So, investing in Bitcoin sounds quite promising.
Further, after Bitcoin touched its all-time high of around $20k it attracted people around the world. It made them started to look at it as an investment vehicle. Even now, when global uncertainties such as Brexit and US-China trade war, Bitcoin has become an ideal investment instrument to park investors’ money. At a time of writing this, Bitcoin is trading at $10,644.80.
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