How to Buy Bitcoins with USD - The Coinlist Guide

Buy Bitcoin With USD – The Coinlist Guide

Finding Bitcoins exchanges in the USA is relatively easier than in other jurisdictions of the world. Most companies dealing in Bitcoins have operational activities in most states of the US.

Broker Pros Min Deposit Coins Available Open Account
24 Option EU Regulated Multiple Coins Available CFD Trading $100 Local Currency Buy Bitcoin
AVA Trade $100 Min Deposit 30% Bonus CFD Trading £100 Ethereum, Bitcoin, Ripple, Litecoin Buy Bitcoin

As there are many companies that deal with bitcoin throughout the US, it is unsurprising that some of these may be false or scam companies. Before you buy bitcoin with USD, you should always do your due diligence about the company in question. This page will outline some reliable sources to buy bitcoin with USD.

You may wonder how easy it is to convert Bitcoin to USD. There are now many exchanges and banks throughout the world that allow you to make the conversion, bitcoin to US dollar.

Bitcoin Dollars

Buy Bitcoin CFDs with Dollars

There are essentially two methods of gaining exposure Bitcoin and other crypto currencies:

  • Buying the actual coin or
  • Buying a derivative of the coin

Buying a derivative of Bitcoin often means you are buying a contract that gives you exposure to the price fluctuation without actually owning the coin. Here at Coinlist we prefer this type of method because it is considerably more simple and there are a vast amount of advantages.

We have highlighted these advantages  in our ‘Buy Bitcoin’ page. I would recommend you do some serious research into buying bitcoin as a CFD.

There are various providers that can offer you great service when it comes to buying bitcoin with dollars.

Brokers like eToro and AVA Trade allow you to buy bitcoins with a variety of fiat currencies. This includes dollars (USD), Sterling pounds (GBP), Euros (EUR) plus more.

We would advise sticking with regulated brokers when starting out. The process is very easy and user friendly, as shown below:

  1. Once you have created an account, which takes no time at all, you need to click ‘Deposit Funds’.eToro - Paypal Step 1
  2. You will then find a drop down menu under ‘PAYMENT METHOD’, choose Paypal.eToro - Paypal Step 2
  3. You can then decide how much you want to deposit. Click ‘Submit’ and you are done.
  4. You should now find that you have funded your account.

The procedure to buying Bitcoin as CFD is considerably easier than some of the exchanges mentioned below. An example is Coinbase, arguably the biggest cryptocurrency exchange, only actually allows US citizens to use Paypal when buying Bitcoin.

Bitcoin USD Price

The most popular way of referring to the price of bitcoin is to compare bitcoin versus the dollar. When you hear people talking about the price, they will likely be talking about the against the dollar.

This is the same for most fiat currencies as well as cryptocurrencies. The Ethereum price and most other cryptocurrencies are all normally referred to against the US dollar.

Bitcoin versus dollar (BTC/USD)

As highlighted, many currencies are compared to the dollar but what does the format BTC/USD actually mean?

When presented like this, the first currency is known as the base currency, whilst the second currency is known as the term currency. In this format (BTC/USD) the base is always equal to 1 and the term is the price fluctuation.

As I am writing this, the bitcoin to USD price is around the 7000 mark. This means, for 1 bitcoin it will cost you $7,000. If you were to compare bitcoin to Ethereum, it actually is Ethereum that is the base currency and so looks like ETH/BTC. Currently for every 1 Ether it will cost you 0.041 bitcoin.

Exchanges that offer the best service when purchasing using dollars

Before we move ahead, you need to open an electronic wallet account to hold your bitcoins. Once you have a wallet you need to decide where to spend your precious dollar bills.

Below we highlight a few highly regarded exchanges.

1)   Buy bitcoin with USD at Coinbase

Pros Cons
Charges are relatively low, and company is well reputed in the USA Not available in all states of the USA

Coinbase Logo

Coinbase is one of the largest bitcoin exchanges of the world and offers a competitive pricing structure. The exchange is available in 33 countries across the globe. Customers are charged a fee of 3.99% for a transaction carried out using debit or credit card. As far as purchasing bitcoin with USD is concerned, there is no transactional fee.

All you need to do is select a seller offering lower rates to buy bitcoins. Customers buying bitcoins of $100 or more in a single go can receive a bonus of $10 worth bitcoins.

Coinbase allows you to buy two other cryptocurrencies; litecoin and Ethereum. Ethereum to USD and litecoin to USD are two of the most popular cryptocurrency pairings, although both sit behind bitcoin to USD.

Customers can purchase bitcoin by following the simple steps below:

  • Register your account at Coinbase.
  • Press “settings” tab to add your preferred payment method.
  • Enter the bitcoin amount you would like to purchase.
  • Enter your payment details, which ever you decide to use.
  • Press continue to authorize payments.
  • You’re almost done. Now you need to transfer your bitcoins to the e-wallet account that you created.

2)    Buy bitcoin with USD at CEX.IO

Pros Cons
The company allows customer buy high volumes of Bitcoins It has high pricing plan as compared to other exchanges

CEX.IO Logo

CEX.IO is a well-reputed exchange that deals in Bitcoin trading. Early in its life, CEX.IO was known for providing services for cloud mining. Over time, it has evolved as a multifunctional exchange. It now offers the sale and purchase of cryptocurrencies. The company has a large clientele base across the world.

It was founded in 2013, and since then it is operating in various jurisdictions of the world, including South America, Europe, and the US.

Buying Bitcoin with USD at CEX.IO requires you to undergo the following steps.

  • Register yourself at CEX.IO.
  • Log into your account to access members area.
  • Select the Bitcoin amount you want to buy.
  • Select the method you want to pay with.
  • Fill in your payment details and click “next.”
  • Check your payment details and the amount of bitcoin is correct.
  • Press “submit” to proceed with the payments.
  • Check your account to confirm the bitcoins have landed.
  • Transfer them to your e-wallet account as soon as possible.

3)     Buy bitcoin with USD at BitQuick

Pros Cons
The fasted platform to buy bitcoin using USD It charges high processing fee

Bitquick Logo

BitQuick is a well-known exchange that offers the sale and purchase of bitcoin using cash. The company has a wide range of options available with a competitive pricing structure. When you login, you just need to find a seller offering the best price for bitcoin.

Once you have found the seller that you want to purchase your bitcoins from, you can choose to make payments through credit cards, debit cards or as we highlighted, via cash.

To buy bitcoins using cash at BitQuick, you need to follow steps given below:

  • Open an account at BitQuick.
  • Log into your account using your credentials.
  • Click the payment method you want to proceed with.
  • In this case, cash, you need to visit the bank to make payments directly to the seller’s account.
  • Obtain a cash payment receipt from the bank and upload it on the BitQuick exchange.
  • It will take a maximum of one hour to show Bitcoins in your account after uploading the cash payment receipt in your account.
Buy Bitcoin With USD – The Coinlist Guide
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