Buying Bitcoins and making transactions with them, is already a necessity for many people who want to have a safe, fast and cheap method to pay or make transfers, regardless of the country they’re in. And why not say it, this digital currency is also a good way to keep your savings safe, invest money and speculate.
Bitcoins can be bought and sold on various trading platforms or markets, where other crypto-currencies are also traded. They all offer different payment methods, though the most commonly used ones are Paypal, credit or debit card, and bank account transfers.
How to buy Bitcoins
I will discuss various platforms and markets that act as intermediaries in the purchase and sale of Bitcoins, all being highly reliable. If you decide to buy Bitcoins directly from another person on an exchange platform, make sure to first check any website that shows the current exchange rate so you can see the current Bitcoin to USD exchange rate, and thus verify that you’re paying a fair price
- 2 places to buy Bitcoins:
- Exchange platforms: the perfect example is LocalBitcoins, which connects buyers and sellers. This is the easiest way to buy bitcoins, but you need to check the seller’s reputation and adapt to whichever payment method they asked for.
- Markets, Brokers or Exchange: Platforms like Coinbase facilitate the entire process. You’ll be able to buy Bitcoins online, with your credit card or by bank transfer, without having to worry about anything else.
You can also buy them directly from another person in cash, or make some kind of exchange. This currency is still readily available and has as many possibilities are those offered by cash.
Where to buy bitcoins
If you have read from the beginning, you’ll have seen that I’ve given a few exchange or market platforms where you can buy your first Bitcoin. Because the possibilities for buying Bitcoins are really very varied, but these are some of my favorite:
Commissions for purchase
Commissions charged for purchasing Bitcoins lie between 1 and 5% maximum, but everything will depend on the Exchange rate or platform you use, as well as the number of Bitcoins you buy, transaction type or payment method. As explained, it’s best to compare and then purchase.
For example, in Coinbase they charge you a commission of around 1.49% in both purchase and sale. At LocalBitcoins you can make transactions without having to pay a commission to the platform, but commissions are necessary to maintain the system, so it isn’t negative either, as miners need to receive some sort of compensation for their block work and you’ll get Bitcoins in your wallet much faster.
How to Buy Bitcoins anonymously
If you pay by credit card or bank transfer, this will be registered in your operation. So if for some reason you want to keep confidentiality and anonymity to the max, don’t use your home IP to log in and make your transactions in cash, with Paysafecard or from a Bitcoin ATM. LocalBitcoins is one of the best options for this.