To the average person, buying bitcoins might seem to be a daunting task. However, buying them is fairly simple and easy. The complexity of transacting bitcoins has been blown out of proportion without any reason.
Buying bitcoins is synonymous to making a purchase on an eCommerce portal. If you’ve ever done that, you should be able to sail through the process smoothly and we’re assuming most of you have done that.
Now that we’ve addressed the overcome the fear of buying currency online, let’s us move ahead and see how to buy bitcoin. While some folks might believe that bitcoin is still in its nascent stages, it has been around since 2009 and there are a plethora of options available to buy bitcoin for the common man. Here are the different options available
Discover people trading bitcoin around you
Bitcoins buying exchanges are just like stock trading platforms which act as facilitatora for buying and selling of bitcoins. Depending on the country you live in, you might find different Bitcoin buying portals catering to your nation.
A quick google search will suffice in order to find the exchanges available in your country. Once you lock in the exchange, you will have to link your bank account in order to get rolling with bitcoins.
Pro tip: Look into the background of the bitcoin exchange’s founders and check out for how long the exchange has been around.
Discover people trading bitcoins around you
In case you don’t want to transact with exchanges, a website named localbitcoins.com can help you find people buying and selling bitcoins around you. Depending on your preference, you can either choose to wire the money to buy bitcoins or pay them in cash. Sellers and buyers both have reviews and feedback scores. Apart from that, they also have different rates which you can leverage to book some more profits.
We know most of you haven’t seen one yet. Bitcoins ATMs are rare, and at the moment of writing, there are only 1670 listed ATMs across the globe. These ATMs function just like the regular ones, except they allow you to deposit and withdraw money in order to buy and sell bitcoins.
Now, that you know all there is to know about buying and selling bitcoins, go make your first purchase and enter the exciting world of the first digital currency – Bitcoin.
If you’re an Indian and are interested in knowing more about bitcoin buying options available in India, check out our How to buy and sell bitcoins in India post.