How to Buy Bitcoin: The Basics Explained

Bitcoin’s had a rally recently, pushing the overall cryptocurrency market cap up to over two trillion US dollars. No wonder, then, that more people than ever are curious about this ever-changing twenty first-century market.

From Seoul to San Francisco, interest in bitcoin is skyrocketing as normal people try to get in on this weird, wild, and potentially lucrative industry. The only question they have is how to buy bitcoin!

Well, let’s answer that, shall we? Come with us as we take a quick look at the many ways of buying bitcoin.

Cryptocurrency Exchanges

Most people’s first stop when they’re getting into bitcoin is a crypto exchange where they purchase Bitcoin with a credit card. These huge businesses function as trading floors for cryptocurrency traders, providing a secure forum for the trade of cryptocurrencies.

You’ve probably heard of a few of these exchanges. Huge ones like Binance and Coinbase are in the news quite a lot. They’re a good venue for crypto newcomers because they can be relied on to be safe and secure. These exchanges have lots of security layers aimed at keeping users’ money safe, whether it’s crypto or fiat.

So what’s the downside? Surely, if these crypto titans are popular, reliable, and safe, why use anything else?

Well, the fees.

Of course, any business has to make money, and huge ones like Coinbase and Binance have to make lots of it. That means they levy a small fee on every transaction conducted through their site. That’s reasonable, but if you’re investing in cryptocurrency regularly, even 0.5 percent on every transaction can add up to a lot of lost money.As stated in this article, you can browse your selection of available deals on smartphones and top brands and explore the cell phone service plans that best suit your needs.

So what else is out there?

The Good Old ATM

Yep, you read that right. There are ATMs for bitcoin now. Just turn up with a credit or debit card and you can buy bitcoin and other cryptocurrencies right at the kiosk.

The great thing about bitcoin ATMs, besides novelty, is the convenience. You can just head to your nearest one and buy bitcoin. It’s as quick and easy as withdrawing cash.

If you’re curious about using a bitcoin ATM, there’s a good chance they’re closer to you than you think. There are over 7000 currently active bitcoin ATMs in the USA right now, and more spring up every day.

If you want to find the closest bitcoin ATM to you, check out this list of Byte Federal bitcoin ATMs. If you’re in the right area, you could have some bitcoin in your virtual pocket before you can say ‘Satoshi Nakamoto’!

How To Buy Bitcoin? It’s Easier Than You Think

So there you have it, two answers to the question of how to buy bitcoin. Plenty of people who aren’t familiar with the crypto world think of it as weird and impenetrable, but the truth is it’s almost as easy as withdrawing normal cash.

So either fire up your web browser, or take a walk down the high street, and you’ll be a crypto expert in no time.

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