How To Buy Bitcoins | The Safe and Easy Way

 

If you are looking to buy Bitcoin at the beginning, it’s quite complicated for the most part. There are some common stories like someone got robbed for Bitcoin so where should I buy it. You have this hesitation. So, today, I’ll be giving you information on what I believe is the safest and easiest way to buy Bitcoins.

Before you jump into buying Bitcoins, the most important thing you need to have is a wallet.

In the world of cryptocurrencies, it is called a ‘cryptowallet.’ A cryptowallet is a secure digital wallet that you use to store, send, and receive digital currency like Bitcoin. Majority of the coins have a few officially recommended wallet. I have to say though that my favorite wallet is Ledger Nano S. It’s a type of hardware wallet wherein you can store multiple types of currencies. Plus it is super secure and it’s Malware proof, so I’m at ease that nobody will be able to hack into my coins.

So, let’s get into some of the ways that you can buy bitcoins the safe and easy way.

  1. LocalBitcoins

Localbitcoins has been in the cryptocurrency space for a long time. Its service facilitates the buying and trading of Bitcoin all over the world. It’s sort of like the Craigslist for buying and selling Bitcoins. Now, if you’re only looking to purchase Bitcoins, there’s no fee to use the site, and the site takes about 1% from the sellers. The LocalBitcoins platform is secure there’s no doubt about that, It’s the people who are transacting there you have to be very careful of, so you need to make sure that you do the following before you get into business with the people who trade in LocalBitcoins:

  • Look at the ratings, buyer’s feedback, and reviews of the sellers that you plan to trade with so that you know somehow that the person you’re transacting with is legit and trusted.
  • Look for the people who have been in there for a while. So, of course, this one is straightforward to understand. You want to do business with someone who’s been in the game for a while and is known by many others to do great business with people. You want to trade with someone who has feedback of at least 98%, a verified seller meaning he has his phone number or email on the account, and at least trusted by ten people.
  1. QUICKBT

QuickBT offers instant Bitcoin purchases through the interac network. How cool is that? No sign ups, no waiting, no hassle. You simply enter the Bitcoin wallet address you want to use, enter the amount, get a quote and you will be redirected to the Interac website to complete your purchase. The Bitcoins are then instantly transferred to the address you selected.

Bitcoin is very interesting to many people; however, many people get scared off when they start investigating how to purchase Bitcoin. Many people are uncomfortable with verifying their identities or linking their bank accounts with the various Bitcoin purchasing services. People don’t like waiting 4-5 business days for their transactions to be processed. Then, a wonderful service like QuickBT comes around and changes everything.

  1. Bitcoin ATM

Bitcoin ATM is not an ATM in a traditional sense. It is an internet machine that allows a person to exchange Bitcoins and cash. Some Bitcoin ATMs offer a bi-directional functionality meaning users can both purchase Bitcoins as well as redeem Bitcoins for cash. Now, these “ATMs” do not connect to a bank because as we all now Bitcoin is decentralized instead, it connects the users directly to a Bitcoin blockchain. This is actually the most affordable way for a user to buy a small amount of Bitcoins, and it’s relatively easy to use.

Now if you feel like doing business or getting a hold of your Bitcoins in a way that’s a little more familiar to you, you can actually use websites like coinatmradar.com to source out your locations Bitcoin ATMs. You also need to check to contact the Bitcoin ATMs operator to check their transaction fees.

  1. Exchange Platforms

Exchange platforms allow customers to trade cryptocurrencies or digital currencies, such as Bitcoins for other assets, such as conventional fiat money, or different digital currencies. There a lot of different exchange platforms out there and it might get confusing. So here are some of the things that you need to consider before picking the best cryptocurrency exchange suited for your trading needs.

  • Fees – Of course if you’re signing up for something you want to make sure what are the fees associated with that membership.
  • Exchange Rates – This is very important as you don’t want to be a part of an exchange with draconian fees or harsh fees. That’s just not fair to you.
  • Reputation – Choose a platform that has a solid reputation and is well trusted by traders. So ask around do you research about the exchange platform that you would like to business on.
  • Location – It is also imperative to find an exchange platform that supports your region as not all platform support a specific location. So make sure that you do your research if the platform that you would like to be a part of supports your area.
  • And the most important thing to consider or understand is the platform’s identity verification process. Most platforms require some sort of verification, some in the form of a passport or proof of residence or driver’s license. For me, when I first started out searching for the best platform, I got tired of all the verification process because it took time and effort. I have to scan all the documents and upload it make sure that it’s a certain file size it was just too much work. But you need to understand that that is important for your own security. So, the more complex the verification process is, the safer the exchange platforms and that’s probably where you want a business on.

So, these are just some of the most common and easiest way for you to be able to start buying your Bitcoins. The most important thing to do when you want to start getting into the business of purchasing Bitcoins is do your research. You have to know the product, the place where you want to get the product that you wish to, as well as how you are going to acquire a product. My advice is to not just dive into it right away just because your friends tell you to do so. You need to sit down and look around the market to see where you will be most comfortable with or which one would work for you. Just because one method works for your friends doesn’t mean it will work for you just the same. If you are looking to buy Bitcoin at the beginning, it’s quite complicated for the most part. There are some common stories like someone got robbed for Bitcoin so where should I buy it. You have this hesitation. So, today, I’ll be giving you information on what I believe is the safest and easiest way to buy Bitcoins.

Before you jump into buying Bitcoins, the most important thing you need to have is a wallet.

In the world of cryptocurrencies, it is called a ‘cryptowallet.’ A cryptowallet is a secure digital wallet that you use to store, send, and receive digital currency like Bitcoin. Majority of the coins have a few officially recommended wallet. I have to say though that my favorite wallet is Ledger Nano S. It’s a type of hardware wallet wherein you can store multiple types of currencies. Plus it is super secure and it’s Malware proof, so I’m at ease that nobody will be able to hack into my coins.

So, let’s get into some of the ways that you can buy bitcoins the safe and easy way.

  1. LocalBitcoins

Localbitcoins has been in the cryptocurrency space for a long time. Its service facilitates the buying and trading of Bitcoin all over the world. It’s sort of like the Craigslist for buying and selling Bitcoins. Now, if you’re only looking to purchase Bitcoins, there’s no fee to use the site, and the site takes about 1% from the sellers. The LocalBitcoins platform is secure there’s no doubt about that, It’s the people who are transacting there you have to be very careful of, so you need to make sure that you do the following before you get into business with the people who trade in LocalBitcoins:

  • Look at the ratings, buyer’s feedback, and reviews of the sellers that you plan to trade with so that you know somehow that the person you’re transacting with is legit and trusted.
  • Look for the people who have been in there for a while. So, of course, this one is straightforward to understand. You want to do business with someone who’s been in the game for a while and is known by many others to do great business with people. You want to trade with someone who has feedback of at least 98%, a verified seller meaning he has his phone number or email on the account, and at least trusted by ten people.
  1. QUICKBT

QuickBT offers instant Bitcoin purchases through the interac network. How cool is that? No sign ups, no waiting, no hassle. You simply enter the Bitcoin wallet address you want to use, enter the amount, get a quote and you will be redirected to the Interac website to complete your purchase. The Bitcoins are then instantly transferred to the address you selected.

Bitcoin is very interesting to many people; however, many people get scared off when they start investigating how to purchase Bitcoin. Many people are uncomfortable with verifying their identities or linking their bank accounts with the various Bitcoin purchasing services. People don’t like waiting 4-5 business days for their transactions to be processed. Then, a wonderful service like QuickBT comes around and changes everything.

  1. Bitcoin ATM

Bitcoin ATM is not an ATM in a traditional sense. It is an internet machine that allows a person to exchange Bitcoins and cash. Some Bitcoin ATMs offer a bi-directional functionality meaning users can both purchase Bitcoins as well as redeem Bitcoins for cash. Now, these “ATMs” do not connect to a bank because as we all now Bitcoin is decentralized instead, it connects the users directly to a Bitcoin blockchain. This is actually the most affordable way for a user to buy a small amount of Bitcoins, and it’s relatively easy to use.

Now if you feel like doing business or getting a hold of your Bitcoins in a way that’s a little more familiar to you, you can actually use websites like coinatmradar.com to source out your locations Bitcoin ATMs. You also need to check to contact the Bitcoin ATMs operator to check their transaction fees.

  1. Exchange Platforms

Exchange platforms allow customers to trade cryptocurrencies or digital currencies, such as Bitcoins for other assets, such as conventional fiat money, or different digital currencies. There a lot of different exchange platforms out there and it might get confusing. So here are some of the things that you need to consider before picking the best cryptocurrency exchange suited for your trading needs.

  • Fees – Of course if you’re signing up for something you want to make sure what are the fees associated with that membership.
  • Exchange Rates – This is very important as you don’t want to be a part of an exchange with draconian fees or harsh fees. That’s just not fair to you.
  • Reputation – Choose a platform that has a solid reputation and is well trusted by traders. So ask around do you research about the exchange platform that you would like to business on.
  • Location – It is also imperative to find an exchange platform that supports your region as not all platform support a specific location. So make sure that you do your research if the platform that you would like to be a part of supports your area.
  • And the most important thing to consider or understand is the platform’s identity verification process. Most platforms require some sort of verification, some in the form of a passport or proof of residence or driver’s license. For me, when I first started out searching for the best platform, I got tired of all the verification process because it took time and effort. I have to scan all the documents and upload it make sure that it’s a certain file size it was just too much work. But you need to understand that that is important for your own security. So, the more complex the verification process is, the safer the exchange platforms and that’s probably where you want a business on.

So, these are just some of the most common and easiest way for you to be able to start buying your Bitcoins. The most important thing to do when you want to start getting into the business of purchasing Bitcoins is do your research. You have to know the product, the place where you want to get the product that you wish to, as well as how you are going to acquire a product. My advice is to not just dive into it right away just because your friends tell you to do so. You need to sit down and look around the market to see where you will be most comfortable with or which one would work for you. Just because one method works for your friends doesn’t mean it will work for you just the same.

Tiz Gambacorta
 

Tiz managed a $750m derivatives portfolio by age 22 as an FCA-regulated trader. After being promoted the youngest Vice President in the trading division of Barclays Bank headquarters in London UK, he realized there was more to life than working for "the man". He went on to build, scale and sell five separate, six-figure a year digital publishing and education businesses. He then merged his passion for finance and for the internet by co-founding 8020Research.com - the No 1 education organization dedicated to helping people live the life they dream, desire and deserve by leveraging the Internet. After investing $150,000 into his own trading education, he became financially free by the age of 36 and is now on a mission to help 100,000 average people take back control of growing and protecting their wealth by December 31st, 2020. Having traded and served clients at the highest level on Wall Street and in the City of London during some of the worst terrorist attacks that shook the markets gives him a first-hand understanding on how to profit from rising and falling markets. His high net worth private clients regularly pay him in excess of $50,000/year for his insights.

>