How to buy Bitcoin anywhere in the world (Best Guide)
So you know the importance of bitcoin now, bitcoin is the first largest crypto currency in the world. If you are going to invest in bitcoin now this is the best time to do so.
There are a lot of options to buy Bitcoins, bitcoins are available in nearly every country of the world from ATMs and Local traders even now brokers and exchanges. I will explain how easily you can buy Bitcoin in the world wherever you are.
Many economic analyst says that this is the future of money and the revolution of payment once at all, some says this is digital gold, capitals will be controlled by this currency. You can easily pay with it, just store it in your digital wallet, watch the price rise or go down. Its seems interesting huh!
Now lets buy it with some of sources I know. You might think to get pen and pencil and note down it seems so complicated process but it is not. A lot of options are available for buying bitcoin easily, fast and comfortably. Lets find out some of the sources depends on your country and preferences.
To buy your first bitcoin you easily you should first take into account several factors.
- How much private information do you want to disclose?
- How do you want to pay?
- Where do you live?
These are the main points you should easily be able to decide which platform fits your needs.
If you are not satisfied on buying bitcoin on website you should check local trader or broker who is dealing in bitcoins and many other digital or crypto currencies. Meet him in his office or safe place and tell him you are interested in buying bitcoin he will ask you how much you want ask him what is the current price of each bitcoin. After he tell the you price do negotiate with him because he is asking a price in which his commission is included. Sounds good, reduce his commission to less and then tell him how much you actually want to buy. Bitcoin is money, but to buy Bitcoins, you need to send money to someone else. The more advanced the financial system of your country is, The better the financial system you live in, the easier it is to exchange your money in Bitcoins.
The movement of old fiat-money is the biggest obstacle in the flow of Bitcoin trading. If you use a slow and expensive payment channel, your acquisition of your Bitcoin is slow and expensive. If you use a fast channel, you can buy Bitcoins fluidly.
Here is an incomplete not-complete list of commons means of payment to buy Bitcoin:
- Bank transfer: Everybody might know the good old Bank transfer. Mostly with online banking you send money to a seller of Bitcoins and get the Bitcoins when the payments are done. In most countries, this needs 1-3 days. Direct debiting is usually not accepted common. Most exchange platforms only accept bank transfers.
- Credit Card: Credit cards are one of the most common means of payment. But only a few direct commercial vendors accept credit cards. The reason is that Bitcoin transactions cannot be undone, while credit card transactions can be reversed. This has resulted in losses for vendors which accepted credit cards. Also, vendors risk that people buy Bitcoin with stolen credit cards.Use Bitcoins to profit from stolen credit card numbers and apply algorithms to reduce the risk.
- PayPal: A few platforms accept PayPal, but most reject it for the same problems as credit cards: PayPal transactions can be easily undone, and when this is done after the buyer has transferred the acquired Bitcoin to another wallet, the vendor might lose. This is why eBay is a bad place to trade Bitcoins. But, like with credit cards, some platforms accept PayPal.
- Other Payment Channels (Sofort, iDeal, Skrill…): The world of payment is rich with payment providers. In the EU alone you have dozens of them. Many direct exchanges support a rich collection of them. If you use a common provider, in Germany Sofort, in the Netherlands iDeal and so on, you have a good chance that your domestic direct exchange accepts it.
- Private Payment Channels (Cash, Western Union, Paysafecard, etc.): Most commercial platforms don‘t accept these means of payment. You find very few exchange platform and most probably no direct exchange where these payments are accepted. But often you‘ll find a seller on p2p marketplaces you can pay with cash or other private means of payments. A good chance might also be an ATM where you can buy Bitcoins with cash.
Hope I have helped you finding you the right place and right person in buying your first bitcoin.