Different Ways to Purchase Bitcoin
Bitcoin is the most famous and the first cryptocurrency in the world. The recent sudden increase in the price of this cryptocurrency has attracted more people to it. Today, almost everybody wants to own this virtual currency. And there are several ways people acquire Bitcoin.
Sites like Immediate Edge explain how shareholders can use Amazon gift cards to purchase Bitcoin. Perhaps, you can visit this site to learn how this method works and why an investor may opt to use it. That means acquiring Bitcoin is now easier than ever. Initially, people acquired this cryptocurrency through mining only. Bitcoin mining is a costly process that entails investing in powerful computers or paying for a mining contract.
However, the easiest and more straightforward way to own Bitcoin today is by purchasing it via a crypto exchange. Bitcoin isn’t a physical currency. For this reason, you need a digital wallet to hold your Bitcoin units. Some crypto exchanges provide digital wallets. However, these may not be safe because safety is not the priority of crypto exchanges. That’s why crypto exchanges keep reporting cases of cyber-attacks that lead to losses of millions of users.
If you plan to purchase Bitcoin, start by getting a secure digital wallet. Ideally, learn about different Bitcoin wallets and then pick one that suits your needs. Once you’ve done that, consider the following ways to buy Bitcoin.
To purchase Bitcoin, identify a crypto exchange that features this cryptocurrency. Most crypto exchanges allow users to buy Bitcoin using fiat cash. That means you can use the national currency to purchase Bitcoin. Nevertheless, research the crypto exchange you want to use to purchase Bitcoin extensively. Find out whether it has complaints from users for hacks or cyber- attacks. Also, find out how long the crypto exchange takes to process and complete a Bitcoin order. That way, you will know the duration you will wait to receive your Bitcoin units after placing an order.
Crypto exchanges provide the most common way to buy Bitcoin. However, they are not the only option to consider. Some companies offer ATMs that you can use to purchase Bitcoin. And this option provides greater convenience because you only need to identify a Bitcoin ATM near you. What’s more, the process of buying Bitcoin is more straightforward, like depositing cash into a machine and owning Bitcoin after the confirmation of the purchase.
However, find out about the transaction costs before using an ATM to buy Bitcoin. What’s more, find out whether the service provider offers customer support. The exchange rate for fiat money against Bitcoin is also another factor to consider. Unfortunately, most Bitcoin ATM providers do not disclose this rate upfront.
Nevertheless, Bitcoin ATMs are a growing trend as more people prefer them due to their convenience. Thus, you’re likely to have an easy time finding a Bitcoin ATM near you.
Investment Funds and Liberty X
If looking for something personal other than an ATM or don’t want to complete your crypto transaction online, you can use Liberty X. This option enables you to buy Bitcoin at a retail store. This service is like MoneyGram or Western Union. However, only people in the United States can use this option. And you have to complete a verification process that includes providing your phone number before exchanging your fiat money with Bitcoin.
You can also invest with the oversight of an expert. And this entails putting money into an investment fund or trust that pools resources from several investors while owning several assets to reduce risk. If you go for this option, look for an investment fund that has been around for some time.
You can acquire Bitcoin in different ways. In most cases, all you need is fiat money to purchase this cryptocurrency. Nevertheless, find out how the method that you want to use works to avoid losing your hard-earned money trying to buy Bitcoin.