In this article, you will read how you can buy bitcoin through a bank account, credit/debit card, ATM, or PayPal.
Bitcoin has gained immense popularity in the latter half of the last decade. The price bubble in 2017 astonished many and since then the question of whether to buy bitcoin or not has been asked multiple times. Bitcoin has appeal for mass because of its instant price surge. In March 2020 one BTC was around $3,000 USD. And in November of the same year, BTC was sharing with a price of 19,000 USD. It seems that BTC is the promising investment of the century. Despite volatility, people are firmly buying bitcoin and the increasing value of a currency is a sign of investor’s increasing interest. So let’s dig deep and see why and how to buy bitcoin instantly.
The Motivation for Buying Bitcoin:
Bitcoin is a speculative investment. There is a risk factor attached to it. Bitcoin’s price goes up and down instantly without any prior warnings. Resultantly, many times investors end up with a low-value asset. For instance, BTC hit 20K in 2017 but it never reached that point ever again. We don’t know what the future holds, however, if someone invested in currency at that time then he/she might still be waiting for BTC’s breakthrough.
The initial thought behind the invention of bitcoin was to make it a replacement for fiat. BTC is not a currency for trading but actual money that we can use for buying coffee, paying bills, and paying employees. In financial conversations, money is explained as ‘Money is what money does, a tool for exchanging value’. Bitcoin does the same. The visionaries of cryptocurrencies see bitcoin taking place of cash in our lives. It might take us some time to get there but the potential of bitcoin suggests that it will solidify its place in the financial arena.
Bitcoin as an asset is a convenient and safe store of value. This position has long been held by gold. However, gold is a physical mass that needs to be kept safe somewhere. Moreover, moving gold from one place to the other involves logistic efforts. Border closures and physical restrictions hamper the transfer of gold. Bitcoin, on the other hand, is a virtual currency existing in the digital space. It can be easily bought, sold, and transferred. Thus, it is time for investors to buy bitcoin and take advantage of its usability.
How to Buy Bitcoin Instantly:
There are multiple ways using which you can buy bitcoin instantly. Here are a few means:
- Top Exchanges
- Peer-to-peer from Local Bitcoins
- Buy Bitcoin with ATM
- With PayPal
Let’s go through them one by one.
Buy Bitcoin from Top Exchanges:
Also Read: Top 10 Best Cryptocurrency Exchanges in 2020
You can buy bitcoin easily and in a cheap way from different exchanges on the internet. Cryptocurrency exchanges have made crypto buying and trading convenient for users. There are hundreds of crypto exchanges in the market. Here are our suggested ones for buying BTC instantly:
Coinbase is a famous crypto exchange. It supports bank transfers, credit cards, debit cards, and other means of fiat deposits. You can use your fiat currency to buy bitcoin on Coinbase exchange. The fee for purchasing bitcoin is 1.49% if you buy from deposited fiat. However, Coinbase doesn’t charge any money for bank transfers. Credit Card and debit card users have to pay 3.99% in purchase fee. For new investors, this platform is best for buying bitcoin. It is safe and easy to use.
Binance is a truly global cryptocurrency exchange. It is popular for its innovations and support for multiple currency pairs. You can buy Bitcoin on Binance with the lowest fee. It accepts payments through direct bank transfers, credit cards, or debit cards. You can also make purchases using altcoins. Binance has a mobile app as well. Thus, users can simply buy BTC through their mobile devices. It offers the cheapest way of buying and trading bitcoin.
Coinmama is an Israel based exchange. It offers the services of buying BTC. Coinmama’s services are spread over the world in 180 countries. It charges 5.9% fee on bitcoin purchase. Additionally, purchase through credit or debit card incurs a 5% more fee. Hence, Coinmama is an expensive place to Buy BTC. However, It is safe and doesn’t require a card registration process thus making purchases hassle-free.
Kraken is a crypto exchange based in America. It offers crypto services globally. You can leverage Kraken’s services for buying bitcoin through bank transfer and SEPA. Being in business since 2011, Kraken has gained the confidence of investors. So it is a safe place for making crypto purchases.
The cheapest way of buying bitcoin peer-to-peer is through LocalBitcoins. It charges no fee neither do you have to give personal information. LocalBitcoins acts as a liaison between buyers and sellers. You directly buy from other people on their platform. There is a downside to it. People might charge you higher than the market price of bitcoin. there are other peer-to-peer Bitcoin exchanges other than LocalBitcoins as well like Paxful and Wall of coins. However, those charge some sort of fee or have services in limited areas.
Buy Bitcoin through ATM:
If you want to buy bitcoin instantly then use the service of Bitcoin ATM. According to Coinatmradar, Bitcoin ATMs are located in 74 countries around the globe. You can anonymously buy BTC from these ATMs. Nonetheless, buying with ATMS can cost you more than any other way of acquiring bitcoin. You can use this method for quick service and ease.
Paypal launched its services in support of crypto in 2020. It is an effort to mainstream the use of coins. Paypal has now enabled its users to buy, hold, and sell cryptocurrency. So, now you can use your account on Paypal for buying bitcoin.
There are multiple resources through which you can buy bitcoin and start your crypto investments. In the above section, we have succinctly described a few of them. There are many fraudulent sites and scammer individuals who are ready to take advantage of your money by offering you the incentive of bitcoin. Hence, you need to stay vigilant. Go to a trustworthy broker. Do not trust random people with your money. The brokers we described have the trust of a community behind them. It is safe to say that your money will be in safe hands if you decide to buy bitcoin from them. So get your money out of the pocket and buy your first bitcoin instantly.