5 Best Ways to Buy Bitcoin in 2020
Do you wish to buy Bitcoins? Then you should consider some easy but secure ways of doing so. It is not only important to find a way that is hassle-free but also quick so that you do not have to go through a long waiting period. Here are some of the best ways to buy the Bitcoin in 2020:
- Mobile wallets: This is a fast way of buying Bitcoins when you do not wish to go for a bank transfer that is likely to take a while. You have to, however, rely on a trustworthy mobile wallet which allows you to buy the crypto coins with your debit or credit cards and will hand these over instantly. This is a good way to purchase Bitcoins because there are higher limits available since the wallet will ask for ID verification documents and you can avail of multiple cryptocurrencies when you use this wallet. Mobile wallet services will allow you to enjoy lower fees and more competitive rates; it is also super-convenient because you only need to use your smartphone to complete the purchase.
- Bitcoin ATMs: This is a less-popular way of buying Bitcoins but can be a suitable alternative to a mobile wallet when you are in a hurry to buy Bitcoins. Bitcoin ATMs work like regular ATMs and you have to provide a local currency and a wallet address in order for the Bitcoin ATM to process the funds. The downside to this method is that you need to find a Bitcoin ATM near where you reside and this can turn out to be a problem. You will have to provide a wallet address for the Bitcoin ATM to send the Bitcoins to you. There is no guarantee that you will get the best rates because you have no choice to compare the rates of different exchanges. Since the bitcoin trade is on the rise due to novel inventions like automated trading bots, more Bitcoin ATMs could come into use. Visit https://bitcoinup.io/ to find some good information about automated bitcoin trading bots.
- Buy in-person: When you wish to buy Bitcoins anonymously, you can consider buying it in-person. While buying Bitcoin privately in small amounts is allowed by some exchanges; to buy large amounts, you have to comply with AML/KYC rules. For those concerned about their privacy, P2P services like the LocalBitcoins may be an excellent platform. This platform will connect sellers and buyers so that you can get in touch with anyone keen to buy your Bitcoins when you wish to sell these.
- Exchanges: You can always get your Bitcoins from multiple Bitcoin exchanges that are spread all across the globe. Reputed ones like Coinbase and Kraken will ensure that you get good rates and offer high-end security measures. There are also peer-to-peer exchanges which will allow you to connect with people in your region who are keen to trade Bitcoins.
- Buy Bitcoins using cash: This method of buying Bitcoins is not much appreciated because it involves going to a bank and then paying into a person’ account who has agreed to buy the Bitcoin from you. This may not be a highly convenient method to purchase Bitcoins but it is secure as you can trade the payments. Fees are lower and buying limits are much higher when you use cash deposits. It only requires you to wait for a while to get your Bitcoins.
Relevant Sources : https://apnews.com/press-release/ts-newswire/technology-europe-western-europe-united-kingdom-567dfe40e317d1bdd9761b748a2d6455