Money and Responsibility

How To Make Buying Bitcoin Easier

If you would like to buy Bitcoin fast, the quickest way to do so is with a credit card. Doing so allows you to own Bitcoin in a few minutes. You're able to do so through several companies that allow for credit card transactions.

Use a Credit Card

The process begins by heading to one of several CEX websites. You will then need to verify your identity and you can then use your bank account or credit card to create an account. You will then be provided with different transactions you can make and how much BTC you will receive. For example, you could pay $200 and receive however much Bitcoin $200 is worth minus any fees for the transaction. 

Use Cash

If you don't have a credit card, you may also purchase Bitcoin with cash. This can be done by heading to a local Bitcoin ATM. While heading to a physical location can be inconvenient, you will not be sending personal information over the Internet. The verification process is also much quicker than through other methods which can take days.

Use an Exchange

You are also able to purchase Bitcoin through an exchange, but this process isn't as quick and easy as purchasing through a website that is designed specifically to sell Bitcoin. One advantage of exchanges though is that they are considered more liquid and this is helpful if you want to be able to buy and sell Bitcoin quickly. 

Bitcoin can serve as an investment and the value of Bitcoin has gone up quickly in the past. However, it can also simply be used as a convenient way of making payments. Therefore, if your goal is to use Bitcoin as a way to exchange goods and services, high liquidity can be very valuable.

Find a Wallet You Control

Before purchasing Bitcoin, it's important to consider where it will go before making your purchase. You will need to choose a wallet you control to determine where your Bitcoin will go. make sure to choose a self-custodial wallet because you will then have full control over your Bitcoin and how you use it.

With wallets that are not considered custodial, you may not be allowed to withdraw your cryptocurrency for any reason. In other cases, you must wait longer to make a transaction. A non-custodial wallet is the easiest way to use Bitcoin because everything can be done immediately. 

If you are looking to buy Bitcoin, follow the above tips.