If you are keen to invest in Bitcoins or trade Bitcoins, you have to buy the crypto asset first. It is possible to buy Bitcoins online through cryptocurrency exchanges, by using credit cards, or from Bitcoin ATMs worldwide. There are essentially two ways for buying the Bitcoin online; either by using credit cards which is a fast method, or buying from an exchange which is a less-expensive but slower method.
Step-by-step Guide to Buy Bitcoins Online:
- You have to type in the Bitcoin address and then choose an amount that you are keen to purchase. For this, you have to visit the page that lets you buy Bitcoins and then enter the BTC amount. You can then open the Bitcoin wallet and copy the wallet address. This address must be pasted onto the “Bitcoin Address” field. So, whatever you have bought will be sent to this specific wallet address. Therefore, you need to invest in a reliable wallet before you start buying Bitcoins online. Apart from bitcoin wallets, there are automated bitcoin trading apps like the news spy app which help young traders trade securely and autonomously.
- Once the wallet address has been typed in and the purchase amount selected, your Bitcoins will be transferred to the address specified. The entire process simply takes about 10 minutes to an hour, and this makes purchasing Bitcoins with credit cards relatively hassle-free and quick.
- You can also buy Bitcoins online via an exchange. Exchanges act as online marketplaces where traders can buy or sell Bitcoins once they have created an account there. It is important to select an exchange that runs in your country and which handles the purchase currency you want to trade in. You need to choose a Bitcoin exchange with caution. You will then have to create an account on that exchange. Depending on the cryptocurrency exchange you have selected, you may be asked to provide different identity documents. Then you have to connect one or multiple bank accounts to this exchange account. So, any purchase or sale that you conduct will be deducted or sent to this selected bank account. To buy Bitcoins you simply have to navigate to the cryptocurrency exchange website’s “Buy” page, choose the amount you wish to purchase, type in the Bitcoin address, and then confirm the buy, and finally wait for Bitcoins to get transferred to your wallet.
- Bank transfers are perhaps one of the safest means of Bitcoin purchase in most nations. You can buy large amounts when you use this method and the fees are the lowest; so, you get good prices on the buys.
- Cash deposits are undoubtedly the quickest and most private methods to buy Bitcoins. You can get your crypto coins within a few hours. The best part is that you do not have to hand over any personal ID details. Cash transactions are almost instant and you do not have to wait for a few days as in the case of bank transfers.
- Finally, Bitcoin ATMs are great for buying Bitcoins and, here also, you will not need to provide personal information. All you need is a Bitcoin ATM near where you stay, and you are good to go.