Bitcoin is a digital currency that was created somewhere in 2009 and has recently gained popularity. Latest encryption techniques are used to verify its transfer and regulate its unit’s production. The currency doesn’t need any middlemen to transact, doesn’t levy transaction fee and doesn’t require real name disclosure when transacting. In a nutshell, bitcoins operates independently of central bank regulations. But, how exactly do one buy bitcoin instantly?
Well, you can purchase them in a number of ways but this depends much on where you live and who you are buying them from. None the less, here is where and how to buy bitcoins.
How and Where to Buy Bitcoin Instantly
If you live in a relatively big city, don’t want bank hassles and prefer anonymity, the best and easiest option to buy bitcoin is by transacting face-to-face with a local bitcoin seller. There are several local Bitcoins sites where such transactions are pre-arranged and prices agreed upon. However, there are security concerns for both the buyers and the sellers, especially if the amount in question is a sizeable one. It’s advisable for one to be cautious when transacting such deals and preferably meet in a busy public place. Avoid any arrangement that lures you to meet and transact in a private home. Bottom-line, take all the precaution you usually take when handling or walking around with large amounts of money. Also, remember that you’ll need to have access to an internet connection to confirm the transaction as well as your bitcoin wallet.
Over The Counter Transactions to Buy Bitcoins
Almost all bitcoin traders have running bank accounts. The easiest and simplest way to buy a bitcoin instantly is to walk into a bank, deposit the cash into this account and upload the receipt and instantly get your bitcoins. No personal bank account or identification documents are needed.
Buy Bitcoins from Bitcoin ATM
Though bitcoin ATM is a completely new concept, they’re steadily growing in number as bitcoins are steadily gaining popularity. Countless vendors have also expressed their desire to install bitcoin ATM machines in the near future. However, the good thing is that the ATMS are already available in most mega cities as well as popular trading cities across the globe. When transacting through the ATM machine, the process is more or less similar to that of face-to-face only that this time you insert your cash and then you either receive a paper receipt with codes that you’ll use to load the bitcoins into your wallet or scan your mobile wallet QR code. It’s worth to note that exchange rates are levied and this can be anything between 3% and 8% in addition to the standard exchange rate.
Online Purchase of Bitcoins
More and more households, traders, governmental agencies, non-governmental agencies as well as international organizations are turning to the internet to buy or sell items. Trading in bitcoin also hasn’t been left behind and is done through online wallets and exchanges. Most wallets and exchanges will store amounts of fiat and/or digital currency for you, just the same way a regular bank account does. You can buy bitcoins online by simply following the following straightforward and simple steps.
The first step is to find a reputable and trustworthy online bitcoin seller who offers a favorable bitcoin exchange rate. Be cautious are there are countless online rogue bitcoin traders who lure their victims with unbelievable sweet exchange rates.
The next step is to buy bitcoins by simply exchanging your local currency, such as the euro, U.S. dollar, Canadian dollar or Japanese yen for bitcoin Transfer.
The transaction is finally sealed when bitcoins are transferred to your bitcoins wallet.
However, before purchasing bitcoins, you need to understand that there isn’t official Bitcoin exchange rate anywhere on earth. But there are Bitcoin price indexes that are computed by pulling data from the world’s largest Bitcoin exchange centers to create an average bitcoin exchange rate. This will, of course, help you to better understand the true rate of Bitcoin’s exchange rate. Always compare the Bitcoin price index to the exchange rate on your local bitcoin exchange.
Buy Bitcoin Instantly with a Debit or Credit Card
This is by far the easiest, swiftest, simplest and great way to buy small amounts of bitcoins instantly. Countless companies across Europe and the USA have made the entire transaction super easy. However, buying bitcoins with a debit or a credit card comes with a higher transaction and processing fees because of inherent high risk.