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How to buy bitcoin

How to buy BTC
In 2019 Bitcoin has great potential of growth. Some analytics predict bull run even bigger than in 2017. But there are people who don’t know about this assets. Before we explained how to create a bitcoin wallet and how to earn bitcoins.
Now we explain how to buy bitcoins for those who chose buy and hold mode or suppose to sell bitcoin for more USD in the future.
Process of buying BTC depends on your location , amount you want to buy, currency you pay, moment of time, and fee you agree to pay. Depending on these factors you can choose variants the most suitable for you.

Buying bitcoins with bank account

The easiest way for citizens of countries who have not allocated to international banking ban list can buy BTC on such exchanges as Coinbase, Binance or Bitfinex.
This variant is suitable only for verified users and not for a big amount of money. Some exchanges take too long to get verified. At the moment Bitfinex takes 4-6 weeks just to verify your documents and enable deposit option.
After finishing the verification usually it will be given SWIFT account credentials with which possible to deposit USD to account.
When you make the transfer it takes 2-5 days to arrive to beneficiary bank. Afterall all depends on admin who find your transfer in bank statement and add balance to your account.
If you are lucky with all mentioned above it is possible to take pair of USD/BTC and buy bitcoin.
Benefits of buy BTC through bank account:
  • Direct bank account transfer
  • No cash risks
  • Transfer without intermediaries
Disadvantages of buy bitcoin with bank account:
  • Payment takes too long
  • Need account verification
  • No exact terms of deposit. It can take 1 week or 1 month. Noone tells exact how many days it takes.
  • Many countries are banned on exchanges, as well as in bank sending
  • Limits for money sending with local bank, country.

Buy Bitcoin with Credit Card

The history of relationship between credit cards companies such as VISA and MasterCard changed very much for the last 3 years. At the moment MasterCard stopped issuing all the debit cards for BTC withdrawal and doesn’t permit accepting transfers for buying BTC.
It happened due to AML policy nonconformity that can not be performed with Bitcoin in principle as it listed by US regulators.
Other factor is that too many chargebacks in this sphere as it very popular for frauders.
There are some companies accepting buying bitcoin with debit card, but all of them are unstable and possibly can work today and can’t work tomorrow.

Advantages of buy bitcoins with credit or debit cards:
  • Fast or instant transfer of bitcoins
Disadvantages:
  • Transfer can be stopped by bank, or the company who sells bitcoin even without a reason. They may not like your IP address or behavior you’ve performed during making the order.
  • Big fees. Companies who accepts VISA to Bitcoin transfers take 15-20% fee for such exchange in overall due to high risks of chargeback or problems with payment card operators.
  • Small amount of BTC can be bought with this method. Usually up to 500$
  • Additional ID, utility bill, card picture verification possible

Buying Bitcoins with Non Banking Payment Systems

Such method is very popular worldwide as money can be transferred instantly to bitcoin seller.

Buy bitcoin with western union Takes leading position. You can get Bitcoins in exchange after 15-20 minutes without additional verifications and money holding by bank. All you need is to make a request for exchange, get name of receiver, make a western union transfer in any of wu offices or banks. Then fill in the MTCN number. Your transfer will be picked up and BTC transferred to your wallet.

Buy bitcoin with moneygram is the second way of buy BTC in non banking payment systems sector. All is similar to western union, time and limits almost the same. Moneygram has less fees but amounts of banks supporting it is not as big as Western Union has. But if you have the way of sending moneygram in your location buying bitcoins is quite easy.

Buy bitcoin with Ria Money transfers. Ria is a new payment system similar to Western Union and Moneygram approached good reputation for sending money worldwide and took a position in bitcoin exchange market. It has less offices than 2 leaders but has the least transfer fee. Check the map of Ria offices and maybe this way of buying BTC will be the best for you.

Excellence of buying BTC with WU, MG and other payment systems:
  • Fast BTC delivery
  • Easy transfers for up to 6000$
  • No additional verification required
Drawbacks of such method:
  • Sometimes western union can stop and return your transfer. It happens when you make transfers often and/or to different locations, as well as to transfers made by credit card.. Same thing happening to Moneygram. In any case you can take your money back instantly, not as with banks.
  • Need to exchange with trusted exchanger
  • Not suitable for transfers over 6k $

Buy Bitcoin for Cash

The most simple and most complicated method. If you have a verified exchanger in your city this is the best way. With us you can buy bitcoin in ukraine for cash. For others we prefer bank transfer, or western union.

You need to be sure in your safety while doing such exchanges and safety of your money. We recommend to exchange cash for bitcoin in safe crowded places or banks. If you have big stack of money better to take some additional security and don’t always think before you do. Always do with trusted exchange service.

Advantages:
  • Low fees
  • Big volumes
  • No tracking. Anonymous exchange possible.
  • Instant exchange

Disadavantages
  • Big risks of cash exchanges
  • Not everywhere available

How to Buy Bitcoin in USA and in the UK

1st place: For US and UK citizens the easiest way is to buy Bitcoin on Coinbase. It accepts us bank accounts and credit cards.

2nd place: For those who doesn’t have verified bank account we recommend to use Western Union or Moneygram. As it is the easiest and most reliable way of buying cryptocurrency worldwide. You are not dependable on when money arrive by bank and when appear on exchange account. With such a method your BTC will be in the wallet after 20-30 minutes.

3rd place taking cash to btc exchange. If you have a solution in your city for buying btc for cash try to use it first for small amount and then bigger and bigger.


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