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How to buy bitcoins?

How to buy bitcoins written by: Muchomba Holding your first bitcoin is not easy. Most people think that the process of buying bitcoins is as easier as buying digital currencies which involve entering the payment amount and your credit card number in a website form. But if you are one of the many beginners, possibly you have realized the disappointing truth – it won’t work that way. After all, the process of buying bitcoins involves shady cash deals with total strangers. But after you have learned all the basics related to bitcoins, your next step should be how to buy a bitcoin. The process is quite easier.

How do I buy bitcoin?

You can buy bitcoin from this exchange or directly from other people through the marketplaces. To pay for them, you can rely on various ways such as debit and credit cards and wire transfers. You can also rely on other crypto-currencies but this highly depends on the person selling it to you and your living place. And surprisingly, buying bitcoins with Paypal or credit card is not easy depending on jurisdiction. The main reason is that reversing such transactions with a phone call to the chargeback (card company) is very easy. Because proving that goods changed hands in bitcoins transfer is hard, most exchanges highly avoid this form of payment.

How to buy bitcoins with cash

You can quickly convert your cash into bitcoins. The process is usually fast and one of the easiest ways of buying bitcoins. Contrary to what you expect with the other processes (involved when buying bitcoins), this one do not require you to verify your personal identity or to provide any sensitive personal information. The process is also the best way for people under the age of 18 and for minors to get bitcoins. To buy them, you will only need to deposit cash.

Cash deposit offers a reliable and legal effective way of paying for your bitcoins without any in person meetings. You only need to fill a deposit slip and hand it to the bank teller at a local branch.

How a buy bitcoin with a debit and credit card

Buying bitcoins with debit or credit cards can be tricky due to chargeback issues. Debit cards provide you with a chance to make a chargeback on any transaction while Bitcoin doesn’t. Therefore, to buy bitcoins with your credit or debit card, you will need to involve a third party.

How buy a bitcoin anonymously

Bitcoin is a monetary system which is decentralized and therefore it has a particular appeal to the hardcore libertarian types that would like to keep their money where the government can’t see it or reach it. However, maintaining your financial anonymity during the purchase isn’t always straightforward. Each bitcoin exchange will be paired to your personal bank account to allow conversion of the money into bitcoins during the purchase. Your bank account is also tied to your personal identity.

To buy bitcoins anonymously, you will need to deposit money to the trusted vendors account so long as they can sell you the exact amount you need. After they have confirmed the deposit, you will receive the bitcoins within a few minutes or hours.

There was a time when people didn’t have any idea on how they can purchase a bitcoin. But however this has completely changed as a result of the ever growing bitcoins popularity. Today, you can buy bitcoins online with your credit/debit card or with cash. go to articles list