Bitcoin, as you might agree, is solidifying itself as a real currency. If you’re anything like me you’ll understand that means big things for the future, right?
It’s an attractive investment product due to it’s volatility, price, and security (Khan Academy have done an amazing video-lecture on the security of blockchain). And I like making money from money. We all should. It’s easier than working your ass off!
For these reasons, people want to buy bitcoin. So, in this article I’m going to show you three of the best, most secure, and easiest places to buy bitcoin online. So you can invest, not to buy illicit drugs and guns (my informal disclaimer).
There are tonnes of sites that make it easy to buy bitcoin. Some make it really f***ing difficult though so I’m going to miss those ones out. Waste of time. Before you read everything, if you just want to get this over and done with quickly then goto LocalBitcoins. Can’t go wrong.
Otherwise, enjoy this tutorial.
When I first set out to buy bitcoin I was clueless. I wish that I’d known more because I saw it when it was still pricing in at £20-30 per coin. Now it’s more than 10 times that. So lets not miss any more opportunities and go through the things that YOU NEED to buy bitcoin.
- Payment processor (depends on the site you’re using)
- Debit Card
- Bank Account
- An Account with any of the given sites below
- An ability to read the news. You don’t want to buy bitcoin if the price is falling out of the sky.
LocalBitcoins is a person-to-person Bitcoin trading site. They offer a trade mechanism that makes it safe to trade, and allows you to take advantage of the lower premiums offered by people instead of larger companies.
One of the largest reasons why I love LocalBitcoins is because they offer a cloud wallet. All of the Bitcoins that you buy are stored on-site and you have complete control over the movement of the coins.
If you’re looking to buy bitcoins using your credit-card, debit-card or bank account, then CoinBase is the bitcoin exchange for you.
CoinBase is very user-friendly, great for first-time Bitcoin buyers. Additionally, they offer a cloud wallet and also the option to exchange (buy and sell) your bitcoins. However, I wouldn’t advise trading here if you’re looking to profit from price movements.
If anything, coinbase simply offers you a fast, fairly low-cost, and safe way to buy bitcoin.
Here’s a tutorial on how to get started buying bitcoin from CoinBase. Created by CoinLime.
Kraken Bitcoin Exchange
This is the complex way.
However, you can load your account with most currencies (including Ethereum and LiteCoin), trade it into a different currency, and withdraw in whatever currency you please.
If you’re clever about it, you can buy BTC at rock-bottom prices in bulk and get the best deals here.
Here’s a quick tutorial to get started using Krakens trading services.
I don’t suggest Kraken if you’re just a beginner. Firstly, the verification process is quite long. And secondly, the terminology used isn’t as easy as if you were to go with CoinBase or LocalBitcoins!
Now you should be perfectly kitted out with the means required to buy bitcoin online!
What’s your favorite place to buy (or even sell) bitcoin? Where do you get the best prices?
Leave your comments below!
Until next time, Josh