Thanks to roller-coaster dips and rising prices, many people are now interested in investing in Bitcoin. However, most people looking to enter the crypto market believe it’s difficult to buy and sell Bitcoin. While there is a learning curve when it comes to investing, the purchase, storing, and use of Bitcoin should not be complicated. This article outlines four easy ways to buy Bitcoin.
The most direct way of buying Bitcoin is through a face to face transaction with a seller. It could be a friend, a workmate, or a seller at a Bitcoin meetup. People around the world are organizing meetups for like-minded people looking to share knowledge on Bitcoin investment. Here you can’t miss someone looking to sell their Bitcoin for cash. Look through the internet for Bitcoin meetups in Arizona. Be sure to transact in an open public space, and don’t be afraid to back out if something feels off.
Bitcoins ATMs are sprouting all over the world, and they offer a great way to buy and sell Bitcoin. They are Bitcoin kiosks that provide and accept cash for selling and buying Bitcoin, respectively.
ATMs are normally associated with banks, and Bitcoin ATMs can be confusing. Please note that these are not stand-alone teller machines and are not linked to banks. Think of them as computers with input devices that allow the transfer of Bitcoin from one account to another.
A lot of trading platforms provide Bitcoin ATMs, and it is not unusual to find a Phoenix Bitcoin ATM in a gas store or convenience store. Since they are operated by different platforms, there is no standard way of using a Bitcoin ATM. The good thing is that every version provides step-by-step instructions on the touchscreen.
P2P trading platforms offer excellent anonymous ways to buy and sell Bitcoin. Unlike regular Bitcoin exchanges that match buy and seller orders between people, P2P trading platforms offer some level of privacy protection and anonymity. Neither the seller nor the buyer will know who the other party is. Normally, P2P trading platforms do not require you to provide any documentation. They also provide a reputation system that is used to track a traders’ trading history. A good history increases your chances of completing a trade.
With regular Bitcoin exchanges, you buy or sell Bitcoin off an order book. An established and reputable Bitcoin exchange is an easy and convenient way to buy or sell Bitcoin. Exchanges are different, and each of them has their own requirements, capabilities, fees, and special offers. It is upon you to evaluate a Bitcoin exchange before making your decision. Some of the factors you should consider when choosing a Bitcoin exchange include:
- Know Your Customer (KYC) and Anti-Money Laundering (AML) practices
- Reputation
- Insurance funds
- Fees
- Leverage trading
- Prices
- Volume
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