Six Best Website To Buy Bitcoin Affordably
Ever since its launch over a decade ago, Bitcoin has gained popularity worldwide for its several applications. Bitcoin is a digital currency that can be used to make payments for online purchases and be traded as a commodity. Investors buy bitcoin and HODL them to sell them in the future when the price rises to makes profits. Most importantly, this revolutionary digital currency has disrupted how cross-border transactions are conducted. One third-party intermediary doesn't need a bank to complete a transaction with sending money, taking only up to an hour.
However, to acquire BTC and enjoy the cryptocurrency opportunities, you need to find the best website to buy bitcoin. There are several places for bitcoin buy, which can be confusing for novices to the crypt0osector. Therefore one needs to thoroughly research bitcoin's best place to buy to avoid scam sites and exchanges. But always remember the best way to store your bitcoins is through a bitcoin wallet such as the one PrivateX.io offers. The bitcoin wallet is an online wallet linked with your account on the exchange, or it can be a physical device or program connected to the computer.
Factors to consider when picking the best website to buy bitcoin
Bitcoin is a digital currency and should be treated just like normal currency, and each transaction has to be taken cautiously like you were getting a loan or signing for a credit card. So there are things to look at like security and transaction fees, among other things.
1. Transaction fees
As stated, there are several bitcoin exchanges out there, and each charges its percentage fee on transactions. Therefore it is essential to ensure you know the transaction fees on an exchange before you commit to buying BTC from the platform. Besides the transaction fee, there is also the conversion fee for converting fiat currency to cryptocurrency. To avoid the conversion fee, it is recommended that you choose a bitcoin buying site that accepts your local currency.
2. Processing speed
You want to have your bitcoins as quickly as possible in your wallet, and the rate of processing varies from exchange to exchange. Different exchanges take different times when making transactions, with some taking up to 5 days to receive the funds in your wallet, but others are quicker to process your transaction.
3. Liquidity of the exchange
When picking the site for bitcoin buy, liquidity is one thing to consider because it varies from exchange to the other. Liquidity is determined by the amount of the bitcoins that the exchange can comfortably sell before its price gets affected. You can see the exchange's liquidity by looking at the trading volume, and if the trading volume is high, it means the exchange has more liquidity.
4. Exchange accessibility and supported coins
Different exchanges vary in terms of how you can access their platform, with some being compatible with mobile devices while others are solely accessible from PCs. Always pick an exchange that gives you the option to access it from your most preferred platform, such as a mobile phone.
Besides Bitcoin, you may be interested in trading in other digital coins. Always consider an exchange that offers a variety of cryptocurrencies that you can transact and trade.
Bitcoin best place to buy
There are several exchanges currently serving crypto enthusiasts worldwide, but each has its cons and pros. Each platform has its specific conditions and business models, with some sites charging users with spreads while in other, you pay for custody. Therefore always consider your needs when choosing an exchange. Here are some of the best places to buy bitcoin:
It is a popular bitcoin exchange that has been around since 2011 that is licensed in Luxembourg. Most exchanges might be ideal for small purchases, but if you are looking to transact in large amounts, Bitstamp should be your exchange. The platform is intuitive to uses with enough analysis resources, and users can buy BTC through SEPA or credit/debit cards.
Binance is currently the most popular bitcoin exchange, which charges low transaction fees with various cryptocurrencies. It is the most trustworthy exchange where you can buy BTC cheaply through bank transfers, debit cards, and credit cards. The website is compatible with mobile devices
It is a multi-asset trading website that offers brokerage resources and digital currency trading services. With the site, you have complete KYC verification for you to purchase bitcoin. Payment methods supported include debit/credit cards and bank transfer where USD, EUR, and GBP transactions are free. The platform is available in most countries globally, but it is better suited for experienced bitcoin traders.
Besides getting a free bitcoin wallet from PrivateX.io, you can also get a free wallet from Coinbase to store your coins after purchasing them on the exchange. Coinbase stores its digital currencies in offline vaults and deposit boxes, and there is a 48-hour withdrawal cancellation alternative for protecting users from fraud.
5. Local bitcoins
It a peer-to-peer platform where you can buy bitcoin anonymously, and it also offers a range of payment options such as credit/debit card and Paypal depending on your location. You buy BTC through cash deposit, and within minutes your funds will be in your PrivateX.io wallet. There are no limits with this platform when buying BTC, and in-person transactions are fast. You, however, need to complete KYC verification before purchase.
6. Bitcoin ATMs
If you want an anonymous way to buy BTC, you can use Bitcoin ATMs, which operate like the normal fiat money ATMs. You insert a cash or debit/credit card into the ATM to purchase bitcoin anonymously as there is no KYC requirement. However, transaction and conversion fees are high when using this channel to buy your BTC, and finding a bitcoin ATM can be challenging.