For those who don’t prefer to wait, the cheapest and easiest way to access and buy some Bitcoins is by signing up with Coinbase and link it to your bank account. The charges are friendly as Coinbase charges one percent of the fee. As soon as the transfer from the bank account to Coinbase clears, you are given your Bitcoins. Coinbase becomes an efficient web wallet when you use it as an Android mobile app. The Coinbase app makes it easier for you to purchase and sell Bitcoins at your own convenience; be it from your office, home, on the go, or from the comfort of your couch.
This is another great platform to buy Bitcoins. LocalBitcoins.com acts as a craigslist for the Bitcoins connecting buyers and sellers of Bitcoins to find one another and trade Bitcoins for cash. However, this happens for buyers and sellers in the same geographical area. This is a very efficient way of buying Bitcoins, but you have to take precautions as both of you (buyer and seller) are strangers to each other. Therefore, we recommend that you be careful when meeting a stranger from the internet. Although LocalBitcoins.com has a rating system that helps one identify a trustworthy seller or buyer, don’t be overconfident. Meet your seller or buyer in a public area; not under a bridge or in a dark alley.
Online Bitcoin Exchanges
Online Bitcoin Exchanges gives one an opportunity to store your Bitcoins and dollars in your online account. You can choose to buy or sell your Bitcoins at any time at the prevailing market rate. The selling and buying of Bitcoins take place instantly. This enables one to trade the Bitcoins the same way you can trade a stock.
The only challenging thing about Bitcoin Exchanges is that it can be difficult to transfer dollars from your bank account to your online Bitcoin exchange account in the first place, and also it takes long to transfer your dollars from your Bitcoin exchange account to your bank account after selling Bitcoins. You need to be patient when using this platform to buy and sell Bitcoins.
Bitcoin is a currency that is accepted in many regions around the world. Therefore, there are many other exchanges that you can use to buy Bitcoins. Some of the most respected and most used platforms include European Union-based Bitstamp and Russian-based BTC-e. However, the latter has a bulky interface. You can use other platforms as long as they have a good reputation and real positive reviews.